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 FEBRUARY, 2008.
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: February 12, 2008 /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 - FEBRUARY 12, 2008
IMA'S TREASURY NOW AT CDN $25,000,000
IMA EXPLORATION INC. (IMR-AMEX, IMR-TSX.V) ("IMA" or the "Company") confirms
that as per the interim project development agreement with Aquiline Resources,
IMA has received the restitution of the balance of CDN $18,500,000. These funds
represent the mutually agreed amount that IMA expended to develop the Navidad
project to the completion of pre-feasibility study. With the receipt of these
funds, IMA now has in excess of CDN $25,000,000 which equates to approximately
CDN $0.48 per share. IMA's share price closed at CDN $0.38 per share on February
11, 2008, trading at approximately a 20% discount to cash.
Senior management and the technical team are continuing with advanced stage
negotiations to secure projects that fit IMA's business model. The Company's
model is to acquire advanced stage exploration projects with drill indicated
resources that also contain untested mineralized extensions or new zones that
can provide additional exploration potential. IMA's significant treasury
combined with the Company's proven fund raising ability puts it in a strong
position to rapidly build its property portfolio, making IMA a compelling
investment consideration.
For over 15 years management has established an impressive network of contacts
in the resource sector that extends throughout North and South America. As
seasoned explorers, it was the Company's team that discovered Navidad and played
a major part in the discovery the Gualcamayo gold deposit, which Yamana is
planning to put into production in 2008. This team is now focused on seeking a
range of exciting new exploration properties and the Company is confident that
it can rapidly build shareholder value.
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. 2008 NUMBER 1