Nimy Resources (ASX: NIM) (Nimy or the Company) is pleased to announce that it has successfully completed a bookbuild to raise $678,000 (before costs) in a Share Placement to sophisticated, professional and otherwise exempt investors through the issue of 11,300,000 shares at 6 cents per share (Placement Shares)-(Placement).
Use of Funds:
Funds raised from the Placement, together with the Company’s existing cash reserves, will be used for ongoing exploration of Gallium, Copper and other critical metals at the Mons Belt in Western Australia and for general working capital purposes.
Nimy’s Executive Director Luke Hampson said:
Nimy Resources is pleased to see the strong support from existing and new shareholders for this Placement as it demonstrates the confidence investors have in the Company’s ongoing exploration activities across multiple commodities, most notably gallium and copper. This, along with the recently announced agreement with CSIRO to commence a mineral indicator study to classify the nickel-copper mineralisation styles and domains across the Mons Belt adds to a truly exciting time for the Company and its shareholders.
