Renergen Limited (“Renergen”), an integrated alternative and renewable energy business listed on the JSE’s Alt-X, today announced that its Prospectus for a secondary listing on the Australian Securities Exchange (“ASX”) is now available on its website (www.renergen.com.au/investor-relations). Renergen’s capital raise on the ASX, which has a market cap of $1,5 trillion and is the listing destination for leading resource companies, will enable the company to tap into a deeper pool of investors to fund
its expansion aspirations.
The company intends to raise AUD5 million to fund the second phase of an exploration project for subsidiary Tetra4 (Pty) Ltd in Virginia in the Free State province.
An independent reserve review recently compiled by MHA Petroleum Consultants LLC (“MHA”) from the United States of America in respect of the Virginia Project estimates a 12.2% increase in proven methane reserves and a 16.1% increase in proven helium reserves since March 2018, resulting in an economic valuation of R9,8 billion for proved and probable reserves.
“The continuous improvement in reserves as we further our geological understanding of the resource is highly encouraging. Favourable market conditions, particularly with the massive upward shift in helium prices, has made Tetra4’s prospects of becoming a global helium participant all the more tangible,” said Stefano Marani (CEO). Renergen’s listing on the ASX is anticipated in May 2019.
Enquiries:
Renergen Limited 010 045 6000
Stefano Marani, CEO
Website: Renergen www.renergen.co.za
Tetra4 www.tetra4.com
