Jameson Resources Limited (ASX: JAL) has announced an equity raising to secure up to $5 million to advance the Crown Mountain Steelmaking Coal Project towards final environmental approvals and long-term partnerships with Indigenous Nations. The raising will be conducted via a 1-for-5.5 non-underwritten accelerated non-renounceable entitlement offer of new shares to eligible shareholders.
Material actions and disclosures
The funds raised will be used primarily to complete the preparation of the final environmental assessment application for the Crown Mountain Coal Project for submission to regulators. The company expects to finalise the application by the end of 2026. Additionally, the proceeds will support continued engagement with Indigenous Nations in relation to the environmental assessment process and the finalisation of long-term partnership agreements with key Nations, including the proposed Shared Prosperity Agreement with the Yaq̑it ʔa·knuqⱧi‘it First Nation.
Jameson is also committed to further engagement with steelmakers in relation to offtake and funding opportunities, as well as costs relating to the administration of Crown Mountain Resources Limited, project management costs and overheads, working capital and corporate costs, and costs of the Entitlement Offer.
Forward commitments
Jameson continues to engage with Indigenous Nations to ensure comprehensive assessment of the Project Environmental Assessment (EA). The company is developing a long-term Shared Prosperity Agreement (SPA) with the Yaq̑it ʔa·knuqⱧi‘it First Nation, which will establish a long-term partnership overseeing the development, design, operation, closure, and stewardship of the lands and waters.
The company is also working to finalise the Final Revised Environmental Application, incorporating design changes developed with Indigenous Nations to enhance water management and fish habitat protection. On submission, the BC Environmental Assessment Office (EAO) has a legislated 150 days to develop its Assessment Report and draft Environmental Certificate with conditions.
Jameson’s 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.”