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Nimy Resources Limited

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About NIM

Nimy Resources Limited (NIM) is an emerging exploration company, with the vision to discover and develop critical metals for a forward-facing economy in Western Australian, a Tier 1 jurisdiction. Nimy has prioritised the development of the Mons Project, a district scale land holding consisting of 16 approved tenements and 1 in the approval process, over an area of 2,806km² covering an 80km north/south strike of mafic and ultramafic sequences.

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What does Nimy Resources Limited (NIM) do?

If they had a nickel for every time they answered that…

Nimy Resources (NIM) is a nickel exploration company based in Perth. It currently holds a 100% interest in a single nickel-sulphide project being developed in Western Australia.

Nimy Resources’ project, The MONS Nickel Project, is situated 370 kilometres north-east of Perth in the Archean Murchison Domain of the Youanmi Terrane of the Yilgarn Craton. The project is comprised of 12 tenements covering an area of approximately 1,761 square kilometres.

As per Nimy Resources’ recent half-yearly report, “the tenement package is highly prospective for nickel, lithium, rare earths, gold, other precious metals and base metals targets.”

Nimy Resources is an Australian stock, listed on the ASX in November 2021. The company’s Initial Public Offering (IPO) was extremely successful, raising A$6.4M.

Is Nimy Resources a profitable company?

As Nimy Resources only listed on 22 November 2021, the company has only shared financial results for the half-year leading up to the end of December 2021.

As per their half-yearly FY2022 report, the company is not profitable having recorded a net loss of A$1.728m.

The company also reported a net cash position of A$5.749m.

Is NIM stock a buy?

Since its successful IPO, Nimy Resources has had nothing but good news to report.

On 17 March 2022, the company’s first diamond drill hole (NRRD0001) at Godley “intersected a 275m zone of komatiite ultramafic containing nickel and copper sulphides.” On 29 March 2022, the company discovered nickel bearing gossan. On 13 April 2022, the company’s second diamond drill hole (NRRD002) at Godley also “intersected a 438m thick zone of ultramafic and mafic rocks containing nickel and copper sulphides.”

Upon these discoveries, Nimy Resources’ Chairman, Simon Lill, stated:

“This is a highly promising start to our drilling campaign at Mons. We have now intersected nickel sulphides with nickel and copper mineralisation over substantial widths in two holes. These results provide strong evidence that Godley hosts a large mineralised system with potential for high-grade zones.”

As a result, bullish investors have been buying. NIM stock price skyrocketed over 150% between its IPO date of November 2021 and April 2022 from A$0.22 to over A$0.60.

As always, there are bears who cite Nimy Resources as an unproven company and dismiss its activities as entirely speculative.

Does NIM stock pay dividends?

No, not at this time. In the company’s half-yearly FY2022 report, the company’s directors recommended against paying dividends.

Who owns NIM stock?

Individual insiders hold the majority of NIM stock at 51.1% of the total float. 

Some of these insiders include Executive Director Neville Luke Hampson (29.19%), Non-Executive Chairman Simon Lill (2.63%), Chief Geologist Stuart Peterson (2.19%) and Managing Director Christian Price (1.75%).

Other significant shareholders include a mix of private companies and individuals including SJJSG Pty Ltd (7.97%), Ian Berry (3.99%), Chandler Soap & Wax Pty Ltd (2.19%) and

Bearay Pty Ltd (2.19%).

The general public owns 27.2% of NIM’s total float.

How do I buy NIM stock?

Stake offers a quick and easy way to purchase NIM shares – along with 2,000+ other Australian stocks and ASX ETFs – for a brokerage fee of only A$3.

Stake is a CHESS sponsored investing platform, meaning that when you buy ASX shares, you get a HIN (Holder Identification Number) and stocks are held in your name.

With Stake, you can be in the market in under 5 minutes, whether it's the ASX or Wall St. If you’re interested in building your portfolio by adding NIM, sign up today.

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Yes, the Stake platform allows you to buy NIM shares and over 12,000 stocks and ETFs across the ASX and Wall St.

One share of Nimy Resources Limited is valued at $0.06.

The ticker symbol for Nimy Resources Limited is NIM.

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The Nimy Resources Limited 52-week high stock price is $0.30.

The Nimy Resources Limited 52-week low stock price is $0.03.

As of 15/06/2024 Nimy Resources Limited has a market cap of $8M.

This does not constitute financial advice. You should do your own research before making an investment decision. Past performance is not a reliable indication of future performance. No representation is made as to the timeliness, reliability, accuracy or completeness of the market data provided.

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