Clinch Resources (TSX:CLCH) has begun trading shares on the Toronto Stock Exchange (TSX), following a reverse takeover and concurrent US$46 million financing and 38.8% indirect acquisition of JJ Resources.
JJ Resources owns a fully permitted 24,000-acre Sewell Mountain mid-volume metallurgical coal mine in West Virginia, US.
Clinch intends to use the funds from the financing to develop its large metallurgical coal project ARI, which has an estimated measured and indicated resource of 111 million tons of metallurgical coal located over 54,000 acres. ARI has had extensive drilling history and verified geological continuity of measured resources and 47 million tons of indicated resources.
CEO Jon Nix says the company is “excited” to complete the reverse takeover and offering, as well as become a public entity.
“Met coal, which is essential for steelmaking and is in tight supply due to permitting constraints, has recently seen pricing support strengthen due to strong global demand,” Nix says.
“These factors, as well as the addition, in November 2025, of met coal to the US Department of Interior’s Critical Mineral List, will contribute, we believe, to a stronger global market demand for met coal.”
Executive vice president of capital development and investor relations Robert Gaylor adds that the US Department of Interior’s Critical Mineral List comprises about 60 minerals considered crucial for the economic well-being of the global economy.
“It’s exciting to be the newest coal producer in the US at a time where the commodity has gone from targeted to protected,” Gaylor says.
Clinch Resources is a Tennessee-based metallurgical coal miner focused on supplying high-quality coking coal to steel-based manufacturing facilities domestically for critical global infrastructure.
Write to Aaliyah Rogan at Mining.com.au
Images: Clinch Resources
