The Board of Directors of Nautilus Minerals Inc. (the “Company” or “Nautilus”), advises that management of the Company continues to seek detailed information respecting the bid that Michael Bailey discussed in his daily press releases last week.
Nautilus has been advised by representatives of the Company’s two largest shareholders, Metalloinvest, which holds an interest of 21% and MB Holding which holds an interest of 16.9% in the Company, that they have not been approached by Mr. Bailey concerning the offer announced in his January 7 press release.
Furthermore, given the unusual events to date, and the knowledge that a similar offer has been announced by Mr Bailey in the past, the Board of Directors is unable to make any determination regarding the validity of the offer.
The Board of Directors will consider the unsolicited offer, if and when it is formally made, and maintains its advice to shareholders not to take any action in respect of such offer until shareholders have received further communication from the Board.
In the meantime, the Nautilus management team remains focused on maximising shareholder value by delivering on the Company’s primary objective, being the development of the world’s first seafloor copper-gold project.
[mappress] Press Release, January 15, 2013