RIM

7.41%

5.0¢ rimfire pacific mining limited

Directors are likely in major trouble here and this will not be good for shareholders, page-6

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Ironman50

94 Posts.

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11/09/24

07:52

Post #: 75619194
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Originally posted by brzbny: ↑

Arekski,

Its irrelevant whether obvious or not, the duty of care goes beyond obvious for a director. Fraud and accepting funds if they were obtained by fraud is something very serious - criminally so - no shareholder or director wants to ever see a company in a position where these questions can be even considered. Yet this is where Rimfire finds itself.

Forewarned is forewarned, no matter by who. It tends to make it difficult to say "how could I know?" on the stand.

Multi billion scandium? Did you look at Scandium international - just up the road from RIM - listed - 43-101 reserve at over 400ppm - much higher than RIM - plus full feasibility study. Market cap $5.5m CAD. No one cares - no one is banging their door down.

Aluminium is presently $2.30 per kg. Scandium $8000/kg. Adding 0.5% Scandium to aluminium will add $40/kg to the price (nearly 20x). Even at $1500/kg, 0.5% Scandium will add $7.5/kg the best (ie 4x for scandium aluminium) to the price of aluminium. Even at 0.1% Scandium (the lowest addition level) and a Scandium price of $1500/kg it adds $1.50 to the price of the final product (+65%).

Scandium-aluminium alloys are a niche, price sensitive market. If Rio builds platina the market will be flooded. The results of flooded markets were seen in cobalt during the laterite boom - prices collapsed.

Rim actually has gold resources which could be profitable despite their modest size. It also has platinum potential. Shareholders and the Rim directors had little patience for either.

The scandium looks to be just hype and marketing to me. Time will tell but in the meantime shareholders have much more serious things to worry about -things you keep telling them to ignore.

No one can short RIM, so those with negative views probably do have an axe to grind somewhere - or perhaps they actually want to see shareholders protected? Either way the truth will come out as it did a few days ago. The situation is likely to get a lot worse sadly.

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With RIM you have a board involved in very dubious transactions involving millions of dollars and SC drilling results which are not even commercial. If you wish to keep spruiking the price up to sell blue sky and line your pockets, then I say it is a free country and you can do what you want, but I and brzbny and givebobajob and others who appear to know the facts will continue to present them. For the record I do not have any idea who these two contributors are.

RIM Price at posting: 7.9¢ Sentiment: Sell Disclosure: Not Held
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Last 5.0¢		Change -0.004(7.41%)		Mkt cap ! $117.7M

Open	High	Low	Value	Volume
5.4¢	5.9¢	5.0¢	$487.9K	9.060M

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Price($)	Vol.	No.
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