Bad day for RIM. Billis was the only (last?) person in town who was prepared to put substantive capital and proven mining expertise into the business. It looks like RIM's future holds no forward steps - just continual 6 monthly $1M CRs to cover overheads, director's fees and further SH dilution. In the 2023 Annual Report Directors remunerations total $775K.
Add to this RIM's continued association with the convicted fraudster Michael James Giovinazzo (always an interesting Google read) and the GPR implosion, which is sub-judice in the Supreme Court of Victoria.
Billis is a WA rich lister who got there by knowing where his money is best invested. Looks like his savvy view is to sell.
@longsoup where does RIM find substantive $4M+ future funding? Even this is only just enough to get started.
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