Nickel play Nimy enjoys solid ASX debut after raising $6m

WA nickel hopeful Nimy Resources has enjoyed a solid debut on the ASX after raising $6 million in an initial public offering (reports The West Australian).
25th November 2021

Shares in Nimy were up 10 per cent on their 20¢ issue price at 22¢ at 12.25pm for a market capitalisation of $26.4 million.

The company hold the 1761sqkm Mons project in the Yilgarn district 140km north of Southern Cross.

Nimy believes Mons could represent the northern extension of the rich Forrestania Belt, which hosts Western Areas’ Cosmic Boy, Spotted Quoll and Flying Fox mines.

The company has identified 30 high-grade massive sulphide targets as well as large, lower grade disseminated sulphide targets across six zones at Mons, which runs over 80km of strike in a north-south direction.

Nimy’s exploration program will begin with moving loop electromagnetic surveying and geochemical sampling followed by RC and diamond drilling next year.

The company is led by former Resources and Energy Group boss Christian Price with De Grey Mining chairman Simon Lill as chairman.

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