Nautilus Minerals signed a binding heads of agreement with Tongling Nonferrous Metals Group for the sale of material extracted from its Solwara 1 deposit in the Bismarck Sea, Papua New Guinea.
Afri-Can Marine Minerals Corp. has signed a $3-million private placement financing agreement with Mauritius-based Trinity Assets Management International Ltd.
Nautilus Minerals ended 2011 with $149.4-million (U.S.) in cash after receiving the first deep sea hard-rock mining lease for its Solwara 1 project in Papua New Guinea.
Nautilus Minerals filed two updated NI 43-101 technical reports covering its Pacific tenements, including a revised Solwara project mineral resource estimate.
Deep-South Mining signed an option agreement with Teck Namibia to earn 60 per cent of the Zebrafontein exploration and prospecting licence in southern Namibia.
Nautilus Minerals says Teck Resources has declined to participate in exploration activities in Fijian waters under their 2007 area of interest agreement.
Afri-Can Marine Minerals received TSX Venture Exchange approval to acquire 20 per cent of Thyme Investments, owner of the EPL 3403 marine diamond concession in Namibia.
Nautilus Minerals' Tongan subsidiary Tonga Offshore Mining Ltd. formally signed a 15-year exploration contract with the International Seabed Authority for 75,000 square kilometres in the Clarion Clipperton zone.