Key points
- Nautilus received a favourable arbitration decision against the independent State of Papua New Guinea in 2013.
- The company completed a $40-million rights offering during the year.
- Construction of the Solwara 1 project’s seafloor production tools reached 90 per cent completion.
- Nautilus held $40.6-million (U.S.) in cash and cash equivalents as at Dec. 31, 2013.
Nautilus Minerals Inc. has released its audited consolidated financial statements for the year ended Dec. 31, 2013, together with management’s discussion and analysis and the company’s annual information form.
2013 significant events
Favourable decision received in arbitration with the independent State
of Papua New Guinea;
$40-million rights offering completed;
Solwara 1 project advanced with the build of the seafloor production
tools now 90 per cent complete;
Clarion Clipperton zone nodule exploration program completed with
analysis of samples collected supporting the grade of elements
previously reported;
Changes to the board of directors;
$40.6-million (U.S.) in cash and cash equivalents as at Dec. 31, 2013.
- Favourable decision received in arbitration with the independent State
of Papua New Guinea;
- $40-million rights offering completed;
- Solwara 1 project advanced with the build of the seafloor production
tools now 90 per cent complete;
- Clarion Clipperton zone nodule exploration program completed with
analysis of samples collected supporting the grade of elements
previously reported;
- Changes to the board of directors;
- $40.6-million (U.S.) in cash and cash equivalents as at Dec. 31, 2013.
Nautilus’s chief executive officer, Mike Johnston, said: “While 2013 was a challenging year for Nautilus, we are excited by the progress that was made, in particular with the seafloor production tools, which are currently 90 per cent complete. Although the company recently terminated the state equity option agreement, Nautilus is continuing discussions with the state in order to reach an amicable resolution.”
