This is purely an exercise for me on how people would rate this stock.
I would like to hear what people who have been around a while would do or rate this info.
This is a new company that uses ROV's (Remotely operated vehichles) To mine the sea floor for prescious metals and the likes. Im interested in it as it's supposedly a new method of extracting materials.
I believe there intention is to design subsea crushers then pump the raw materials to the surface.
Here is a press release.
Nautilus Commences 2010 Drilling Program
TORONTO, ONTARIO, Nov. 1, 2010 (Marketwire) -- Nautilus Minerals Inc. (TSX:NUS)(AIM:NUS) (the "Company" or "Nautilus") is pleased to announce the commencement of its 2010 drilling program, with the departure of the vessel REM Etive from Singapore, bound for the Company's Solwara Projects in the territorial waters of Papua New Guinea.
The 2010 drilling program will focus on improving the resource and geotechnical understanding at Solwara 1, as well as scout drilling at other prospects on the Company's 100% owned tenements in the Bismarck Sea, Papua New Guinea. TSMarine will provide the vessel; operating crew, remotely operated vehicles (ROVs) and drilling equipment required for the project. The ROVdrill3 drilling system to be used is a second generation seafloor drilling system, with the design ability to wireline diamond drill 70mm diameter core to a hole depth of up to 80 metres.
Nautilus' CEO, Steve Rogers, commented: "The ROVdrill3 gives Nautilus the capability to further test the resource potential of our Seafloor Massive Sulphide systems in the Bismarck Sea. The drilling equipment will also collect geotechnical data that is expected to allow us to further optimise equipment design and extend the production plan at Solwara 1."
Figure 1: http://www.nautilusminerals.com/i/mi...ra1Terrain.jpg
Figure 2: www.nautilusminerals.com/i/misc/REM Etive labelled.jpg
About Nautilus Minerals Inc.
Nautilus is the first company to commercially explore the ocean floor for polymetallic seafloor massive sulphide deposits and is currently developing its first project. The Company's main focus is the Solwara 1 Project, which is located in the territorial waters of Papua New Guinea in the western Pacific Ocean. Nautilus is listed on the TSX and AIM stock exchanges, and has among its largest shareholders two of the world's leading international resource companies Anglo American (11.1%) and Teck Resources (6.8%), as well as Metalloinvest, one of the largest and fastest growing mining and metallurgical holding companies in Russia, which beneficially owns 21.0% of the Company's issued shares through Gazmetall Holding (Cyprus) Limited.
The company appears to be new but i dont know how to tell if it has good management. A good busines model or anything else. I see its stock price went up in Nov then has steadily gone down.
If this post is out of line with rumours or anything else please delete it?