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Surprised were trading here ... Once escrow is release they will have almost their market cap in cash
Despite anything that might be perceived as negative that I've said in my last few posts.I do think that the price will rise and I don't think it will take months either.I also think a deal for ship build/lease/charter ....whatever,will take place very soon and not require a long stretch of time,just as the PNG 113 million payment went into escrow faster than people were expecting.
I also think PNG is on board to stay and MGMT. of NUS just needs to keep stepping forward.I think the leeriness of the market will shore itself up in a short period of time.Once people realize the stock isn't going back to .20 ....ever....they will start feeling more comfortable with getting in and holding for higher gains.
Management does need to repair confidence with shareholders and as always part of owning any stock ,although it shouldn't be part of the equation,hope springs eternal.We're rising from the ashes here and I think the selling is currently over done and we should now be at minimum around .75,that's at a minimum,over a 1.00 would make even more sense.You just can't blame people for being slightly gun-shy.
I wouldn't necessarily think those shares were being sold right now either.You have to read and understand who was offered the shares and who owns them.....there have been a few discussions on it and I'd probably just put my foot in my mouth if I started rambling on about it.I think the reason it hasn't gone higher from Friday ...yet.....is people are gunshy...just not willing to pay more to sustain a higher price.
After all the share price is always what peeps are willing to pay for a stock at any point in time,no matter how many shares there are,what are they willing to pay? Some were willing to pay .70 a few weeks ago,just not enough to continue the trend and bring it higher even with Fridays news.They are leery of mgmt. abilities in my opinion.They want to know that they aren't gonna get diluted further if they start paying higher prices for it.
Those extra shares at .20 are the shares that may have been sold lately into the rally? After all sometimes the folks that get those dump when ever they need to or see profit! Doubled the money in a year! not bad I guess. Hard to figure out what some companies think when they dump and use the shareholders to support everything? Hold and wait now for me! I think the pps will move up slowly once more people hear the positive news. Only my opinion
I'm somewhat convinced for many reasons that it should be over a 1.00 a share now.I was and am very disappointed that it didn't move over 1.00 with the news Friday (113 million put into escrow by PNG)Thought that was the clincher to put us back over.
Here's where I think the problem is and how it will be solved but keep in mind I could be wrong;I think that people are a little wary,a little gun shy about NUSMF.I already attempted to make a 3 paragraph post about this on "that other message board" and to my dismay it didn't post and disappeared into Yho hell.I'm sick of that "other board" and will only use it for short posts in the future but that is another story.
The reasons they are a little wary about NUSMF and I'm gonna shoot from the hip here.....Management has lost the trust of shareholders to maintain the share price because of the 200 million share dilution that occurred MARCH 28TH ,2013,over a year ago.
Toronto Ontario, March 28, 2013 - Nautilus Minerals Inc. (TSX: NUS, OTCQX: NUSMF) (the "Company" or "Nautilus") has today filed a preliminary short form prospectus within each province of Canada, other than Quebec, in respect of a 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.
see link >>>>>
http://www.nautilusminerals.com/s/Media-NewsReleases.asp?ReportID=578276&_Type=News-Releases&_Title=Nautilus-Minerals-Files-Preliminary-Prospectus-for-C40M-Rights-Offering
It is my opinion that when they did this at such a low Price they did a great disservice to shareholders and in fact it was an ignorant move that could have been avoided months earlier.Through their own stupidity or ignorance or lack of attention to details they screwed a lot of shareholders and could have avoided it if they had only had a little more foresight.
Wouldn't it have been much better if they had issued 20 million shares at 2.00 a share instead of 200 million shares at .20 cents a share? They could have even had enough foresight to issue 26.6 million shares at 1.50 or 40 million shares at a 1.00...........200 million shares at .20 ??? An absolute idiot move.
Now people are saying to the company,"you're gonna have to prove yourself before I hold this stock" they are flipping out of it on every move up.They have lost confidence in the mgmt. to protect and preserve share price by their ignorance last year when they issued those shares to help the company survive.People are wondering if they will now do it again for the ship build,if they are going to require more money and go to the market at low prices again.
To me that is the only reason the share price isn't over a 1.00 right now.Mgmt. needs to do more to prove that they won't screw shareholders over even more.I wish there were another reason but that to me is the elephant in the room.I am willing to give them a chance but even I now wish I had sold all my shares Friday and bought back in today.I could have increased my share by at least 10% if not more.
How the dilemma will be solved is easy ,cut a deal for the ship build by partnering with someone or some other way that doesn't cause dilution to current shareholders.Rebuild the confidence in mgmt.through their own actions.They've made a good start but people aren't convinced.
Locked and loaded, I guess this may take a few months or weeks to start heading higher again? Should get interesting eventually.
Mining Equity Agreement filed on SEDAR
Sensitive information has been blacked out
The DEED was made on April 24th,2014
http://sedar.com/CheckCode.do;jsessionid=0000L92vhxvCFEz29fSgkvVtYms:188setvlh
Good luck trueblue hope it works out for everyone!!!
Well after some time I took a small stake back into nusmf! Loading the boat at .20 or so would have been smarter, oh well. Looking forward to a new type of mining company!! If the government has the possibility of owning 30% stake I would think the pps will climb! Since it means a lot less shares for regular investors in my opinion.
MasterBidder, this article date 25 FEB ,2013 gives a little more color to the IP rights that are part of the next phase being completed I.E. getting the Escrow money.This was a discussion over a year ago so most likely any deals discussed then have been tweaked by both parties.
Nautilus CEO opens up on PNG dispute
Nautilus Minerals has concluded quasi-secret negotiations with project partners over intellectual property rights in the hopes of resolving what has emerged as a major point of contention for the Papua New Guinea government in a broader dispute over the Solwara 1 underwater mining project and the state's 30 percent equity interest in it.
