Nautilus Minerals Inc NUSMF

Metals & Mining Industrial Metals & Minerals

Nautilus Minerals Inc is a Canada-based company engaged in the exploration and development of the ocean floor for copper and gold-rich seafloor massive sulfide deposits and for manganese, nickel, copper, and cobalt nodule deposits. Its primary segment is Mineral Property Exploration in Australasia. The exploration activity involves the search for deep-water copper and gold-rich seafloor massive sulfides in the western Pacific Ocean and nodule deposits in the eastern Pacific Ocean. Its principal project is the Solwara 1 Project in Papua New Guinea (PNG) in the Bismarck Sea.

GREY:NUSMF - Post by User

Nautilus Minerals Inc

Bullboard Posts

Post by SurfForWealthon Dec 06, 2006 6:44am

900 Views

Post# 11813627

Teck Cominco!

Wow, this could be fantastic news! I own Teck & NUS. Teck said set to put millions into Nautilus ANDY HOFFMAN 00:00 EST Wednesday, Dec 06, 2006 Teck Cominco Ltd. is set to invest as much as $50-million in Nautilus Minerals Inc., a company that explores for gold and copper deep beneath the ocean floor, according to a source familiar with the matter. The investment by Vancouver-based Teck is expected to be made by way of a private placement of Nautilus shares, which trade on the TSX Venture Exchange. The source cautioned that the agreement between Teck and Nautilus had not been finalized and that negotiations could fall apart. Nautilus shares have not traded since Dec. 1, when they were halted pending news. Teck is not the first mining company to invest in Nautilus, which has a licence to drill for minerals off the coast of Papua New Guinea. Barrick Gold Corp. owns a 9.9-per-cent stake in the Vancouver company, which has a market capitalization of $215-million. In October, Anglo American PLC invested $25-million (U.S.) in Nautilus as part of a $68.5-million financing. © Copyright The Globe and Mail

Bullboard Posts

How a junior advances one of the largest undeveloped diamond projects