Nautilus Minerals Inc. has released its unaudited consolidated financial results for the first quarter ended March 31, 2008, together with management’s discussion and analysis.
First-quarter 2008 highlights:
$308.0-million (U.S.) (equivalent) in cash and cash equivalents held on deposit with major banks as at March 31, 2008; Preliminary results from first phase mineralogical and metallurgical investigations of ore show a commercial-grade copper concentrate with low impurity levels indicating that good recovery should be produced;Teck Cominco Ltd. commences deep sea exploration program;$116-million (U.S.) contract awarded for engineering procurement and construction management (EPCM) services for riser and lifting system.
- $308.0-million (U.S.) (equivalent) in cash and cash equivalents held on deposit with major banks as at March 31, 2008;
- Preliminary results from first phase mineralogical and metallurgical investigations of ore show a commercial-grade copper concentrate with low impurity levels indicating that good recovery should be produced;
- Teck Cominco Ltd. commences deep sea exploration program;
- $116-million (U.S.) contract awarded for engineering procurement and construction management (EPCM) services for riser and lifting system.
David Heydon, president and chief executive officer, commented: “The first quarter of 2008 has been very successful for the company, with the award of the second of three major contracts for the components of the mining system. The company is in a healthy position financially with $308.0-million (U.S.) invested as at the end of the quarter.”
The financial statements, and management’s discussion and analysis have been filed on SEDAR and are also available on the company’s website.
