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Quick Reply from NUS on Trading Halt
#1
This is almost the reply I quickly received from NUS investor relations today.  Hello new person Noreen!  How DARE she mention information on a potential deal/partner they are working with!!  This goes against everything NUS holds dear! So, China... COME ON DOWN! You are the next contestant on The Price is $350million!  I wonder how much the CCZ treasure maps are worth.  Any mining experts out there have any ballpark idea?  KKF?

Hi  Phil,

Thank you for your email below.
 
I am sure you have seen that we are going through a CCAA process at present (http://www.nautilusminerals.com/irm/PDF/...anfacility).
 
The question of if, and when, Nautilus will be back trading will depend on the outcome and timing of the CCAA process.  For example, if we are successful in entering into a joint venture transaction with our potential counterparty in China (as discussed in the court petition), we could be back trading before the scheduled end of the CCAA process, which is late June.  If we sell one or the other of our business units (again, as discussed in the petition) we could continue on as a public company after June focussed on the remaining business unit. However, there is no assurance that either of these scenarios will materialise.  We cannot say for certain that our shares will resume trading.
 
For any updates on the CCAA proceedings, please refer to the website of the Company’s monitor appointed under the Initial Order, PricewaterhouseCoopers Inc.: www.pwc.com/ca/nautilus-minerals
 
Kind regards
Noreen
 
 
Noreen Dillane
Corporate Communications Manager
 
Nautilus Minerals
……………………………………………
t:       +61 7 3318 5555
f:       +61 7 3318 5500
e:      nmd@nautilusminerals.com
w:     www.nautilusminerals.com
w:     www.cares.nautilusminerals.com
 
Level 3 / 33 Park Road / Milton / Queensland 4064 / Australia
PO Box 1213 / Milton / Queensland 4064 / Australia

Hello,
 
I own a large number of NUS shares and do not understand why the company continues to be halted.  It was halted pending news, the restructuring news came out but it has been a month and the shares are still halted.  Why has trading not been resumed?  What situation will have to occur for the shares to begin trading again?  Is there a hard date for resumption that has been worked out with IIROC or BCSEC?
 
Thank you for any information you can provide on when and under what circumstances the company will begin to trade again.

Sincerely,

Phillip McKrackin
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#2
Surprised you received a response after using a name like that Wink

Overall answer seems typical. They have some fires going and only time will tell which one (if any) turn into something substantial.
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#3
Thank you for the report.
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