I see from RIMs 11/3/25 announcement below that Arbitration...

I see from RIMs 11/3/25 announcement below that Arbitration commences (for a full 5 days) next week.



Since then RIM management have been totally silent on this matter.

I think that RIM need to provide an ASX market before Arbitration - Are negotiations underway to mediate an outcome? What are RIMs chances of success? Estimated legal costs? The list goes on...this will cost $M's of shareholder monies and the market needs to know that it is being well spent.

I don't know all of the ins-and-outs of this case but it appears as though RIM have been paid $M's (I have heard it is between $4-10M) from GPR and now seek to hold these funds and issue GPR with no equity under an earn in agreement. RIM seek to rely on some fine print about which parties were the true owners - the fraudster Giovinazzo or the enegmatic Billis. The Supreme Courts determined Billis parties 100% owned GPR.

Outwardly, RIM fail the pub test as one cannot take someones money and expect to give them nothing in return. I'm no lawyer but I would thing that the equitable outcome is that Billis parties have been wronged and the Arbitrator corrects this. Billis has a reputation of pursuing wrongdoers to the grave (literally). If the Arbitration goes against RIM it will become a litigious battlefield that RIM can not afford to compete in - legal costs, damages etc etc.

It follows that RIM is corrected as the minority JV partner with GPR in the Fifield and Avondale projects. The subsequent David and Goliath litigation may well lead to RIM going into Administration. GPR could then secure 100% of the projects.

For now the share price outlook is very bleak indeed. Billis parties are selling down (50M+ shares so far) and clawing back whatever they can. Wait for Arbitration outcomes before moving in on this stock. It is still a strong sell from Nosetradamus.