Key points
- The company held $185-million (U.S.) equivalent in cash and cash equivalents on deposit with major banks as at June 30, 2010.
- Nautilus signed a contract with the TSMarine Group of Companies for its 2010 drilling program in the second half of 2010.
- The company issued a variation order to Soil Machine Dynamics valued at 19 million pounds sterling, equivalent to $28-million (U.S.) or $29-million (Canadian).
- Cynthia Thomas was appointed to the company’s board of directors.
Nautilus Minerals Inc. has released its unaudited consolidated financial results for the second quarter ended June 30, 2010, together with management’s discussion and analysis.
Second quarter 2010 highlights:
$185-million (U.S.) (equivalent) in cash and cash equivalents held on deposit
with major banks as at June 30, 2010;Contract signed with the TSMarine Group of Companies for 2010 drilling
program in H2 2010;Release of independently verified offshore production system definition
and cost study; Issue of variation order to soil machine dynamics (SMD) valued at
19 million pounds sterling ($28-million (U.S.) or $29-million (Canadian) equivalent); Board strengthened with the recent appointment of Cynthia Thomas.
- $185-million (U.S.) (equivalent) in cash and cash equivalents held on deposit
with major banks as at June 30, 2010;
- Contract signed with the TSMarine Group of Companies for 2010 drilling
program in H2 2010;
- Release of independently verified offshore production system definition
and cost study;
- Issue of variation order to soil machine dynamics (SMD) valued at
19 million pounds sterling ($28-million (U.S.) or $29-million (Canadian) equivalent);
- Board strengthened with the recent appointment of Cynthia Thomas.
Stephen Rogers, Nautilus’s chief executive officer, commented: “We are excited by the progress made in the first half of 2010. Design work is proceeding on the Seafloor Production Tools and preparations continue for the drilling program in Q4 2010. With $185-million (U.S.) in cash and cash equivalents, we continue to maintain a strong financial position.”
The financial statements, and management’s discussion and analysis have been filed on SEDAR and are also available on the company’s website.
