Business
IMA Exploration Inc. Letter from the President
IMA Exploration Inc. Letter from the President
About this update from Greenfirst Forest Products Inc
[{"type":"text","content":"\nIMA Exploration Inc. Letter from the President\n\n\n Aug. 24, 2009 (TheNewswire.ca) -- Dear Shareholders,On behalf of IMA's Management and the Board of Directors, and as the driving force behind the merger, I am delighted to enthusiastically endorse the proposed combination of IMA Exploration Inc. (AMEX:IMR) (TSXV:IMR''A) (TSXV:IMR') (TSXV:IMR) , Kobex Resources Ltd. (TSXV:KBX) and International Barytex Resources Ltd. The acquisition of these companies by IMA is about coming together to pursue and acquire world-class mining projects and create value for the combined shareholders.IMA's Management and Board believe that the merged company's future focus needs to be on development of advanced mining projects which can achieve, in short order, a bankable feasibility and production cash flow. Our shareholders will inherently benefit from these acquisitions as it will create a company with financial staying power. IMA's Management and Board are excited about combining the three companies and putting in place an accomplished management team and board of directors who will have substantial cash to make exciting project acquisitions and the expertise to take projects into production (see news release dated July 16, 2009).Dr. Roman Shklanka, who will lead the new company, is a member of the Mining Hall of Fame. He has extensive experience in the acquisition, development and the selling of projects for higher multiples. His previous world‑class financial successes include the acquisition and development of the Bulyanhulu gold deposit in Tanzania which was purchased by Barrick Gold (NYSE:ABX) (TSX:ABX) for $550 million and the Onca Puma Nickel Project in Brazil purchased by CVRD for $950 million.We at IMA wish to convey our enthusiasm to the shareholders in the creation of the combined entity as a premier mining company which will have:a management team with decades of mining exploration, evaluation, production and deal making accomplishments,$44 million in cash, sufficient for the company's new focus, to attract the highest caliber projects with the potential to reach multi‑billion dollar value when fully developed,the credibility needed to source new projects and the ability to raise the needed funds for development,the ability to become a major player in the industry,an opportune economy for acquisition of mining properti...