Elusive former Queensland Nickel director Clive Mensink has reportedly been found by a journalist in Bulgaria, but his uncle Clive Palmer says he doesn't recognise him.

News Corp published photos and video of the man who bears a resemblance to Mr Mensink leaving a cinema with his girlfriend in the capital Sofia.

It reported the former director has lost up to half his body weight and was spotted leaving the movie Fifty Shades Freed.

His uncle Mr Palmer said he isn't convinced it is his nephew.

"I don't believe he's that trim and I don't think it looks like him, it's obviously been done by Photoshop," he said.

"When I last saw my nephew he looked nothing like that.

"It's a beat-up."

Despite insisting he didn't believe it was Mr Mensink, Mr Palmer was complimentary of the woman pictured in the photos.

"He's not on the run. By the looks of the young lady he was with, if it's really true, she was a very attractive young woman

"I wouldn't be coming back to Australia too soon either.

"Good on him. He's single, he's free. He's got no responsibilities. Why shouldn't he have a good time in Europe?"

Mr Mensink, pictured in 2013. ( AAP Image/Supplied by Crook Group )

Mr Mensink has been overseas since June 2016 and has failed to appear and give evidence at a Federal Court hearing into the collapse of Queensland Nickel, which cost about 800 workers their jobs.

Two warrants were issued for his arrest.

When he sought to appeal the warrants last year, the court ordered him to pay a $70,000 security due to a risk he would not comply with any costs awarded against him.

Mr Palmer said he has not spoken to his nephew and does not know where he is.

Asked if he is in Bulgaria, Mr Palmer said: "Not to my knowledge."

Mr Palmer said Mr Mensink had no need to return to Australia because the arrest warrants were being appealed and they did not stand up in international law.

"Mr Mensink has no legal obligation to be here in Australia under international law. This is a civil matter," he said.

Deputy Premier Jackie Trad said many people in Townsville are still feeling the effects of the company's collapse.

"It's important that those who are responsible come back to Australia and answer questions," Ms Trad said.

"It is a kick in the guts for those people and their families who are still trying to find work and an income to live on, to see people who are responsible for QNI's collapse overseas enjoying themselves."

The Australian Federal Police has released a statement today urging anyone who knows of Mr Mensink's whereabouts to contact Crime Stoppers.