You will recall I posted a note saying "the problem is bigger than Rimfire Pacific". Please read it. This debacle has the potential to bring the industry into disrepute in my opinion. So things are of significant interest to both shareholders and non-shareholders.
As you pointed out, bob and iron man have been posting negative remarks for some time. It did not affect the share price at all - indeed it has surged. However, what if bob and ironman were correct and as a result of the current mess RIM collapses in price or the company even fails ? In this event, the only way you'd get money back is via action against the directors.
This is why their posts would help shareholders be protected - because there is a public record of the potential issues ahead of time.
Talk of failure might seem outrageous, however in the June quarter RIM burnt $700k with no drilling I can see. This quarter there is drilling at broken hill and there has been a resource estimation on top - both require funds. If only $700k was burnt in this period it would be surprising - and that would leave Rim with $1.45m - 0.7m = $0.75m at the end of the month. The reality is likely to be lower - $500k?
What can RIM say about the earn-ins that would allow them to raise money? It might take weeks or months to sort things out with the directors of GPR. Will GPR pay anything in the meantime? What if GPR sue RIM for damages? What if the investors who funded Giovinazzo sue RIM? Things are very problematic unfortunately.
This mess is all on the RIM directors - not ironman or bob.
Lets hope all the negative views expressed are simply wrong and misguided, but if they aren't, the debate will assist your position as a shareholder at that time.
RIM Price at posting:
7.9¢ Sentiment: None Disclosure: Not Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)