Jameson Resources
Jameson Resources 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 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.
Jameson Resources divests non core gold assets at Ora Banda
Near term coal producer Jameson Resources (ASX: JAL) is divesting non core gold assets, agreeing to sell its Ora Banda gold assets in Western Australia to Winchester Resources Limited. Winchester is an Australian public company which intends to raise $2.0 million via an Initial Public Offering on the ASX.
As consideration, Jameson will receive 10,000 and the issue to Jameson 750,000 fully paid ordinary shares in Winchester upon listing.
The agreement with Winchester is conditional upon Winchester listing on the ASX within six months.
The divestment will enable Jameson to focus upon the recommissioning of the Basin thermal coal mine in British Columbia.
Other Jameson Resources articles
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24/11/09 Jameson Resources targets Feasibility Study completion for Basin Coal mine in 1Q 2010
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13/08/09 Jameson Resources a star performer on ASX, with Basin Coal Mine recommissioning plans in Canada
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22/07/09 Jameson Resources increases thermal coal resource at Basin Coal Mine to 117 million tonnes
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04/06/09 Jameson Resources raises $1.7 million to progress restart of Basin Coal Mine in Canada
Other Jameson Resources news
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03/02/10 Jameson Resources finalising feasibility at Basin Thermal Coal Mine
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16/10/09 Jameson Resources Basin Coal quality confirmed as a PCI product for export market
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18/09/09 Jameson Resources ticks another box to bring Canadian coal mine into production
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29/07/09 Jameson Resources has strong quarter as Basin Coal mine momentum, pushes shares higher
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12/02/09 Jameson Resources to acquire thermal coal mine in Canada









