NAUTILUS MINERALS INC ORD by Nautilus Minerals Inc. Stock (OTC: NUSMF)

Latest News for NAUTILUS MINERALS INC ORD by Nautilus Minerals Inc. Stock (OTC:NUSMF)

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Nautilus Identifies Potential Delay to Vessel Build  

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Nautilus Announces Dispute With the State of PNG  

NAUTILUS MINERALS INC ORD by Nautilus Minerals Inc.

Nautilus Minerals (OTC: <a class="ticker" href="/stock/nusmf#OTC">NUSMF</a>) announces that there may be a delay in the finalisation of funding for the vessel to be used in connection with its Solwara 1 Project and a potential consequential delay to the program for the vessel build. In turn, this may result in a delay to the commencement of operations at Solwara 1. 

Nautilus and its strategic partner, Harren &amp; Partner, have been negotiating the terms of third party financing related to the production support vessel for its first development project, Solwara 1, in Papua New Guinea. The vessel is planned to be owned and operated by the joint venture company (Vessel JV) to be formed by the parties (see links section for full press release).

Nautilus Minerals (OTC: <a class="ticker" href="/stock/nusmf#OTC">NUSMF</a>) advises that it is in dispute with the Independent State of Papua New Guinea as to the parties' obligations to complete the Agreement entered into on 29 March 2011. Nautilus has initiated the dispute resolution process provided for in the Agreement, which may lead to a referral of the dispute to arbitration if it can not be resolved through further discussions amongst senior representatives of the parties over an initial 10 day period.

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Latest News for NAUTILUS MINERALS INC ORD by Nautilus Minerals Inc. Stock (OTC:NUSMF)

Tuesday, March 24, 2020

Friday, June 01, 2012