Former mining magnate Nathan Tinkler has picked up a job as an advisor to nickel explorer Rumble Resources as he steps up his return to the resources sector.
Mr Tinkler, who has been selling his assets to repay massive debts, will be paid in performance-based share options, potentially giving him a stake in the junior explorer.
Rumble Resources shares rose 2.2 cents, or 40 per cent, to 7.7 cents on the news.
Singapore-based Mr Tinkler is trying to slash his debts after losing the bulk of his fortune during the recent resources downturn.
The 38-year-old former billionaire said there was significant value to be built at Rumble's operations in the Fraser Range in Western Australia.
"This could well be a world-class nickel province in the making," he said in a statement on Monday.
Junior nickel miners are betting the price of the stainless steel ingredient has reached the bottom after hitting a six-year low earlier this month.
Rumble Resources recently raised $1.68 million by issuing 37.5 million ordinary shares at 4.5 cents each.
Chief executive Shane Sikora said Mr Tinkler had been searching for assets around the world and that his connections and high profile would help the fledgling WA company.
"His track record of creating significant shareholder value in both private and public companies, in addition to his experience in large-scale financial raisings, will be of great benefit to Rumble shareholders," Mr Sikora said.
It is unclear how big Mr Tinkler's stake in the company will be if he exercises all of his options.
Rumble Resources is focused on two main projects in the Fraser Range, including the Zanthus Project, 20km from Sirius Resources' Nova-Bollinger discovery, and the Big Red Project, 450km east of Kalgoorlie.
Mr Tinkler's foray into nickel comes after he sold his Patinack Farm horseracing operations in 2014 to a group of overseas and local buyers, in a deal believed to be worth between around $100 million and $130 million.
The move also comes after Mr Tinkler paid $150 million for a mothballed Queensland coal mine in May last year.
Earlier this year, he sold four Gold Coast properties to help pay back $22 million owed to retailer Gerry Norman.
However, he appears likely to hold on to his Newcastle Jets A-league team which he has been trying to sell after buying it for $5 million in 2010.
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