Nautilus Minerals Inc.

Undersea mining closer to reality

"The quality of this relationship with China's largest importer of copper concentrates provides further evidence that there is considerable interest in the high grade massive sulphides being found by the emerging seafloor resource production industry," said Nautilus CEO Stephen Rogers.

Nautilus Minerals shares on the rise after solid year end results

Nautilus Minerals Inc. shares were up almost 24% this morning (TSX:NUS), after the company released solid year end results with, narrowing its full-year loss in 2011 to US$34 million.

Nautilus signs contract for Eastern Pacific exploration tenements

Nautilus Minerals' Tongan wholly owned subsidiary, Tonga Offshore Mining Ltd ("TOML") recently formally signed the agreement with the International Seabed Authority ("ISA") for exploration tenements in the Eastern Pacific granted in July 2011.

ABB equipment to power Nautilus ocean mining rigs

ABB’s UK marine services business has won a unique order to supply transformers and switchgear for one of the world’s first commercial deep sea mining projects.

Nautilus increases indicated marine gold and copper by more than 20%

Nautilus, the first company to explore the ocean floor for polymetallic seafloor massive sulphide deposits, announced on Friday a drilling campaign conducted at its tenements in the Bismarck Sea of Papua New Guinea has enabled the company to increase the resource estimate at its Solwara 1 project, and to declare a maiden Inferred Resource at the nearby Solwara 12 deposit.

Earlier this month Toronto-listed company completed the quarter with a cash balance of $155.1 million, after successfully raising $70.5 million in the first tranche of a $98.1 million capital raising. The final tranche of C$27.6 million was received in October. The capital raising involved the issue of approximately 39 million shares at C$2.52 per share. The counter was trading down 2.9% on Friday at $2.29 giving it market worth of $448 million.

Study casts doubt on undersea mining

A new study is casting doubt on the viability of undersea mining, despite recent success by Vancouver-based Nautilus Minerals (TSE:NUS) in obtaining the first-ever permit to mine the seafloor off the coast of Papua New Guinea.

The Canadian-led study, published in the journal Geology, states that "the possibility of mining sea floor [deposits] has stirred debate about the sustainable use of this new resource and whether commercial development is worth the risk.”

The Vancouver Sun quotes Mark Hannington, the University of Ottawa's Goldcorp Chair in Economic Geology and lead author of the study, saying that while there may be vast mineral deposits under the ocean, they cannot hope to meet the world demand for metals:

Nautilus now has $155 million kitty and all its green permits for undersea mine

Nautilus, the first company to explore the ocean floor for polymetallic seafloor massive sulphide deposits, announced on Friday it has completed the quarter with a cash balance of $155.1 million, after successfully raising $70.5 million in the first tranche of a $98.1 million capital raising. The final tranche of C$27.6 million was received in October. The capital raising involved the issue of approximately 39 million shares at C$2.52 per share.

Nautilus is developing its first project at Solwara 1, in the territorial waters of Papua New Guinea, where it is aiming to produce gold, copper and silver. The company has been granted all necessary environmental and mining permits. Nautilus also holds approximately 600,000 square kilometers of highly prospective exploration acreage in the western Pacific, in PNG, the Solomon Islands, Fiji, Vanuatu and Tonga, as well as in international waters in the eastern Pacific.

Nautilus closes C$70.5 million first tranche of private placement

Nautilus Minerals Inc. (TSX:NUS)(AIM:NUS) has received gross proceeds of C$70.5 million from the issue of the first tranche of shares forming part of the recently announced private placement. A total of 27,987,853 shares were issued today in the first tranche at an issue price of C$2.52 per share.

Nautilus withdraws capital raising

As a result of weak financial market conditions, Nautilus Minerals (TSX:NUS)(AIM:NUS) has decided to withdraw its proposed capital raising.

Despite a positive response from investors during marketing of the proposed transaction over the past two weeks, adverse market conditions had meant that it was not in the interests of shareholders for the transaction to proceed.

Nautilus Minerals completes drilling program

Nautilus Minerals (TSX:NUS)(AIM:NUS) has completed its 2010/11 seafloor drilling program, with the vessel REM Etive having demobilized in Singapore on May 16, 2011.

During the drilling program in the Bismarck Sea of Papua New Guinea, Nautilus completed a 99-hole diamond drilling project, for a total of 1,475 metres.

Nautilus forms strategic partnership and secures vessel

Nautilus Minerals' (TSX:NUS)(AIM:NUS) plan to open a new frontier of seafloor resource production has taken a major step forward, with the formation of a strategic partnership with German shipping company Harren & Partner ("Harren").

A joint venture company (the "Vessel JV") is to be formed to own and operate a production support vessel which will serve as the operational base for Nautilus to produce high grade copper and gold ore at its first development project, Solwara 1, in the Bismarck Sea of Papua New Guinea ("PNG").

Nautilus Minerals confirms high grade gold mineralisation

Toronto, Ontario–(Marketwire – Jan. 25, 2011) – Gold grades of up to 20.8 g/t and copper grades of up to 37.7% have been confirmed in assay results from seafloor drilling at the Nautilus Minerals Inc. (TSX:NUS)(AIM:NUS) Solwara 1 project in the Bismarck

Nautilus Minerals shares surge on deep sea-mining lease

The miner says it has been granted a lease to develop its copper-gold project in the southwestern Pacific Ocean by the government of Papua New Guinea.

Mining the Deeps

While the mining industry was struggling with the impacts of the economic meltdown, one Canadian company, Nautilus Minerals, announced at the end of 2008 that it was ready to start mining the deep ocean floor. All Nautilus had to do was finish building special …

Nautilus Minerals Releases Offshore Production System Definition and Cost Study

Nautilus Minerals Inc. announced the results of an independent definition and cost study for its proposed offshore production system to be deployed in the territorial waters of Papua New Guinea ("PNG"). The study provides definition and cost estimates to extract material …