A$5 million Raising to Accelerate Jameson TowardsCrown Mountain Approvals
Jameson Resources Limited ((ASX: JAL) (Jameson or the Company) proposes to undertake an equity raising to raise up to $5m (before costs). The raising will be undertaken via a 1-for-5.5 non-underwritten accelerated non-renounceable entitlement offer of new shares to eligible shareholders.
HIGHLIGHTS
- Equity raising of up to A$5m, with funds raised to seek to finalise environmental approvals and long-term partnerships with Indigenous Nations for the Crown Mountain Steelmaking Coal Project
- Strong support from key shareholders and strategic investors with more than A$3.6m of expected A$4m institutional component of the offer
- Commitment for participation from key existing shareholder King George Investments, significantly in excess of entitlement, along with commitments from new strategic investors including Matt Latimore-led M Resources and Tribeca Global Natural Resource fund
- The Company’s Directors have all confirmed participation in the entitlement offer
- Steelmaking coal prices currently trading at around 2026 highs1, reinforcing the project economics outlined in Jameson’s 2025 Crown Mountain Feasibility Update2
Managing Director Michael Gray commented:
“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. The Company is pleased with the support received from key shareholders and new investors, underlining the Crown Mountain Project’s status as one of the world’s most advanced greenfield premium steelmaking coal projects.
The investments from existing shareholder, King George Investments, and new investor, M Resources, highlight the Project’s advanced status among global developments and its potential to supply high-quality coking coal to Asian steelmakers. King George and M Resources represent two of the most successful coal developers and investors in Australia and we welcome their support and confidence in the exciting future at Crown Mountain.
Entitlement Offer
The raising will be conducted through a 1-for-5.5 accelerated non-renounceable entitlement offer to issue up to 144,208,654 new fully paid ordinary shares (New Shares) to raise up to A$5 million (before costs) at an offer price of A$0.035 per share (Offer Price). The Offer Price represents a discount of:
- 22.2% to last closing price of A$0.045 per share on 1 September 2026
- 19.1% to the 5-day VWAP of A$0.043 per share
- 18.9% to the 15-day VWAP of A$0.043 per share
The Entitlement Offer comprises an accelerated institutional component (Institutional Entitlement Offer) and a retail component (Retail Entitlement Offer).
The:
- accelerated Institutional Entitlement Offer is expected to raise up to approximately A$4 million; and
- the Retail Entitlement Offer is expected to raise up to approximately A$1 million.
Eligible shareholders are invited under the Entitlement Offer to subscribe for 1 New Share for every 5.5 existing Shares (Entitlement) held at…
Read More: A$5 million Raising to Accelerate Jameson TowardsCrown Mountain Approvals