Jameson Resources (ASX:JAL) has received an exploration tax credit of C$608,220 in relation to activity at its Crown Mountain and Dunlevy projects in British Columbia, Canada.
The funds further strengthen the company’s financial position as it continues to execute the environmental permitting process at the Crown Mountain Coking Coal Project.
A further refund is expected next year.
Jameson now has $2.8 million in cash with no debt.
The Crown Mountain project is located in the Elk Valley, where most of Canada’s hard coking coal production is sourced.
It is close to existing world-class infrastructure, including rail lines and power supply, in an established mining area with ample labour and specialized services.
The company has also achieved administrative cost reductions in the quarter ended 30th June 2015 with admin costs falling 60% from the previous corresponding quarter to $141,000.
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News: Jameson Resources’ tax credit to advance coking coal project in Canada
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