NIM - Nimy Resources Limited today closed up another 30% to finish at 12.5c on $170k stock traded. There was no news out today but back in November they announced a placement to raise $678k @ 6c through the boys and girls at Charles Street Capital who were kind enough to offer me some stock.The funds raised will be used for ongoing exploration of Gallium, Copper and other critical metals at the Mons Belt in WA.Not long after lunchtime they were handed a speeding ticket from the ASX after increasing from 8.7c last Thursday to an intraday high of 12.5c today.NIM responded that they were unaware of any unknown information, however noted its intention to establish a maiden JORC Exploration Target at its high-grade gallium discovery at Block 3 East within the Mons Project in WA.NIM expects that an announcement will be made on this matter as soon as practical possible but likely within a fortnight, once the data is interpreted and understood by the company.Nimy had also advised that initial discussions with potential industry partners commenced after approaches from two overseas groups which have expressed strong interest in securing offtake rights to the Block 3 East gallium.NIM confirms that discussions remain ongoing with no agreement (either binding or non-binding) having been reached.Hot off the press from the CES Tech Conference in Las Vegas, NVIDIAs new flagship datacenter and GPUs products will utilise liquid gallium instead of thermal paste.Nvidia had to optimize the performance of the thermal interface between the GPU and the radiator, and this is where a liquid metal thermal interface comes into play. Some details on last year's exploration update are listed below:Gallium in soil geochemistry extends footprint beyond high grade drill resultsNimy Resources is pleased to advise of its intention to establish a maiden JORC Resource at its high-grade gallium discovery at Block 3 East within the Mons Project in WA. Results from a recently completed soil sampling program at Block 3 East have extended the mineralised footprint and the potential size of the gallium system and will underpin upcoming step-out drilling.
Soil geochemistry outlines an anomalous surface area of approx. 900m x 650m with a maximum value of 48ppm Ga₂O₃.
Nimy now targeting maiden gallium JORC Resource with upcoming infill drilling program.
High-grade gallium in drilling already outlined over 160m strike, starting at surface.
Initial discussions with potential industry partners commenced.
Nimy plans to undertake an infill drilling program in January, paving way for completion of the resource.Nimy’s decision to establish a resource follows preliminary approaches to the Company from two overseas groups which have expressed strong interest in securing oftake rights to the Block 3 East gallium.Nimy reported strong gallium assays from drilling conducted at Block 3 East in the previous quarters (see ASX releases dated April 18, 2024 and October 9, 2024).Gallium, which is used in several cutting-edge technologies, including powerful semi-conductor chips, is on the US critical minerals list.China has a near-monopoly on the supply of gallium and has slashed exports of the crucial metal following strict limitations imposed by the Chinese Government last year.Nimy Executive Chairman Luke Hampson said:“We know we have a high-grade gallium discovery which runs from surface in a tier-one location.Drilling has encountered high grade mineralisation over a 160m strike length and it remains open. We have also intersected high-grade gallium in two drill holes 220m to the west.Soil sampling indicates significant potential to keep growing the size of the discovery.Given the strong interest from potential partner groups, we intend to establish a JORC Resource, which will help underpin these discussions”
[/table][/table]
NIM Price at posting:
12.5¢ Sentiment: Buy Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
