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Jameson Resources Limited ( (AU:JAL) ) has issued an announcement.
Jameson Resources Limited has announced a capital raising of A$3.5 million through a two-tranche placement to existing shareholders and sophisticated investors. The funds will be used to advance environmental approvals and Indigenous engagement for the Crown Mountain Hard Coking Coal Project, alongside other corporate costs. The placement involves issuing approximately 100 million new shares at a price of A$0.035 per share, representing a 12.5% discount to the recent closing price. The capital raising reflects strong support from shareholders and confidence in the project’s development, bolstered by favorable government backing.
More about Jameson Resources Limited
Jameson Resources Limited (ASX: JAL) is a junior resources company focused on the acquisition, exploration, and development of strategic coal projects in western Canada. The company holds a 77.8% equity interest in NWP Coal Canada Limited, which has a 90% interest in the Crown Mountain Coal Project, and a 100% direct interest in the Dunlevy coal project in British Columbia. Its tenement portfolio is strategically located near existing mines and railways that connect to export facilities, contributing to Canada’s steelmaking coal exports.
Average Trading Volume: 108,671
Technical Sentiment Signal: Sell
Current Market Cap: A$24.43M
Learn more about JAL stock on TipRanks’ Stock Analysis page.