Nimy Resources capital raise success

Nimy Resources (ASX:NIM) has successfully raised $678,000 through a Share Placement to sophisticated investors. These funds will support the exploration of gallium, copper, and other critical metals in Western Australia's Mons Belt. The placement involved issuing 11.3 million new shares at 6 cents each.

Strategic funding initiative overview

Nimy Resources has raised $678,000 through a Share Placement, issuing 11.3 million shares at 6 cents each, to fund ongoing exploration at the Mons Belt in Western Australia. The funds will be used for exploring gallium, copper, and other critical metals, as well as for general working capital. The placement was completed at a discount to recent market prices, with Charles Street Capital as Lead Manager. This move highlights Nimy's strategic focus on critical metal exploration, supported by a partnership with CSIRO for a mineral indicator study. The company is committed to advancing its resource exploration and development efforts.

Executive insights on capital raise

The successful completion of this capital raise underscores the confidence our existing and new shareholders have in our exploration activities. The funds will be instrumental in advancing our work at the Mons Belt, particularly in exploring gallium and copper, which are critical to future industrial applications.