Blumont

Blumont - Latest news was yesterday where the group announced that it will invest between A$21-22m for new shares in ASX-listed Resource Generation (RG), priced at A$0.22 each. This will give Blumont a 15% stake in the coal miner. The proceeds will be used to develop RG’s Boikarabelo coal mine located in the Waterburg region of South Africa, which has probable reserves of 745m tones and existing gross resources of 6.4b tones. Incidentally, Noble is also a significant shareholder of RG, with a 12.9% stake.