Nimy Offers Shares at 15.28% Discount in $2.5M Capital Raise
Nimy Resources has launched a $2.5 million Share Purchase Plan offering shares at a 15.28% discount to eligible shareholders, aiming to accelerate copper exploration and finalize a gallium resource.
- Share Purchase Plan to raise up to $2.5 million
- Shares offered at $0.06, a 15.28% discount to recent VWAP
- Funds targeted at copper exploration and gallium resource completion
- Plan complements recent placement and requires no shareholder approval
- Eligible shareholders limited to Australia and New Zealand residents
Nimy Resources Launches Share Purchase Plan
Nimy Resources Limited (ASX, NIM) has announced a new Share Purchase Plan (SPP) designed to raise up to $2.5 million by offering shares to existing eligible shareholders in Australia and New Zealand. The offer price is set at 6 cents per share, representing a notable 15.28% discount to the company's recent five-day volume weighted average price, providing an attractive entry point for investors.
Strategic Use of Funds
The capital raised through this SPP is intended to complement a recent placement completed in August 2025. Nimy plans to deploy these funds to accelerate copper exploration activities at its Sneaky Squirrel and Masson projects, as well as to complete the JORC 2012 Compliant resource estimate for the Block 3 gallium project. Additionally, the funds will support general working capital needs, underpinning the company’s operational flexibility.
Plan Details and Eligibility
Eligible shareholders, defined as those holding fully paid ordinary shares with registered addresses in Australia or New Zealand as of 19 September 2025, can participate in the plan. The maximum subscription per shareholder is capped at $30,000. Notably, shareholders holding shares via nominees but not resident in these countries, including US residents, are excluded from participation. The plan is not underwritten and does not require shareholder approval, giving the board discretion over the final number of shares issued.
Process and Timetable
The offer opens on 25 September 2025 and closes on 17 October 2025, with new shares expected to commence trading on 23 October 2025. Nimy Resources is facilitating the process digitally via the Automic Investor Portal, foregoing printed materials in favor of electronic access, reflecting a modern approach to shareholder engagement.
Outlook and Market Implications
This capital raising initiative signals Nimy’s commitment to advancing its exploration pipeline and resource development. By offering shares at a discount and targeting existing shareholders, the company aims to strengthen its capital base while maintaining shareholder loyalty. The success of the SPP will be a key indicator of investor confidence in Nimy’s growth prospects and exploration strategy.
Bottom Line?
Nimy’s upcoming SPP results will be pivotal in shaping its exploration momentum and market positioning.
Questions in the middle?
- Will shareholder uptake meet the $2.5 million target or fall short?
- How will the accelerated exploration impact Nimy’s resource estimates and valuation?
- Could future capital raises be necessary if exploration results require further funding?
