Jameson Resources Limited (ASX: JAL) (Jameson or Company) is pleased to announce the successful completion of the institutional component of its accelerated non-renounceable entitlement offer (Institutional Entitlement Offer) announced on 2 September 2026.
Highlights
- Institutional Entitlement Offer successfully completed.
- A$5.3 million raised under the Institutional Entitlement Offer and the Institutional Shortfall Bookbuild and placement allocation.
- Strong support received from existing shareholders and new institutional investors. Approximately A$1.17 million was raised through entitlement take up by institutional shareholders under the Institutional Entitlement Offer, with a further A$2.53 million allocated to institutional, professional and sophisticated investors through the Institutional Shortfall Bookbuild
- Demand from new shareholders resulted in an additional A$1.59 million being placed through a placement process at the offer price of A$0.035 (Placement).
- Retail Entitlement Offer to open to Eligible Retail Shareholders on 9 September 2026.
- Trading in JAL shares is expected to resume on an ex-entitlement basis today, 4 September 2026
The Institutional Entitlement Offer, which has now closed, formed part of the Company’s accelerated non-renounceable entitlement offer (Entitlement Offer) to raise up to approximately A$5.0 million at the Offer Price of A$0.035 per New Share on the basis of 1 new share for every 5.5 existing shares held at the Record Date.The Company confirms that eligible institutional shareholders elected to take up A$1.17m under the Institutional Entitlement Offer. Following completion of the Institutional Shortfall Bookbuild a further A$2.53m was allocated to eligible institutional, professional and sophisticated investors.
Due to demand, a further A$1.59m was allocated through a Placement allocation process, as agreed between the Company and the Lead Manager, having regard to the best interests of the Company. Jameson received commitments for a total of A$5.3m from existing shareholders and new institutional investors.
New Shares under the Placement will be issued at the Offer Price of $0.035 per New Share, with settlement, allotment and trading to occur on the same timetable as the Institutional Entitlement Offer.
Managing Director Michael Gray commented:
“We are pleased with the strong support received from existing shareholders and new investors. In particular, we welcome the backing of key existing shareholder King George Investments, and new strategic investors M Resources and Tribeca Global Natural Resources fund. Having successful coal investors and developers like this supporting Jameson 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.”
“We encourage existing shareholders to take up their entitlement in the upcoming Retail Entitlement Offer to join with the new investors and key strategic investors in progressing Crown Mountain through the final approval process.”
Proceeds from the Entitlement Offer will be used primarily to fund:
- completion of preparation of the Final Environmental Assessment Application for the Crown Mountain Steelmaking Coal Project for submission to regulators;
- continued engagement with Indigenous Nations in relation to the environmental assessment process and finalisation of long-term partnership agreements with key Nations including the proposed Shared Prosperity Agreement with the Yaq̑it ʔa·knuqⱡi’it First Nation;
- further engagement with steelmakers in relation to offtake and funding opportunities;
- Crown Mountain Resources (CMR) administration, project management costs and overheads;
- working capital and Jameson corporate costs; and
- costs of the Entitlement Offer.
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