Nautilus Minerals NUSMF (NUSMF)

[Getitgogone]

Nautilus Minerals Provides Update

I was afraid of something like this.... some of the wording is pretty scary and I am not trying to scare anyone or get the stock cheaper etc. It's just that when a company starts talking about "engaging financial advisors and restructurings" it could turn into a Bankruptcy .... hence the drop in price this morning;Doesn't instill confidence for investors;In addition to fault of management here they have screwed the shareholders over more than once with dilution,some might say mismanaged because they could have secured a LOT more $ to get to the end result of first ore here when the stock was at 3.00 ,2.00 a share .... they have been azz raping shareholders since BEFORE the last round of financing.It's not completely hopeless but it is not looking good and happy with my own decision to stay out of the stock until they did secure financing,I was very fearful ... now this? Really?

Another thought due to the nature of this being the "FIRST" deep sea mining operation , the environmentalists , and other "entities" is this an intentional delay for some other unknown reason??? Now beginning to wonder if they aren't going to clean house of debt and all shareholders ... sell everything to some big mining company on the cheap and flush everyone here down the toilet.

Not much chatter on the shareholdersunite forum .... Frankly I don't use that site I prefer here over that one and have always wondered why more people don't post here but that is another subject!!

Good luck peeps!!! They are doing it again!! It really ticks me off to and I currently don't even own it so I feel for those that are in ... I've wanted to buy and hold and was worried about not getting in ... in time to catch what might have been a nice wave forward but alas my cautionary gut instincts seem to have paid off for me in not losing on this but still their is a glimmer of hope for the future but it is getting worse and worse as time goes by.

Stock was over .10 still when I started writing now under .09 ... won't be surprised if it trades at a nickel or less now ... a true penny stock this has become!!!

TORONTO, ONTARIO, Jun 29, 2016 (Marketwired via COMTEX) -- TORONTO, ONTARIO--(Marketwired - Jun 29, 2016) - Nautilus Minerals Inc. (NUS)(otcqx:NUSMF) (the "Company" or "Nautilus") announces that, further to the Company's news release dated April 8, 2016, the Company continues to seek and consider various alternative sources of financing in order to maintain the development of the Solwara 1 Project and the Company's operations.

As previously disclosed, the Company requires significant additional funding in order to complete the build and deployment of the seafloor production system to be utilized at the Solwara 1 Project by the Company and its joint venture partner (as to 15%), the Independent State of Papua New Guinea's nominee.

In view of the Company's funding requirements, the Company and its operating subsidiaries are currently exploring alternatives for delaying project spending and securing immediate bridge financing to facilitate the time required to secure the significant additional project funding that is needed and/or to explore alternative transactions aimed at maximizing shareholder value. Any such bridge financing may include a loan facility provided by a major shareholder of the Company on commercial terms for such a facility with security over certain of the Company's assets.


There can be no assurances that the Company will be able to obtain the necessary bridge financing or project financing on acceptable terms or at all. Failure to secure bridge financing and/or project financing may result in the Company taking various steps aimed at maximizing shareholder value, including suspending or terminating the development of the seafloor production system and the Solwara 1 Project, and engaging in various transactions including, without limitation, asset sales, joint ventures and capital restructurings. The Company's independent directors will be looking to engage a financial advisor to assist them in this process.

There can be no assurances that any transaction will result from these matters and the Company will provide updates as circumstances warrant. Any transaction(s) will be subject to all necessary stock exchange and, if applicable, shareholder approvals as well as compliance with all other regulatory requirements.

The Company previously disclosed that the construction and development of the entire seafloor production system for initial deployment and testing operations at the Solwara 1 Project, was scheduled to occur during the first quarter of 2018 based on the Company's project timetable and subject to securing additional project funding. However, since, as indicated above, the necessary additional project funding has not been secured, the Company now believes that, in the event that the required funding is secured and the Company is able to continue development of the Solwara 1 Project, the schedule would be delayed but the Company is unable to determine the extent of the delay at this time. The Company will provide updates as circumstances warrant.

For more information please refer to www.nautilusminerals.com.


http://www.marketwatch.com/story/nautilus-minerals-provides-update-2016-06-29?d=nbst