Nautilus Minerals AGM to be held June 16, 2015

[seabedmining]

Is anybody from the board in Toronto?

http://www.nautilusminerals.com/s/Media-...tID=708281

[seabedmining]

excellent report:

http://www.nautilusminerals.com/i/pdf/Na...mplete.pdf

[maui4marko]

excellent report:

http://www.nautilusminerals.com/i/pdf/Na...mplete.pdf

thanks sbd, agreed that this is an excellent report.  I might go out on a limb and say "best ever".

Was glad to see Nautilus is now again looking ahead past Sol1 and resurrecting work on the next PNG location, Sol 12, as next up in the pipleline of projects.

As an asided, did anyone catch the picture of the 23 attendees of the Marine Science Short Course?  Our blogger buddy from Tonga is in it, one of the 3 non-PNG students in attendance.

[maui4marko]

Is anybody from the board in Toronto?

http://www.nautilusminerals.com/s/Media-...tID=708281

Monk, you're one of our braddahs up north - I nominate you to represent this board at the AGM.

[Monk3]

Sure, if I can make it. Let's get the list of questions going. After that report I am having trouble thinking of any. Other than "How are you going to raise the funds required to take us to first ore?" They danced around this last conference call. I imagine they will dance around it again until they actually make the final decision. This seems to be NUS's M.O. but maybe it is required for dealings in PNG. I for one am not happy about them continuing the exploration project without having financing in place to see the project to prosperity. I know it makes good business sense to continue to explore but they have MASSIVE granted tenements already. Ones that need to come online and get proof of concept. Wouldn't it be ridiculous if they had to dilute again or couldn't finance the project to completion because of exploration costs made in the three years waiting to build the PSV? Can some one with better accounting skills explain this to me: "Long-term liabilities Long-term liabilities increased to $65.1 million (2013 - $10.7 million) with recognition of the liability for the project partner contribution of $60.2 million, being the non-current unearned amount of the State’s equity contribution for the Solwara 1 JV."?

Detlef would be more awake than me for the 7am call, isn't that 2 or 3 in the afternoon for you?

[steelrat]

Could it be that they continue exploration, because they already know that when the time comes, money will be made available. I always have the feeling that there are wealthy investors watching who have already signaled their willingness to jump in when the time comes. I furthermore think that PNG will take the opportunity to increase their shares.

[maui4marko]

Sure, if I can make it. Let's get the list of questions going. After that report I am having trouble thinking of any. Other than "How are you going to raise the funds required to take us to first ore?"

Here's the starter list (from here, here):

• Government 5/5/5 options - target 1st 5% traunch by June 11; impacts OPEX & CAPEX
• Funding amount & method - CAPEX figure by June 30
• Wet testing SPTs - to start 1H, location(s) identified yet?
• De-watering integration opportunity in China (possible positive CAPEX impact)
• Negotiations with Tongling - target agreements by June 30; impact to OPEX & CAPEX (i.e. smelter, etc)
• Asia partnership opportunities
• Exploration - Solomons, possibly Vanuatu commenced May; what's next in PNG?
• Others?

[seabedmining]

target for next 5% is 11. of June - 5 days before the AGM

btw. when they don't take these 5% and come next year to NUS and say: we will give you another 120 million for the other 15% - i don't think NUS will say no...