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Rimfire Pacific Mining secures $2.3M capital raising
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Rimfire Pacific Mining secures $2.3M capital raising

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  • Rimfire Pacific Mining appointed Bronwyn Barnes as executive chair and secured $2.3 million in placement commitments.
  • The placement shares were priced at $0.008 each, while company directors and management contributed $580,000 to the raising.
  • Proceeds will fund ongoing metallurgical studies, drilling programmes, and general working capital for scandium projects.

Rimfire Pacific Mining (ASX:RIM) has raised $2.3 million through a share placement to advance its Australian scandium projects.

The fresh funding comes as the explorer builds on its previous critical mineral work in New South Wales.

"The board is committed to delivering disciplined execution," said Rimfire Pacific Mining Executive Chair Bronwyn Barnes.

Company directors and management committed $580,000 to the placement, which issued new shares at $0.008.

Following the announcement, the Rimfire Pacific Mining share price was unchanged at $0.011.

The company stated that the capital will fund metallurgical studies and drilling programmes across its mineral tenements.

Former chairman Ian McCubbing and David Hutton will transition into non-executive and technical director roles, respectively.

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