IMA Exploration Inc. WKN 884 971 CA4496641016 IMR

Phase IV Drilling Update for IMA's Navidad
Wednesday April 5, 1:45 pm ET

VANCOUVER, BRITISH COLUMBIA--(MARKET WIRE)--Apr 5, 2006 -- IMA Exploration Inc. (Vancouver:IMR.V - News)(AMEX:IMR - News)(FWB:IMT)(Berlin:IMT.BE - News)(WKN 884971) is pleased to announce results from 35 diamond drill holes at its Navidad Silver Project in Patagonia, Argentina, from the Phase IV drilling programs that commenced in January of 2006. Phase IV drilling to date has focused on further defining the Calcite NW and Calcite Hill deposits, as well as testing of several geological/geophysical targets away from the main mineralized trends.

Highlights of the drilling at Calcite NW include hole NV06-262 with 25.2 metres (m) averaging 146 grams/tonne (g/t) silver including a higher-grade section of 8.54m averaging 385 g/t silver, as well as NV06-264, which contained 28.4m averaging 127 g/t silver including 6.85m of 455 g/t silver (Table 1). At Calcite Hill hole NV06-272, on the northern limit of the known resource boundary, returned 9.86m averaging 401 g/t silver. The zone remains open towards the north at shallow depths.

full story: http://biz.yahoo.com/iw/060405/0121623.html

...bitte die Fachleute von hier zu beurteilen

linar

klasse gebiet - keine frage navidad ist ein erstklassiger fund.

die frage ist wem gehört navidad, derzeit noch ima aber so wird es meiner meinung nach nicht bleiben

wenn selbst dines rät in aqi umzuschichten (wenn auch nicht awg. navidad). dines hat einen ausgezeichneten ruf. sollte aqi unterliegen würde der kurs regelrecht verdroschen werden

ein jim dines würde doch so ein risiko nie eingehen.

aqi wird nicht leer ausgehen und der kurs wird explodieren.

Bin etwas enttäuscht - Niemand scheint hier die nachrichten auf Englisch zu lesen.

FRR hat eine konklusive, wie er meint Chronologie verfasst, die heute dort erschienen ist.
Nochmals leicht redigiert:

A Shareholder’s Opinion

IMA Exploration Inc.

Having followed IMA’s progress over years I’m experiencing some kind of deja vu in the opportunistic and frivolous court action Aquiline Resources has mounted against IMA. This action was holding up severely the potential and deserved price appreciation for IMA’s shareholders as warranted by the outstanding success of exploring their Silver/Lead deposits on the Navidad property, located in Argentina’s Chubut Province in Patagonia.

IMA’s management, never the less showed their acumen and wasn’t fazed at all by the court case and just kept on working to expand and develop this bonanza grade deposit. A project, though still in an early stage of exploration has already proven to be of world class dimensions, but may lastly have a potential of way over a billion ounce silver deposit – not even crediting the lead.

As a long term shareholder I’ve had the opportunity to meet the management several times over the years and came to the conclusion that listing the facts in some chronological order from my notes taken by these meetings. I do hope that I may be able to clear up some mis-conceptions surrounding the recent issues.

Introduction

Having met the President and CEO, Joe Grosso even before he ventured to Argentina as one of the first Canadian Juniors in order to explore mining possibilites in a country, which has just opened up to foreign capital investment in the resource sector, I became very interested.

In the early 1990’s Joe Grosso spent long months every year in the country and delineated a vast acreage of potential resource properties. At that stage he was amongst others working together with a senior geologist, Vincente Mendez, who was a former director of Argentina’s GS (equivalent to the USGS). A portfolio of very promising exploration projects were acquired at that time and some were farmed out or joint ventured to blue ribbon names in the industry since.

Chubut Province


• IMA has been active in Chubut Province in Argentina since 1995, reviewing and prioritizing targets. In early 2002, IMA’s project geologist was working in north central Chubut on targets that IMA had identified over the preceding several years.
• Newmont Mining Corporation and IMA have had and continue to have an excellent working relationship in South America since 1995, during which time IMA kept Newmont’s South American exploration team current on its properties and strategies in various locations of Peru and Argentina. Newmont reviewed numerous properties and signed confidentiality agreements with IMA indicating a long term relation which continues uninterrupted to this day.

