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RIMFIRE PACIFIC MINING LIMITED

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Rimfire Pacific Mining Limited Awards $185,000 Drilling Grant At Valley

01/11/2022 | 05:44pm EDT

Rimfire Pacific Mining Limited announced that under the competitive, peer reviewed New Frontiers Cooperative Drilling Grant program overseen by the Department of Regional NSW, Mining, Exploration and Geoscience group, the Company has been successful in securing a grant of $185,675 for the Valley project. The grant will be applied to a deep hole drilling program which the Company plans to finalise and undertake in the near term. The Valley porphyry copper /gold project is 3km north of the township of Trundle, central NSW. Previous drilling by the Company in 2021 included a diamond drill hole which supported the interpretation of Ordovician volcanics occurring at the Valley that regionally host other significant copper /gold porphyry style mineralisation systems within the Lachlan Fold Belt in central NSW The Valley is about 5km west of the Kincora Copper /RareX Mordialloc porphyry copper /gold target.


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Financials
Sales 2021 0,65 M 0,46 M 0,46 M
Net income 2021 -0,37 M -0,26 M -0,26 M
Net cash 2021 1,56 M 1,10 M 1,10 M
P/E ratio 2021 -43,7x
Yield 2021 -
Capitalization 14,4 M 10,2 M 10,2 M
EV / Sales 2020 204x
EV / Sales 2021 22,6x
Nbr of Employees -
Free-Float 69,9%
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Managers and Directors
Greg Keane Chief Financial Officer
Ian James McCubbing Non-Executive Chairman
David James Hutton Independent Non-Executive Director
Andrew Jamieson Greville Non-Executive Director
Andrew Melville Knox Non-Executive Director