I don't own these shares but I am really scared about what's happening with this stock.

****************************

Nautilus Minerals Inc, which hopes to develop the world's first underwater copper-gold mine off Papua New Guinea, said it has had no contact with a little-known investor who announced a hostile C$238 million ($241 million) takeover bid for the company but would consider a formal offer.

Michael Bailey plans to offer 97 Canadian cents per share for Nautilus, according to a statement released by boutique financial advisory firm Gannibal Securities on Monday.()

The offer, which helped push up Nautilus's stock price by 25 percent, represents a premium of 67 percent to Nautilus's closing stock price of 58 cents on Monday.

The statement did not say how Bailey would fund the bid.

Nautilus said on Tuesday it became aware of the offer only through the statement from Gannibal, which said it was advising Bailey, and could not make any determinations about its validity.

The statement described Bailey as an experienced Canadian investor and algorithmic trader who is a former member of a high frequency proprietary traders group called the Band of Scoundrels that earned $130 million by successfully shorting Citigroup Inc in October 2008.

Gannibal, whose homepage has a link to Bailey's Twitter account, could not immediately be reached for comment. ()

********************************

Read the bulletin bord on stockhouse here: http://www.stockhouse.com/companies/bullboards/threaded/t.nus?s=nus&sv=2&t=list&f=1&l=25&c=0&r=0

This story is devastating regarding the Toronto Stock Exchange. This is becoming more dangerous to invest in this un-regulated market day after day. TSX is a joke. HF trading is making 90% of the volume now. They have refused to act, they have lost all the retail investors. I won't never invest in Canada myself, because I don't trust any of the market operators there. Good canadians companies are loosing big money by allowing these crooks running this market.