Jameson Advances Crown Mountain with $3M Capital and Coal Price Surge
Jameson Resources has made significant strides in progressing its Crown Mountain coal project, securing a $3 million capital injection and navigating key board changes while advancing environmental approvals.
- Progress on environmental assessment submissions expected by February 2026
- Secured $3 million capital raise from strategic coal investor King George Investments
- Retirement of Chair Nicole Hollows; Managing Director Michael Gray acting as interim Chair
- Coal price surge to US$235/t supports improved project economics
- Ongoing Indigenous engagement with Yaq̓it ʔa·knuqⱡi ‘it First Nation on partnership agreements
Environmental Assessment Progress
Jameson Resources Limited has advanced its Crown Mountain Hard Coking Coal Project in British Columbia by formally submitting responses to the Canadian federal Impact Assessment Agency’s information requests. These submissions, expected to be completed by the end of February 2026, follow extensive consultations with provincial reviewers and Indigenous groups. The British Columbia Environmental Assessment Office anticipates issuing a formal process order soon, paving the way for a ministerial decision on the project’s environmental approval.
Strategic Capital Raise Strengthens Position
In December 2025, Jameson secured a binding commitment for a $3 million capital raise through a share placement to King George Investments, a Brisbane-based investor with a focus on steelmaking coal. The placement was priced at a 16.7% discount to the prior closing price, with half the funds already received and the remainder subject to an option exercisable by June 2026. This injection is earmarked to support ongoing environmental assessment work and Indigenous engagement, critical steps toward project development.
Leadership Transition Amid Board Changes
The company’s Chair, Nicole Hollows, retired at the November 2025 Annual General Meeting after nearly six years of service. Her departure marks a significant leadership change, with Managing Director Michael Gray stepping in as interim Executive Chair while the board searches for a permanent replacement. Hollows was acknowledged for her dedicated stewardship during a pivotal phase for Jameson.
Favourable Market Conditions Bolster Project Outlook
Jameson highlighted a notable increase in steelmaking coal prices, rising from US$170 per tonne in mid-2025 to US$235 per tonne by January 2026. This surge aligns with the company’s updated feasibility study forecasts and enhances the economic viability of the Crown Mountain project, despite inflationary pressures on capital and operating costs in Canada.
Ongoing Indigenous Partnerships and Project Stewardship
Engagement with the Yaq̓it ʔa·knuqⱡi ‘it First Nation continues to be a cornerstone of Jameson’s approach, with negotiations progressing on an Impact Benefit Management Agreement. This agreement aims to establish a long-term partnership overseeing project development, environmental stewardship, and community economic opportunities, including training and employment initiatives for Indigenous members.
Financial and Operational Snapshot
Jameson ended the quarter with approximately 740 million shares on issue and a cash balance of A$1.76 million. The company reported no recordable injuries during the period, maintaining a strong safety record. While expenditure increased due to environmental assessment activities, management expects costs to moderate in the coming quarter. The Dunlevy Project remains inactive, with potential surrender of tenements under consideration.
Bottom Line?
With environmental approvals nearing and fresh capital secured, Jameson’s next moves will be critical in translating potential into production.
Questions in the middle?
- When will the British Columbia Environmental Assessment Office issue its formal process order?
- Will King George Investments exercise its option to complete the second tranche of the placement?
- How will the appointment of a new Chair influence Jameson’s strategic direction?
