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Enter Symbol
or Name
USA
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Nautilus Minerals Inc
Symbol NUS
Shares Issued 690,009,176
Close 2017-08-11 C$ 0.225
Market Cap C$ 155,252,065
Recent Sedar Documents

Nautilus Minerals files Q2 financials, talks highlights

2017-08-14 09:35 ET - News Release

Mr. Mike Johnston reports

NAUTILUS MINERALS ANNOUNCES FINANCIAL RESULTS FOR Q2 2017

Nautilus Minerals Inc. has released its unaudited consolidated financial statements for the second quarter ended June 30, 2017, together with management discussion and analysis.

Q2 2017 significant events:

  • Received $6-million (U.S.) through the $20-million (U.S.) bridge financing facility provided by the company's two largest shareholders during Q2 2017;
  • Commenced submerged trials following arrival of the sea floor production tools in Papua New Guinea at the end of Q1 2017;
  • Advanced the integration of the launch and recovery system and ancillary equipment onto the production support vessel at the Mawei shipyard in China;
  • $14-million (U.S.) in cash and cash equivalents as at June 30, 2017.

Mike Johnston, Nautilus's chief executive officer, commented: "Q2 2017 has been an important period for the company. We have made significant progress on the submerged trials in Papua New Guinea, continued with the vessel build and, importantly, the integration of our equipment onto the vessel, all backed by the continued support of our major shareholders through the bridge finance facility. Subject to further financing, we remain on schedule to develop the world's first commercial high-grade sea floor copper-gold mine at the Solwara 1 project site in Q1 2019."

The unaudited financial statements and management discussion and analysis will be filed on SEDAR and will also be available on the company's website.

About Nautilus Minerals Inc.

Nautilus is the first company to explore the ocean floor for polymetallic sea floor massive sulphide deposits. Nautilus was granted the first mining lease for such deposits at the prospect known as Solwara 1, in the territorial waters of Papua New Guinea, where it is aiming to produce copper, gold and silver. The company has also been granted its environmental permit for this site.

Nautilus also holds highly prospective exploration acreage in the Western Pacific (granted and under application) as well as in international waters in the Central Pacific.

We seek Safe Harbor.

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