Nautilus Minerals: Mining the Sea floor

Ian Cassel Blog Leave a Comment

I posted this on our members forums over the weekend.  I remembered hearing about this company a couple years ago, but it sort of fell off the radar until recently.  It is quite a whacky micro cap.  Time will tell if it will be the next “big thing” in mining.

Nautilus Minerals ( or is a $450 million market cap company that is an emerging leader in underwater mining or mining the seafloor. When you look into the company and what they are trying to do, it just screams “Cool”. This is the way James Bond would mine for resources. Nautilus has been granted all necessary environmental and mining permits for its first development project, Solwara 1, which is located at a depth of 1600 meters in the territorial waters of Papua New Guinea. The company will use remote operating vehicles to dredge the sea floor while pumping the ore to a barge which will be shipped to land for processing. The Solwara 1 project has a total indicated resource of 1.03 million tonnes grading 7.3% Copper, 5.0 g/t Au, 23 g/t Ag, and 0.4% Zn. Average operating costs to the port of Rabaul are estimated at US $70 per tonne. Projected CapEx of the project is $383 million. The company currently has over $150 million in cash. To learn more about Nautilus Minerals,

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