Paul VanEeden IMA Exploration Inc. IMR-X BUY Oct 01, 2004

Reporting spectacular results in Argentina. There is a dispute over the property with Aquiline Resources, so own this stock as well. Undervalued.

A world class silver discovery. Have problems with a lawsuit by Aquiline and the pro environmentalists in Argentinia because cyanide has been banned in the state they are in.

Made big silver discovery in the Patagonia region of Argentina. 12 months exploration has revealed upwards to about 300 million ounces in silver. Open pit deposit with very low stripping ratio. Have a lot more exploration to do. Potentially could be one of the largest silver projects in the world. Law suit pending challenging ownership of the claims, but doesn't take it too seriuosly, although the market has discounted based on this.

A huge silver play in Argentina. Treat this Top Pick as a package deal with both Aquiline (AQI-X) and IMA Exploration (IMR-X). There is a litigation going on over the property. This has put a depressed value on the property. Feels Aquiline has the better case, so would overweight it. Likes silver.

Lost their court case to Aquiline (AQI-T) but immediately appealed. Not sure that they will win. Wouldn't bet on this.