Auditor risk qualification on “going concern” is not uncommon on exploration company accounts. This, of itself, is not necessarily an issue.
However, what is an issue, is a “plan” for ongoing funding. It’s almost a year since the last AGM, and no clear, transparent, sustainable plan is even close to being announced.
People keep pushing “Billis as the saviour”, what’s his plan, operationally that achieves outcomes for existing shareholders?” Outvoted 3:1 at previous EGMs suggests he’s seems clueless on basic commercial issues. Who is his technical expert he has in mind for Rimfire that is expert in central NSW? We have heard nothing on “how” Billis can achieve better outcomes.
This Board needs to “do something” or shareholders will suffer the consequences, with or without Billis.
Drip feed inadequate funding, hardly impacting project outcomes in field operations is no plan and not even sustainable (anomalous Scandium, seriously?)
A real partner is needed, and not Billis who just wants a discounted takeover by stealth.
Any ideas Board? Shareholders can just hear the sound of crickets!
RIM Price at posting:
0.7¢ Sentiment: None Disclosure: Held
