ARGENTINA – After a protracted ownership dispute, AQUILINE RESOURCES of Toronto has taken over operation of the Navidad silver mine in the Patagonia region. The Supreme Court of British Columbia ruled that the mine belongs to Aquiline rather than IMA EXPLORATION of Vancouver. (IMA has launched an appeal to be heard in April 2007.)
Pending outcome of the appeal, Aquiline is operating the property under the terms of an interim project development agreement. Should the appeal decision be granted in favour of Aquiline, it will reimburse IMA $18.5 million for costs incurred on the project. Neither company may attempt to acquire the other until the appeals process is concluded.
Navidad is a grassroots silver exploration project discovered by IMA geologists. That team is pictured at www.IMAExploration.com.