Nautilus Minerals Announces Financial Results for Q1 2012
TORONTO, ONTARIO, May 07, 2012 (MARKETWIRE via COMTEX) -- Nautilus Minerals Inc.
(CA:NUS)(otcqx:NUSMF)(aim:NUS) (the "Company" or "Nautilus") announces the
release of its unaudited consolidated financial results for the first quarter
ended March 31, 2012 (the "Financial Statements") together with Management's
Discussion and Analysis.
First quarter 2012 highlights:
--Exploration Program commenced in the Bismarck Sea, PNG
--Technical Report update released March 23, 2012
--Solwara 1 Project development advances
--$129.5 million (equivalent) in cash and cash equivalents as at March 31,
2012
"Progress has continued throughout the first quarter of 2012 on works related to
the Solwara 1 Project Development. At quarter end the project was approximately
40% complete," said Nautilus CEO Stephen Rogers. "Considerable effort was also
spent during the first quarter on the negotiation of a landmark offtake agreement
which was announced on 23 April 2012 with Tongling Nonferrous Metals Group Co.
Ltd."
The Financial Statements and Management's Discussion and Analysis have been filed
on sedar.com and are also available on the Company's website
nautilusminerals.com.
About Nautilus Minerals Inc.
Nautilus is the first company to explore the ocean floor for polymetallic
seafloor massive sulphide deposits and is developing its first project at Solwara
1, in the territorial waters of Papua New Guinea, where it is aiming to produce
copper, gold and silver. The company has been granted all necessary environmental
and mining permits.
Nautilus also holds approximately 600,000 km2 of highly prospective exploration
acreage in the western Pacific; in PNG, the Solomon Islands, Fiji, Vanuatu and
Tonga, as well as in international waters in the eastern Pacific.
A Canadian registered company, Nautilus is listed on the TSX:NUS and AIM:NUS
stock exchanges and OTCQX:NUSMF. Its corporate office is in Brisbane, Australia.
Its major shareholders include Metalloinvest, the largest iron ore producer in
Europe and the CIS, which has a 21% holding, global mining group Anglo American,
which holds an 11% interest and MB Holdings, an Oman based group with interests
in mining, oil & gas, which holds a 9.98% interest.
Neither the TSX, London Stock Exchange, nor the OTCQX accepts responsibility for
the adequacy or accuracy of this press release.
Contacts:
Nautilus Minerals Inc. (Toronto)
Investor Relations
+1 (416) 551 1100
investor@nautilusminerals.com
nautilusminerals.com
Numis Securities Limited
Nominated adviser: Alastair Stratton/Stuart Skinner
+ 44(0) 20 7260 1000
Numis Securities Limited
Corporate broking: James Black
+ 44(0) 20 7260 1000
Dahlman Rose & Co., LLC
Christopher R. Weekes
1301 Avenue of the America's
New York, NY 10019
Direct: +1 212 372 5766
SOURCE: Nautilus Minerals Inc.
mailto:investor@nautilusminerals.com
nautilusminerals.com |
