Jameson Resources Limited · ASX:JAL
Jameson Resources — Investor Presentation (May 2025)
30 slides from Jameson Resources's investor presentation, May 26, 2025
Slide 1: Crown Mountain Project: Capital Raise and Investor Update
Jameson Resources Crown Mountain Project A new era in steelmaking coal Capital Raise and Investor Update May 2025 1
Slide 2: Contents
Jameson Resources - a new era in steelmaking coal Contents 1. Crown Mountain – 2024 CY Highlights • EA/EIS Technical Review GREENHILLS • Design changes to reduce project risks 2. Crown Mountain – 2025 Milestones • Resubmission of revised EA/EIS • Indigenous Engagement • Customer Engagement 2. Crown
Slide 3: Equity raising to progress Crown Mountain Project
Equity raising to progress Crown Mountain Project Crown Mountain Overview JAL has received binding commitments to raise approximately $3.5m at 3.5c per share via a two tranche share placement: • Tranche 1 - approximately 98.4 million New Shares will be issued to raise approximately A$3.44 million un
Slide 4: About Jameson Resources
About Jameson Resources • Jameson is an ASX listed pure steelmaking coal Share Capital Sustainable developer ASX ticker JAL growth to • Primary focus is its flagship asset, the Crown Share Price (9 May 2025) A$0.04 maximise Mountain Hard Coking Coal (HCC) Project • Actively considering steelmaking c
Slide 5: Jameson Resources - a new era in steelmaking coal
Jameson Resources - a new era in steelmaking coal • Jameson has the right strategy supported by its three strategic goals to meet its purpose and deliver its vision, ✓ The Right Strategy underpinned by three values, setting the foundation for how GREENHILLS it does business ✓ The Right Project • Sha
Slide 6: 2024 Calendar Year Highlights
2024 Calendar Year Highlights Regulatory Milestones Completed • Formal Public Review of Project Environmental Impact Study/Environmental GREENHILLS Assessment Application (EA/EIS) completed • More than 400 attendees at 5 public meetings throughout the Elk Valley • Overwhelming positive community sup
Slide 7: 2025 Milestone Schedule – EA/EIS process
2025 Milestone Schedule – EA/EIS process Environmental Assessment Process Milestones • Continued engagement with Indigenous Nations in relation GREENHILLS Ongoing to Information Requests and revised EA/EIS • Completion of updated air modelling and other technical End Mar-25 studies • Completion of a
Slide 8: 2025 Milestone Schedule – EA/EIS process
2025 Milestone Schedule – EA/EIS process During Technical Review engagement, Jameson has identified design options to enhance GREENHILLS the Project’s environmental sustainability and further reduce regulatory risk 1. Alternate Rail Loadout location o In conjunction with Indigenous Nations, a prefer
Slide 9: 2025 Milestone Schedule – Project Development
2025 Milestone Schedule – Project Development Project Development Milestones • Progress long term partnership agreements with key Indigenous GREENHILLS Nations Ongoing • Confirmation of Project Reserve Statement May-25 • Project Feasibility Update May-25 • Completion of Energy Efficiency Study with
Slide 10: Project Feasibility Update
Project Feasibility Update HCC Benchmark Time Study Capex Production Cost Post-tax NPV10 Price March 2015 Pre-Feasibility Study US$281M US$ 85.28/tonne US$ 155/t $267 M July 2020 Bankable Feasibility Study US$309M US$ 93.17/tonne US$ 165/t $217 M August 2021 Yield Optimisation Study US$309M US$ 89.4
Slide 11: 2025 Feasibility Update Overview – Capital and Operating Costs
2025 Feasibility Update Crown Mountain Overview– Capital and Operating Costs BFS July 2020 Feasibility Update 2025 Change Source Mobile Mining Equipment US$92M US$111M 20% Komatsu/SMS CAPITAL COST Wash Plant and Coal Handling US$102M US$131M 28% Sedgman (pre-production capital excl Infrastructure (r
Slide 12: 2025 Feasibility Update – Coal Price Forecasts
2025 Feasibility Update – Coal Price Forecasts Received Price (US$/tonne) Product Type LOM Production North and East Pits South Pit 2020 BFS PLV Hard Coking 24.7Mt US$ 165/t US$ 146/t Coal PCI Coal 3.8Mt US$ 115/t US$ 112/t • 2025 Price forecast based on average of published forecasts including Nov-
Slide 13: 2025 Feasibility Update – Operating Costs
2025 Feasibility Update – Operating Costs Production Costs (USD FOB Vancouver) $140 1st 4 years Average = US$86.84/t $120 Production Cost FOB US$/t $100 $80 $60 $40 $20 $- Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 Year 11 Year 12 Year 13 Year 14 Axis Title Waste ROM Coal
Slide 14: 2025 Feasibility Update – Economic Outcome
2025 Feasibility Update – Economic Outcome • 200% increase in NPV10 from 2021 Yield Study to 2025 Update 14
Slide 15: Steelmaking Coal – Global Consolidation
Steelmaking Coal – Global Consolidation • Due to the lack of new supply, major miners are seeking growth through consolidation • In 2024, there was >US$20 billion in M&A activity in the steelmaking coal sector with increasing project valuations and implied long term pricing forecasts Acquirer Sam Ch
