Join our daily newsletter At The Bell to receive exclusive market insights
Jameson Resources was up 8.11 per cent after reporting high-quality coking coal in its Canadian project.
The company initially reported coal at the Crown Mountain project to be high quality earlier this month, now producing results exceeding expectations.
Coke strength after the reaction was scored at a healthy 73.5. Drum test results also showed high quality at scores of 92.7 and 81.5.
Coke stability showed a score of 59 and a hardness score of 67. These results from the north pit mark the most comprehensive to-date at Crown Mountain.
The company estimates in comparison to other coal qualities across the globe, Crown Mountain is showing a positive blend of volatility and hardness. Jameson Resources currently owns 90 percent interest in the Crown Mountain coal project.
Carbonisation duties are being carried out by company CanMet Energy.
These results mark testing at the north pit as virtually complete. The company plans to continue testing on the south pit, expecting carbonisation results in June.
