07-18-2019, 01:21 AM
From my reading this is a procedural step for Kumul Minerals (PNG) to protect it's future interest in Solwara 1 and recover the 53 million it has already invested from the Nautilus' Niugini Limited entity.
Nautilus Niugini Limited is one of the legal entities under the Nautilus Minerals umbrella (org chart). From the last monitor's report NML is the group that Nautilus wants to EXCLUDE from its restructuring.
What this actually means I have no idea. My speculation is that they are trying to ditch NML and it's debts / obligations leaving the restructured Nautilus Minerals parent company.
I still want to believe our shares will survive..
Nautilus Niugini Limited is one of the legal entities under the Nautilus Minerals umbrella (org chart). From the last monitor's report NML is the group that Nautilus wants to EXCLUDE from its restructuring.
What this actually means I have no idea. My speculation is that they are trying to ditch NML and it's debts / obligations leaving the restructured Nautilus Minerals parent company.
I still want to believe our shares will survive..