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Highlights

  • Nico Resources raises $1.1 million via share placement at $0.08 per share, a premium to recent prices.

  • Funds to support Wingellina Project development and general working capital.

  • NC1 shares rally 30% to $0.095 following announcement.

Nico Resources Limited (ASX:NC1) has secured backing from institutional and sophisticated investors, announcing it has successfully raised $1.1 million through a share placement aimed at accelerating work on its flagship Wingellina Project in Western Australia.

The capital raise involves the issue of 13.75 million fully paid ordinary shares at a price of $0.08 per share, representing a 11.4% premium to Nico’s 20-day volume-weighted average price (VWAP), and a 9.6% premium to its last trading price on 29 May 2025.

Market Response

The announcement triggered a jump in Nico's share price, soaring 30% to $0.095 in early trade on 3 June 2025. 

Use of Funds: Wingellina Front and Centre

Proceeds from the placement will be directed toward the advancement of exploration and development activities at Nico’s Wingellina Project, one of Australia’s largest undeveloped nickel-cobalt-scandium laterite resources. A portion of the funds will also be used for general working capital, including costs related to the capital raise.

The Wingellina Project forms part of the broader Central Musgrave Project, which sits in a highly prospective region near the Western Australia–South Australia–Northern Territory border. The company aims to unlock value from this asset through continued technical studies, stakeholder engagement, and strategic partnerships.

Marketech Online Trading Pty Ltd acted as Lead Manager to the raise, earning a 5% fee on funds raised. 

Outlook

With funding now in hand, Nico is expected to ramp up its exploration program and progress further technical assessments for Wingellina—an asset seen as increasingly relevant amid growing global demand for critical minerals, particularly nickel and cobalt for electric vehicle batteries and energy storage technologies.

The premium pricing and positive share price reaction signal market alignment with Nico’s strategic direction, especially as Australia’s resource sector continues to pivot toward energy transition minerals.