Former Companies

Nautilus Minerals said Soil Machine Dynamics has completed factory acceptance testing on the umbilical winches for its three Solwara 1 sea floor production tools.

Nautilus Minerals awarded Bedeschi SPA of Italy the contract for cargo handling equipment on its production support vessel, the second major contract issued by shipyard Fujian Mawei Shipbuilding.

Nautilus Minerals began commissioning and factory acceptance testing of its third and final seafloor production tool, the auxiliary cutter, at Soil Machine Dynamics' Newcastle upon Tyne facility.

Nautilus Minerals awarded Rolls Royce Marine of Norway the contract for engines and thruster packages on its production support vessel being built by Fujian Mawei Shipbuilding.

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.

Nautilus Minerals received $113 million (U.S.) from escrow as its joint venture with Papua New Guinea's nominee for the Solwara 1 project was formed.

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 chartered a support vessel from Marine Assets Corp for use at the Solwara 1 seafloor copper-gold project in Papua New Guinea.