• In 2002 Newmont made a strategic decision to abandon exploration and development work in Argentina and to focus its South American efforts on Peru. In keeping with that strategy, Newmont decided to sell one of the projects that it acquired from Normandy. This 73,000 ha property, which straddles Chubut and Rio Negro provinces in Argentina, is called Calcatreu. IMA had an exploration crew working nearby in the north-central region of Chubut and was invited, by Newmont, to consider buying Calcatreu.
• Newmont prepared an information package for potential bidders and had them sign a standard industry Confidentiality Agreement about information relating to the Calcatreu project, which included the normal two-kilometre – no staking restriction around the property.
• Newmont’s CA did not cover any nearby regional targets that were of interest to IMA in its ongoing Chubut exploration program that was in progress prior to signing the CA review of Calcatreu.
• Before offering Calcatreu for sale, Newmont and its predecessor Normandy had done some generative work gathering regional stream sediment samples from which it prepared data covering approximately 1 million ha extending more than 100 km away from Calcatreu’s restricted parameters. The area covered by this generative work overlapped several areas that were of interest to IMA.
• Newmont’s regional generative data included information on what is now called the Navidad property, which had never been staked as a mineral claim. The data showed very high silver potential at Navidad. After making follow up visits to investigate these high silver anomalies, Newmont/Normandy left Navidad and the whole area outside Calcatreu unstaked. Staking the entire Navidad property would have cost approximately $0.30/ha or less than $3,000.
• In its due diligence evaluation of the Calcatreu gold property IMA sent a team of experts to review the Calcatreu project.
• During a visit to Newmont’s field office, the team noticed a map on the wall that displayed regional stream sediment data collected from areas far outside the 2 km buffer zone around Calcatreu. That data did not relate to Calcatreu, it covered a different metallogenic trend, it was not useful for the evaluation of the Calcatreu project, it was not specified in the confidentiality agreement and it was not included in the information-bid package received from Newmont. Because this map covered areas of interest where IMA was active in its ongoing exploration program and because of the long relationship and cooperation between the two companies, IMA’s team asked if they could have the data for its own use.
• Before the local Newmont representative gave the data to IMA he got authorization from his superior at Newmont. He was directed to give the data to IMA because Newmont had interest in a project of IMA’s in Peru. Newmont did not impose any restrictions on its use.
• After ascertaining that the grades and economics of the project was not a fit for IMA to proceed with the bid, the company gave Newmont written notice that it would not be pursuing the Calcatreu project and offered to return all Calcatreu data Newmont had given it. Newmont acknowledged with regret that IMA would not be bidding on the project, and did not ask for any data to be returned.

• IMA resumed its ongoing regional exploration program that had been interrupted by the review of the Calcatreu project. Based on the non-Calcatreu data that Newmont had given to IMA and IMA’s pre-existing knowledge of the area accumulated through several years of scouting and exploration, IMA staked the property that has now become known as the Navidad silver project. IMA proceeded to conduct a sample/mapping exploration of the area, encountering excellent values, which were subsequently announced after receiving the official mining office notification.
• IMA was not able to publicly announce the Navidad claim and initial results until the Mining Department officially accepted and confirmed IMA’s staking of the 10,000 ha Navidad concession.
• Between IMA’s filing of the Navidad claim and the approval by the Department of Mines of the staking, Newmont and Aquiline made a deal that resulted in Aquiline’s acquisition of the Calcatreu gold property announced January 28,.2003.
• Upon receiving confirmation of the “Navidad” property staking from the Department of Mines Jan. 31.03, IMA proceeded to announce the Navidad Silver discovery, located 83.5 km away from Calcatreu on Feb. 2. 2003.
• While IMA and it’s exploration team continued their program of exploration, staking and announcing the results of their findings, as delineated prior to the Calcatreu review, obviously Aquiline continued it’s due diligence on Calcatreu by sending a geologist to Argentina by May 7. 2003. Their due diligence involved visiting the same office where IMA’s team had become aware of the map information on the office wall. Aquline, then and there learned of IMA’s discovery and this obviously precipitated to the change of the Calcatreu property acquisition to a share purchase agreement for tax reasons, as they’ve told NEM at the time. Gaining control of the Argentinian company that owned Calcatreu and all information and data base may in hindsight be constructed as quite opposite to the “tax reasons” cited.
• Aquiline informed Newmont of their intention to change the property acquisition to a share purchase agreement which closed on July 10. 2003.
• Aquiline chose to serve notice to IMA during a publicly known “bought financial deal”, with the obvious intent to place IMA’s management in an awkward position to accept the financing. Upon disclosure of Aquilines letter and the threat of legal action the financing collapsed placing IMA in a taxing position, which has taken 2 ½ years, an extensive time and a great deal of money to defend.
• To this date, Newmont, the original owners of the data and the company that provided it to IMA, has never complained about IMA’s use of the data. In fact, IMA and its affiliates continue to have excellent business relations with Newmont. Only Aquiline has made an issue of these events, and it has profited handsomely as a result with an increase in its stock price not based on any value but on an opportunistic lawsuit of no value.
• AQI hired a Lac Corona lawyer who served the initial letter of their claim to IMA. The lawyer was not involved in the court case and even stated that this case was in no way a Lac Corona precedence. IMA has never heard from this laywer again, neither before nor during the court case.
• A Lac Corona case study PDF was widely circulated on the internet stating that this case is similar to Lac Corona – as far as I’ve heard even the court dismissed this notion as not having any relevance to the case. This was the most unashamed propaganda I’ve ever met with.

