An announcement from Nimy Resources Limited ( (AU:NIM) ) is now available.
Nimy Resources Limited has successfully raised $1.150 million through a share placement to fund a drilling program at its gallium discovery site in Western Australia. The funds will support the establishment of a maiden JORC Resource at Block 3, which is integral to Nimy’s strategy to supply gallium to the US under a collaboration agreement with M2i Global. This initiative aligns with the US’s efforts to diversify its sources of critical minerals away from China, presenting a significant opportunity for Nimy. The share placement involves issuing new shares at a discount, with options attached, subject to shareholder approval.
More about Nimy Resources Limited
Nimy Resources Limited is a company operating in the mining industry, focusing on the exploration and development of critical minerals. The company is currently working on a gallium discovery project in Western Australia, aiming to establish a maiden JORC Resource. Nimy is collaborating with M2i Global, a US minerals specialist, to supply critical minerals to the US market, particularly as the US seeks to reduce its reliance on China for such resources.
YTD Price Performance: 5.00%
Average Trading Volume: 574,373
Technical Sentiment Consensus Rating: Buy
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