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JAMESON RESOURCES LIMITED — Capital/Financing Update 2020
Jul 19, 2020
65152_rns_2020-07-19_dd6983fd-961c-432a-9730-0fd3edb8f62c.pdf
Capital/Financing Update
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ASX RELEASE
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20 JULY 2020
CAPITAL RAISING TO ADVANCE CROWN MOUNTAIN
Jameson Resources Limited (‘Jameson’ or ‘the Company’) is pleased to announce the placement of 39.565 million new fully paid ordinary shares in the Company at an issue price of $0.12 per share to raise gross proceeds of approximately $4.74 million (‘Placement’). The Placement is to advance the Crown Mountain Hard Coking Coal (‘HCC’) Project in British Columbia, Canada and was well supported by existing shareholders.
This issue price represents a 22.6 per cent discount to Jameson's last closing price of 15.5 cents on 15 July 2020 and a 18.5 per cent discount to the ten-day volume weighted average price of 14.7 cents.
The Placement shares are expected to be allocated on Tuesday, 28 July 2020, pursuant to the Company’s existing 15% placement capacity under ASX Listing Rule 7.1.
Jameson’s major shareholder AustralianSuper have subscribed for approximately $1 million of the Placement which will increase AustralianSuper’s shareholding from 14.00% to 14.97% per cent.
Jameson is grateful for the ongoing support it has received from its long-term shareholders.
On completion of the Placement, Jameson’s cash position will increase to approximately $7.3 million ($6.0m Jameson; $1.3m NWP Coal Canada Ltd) and the funds raised will primarily be used towards the Environmental Assessment Application which is on track for March Quarter 2021 submission, undertaking optimisation work on the Bankable Feasibility Study and for general working capital purposes.
Euroz Securities Limited acted as Lead Manager to the Placement.
This announcement is authorised for release to the market by the Board of Jameson Resources Limited.
For further information, please contact Joel Nicholls Executive Director [email protected]
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Jameson Resources I ABN 89 126 398 294 | Suite 5, 62 Ord Street, West Perth WA 6005 | [email protected] |+61 8 9200 4473
About Jameson Resources Limited
Jameson Resources Limited (ASX:JAL) is a junior resources company focused on the acquisition, exploration and development of strategic coal projects in western Canada. The Company has an 77.8% equity interest in NWP Coal Canada Limited (“NWP”) which holds a 90% interest in the Crown Mountain Coal Project, and a 100% direct interest in the Dunlevy coal project located in British Columbia. Jameson’s tenement portfolio in British Columbia is positioned in coalfields responsible for the majority of Canada’s metallurgical coal exports and are close to railways connecting to export facilities.
To learn more, please contact the Company at +61 8 9200 4473, or visit: www.jamesonresources.com.au
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