Rimfire Pacific Mining (RIM) H1 2025 earnings summary

Executive summary

• Reported a net loss of $1,584,248 for the half-year ended 31 December 2024, compared to a loss of $691,476 in the prior corresponding period, mainly due to increased professional fees from legal matters related to terminated earn-in agreements.

• No dividends were paid or recommended for the period.

• Principal activities focused on exploration and development of critical mineral deposits, especially scandium, cobalt, and copper in New South Wales.

Financial highlights

• Revenue from continuing operations was $7,227, down from $21,191 in the prior period.

• Total expenses increased significantly, with professional costs rising to $956,216 from $189,459 year-over-year.

• Cash and cash equivalents at 31 December 2024 were $631,094, up from $187,666 at 30 June 2024.

• Net cash outflows from operating activities were $966,978; net cash outflows from investing activities were $947,803; net cash inflows from financing activities were $2,358,209.

• Basic and diluted loss per share was (0.07) cents, compared to (0.03) cents in the prior period.

Outlook and guidance

• Directors believe the group will continue as a going concern, supported by recent and planned capital raisings and the ability to defer or reduce expenditures if necessary.

• Focus remains on advancing scandium projects at Fifield and Avondale, with additional exploration at Rabbit Trap and Broken Hill.