Company Information for Nautilus Minerals Inc
Company stock charts - 6 Month chart
View full financial data | View full financial data |
Company Statement
Nautilus Minerals is the first company to commercially explore the ocean floor for polymetallic Seafloor Massive Sulphide ("SMS") deposits and is currently developing its first project. The Company's main focus is the Solwara 1 Project, which is located in the territorial waters of Papua New Guinea in the western Pacific Ocean.
Nautilus Minerals is developing a production system using existing technologies adapted from the offshore oil and gas industry to enable the extraction of these high-grade SMS systems on a commercial scale.
Nautilus Minerals is listed on the TSX and AIM stock exchanges, and has among its largest shareholders two of the world's leading international resource companies Anglo American (11.1%), Teck Resources (6.8%) and Metalloinvest, one of the largest and fastest growing mining and metallurgical holding companies in Russia, beneficially owns 21.0% of its shares through Gazmetall Holding (Cyprus) Limited.
Company Diagram

Current Operations
Nautilus Minerals is focused on the Solwara 1 Project, which is located at 1,600 metres water depth in the Bismarck Sea, Papua New Guinea.
Nautilus Minerals is developing an integrated production plan to develop a "best practice" ecologically sound and sustainable recovery system for the known resource and expected resource upside.
The implementation plan is a two-phased project development:
- Development and demonstration of the offshore recovery system (Phase 1)
- Subsequent optimisation through development of a mineral treatment facility (Phase 2).
The recovery and ore handling system in phase 1 will comprise the following main elements:
- Seafloor Mining Tool
- Riser and Lifting System
- Production Support Vessel
- Ore Transfer Barges
- Rabaul Port Ore Stockpile and Handling Facility.
The system design draws extensively upon technology used in the subsea oil and gas sector, and combines this with rock cutting and materials handling technologies used in land-based mining operations. To ensure reliability, dual redundant systems are employed on critical subsystems such as the cutting tools.
The Production Support Vessel (PSV) is a key component of the recovery system and will be fitted out with the Subsea Mining Equipment. The ore will be cut and transported via a horizontal pipe as slurry to the riser system. The ore will be lifted to the ship via a subsea pumping and pipe-works system, where it will be dewatered, and the resulting deep sea water returned to the same water depth from where it was extracted. The dewatered ore will then be barged to Rabaul, where it will be temporarily stored, and then transferred to large ocean going bulk carriers for shipping to an existing concentrator facility for tool treatment. Concentrate will be sold to the smelting markets.
Building on the success and using cash flow from Phase 1, Nautilus will build and commission a mineral treatment concentration facility to upgrade the ore to concentrate before smelting and onward sake to the market. This project phase will add further value to the development.
Geographical Spread
Western Pacific
Board of Directors and Key Management
| Directors | |
| A. Geoffrey Loudon | (Chairman and Non-Executive Director) |
| Stephen Rogers | (President, Chief Executive Officer and Executive Director) |
| David De Witt | (Non-Executive Director) |
| Russell Debney | (Non-Executive Director) |
| Matthew Hammond | (Non-Executive Director) |
| Cynthia Thomas | (Non-Executive Director) |
| Management | |
| Anthony O'Sullivan | (Chief Operating Officer) |
| Shontel Norgate | (Chief Financial Officer) |
| Michael Johnston | (Vice-President Strategic Development) |
| Scott Trebilcock | (Vice-President Business Development and Investor Relations) |
| Glen Smith | (Chief Technology Officer) |
| Mel Togolo | (PNG Country Manager) |
| Paul Tamoepeau | (Tonga Country Manager) |
Company AddressCorporate Office
|
Additional Address/Key ContactProject Office (Brisbane, Australia) |
CapitalIssued Capital: Nautilus Minerals has on issue as at March 31, 2010;
|
Annual General Meeting23 June 2010 | Year EndJune 30 |
Nominated BrokersNumis Securities Limited | Nominated AdvisorsNumis Securities Limited |
Major Shareholders
| Gazmetall Holding (Cyprus) Limited | 21.0% |
| Teck Resources | 6.8% |
| Anglo American plc | 11.1% |
Related News
30/06/10 - Nautilus Minerals Starts To Reveal The Potential Costs And Benefits Of Seabed Mining In The Waters Of Papua New Guinea19/01/10 - Nautilus Minerals Anticipates First Copper Production From Seafloor Massive Sulphides In 2012
01/09/09 - Last Year’s Decision To Cancel An Order For A Mining Support Vessel Is Now Paying Off For Nautilus Minerals
31/03/09 - Nautilus Is Positioning Itself Shrewdly For The Eventual Upturn In Metal Prices
Most Recent Statement
26/08/10 - Nautilus Issues Options11/08/10 - Half year report
25/06/10 - Result of AGM
23/06/10 - Drilling Report
10/06/10 - Nautilus Minerals Signs Contract for 2010 Drilling Program
28/05/10 - Nautilus Releases Annual Report and Proposes New Director at AGM in Vancouver