Slide 16: Steelmaking Coal – Increasing Demand and Diminishing Supply
Steelmaking Coal – Increasing Demand and Diminishing Supply The Supply Challenge Global supply and demand for seaborne steelmaking coal • Wood Mackenzie forecast shortfall of supply of seaborne steelmaking coal of 74Mt per annum by 2040, which is a shortfall equivalent to: • 45% of Australian 2024 e
Slide 17: Government Support – Canadian response to Trump tariffs
Government Support – Canadian response to Trump tariffs • In response to the threat of 25% tariffs by the USA, the British Columbia Government has announced a detailed program to protect the Provincial economy • More than 95% of Canadian Steelmaking Coal is exported to Asian markets and none to the
Slide 18: Crown Mountain – the right project to meet demand for premium steelmaking coal
Jameson Resources - a new era in steelmaking coal Crown Mountain – the right project to meet demand for premium steelmaking coal ✓ The Right • Steel - the critical enabler of a low carbon future - infrastructure, renewables, electric vehicles Product • Steelmaking coal - strong long term price forec
Slide 19: Appendix: Crown Mountain Project Overview
Appendix Crown Mountain Project Overview
Slide 20: World-class opencut Reserves
World-class opencut Crown Mountain Reserves Geology Section A-A Section B-B Section C-C Section D-D Opportunity for extension of South Pit subject to further in-fill exploration 20
Slide 21: World-class opencut Resources and Reserves
World-class opencut Resources and Reserves Crown Mountain Resources and Reserves • Coal Resources of 90.2Mt are well Measured & Measured, Indicated understood and defined RESOURCES (Mt) Measured Indicated Indicated Inferred & Inferred • More than 70% of Resource is at Measured North Block 10.1 3.0 1
Slide 22: Mining Crown Mountain Production
MiningCrown andMountain Production Mine Scheduling Waste ROM Coal Strip Ratio Product Strip Ratio Pit MBcm Mt Bcm/t ROM Coal Mt Bcm/t Saleable North & East 73.6 18.0 4.1 10.3 7.2 South 196.5 39.5 5.0 18.2 10.8 Total 270.1 57.5 4.7 28.5 9.5 • Mine scheduling sees mining start in the low strip ratio N
Slide 23: Crown Mountain – Right Location
Crown Mountain –Right Location EVR – Fording River Mine Greenfield Project - Brownfield Location • Asian steelmakers are seeking secure supply from stable locations GREENHILLS • The Elk Valley mines have been operating for >40 years and EVR – Green Hills Mine have established a market position for p
Slide 24: Crown Mountain – Right ESG Strategy: Environment
Crown Mountain – Right ESG Strategy: Environment Crown Mountain has been designed to represent a new benchmark in environmental management. Key features: • Shallow coal seams ensures less waste rock minimising total disturbance area • Cumulative Effects Assessment to ensure the Project’s contributio
Slide 25: Crown Mountain – Right ESG Strategy
Crown Mountain – Right ESG Strategy • Selenium and Nitrate runoff is a major legacy issue from historical and current mining activity in the Canadian Rockies • Crown Mountain is adopting a proactive bioremediation approach to mitigate and prevent potential Selenium runoff • Mine designed to use ‘Lay
Slide 26: Crown Mountain – Right ESG Strategy: Social Partnerships
Crown Mountain – Right ESG Strategy: Social Partnerships The challenge of building new coal projects means that projects can only be developed in partnerships with all stakeholders to maximise opportunities for mutual benefit and sustainable positive legacy. Jameson seeking to forge partnerships wit
Slide 27: Crown Mountain – Right ESG Strategy: Indigenous Engagement
Crown Mountain – Right ESG Strategy: Indigenous Engagement • Jameson is committed to the United Nations Declaration of the Rights of Indigenous Peoples (UNDRIP) • Crown Mountain is within ʔakanuxunik ʔamakʔis, the unceded ancestral lands of the Yaq̓it ʔa·knuqⱡi ‘it First Nation • Consistent with UND
Slide 28: Competent Person Statement – July 2020
COMPETENT PERSON STATEMENT – July 2020 COMPETENT PERSON STATEMENT – July 2020 Resource Estimate The information in this ASX announcement that relates to the coal resource estimate of the Crown Mountain Coal Project developed in 2020, accurately reflects information prepared by Mr. Ivan Minev, P.Geo.
Slide 29: Key Risks
Key Risks This section identifies the areas that the directors regard as the major risks associated with an investment in the Company. Investors should be aware that an investment in the Company involves many risks, which may be higher than the risks associated with an investment in other companies.
Slide 30: Disclaimer
Disclaimer This presentation has been prepared by the Company based on information from its own and third-party sources and is not a disclosure document. No party other than the Company has authorised or caused the issue, lodgement, submission, despatch or provision of this presentation, or takes an