RIMFIRE PACIFIC MINING LIMITED Rimfire Pacific Mining Limited (ASX:RIM) executed a Tenement Purchase Agreement to acquire Porters Mount Project (EL8329) from Plutonic Limited for AUD 0.025 million on September 11, 2023. A 2% Net Smelter Royalty (NSR) remains payable to Sandfire Resources Limited in the event of any mineral production from the tenement. Upon completion of the transaction, Rimfire will compile and integrate all historic data for the Porters Mount Project into the Cowal Project database ahead of prioritising drill targets, undertaking stakeholder liaison and planning a drill program.
At the time of writing, Rimfire, Plutonic and Sandfire were completing all necessary legal documentation and the transaction is still subject to standard regulatory conditions such as Ministerial consent for the transfer of the tenement.
