Overview
Nimble Resources is transforming mineral extraction and ore concentration using mobile technology that’s environmentally friendly and super-efficient. With its technology in the prototype phase, the start-up is working with Orica Digital Solutions on a BHP project to complete the rigorous testing required to commercialise its ground-breaking innovation.
A breath of fresh air for mining
Nimble Resources set out to create a more efficient, environmentally friendly and flexible way to mine for precious metals. The start-up resurrected a forgotten technology called rotary air concentration (RAC). The founders developed an entirely air-based dry process for concentrating ores and minerals to make mining viable even for the smallest, most remote ore deposits where water is scarce. Once proof of concept was established, the founders identified an opportunity to apply their technology to different ores and other types of mineral recovery, including critical minerals.
Bridging the cash-flow gap
The start-up was selected to join the Think and Act Differently (TAD) challenge (powered by BHP) to further evaluate and develop RAC methodologies. But the TAD challenge created a cash-flow squeeze. The start-up relied on revenue from its commercial mining operations to fund its R&D. But after winning the challenge, the business had to commit all its resources to R&D and testing activities. So its usual source of capital dried up.
Then, Nimble Resources heard about Radium Capital from their R&D tax adviser.
Nimble Resources Managing Director Greg Dore says, “Radium Advances gave us the breathing space we needed to focus on completing more R&D and lab work faster so we could commit to the TAD partnership and timelines.”
Radium Advances enabled Nimble Resources to source funding quickly, focus on R&D and avoid the distraction of commercial mining operations.
For more information, visit the Nimble Resources website.
