Nimy Resources has initiated a $2.5 million Share Purchase Plan offering eligible shareholders shares at a 15.28% discount, aiming to fund key resource projects and working capital.
- Share Purchase Plan offers shares at $0.06, a 15.28% discount to recent VWAP
- Eligible shareholders can invest up to $30,000 each
- Plan aims to raise up to $2.5 million for resource development and exploration
- Funds targeted for Gallium resource establishment and advancing discoveries
- Offer closes on 17 October 2025 with shares expected to trade shortly after
Nimy Resources Announces Discounted Share Purchase Plan
Nimy Resources Limited (ASX, NIM) has officially launched a Share Purchase Plan (SPP) aimed at raising up to $2.5 million to accelerate its resource exploration and development activities. Eligible shareholders in Australia and New Zealand were sent offer booklets and personalised application forms on 25 September 2025, inviting them to purchase shares at a discounted price of $0.06 each. This price represents a notable 15.28% discount to the company’s recent five-day volume weighted average price (VWAP).
Details of the Offer and Eligibility
The SPP allows shareholders registered as of 19 September 2025 to subscribe for up to $30,000 worth of new shares, with the maximum number of shares per participant capped at 500,000. The offer is non-renounceable, meaning shareholders cannot transfer their rights to others, and is not underwritten, placing discretion on the company’s board to manage subscription levels and potential scale backs. The plan closes on 17 October 2025, with new shares expected to be allotted and commence trading on the ASX by 23 October 2025.
Strategic Use of Raised Funds
Proceeds from the SPP will primarily support the establishment of a maiden JORC 2012 Compliant Gallium resource at the Block 3 project, alongside advancing exploration at the Masson and Sneaky Squirrel discoveries. Additionally, funds will facilitate ongoing discussions with potential offtake partners for Gallium and provide general working capital to support the company’s operations. The board retains flexibility to adjust the allocation of funds as circumstances evolve.
Market and Regulatory Considerations
The discounted issue price complies with ASIC regulations, ensuring the offer price is no less than 80% of the VWAP over the specified period. However, shareholders are cautioned that share prices may fluctuate between the offer announcement and the issuance of new shares, reflecting the speculative nature of resource exploration investments. The company has also outlined strict eligibility criteria, excluding shareholders based in the United States and emphasizing compliance with relevant securities laws.
Looking Ahead
As Nimy Resources embarks on this capital raising, the market will be watching closely to gauge shareholder appetite and the impact of the new capital on the company’s exploration progress. The success of the SPP could provide a significant boost to Nimy’s development pipeline and position it well for future growth opportunities in the Gallium sector.
Bottom Line?
Nimy’s SPP sets the stage for accelerated resource development, but investor uptake and market response will be key to watch.
Questions in the middle?
- Will the SPP reach its $2.5 million target or face scale back?
- How will the new capital impact Nimy’s exploration timelines and milestones?
- What progress will be made in Gallium offtake negotiations following the raise?