Speaking in a conference call on Thursday, Michael Johnston, Nautilus president and CEO, said that Nautilus has been willing to provide Papua New Guinea ownership of intellectual property rights. But the problem, as Johnston told it, was that many of the deeds covering proprietary technology and subsea mining methods, which Nautilus and several partners developed over the years, did not contain clauses allowing for a third party, such as the Papua New Guinea government, to come on board as an additional partner and owner of the intellectual property rights.
Thus, Johnston described sensitive negotiations over the past few months in which Nautilus had to go to its partners, “household names” in the dredging business he gave as examples, to convince them to redraw the deeds to allow the Papua New Guinea government to gain direct 30-percent ownership of the intellectual property rights.
Now, Johnston said, Nautilus has redrawn the deeds with its partners and delivered the new terms to the Papua New Guinea government. Johnston said he had hoped to hear back from the government last week on its view of the new deeds, but that Nautilus has yet to be contacted by Papua New Guinea officials.
Nonetheless, Johnston, who said he had just returned from a trip to Papua New Guinea on the morning of the conference call, stated that he has high hopes about an overall resolution to the dispute. "We had a number of very good meetings with senior politicians and I'm quite confident that we will get resolution to this dispute in the not too distant future."
Apology to investors
While not a secret, hitherto Nautilus had not publicly explained in any great depth the importance of the intellectual property rights issue to the Papua New Guinea government. Thus, responding to a question from a private investor, Johnston was apologetic in describing why Nautilus had needed, in his view, to be tight-lipped about negotiations with its technology partners.
“It’s always very hard,” Johnston said. “When we’re negotiating with the other third parties involved on the IP (intellectual property) you can imagine it’s very difficult for us having conference calls, update calls like this. If I was to tell people that that particular piece of IP is quite critical to us closing this agreement, you can imagine someone’s ears would prick up.
“I apologize if we’ve come across as being a little secretive, if you like...but it has been commercially difficult for us to be able to tell people exactly what was going on with that IP.
“But now...we believe those deeds are sorted out and we’re now quite open about what those issues were. And, as I said, it goes right back to those design challenges that we had in the very early stages to develop and come up with the best system for seafloor mining. And, unfortunately, during that process we didn’t think at the time we would require another party’s name on the deeds.”
By getting rights to the subsea mining technology, the Papua New Guinea government will be allowed to use the same methods as Nautilus intends to employ at Solwara 1 on its own non-Nautilus projects. This fact raised the question of whether Papua New Guinea could then go and license the technology to potential competitors (assuming Papua New Guinea consents to the new deeds).
In response, Johnston said, the terms of the renegotiated deeds required approval from Nautilus and its partners were such a situation to arise. Further, Johnston noted that as part of the redrawn deeds, were the Papua New Guinea government to employ the technology on its own or through an approved partner Nautilus would get royalty payments from any other mining project.
30 percent participating interest
There also remains the issue of an outstanding bill of roughly $80 million that Nautilus maintains the Papua New Guinea government owes it for work on the Solwara 1 project.
Last year, as the dispute between Nautilus and the Papua New Guinea government escalated, the parties initiated a dispute resolution mechanism for arbitration on the matter, with the Papua New Guinea government alleging Nautilus had not met contractual obligations.
Johnston said a hearing date would be made in mid April, at which point there could be final resolution on the outstanding bill - a key reason why Nautilus has put the Solwara project on hold.
While Johnston would not comment on the matter, some participants on the conference call wondered if the resolution on intellectual property rights - not in the bag yet but seemingly closer than ever - might expedite an ultimate solution.
On this Johnston would only say that the arbitration process is “firmly underway in parallel with discussions, without prejudice, with the state."
Takeover, financing
Meantime, Johnston threw cold water on the takeover and financing proposals made by Ottawa businessmen Michael Bailey in early January that, as covered in these pages, contained numerous discrepancies. (See: Discrepancies, denials in C$238m hostile bid for Nautilus Minerals and “Ottawa businessman shifts tactic from takeover to financing in Nautilus bid.”)
“No formal bid was ever received by Nautilus during this process,” Johnston said. “None of our major shareholders were ever contacted. And then on the 15th of January Mr. Bailey proposed an equity line finance facility. On reviewing those terms it was obvious that they did not comply with TSX or Canadian corporate laws. And the takeover just quietly seems to have gone away.”
But that quiet may soon be broken. Bailey said in an interview Thursday that it was news to him that Nautilus had rejected the financing proposal, which he argued was in the best interest of Nautilus shareholders. He also maintained that, as previously stated in a press release, he intended to go ahead with a takeover, which he has previously claimed is fully funded by unnamed sources, if Nautilus did not agree to the equity line financing for $80 million.
"The whole situation is exactly how it reads in the news,” Bailey said. “If they don't proceed with the financing then we're going to proceed with the takeover.”
He then said, “We're in discussions with them about the financing."
Such discussions were not recent according to Nautilus chief financial officer Shontel Norgate. Norgate said in an email on Friday that “We have had no communication with Mr. Bailey since mid January.”
http://www.miningaustralia.com.au/features/nautilus-ceo-opens-up-on-png-dispute
Nautilus Minerals *******
Investor Update Nautilus PDF dated APRIL 29TH,2014
Highlighting the future events in this PDF file.
Future events,as they always do, will drive the price of the stock.
