|Article by David Shukman BBC science editor Renewables' deep-sea mining conundrum.
British scientists exploring an underwater mountain in the Atlantic Ocean have discovered a treasure trove of rare minerals...
Snippet of some of our equipment also.|
|Hello zangdook, yes it would be interesting - at the time I hadn't imagined very many folks at all. I like the gold/copper aspect and wanted to keep an interest in this unique and innovative project, long road understandably but the really interesting bit's not so far away now I guess.
It's good to know this thread is here, hadn't thought of even looking!|
|It's about time. I wonder how many people here put it in the bottom drawer when it delisted in London.|
|brushed up the website a bit, pictures added at least.
|Nice to see the dispute with PNG is now old news and the cash has been received. Since, IIRC, that dispute is what triggered the dramatic share price collapse, I wonder when we can look forward to a bit more recovery than we've seen so far.
|$365m over 5 years - they better dig up some gold to pay for this.
|...progress, I suppose
|h/t someone on stockhouse
|Q2 results announcement:
|Friends with PNG again:
|Progress in Tonga:
|Well, here's what happens:
Toronto Ontario, February 13, 2014 - Nautilus Minerals Inc. (TSX:NUS, OTCQX: NUSMF) (the "Company" or "Nautilus") announces that contrary to the arbitrator's award of 2 October 2013, the Independent State of Papua New Guinea has not completed the purchase of its 30% interest in the Solwara 1 Project.
In accordance with the State Equity Option Agreement signed by the parties in March 2011, Nautilus has terminated the Agreement and will now claim damages.
Nautilus continues to seek an amicable resolution of the dispute with the State.
The Company will hold an investor conference call and audio/webcast on Tuesday, 18 February, 2014 at 10.00 a.m. Eastern Standard Time.|
This may give some optimism wrt other companies - CHL, OXS - also dealing with arbitration in disputes with governments. I know it's irrational to suppose any read-across, but the stock market likes reasons to be irrational
It remains to be seen what happens when you say to the government of a poor country "Give us $118m in three weeks".|
|Not exactly a sigh of relief - I've only got a smallish punt, but it's a bit like a 20-1 outsider I've backed still running and closing into the finish...|
mad jack mcmad
|anyone else breathing a sigh of relief over today's news?|
|Hmm, looking good today. Still got a few.|
mad jack mcmad
June 12, 2013
Nautilus Announces Closing of Rights Offering
Toronto Ontario, June 12, 2013 - Nautilus Minerals Inc. (TSX: NUS, OTCQX: NUSMF) (the "Company" or "Nautilus") announces that it has received gross proceeds of C$40 million before expenses as a result of the successful closing of its rights offering through the issuance of 200,000,000 common shares at a subscription price of C$0.20 per common share.
Under the rights offering, 125,485,507 common shares were issued under the initial subscription with 25,136,966 common shares issued under the additional subscription. In total 150,622,473 common shares were subscribed for under the rights offering representing over 75% of the total shares on offer.
Mr Mike Johnston, Nautilus' CEO commented "it is very encouraging to see such a high level of support for the Company from its existing shareholders."
As previously announced, one of the Company's major shareholders, MB Holding Company LLC, through a wholly owned subsidiary, agreed to act as a Standby Purchaser in respect of the rights offering and purchased the remaining 49,377,527 common shares that were not otherwise subscribed for under the offering, in consideration for a fee of C$2 million.
The net proceeds from the offering will be used by the Company to continue funding its three key contracts related to the Seafloor Production System. The key contracts include the build of the Seafloor Production Tools by Soil Machine Dynamics Ltd, the supply of the Subsea Slurry Lift Pump by GE Hydril and the procurement of the rigid riser system by General Marine Contractors LLC. The Company believes that continuing with these key contracts will ensure the Company is in the best possible position to advance the Solwara 1 Project following resolution of the dispute with the State of PNG. To that end, the Company continues to meet with senior representatives of the State, including National Executive Council Ministers, with a view to amicably resolving the dispute as soon as possible.
