Rimfire Pacific resolves legal dispute with Golden Plains Resources
Key points
- Rimfire Pacific Mining agreed to pay $350,000 to Golden Plains Resources to settle a legal dispute.
- Shares were unchanged at $0.007 following the market announcement.
- The deal clears legal uncertainty to let the company focus on its New South Wales scandium projects.
Rimfire Pacific Mining (ASX:RIM) has executed a settlement agreement with Golden Plains Resources to end a dispute over a previous business contract.
The disagreement related to $385,000 in payments made during 2022 and 2023 under the Fifield heads of agreement.
"Resolving this dispute allows Rimfire and GPR to focus on advancing exploration at the Fifield and Avondale JV’s," said Rimfire Pacific Mining Executive Chair Bronwyn Barnes.
Under the confidential terms, Rimfire will pay $350,000, and both parties will dismiss their Supreme Court of Victoria proceedings.
The company stated that the resolution allows it to progress exploration work across its scandium projects in New South Wales.
Following the announcement, the Rimfire Pacific Mining share price was unchanged at $0.007.
The Explorer operates joint venture projects at Fifield and Avondale alongside its wholly owned Rabbit Trap and Bogan River assets.
Rimfire is currently finalising work programmes and budgets to unlock the critical mineral potential of its regional exploration portfolio.
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