Edison Investment Research - Renergen Ltd (19EK) Renergen - ASX listing expected as funding is confirmed

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Edison Investment Research

Ian McLelland

Renergen - ASX listing expected as funding is confirmed

2018 activity was slower than planned for Renergen as its expected funding of the Virginia LNG/helium project in South Africa was delayed due to a long period of economic and political volatility. However, with a recently completed rights issue that unlocks a pre-agreed debt facility, Renergen can now start to order key equipment. The macro environment is more favourable, with helium prices potentially higher after the cessation of public auctions of the US strategic helium reserve. Longer term, Renergen is looking to the Australian markets for additional share liquidity, with an Australian Stock Exchange (ASX) dual listing planned for 2019.

04/01/2019 6 EN

Underlying

Renergen Ltd

Renergen Ltd. Renergen Limited is an integrated alternative energy company. The Company invests in early-stage alternative energy projects. The Company focuses on the alternative and renewable energy sectors in South Africa and sub-Saharan Africa. The Company holds interests in Tetra4 Proprietary Limited (Tetra4) and Windfall Resources Limited (Windfall). Tetra4 is a natural gas producer that provides sustainable, clean energy solutions to energy users in the Free State Goldfields region. Tetra4 has approximately 10 methane-rich natural gas and helium wells. Tetra4 owns the production right, which spans approximately 187,000 hectares in the Free State near Virginia, Theunissen and Welkom, and is surrounded by approximately 98,000 hectares of exploration rights. The Company owns an exploration right of an approximately 52,000 hectare field located in Evander, Mpumalanga, as well as farm-in rights to approximately two reserves near the towns of Kroonstad and Heilbron.

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ZAE000202610 Johannesburg Stock Exchange South Africa

Provider

Edison Investment Research

Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisors and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.

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Analysts

Ian McLelland

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Edison Investment Research Limited: Edison issues outlook on Renergen (RENJ)

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Renergen - ASX listing expected as funding is confirmed

Renergen - On track for liquid production by mid-2021

Edison Investment Research Limited: Edison issues outlook on Renergen (RENJ)

Renergen - Execution of Virginia stage one development

AGBA - A transformational deal

Biodexa Pharmaceuticals - In a period of transition

Norcros - Sale of Johnson Tiles UK agreed

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