UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER
THE SECURITIES EXCHANGE ACT OF 1934
For the month of JUNE, 2007.
Commission File Number: 001-32558
IMA EXPLORATION INC.
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(Translation of registrant's name into English)
#709 - 837 West Hastings Street, Vancouver, British Columbia, V6C 3N6, Canada
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(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual reports
under cover of Form 20-F or Form 40-F: FORM 20-F [X] FORM 40-F [ ]
Indicate by check mark if the registrant is submitting the Form 6-K in paper as
permitted by Regulation S-T Rule 101(b)(1): _______
Indicate by check mark if the registrant is submitting the Form 6-K in paper as
permitted by Regulation S-T Rule 101(b)(7): _______
Indicate by check mark whether the registrant by furnishing the information
contained in this Form, is also thereby furnishing the information to the
Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
YES [ ] NO [X]
If "Yes" is marked, indicate below the file number assigned to the registrant in
connection with Rule 12g3- 2(b): 82-_____________
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf of the
undersigned, thereunto duly authorized.
IMA EXPLORATION INC.
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Date: June 12, 2007 /s/ Joseph Grosso
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Joseph Grosso,
President & CEO
IMA EXPLORATION INC.
(A Grosso Group Company)
Suite 709 - 837 West Hastings Street,
Terminal City Club Tower,
Vancouver, B.C. V6C 3N6
Tel: 604-687-1828 Fax: 604-687-1858 Toll Free: 800-901-0058
Internet: www.imaexploration.com E-mail: info@imaexploration.com
TSX Venture Exchange: IMR American Stock Exchange: IMR
Frankfurt & Berlin Exchanges: IMT (WKN 884971)
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NEWS RELEASE - JUNE 12, 2007
LETTER TO SHAREHOLDERS
Dear Shareholders,
The recent judgment by the British Columbia Court of Appeal dismissing IMA's
appeal on the Navidad project was an extreme disappointment and the company is
continuing to assess its next steps regarding the Navidad dispute. Going forward
from today, the clear focus of management will be to rapidly build a large,
significant and diverse property portfolio capable of maximizing shareholder
value.
To rebuild the company's asset base, IMA will be using its substantial cash
reserves, which include a treasury of $7,500,000 plus the $18,500,000 the
company has spent to date developing the Navidad Project that will be returned
to IMA if the appeal is ultimately unsuccessful. As of today, post appeal the
company would have $26,000,000, or almost $0.50 per share to grow its asset base
and focus on the business of creating value through exploration. Management has
a history of successful exploration and it is now time to begin the process anew
for the benefit of all IMA shareholders.
We have been active in Argentina since 1993, in fact IMA was one of the first
foreign mineral explorers in Argentina. Over time management has established an
impressive network of contacts in the resource sector that extends throughout
Argentina, Peru, Chile and Colombia. As seasoned explorers, it was our team that
discovered Navidad and it was also our team that discovered the Gualcamayo gold
deposit, which Yamana is planning to put into production in 2008. This same team
is now seeking a range of exciting new exploration opportunities and we are
confident that we can build a diverse and valuable property portfolio.
I would like to take this opportunity to thank IMA's shareholders, management
and directors for their strong support and for staying the course while we move
the company forward with future promising projects. We have the people, capital
and network required to make IMA a strong and successful company we can all be
proud of.
ON BEHALF OF THE BOARD
/s/ Joseph Grosso
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Mr. Joseph Grosso, President & CEO
For further information please contact Joseph Grosso, President & CEO, or Sean
Hurd, Vice President, Investor Relations, at 1-800-901-0058 or 604-687-1828, or
fax 604-687-1858, or by email info@imaexploration.com, or visit the Company's
web site at http://www.imaexploration.com.
The TSX Venture Exchange has not reviewed and does not accept responsibility for
the adequacy or the accuracy of this release. CAUTIONARY NOTE TO US INVESTORS:
This news release may contain information about adjacent properties on which we
have no right to explore or mine. We advise U.S. investors that the SEC's mining
guidelines strictly prohibit information of this type in documents filed with
the SEC. U.S. investors are cautioned that mineral deposits on adjacent
properties are not indicative of mineral deposits on our properties. This news
release may contain forward-looking statements including but not limited to
comments regarding the timing and content of upcoming work programs, geological
interpretations, receipt of property titles, potential mineral recovery
processes, etc. Forward-looking statements address future events and conditions
and therefore involve inherent risks and uncertainties. Actual results may
differ materially from those currently anticipated in such statements.