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Rimfire Pacific Mining Limited ( (AU:RIM) ) has shared an announcement.
Rimfire Pacific Mining Limited announced that Altitude Minerals has exercised its option to acquire the Cowal Project for a total transaction value of $700,000, contingent on achieving certain milestones. This divestment allows Rimfire to concentrate on its core scandium exploration activities, with an air core drilling program set to commence at the Murga Exploration Target. The transaction ensures Rimfire retains a stake in any potential future gains from the Cowal Project through its shareholding in Altitude and milestone payments, thereby maintaining a strategic interest while focusing on expanding its scandium resource base.
More about Rimfire Pacific Mining Limited
Rimfire Pacific Mining Limited is a company operating in the mining industry, focusing primarily on scandium exploration. The company is actively engaged in developing scandium resources within the Fifield District in Australia, known as a significant scandium epicenter.
Average Trading Volume: 4,264,896
Technical Sentiment Signal: Sell
Current Market Cap: A$38.63M
Find detailed analytics on RIM stock on TipRanks’ Stock Analysis page.