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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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| | May 01, 2009
Financial Results for First Quarter 2009
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| | News Release Number 2009-08
Toronto Ontario, May 1, 2009 - Nautilus Minerals Inc. (TSX & AIM: NUS) (the "Company" or "Nautilus") announces the release of its unaudited consolidated financial results for the first quarter ended March 31, 2009 together with Management's Discussion and Analysis. Nautilus will hold an investor update conference call in mid-May to provide details on our progress.
First quarter 2009 highlights:
- US$215.3 million (equivalent) in cash and cash equivalents held on deposit with major banks as at March 31, 2009
- Teck Cominco confirmed Seafloor Massive Sulphide exploration plans
- Exploration success continued in Tonga
- Mining Warden's Hearing completed
The Company's cash balance at the end of the quarter is in line with management's expectations and reflects a reduction in creditors during the quarter. Nautilus continues to conserve cash until equipment build restart, through cost reduction programs and maintaining its cash in currencies that reflect the Company's current and expected cash outflows, to take advantage of natural hedges. The quarterly cash balance reflects the revaluation of those currencies in US dollars, resulting in a foreign exchange loss of US$4.0 million.
Stephen Rogers, Nautilus' CEO commented: "The emphasis this quarter has been on reducing costs and strengthening the Solwara 1 Project. We are seeing significant improvement in our capital and operating costs from changes in the marine sector. Additionally, we are pleased that the permitting and community consultation process is progressing to expectation in Papua New Guinea."
The Financial Statements and Management's Discussion and Analysis have been filed on www.sedar.com and are also available on the Company's website 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
Nominated adviser: John Harrison
Corporate broking: James Black
Tel: + 44(0) 20 7260 1000
Neither the TSX nor the London Stock Exchange accept responsibility for the adequacy or accuracy of this press release.
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| | You can view the Next News Releases item: Wed May 13, 2009, Drilling Discovers New-High Grade Zones Near Solwara 1 Resource.
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