Jameson Resources Limited (ASX: JAL), a junior resources company focused on the acquisition, exploration, and development of strategic coal projects in western Canada, has announced plans for an equity raising of up to A$5 million. The funds are earmarked to accelerate the company’s Crown Mountain Steelmaking Coal Project towards final environmental approvals and to secure long-term partnerships with Indigenous Nations. This capital raise will be conducted via a 1-for-5.5 non-underwritten accelerated non-renounceable entitlement offer of new shares.
The offer has garnered strong support from both key existing shareholders and new strategic investors. Commitments include significant participation from King George Investments, exceeding its entitlement, alongside new investors such as Matt Latimore-led M Resources and Tribeca Global Natural Resource fund. All of Jameson’s Directors have also confirmed their participation. Managing Director Michael Gray highlighted the Crown Mountain Project’s standing as one of the world’s most advanced greenfield premium steelmaking coal projects and noted the investments underscore its potential to supply high-quality coking coal to Asian steelmakers.
Up to 144,208,654 new shares will be issued at A$0.035 per share, representing a 22.2% discount to the last closing price. The raising is expected to secure approximately A$4 million from the institutional component and A$1 million from the retail offer. Proceeds will primarily fund the completion of the Final Environmental Assessment Application for the Crown Mountain Project, aiming for submission by late 2026. Funds will also support ongoing engagement with Indigenous Nations, including a proposed Shared Prosperity Agreement, and discussions with steelmakers regarding off-take and funding. The company further noted current steelmaking coal prices trading around 2026 highs, reinforcing project economics.
