[Vision2020] Why there was not a county wide mineral extraction moratorium!

[David M. Budge]

Wayne,

Just out of curiosity, due to my being uninformed on the issue at hand,
what in this statement leads to "corruption"?

I'm just trying to understand the issues.

Dave Budge

Art Deco wrote:

> Why there was not a county wide mineral extraction moratorium!
>
> Can you spell corruption?
>
>
> Art Deco (Wayne A. Fox)
> deco at moscow.com <mailto:deco at moscow.com>
>
> <http://www.imineralsinc.com/> 		<http://www.imineralsinc.com/>
> 							
> <http://www.imineralsinc.com/> 	<http://www.imineralsinc.com/ir/> 
> <http://www.imineralsinc.com/ir/newsroom/> 	
> 	<http://www.imineralsinc.com/president.html> 	 
> <http://www.imineralsinc.com/#clay> 	
>
> 	
> 2004 President's Message
>
>     In 2004 we built upon our accomplishments of 2003 to leave
>     i-minerals inc. poised to take the Helmer-Bovill
>     Feldspar-Quartz-Kaolin project to the next stage in the
>     development process - feasibility.
>
>     In October 2003, coincident with the closing of a private
>     placement, the Company received TSX Venture Exchange approval of
>     our property agreement with Idaho Industrial Minerals ("IIM"). 
>     Securing Exchange approval of the agreement was an important
>     milestone for the Company as the filing had been ongoing since 2001.
>
>     In December 2003, the State of Idaho approved the Mineral Lease
>     applications and issued the Company Mineral Leases.  The
>     combination of Exchange approval and the State of Idaho granting
>     of Mineral Leases has created legally binding, regulatory approved
>     property rights that resulted in a solid land tenure for the
>     Company in the Helmer-Bovill property.
>
>     In January 2004, we completed the name change process approved by
>     the shareholders as part of the October 2003 Annual and Special
>     Meeting of the shareholders.  While this may seem insignificant on
>     surface, it is an important development for our marketing
>     initiatives.  Like all industrial minerals companies, we must
>     identify and approach prospective customers and convince them of
>     the Company's service, the product's quality and the
>     transportation advantages we offer.  We believe the "i-minerals"
>     name reflects the Company's business practices and can be readily
>     branded making it easier for our marketing staff to approach and
>     engage the major corporations we seek as customers.
>
>     Coincident with seeking Exchange approval of the property
>     agreement, our geological staff, led by Dr. James G. Clark and A.
>     Lamar Long began geological modeling to define the factors that
>     controlled the mineralization at Helmer-Bovill.  This entailed
>     countless hours of field mapping and re-logging of drill cores
>     from previous drill programs and detailed petrographic analysis of
>     samples from rock formations throughout the property.  Based upon
>     this thorough work, we built a geological model that explained the
>     zonation of the minerals of economic interest and offered
>     predictive capabilities as to where we might locate greater
>     concentrations of sodium feldspar vs. potassium feldspar and where
>     we might expect to locate additional kaolin mineralization.
>
>     To confirm our belief in the viability of the minerals of economic
>     interest, we undertook a preliminary market survey in an attempt
>     to gauge the market interest for our mineral products from
>     prospective customers within the geographic areas that offered the
>     customer transportation advantages.  The response was very
>     encouraging and directed our focus towards developing a mixed
>     feldspar product.
>
>     Driven by this market research, we elected to test our geological
>     model by attempting to identify a mixed feldspar deposit.  In the
>     fall of 2003 we embarked on a drill program.  This program proved
>     to be a success as it validated the geological model and defined
>     an inferred resource.  As the pages that follow discuss in more
>     detail, this drill program defined a substantive inferred resource
>     that is sufficient to support many years of production at the
>     envisioned production rate.  The grantitic complex that hosts the
>     resource has tonnage potential many times that identified within
>     the inferred resource.
>
>     In March 2004, we attended a State of Idaho sponsored Export Forum
>     where we had the opportunity to meet trade delegates from a number
>     of Asian and Latin American countries.  The meeting provided a
>     level of confidence that there is substantial interest in our
>     feldspar products in a number of these markets and our location
>     near the port of Lewiston offers us direct access to these markets
>     and a transportation advantage.
>
>     In June 2004, we created a composite sample of drill core from
>     holes that comprise the inferred resource.  This large sample has
>     been sent to a highly respected laboratory to be processed into
>     feldspar and quartz samples and products for delivery to
>     prospective customers for their internal testing purposes.  Based
>     upon initial analytical results, we are confident the product
>     samples will meet or exceed the customer's requirements.
>
>     2004 was a very productive year for i-minerals. The Company has
>     grown well beyond its beginnings.  While we have made significant
>     strides in securing land tenure, establishing geological controls,
>     defining inferred resource tonnages, producing product samples and
>     developing customer interest, there remains much more work to
>     complete.  Our objective for the next 12 months is to drive the
>     project through feasibility.  Key parts of this process will be
>     upgrading the inferred resource to a reserve, basic engineering
>     and completing additional testing on the quartz and kaolin
>     products that can be produced from Helmer-Bovill.
>
>     We know from the petrographic work and analytical work completed
>     to date, that the quartz associated with the Helmer-Bovill
>     deposits is very low in iron and other mineral contaminants.  The
>     petrographic work indicated that the limited iron detected was
>     superficial as opposed to included within the quartz allowing for
>     the potential of much simpler treatment and removal.  A high
>     purity quartz product could offer the Company and the project
>     significant "blue sky" potential as high purity quartz products
>     can command prices in excess of $1,000 per ton as opposed to less
>     than $50 per ton for more basic applications.  Production of even
>     a limited amount of high purity quartz could have a pronounced
>     impact on the project economics.
>
>     Additional work needs to be completed on the kaolin mineralization
>     as well.  In the coming months we intend to complete preliminary
>     kaolin characterization to determine what products might be
>     produced and undertake marketing studies to evaluate what
>     opportunities might exist for the Company given the kaolin
>     products we can produce.
>
>     All of us at i-minerals look forward to the coming months with
>     great anticipation as we work to unlock the vast potential of the
>     Helmer-Bovill project.  On behalf of all of us at i-minerals, I
>     would like to thank all our shareholders for their continued
>     support as we continue to build the Company on a sound foundation
>     of scientific results and engineered success.
>
>     Roger Kauffman
>     President & CEO
>
>------------------------------------------------------------------------
>
>_____________________________________________________
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