Renergen - ASX listing expected as funding is confirmed

Edison Investment Research - Oil & gas - Renergen: 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.

ISIN: ZAE000202610

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