My notes on the above facts were all derived from direct discussions with the management of IMA, while I had not the least interest to contact the management of Aquiline. This was finally taken on by a reporter from the German reknowned “Handelsblatt” as he was in Vancouver late last year and was interested in the story. Alas, the journalist never received any return calls from AQI.

In recent discussions with the management of IMA I found them very positively inclined towards the result of the pending judgement. I’ve asked if a B.C. court decision would be honoured in Argentina where hispanic law is prevalent and should the worst case scenario unfold that the Navidad property be awarded to Aquiline, would they enjoy the popularity in Chubut which would allow to take the property to development? It seems to be well known that Aquiline has not met with support from the communities surrounding their Calcatreu property.

The Hearing

Oct. And Nov. 2006 the hearings in this case took place at the supreme court of B.C. in Vancouver. The costs to IMA for a frivolous court case are adding up to about 2.5 million $, which could have spent in exploration and development.

In the final analysis of the court hearings it seems to me that not one of the initial claims or charges were brought before the court, nor ever disputed. The last link – let me call it straw – was derived from IMA’s on site geologist, not a lawyer, who stated at his personal hearing that he is not current on the legal procedures and ramifications on a CA based understanding. He therefor felt uncomfortable with the whole issue and answered as honestly as an on site geologist would answer - I’m a geologist not a lawyer.

And that seems to be the “last straw” the whole case was built upon. As I’m not a lawyer either, I can only say –“please give me a break!”.

Conclusion

It’s May now and the frustrated shareholders are still waiting for a resolution on the case. Meanwhile an unsigned 16 page “analyst report” was floated on the internet a few months ago by AQI’s management and directors. It stated that the report was originating from a major shareholder, Frank Lucas of Aaron Loeb, London. Not only did Frank Lucas not write the report nor was he ever an AQI shareholder. This is the exact opposite of what AQI’s management has inferred.

Finally on the 1. May AQI’s stock went limit up. The stunned public was led to believe that AQI has had won part or all of the court case. As it turned out they only had a line or two on an uranium property in their portfolio which was recommended in Jim Dines’ TDL.

Some guys take advantage at every corner and others are quietly awaiting the judicial outcome of a court case thrown at them by opportunistic and promotional operators and still do not lose reality of their achievement.

It may at some stage become interesting to launch a class action at these kind of perpetrators over lost opportunity cost. Seems to me Henderson would deserve such proceedings considering his litigatious past.

FRR

...

Denke - dass dies der Realität entspricht! ... wie Ping Pong und TT -

Eine Chronologie der Ereignisse ist unter "Nachrichten in Englisch" auf goldseiten zu finden.

Finde es bedauernswert dass dies niemand liest.
Nun man kann auch sagen - schreibe Deutsch - doch dass war nicht die
Absicht, die hiezu führte.

Hab erst jetzt gemerkt, dass dies schon hier eingelangt war.

Frr...ich hoffe du hast Recht und IMA wird ein Star, anscheinend sind wir so beschaeftigt und warten in erster Linie auf den Rechtsspruch der ueberfaellig ist.

Cheers

Eldo

naja da ist ja wohl eine menge wunschdenken dabei

und die behauptung das lotkas äusserungen der letzte strohhalm ist an den sich aqi klammert ist mehr als peinlich

war die ganze angelgenheit nicht ein glasklarer fall?

allein schon die dauer bis die entscheidung fällt würde mich stutzig machen. hier geht es darum ein erstklassigens gebiet (oder zumindestens teile davon) an ein unternehmen (minera sprich aqi) zu übertragen, dessen vertrauen aufs übelste missbraucht worden ist.

schöner report, zweifellos, weil man nur das liest was man als ima aktionär gerne lesen möchte.

kommt mal wieder auf den boden der realität zurück!

