Nautilus Minerals Appoints New Independent Director

[Monk3]

https://finance.yahoo.com/news/nautilus-...32345.html

Welcome Jay Layman.  I don't know about investor success but recent activity does not point to a sinking ship.

[jeremiahj13]

This company is really disappointing. They delayed the project to the 3rd quarter of 2019

[GGGGG]

This company is really disappointing. They delayed the project to the 3rd quarter of 2019

"Commissioning and sea trials will then be completed prior to final deliver of the vessel in Q1 2019."

So Q1 2019 is the important date and a delay of a year.  They may be using the time productively, training a crew for example.  The new director is probably a good sign.   Investing in Nautilus now means doing things the Usmanov-Barwani way.  So they might be being meticulous if you want a positive spin.  They might also be hoping for the copper price jump much higher before committing.

Unrelated but the biggest offering out there, Saudi Aramco, seems permanently delayed until oil prices shoot for the moon. 

[KingKongFong]

This company is really disappointing. They delayed the project to the 3rd quarter of 2019

I don't really view this as huge a delay. They were shooting for first ore by the end of Q1 2019, not full production. The PEA estimates production by Q3 2019, implying first ore will be eariler.

The more worrisome bit is from page 25 of the PEA

"The ML [mining lease] is granted with an associated enviromental permit under the Enviromental Act 2000. The enivormental permit for ML 154 was approved on 29 December 2009 incorportating a Minining Feasibility PLan and proposal for development. Application to vary the approved proposal for development was lodged on 24 November 2017 after company meetings with MRA representatives. The application to vary condition 8 of he ML was subsequently approve by the Mining Minister on 18 January 2018 such that the mine must now be commissioned by 1 October 2019."

So pretty much we better be mining by Q4 2019 or we have to deal with PNG permitting again!

[GGGGG]

This company is really disappointing. They delayed the project to the 3rd quarter of 2019

I don't really view this as huge a delay. They were shooting for first ore by the end of Q1 2019, not full production. The PEA estimates production by Q3 2019, implying first ore will be eariler.

The more worrisome bit is from page 25 of the PEA

"The ML [mining lease] is granted with an associated enviromental permit under the Enviromental Act 2000. The enivormental permit for ML 154 was approved on 29 December 2009 incorportating a Minining Feasibility PLan and proposal for development. Application to vary the approved proposal for development was lodged on 24 November 2017 after company meetings with MRA representatives. The application to vary condition 8 of he ML was subsequently approve by the Mining Minister on 18 January 2018 such that the mine must now be commissioned by 1 October 2019."

So pretty much we better be mining by Q4 2019 or we have to deal with PNG permitting again!

[dema9049]

This company is really disappointing. They delayed the project to the 3rd quarter of 2019

I don't really view this as huge a delay. They were shooting for first ore by the end of Q1 2019, not full production. The PEA estimates production by Q3 2019, implying first ore will be eariler.

The more worrisome bit is from page 25 of the PEA

"The ML [mining lease] is granted with an associated enviromental permit under the Enviromental Act 2000. The enivormental permit for ML 154 was approved on 29 December 2009 incorportating a Minining Feasibility PLan and proposal for development. Application to vary the approved proposal for development was lodged on 24 November 2017 after company meetings with MRA representatives. The application to vary condition 8 of he ML was subsequently approve by the Mining Minister on 18 January 2018 such that the mine must now be commissioned by 1 October 2019."

So pretty much we better be mining by Q4 2019 or we have to deal with PNG permitting again!

I like this. This is added motivation for the company. To not make this deadline would be a huge disappointment for not only the company but the investors. You can bet that this deadline will trigger a serious call to action from all stakeholders.