East Coast Research has reaffirmed its positive outlook on Nimy Resources Ltd (ASX: NIM), increasing its target price to $0.221 per share, representing a potential upside of approximately 263% from the company’s recent trading price of $0.061. The updated valuation follows Nimy’s maiden JORC Inferred Resource at the Block 3 Gallium Project within its flagship Mons Project in Western Australia.
The independent research report highlights Nimy’s emerging position as a potential strategic supplier of gallium outside China-dominated supply chains, supported by growing demand from semiconductor, defence and advanced technology sectors. East Coast Research noted that the maiden resource, ongoing metallurgical studies, exploration upside and strategic engagement with U.S.-based critical minerals group M2i Global have significantly strengthened the project’s development pathway.
According to the report, the Block 3 resource confirms a large-scale gallium-bearing system that remains open along strike and at depth, with multiple exploration targets identified that could materially expand the current resource inventory. East Coast Research also cited Nimy’s collaboration with CSIRO, progress toward a Scoping Study and increasing government support for critical minerals as key factors supporting the company’s long-term growth potential.
Download full ECR Report here >