The IDC will only fund a maximum of 1 Billion rands. which is just less than $100 Australian Dollars. How much do shareholders expect? With The South African energy giant expected to default on its $5 Billion US interest payments, there is big trouble ahead for the South African economy. Why would the IDC get involved in such a fiasco? Thats why RES has had a stall in its process. Eskom don’t have any money to pay RES for its coal...with $40 Billion Australian in debt.... and $8 Billion Australian due in interest payments. The South African economy is in a major pickle.... never mind the $80 million investment from RES.... that’s small fry.
RES Price at posting:
14.0¢ Sentiment: None Disclosure: Not Held