Key points
- Papua New Guinea has not completed the purchase of its 30-per-cent interest in Nautilus Minerals’ Solwara 1 project despite an arbitrator’s award issued Oct. 2, 2013.
- Nautilus has terminated the state equity option agreement, which the parties signed in March, 2011, and will claim damages against the state.
- Nautilus says it continues to seek an amicable resolution of the dispute with the state.
- The company will hold an investor conference call and webcast on Tuesday, Feb. 18, 2014, at 10 a.m. Eastern Standard Time, with a supporting presentation posted online by 9:30 a.m. EST that day.
NAUTILUS MINERALS TERMINATES AGREEMENT WITH THE STATE
Contrary to the arbitrator’s award of Oct. 2, 2013, Papua New Guinea has not completed the purchase of its 30-per-cent interest in Nautilus Minerals Inc.’s 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, Feb. 18, 2014, at 10 a.m. Eastern Standard Time.
Conference call details
Dial-in numbers:
International dial-in: 61-2-8524-5042
International dial-in: 61-2-8524-5042
Australia: 1800-801-825
Australia: 1800-801-825
Canada: 1-855-842-3490
Canada: 1-855-842-3490
United Kingdom: 0800-0150-9725
United Kingdom: 0800-0150-9725
United States: 1-855-298-3404
United States: 1-855-298-3404
Attendee passcode: 9863707
Attendee passcode: 9863707
If your country dial-in number is not included here please e-mail the company.
A presentation to support the conference call will be posted on the company’s website for download by 9:30 a.m. EST (Toronto) on Tuesday, Feb. 18, 2014.
