Jameson Resources
Jameson Resources (ASX:JAL) is focused on the identification and acquisition of strategic coal projects in Western Canada and Australasia.
The company has entered into an option agreement to acquire the Crown Mountain Coal Project in the Elk Valley region of south-east British Columbia. Two significant metallurgical coal operations are located within 20km of the project area.
Jameson Resources agrees to Basin Coal Mine twelve month extension
Tuesday, June 01, 2010
Jameson Resources (ASX: JAL) has agreed to a twelve month extension of term and also a revision of the Option to Purchase Agreement with project vendors Compliance Energy Corporation (CVE: CEC) relating to the Basin Coal Mine Project. The agreement is subject to formal documentation.
The mine is located 300 km east of Vancouver near the town of Princeton, British Columbia.
The Agreement has been amended such that there will be no further consideration payable by Jameson in the event that it elects to exercise the Option to acquire the Basin Coal Mine Project. This would provide the company with an opportunity to conduct further exploration.
John Holmes, executive director, said the company has agreed to meet the property holding costs related to the Basin Coal Mine during the twelve month extension (estimated to be approximately CAD $150,000).
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