- Option to take up to a further
15% interest within 12
months of the Agreement
becoming unconditional
//////////////////////////////////////////////////
Funds will be released to Nautilus within 6 months of being placed in escrow if Nautilus secures:
– the charter of a vessel
– certain intellectual property rights for the State with its existing contractors
- A joint venture between the parties for the ongoing operation of the Project shall then be formed
- Petromin PNG Holdings Limited (“Petromin”) shall be the
company securing the funding on behalf of the State
- If the conditions of the Agreement are satisfied the Arbitration concerning Nautilus’ claim for damages related to the termination of the State Equity Option Agreement dated 29 March 2011, shall be dismissed
//////////////////////////////////////////////////
– Assembly work on the Auxiliary Cutter and Collecting Machine is due to commence in June 2014
– Riser system: >50% complete. Delivery expected by Q1 2015
– Pump: full scale loop testing to commence Q2 2014 with delivery expected by mid 2016
//////////////////////////////////////////////////
Vessel – remains the critical path for the Project
– Looking at securing a suitable vessel arrangement
– In discussions with potential vessel building partners
– Tender process currently underway with shipyards experienced in
building offshore construction vessels
– Vessel solution to be in place before end Q4 2014
//////////////////////////////////////////////////
Auxiliary Cutter chassis and Collecting
Machine chassisto arrive at SMD
facility to commence assembly June 2014
Factory Acceptance Testing on Bulk
Cutter July 2014
Vessel solution in place By end Q4 2014
Updated project capex and schedule By end Q4 2014
Auxiliary Cutter assembled Q1 2015
Collecting Machine assembled Q1 2015
//////////////////////////////////////////////////
Looking to accelerate our impressive pipeline
of projects
In discussions with a number of interested
parties regarding
– seafloor massive sulphides in other jurisdictions
– nodules in the Clarion Clipperton Zone (CCZ)
– Equipment partnering/Joint Ventures (JVs)
- Exploring potential JVs to bring projects
forward with interests at project, asset, and/or
corporate level
- Assay results recently reported from the
polymetallic nodule survey program to the
CCZ support the findings in the independent
NI 43-101 minerals resource estimate*
//////////////////////////////////////////////////
- Satisfy Nautilus’ Conditions Precedent
- Receive the State’s full capital contribution in escrow by July 31, 2014 DONE 09-May-14
Move forward with the Solwara 1 Project
– Accelerate equipment build
– Secure vessel solution
– Ensure continued government and
community support
- Maintain licences and permits
- Accelerate development of additional
assets
http://www.nautilusminerals.com/i/pdf/2014-April-Webcast-Presentation.pdf
maui4marko post May 10th,2014 10:59 AM
This question from seaminer2 deserves its own thread:
"Are there concerns among technically knowledgeable observers that the pump and raiser could pose serious engineering challenges? I would have guessed that any issues with getting these systems to work smoothly might delay the project by some months or a year at worst. Some perspective on the technical side of this matter would be most welcome."
Seaminer - check out slides 10 and 11 from the London conference in December: http://www.minesandmoney.com/london/wp-content/uploads/2013/12/Nautilus-Minerals.pdf
You can see the test loop for the subsea slurry lift pump (SSLP). They are currently enhancing the test environment and then will be running the pump continuously for the next 2 years until the vessel is ready for equipment integration. This will test the durability and longevity of the pump. Slide 11 gives perspective on the size of the unit. It's huge, on the same scale as the seafloor production tools (slide 8).
And from April's company presentation http://www.nautilusminerals.com/i/pdf/2014-April-Webcast-Presentation.pdf Pump: slide 5 indicates that full scale loop testing to commence Q2 2014 with delivery
expected by mid 2016.
Per that same slide "Riser system: 50% complete. Delivery expected by Q1 2015".
Although there are risks with the pump & riser, the bigger risk to first ore is the vessel and financing
This chits gonna get rowdy
Drivers for the Development
of Deep Sea Minerals in
the Pacific
http://www.mpi.org.au/wp-content/uploads/2014/05/Roche-and-Feenan-2013-Drivers-for-the-Development-of-Deep-Sea-Minerals-in-the-Pacific.pdf
I believe so but can't confirm that for certain.Have to do some research on that.I know PNG is wanting some Intellectual Property rights so I assume it is with those machines and/or their processes?
Are the mining machines patented?
Deep-sea mining: Germany wants to use deep-sea as a raw material source- opportunity for German and Norwegian companies
Any of these companies could be interested in Nautilus as a buyout candidate at some point in the future.
http://opportunities-in-europe.com/2014/05/09/deep-sea-mining-germany-wants-to-use-deep-sea-as-a-raw-material-source-opportunity-for-german-and-norwegian-companies/
I would if I could ...this is ridiculous....but not entirely surprised.
Wish I had a crystal ball and could have seen this coming,.....would have dumped all my shares and bought back under .50 I really thought it would head much higher .at the least I thought it would go to the recent high of .70 before any pullback.
I don't think people are getting the big picture here,either that or I have the wrong picture LOL!
I was also just watching the SEC whistleblower video deciding if I want to report what I consider securities violations yesterday.Someone was allowed to load several hundred thousand shares I believe at or near the .40 cent area,and I think it should be investigated.They knew what was coming today without a doubt in my mind.However,since there is so much of that kind of BS going on I am thinking it is not worth my time and effort to even bother.Why should someone be allowed a free ticket to ride,it's not fair to the rest of us whether you are an investor or a trader.
Whoever loaded yesterday could be the one(s) unloading today for a quick flip.That is something the SEC would need to investigate though.In the end the dollar amount wouldn't be high enough for them probably to give it a second look because they have bigger fish to fry.It just torques my chain is all.
http://www.sec.gov/whistleblower
Just added another few thousand shares of NUS.TO
Agree with that ,it is what it is.I'm gonna just have to sit tight on my shares.I really thought it would move higher but apparently not yet.
Patience is not one of my greatest virtues so I'm gonna have to clamp down for awhile.
Good luck to you and all shareholders things are really starting to pan out.
Looks like they trying to close the gap
Dollar land here we come !!!! Nuff said!!
Nautilus Minerals Inc.: State of PNG Pays $113M Into Escrow
TORONTO, ONTARIO, May 09, 2014 (Marketwired via COMTEX) -- Nautilus Minerals Inc. CA:NUS +31.92% (otcqx:NUSMF) (the "Company" or "Nautilus") announces that the Independent State of Papua New Guinea's (the "State") nominee for participation in the Company's Solwara 1 Project (the "Project") has today placed US$113,000,000 into escrow, representing the balance of the funding for the State nominee's 15% share of the capital required to complete the development phase of the Project up to first production.
