My first post but I read here a bit. Thanks for the compliment. I am only a small time investor but it helps reading here. My concerns with this JV are more about the associations and if ABA is involved. ABA Resources may have some mining tenements but does it have any mining experience? Not really unless you count a few who have come in and out the door over the years but it has never mined anything. I think the most it has done is bring in a team of geo's from overseas to sort through core samples and produce a new resource estimate. The controlling management are more involved in online gambling, I.T., beer making (?) and building. The Heurston Group seems to have done nothing in all its time and other companies associated with it in Europe similar. Look up Streamark and its subsidiaries. You find the same people and interestingly enough you find the number 3 shareholder of RIM as a director https://find-and-update.company-information.service.gov.uk/company/09911144/officers with the same people from ABA. Look up the history of directors for these companies (love the Companies House website) and you find interesting associations as former directors, many have been discussed on this forum. Look up the list of shareholders for Heurston Group and you will see some colourful names. All this is enough to make me dig further or be suspicious. I know people who have been burnt with mining stocks and something does not feel right about this JV.
I consider the appointment of the original MD for Golden Plains questionable and therefore the relationship GP has with RIM should be carefully considered particularly with GP were supposed to be buying in 60% of the project and has $3.5M to pay by October. The MD appears to have no experience, no money and worked as a receptionist part time. Where is the money coming from? Well maybe it is not now and we will have to wait until next week to find out.
RIM Price at posting:
1.1¢ Sentiment: None Disclosure: Not Held
