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IPos

(managing director)
Focus: Nickel, Western Australia Nimy hunts Nimy Resources Ltd

Comment: ASX: NIM
The company’s flagship Carlingup new find Listing date: November 22
nickel project holds an existing resource
of 171,000t contained nickel and is IPO amount: $6.44 million
adjacent to First Quantum Minerals imy Resources Ltd is putting faith in Share price range since listing: 19.5-
Ltd’s Ravensthorpe nickel operation. Nrevered geological consultants New- 32.5c
NickelSearch launched into 2022 with exco to add The Mons project near For- Address: 254 Adelaide Terrace, Perth
a field campaign and completion of a restania to its growing list of nickel explo- WA 6000
helicopter EM survey. Targets generated ration success stories.
from the studies will be followed up this Newexco is nickel royalty, having con- Tel: +61 8 9261 4600
quarter. Website: nimy.com.au
tributed to several discoveries including
Flying Fox and Spotted Quoll (Western Social Media: @nimyresources
Areas Ltd), Nova (IGO Ltd), Savannah Email: info@nimyresources.com.au
North (Panoramic Resources Ltd) and Key personnel: Simon Lill (non-
many more. executive chairman), Luke Hampson
Nimy kicked off a 32sq km moving-loop (executive director), Christian Price
EM survey in December and a diamond (managing director)
drilling programme followed in January. Focus: Nickel, WA
Drilling is reaching depths up to 600m,
which is the furthest any exploration in the
area has gone down below.
Results from the EM survey will define
follow-up drill targets.
Nimy managing director Christian Price
said Newexco’s resume speaks for itself. had climbed to an 11-year-high of
“They’ve got a pretty good track record $US24,435/t. It is no secret the EV revo-
in WA looking for nickel sulphides and lution in the automotive industry is driv-
Nickelx Ltd they have done so for a number of years,” ing the nickel price to new heights – with
an effect on other critical battery miner-
Price told Paydirt. “Our team and chief
ASX: NKL geologist Stuart Peterson got Newexco als such as graphite, lithium and copper
on board to assist the with EM studies. also expected to increase in demand by
Listing date: May 7 There are guys are on the ground right up to four times by 2030.
No longer is Tesla the only poster boy
IPO amount: $7 million now doing the moving-loop work and for the EV revolution as well, joined by
Share price range since listing: 10.5- Newexco will be the ones interpreting the Volkswagen, General Motors and Chev-
26.5c results.” rolet who all either currently offer EV
Data from the moving-loop study could
Address: Level 3, The Read Buildings, be delivered as early as the end of Febru- models or are developing at least one.
16 Milligan Street, Perth WA 6000 ary. BHP Ltd, with a finger on the demand
Tel: +61 (08) 9322 7600 Nimy listed in November after a $6.44 pulse, signed a $130 million investment
in January into Kabanga Nickel Ltd for its
Website: nickelxlimited.com million IPO and has since seen its share nickel, copper and cobalt deposit in Tan-
Email: info@nickelxlimited.com price jump 43% to 32c/share as of mid- zania. This deal would fast track pre-de-
January.
Key personnel: Jonathan Downes Price attributed Nimy’s healthy run on velopment with first production targeted
(chairman), Matthew Gauci (managing the ASX to a perfect storm scenario with in 2025.
director) low nickel stockpiles, rising spot prices Pegging a promising nickel project on
Focus: Gold, nickel and copper, and a growing hunger for the commodity Australian land also welcomes another
Western Australia driven by the EV market. ethically sourced and professional nickel
“All those [aspects] combined has high- opportunity as automakers and produc-
Comment: lighted a shortage much earlier than pre- ers stress the importance of ESG funda-
Exploring in Western Australia’s Albany viously predicted in the market,” he said. mentals.
Fraser Belt, the company’s flagship Price mired at Nimy’s opportunity with In jurisdictions such as Indonesia,
Biranup project is adjacent to AngloGold its 1,761sq km tenement in WA nickel where cheap low-grade nickel pig iron is
Ashanti Ltd’s Tropicana gold mine. heartland. sourced, coal-fired power is often used
Although listing on the ASX with intentions “To find a district-scale nickel deposit, to produce the resource for stainless
of being a nickel and copper explorer, you usually have to go looking in places steel and other applications.
Nickelx appointed DDH1 to undertake such as Brazil, or Tanzania where BHP Kabanga Nickel chief executive Chris
1,000m of diamond drilling on the Black recently invested,” he said. “For us to Showalter publicly expressed that BHP’s
Dragon and Red Dragon gold targets at have a tenure like ours within 400km of investment into their deposit was crucial-
Biranup in December. Perth is a pretty rare thing…it’s exciting ly ESG-sound for both “[BHP] and the in-
as a junior.” vestor community around the world”.
At time of print, LME nickel prices – Fraser Palamara

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