Nautilus Minerals Releases Q3 Financial Results

Nautilus Minerals Inc. (the “Company” or “Nautilus”) announces the release of its unaudited consolidated Financial Statements for the third quarter ended September 30, 2013, together with Management’s Discussion and Analysis.

Q3 2013 Significant Events:

– Received a favorable decision on arbitration with the State of Papua New Guinea (the “State”)

– Advanced the Solwara 1 Project

– Completed a Nodule Exploration Program to the Clarion Clipperton Zone

– US$54.0 million in cash and cash equivalents as at September 30, 2013

Nautilus looks forward to bringing the Solwara 1 Project into production and will work with the State in order to move the Project forward in light of the arbitrator’s award” said Nautilus’ interim CEO, Mike Johnston. “Our immediate plan is to complete the build of the seafloor production equipment. The critical path for the project remains the vessel. Now that we have received the arbitration decision we are in a better position to select a shipyard and finalise the vessel financing structure.”

“We are also delighted with the recent completion of a successful exploration program to the Clarion Clipperton Zone which represents a key step for us in advancing Nautilus’ 100% owned subsidiary Tonga Offshore Mining Limited’s CCZ project. We look forward to reporting assay results and preliminary metallurgical testwork as these results become available over the next few months.”

Press Release, November 14, 2013


Share this article

Follow Subsea World News


<< Oct 2017 >>
25 26 27 28 29 30 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15
16 17 18 19 20 21 22
23 24 25 26 27 28 29
30 31 1 2 3 4 5


Black Sea region continues to impose as a key area for the future of energy in Europe in reaching the diversification of supply and the energy…

read more >


2-day seminar covering best practice and emerging technologies for cost-efficient subsea cable projects from conception to installation…

read more >

24th Annual Africa Oil Week 2017

The Conference portraying five days of senior-level executive insights, with rich-content on corporate strategies and portfolio, exposure…

read more >

OTC Brasil 2017

OTC Brasil is organized by the Offshore Technology Conference (OTC) and Brazilian Petroleum, Gas and Biofuels Institute (IBP)…

read more >