Nautilus Minerals paid a $10-million (U.S.) vessel charter deposit to a fraudulent bank account after a December 2014 cyberattack targeting the company and Marine Assets Corp.
Nautilus Minerals has completed mechanical and hydraulic assembly of its collecting machine and begun systems commissioning at Soil Machine Dynamics' Newcastle upon Tyne facility.
The $113-million (U.S.) held in escrow since May 2014 will be released to Nautilus Minerals on Dec. 11, 2014 upon completion of its agreement with PNG's state nominee.
Nautilus Minerals reported Q3 2014 results, including a new vessel charter, satisfaction of an IP condition with PNG's nominee, and $29.2-million (U.S.) in cash as at Sept. 30, 2014.
Nautilus Minerals has satisfied the first of two conditions precedent to release $113-million (U.S.) held in escrow by Papua New Guinea's state nominee for the Solwara 1 project.