NIMY prospectus

New WA nickel sulphide explorer set for $6M float

Nimy boasts extensive land holding in world-scale Forrestania nickel belt.
Key Points
  • 30M shares being offered at an issue price of 20c per share to raise $6M
  • Over-subscriptions of up to a further $1.5M may be accepted
  • Flagship asset: Mons Nickel Project is situated within the Karroun Hill District in Western Australia and at the northern end of the Forrestania nickel belt
    • The Forrestania Nickel Belt hosts a world-scale nickel endowment at the southern end with numerous other high-grade nickel deposits extending to the north; including Spotted Quoll, Flying Fox and Cosmic Boy
  • The Mons Nickel Project boasts an impressive, district-scale 1,761sqkm tenement holding covering the key geological structures which are known to host nickel sulphide mineralisation
  • Limited gold drilling at Mons Project by previous holders highlighted prospective ultramafic rock sequences for follow up exploration
  • Deep R/C drilling and surface exploration by the Nimy exploration team has identified a district-scale emplacement of a strategic mafic/ultramafic rock suite containing fertile Kambalda Style komatiites
  • Immediate work plan following completion of the IPO includes:
    • Moving Loop Electromagnetics (MLEM)
    • Follow up R/C and diamond drilling
  • Experienced Board and Management team
  • Key dates: Offer opens on 14 October 2021, closes on 10 November 2021; ASX listing targeted for 22 November 2021.

Investors are being given a rare opportunity to gain exposure to a district- scale, nickel sulphide exploration project in one of WA’s most productive nickel belts thanks to the keenly-awaited share market float of Nimy Resources Limited.

Nimy’s founders have spent six years systematically accumulating a large 1,761sqkm of highly prospective acreage in the Karroun Hill District that forms the northern extension of the world-scale Forrestania nickel belt.

The Forrestania nickel belt, which runs parallel to the Kambalda nickel belt has an outstanding production history, hosting several prolific deposits including Spotted Quoll, Flying Fox and Cosmic Boy.

Nimy’s flagship asset, the Mons Project, is located 140km north of Southern Cross and north-west of the internationally famous Kambalda nickel district. It hosts an 80km strike length of the same key geology and favourable structures which contain the famous nickel sulphide deposits within both the Forrestania and Kambalda nickel belts.

Mons Nickel Project

Despite the extensive exploration and production success in the southern and central areas of the Forrestania nickel belt, little or no nickel exploration has been undertaken on the Mons Project tenements.

Nimy is seeking to raise a minimum of $6 million with scope to increase this to $7.5 million (before costs) by the issue of a minimum of 30,000,000 shares and a maximum of 37,500,000 shares at 20c a share through an Initial Public Offer.

The proceeds of the IPO will enable Nimy to ramp up exploration at Mons nickel mining Project, including a Moving Loop Electro Magnetic (MLEM) survey which is scheduled to start immediately following Nimy’s anticipated listing on the ASX.

The results of the MLEM survey will be used to identify bedrock conductor plates that will be used to refine the nickel exploration targets for the diamond drilling program.

Raven Corporate Management is acting as lead manager for the IPO. Optiro Consultants undertook the independent technical assessment of the project.

Essentail Nickel, Forrestania nickel belt, Mons Nickel Project, nickel sulphide, NIMY

Share this post