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Media Kit
Recent Updates
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26-Aug-10 -
Nautilus Issues Options (more...)
10-Aug-10 -
Nautilus Minerals Announces Financial Results for Q2 2010 (more...)
03-Aug-10 -
Nautilus Minerals Conference Attendance Update (Second Half 2010) (more...)
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| | January 03, 2008
Nautilus Closes 2007 with Three Major Press Releases and US$312 Million in Cash
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News Release Number 2008-01
Vancouver B.C., January 3, 2008 - Nautilus Minerals Inc. (TSX & AIM: NUS) (the "Company" or "Nautilus") advises that it closed the year with US$312 (C$312, £158)* million cash in the bank, which with 145 million shares on issue, equates to cash backing of US$2.15 (C$2.15, £1.09)* per share
Also for investor disclosure during the holiday season, the Company's reiterates the three key press releases from the week of December 17, 2007, being the announcements of the:
- Seafloor Mining Tool (SMT) Contract
- Resource Statement
- Teck Cominco Warrant Exercise
Seafloor Mining Tool (SMT) Contract
Soil Machine Dynamics Ltd ("SMD") of Newcastle upon Tyne, UK, was awarded a £33 million contract for the design and build of two deep sea mining machines. Refer to the announcement of December 18, 2007.
(http://www.nautilusminerals.com/s/Media-NewsReleases.asp?ReportID=277920)
Resource Statement
The world's first NI 43-101 compliant resource estimate for a seafloor massive sulphide ("SMS") system was completed by Golder Associates Pty Ltd., ("Golder") for the Company's Solwara 1 deposit, located in the territorial waters of Papua New Guinea ("PNG"). Refer to the announcement of December 20, 2007.
(http://www.nautilusminerals.com/s/Media-NewsReleases.asp?ReportID=278419)
Teck Cominco Warrant Exercise
Teck Cominco Limited ("Teck Cominco") has agreed to exercise, six months early, its share purchase warrants to acquire 3,000,000 additional common shares of the Company at a price of US$5.00 (C$5.00, £2.53)* per share for a total of US$15 (C$15, £7.6)* million, taking Teck Cominco's shareholding to approximately 7.2% of the issued shares of the Company. The exercise of these warrants brings to US$52 (C$52, £26)* million the funds committed by Teck Cominco.
The transaction increases Nautilus's cash in bank to US$312 (C$312, £158)* million as of December 31, 2007. With 145 million shares on issue, this equates to cash backing of US$2.15 (C$2.15, £1.09)* per share. Refer to the announcement of December 20, 2007.
(http://www.nautilusminerals.com/s/Media-NewsReleases.asp?ReportID=278422)
A webcast of the December 20, 2007 investor conference call is available on the Company's website [regarding the Seafloor Mining Tool (SMT) Contract and the Resource Statement].
(http://phx.corporate-ir.net/phoenix.zhtml?p=irol-eventDetails&c=120113&eventID=1722370)
*Exchange rates used herein: C$1.00 equal to US$1.00 and £0.507.
About Nautilus Minerals Inc.
Nautilus is the first company to commercially explore the ocean floor for gold and copper seafloor massive sulphide deposits and is positioned to become an emerging producer in 2010. The Company's main focus for 2008 is the Solwara 1 Project, which is located in the territorial waters of Papua New Guinea in the western Pacific Ocean. Nautilus is listed on the TSX and on AIM, and has among its largest shareholders three of the world's leading international resource companies, including Epion (22.4%), Teck Cominco (7.2%) and Anglo American (5.7%).
For more information please refer www.nautilusminerals.com or contact:
Investor Relations
Nautilus Minerals Inc. (Toronto)
Email: investor@nautilusminerals.com
Tel: +1 (416) 551 1100
Australian Project Office
Tel: +61 (7) 3318 5555
Numis Securities Limited (NOMAD)
John Harrison/James Black
Tel: + 44(0) 20 7260 1000
Conduit PR Ltd (UK Financial PR)
Charlie Geller/Arabella Hobbs
Tel: + 44(0) 20 7429 6610 / +44(0) 7979 067 320
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You can view the Previous News Releases item: Fri Dec 21, 2007, Additional Shares to be admitted to Trading
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