Nimy Raises $1.72m at 6 Cents to Boost Mons Project Exploration

Strong Market Support for Placement

Nimy Resources (ASX – NIM) has announced a successful capital raise of $1.72 million through a share placement, which was oversubscribed and strongly supported by both existing and new institutional and sophisticated investors. The placement involved issuing 28.7 million new shares at 6 cents each, representing a discount of approximately 15% to recent trading prices, alongside 14.3 million free attaching options exercisable at 10 cents over the next three years.

Funding Exploration at Mons Project

The funds raised will be pivotal in accelerating exploration activities across multiple targets within the Mons Project in Western Australia. Key focus areas include advancing copper exploration at the Masson and Sneaky Squirrel prospects, which have shown promising copper, nickel, and precious group element mineralisation. Additionally, the company aims to establish a maiden JORC 2012 Compliant resource for its high-grade gallium discovery at Block 3, a critical step towards commercialising this emerging commodity.

Strategic Positioning in Gallium and Copper Markets

Gallium, a rare metal with growing demand in electronics and renewable energy sectors, is becoming a strategic focus for Nimy. The company is actively progressing discussions with potential offtake partners in the US and Europe, signalling intent to secure future sales channels. Meanwhile, the copper targets at Mons offer a belt-scale opportunity that could underpin long-term growth, especially as copper remains vital for global decarbonisation efforts.

Placement Details and Shareholder Impact

The placement shares will rank equally with existing shares, and the options provide investors with potential upside if the share price appreciates beyond 10 cents within three years. The capital raise was facilitated by Charles Street Capital and GBA Capital, who will receive a 6% fee. This injection of capital complements Nimy’s existing cash reserves, positioning the company to maintain momentum across its exploration pipeline.

Looking Ahead

With exploration programs ramping up, Nimy Resources is poised to deliver significant updates on resource definition and assay results in the coming months. The company’s dual focus on copper and gallium could attract increased investor interest as these commodities gain prominence in the global market.