The Australian Securities Exchange-listed company, focused on the Crown Mountain project in Canada, has agreed to place 13 million fully paid shares at 20c.
The company will pay 6% of the total funds raised and 2 million unlisted options to its corporate advisor Blackswan Equities, which is acting as lead manager to the placement.
Settlement of the placement is scheduled for on or about August 15.
“This placement assures the company is sufficiently funded to undertake the upcoming drilling program at Crown Mountain,” Jameson’s chief executive officer Art Palm said.
“We are scheduled to commence that work in mid-August.”
The program will include five large diameter diamond coreholes and up to eight reverse circulation holes.
According to the Jameson announcement, once the drilling program is completed a prefeasibility study will commence.
The 90%-owned project in British Columbia is expected to produce 1.3-1.9 million tons per annum of clean metallurgical coal from approximately 3.2Mtpa run of mine coal, supporting a potential mine life of 24 years.
