RIM 3.33% 5.8¢ rimfire pacific mining limited

Ann: Suspension from Quotation, page-12

  1. 689 Posts.
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    All a little bit strange.......

    "At 30 June 2022, Rimfire had access to $0.60M of funding, with $0.27M held directly in Rimfire’s
    account and $0.33M held in the Earn-in accounts for funding activities on the Fifield and Avondale
    Earn In Projects.

    As announced 30 June 2022, Rimfire Pacific Mining (the “Company”) has executed a Binding
    Heads of Agreement
    with its exploration partner Golden Plains Resources Pty Ltd (GPR) to vary
    and simplify the terms of the current Fifield Project Earn-in.

    Under the terms of the Heads of Agreement, GPR will pay $2M cash (comprising $1.5M directly
    to Rimfire for its own use (“Rimfire Corporate Payment”) and $0.5M for additional expenditure
    under the earn-in “Additional Expenditure Payment”), which is in addition to remining exploration
    payments of $1.5M due under the current Fifield Earn In agreement.
    Upon receipt of all moneys ($3.5M in total), GPR will secure an additional 9.9% interest in the
    Fifield Project (60% in total) and Rimfire will waive the requirement under the current Earn In
    Agreement for GPR to provide funding to Rimfire for a development project.


    The Company will provide an update in relation to receipt of funds from GPR by the
    commencement of normal trading on Thursday, 4 August 2022."










 
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