Nautilus Minerals Share Discussion Threads

[zangdook] 10/6/2011 14:00

I'd have thought the withdrawal was a positive; the price seemed to have been moved down and NUS wouldn't take it. Perhaps I'll have to top up again.

[davethechef] 04/6/2011 11:56

Nice article in today's Daily Mail, quite a feature; hold for the long term it suggests.

[andrbea] 23/5/2011 11:09

After investing about $400 million, Nautilus aims to produce ore at an annual rate of more than 1.3 million tons, containing approximately 80,000 tons of copper and up to 200,000 ounces of gold for a number of years before shifting its moveable production system to other nearby deposits it has found.

Multi-metallic sulphides are found around seabed hot springs emerging from volcanic vents. Seawater percolates down through the crust and reacts chemically with the rocks at very high temperatures, collecting metals as it does so.

When the hot vent water rises and mixes with the cold seawater on the ocean floor, the metals precipitate out to form concentrated deposits.

Exploiting these deposits in national waters is already controversial. After returning from a recent visit to Papua New Guinea, Australia's Greens party leader, Sen. Bob Brown, said he would seek a Senate inquire into the environmental impact of undersea mining.

Other critics say that the Asia-Pacific rim is being made a test bed for a potentially damaging new form of mining as technology races ahead of regulation.

Another Canadian-based company, DeepGreen Resources Inc., is seeking financial backing to mine a massive copper-nickel deposit in international waters in the Pacific Ocean between Hawaii and Mexico. The deposit lies 4,500 meters below the surface of the sea.

Meanwhile, China and India have filed applications with the United Nations International Seabed Authority (ISA) for high seas mining rights of the Indian Ocean. The ISA has regulatory authority over seabed mineral resources in international waters. Its mandate is to ensure that these resources are exploited in a way that is fair to all countries.

[andrbea] 23/5/2011 11:03

May 17

Nautilus' CEO, Steve Rogers, said the highlight of the campaign had been the identification of mineralization at depth at Solwara 12 and the improved knowledge gained at Solwara 1.

Nautilus has commissioned Golder & Associates to generate an updated resource estimate.

[mattybuoy] 13/5/2011 01:26

Fund raising ...

[andrbea] 18/4/2011 14:18

anyway, strong close in Canada Friday
and up 5% here today

[quarantedeux] 15/4/2011 18:53

andbrea

Like you I think this is a great medium term hold, 20k shares for me at avge £1.54 so well pleased, but for maximum leverage I am looking to exit on first RNS about successful lifts from the sea floor.

I am just trying to understand the ultimate percentages and I can't make sense of 127m less 75m bank debt and why we are paying twice Herren's "equity and loans" and why Petromin are contributing anything except through the holding company - and their 4m bears no relation to any disclosed % investment.

[andrbea] 15/4/2011 15:02

as to the acreage (Jan 2011):

Tell me about the ground holdings, the environment and how you rate the potential of your acreage?

We have got an area under title of 520,000 sq km, which is like one and half times the size of the state of California or two times the UK, so it is a pretty big chunk of ground. It is in 1,500 metres of water, so it's deep water but it's not ultra deep. The Bismarck Sea is one of the world's most quiescent seas. – it's at 3 degrees south, so it's on the Horse Latitude, or the Doldrums. The sea state data shows that only 3% of the time does a wave ever get over two metres. If you compare that to Namibia where De Beers are operating in the waters there, I think they've got something like 40% or 50% chance of 2 metres, so it gives you a feel for the difference in environment. It is 60km from the deep water port of Rabaul and 30km from the coast, so it's well situated but it is still far enough away that it is not that easy to get to from shore, so it's a good distance.

We have focused on areas that we think are prospective and the types of deposits that we are looking at, we call them sea-floor massive sulphide deposits, are really modern variants of a type of deposit called volcanogenic massive sulphides. That sort of deposit has been seen at Kidd Creek (copper deposit in northern Ontario, Canada) and Brunswick (zinc deposit in New Brunswick, Canada) and can be up to 100m tons each. Typically a deposit is of the order of 5m to 10m tons but they occur in districts and clusters and the districts are generally hundreds of millions of tons. So, you look at the sorts of grades that we're getting: 7% copper, 7 grams per ton of gold, in districts with hundreds of millions of tons and where you've got a mining system that is mobile. Once you finish mining a deposit you pick up all your equipment, sail over to another deposit, drop all your equipment and you can be in production again within days. It is a very different economic model. It is almost like what you see in agricultural areas, particularly in small-holdings, where farmers will grow crops and then you'll have a contract harvester who goes from one farm to another using that harvesting equipment on multiple farms. So it's almost that model where you can use that one set of harvesting equipment to go from deposit to deposit. Once you have invested your initial capital you don't have to amortise it all against one deposit, you can do it over multiple deposits.

[andrbea] 15/4/2011 14:44

we don't know what the png investment comprises, maybe they're shelling out big time on something else?

anyroad a lease for 20 years might be dearer than half-owning a vessel.

their vast unexplored acreage (under licence) is what appeals to me about nus

once the technology is proven on their first project, they can farm out the other tenements, or do what they want.