On April 24, 2014, the Company announced it had resolved the dispute with the State and signed an Agreement (the "Agreement") with the State's nominee, Eda Kopa (Solwara) Limited ("Eda Kopa"), a subsidiary of Petromin PNG Holdings Limited, enabling the Project to move forward toward production (see Links section).
Mike Johnston, Nautilus' CEO, commented, "the fact that the State's nominee has placed the money into escrow well in advance of the 31 July deadline in the Agreement further demonstrates the support the State now has for the Project, as we continue to work together as partners in this new deep sea mining industry."
With the State's nominee, Eda Kopa, having paid into escrow the funds for its 15% interest in the Project up to first production, Nautilus must now secure the charter of a Production Support Vessel and secure for Eda Kopa, certain intellectual property rights within 6 months. The funds will be released to Nautilus on the satisfaction of both conditions.
The Company will now focus its attention on securing a suitable vessel arrangement and is continuing its discussions with potential vessel partners, while also undertaking a tender process with shipyards experienced in building offshore construction vessels.
TRADES THURSDAY 5/9/14
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http://www.iii.co.uk/investment/detail.epl?code=cotn%3ANUSMF&display=trades&it=ne&show=100
Call for deep sea mining study in PNG
The Governor of Papua New Guinea's Oro Province, Gary Juffa, has called on the government to conduct a scientific study to determine the threat deep sea mining could have on marine life.
This comes as the Government has renewed its commitment to the sea floor mining plans of the Canadian multi national Nautilus.
Mr Juffa told Parliament it's only fair a scientific study is carried out to determine whether tuna stocks will be affected.
He claims Nautilus's Solwara 1 project will affect the marine life.
Mr Juffa told parliament that there must be an independent investigation into the project site.
He says the government can then act upon the recommendation of the scientific findings.
http://www.radionz.co.nz/international/pacific-news/243861/call-for-deep-sea-mining-study-in-png
Another article same issue >>>>>
http://ramumine.wordpress.com/2014/05/09/oro-governor-juffa-queries-deep-sea-mining/
.............
.............
.............
Same ol,same ol.... Their concern about TUNA, based on Nautilus studies already done, is unfounded in reality.When Nautilus returns the sediment to the seabed ,at the depth they are working,even the debris plume that may be created won't reach the depths that TUNA live in.
Nautilus website >>>>
" Thus, the processes of mining and dewatering will not affect the pelagic tunas, tuna fisheries or near shore coral reefs, including traditional reef fishing activities. Also it is important to note that no chemicals will be discharged during production."
There is much More on Nautilus website if interested.
I think they have a pretty good idea of what may or may not occur.I think they need to just take the gloves off and let it happen...let's find out if it has an effect or not.The only way to do it ,after taking as many precautions as necessary,is to just do it.Stop being stupid and just get er done!!!
http://www.cares.nautilusminerals.com/EIA.aspx?npath=1,4,5,9
Deep Sea Mining Agreement
Time moves like molasses as they say here, but it moves.
Almost exactly a year ago I wrote a post called Mining the Seabed. Almost exactly a year before that I wrote a post about the possibility of sending robots to mine asteroids. All science fiction I heard you say, but oh wait.
A couple of weeks ago Nautilus Minerals, a Canadian mining corporation, signed a deal with the Papua New Guinea government to start digging (mining) the seabed just off their coast.
The mining will be done from the surface. A series of large machines (310 tonnes), one of which we see in the photo above, will be operated from ships, placed on the seabed and will effectively break up the top layer so that the ore can be pumped up as slurry (muddy stuff).
Now this doesn’t sound too good to me, but the operators claim that “It’s a resilient system and studies show that life will recover in 5-10 years. An active venting site 1km to the south East has the same bugs and snails and the current will carry the bugs and snails to the mine site. We expect it to recover quite quickly.”
Greenpeace don’t agree. The truth is we don’t really know who is right. What we do know though is that there is big money involved. The bed is rich in gold and copper, and we need this stuff for far more than wedding rings and rheumatism charms.
Now as some of you will know, my mission in life is to promote responsible innovation through my work at the Bassetti Foundation, and we can take a look at the developments above from this perspective. We all use gold and copper, and it is in great demand. My computer won’t work without electricity, copper cables, solder, silicon etc, so we can be as forthright as we like but we are the ones creating the demand.
Companies are looking to supply us and make a profit, there now seems to be a viable mining approach that will involve getting it from under the oceans. Nobody will be able to stop them doing it, so we need to think about how they are going to do it, and where.
There is probably no real way of knowing how quickly the seabed will reform or how much damage is going to be caused, there are no qualified experts in mining to conduct the operations (it’s a first time gig) and international regulation still needs to be drawn.
There does not seem to have been much public debate, we won’t be able to monitor proceedings ourselves and at the best of times, mining is a dirty affair.
So this could be a disaster waiting to happen, or it could be a fantastic opportunity to create a framework that could address all of the problems above and be applicable in other fields.
Last year some academics published an article about their experiences working in a geoengineering project. Similar set of problems as described above, but social scientists were involved in the project and participated in the decision-making process. The outcome was extremely interesting, the project scientists decided to suspend their research and rethink their positions. The article is free to download here, where there is also a more precise description. It’s easy to read and very interesting.
http://www.technologybloggers.org/technology/deep-sea-mining-agreement/
Well , that was a pretty uneventful close.....Maybe next time LOL!
I wouldn't want to be accused of starting any rumors but the way it was trading this morning and the amount of volume out of the blue.....it's almost as if someone knew something we didn't.
Stranger things have happened
Curious to see what happens as we approach the close
As well I think we should be at a minimum of .50s' waiting on the next leg ,not .40s'
I saw that about 2 am but not interested in subscribing.I'd like to know what it said,but not enough to subscribe.
I figured it is just rehashing the same stuff we already know.
