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?
- Forums
- ASX - By Stock
- RIM
- Ann: Rimfire receives commitments of $3.25 million
Ann: Rimfire receives commitments of $3.25 million, page-2
-
-
- There are more pages in this discussion • 60 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add RIM (ASX) to my watchlist
(20min delay)
|
|||||
Last
3.1¢ |
Change
-0.001(3.13%) |
Mkt cap ! $69.70M |
Open | High | Low | Value | Volume |
3.1¢ | 3.1¢ | 3.0¢ | $55.53K | 1.849M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 13734 | 3.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
3.1¢ | 185060 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 13734 | 0.030 |
1 | 38200 | 0.026 |
1 | 150000 | 0.025 |
2 | 115369 | 0.024 |
2 | 280000 | 0.023 |
Price($) | Vol. | No. |
---|---|---|
0.031 | 185060 | 1 |
0.032 | 1521908 | 3 |
0.033 | 796600 | 4 |
0.034 | 295815 | 3 |
0.035 | 14900 | 1 |
Last trade - 16.10pm 20/06/2024 (20 minute delay) ? |
Featured News
RIM (ASX) Chart |
The Watchlist
MTL
MANTLE MINERALS LIMITED
Nick Poll, Executive Chairman
Nick Poll
Executive Chairman
Previous Video
Next Video
SPONSORED BY The Market Online