The extract below is repeated rhetoric from the BoardAll exploration activities at the Fifield and Avondale are funded by Rimfire’s exploration partner - Golden Plains Resources (GPR), the ownership of which is currently subject to a legal dispute. Rimfire has taken independent legal advice as to its obligations and rights with respect to this matter and continues to operate in accordance with that advice.
Billis has put the Board on notice that his interests are the controlling mind and will of GPR. I am no lawyer but if Billis is successful in this litigation would he be able to claw back all monies paid by GPR to RIM? Is this something akin to 'receiving stolen goods'? RIM does not have sufficient cash reserves if this is the case. A wind-up notice from Billis would be devastating.
This court case is only 3 weeks away. Billis has a reputation as a street fighter who never gives up if he has been wronged.
Let's hope that the Board has sound advice. The Board must keep its shareholders fully informed.
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