I have skim read this lengthy court determination between Billis and Giovinazzo (GPR) etc, what a waste of my time... IMO this is nothing but a couple of old business mates having a big falling out RE -some questionable integrity/director dealings and money/share payments etc etc ect imo.... Not RIM imo, look at judges conclusion no mention of RIM...
I might add RIM are NOT plaintiffs, done nothing wrong from what I read imo and hardly mentioned in this report, only really about payments by GPR made to RIM... RIM needed funds, GPR and Billis accommodated simple as that and GPR increased their holdings as did Billis imo... All the other stuff about being mates, weddings, gifting a car, shares, money borrowed, directorships/partnerships etc etc etc has nothing to do with RIM imo.... Only mainly between these 2 and their messy fall out and demise of LT friendship imo.... That's my take, as a non-legal opinion of what I read/understood all this to be....
Bob says it's a massive financial fallout now for RIM... I see it much different and if GPR (Giovinazzo not a Director of GPR) stops payments we simply find another partner/JV etc...
Whilst we are continuing to drill/increase resources of SC/Cobalt and SP up, should be no problem sourcing funding elsewhere imo... My concern ST is our large 2 SHs arguing in court and maybe making a play for us into the future and if that happens SP will only go up... So, disagree with Bob's comments "The lucky SHs are those that sold last week". Seriously what a down ramping and total biased and incorrect comment made by Bob imo....
Can't see this impacted our investment guys, move on and back to drilling imo... Look at the Judges conclusion, not much there for 140 odd pages of yawn, imo....
RIM Price at posting:
7.9¢ Sentiment: Hold Disclosure: Held
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