The total number of issued and outstanding shares of the Company is now 436,772,865.
MB Holding Company LLC, directly and through its subsidiary Mawarid Offshore Mining Ltd, now owns 28.00% of the Company's shares, Metalloinvest owns 20.75% and Anglo American holds 5.95%.|
|Is anyone still here? Any thoughts on taking up the rights?
edit: there's some discussion on Stockhouse but unfortunately the standard of debate is pretty low even compared to advfn...
|April 15, 2013
Nautilus files final Prospectus for fully backstopped C$40M Rights Offering
not sure what 903 was?|
|Rights details are out:
April 15, 2013
Nautilus files final Prospectus for fully backstopped C$40M Rights Offering
NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
Toronto Ontario, April 15, 2013 - Nautilus Minerals Inc. (TSX: NUS, OTCQX: NUSMF) (the "Company" or "Nautilus") has today filed a final short form prospectus in each province of Canada, other than Quebec, in respect of its previously announced fully backstopped rights offering to raise gross proceeds of C$40,000,000 through the issuance of rights to subscribe for an aggregate of 200,000,000 common shares at a subscription price of C$0.20 per common share. The offering is being made to all eligible existing shareholders, as disclosed in the final prospectus.
One of the Company's major shareholders, MB Holding Company LLC, through a wholly owned subsidiary, will act as Standby Purchaser in respect of the full offering by purchasing all of the common shares that are not otherwise subscribed for by eligible existing shareholders under the offering, subject to certain conditions as disclosed in the Standby Purchase Agreement, which has been filed on SEDAR, in consideration for a fee of C$2 million.
Nautilus' CEO, Mike Johnston, commented, "We felt it was important that all eligible existing shareholders were provided with an opportunity to participate in the current offering and we are very pleased with the demonstration of support from MB to ensure the offering is a complete success which will enable the Company to be in the best possible position to advance the Solwara 1 Project following resolution of the dispute with the State of PNG."
The net proceeds from the offering will be used by the Company to continue funding its three key contracts related to its Seafloor Production System, intended to be used at the Company's Solwara 1 Project.
The offering is being made to the holders of Nautilus' common shares of record at the close of business (Vancouver time) on April 25, 2013. The rights available under the offering will be eligible for exercise from May 1, 2013 until 2:00 p.m. (Vancouver time) on May 31, 2013.
The Company will issue one right for each outstanding common share. Each right will be exercisable to acquire 0.844335 common shares of the Company, upon payment of the subscription price. Fractional shares will not be issued. To illustrate: a holder of 1,000 shares as of the record date would, subject to the laws of their jurisdiction, be issued 1,000 rights, which would entitle him or her to subscribe for 844 shares for a price of C$168.80 (844x$0.20).
The prospectus and a rights certificate will be mailed to each shareholder of record on April 25, 2013, subject to applicable law. The rights will be posted for trading on TSX (on a "when issued" basis), and the Company's common shares will commence trading on TSX on an ex-rights basis on April 23, 2013, and will continue until 9:00 a.m. (Vancouver time) on May 31, 2013.
The offering is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory approvals, including the acceptance of the Toronto Stock Exchange.|
|April 03, 2013
Nautilus Minerals General Investor Update
Toronto Ontario, April 3, 2013 - Nautilus Minerals Inc. (TSX: NUS, OTCQX: NUSMF) (the "Company" or "Nautilus") will hold a conference call and audio/webcast on Thursday, April 4, 2013 at 10.00 a.m. Eastern Daylight Time (3.00 p.m. London/BST).
Conference Call Details
Webcast link: http://www.media-server.com/m/p/79c92ifj
International Dial In: +61 2 8524 5042
Australia: 1800 801 825
Canada: 1855 842 3490
United Kingdom: 0800 0150 9725
United States of America: 1855 298 3404
Attendee Passcode: 8258835
If your country dial-in number is not included here please email firstname.lastname@example.org
A presentation to support the conference call will be posted on www.nautilusminerals.com for download by 9:30 a.m. EDT (Toronto) on Thursday, April 4, 2013.|