I don't sell any share this will explode in the next years
1$ is nothing,,,
you will see
traders and MM shaking a little but the next time 0,70$ will be breaked like cheese
Peculiar trading today for sure.Almost as if someone manipulated the share price up so someone could dump several hundred thousands,but they dumped them at .40? I don't think I've ever seen anything quite like it! LOL! At least it's entertaining.
I thought I would be bored and the stock was just gonna lay around and do nothing!
Maybe they were buying at .40 and it just looks like they were selling.
Who knows .,..,..strange trading
NAUTILUS SECOND LARGEST SHAREHOLDER
OWNS ALMOST 21%
Check them out here >>>>>
Nautilus Minerals was the first company to commercially explore the ocean floor for polymetallic seafloor massive sulphide deposits. It is currently developing its first project at Solwara 1, in the territorial waters of Papua New Guinea in the western Pacific Ocean. In 2011, Nautilus Minerals received a licence for deposit exploration for 20 years. Metalloinvest holds a 21% stake in Nautilus Minerals listed on the Toronto Stock Exchange.
http://metalloinvest.com/en/our-business/accompanying-business/1580/
NAUTILUS MINERALS LARGEST SHAREHOLDER
OWNS 28%
Check them out ,,,obviously because of delays with PNG 2013 didn't happen at Solwara 1,,,,,,,,,>>>>>
Mining & Exploration
Mawarid Mining
Mawarid Mining, a Mawarid Mining, a wholly-owned subsidiary of MB Holding Company, was established to explore and develop mining opportunities in Oman and internationally.
Established in 1997 as National Mining Company, the company was rebranded to Mawarid Mining in 2010. It is the first private sector mining company to engage in the exploration and development of copper & gold in the Sultanate of Oman.
The company’s mission is to be a responsible and profitable global business dedicated to exploration, development and operation of mineral resource projects. It’s vision is to become the largest mining company based in the Middle East.
Mawarid’s quest for resource growth has seen it expand exploration activities beyond Oman into Tanzania, Kazakhstan and Kingdom of Saudi Arabia in search of copper and gold deposits.
The company has acquired a 28% share in Nautilus Mineral Inc (Nautilus), a company listed in the Toronto Stock Exchange (TSX). Nautilus is the first company to explore the ocean floor for polymetallic seafloor massive sulphide deposits. Nautilus intends to commence operations at the Solwara 1 deposit by end 2013.
Mawarid Mining LLC also owns more than 90% stake in the Sandpiper Marine Phosphate Project (“Sandpiper Project”), located at Walvis Bay in Namibia, held in the entity Namibian registered Namibian Marine Phosphate Pty Ltd (“NMP”).
Mawarid Mining has entered into a joint venture on the Boke Gold project in Kazakhstan and also acquired its first property in Tanzania, 130 sq.kms. Chunya PL in the Lupa Gold field.
http://www.mbholdingco.com/business_mining_minerals.shtml
For anyone concerned about them running out of cash,in my opinion they are good to go for over a year.Depending on what kind of deal they make for the ship it could cause them to be only sllightly more dilutive to shareholders or not at all.Consider to that if the share price is up the amount of dilution to get the deal done would be much less than the last dilutive financing they did.
Under the newly signed agreement, the government will take a 15% share in the Solwara 1 project for US$120 million, with US$113 million of those funds to be placed in escrow by the end of July, if not sooner, and the remaining US$7 million already paid as a nonrefundable deposit.
Johnston said during an April 29 conference call that the state then has three additional 5% options that it can choose to exercise at six, nine and 12 months from the joint venture becoming unconditional. The price at which the Papua New Guinea government can exercise each of those options is dependent on the costs that have been sunk into the project up until each option is exercised, he noted.
...........................
Johnston is confident the government will keep its word this time around. "What the state is doing is putting all of its funds into escrow by the 31st of July, which should eliminate people's concerns around funding for the state's interest in the project, and the state has always been very supportive of this project," he said.
"The state doesn't want to be standing on the sidelines and be an observer in the development of the resources in Papua New Guinea. It's made it very clear that it wants to be an active participant."
The government has already signed an agreement for a finance facility with Bank of South Pacific in the country's capital, Port Moresby, to fund the purchase of the initial 15% stake. Johnston said the escrowed funds are sufficient to cover the project's development through to first ore.
For the deal to go ahead, Nautilus must secure the charter of a production support vessel within six months of the funds being placed in escrow, which the company is confident it can achieve
"I certainly believe that we will be able to get it done within the 6 month timeframe," CFO Shontel Norgate said during the conference call. "We've been in discussions with a number of parties over quite a long period of time because we've always recognized that we need to have a vessel whether we had an arrangement with PNG or not."
"Certainly the people that we've been talking to were very keen to see agreement with the state and see what the arrangement would be, and now that we've achieved that it means that we can now move to that next level of detailed discussions."
Nautilus is going through a formal tender process to secure the charter of a production support vessel, which it expects to complete in the third quarter to have the arrangement in place by the final quarter of the year.
The company is considering the option of either owning the vessel outright or in partnership with other investors and then entering into a build contract and a subsequent charter agreement with the joint venture, or alternatively having a third party build the vessel and then entering into a straight charter arrangement.
Precious Metals Equity Research's Bugos said the deal with Papua New Guinea is good for shareholders. "All of Nautilus' options without the state were too dilutive at current share prices," he said. "Although it could debt finance the project, especially if it can ultimately collect on the damages awarded."
PNG deal reduces finance needed
After Nautilus terminated the original state equity option agreement, it planned to return to the market to raise the necessary cash after it had locked in the vessel contract.
The company still plans to tap investors for further cash once it has the vessel contract in hand, but the amount it requires will be much less.