Du sagst es - AQI hat Anspruch auf Calcatreu und sonst gar nichts!

das werden wir ja noch sehen, irgendwann wenn die ehrenwerte frau richterin endlich ihr urteil spricht

im übrigen ist dein report zwr angenehm zu lesen, aber er basiert eben nur auf deiner meinung, mehr nicht. wunschdenken halt.

und du verlässt dich zu sehr auf das was dir vom ima management gesagt wurde. kein wunder da du grosso so verteidigst, du scheinst ihn sehr zu mögen.

ich kann dir aber dutzende beispiele nennen, wo ceo´s ihre aktien empfohlen haben und großartige sachen versprochen haben - und nichts von dem eingetreten ist.

was soll grosso denn sonst sagen ausser das er sehr zuversichtlich ist usw.?

wie bereits gesagt ich kann dir dutzende beispiele nennen von ehemaligen "größen" des neuen marktes bis hin zu dem meiner meinung nach grassesten beispiel adelong (wer die geschichte nicht kennt sollte sich mal schlau machen. wer nicht drauf reingefallen ist hat gut lachen).

ima wird für den begangenen leichtsinn und den verstoss gegen das ca teuer bezahlen müssen! sei es materiell in form von einer enteignung oder finanziell.

darauf wird es rauslaufen!

aqi hat die besseren karten auch wenn die meisten hier anderer meinung sind.

an dieser stelle verzichte ich darauf, den chart von beiden aktien hineinzustellen.

...@ TT

Wir wissen es schon,deiner ist am groessten.

ima wird ja auch immer billiger - unter 1,50 euro leg ich mir auch mal ein paar ins depot. sollte ima wider erwarten doch nicht ganz leer ausgehen könnte es sich durchaus lohnen
obwohl mein bauch mir sagt: die dauer bis zur urteilsverkündung spricht eher gegen ima. die richterin macht nägel mit köpfen und überträgt entweder die südamerikanische tochter von ima an minera oder stellt navidad unter treuhandverwaltungen und die beute wird gerecht zerlegt und sowas gravierendes braucht eben seine zeit.
lassen wir uns überraschen viel glück allen investierten

@TT

Seih mir nicht boese, an solchen Tagen kann jeder bloed daher reden.

IMA IS A BUY !!

Ich dachte du bist ein AQI Soldier ?
Springst wohl auch schon vom Glauben ab wie manch andere hier.

Bist Dir wohl auch nicht mehr sicher ?

We all have to wait for ""Judgement Day"" !!

But for now......ansonsten packt dich gleich wieder Frrrrrrrrr

XEX

sicherlich ich bin ein aqi soldier. hat sich ja gelohnt und ich bin trotz der warnungen und flaschen informationen hier stets aqi treu geblieben.
auch wenn ich mich zwischenzeitlich von einem teil meiner aktien getrennt hatte.
ima werde ich mir wirklich nur zum zocken ins depot legen - wenn der preis stimmt. die derzeitige bewertung von ima ist angesichts des risikos viel, viel zu hoch. es geht um alles oder nichts, ima hat ausser navidad nichts zu bieten.
minera fordert alles und sollte dem stattgegeben werden dann ist ima nix mehr wert. da geh ich doch lieber ins casino.

TT, gerade weil es hier um alles oder nichts geht bei dem Projekt bin ich voll dabei als Cowbow.

Mein Pferd ist aber die IMA !

Da habe ich genauso viel drauf wie bei der SSRI, nebenbei bemerkt.

Ich verliere Z.Zt nur -5%.

Wenn die aber gewinnen YEAH !... falls sie verlieren dann nichts wie weg !

Lets see ... and wait !

Pfirty TT

XEX

Mein Pferd ist aber die IMA !

hättes mal lieber auf den anderen gaul gesetzt

ich fühl mich pudelwohl mit meinem pferdchen, das rennt und rennt und rennt.

eldorado, ich gerade nochmal diesen thread überflogen. und bin zu dem schluss gekommen, dass ich recht hatte mit aqi.
mach dir mal den spass wenn du zeit hast.

ima und grosso haben scih meiner meinung nach verzockt.
leider bezahlen die ima aktionäre die zeche für das fehlverhalten der ima offiziellen.

