Rimfire Pacific Mining (ASX: RIM) has secured firm commitments totaling AU$3.25 million to fund exploration activities for scandium, cobalt, and copper. A significant portion, AU$1.15 million, will be raised through a share placement at AU$0.01 per share, supported by three family offices and existing shareholders. These funds will drive exploration efforts for Rimfire's 100% owned cobalt and copper projects in New South Wales, alongside general working capital and the investigation of complementary acquisition opportunities.
Furthermore, a joint venture partner, Golden Plains Resources, has committed an additional AU$2.1 million for advancing scandium exploration assets at the Fifield and Avondale Projects in NSW throughout the first half of 2024. Rimfire's Managing Director, Mr. David Hutton, expressed gratitude for ongoing shareholder support and welcomed investments from new family offices, positioning the company for rapid advancement in critical minerals exploration.
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