Toronto Ontario, August 14, 2017 – Nautilus Minerals Inc. (TSX:NUS, OTC:NUSMF Nasdaq Intl Designation) (the “Company” or “Nautilus“) announces the release of its unaudited consolidated Financial Statements for the second quarter ended June 30, 2017, together with Management’s Discussion and Analysis.
Q2 2017 Significant Events
- Received US$6 million through the US$20 million bridge financing facility provided by the Company’s two largest shareholders during Q2 2017.
- Commenced submerged trials following arrival of the Seafloor Production Tools in Papua New Guinea at the end of Q1 2017.
- Advanced the integration of the Launch and Recovery System and ancillary equipment onto the Production Support Vessel at the Mawei shipyard in China.
- US$14.0 million in cash and cash equivalents as at June 30, 2017.
Mike Johnston, Nautilus’ CEO, commented, “Q2 2017 has been an important period for the Company. We have made significant progress on the submerged trials in Papua New Guinea, continued with the vessel build, and importantly the integration of our equipment
onto the vessel, all backed by the continued support of our major shareholders through the bridge finance facility. Subject to further financing, we remain on schedule to develop the world’s first commercial high grade seafloor copper-gold mine at the Solwara 1 project site in Q1 2019.”
The unaudited Financial Statements and Management’s Discussion and Analysis will be filed on www.sedar.com and will also be available on the Company’s website.
For more information please refer to
Nautilus Minerals Inc. (Toronto)
Tel: +1 416 551 1100