Sunken Treasure: A Mining Stock for the Bold

Call it deserved skepticism. Call it an imaginative failure. But markets do not yet seem to have taken a full account of the fact that Nautilus has weathered the sociopolitical storm that killed its stock price. Yes, the company is still in the embryonic stages of its project, so it’s hard to make analytical statements about its performance. That said, it has shown grit and resourcefulness in the face of adversity, and it has not lost the confidence of its major shareholders. And don’t forget that a success at Solwara-1 is a success that opens the door to a brave new (undersea) world. For those willing to take a risk on a bloodied-but-unbowed innovator, Nautilus looks attractive. We suspect that Jules Verne’s Nemo, a proud champion of underdogs, would approve.