Nautilus has been averaging a cash burn rate of between US$1.5 million and US$2 million each month and expects to continue at that rate over the next six to nine months.
http://www2.snl.com/Interactivex/article.aspx?CdId=A-27976787-9764
you are not pumping, all these projects, machines phase I ready, robots, etc
and most important NUMBER of potential projects!!... rare earth smell, etc etc
Kilometers of land to explore, this could be one of the bargain of the century first from 5$ to 0,20$ and years later from 0,20$ to 3$
time will tell
Deep Sea Diving, The New Gold Rush? (2 separate articles)
The Lure of Gold
While much has been written on the allure of gold and why it has captivated mankind for centuries, it has always been a treasure in limited supply. You might be surprised to learn that all the gold ever mined or recovered would not fill an Olympic-sized swimming pool. On top of that, over 80 percent of the world’s supply of gold has been found since the California Gold Rush of 1849. These facts underlie the concept of a low supply of a product in high demand means high prices for that item. If you have watched the prices of gold escalate over the past decade, you understand there is a high and growing demand for gold and its many uses.
An Unlimited Supply?
As gold has no intrinsic value, its perceived value depends on this limited supply. However, the irony of rising prices is that it is now making it possible to seek out supplies of gold in increasingly exotic locations. Scientists tell us that 99 percent of the gold in the world is located in the earth’s core. This is, of course, inaccessible under any conceivable scenario.
However, if you are one who favors this precious metal, you might be intrigued to know those same scientists tell us that for every person alive, there are nine pounds each of gold waiting in veins on the floor of the deepest seas. According to National Geographic, that represents a value of $150 trillion at today’s market prices for gold.
Of course, knowing the gold is there and having the ability to bring it to market are two very different propositions. Due to the anticipated challenges and immense costs of any such effort, it has only been practical to consider it as gold prices rose above $2,000 an ounce.
A recent article in the National Geographic discusses the efforts of one company tackling the project, seeking to mine not only gold, but other minerals such as nickel, copper, and zinc that are known to be in these deposits. Initial efforts are focused on the coast of Papau New Guinea. The United Nations has closely studied this potential for a new Deep Sea Gold Rush and is actually preparing to issue licenses through its International Seabed Authority by 1916. Time will soon tell if the economics of deep-sea recovery will launch such a new gold rush.
Read more: http://marinesciencetoday.com/2014/05/06/deep-sea-diving-the-new-gold-rush/#ixzz310Vf5WSY
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Article referred to in the above article from National Geographic published February 1st >>>>>
Will Deep-sea Mining Yield an Underwater Gold Rush?
http://news.nationalgeographic.com/news/2013/13/130201-underwater-mining-gold-precious-metals-oceans-environment/
Iron sands mining hearings to wrap up this week
Here's another mining company making an attempt at mining from the sea but from reading this article it appears only a depth of 12 meters for Iron sands.According to the article ,
"The applicants have submitted otherwise, stating that no rare or vulnerable ecosystems or habitats of threatened species had been identified as being potentially affected.
This was supported by consultants SKM in a peer review report noting the project area and adjacent habitats was not known to provide habitat for any threatened species of benthic fauna, nor contain threatened marine mammals.
The Ministry of Primary Industries has also submitted that effects on fishing would be "negligible or non-existent"."
and
"Any life on the seafloor, such as tubeworms, would be destroyed as the mining progressed 300sqm block by block, but the company believed the areas would soon be repopulated."
http://www.nzherald.co.nz/nz/news/article.cfm?c_id=1&objectid=11250634
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Along with the same subject and more about Nautilus, I'm not sure people understand the breadth and depth of the work that Nautilus has done on Environmental Impact ...here's a sampling from a page off their website and there is much the company has done and continues to do >>>>>
"Dr. Samantha Smith leads the environmental group at Nautilus. Dr. Smith has been instrumental in developing and completing the 2.5 years of work that went into the Solwara 1 EIA.. Assisting Nautilus as lead consultant on the EIA was Coffey Natural Systems (Australia), a company which has over 30 years of experience working in Papua New Guinea.
During the EIA Process, Nautilus collaborated with many world-renowned experts with the aim to enrich the field of marine science through additional deep sea study. During eight environmental campaigns we logged over 110,000 observations of the seafloor, recorded over 7,000 hours of seafloor video footage, took over 6,000 seafloor photographs, and collected over 30 terabytes of data. We have gone to great lengths to ensure that the voices of independent experts have been heard throughout the process.
The following list outlines some of the research institutions and consultancies involved in the Environmental Impact Assessment studies: Asia Pacific Applied Science Associates, Australia
•Australian National University, Australia
•Charles Darwin University, Australia
•Coffey Natural Systems, Australia
•College of William and Mary, USA
•Commonwealth Scientific Industrial Research Organization, Australia ("CSIRO")
•Curtin University of Technology, Australia
•Duke University, USA
•Hydrobiology, Australia
•James Cook University, Australia
•Rabaul Volcano Observatory, PNG
•Scripps Institution of Oceanography, USA
•University of Papua New Guinea, PNG
•University of Toronto, Canada
•Woods Hole Oceanographic Institute ("WHOI"), USA
http://www.cares.nautilusminerals.com/EIA.aspx?npath=1,4,5,9
I think this stock has now become tradable.What I mean is before the deal last month was inked it just kind of hung out near .20,it moved a little once in awhile but was pretty stagnant.
Now I think it will start moving more up and down and provide opportunities to traders,which in turn will create more volume and more interest.
It can only be good if that trend continues because more eyes will be watching it when big news finally does break,creating even more interest and it is my hope well deserved share price appreciation.
De Beers close to new technology breakthrough on marine diamond mining
Nautilus is going to be working at I believe 1600 meters at Solwara 1 but this does show several things.You have DeBeers digging around the ocean floor for Diamonds at a depth where there are the type of Fish that fisherman would be concerned about if there was an environmental problem,apparently there is none.Nautilus will be working at a depth way beyond the travel of any fishable species.
De Beers is getting closer to introduce new technology, which will allow it to mine marine deposits in mid-water depths.
Bloomberg quoted Namibia country manager Daniel Kali as saying that the new technology would enable De Beers to exploit marine gems deposited in gulleys and rocky areas underwater at 30 meters to 50 meters and extend operations to beyond 2050.
