Key points
- Nautilus Minerals held $84.6-million (U.S.) in cash and cash equivalents as at June 30, 2015.
- The company advanced the Solwara 1 project and construction of the production support vessel, with all key long-lead equipment orders placed by the end of the quarter.
- Earth Economics released an independent environmental and social benchmarking analysis of the Solwara 1 project.
- Nautilus granted the state nominee an extension of its option exercise date and announced a change to its board of directors.
Nautilus Minerals Inc. has released its unaudited consolidated financial statements for the second quarter ended June 30, 2015, together with the management’s discussion and analysis.
2015 significant events:
Advanced the Solwara 1 project; Advanced the construction of the production support vessel; Recommenced modest exploration programs; Released Earth Economics’ independent environmental and social
benchmarking analysis;Granted the state nominee an extension of its option exercise date; Announced a change to the board of directors;
$84.6-million (U.S.) in cash and cash equivalents as at June 30, 2015.
- Advanced the Solwara 1 project;
- Advanced the construction of the production support vessel;
- Recommenced modest exploration programs;
- Released Earth Economics’ independent environmental and social
benchmarking analysis;
- Granted the state nominee an extension of its option exercise date;
- Announced a change to the board of directors;
- $84.6-million (U.S.) in cash and cash equivalents as at June 30, 2015.
Mike Johnston, Nautilus’s chief executive officer, commented: “We have continued to make steady progress this past quarter in advancing the build of the sea floor production equipment to be used at Solwara 1, in particular ongoing commissioning of the sea floor production tools and the welding of the riser pipes. The PSV build is progressing to plan, with all key long-lead-equipment orders placed by the end of the quarter, and design work and preliminary class approval on schedule. Another exciting highlight for the quarter was the release of the independent study by Earth Economics, which concluded that the Solwara 1 project has the potential to significantly reduce social and environmental impacts commonly associated with large surface terrestrial copper mines. The company remains dedicated to developing an environmentally and socially responsible approach for sea floor mining, commencing with production from Solwara 1, planned in Q1 2018.”
The financial statements and management’s discussion and analysis will be filed on SEDAR and will be available on the company’s website.
Investor update
The company will hold a conference call and audio/webcast to update investors on the company’s progress on Thursday, Aug. 13, 2015, at 10 a.m. Eastern Daylight Time.
Conference call details
Dial-in numbers:
International: 61-2-8524-5042
Australia: 1800-801-825
Canada: 1855-842-3490
United Kingdom: 0800-015-9725
United States: 1855-298-3404
Attendee passcode: 2882505
International: 61-2-8524-5042
Australia: 1800-801-825
Canada: 1855-842-3490
United Kingdom: 0800-015-9725
United States: 1855-298-3404
Attendee passcode: 2882505
If your country dial-in number is not included here, please e-mail investor@nautilusminerals.com.
A presentation to support the conference call will be posted on the company’s website for download by 9:30 a.m. EDT (Toronto) on Thursday, Aug. 13, 2015.
