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Trading Halt
#21
(02-23-2019, 01:19 PM)Monk3 Wrote: Yes, but who are they going to sell it to? Only NUS has the tech to access it. Need a JV.

How about Canada-based mining company DeepGreen Metals and its subsidiary NORI (Nauru Ocean Resources Inc.)?
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#22
Its unlikely given the complexity that anyone will buy into the company. Also, why would the Russians put in 5m if they didn’t have a plan. I also noticed that MDL has sued them (or threatened to) for misleading public disclosure.
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#23
Nautilus files for relief under the Companies’ Creditors Arrangement Act and receives additional loan under secured loan facility

https://globenewswire.com/news-release/2...ility.html
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#24
So, I'm no lawyer, but reading the draft agreement from the link provided, it certainly looks like the deal is that the lenders are getting permission to use the assets (leases, IP, perhaps the SPT machines, though it's not clear who owns them at this point, etc.) that technically belong to subsidiary companies to secure the loan to the umbrella corporation, a loan that Nautilus has, perhaps unsurprisingly, declared itself unable to repay.

Basically it looks to me like the agreement will allow the lenders (essentially Metallovest (Usmanov et al) and Marawid (Dr. Barwani, et al) through DSMF) to claim the assets, owned by subsidiaries in which only the umbrella corporation holds interest, should the umbrella corporation default on the loans (which it will have to, because it has no real assets outside of the subsidiaries, nor any cash flow from anything other than the loans).

This would allow the lenders (also, conveniently the main shareholders) to strip away the key assets and leave the corporation in which they (and we) own shares for dead.

When shares go to zero, we're out of luck. But while their shares will also go to zero as the corporation dies, they won't really lose out, because they'll already own anything of value, having claimed it quite legally when the loans are defaulted upon. Been hoping for a few years that it wouldn't come to this, but GAME OVER.

Deep sea mining is going to work someday soon using technology developed for Nautilus Mineral and it will make someone a lot of money, but it won't be the smaller shareholders of Nautilus Minerals, like us. Damn.
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#25
Is the game really over?

What's about the 120 millions from PNG - are they (PNG) also out in the case described by cmilteer?

What's the mission from McCoach? Bring Solwara 1 into production or save the money of MB and Metallo?

They are talking to reopend the Panguna Mine in Bougainville for 8.5 billion dollar - is there really no money for Solwara? - the 345 million are peanuts in the mining industry

Why was Johnston fired? - because he failed as CEO or because he didn't want to play a dirty game?

Nothing is said about the ship anymore!


So many questions and seemingly so much lost money... :-(
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#26
we need to take action here for all these years putting money into nusmf for them to ride us no thank you
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#27
Is trading halted until 28. of June?
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#28

Seabed mining project in PNG moves to sell assets 



"But the company is also being advertised for sale, including its Solwara 1 project in PNG. PwC are acting as solicitors." 

https://www.radionz.co.nz/international/pacific-news/383392/seabed-mining-project-in-png-moves-to-sell-assets

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#29

Can someone famliar with Canadian Law/Securities boil this down a little more for the layman like me? Does this essentially constitute a bankruptcy? Is there any potential value in these shares any more? I feel like the obvious answer is "NO" and that I should leave a sell order in place for all of my shares and hope I catch a penny but I'm afraid I don't really understand this particular  creditor protection and what it means for the small shareholders like us. Any help would be greatly appreciated.

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#30

https://www.pwc.com/ca/en/services/insolvency-assignments/what-is-ccaa.html

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