But for now......ansonsten packt dich gleich wieder Frrrrrrrrr

lass ihn ruhig. ich denke dass, wenn er objektiv ist, einige seiner aussagen revidieren muss.
so "frivolous" wie er meint ist die ganze angelgenheit ja nicht.
das sehe ich so, das sieht der markt so und das sehen auch mehr und mehr analysten (oder die sich solche halten) so.

hier wurde gegen gewissen spielregeln verstossen und deshalb steht man vor gericht.
ein unschluldslamm gibt es nicht - auch wenn der ein oder andere es gerne so hätte.

und wenn man sich nicht an die spielregeln hält wird man bestraft.

rote karte für ima!!!!!!!!!!!!!!!!!!!!!!!!!!!!

The Company considers that it has adequate resources to maintain its ongoing operations for the balance of the year but currently may not have sufficient working capital to fund all of its future exploration and development work. The Company will continue to rely on successfully completing additional equity financing to further exploration and development of Navidad. There can be no assurance that the Company will be successful in obtaining the required financing. The failure to obtain such financing could result in the loss of or substantial dilution of its interest in its properties.

auweia, das hört sich nicht gut an. angenommen der prozess geht verloren, wer will denen dann noch einen cent nachschiessen? und ein gebiet verkaufen das ihnen nicht gehört geht ja auch schlecht.
wenn ima noch genügend geld für die revision aufbringt dann reicht es aber mit sicherheit nicht mehr um die exploration voranzutreiben.
die verwässerung ist schon hart.
mich wunderts das cannacord noch geld in den laden gepumpt hat, obwohl man nicht weiss wie die story ausgeht.
die derzeitige marktkapitalisierung von 120.000.000 us$ ist ein witz und erinnert an die internet-blase vom frühjahr 2000.
aber der kurs wird ja derzeit mächtig gestutzt.
so zwischen 1,20 und 1,50 euro kann man spekulativ kaufen, als zock.

ein investment sieht jedenfalls anders aus.

ima war totes kapital in den letzten jahren und wird es wohl auch dank eines langen rechtstreits in den kommenden jahren bleiben!

from Stockhouse post:

SUBJECT: RE: Yes it should be any day now!!! Posted By: andeeh
Post Time: 5/24/2006 06:59
« Previous Message Next Message »

I hear that some cartographers are getting involved and will sue the winner of this case. Rumour has it that IMA used a map of the world to find Argentina. AQI themselves have admitted that they wouldn't have found Argentina without a map.
This is a dangerous precedent for all mining operations. If a geologist uses a map to stake something, then logically they wouldn't have been able to find the stake area without the map and so the people that made the map own the area.

A Newmont mining official has confirmed that when they draw up any of their maps, they are always stamped with the insignia "we found this and everything on this is ours forever, it's our ball and you're not playing". This important piece of legalese has weighted heavily on the judge's mind. Traditionally, a "no stake clause" means that you cannot stake within a given area, but given the Newmont protocol the judge has been deciding wether or not Newmont actually sold the whole Argentina to Aquiline Resources. The president of Argentina was unavailable for comment, saying only "Henderson is a meddling ****" (in spanish).

There could be a slew of cases on the back of this. Rumour has it that only the direct blood descendents of Christoper Columbus are entitled to Navidad. Once this info hits The Street there's going to be turmoil in the resource markets.

Spot on!

naja ein wenig die tatsachen verdreht - lustig ist es schon auch wenn es jeder grundlage entbehrt.

die ima propaganda, pardon pr abteilung hat nicht weniger humor wie die folgende news release beweist:

http://biz.yahoo.com/iw/060530/0131979.html

wenigstens lassen die mittlerweile den spruch "from its 100% owned project.." usw weg.

wahrscheinlich hat man es jetzt auch bei ima eingesehen das spätestens in ein paar wochen ein grossteil oder alles von navidad futsch ist.

hab gerade in einem anderen thread gelesen das selbst der user tschonko sich von seinen ima aktien getrennt hat.

ich glaube mittlerweile dass der user frr der einzige aktionär von ima ausserhalb kanadas ist

das urteil müsste jetzt bald kommen. es ist noch nicht zu spät auf die richtige seite zu wechseln.

ima hat wirklich einen blöden fehler gemacht und wird dafür wohl oder übel bezahlen. es tut mir nur leid dass es die aktionäre sich die für die fehler anderer bestraft werden.

bald ist die sache rum, mal sehen wie dann die meinungen über das ima management sind.

ps: wieso haben mitglieder der ima führungsetage eigentlich nach prozessende massenhaft anteile verkauft?
weil aqi so chancenlos ist

wird allerhöchste zeit das die richterin ihr machtwort spricht und den ein oder anderen träumer auf den boden der tatsachen zurückholt!