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.
Diamond Fields International Ltd. is terminating its agreement with Afri-Can Marine Mineral Corp. and will independently develop the companies' Namibian marine diamond concessions.
AMF found Afri-Can Marine's NI 43-101 technical reports non-compliant, forcing removal of mineral resource and reserve disclosures pending corrected reports.
Nautilus Minerals reported unaudited Q2 2014 results, including resolution of its Papua New Guinea dispute and $36.5-million in cash as at June 30, 2014.
Nautilus Minerals reported unaudited first-quarter 2014 financial results, including $34.5-million in cash and progress on the Solwara 1 project and PNG agreement.