Michael Bailey has retained True North Advisers to advise on his takeover bid for Nautilus Minerals and negotiate terms with the Papua New Guinea government.
Michael Bailey's family office has launched a hostile all-cash tender offer for all outstanding Nautilus Minerals shares at 97 cents each, a $237.99-million deal.
Michael Bailey's family office launched a hostile all-cash tender offer for all outstanding shares of Nautilus Minerals at 97 cents per share, valuing the deal at $237.99-million.
Afri-Can Marine Minerals began a sampling program on Dec. 2, 2012 on its EPL 3403 marine diamond concession in Namibia, targeting a minimum of 250 samples.
Afri-Can Marine Minerals Corp. plans to start a sampling program on EPL 3403 offshore Namibia around Nov. 25, 2012, extracting at least 250 five-square-metre samples over a minimum of 14 days.
Nautilus Minerals released Q3 2012 results showing $90.9 million in cash, a completed private placement, a CEO change, and termination of the Solwara 1 equipment build.
Nautilus Minerals has terminated construction of the seafloor production system for Solwara 1 and cut about 60 jobs amid a cost dispute with Papua New Guinea.
Afri-Can Marine Minerals completed analysis of a May 2012 geophysical survey on its EPL 3403 marine diamond concession in Namibia, delineating a new 18-square-kilometre prospecting target.