A good cornerstone investor.Mawarid clearly see underwater...

A good cornerstone investor.
Mawarid clearly see underwater exploration as the future.
Note the $49M dollar in Nautilus. See below.
Will Mawarid fund Sandpiper in full?
These guys have made Drummond et Al look like idiots.
I don't hold UCL.



Mawarid Mining becomes 3rd largest investor in Nautilus Minerals inc. (9th September, 2011)

Mawarid Mining will make an investment of C$ 49 million to purchase 19.44 million shares, at a price of C$ 2.52 per share, equivalent to 9.98% of the increased share capital of the company. Nautilus Minerals is raising approx. US$100 million through a private placement of common shares by issuing 39 million shares to a number of investors at a price of C$2.52 per share. Under the terms of the agreements, the allotment will be completed in two tranches, with the final closing taking place on October 6, 2011. The first closing took place on September 8, 2011, wherein Mawarid subscribed 50% of its total shares and the remaining 50% shares will be allotted on final closing. The shares have been acquired through a SPV which is a 100% subsidiary of Mawarid Mining.

A company registered in Canada, Nautilus is listed on the TSX and AIM stock exchanges and has its corporate office in Brisbane, Australia. Nautilus is the first company to explore the ocean floor for polymetallic seafloor massive sulphide deposits and is currently developing its first development project at Solwara 1, in the territorial waters of Papua New Guinea, where the company is aiming to produce gold, copper and silver. The company has been granted all necessary environmental and mining permits.Nautilus is intending to commence operations at the Solwara 1 deposit by end 2013, where it has identified certain high grade resource. Funds raised through this private placement will be utilised to fund the development of Solwara 1 project.

The company also holds approximately 600,000 square kilometers of highly prospective exploration acreage in the western Pacific, in PNG, the Solomon Islands, Fiji, Vanuatu and Tonga, as well as in international waters in the eastern Pacific. Its major shareholders include Metalloinvest, the largest commercial iron ore producer in Europe and the CIS, which has a 21% holding, and global mining group Anglo American, which holds an 11.1% interest. More details about Nautilus are available on its website www.nautilusminerals.com