[quarantedeux] 15/4/2011 09:35

andrbea

Been trying to understand logic for lease not purchase of vessel.

Any thoughts?

Seems to me that the only logical explanation is that PNG 30% interest isn't matched by cash commitments to capex. Did they baulk at finding 30% of vessel cost in next 12 months and that is why we have had to give away half to Harren. If so, bit of a shame and something to keep an eye on.

" ....cost of approximately EUR127 million (US$167 million), with delivery scheduled for the first half of 2013. On delivery, the vessel will be sold to the Vessel JV in which Harren will hold a 50.01% interest. The remaining 49.99% of the Vessel JV will be controlled by Nautilus through a holding company in which the PNG government owns a 5% stake through its wholly owned company Petromin PNG Holdings Ltd ("Petromin")."

"Funding for the Vessel JV will include approximately EUR75 million (US$99 million) in bank debt to be procured by Harren, which also will contribute EUR16 million (US$21 million) in equity and loans. Nautilus will contribute approximately EUR32 million (US$42 million) in equity and loans, and Petromin will contribute the remaining EUR4 million (US$5 million)."

The 5% interest doesn't show up on the Group structure in the SEDAR filings.

Is there anything else they are not going to participate at the 30% rate?

[andrbea] 06/4/2011 14:14

new article (April 5)

But the appeal of mining the seafloor is clear enough: Solwara 1 sports near-ludicrous grades of 6.8% copper and 4.8 grams per tonne of gold. On land, a copper grade of 0.5% to 1% would be considered normal and worth mining. In mining lingo, high grade means little waste material, which means low operating costs. And mining underwater is actually a lot cheaper than carving an open pit out of, say, the Andes mountains. Nautilus expects to spend about US$385 million to develop Solwara 1, a relative bargain in an industry where multi-billion-dollar developments on land are becoming commonplace

[andrbea] 31/3/2011 13:04

and 'share future costs'

Nautilus Minerals (C$2.70, C$0.12, 4.7%) said the Government of Papua New Guinea will acquire a 30% stake in Solwara 1 project, while the company will retain the other 70%. The government will pay an initial $20-$25 million for the stake, and share future costs.

[andrbea] 30/3/2011 10:31

it's a major milestone for the company
also gives them IMO the financial security to do some seismic on the (massive) acreage they have under licence (which is still mostly unexplored)

[daz] 29/3/2011 15:35

PNG government invest, not much reaction so far though.

[grupo guitarlumber] 28/3/2011 08:09

TIDMNUS

Annual Financial Report
FOR: NAUTILUS MINERALS INC.

TSX, AIM SYMBOL: NUS

March 24, 2011

Nautilus Annual Results

TORONTO, ONTARIO--(Marketwire - March 24, 2011) - Nautilus Minerals Inc. (TSX:NUS)(AIM:NUS) ended 2010 in a
strong financial position with US$165 million in cash and cash equivalents, and after making significant
progress in the development of its pioneering seafloor resource project in the Bismarck Sea of Papua New
Guinea.

The company has today released its 2010 full year financial results, Annual Information Form and updated NI43-
101 Technical Report.

The highlights of the year were as follows:

/T/

=- Commencement of a major exploration drilling campaign in the Bismarck
Sea, which has delivered an enhanced understanding of the Solwara 1
deposit.
=- Advanced development of the Solwara 1 project, with the key contract for
construction of Seafloor Production Tools (SPT) reinstated during the
year
=- Release of a comprehensive study outlining expected capital and
operating costs associated with production of ore from the Solwara 1
deposit, which confirms the robust commercial aspects of the project
(link to full study below in links section).

/T/

Since the year end, the company has announced further major progress in the development of the Solwara 1
project, and in other exploration initiatives.

/T/

=- In January, the PNG Government granted Nautilus the first Mining Lease
in the Pacific region to allow deep sea resource development in the
Bismarck Sea. The lease provides Nautilus with a 20 year licence to mine
an area of approximately 59 km(2) surrounding Solwara 1, 50 km north of
Rabaul, where Nautilus intends to mine high-grade copper and gold
deposits on the seafloor, at depths of approximately 1600 metres. (link
to full study below in links section)
=- In March, the PNG government confirmed its intention to take a 30% stake
in the Solwara 1 project as a joint venture partner. The government will
contribute funds to the project in proportion to its interest, including
its share of the exploration and development costs incurred to date.
=- Also in January, Nautilus moved to a 100% interest in United Nickel Inc
(since renamed), which has applied to the International Seabed Authority
for a license to explore for polymetallic nodules in a 75,000 square
kilometre area of the seafloor in the Clarion Clipperton Zone (CCZ) of
the Eastern Pacific. The CCZ contains significant accumulations of
polymetallic nodules, which may become an important source of copper,
nickel and cobalt in the future.

