Rimfire Secures $3.5 million to Supercharge NSW Scandium Exploration

Highlights:

• $3.5 million capital raise to support Rimfire Pacific Mining Limited’s (ASX: RIM) scandium exploration across key NSW projects.
• New mineral resource estimates targeted for Currajong by September 2025 and Murga by Q1 2026.
• Funds strengthen Rimfire’s JV flexibility and exploration commitments with Golden Plains Resources.

Capital Injection to Accelerate Project Development

Rimfire Pacific Mining Limited (ASX: RIM) has received firm commitments to raise $3.5 million through a two-tranche equity placement. At the time of writing, the capital raise is set to issue approximately 233.3 million shares at $0.015 per share, representing a 29% discount to the 5-day VWAP and a 37.5% discount to the last closing price. The placement includes free attaching unlisted options—one for every share—with an exercise price of $0.03, expiring two years from the issue date. Director participation of $120,000 is subject to shareholder approval and included in Tranche 2. Ignite Equity Pty Ltd served as broker for the raise.

Strengthening Balance Sheet for Scandium Push

Funds will be used to expand Rimfire’s scandium resource base across Fifield, Avondale, and the Rabbit Trap Project in New South Wales. Specifically, Rimfire aims to deliver a mineral resource estimate for Currajong (Avondale) by September 2025, and for Murga (Fifield) by Q1 2026, while initiating drilling at Rabbit Trap during the same timeframe. This fresh capital also positions Rimfire to meet future obligations under earn-in agreements with exploration partner Golden Plains Resources (GPR)—especially if joint ventures are triggered, requiring proportional funding from Rimfire.

Positioned for Long-Term Growth

At the time of writing, Rimfire’s strengthened financial position ensures the company can advance its exploration agenda amid legal uncertainties and joint venture contingencies. Managing Director David Hutton expressed confidence in the company's renewed presence in the Fifield district, emphasizing a focused approach toward unlocking scandium’s critical mineral potential across the Lachlan Fold Belt.

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