Jameson Resources' Equity Raising for Crown Mountain HCC Project

Jameson Resources Limited (ASX: $JAL) has secured binding commitments to raise approximately $5.25 million through a two-tranche share placement at 3.0c per share. The funds will be utilized to progress the Crown Mountain Hard Coking Coal (HCC) Project, which is considered the most advanced steelmaking coal project in Canada. The company's overarching goal is to create a positive legacy for a new era for steelmaking coal.

Executive Commentary on Crown Mountain HCC Project

To develop new projects, Jameson Resources emphasizes the importance of the right commodity, product, project, location, infrastructure, ESG strategy, engagement, and team. The company's management team in Australia and Canada has a substantial track record in regulatory processes, indigenous and stakeholder engagement, and value creation in successful greenfield coal development, financing, and operations.

Summary of Jameson Resources' Announcement

Jameson Resources' equity raising of $5.25 million will facilitate the progression of the Crown Mountain HCC Project, positioning it as the most advanced steelmaking coal project in Canada. The company's focus on sustainable growth and ESG leadership underscores its commitment to responsible raw material supply. With a strong emphasis on reducing carbon intensity, the project aims to create a positive legacy for the steelmaking coal industry. The completion of the Environmental Impact Study/Environmental Assessment Application and the ongoing regulatory progress reaffirm the project's advancement. The company's engagement with Indigenous Nations and stakeholders reflects its dedication to sustainable outcomes. While the project's timeline remains subject to regulatory milestones, the company is actively working towards achieving its development goals. Jameson Resources acknowledges the risks associated with the project, including regulatory approval, financial sustainability, climate change, resource and reserve estimation, production and cost estimates, development, cyber security, and commodity price and foreign exchange. The company remains committed to managing these risks effectively and maintaining transparency in its operations.