I still support our MD, despite the terrible position he is in of trying to deflect and highlight our business during the webinar, sadly imo GPR are in control, NOT RIM... Unfortunately, my questions remain unanswered, as do the real issues we all face from ongoing litigation and growing legal fees bought on by our Boards terrible decision and the damaged caused to ALL SH's and SP... We all could be left with nothing... Our "BOARD HAVE TO GO"imo.....
Many SH's must surely be concerned with all this unacceptable and ongoing litigation, the financial costs, decimated SP and questioning WHY did the Board do this? "Put the company and ALL SH's investment at serious risk", of this unacceptable mess they have created imo... Unfortunately, as I see it, our "Board has become untenable", "100% responsible" and "must be held to account" and "must resign and or be replaced" asap imo...
I remain furious of what our Board has done and putting SH's investment at risk and sadly as a once passionate and proactive supportive SH of RIM, I no longer support the Board and want them gone, however still support our MD and our Technical/Exploration team, WHO MUST REMAIN imo....
Going forward we need a new Board as their positions are now untenable imo, due to their actions which ultimately has damaged RIM/SP and SH's imo..... This litigation fallout brought on by the Boards action imo (also not a fan of having a board solely made up of accountants/financial people) was a terribly decision imo and even gets WORSE looking at this "RECENT CR" with "SH's left now to fund their legal bill", NOT ACCEPTABLE imo...
Board imo, have to "fund their own legal bills NOT SH's", they have director's insurance so use it!!!!!
I stand by my previous comment, "the board cannot remain after litigation failed" and now with "potentially further legal damages to come and costings to be awarded against RIM in Sept", "our collapsing SP from 8.5c to 1.3c all due imo of Boards decision to terminate GPR"... "I do expect accountability; their positions are untenable and must resign or be removed imo"....
RIM created this mess imo and bought litigation to the company and SH's face a massive legal bill, which will grow imo as further litigation will continue, I would if I was GPR... Now "RIM needs SH's to fund their legal costs", disgraceful imo...
RIM "caused this mess" imo and look at this pathetic account of only contributing a petty $120k - 8 mil shares, (2 mil - $30k each) out of 233 mil shares, raising $3.5 Mil raised. Most raised goes directly to the legal bill they created and admin, disgraceful imo.....
RIM unacceptably heavily discounted the SP by this recent desperate CR, by almost 30%... I will be and encourage SH's to vote against this CR, the Board have to be held to account and pay legal bill themselves imo...
Again, our Board imo have to “FUND THEIR OWN LEGAL BILL" NOT SH's imo....
Let's break down this over generous 1.5c terrible CR of $3.5Mil, which dilutes the SOI by another 1/4 of Bil shares.... SH's now left to bail the board out imo from this unacceptable litigation financial mess, SP decimated again by another 35-45% hitting 1.3c and can easily hit sub 1c if further ligation continues imo..... How many more CR's will be required to fund further legal bills???? Board now has to go imo.....
$3.5 Mil raised - Board only contributes $120k, pathetic and demonstrates no accountability imo....
Legal Bill - $1.1 Mil
Admin $1.0 Mil
Total $2.1Mil - Legal and Admin, unacceptable imo!!!!
What's left????
Exploration wages/costs - $600k
Cash left for actual tenements/drills etc, a pathetic $800k, (22%) out of $3.5 Mil raised...
Currajong - $100k
Murga - $200k and $300k
Rabbit Trap - $100k
Sc Target Gen - $100k
SH's basically bailing out RIM Board's legal bills, of which they instigated imo and leaves bugger all cash to do any real work on our tenements.... What a disgraceful situation for all SH's and more legal bills for SH's surely to come imo, along with more CR's and further unacceptable dilution....
So GPR could easily end up with 2 of our biggest plays if they achieve their %'s and send company broke along their way with further litigation... GPR if still going to continue with litigation, then take your action against the Board personally, NOT SH's who had absolutely no input of this mess.... Hence why I call for a new Board ASAP, then GPR and our removed Board can fight in court all they like and David MD and team can do what they do best explore and drill imo.....
I now call for the Board to stand up, be accountable and must resign... If the Board don't resign, then I support a 3rd and final 249D spill, put an end of accountants imo running a mining company, we need urgent professional and proven mining directors, who importantly can work with our JV partners, NOT "ATTRACT LITIGATION" and then "EXPECT SH's TO FUND THEIR LEGAL BILLS" imo.....
That's my take off this unacceptable mess brought on by our Boards terrible and unacceptable decision....
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RIM
rimfire pacific mining limited
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I still support our MD, despite the terrible position he is in...
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Last
1.3¢ |
Change
0.000(0.00%) |
Mkt cap ! $35.42M |
Open | High | Low | Value | Volume |
1.2¢ | 1.3¢ | 1.2¢ | $16.58K | 1.369M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
3 | 440386 | 1.2¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
1.3¢ | 981520 | 4 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
3 | 440386 | 0.012 |
7 | 1705963 | 0.011 |
4 | 1401000 | 0.010 |
3 | 161112 | 0.009 |
3 | 946888 | 0.008 |
Price($) | Vol. | No. |
---|---|---|
0.013 | 981520 | 4 |
0.014 | 1577860 | 3 |
0.015 | 3950754 | 5 |
0.016 | 3150000 | 5 |
0.017 | 2793284 | 3 |
Last trade - 16.10pm 08/08/2025 (20 minute delay) ? |
RIM (ASX) Chart |