The Namibian government and De Beers own equal shares in Namdeb Diamond whose Debmarine unit mines off the country’s coast at depths of 90 meters to 140 meters.
“Mining in the mid-waters is premised on making a breakthrough in technology to exploit those deposits,” Kali said.
“Some interesting work has been done but we haven’t reached a level where the researchers can say they are satisfied.”
Namibia’s Atlantic coast area holds an estimated 80 million carats of gems, Bloomberg reports.
http://www.rough-polished.com/en/news/90526.html
I see real value building here in this company.I know they have had their pitfalls over the years and it seems like it has just been taking forever and a day for this to get going....as if .....it will never happen.
However,I do think a new era for Nautilus is upon us and if you aren't getting on board you will be missing out on purchasing shares of one of the greatest and most historical companies of this decade/century.
Sure...I own shares so I am biased and I have also been in and out of this over the last few years ....waiting...watching patiently...hoping for a glimmer of light at the end of the tunnel.The light is starting to shine when they made this deal with PNG in April 2014.
I could be wrong and we're all going to lose every penny we invest here but I don't think so.This is my stance if you disagree then don't buy the stock,if you agree then buy hand over fist ...accumulate,accumulate,accumulate !!!!
That was my pumper post for the day and there is nothing wrong with pumping something when you know you're right!! LOL!
If a person wanted to explore the facts surrounding the extensive Environmental studies ,the interaction Nautilus has had with the local communities and that the final Environmental Permit for the development of the Solwara 1 Project was granted by the Department of Environment and Conservation (DEC) in December 09,,,,,,,, I would suggest going to the "Nautilus Cares" website where you will find such extensive information to study I think you will become overwhelmed with information showing that not only has Nautilus done it right,,,their environmental impact studies show without a doubt that all of the current chatter about the environment is simply untrue and unfounded in reality.They discuss so much and so in depth that it is pointless to even attempt to post it all here.
Nautilus is prepared for the challenges they are facing and have done a superb job reaching out to the locals and educating them on the facts.
http://www.cares.nautilusminerals.com/
I'm all about trading ....but anyone selling here other,than market makers playing games, truly is an unintelligent investor or trader.
Because of the way this trades ,anyone flipping out here and expecting to get back in at a lower price,although it could happen,isn't going to be an easy task.
You are getting dangerously close to what should be a bottom already in my opinion.
It's okay though because I am so confident on this going over a 1.00 soon that all this is doing is providing an opportunity for those who understand the current situation to get in lower.So if I am wrong about this being near the bottom great for me to add more as soon as possible.
Good luck with flipping out here and getting back in lower if that is your intentions.
me waits for 1,50$ minimum and this with dilution with revenues 2$ on the ROUTE....
let's wait .... but with more targets identified I see this growing and growing the next 5 years
Hoping for another good week here and we don't fall back.I don't know how we really can at this point it is still undervalued but wallstreet has a way of handing you lemons....ya just got to make lemonade with what you have to work with!!!
I'm still expecting another test of .70 soon and not too long for a push over 1.00
I don't think PNG is gonna pull out this time.You don't spend 7 million dollars on a game,,or a whim. Especially if you are PNG....takes a lot for them to come off the cash as we have seen from past experience.
Any pullback now will be met with strong buying ...guaranteed.
I bought more Friday.....some of those .46s' were mine!! Yeehaaa!
Good luck traders,investors and all cartoon characters!!!
Successful seafloor mining by Nautilus Minerals will be a 'game changer'
By Angela Kean
Mining of minerals from the ocean floor is a yet-to-be-proven method, but if Canadian explorer Nautilus Minerals Inc. is successful in its endeavor to bring the Solwara 1 copper-gold-silver project in Papua New Guinea into production, it will be a game changer for the industry.
Precious Metals Equity Research CEO and President Edmond Bugos told SNL Metals & Mining that if Solwara 1 is successful, it will open up a whole industry.
"I am a big believer in the prospects for mining the seafloor," he said. "[AngloGold Ashanti Ltd.] and De Beers SA signed an agreement a few years ago. Anglo was one of the major sponsors of Nautilus in the beginning. All the majors had/have an interest in Nautilus for the same reason."
Until recently, there was uncertainty surrounding the Solwara 1 project after Nautilus terminated a state equity option agreement held by the government of Papua New Guinea to gain a 30% stake in the project.
The company terminated the agreement in February after the government failed to complete the purchase of a 30% interest in the Solwara 1 project despite an arbitrator ruling in early October 2013 that the government comply with the agreement.
Nautilus President and CEO Michael Johnston said at the time that the company could not continue to carry the state's share of the development cost for the project.
While Johnston continues to remain tight-lipped on the issues that Papua New Guinea had with the original state equity option agreement, Bugos said the government may have been "buying time" because it lacked the funds to meet its obligations on time, or it had other financial priorities.
He added that the stipulation in the agreement that Nautilus must secure certain intellectual property rights for the government may have also been an obstacle.
However, Nautilus kept the lines of communication open with the Papua New Guinea government and on April 24 revealed it had reached a new agreement.
Under the newly signed agreement, the government will take a 15% share in the Solwara 1 project for US$120 million, with US$113 million of those funds to be placed in escrow by the end of July, if not sooner, and the remaining US$7 million already paid as a nonrefundable deposit.
Johnston said during an April 29 conference call that the state then has three additional 5% options that it can choose to exercise at six, nine and 12 months from the joint venture becoming unconditional. The price at which the Papua New Guinea government can exercise each of those options is dependent on the costs that have been sunk into the project up until each option is exercised, he noted.
Trust PNG will come through
Johnston is confident the government will keep its word this time around. "What the state is doing is putting all of its funds into escrow by the 31st of July, which should eliminate people's concerns around funding for the state's interest in the project, and the state has always been very supportive of this project," he said.
"The state doesn't want to be standing on the sidelines and be an observer in the development of the resources in Papua New Guinea. It's made it very clear that it wants to be an active participant."
