Jameson Resources: A$5.3m Institutional Entitlement Offer and Placement

We are delighted to announce that PAC Partners has acted as Lead Manager to Jameson Resources Limited (ASX:JAL) ("Jameson") on its oversubscribed A$5.3 million Institutional Entitlement Offer and Placement.

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Jameson is an independent steelmaking coal developer focused on its flagship Crown Mountain Steelmaking Coal Project, located in the Elk Valley of southeast British Columbia, Canada. The Elk Valley is regarded, alongside Queensland's Bowen Basin, as a premier source of premium low-volatile steelmaking coal. Crown Mountain sits between existing Elk Valley Resources operations and has access to common-user rail linking the coalfields to deep-water export terminals. A Bankable Feasibility Study completed in July 2020 established the project as a high-quality, low-cost steelmaking coal development.

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The fundraise comprised an accelerated non-renounceable entitlement offer to eligible shareholders on a 1-for-5.5 basis, together with a placement to new institutional investors. The offer received strong support from existing shareholders and new institutional investors, including King George Investments, Matt Latimore, M Resources and Tribeca Investment Partners.

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The proceeds will be used to accelerate Crown Mountain towards final environmental approvals, to progress partnership agreements with Indigenous Nations, and to advance engagement with prospective steelmaking customers.

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Jameson Managing Director Michael Gray said the backing "reflects the quality of the Crown Mountain Steelmaking Coal Project as we continue to advance it towards final environmental approvals, Indigenous partnership agreements and engagement with prospective steelmaking customers."

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