Nautilus Minerals NUSMF (NUSMF)

[kentonmag1]

The financial results announced today....The most positive comment is in the very last sentence. The project completion is still set for Q1 2019.

•Received US$4 million through the US$20 million bridge financing facility provided by the Company's two largest shareholders.
•Announced the arrival of the Seafloor Production Tools (SPTs) in PNG.
•Announced the arrival of the LARS and ancillary equipment to the Mawei shipyard in China.
•US$19.5 million in cash and cash equivalents as at March 31, 2017.

Mike Johnston, Nautilus' CEO, commented, "It was very pleasing to see the SPTs arrive in PNG where they will undergo submerged trials in the coming months. We now remain focused on the build of the Production Support Vessel and the integration of the rest of the equipment on it. Subject to further financing, we remain on schedule to develop the world's first commercial high grade seafloor copper-gold mine at the Solwara 1 project site in Q1 2019*."