Jameson Resources raises $5M for coal approvals

• Jameson Resources launched a $5 million equity raising to progress approvals for its Crown Mountain Steelmaking Coal Project.
• The offer price of $0.035 per share represents a 22.2% discount to the last closing price.
• Capital raised will fund environmental approvals and Indigenous Nation agreements.

Jameson Resources (ASX:JAL) has announced an equity raising of up to $5 million through a 1-for-5.5 non-underwritten accelerated non-renounceable entitlement offer. The share issue price of $0.035.

“With the Crown Mountain Project having achieved key milestones towards final environmental approval, Jameson is working with Indigenous Nations and regulators to expedite this process,” said Jameson Resources Managing Director Michael Gray.

The transaction involves issuing up to 144,208,654 new ordinary shares, with an expected institutional component of $4 million.

The business stated that the funds will support project economics backed by 2026 coal price trends.

Following the announcement, the Jameson Resources share price was unchanged at $0.045.

Existing shareholder King George Investments committed to participate significantly above its entitlement alongside strategic investor M Resources.