Ann: Rimfire receives commitments of $3.25 million, page-2

I have a sceptic view of the outcome of the word "commitments". It can be used as a pacifier (i.e. a dummy for SHs that are treated as dummies).

Committed $1.15M from 3 x family offices @ $0/.01 -
This is fair value and appears to be a good deal as RIM verges on insolvency. The announcement fails to say when the funds will (in full) be received.

Committed $2.1M of exploration funding by JV Partner
The announcement fails to be more specific about this and sides-steps saying "Golden Plains Resources". GPR is subject to a Victorian Supreme Court action to oust the fraudster Giovinazzo who promotes himself as the controller of GPR. I think someone said this hearing will occur in the next 6 months. It is highly unlikely that any funds will flow from GPR until this is resolved.

Summary
When broken down, IMO, the announcement is really about a potential, purported, committed CR of $1.15M ($3.25M is unlikely) - to cover Director's salaries and overhead. With no advice on when, and from whom, funds will come.

2024 looks like a repeat of 2023. No exploration, no money and 'thin air' promises.


Does anyone want a side bet that come 14 June 2024 (six months), GPR has not stumped up $2.1M in funding?