Mining News

Renergen’s share price rises on CEF’s R1bn investment in the Virginia gas project

The JSE share price of emerging integrated energy producer Renergen rose by more than 10% on March 28 after the company announced that the State-owned Central Energy Fund (CEF) would acquire a 10% interest in its Tetra4 subsidiary for R1-billion. The transaction remains subject to various conditions precedent and, should a binding agreement not be entered into within 141 days, the purchase price will be renegotiated in good faith.

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