Nautilus Appoints Chief Operating Officer
February 22 2018 - 06:00AM
Nautilus Minerals Inc. (TSX:NUS)
(OTC:NUSMF) (the
"Company" or
"Nautilus") is pleased to advise it has appointed
Mr Wayne Knott to the role of Chief Operating Officer (“COO”),
commencing March 19, 2018, as it moves towards starting its first
seafloor mining operations in Papua New Guinea in 2019.*
Mr Knott is a metallurgist with over 30 years of
mining industry experience, with particular expertise in dredging,
operational start-ups and reviews. Wayne previously worked for
Nautilus Minerals as Operations Manager during 2010 to 2012, where
he was responsible for defining the Company’s original operational
readiness plan, as well as providing significant input into the
design and scope of the current production system. His immediate
past role was Operational Readiness Specialist for Hatch, with
clients that included BHP, BMA, and Teck Resources. Mr Knott is MBA
qualified with a bachelor’s degree equivalent in Extraction
Metallurgy.
Mike Johnston, Nautilus’ CEO, commented: “We are
delighted to have Wayne back leading our project team. Wayne’s
expertise in operational start-ups, their design and
implementation, combined with his intimate knowledge of our
production system, will be invaluable to us as we continue to
advance towards completing the build and integration of our system,
and launch the seafloor resource production industry.”
*Subject to finance being raised.
For more information please refer to Mr Knott’s
bio on our website at www.nautilusminerals.com or contact:
Investor Relations Nautilus Minerals Inc. (Toronto) Email:
investor@nautilusminerals.com Tel: +1 416 551 1100
The TSX does not accept responsibility
for the adequacy or accuracy of this press release.
Certain of the statements made in this news
release contain forward-looking information within the meaning of
applicable securities laws, including statements with respect to
starting seafloor mining operations in 2019 and launching the
seafloor resource production industry. We have made numerous
assumptions about such statements; including assumptions relating
to the Company’s funding requirements, project funding, and
completion and operation of the Company's seafloor production
system. Even though our management believes the assumptions made
and the expectations represented by such statements are reasonable,
there can be no assurance that they will prove to be accurate.
Forward-looking information by its
nature involves known and unknown
risks, uncertainties and other factors
which may cause the actual results to be materially different from
any future results expressed or implied by such
forward-looking information. Please refer to our most
recently filed Annual Information Form in respect of material
assumptions and risks related to the prospects of extracting
minerals from the seafloor and other risks relating to the
Company's business and plans for development of the Solwara 1
Project. Risks related to continuing the Company's operations and
advancing the development of the Solwara 1 Project towards mining
operations in 2019 include the risk that the Company will be unable
to obtain at all or on acceptable terms, and within the timeframes
required, the remaining financings necessary to fund completion of
the build, testing and deployment of the Company's seafloor
production system, that the Company will be unable to rectify or
arrange for the rectification of the default under the shipbuilding
contract for the construction of the Production Support Vehicle (as
announced on 11 December 2017) and that agreements with third party
contractors for building slots within certain timeframes are not
secured as required. As the Company has not completed an economic
study in respect of the Solwara 1 Project, there can be no
assurance that the Company's production plans will, if fully funded
and implemented, successfully demonstrate that seafloor resource
production is commercially viable. Except as required by law, we do
not expect to update forward-looking statements and information as
conditions change and you are referred to the full discussion of
the Company's business contained in the Company's reports filed
with the securities regulatory authorities in Canada.
About Nautilus Minerals Inc.
Nautilus is the first company to explore the ocean floor for
polymetallic seafloor massive sulphide deposits. Nautilus was
granted the first mining lease for such deposits at the prospect
known as Solwara 1, in the territorial waters of Papua New Guinea,
where it is aiming to produce copper, gold and silver. The Company
has also been granted its environmental permit for this site.
Nautilus also holds highly prospective exploration acreage in the
western Pacific (granted and under application), as well as in
international waters in the Central Pacific. A Canadian registered
company, Nautilus is listed on the TSX:NUS stock exchange and is
also a member of the Nasdaq International Designation program. Its
corporate office is in Brisbane, Australia. Its major shareholders
include MB Holding Company LLC, an Oman based group with interests
in mining, oil & gas, which holds a 29.3% interest and
Metalloinvest, the largest iron ore producer in Europe and the CIS,
which has a 18.5% holding (each on a non-diluted basis, excluding
loan shares outstanding under the Company’s share loan plan).