Jameson Resources Limited (ASX: JAL) today announced the successful completion of the institutional component of its accelerated non-renounceable entitlement offer, which was initially announced on 2 September 2026. Jameson Resources Limited is an Australian company primarily focused on developing the Crown Mountain Steelmaking Coal Project, aiming to supply coking coal to global steelmakers. The institutional entitlement offer, combined with a placement, successfully raised A$5.3 million, demonstrating strong support from both existing shareholders and new institutional investors.
The A$5.3 million raised comprised A$1.17 million from eligible institutional shareholders taking up their entitlements, and a further A$2.53 million allocated to institutional, professional, and sophisticated investors through the Institutional Shortfall Bookbuild. Additionally, due to strong demand, an extra A$1.59 million was secured through a placement process, all at an offer price of A$0.035 per new share. Jameson Managing Director Michael Gray commented on the strong support, particularly welcoming backing from key existing shareholder King George Investments and new strategic investors M Resources and Tribeca Global Natural Resources fund, noting it “reflects the quality of the Crown Mountain Steelmaking Coal Project.”
Proceeds from the capital raise are earmarked primarily for advancing the Crown Mountain Steelmaking Coal Project. This includes funding the completion of the Final Environmental Assessment Application, ongoing engagement with Indigenous Nations to finalise partnership agreements, and further discussions with steelmakers regarding off-take and funding opportunities. Funds will also cover Crown Mountain Resources administration, project management, and general working capital. Jameson also confirmed that trading in JAL shares resumed on an ex-entitlement basis on 4 September 2026. The Retail Entitlement Offer is scheduled to open for eligible retail shareholders on 9 September 2026, offering new shares at the same A$0.035 price.
