Nimy raises $4.88m in SPP amid surging demand for exposure to its WA gallium and rare earths project
Final raising was increased from initial target of $2.5m to the maximum amount allowed under SPP rules; Proceeds will be used to advance its gallium, rare earths and base metals assets
Nimy Resources (ASX: NIM) is pleased to advise that its Share Purchase Plan (SPP) has closed after raising $4,887,000 (with applications exceeding $5,430,000).
This outstanding result was the maximum allowed under the regulations governing SPPs, which limited the SPP to 30% of the 271,510,124 shares on issue at $0.06 per share. The amount raised far exceeded the Company’s initial target of $2,500,000.
The SPP offered eligible shareholders (those on the register at 5.00pm on 19 September 2025 with a registered address in either Australia or New Zealand) the opportunity to subscribe for up to $30,000 of fully-paid ordinary shares at an issue price of $0.06 per share.
Nimy Managing Director Luke Hampson said:
The exceptionally strong result reflects investors’ confidence in our Block 3 gallium discovery, which also hosts rare earths, as a well as the exploration upside at our base metals projects. We are well on the way to completing the maiden JORC gallium resource and we have ongoing exploration programs planned for gallium and base metals. The proceeds of this highly successful SPP will ensure we are fully-funded to maximise these opportunities in a timely manner”.
The strong interest in the SPP required the Company to scale back applications, which it did in line with the policy noted in the Offer Booklet. Excess application money resulting from this will be refunded to shareholders by direct credit deposit to their nominated bank account.
A total of 81,450,000 new shares will be issued under the SPP on 22 October 2025, ranking equally with existing ordinary shares. Holding statements are expected to be dispatched to participants on the same date.