Jameson Resources (JAL)

Shares / Stock Code

JAL

Stock Exchange / Sharemarket

Australian Securities Exchange

Jameson Resources (JAL) focuses on gold, nickel and uranium mineralisation projects. The company's primary project is the Ora Banda project which is located in north-west of Kalgoorlie. JAL has also applied for two exploration licences known as the Errabiddy Project.

Jameson Resources was listed on the Australian Stock Exchange on 18th December 2007. The Company has entered into an option agreement to acquire the Basin Thermal Coal Mine (“Basin”) located in British Columbia, Canada.

Basin has a large resource base of 124 million tonnes of raw coal with significant exploration upside. The high volatile bituminous C thermal coal is of export quality with specifications after washing including 5,660kcal/kg (as received), 12% ash, 10.8% moisture, and 0.56% sulphur. Independent expert studies on the coal have confirmed that the specifications including low sulphur (0.56%) and phosphorous (0.012%), and HGI 46, indicate Basin Coal is suitable as an enhancing product for Western Canadian PCI coals.

The Company is in the final stages of a feasibility study to recommission the existing mine at an expanded production rate between 500,000 and 700,000 tonnes per annum. Feasibility will be completed in the March quarter of 2010 and pending a decision to mine, production could commence by late 2010.

Preliminary estimates support a cash operating margin of approximately $US20 per tonne based on 2010 futures contract pricing of thermal coal. Prospective buyers of thermal coal in Western Canada include international utilities and local cement manufacturers. Coal traders from the North Pacific have expressed strong interest in the coal from Basin.

Jameson Resources (JAL) Products and Services

  • Exploration for gold and nickel

Jameson Resources (JAL) Locations and Subsidiaries

Jameson Resources Head Office
Level 2, 79 Hay Street,
SUBIACO, WA, AUSTRALIA, 6008
Phone: 61 8 9200 4473
Fax: 61 8 9200 4463

Jameson Resources (JAL) Share Price

Submitted by ASX Listed Company on 26 April, 2010 - 03:47