RIM.ASX: Executive Chair Appointment and $2.3M Capital Raising

Executive Chair Appointment and $2.3M Capital Raising

Stock	Rimfire Pacific Mining Ltd (RIM.ASX)
Release Time	7 Aug 2026, 9:28 a.m.
Price Sensitive	Yes

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Rimfire Pacific Mining Announces Executive Chair and Capital Raising

Key Points

Bronwyn Barnes appointed as Executive Chair to lead the Company's growth
$2.3M capital raising received at 0.8c per share
Placement demonstrates strong alignment with shareholders

Full Summary

Rimfire Pacific Mining Ltd (ASX: RIM) has announced a significant leadership change and capital raising to support its scandium development strategy. Bronwyn Barnes has been appointed as Executive Chair, effective September 1, 2026. Ian McCubbing will transition to a Non-Executive Director role, and David Hutton will become Technical Director. The company has secured commitments for a $2.3M capital raising at 0.8c per share, with strong participation from directors and management. The funds will support drilling programs, technical studies, and general working capital. The appointment and capital raising reflect the board's confidence in Rimfire's strategic direction and its potential to become a leading Australian scandium developer.

Guidance

Rimfire Pacific Mining Ltd plans to use the $2.3M raised for scandium exploration and development.

Outlook

Rimfire aims to capitalize on the growing demand for scandium in various industries, including advanced manufacturing, defense, aerospace, and clean energy.