The company closed 7.5% higher at A21.5c in its first session after raising $6.4 million in its initial public offering.

The stock peaked at 22.5c on volume of more than 5.2 million shares.

Nimy was seeking up to $7.5 million in the IPO, which was managed by Raven Corporate Management.

The company holds the district-scale Mons nickel project, comprising 1761sq.km of ground within the Forrestania Nickel Belt.

Executive director Luke Hampson has spent the past six years assembling the tenement package and is the company's largest shareholder 26.3% via wife Angela Hampson.

Despite the presence of ultramafic rock sequences, the project has had almost no exploration.

Western Mining Corporation first identified the project as a potential komatiite.

A maiden drilling campaign conducted this month confirmed substantive widths of nickel.

Nimy is planning a moving-loop electromagnetic survey as soon as it lists.

De Grey Mining chairman Simon Lill chairs Nimy, while mining engineer Christian Price is managing director.