My initial thoughts were "guilty as charged"
Still time to buy some AQI?
IMA Exploration Inc: Frivolous Lawsuit Slows Canadian Company's Development of World Class Silver Discovery
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14 February 2005, 2:24pm ET
VANCOUVER, British Columbia--(BUSINESS WIRE)--Feb. 14, 2005--IMA Exploration Inc. (TSX VENTURE:IMR)(OTCBB:IMXPF)(FWB:IMT)(BERLIN:IMT) announces that the Company has offered $100,000 - "nuisance value" - to Aquiline Resources Inc. to settle their ongoing lawsuit. "We have offered Aquiline a nuisance value sum to put this nonsense behind us," explained Mr. Grosso, President and CEO. "We have to get back to running our company and focus our energies on the development of Navidad, our extraordinary silver discovery in Argentina."
IMA announced the discovery of its 100% owned Navidad silver project in Patagonia, Argentina, in March 2003. To date, IMA has defined an Indicated Resource of 268 million ounces of silver and 1.1 million tonnes of lead (50 g/t cut off, 80.8 M tonnes at 103 g/t silver and 1.45% lead), quickly making it one of the world's largest and purest silver deposits. In a suit filed in British Columbia in March 2004, Aquiline alleged IMA used confidential information to acquire Navidad.
"There is absolutely nothing to the claim," Mr. Grosso said. "If this ever gets to court, we are confident it will be thrown out. But we have a responsibility to our shareholders and we must focus on making the potential of Navidad a reality, not on legal fees to fight opportunistic lawsuits."
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IMXPF 3.14 0.06dollars or (1.94%)
IMA is well financed to continue to test the numerous exploration targets at Navidad with significant drill programs. The Company has over 10 years experience in Argentina and is dedicated to the exploration and development of socially, economically and environmentally responsible mining opportunities.
