Key points
- Nautilus Minerals held $209.3-million (U.S.) equivalent in cash and cash equivalents on deposit with major banks as at Dec. 31, 2009.
- The company was granted an environmental permit from Papua New Guinea authorities and secured port capacity at Rabaul.
- Nautilus made eight new discoveries during 2009 exploration in PNG and found high-grade SMS systems during a 2009 Tongan exploration cruise.
- A conference call and webcast to discuss the results will be held Wednesday, March 17, 2010 at 9 a.m. EDT, quoting conference ID No. 63158616.
Nautilus Minerals Inc. has released its audited consolidated financial statements for the year ending Dec. 31, 2009, reported under Canadian GAAP (generally accepted accounting principles), together with management’s
discussion and analysis, its annual information form and an updated technical report.
2009 highlights
$209.3-million (U.S.) (equivalent) in cash and cash equivalents held on deposit with major banks as at Dec. 31, 2009;Granted environmental permit from Papua New Guinea (PNG) authorities;Exploration success in PNG with eight new discoveries; High-grade SMS systems discovered during 2009 Tongan exploration cruise; Port capacity at Rabaul secured.
- $209.3-million (U.S.) (equivalent) in cash and cash equivalents held on deposit with major banks as at Dec. 31, 2009;
- Granted environmental permit from Papua New Guinea (PNG) authorities;
- Exploration success in PNG with eight new discoveries;
- High-grade SMS systems discovered during 2009 Tongan exploration cruise;
- Port capacity at Rabaul secured.
Stephen Rogers, Nautilus’s chief executive officer, commented: “Nautilus committed to maintain its strong cash position in 2009. We met this commitment and were able to significantly advance Solwara 1 engineering and permitting. Our position as the leading explorer for seafloor massive sulphide systems was maintained through our highly successful 2009 exploration programs. The company continues to advance discussions with potential joint-venture partners for its Solwara 1 project.”
The company’s annual information form, audited consolidated financial statements and management’s discussion and analysis for the year ending Dec. 31, 2009, and a technical report as at Dec. 31, 2009, have been filed on SEDAR and are available from the company’s website.
The technical report was prepared by Phil Jankowski of SRK Consulting (Australasia) Pty. Ltd., a qualified person under National Instrument 43-101, Standards of Disclosure for Mineral Projects.
Conference call details
A conference call and webcast will be held on Wednesday, March 17, 2010, at 9 a.m. EDT (Toronto) (1 p.m. GMT (London)).
Dial-in numbers:
International dial-in: 61-2-8524-6650
Australia: 1-800-148-258
Canada: 1-866-837-4489
United Kingdom: 08-000-569-662
United States of America: 1-866-586-2813
Please quote conference ID No.: 63158616
If your country dial-in number is not included here please e-mail the company.
A presentation to support the conference call will be posted on the company’s website for download by 8:30 a.m. EDT on March 17, 2010.