/T/

The company reported a loss of US$45 million for the year, with total expenses of US$46.5 million, including
US$26 million in exploration costs, and wages and salaries of US$7.7 million. Total assets were US$207 million,
including US$165 million in cash and cash equivalents, leaving the company well positioned for the ongoing
development of the Solwara 1 project in 2011.

"Nautilus made excellent progress in 2010, the most significant milestone being the grant of the Mining Lease
early in the New Year," said Nautilus President and CEO Stephen Rogers.

"We are now finalising an agreement with a potential joint venture partner, and our exploration drilling
campaign has produced encouraging results. We look forward to further significant advancements in the project
during the remainder of 2011," he said.

Links

Offshore Production System Definition and Cost Study:


_3_21_June2010.pdf

Nautilus Granted Mining Lease:



The following documents have been filed on SEDAR www.sedar.com and are available from the Company's website,
www.nautilusminerals.com/s/Investors-Financials.asp and SEDAR www.sedar.com.

/T/

1. Audited consolidated financial statements and Management's Discussion
and Analysis for the year ending December 31, 2010;
2. Annual Information Form.
3. National Instrument 43-101 Technical Report as at December 31, 2010

/T/

Nautilus Minerals Inc.

Nautilus is the first company to commercially explore the ocean floor for polymetallic seafloor massive
sulphide deposits and is currently developing its first project. The Company's main focus 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 AIM stock exchanges, and has among its largest shareholders two of the
world's leading international resource companies Anglo American (11.1%) and Teck Resources (6.8%), as well as
Metalloinvest, one of the largest and fastest growing mining and metallurgical holding companies in Russia,
which beneficially owns 21% of the Company's issued shares through Gazmetall Holding (Cyprus) Limited.

Certain of the statements made in this news release may contain forward-looking statements within the meaning
of the United States Securities Exchange Act of 1934 and forward-looking information within the meaning of
applicable Canadian securities law. Forward-looking statements and forward-looking information include, but are
not limited to statements or information with respect to the conclusion of the negotiations of a strategic
partner relationship, the date of commencement of production and the annual rate of production from the Solwara
1 project and the amount of copper and gold to be derived there from, and the expansion of the resource base
within the disclosed time period. We have made numerous assumptions about the material forward-looking
statements and information contained herein, including among other things, that the possible strategic partners
will continue to negotiate with Nautilus and the negotiations will be successfully concluded, that the planned
annual rate of production will be achieved within the disclosed time period. Even though our management
believes that the assumptions made and the expectations represented by such statements or information are
reasonable, there can be no assurance that the forward-looking statement or information will prove to be
accurate. Forward-looking statements and information by their nature involve known and unknown risks,
uncertainties and other factors which may cause the actual results to be materially different from any future
results expressed or implied by such forward-looking statements or information. Such risks, uncertainties and
other factors include, among others, the risk that the potential strategic partners will not continue to
negotiate with Nautilus in good faith or at all. Should one or more of these risks, uncertainties or other
factors materialize, or should underlying assumptions prove incorrect, actual results may vary materially from
those described in forward-looking statements and information. Although we have attempted to identify factors
that would cause actual results to differ materially from those described in forward-looking statements and
information, there may be other factors that cause actual results, performances, achievements or events to not
be as anticipated, estimated or intended. Also, many of the factors are beyond our control. There can be no
assurance that forward-looking statements or information will prove to be accurate, as actual results and
future events could differ materially from those anticipated in such statements. Accordingly you should not
place undue reliance on forward-looking statements or information. Except as required by law, we do not expect
to update forward-looking statements and information as conditions change and you are referred to the full
discussion of the Company's business contained in the Company's reports filed with the securities regulatory
authorities in Canada.


-30-

FOR FURTHER INFORMATION PLEASE CONTACT:

Nautilus Minerals Inc. (Toronto)
Investor Relations
[phone]
[e-mail]
www.nautilusminerals.com

OR

Nautilus Minerals Inc.
Joe Dowling
Vice President Investor Relations and Communications
[phone] or Cell: [phone]
[e-mail]

OR

Numis Securities Limited
John Harrison
Nominated Adviser
+ 44(0) 20 7260 1000

OR

Numis Securities Limited
James Black
Corporate Broking
+ 44(0) 20 7260 1000

Neither the TSX nor the London Stock Exchange accepts responsibility for the adequacy or accuracy of this press
release.




Nautilus Minerals Inc.

[quarantedeux] 11/3/2011 20:42

A bit concerning that we haven't been told about PNG's option position - after all it is now their 12th.

[quarantedeux] 11/3/2011 10:18

The 30% PNG confirmation is due today. Fingers crossed.

[andrbea] 09/3/2011 13:44

besides the projects being undertaken by Japan, and by NUS in PNG, there's also a new seabed mining project (3000m deep) to report off the coast of New Zealand:



Everyone is getting in on the act.

Must be good too for peer discussions on the best equipment/devices to use....

[baton] 12/2/2011 22:52

No gold though.

[nelly23] 11/2/2011 16:33

Will be interesting to see how this fares in Toronto now that the suspension has been lifted? Looking good so far!