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Last $0.20 USD
Change Today 0.00 / 0.00%
Volume 0.0
IMAHF On Other Exchanges
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OTC US
As of 8:10 PM 08/24/15 All times are local (Market data is delayed by at least 15 minutes).

i-minerals inc (IMAHF) Key Developments

I-Minerals Inc. expected to report Fiscal Year 2015 results on September 4, 2015. This event was calculated by Capital IQ (Created on August 29, 2015).

I-Minerals Inc. expected to report Fiscal Year 2015 results on September 4, 2015. This event was calculated by Capital IQ (Created on August 29, 2015).

I-Minerals Inc. Provides Update on Drilling Results

I-Minerals Inc. announced that it has received a report from an academic halloysite researcher that covers the results of comparative testing of I-Minerals' HalloPure halloysite with commercially available halloysite from NZ, China and Turkey as well as another development stage US halloysite. Scanning Electron Microscope ('SEM') work indicated that I-Minerals halloysite nanotubes ('HNTs') are much longer than any of the other HNTs tested. Most of I-Minerals HNTs measured had a length range of 1.1-2 m (75 %). 20 % of the tubes have length of 3-5 m. The remaining shorter HNTs were considered to be broken pieces off longer tubes. In comparison, the HNTs of the other development stage US producer measured only 0.5 ± 0.2 µm, but this halloysite did demonstrate a more uniform HNT size distribution. I- Minerals' much longer HNTs are believed better for stronger polymeric composites. The diameter of I- Minerals HNTs was twice that of the other US halloysite providing improved HNT loading capacity. A release study was also undertaken wherein I-Minerals' HalloPure HNTs and the other US producer's NHTs were loaded with different solutions and the release time measured. In the first test benzotriazole ('BTA') was loaded into both HNTs simultaneously at the same conditions. A release study in water was also performed simultaneously and the release was measured (260 nm) using a UV-Visible spectrophotometer. In a second test, Hydroxyquinoline ("HQ" an important antioxidant and anticorrosion inhibitor) was loaded into I-Minerals' HalloPure HNTs and the other US producer's HNTs simultaneously under the same conditions. A release study in water was also performed simultaneously and the release was measured (240 nm) using a UV-Vis spectrophotometer. Initial burst release was lower in case of I-Minerals' HalloPure HNTs (33 wt %) when compared to the other US producer's HNTs (43 %). The overall release profiles were similar and HQ release extended up to 3 hours in both cases. Zeta potential is a key indicator of the stability of colloidal suspensions. When the like charge on the outer surface of the tubes is high, such that the particles strongly repel, there is a low tendency to recombine, form aggregates and settle out. Untreated HNTs from I-Minerals were measured at -44±2 mV and when treated with Polystyrene sulfonate (PSS) the zeta potential was modified to -55 mV. Zeta potentials from 40 to 60 mV indicate good stability of colloidal dispersions and above 61 mV are considered excellent.

Mediation Resolves Hoodoo Resources and Brent Thomson Family Trust Complaint Against I-Minerals

I-Minerals Inc. announced that court-ordered mediation was held on May 28, 2015, in the lawsuit filed against the company by Hoodoo Resources, LLC, and the Brent Thomson Family Trust. The mediation sought to resolve the Plaintiffs' claims against the company, as well as the Company's claims against the Plaintiffs. The company announced that the mediation was successful and the Plaintiffs and the Company entered into an agreement in principle to settle the parties' claims against one another that was documented in a Binding Settlement Term Sheet. The terms of the settlement include 'the broadest release allowed by law' and require that all claims now existing, whether known or unknown, be dismissed with prejudice. The settlement also includes an acknowledgement by the Plaintiffs that 'I-Minerals is the sole owner of the' mineral Leases that are subject to the August 10, 2002 agreement, as amended, between the Company and IIM, and that the Company owns the mineral Leases 'free and clear of all claims of the parties' to the lawsuit. The agreement in principle is subject to Court approval, which the Company believes will be forthcoming in the next thirty (30) days.

I-Minerals Inc. Provides Update on Hoodoo Resources, LLC and Brent Thomson Family Trust Complaint

I-Minerals Inc. announced, further that the complaint filed against the company by Hoodoo Resources, LLC, and the Brent Thomson Family Trust (Plaintiffs) was voluntarily amended by the Plaintiffs on May 8, 2015. By this voluntary amendment, the Plaintiffs have withdrawn all claims of fraud and conspiracy against the company. The Plaintiffs have also dismissed with prejudice director Barry Girling from the lawsuit. The only causes of action remaining against the company are based upon an alleged breach of the August 10, 2002 agreement, as amended, between the company and IIM. I-Minerals also announced that it has filed a Counterclaim against the Plaintiffs seeking damages, in part, for tortious interference with contract and tortious interference with prospective economic advantage. The Counterclaim asserts that the company never breached the IIM Agreement and fully complied with its obligations under the IIM Agreement. The Counterclaim further asserts that the Plaintiffs violated the terms of the IIM Agreement by filing the lawsuit. Management of I-Minerals has steadfastly maintained that there is no merit to any of the allegations made by Plaintiffs, including the remaining claims for breach of contract. Plaintiffs' most recent withdrawal of numerous claims against the company supports and vindicates management's position. Management's position is also supported by a number of Court Orders and actions taken by the Plaintiffs that have steadily reduced and narrowed Plaintiffs' claims against the company. Plaintiffs initially filed a complaint in the United States District Court, District of Idaho, on March 4, 2014, that asserted ten separate causes of action against the Company and its former and current officers and directors based upon allegations of breach of the IIM Agreement, fraud, securities laws violations, and breach of fiduciary duties. Subsequent to I-Minerals filing a Motion to Dismiss, on June 6, 2014, the Plaintiffs voluntary dismissed the Federal lawsuit.

I-Minerals Inc. Announces the Feasibility Study of the Bovill Kaolin Project

I-Minerals Inc. announced that December 16, 2014 all contracts with respect to the feasibility study of the Bovill Kaolin Project (the "FS") have been awarded. Firms participating in the FS include: GBM Engineers LLC, HDR Engineering, Tetra Tech Inc., Mine Development Associates and SRK Consulting.GBM is reviewing the flow sheet designed as part of the June 2014 Prefeasibility Study to determine if process changes can improve the product mix and product quality. The final steps of the bulk sample processing at Ginn Mineral Technology (GMT) in Sandersville, Georgia, which include the preparation of a metakaolin product, brightness studies, and the final drying of the halloysite, are nearing completion. At the Minerals Research Laboratory in Asheville, North Carolina, the quartz/K-spar sand screened from the primary clay by GMT is being dried in preparation for bench scale testing to confirm the parameters for the full pilot plant which is expected to start operation around the first week of February.

 

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