The government has already signed an agreement for a finance facility with Bank of South Pacific in the country's capital, Port Moresby, to fund the purchase of the initial 15% stake. Johnston said the escrowed funds are sufficient to cover the project's development through to first ore.
For the deal to go ahead, Nautilus must secure the charter of a production support vessel within six months of the funds being placed in escrow, which the company is confident it can achieve
"I certainly believe that we will be able to get it done within the 6 month timeframe," CFO Shontel Norgate said during the conference call. "We've been in discussions with a number of parties over quite a long period of time because we've always recognized that we need to have a vessel whether we had an arrangement with PNG or not."
"Certainly the people that we've been talking to were very keen to see agreement with the state and see what the arrangement would be, and now that we've achieved that it means that we can now move to that next level of detailed discussions."
Nautilus is going through a formal tender process to secure the charter of a production support vessel, which it expects to complete in the third quarter to have the arrangement in place by the final quarter of the year.
The company is considering the option of either owning the vessel outright or in partnership with other investors and then entering into a build contract and a subsequent charter agreement with the joint venture, or alternatively having a third party build the vessel and then entering into a straight charter arrangement.
Precious Metals Equity Research's Bugos said the deal with Papua New Guinea is good for shareholders. "All of Nautilus' options without the state were too dilutive at current share prices," he said. "Although it could debt finance the project, especially if it can ultimately collect on the damages awarded."
PNG deal reduces finance needed
After Nautilus terminated the original state equity option agreement, it planned to return to the market to raise the necessary cash after it had locked in the vessel contract.
The company still plans to tap investors for further cash once it has the vessel contract in hand, but the amount it requires will be much less.
Nautilus has been averaging a cash burn rate of between US$1.5 million and US$2 million each month and expects to continue at that rate over the next six to nine months.
Seafloor mining faces opposition
Bugos said the industry is faced with political resistance from small religious groups and upstart nongovernmental organizations looking for funding.
"They have attacked on two fronts — concern about disturbing life near live [seafloor massive sulfide] vents and concern about local fishermen losing their jobs to the disturbances," he said.
However, Bugos does not believe the resistance groups have a lot of substance in their claims or concerns.
Solwara 1 a 'test for project'
While progress in identifying seafloor massive sulfide, or SMS, resources generally has been limited, more projects will likely come on line if Nautilus is successful in bringing Solwara 1 into production.
Bugos said much depends on the Solwara 1 project.
"It is supposed to be the test for project, effectively," he said. "I don't think there has been a lot of progress in identifying SMS resources generally, so [Nautilus] probably has a good head start on everyone else, but yes, I expect more of these to come on line."
Bugos said Nautilus has identified over 20 potential deposits similar to Solwara 1.
Solwara 1 hosts an indicated resource of just over 1.0 million tonnes at 7.2% copper and 5 g/t of gold for 74,160 tonnes of copper and 165,600 ounces of gold and an inferred resource of 1.5 million tonnes at 8.1% copper and 6.4 g/t of gold for 124,740 tonnes of copper and 316,900 ounces of gold.
Nautilus also holds more than 500,000 square kilometers of exploration territory, or tenement applications, in Papua New Guinea, Tonga, Fiji, Vanuatu, the Solomon Islands, New Zealand and the central Pacific.
According to Nautilus, previous exploration has already identified 19 mineralized seafloor systems in the Bismarck Sea and 19 in Tonga.
In September 2012, subsidiary Tonga Offshore Mining Ltd. released a 410 million-tonne maiden resource for its Clarion-Clipperton Zone polymetallic nodule project, located in the central Pacific ocean.
Polymetallic nodules are known to contain significant grades of manganese, nickel, copper and cobalt.
http://www2.snl.com/Interactivex/article.aspx?CdId=A-27976787-9764
I heard from someone that it would be normal for the pps to drop to where the moving averages are then bounce up from there... what are your thoughts? I try to learn everything I can from others posts as I wait for my investments to pay off!
I expect to start moving up again soon the stock had a nice run and needed this consolidation and cool down.The fact that there isn't much volume kind of tells me people are holding tight to the shares they have.
Any small dips are on low volume it seems.This will move on news ,small bits and pieces as time moves on,not sure what the catalyst will be that finally puts it over 1.00 a share.The sooner the better as always!!!!
Just buy and wait....nice and expected move up over a 1.00(and higher) coming,evenutally.The only ones selling are probably gonna be those that might get impatient or need the money elsewhere and can't......
WAIT FOR IT
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United States sitting out race to mine ocean floor for metals essential to electronicsChina and other countries are racing to be the first to mine trillions of dollars worth of metals used in cell phones, supercomputers and more, while the U.S. is on the sidelines. 60 Minutes reports, Sunday at 7:30 p.m. ET and 7 p.m. PT on CBS https://www.cbsnews.com/news/united-states-sitting-out-race-to-mine-ocean-floor-for-rare-earth-elements-metals-electronics-60-minutes-2019-11-13/..
Contact InformationOperations (Brisbane, Australia) | |
Nautilus Minerals Inc (referred to on this website as "Nautilus", "Nautilus Minerals" or the "Company") is the first company to commercially explore the seafloor for massive sulphide systems, a potential source of high grade copper, gold, zinc and silver. Nautilus is developing a production system using existing technologies adapted from the offshore oil and gas industry, dredging and mining industries to enable the extraction of these high grade Seafloor Massive Sulphide ("SMS") systems on a commercial scale.
Nautilus’ copper-gold project, Solwara 1, is under development in the territorial waters of Papua New Guinea. The Company has been granted the Environment Permit and Mining Lease required for resource development at this site.
The Company plans to grow its tenement holdings in the exclusive economic zones and territorial waters of Papua New Guinea, Fiji, Tonga, the Solomon Islands, Vanuatu and New Zealand as well as other areas outside the Western Pacific.
Nautilus has among its significant shareholders, two of the world’s largest resource companies and the nature of its alliances and technical partners place it firmly in pole position as the world leader in deepwater exploration and the development of mineral systems.
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