Nautilus Minerals Inc. has appointed John O’Reilly as a non-executive director, effective immediately.
Mr. O’Reilly, who holds a BSc in metallurgy and an MSc in mineral process design, brings with him a wealth of expertise, having over 40 years of experience in the international mining industry. This includes 19 years with Rio Tinto PLC, including head of technology, and head of gold and other minerals, based in London, and a secondment to the Lihir Management Company as managing director. Mr. O’Reilly was the inaugural chief executive officer of Lihir Gold Ltd. in Papua New Guinea, a plus-40-million-ounce gold resource, where he was responsible for the design, engineering, construction and initial operation of the $900-million (U.S.) Lihir mine, plant and associated infrastructure. He retired as a non-executive director of Lihir Gold in the end of 2006.
In his last position as head of technology at Rio Tinto, Mr. O’Reilly was responsible for the technical services, technical evaluation, project management, health safety and environmental issues, and asset use units. He sat on the Rio Tinto board committee for social and environment accountability. His directorships include Lion Selection Ltd., Cambrian Mining PLC, Ausenco Ltd. and OJSC Polymetal.
David Heydon, Nautilus’s president and chief executive officer, commented: “We are delighted that Nautilus has been able to secure a non-executive director with John’s experience. His extensive knowledge and background in the mining industry, specifically major project delivery in Papua New Guinea, where we are focused on developing the Solwara 1 deposit as the world’s first high-grade sea floor copper-gold mine, makes John an invaluable addition to the Nautilus board of directors. John’s appointment rounds out our board and management team as we move in to the development phase.”
The company is required to disclose under the Alternative Investment rules for companies the following information in relation to the appointment of Mr. O’Reilly, 62, as a director of the company:
Current directorships and partnerships held by Mr. O’Reilly include Lion Selection Ltd., Cambrian Mining PLC, Ausenco Ltd., OJSC Polymetal and Indophil Resources NL.Directorships and partnerships held by Mr. O’Reilly in the last five years include Lihir Gold Ltd., Lion Selection Group Ltd. and AuSelect Ltd.
- Current directorships and partnerships held by Mr. O’Reilly include Lion Selection Ltd., Cambrian Mining PLC, Ausenco Ltd., OJSC Polymetal and Indophil Resources NL.
- Directorships and partnerships held by Mr. O’Reilly in the last five years include Lihir Gold Ltd., Lion Selection Group Ltd. and AuSelect Ltd.
There is no further information, in connection with his appointment, which is required to be disclosed in accordance with Rule 17 and Schedule 2(g) of the AIM rules for companies.
Options granted
On Dec. 4, 2007, the company granted 100,000 options to Mr. O’Reilly at an exercise price of $4.43 (Canadian). The options vest at 20 per cent every six months from the issue and expire on Nov. 13, 2010. The options granted to Mr. O’Reilly are received in lieu of payment for his services as a director for the company.
In addition, 164,614 options were granted to Mr. Heydon, in accordance with his employment contract, at an exercise price of $4.03 (Canadian). The options vest at 25 per cent immediately and every six months thereafter.
Details regarding the options granted (total of 264,614 options)
Name: Mr. O’ReillyDate of grant: Dec. 4, 2007Number of options: 100,000Exercise price: $4.43 (Canadian)Vesting period: 20 per cent every six months from date of issueExpiration date: Dec. 4, 2010
Name: Mr. O’Reilly
Date of grant: Dec. 4, 2007
Number of options: 100,000
Exercise price: $4.43 (Canadian)
Vesting period: 20 per cent every six months from date of issue
Expiration date: Dec. 4, 2010
Name: Mr. HeydonDate of grant: Dec. 4, 2007Number of options: 164,614Exercise price: $4.03 (Canadian)Vesting period: 25 per cent on grant and 25 per cent every six months thereafterExpiration date: Dec. 4, 2010
Name: Mr. Heydon
Date of grant: Dec. 4, 2007
Number of options: 164,614
Exercise price: $4.03 (Canadian)
Vesting period: 25 per cent on grant and 25 per cent every six months thereafter
Expiration date: Dec. 4, 2010
