Jameson Resources advances in steelmaking coal project with A$2m placement

Jameson Resources Limited, a notable player in the mining sector, has recently announced a successful capital raise of approximately A$2 million. This substantial financial boost was achieved through a share placement, specifically targeting sophisticated, professional, and institutional investors.

The placement involves the issuance of about 44.2 million new fully paid ordinary shares, each priced at 4.5 cents. This pricing is consistent with the current market price on the Australian Securities Exchange (ASX) and aligns with the 30-day volume-weighted average price (VWAP). This strategic move by Jameson Resources underscores the company’s commitment to growth and expansion in its field.

The newly acquired funds are earmarked for several key initiatives, including the progression of the Crown Mountain Environmental Assessment (EA) Application, ongoing engagement with Indigenous Nations, and exploration of potential mergers and acquisitions in the steelmaking coal sector. Additionally, the funds will support the administrative and project management costs of NWP Coal Canada Limited and cover corporate overheads for Jameson Resources.

Strategic Investment in Mining: Jameson Resources Raises A$2 Million

All shares issued in this placement will be on par with the existing fully paid ordinary shares of Jameson Resources, post-issuance. Michael Gray, the Managing Director of Jameson Resources Limited, expressed confidence in this development. He highlighted the placement’s significance in attracting institutional investors with a keen interest in steelmaking coal. Gray’s statement reinforces the belief in the company’s potential, particularly in the development of the Crown Mountain Hard Coking Coal Project, which presents a considerable market opportunity.

This development marks a significant milestone for Jameson Resources, reflecting investor confidence and paving the way for future growth. It showcases the company’s robust strategy in navigating the competitive mining sector, focusing on sustainable practices and community engagement.