Nautilus Minerals discovered an eighth seafloor massive sulphide system, Solwara 8, within its Papua New Guinea exploration licences after reprocessing 2005 geophysical data.
Nautilus Minerals signed a shipbuilding contract with Jan De Nul Group and La Naval shipyard in Sestao, Spain, for the Solwara 1 support vessel Jules Verne.
Neptune Minerals has started its month-long Kermadec 2007 exploration program offshore New Zealand, mapping and sampling seafloor massive sulphide targets.
Nautilus Minerals reported Q1 2007 results highlighted by $175-million (U.S.) in private placements and the discovery of three new sea floor massive sulphide systems in Papua New Guinea.
Neptune Minerals has been granted four exploration licences covering 326km² in Papua New Guinea's territorial waters near Lihir Island, including Conical Seamount.
Nautilus Minerals discovered three new seafloor massive sulphide systems, Solwara 5, 6 and 7, near its Solwara 1 prospect in Papua New Guinea and completed environmental baseline fieldwork there.