Nimy Resources Ltd: Recent Developments and Financial Overview

Nimy Resources Limited, an exploration and mining services provider specializing in nickel and gold projects, has recently been in the news due to several significant developments. Based in Perth, Australia, and listed on the ASX All Markets, the company has been actively working on advancing its projects and managing its financial obligations.

Legal Proceedings

On July 27, 2025, Nimy Resources announced that it had been served with a Writ of Summons in the Supreme Court of Western Australia by Lind Global Fund II, LP, managed by New York-based Lind Partners. This legal action follows a previous agreement between the company and Lind Partners. The details of the dispute have not been disclosed, but the announcement indicates ongoing legal proceedings that could impact the company’s operations and financial health.

Quarterly Activities and Cashflow Report

In a separate announcement, Nimy Resources released its June 2025 Quarterly Report, highlighting significant progress at its Mons Project. The company completed Phase 2 and Phase 3 drilling, totaling 25 RC holes and 5,994 meters. Notably, eight RC hole assays have been reported, with a peak value of 1 meter at 462 grams per tonne of Ga₂O₃ in NRRC140 from 202 meters. This discovery is part of the company’s efforts to develop a JORC compliant Inferred Resource from its high-grade gallium exploration target.

Unquoted Securities Notifications

Earlier in the week, on July 25, 2025, Nimy Resources issued multiple notifications regarding unquoted securities. These announcements detailed the issuance and conversion of unlisted options and other equity securities. Specifically, the company confirmed the issuance of 5,000,000 NIMAP OPTIONS EXPIRING 30-JUN-2028 EX $0.10 and 10,454,545 NIMAP OPTIONS EXPIRING 30-JUN-2028 EX $0.10. These securities are part of the company’s strategy to manage its capital structure and provide incentives to its stakeholders.

Financial Overview

As of July 24, 2025, Nimy Resources’ share price closed at 0.091 AUD, reflecting a significant decline from its 52-week high of 0.185 AUD on January 22, 2025, and a recovery from its 52-week low of 0.042 AUD on March 11, 2025. The company’s market capitalization stands at 21,160,000 AUD. However, the price-to-earnings ratio remains negative at -12.66, indicating that the company is not currently profitable.

Conclusion

Nimy Resources Ltd is navigating a complex landscape of legal challenges and strategic developments. The company’s focus on advancing its gallium discovery at the Mons Project and managing its financial instruments through unquoted securities issuance reflects its efforts to stabilize and grow its operations. Investors and stakeholders will be closely monitoring the outcomes of the legal proceedings and the progress of the company’s exploration activities.