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Trading Halt
#11
I want to wait for the news before I make my guess.
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#12
Now we know. Kinda sorta looks like bankrupt but not. Must be a Canadian thing. Don't know if this means trading is suspended for awhile longer

http://www.nautilusminerals.com/irm/PDF/...anfacility
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#13
This is what I've said for years they were going to do. