Nautilus Minerals Inc. (the “Company” or “Nautilus”) announces the release of its unaudited consolidated Financial Statements for the third quarter ended September 30, 2013, together with Management’s Discussion and Analysis.
Q3 2013 Significant Events:
– Received a favorable decision on arbitration with the State of Papua New Guinea (the “State”)
– Advanced the Solwara 1 Project
– Completed a Nodule Exploration Program to the Clarion Clipperton Zone
– US$54.0 million in cash and cash equivalents as at September 30, 2013
“ Nautilus looks forward to bringing the Solwara 1 Project into production and will work with the State in order to move the Project forward in light of the arbitrator’s award” said Nautilus’ interim CEO, Mike Johnston . “Our immediate plan is to complete the build of the seafloor production equipment. The critical path for the project remains the vessel. Now that we have received the arbitration decision we are in a better position to select a shipyard and finalise the vessel financing structure.”
“We are also delighted with the recent completion of a successful exploration program to the Clarion Clipperton Zone which represents a key step for us in advancing Nautilus’ 100% owned subsidiary Tonga Offshore Mining Limited’s CCZ project. We look forward to reporting assay results and preliminary metallurgical testwork as these results become available over the next few months.”
Press Release, November 14, 2013