Rimfire Pacific Mining NL (ASX:RIM) directors have demonstrated their faith in the company’s gold and copper strategy by participating in a share purchase plan (SPP).
The company’s fully underwritten SPP closed on Wednesday, October 21, providing eligible shareholders with the opportunity to subscribe for up to $30,000 of new shares.
Rimfire received applications totalling $162,500 from eligible shareholders with the SPP raising $500,000 as it was fully underwritten to that amount by Trans Global Capital Ltd.
These funds enable Rimfire to continue to execute its strategy aimed at discovering a large-scale copper-gold or gold ore body within its exploration licences in the Lachlan Transfer Zone of central NSW.
Director purchases
Non-executive chairman Ian McCubbing acquired 2.4 million shares worth $30,000 increasing the total number of securities held to more than 6.743 million shares in one indirect interest and in excess of 7.466 million shares in another.
Non-executive director Andrew Greville secured 1.6 million shares worth $20,000 in an indirect interest, increasing the number of securities held to 4.6 million shares.
Fellow non-executive director Andrew Knox purchased 400,000 shares in a direct interest and now holds almost 11.34 million shares in that interest with another 1.5 million in an indirect interest.