The Arbitration hearing is just three weeks away. It is not...

The Arbitration hearing is just three weeks away. It is not surprising that the board has called for a Shareholder's meeting just as the hearing finishes and before any decision is made by the Arbitrator. Seems to be a rush for shareholders to approve a bunch of free options to the directors before any bad news. Look at the record of the current board. $10 million down the drain in exploration expenditure over 4 years and nothing of commercial value has been found.

No doubt the conduct between this board and convicted fraudster, Michael Giovinazzo over the last 5 years will now come under close scrutiny at a judicial level during this forthcoming Arbitration hearing. All will now be revealed to the shareholders in the coming months. No wonder the Shareholder's meeting is being held before the Arbitration decision and its accompanying findings are to be released for all of us to see what really went on during those years.

The impact of the dealing between the current board and Giovinazzo is only starting to be felt and no doubt will fester into further expensive legal claims made by GPR against Rimfire and others.

I note that the legal costs for the current Arbitration, which is estimated by legal experts to be in excess of $1.0 mill for each party, will take a big chunk of the $3.2 mill sitting in the Rimfire bank account. If Rimfire loses then there is another million will be out the door to cover GPR's costs.
And then there is the ongoing drilling and exploration costs!

What ongoing drilling? Good question. No more easy earn-in payments eh! The "gravy train" is over!