Shipyard notifies Nautilus of default by major contractor

[Chrispy]

SO explain why the price increase today?

[DeepBlueMarine]

Extremely low volume penny stocks tend to move often times on no or insignificant news at all. I think mentally it is just easier to take a chance on buying 10,000 shares of a penny stock instead of buying a single share of say AMZN (Amazon). I won't read too much into volume until it reaches several millions of shares per day. At a minimum I'd like to know that I could liquidate my position in a minute if I wanted. There hasn't been a trading DAY (much less a minute) in a LOOONG time that would allow many people on this board to liquidate their position. This causes and will continue to cause extreme volatility. I look forward to the day where I could sell half my position into strength in one click. Maybe hopeful wishing but I'm long until the end 

SO explain why the price increase today?

[cmilteer3]

OK, so the first thing we need to know is: Has MAC chosen not to make the payment, or is it UNABLE to make it. In other words is the company that is paying to build the ship and lease it to NUS struggling or is it simply negotiating.

Another consideration to keep in mind is that the shipyard is a Chinese Government-owned entity -- and the Chinese government is on the record as being VERY interested in the business that this ship is designed to be leading edge technology for.

So, let's see, we've got a Canada-based company that has most of its operations in Australia and Papua New Guinea that is primarily owned by a couple of billionaires, one Omani and one Russian. This company has a fraught business relationship with the government of the country in whose territorial waters it hopes to operate and has aroused the ire of a host of NGO actors -- some of whom are surely motivated by passionately held environmental concerns, but others who just as surely are hiding behind political or simply mercenary objectives.

Gee, what could possibly go wrong?

[Monk3]

LOL cmilteer3. Nicely put.

Yes, one or two people sold their positions or reduced them on the news. Therefore the activity. Someone(s) is playing this in small profit cycles between ($C) .17 and .20. Small potatoes as mentioned earlier. Totally agree with DeepBlueMarine. Jerry, if they go private it will not be for 17 cents dude. I'm already worried about the legal screw ups NUS has made.

MAC's contract stated that build would stop at hull completion if funding had not been arranged by June/July. For some reason they kept going (Yay!) but now have stopped (Boo!). Maybe, like the rest of us, they would like to hear some news about financing vs. the void with inferred hand-sitting for the last year and a half.
Usmanov and Al Barwani are not going to lose their entire investment. So I feel relatively safe. It just means more delay. My God, more delays. Remember when Ore 2013 was just a couple years away?!

IMHO, they are working their butts off with DSMF structuring a deal. MAC doing what they said in the contract is not surprising in any way. Pumped to find out soon. Not pumped to find out the delay.:-( My wife is going to kill me if I tell her another year past first half 2019. BUT! If they secure financing even with a delay. NUS is a done deal, everyone will make lots of money and FINALLY get paid off for the extremely long wait. 13 year wait so far for me. That's a long time...

[dustbash]

LOL cmilteer3. Nicely put. Yes, one or two people sold their positions or reduced them on the news. Therefore the activity. Someone(s) is playing this in small profit cycles between ($C) .17 and .20. Small potatoes as mentioned earlier. Totally agree with DeepBlueMarine. Jerry, if they go private it will not be for 17 cents dude. I'm already worried about the legal screw ups NUS has made. MAC's contract stated that build would stop at hull completion if funding had not been arranged by June/July. For some reason they kept going (Yay!) but now have stopped (Boo!). Maybe, like the rest of us, they would like to hear some news about financing vs. the void with inferred hand-sitting for the last year and a half. Usmanov and Al Barwani are not going to lose their entire investment. So I feel relatively safe. It just means more delay. My God, more delays. Remember when Ore 2013 was just a couple years away?! IMHO, they are working their butts off with DSMF structuring a deal. MAC doing what they said in the contract is not surprising in any way. Pumped to find out soon. Not pumped to find out the delay.:-( My wife is going to kill me if I tell her another year past first half 2019. BUT! If they secure financing even with a delay. NUS is a done deal, everyone will make lots of money and FINALLY get paid off for the extremely long wait. 13 year wait so far for me. That's a long time...

Wow, 13 years!  I was annoyed with my 4 year wait.  I hope the wait pays off!

[GGGGG]

  IMHO, they are working their butts off with DSMF structuring a deal. MAC doing what they said in the contract is not surprising in any way. Pumped to find out soon. Not pumped to find out the delay.

I agree they probably thought they had some sort of deal lined up.  The question is if NUS will do another share offering or other shareholder financing to get things back on schedule and to let lenders know they really aren't needed, assuming lenders really aren't needed.

[cmilteer3]

Har! Your wife will thank you eventually, Monk. Really. I'm sure of it. Gonna happen. ... More seriously, you and the other true long-timers make me realize that extreme patience is the only possible road to benefit in this journey ... After almost 7 years, I often wonder about being Charlie Brown to NUS's Lucy holding the football, but we're going to kick that thing eventually!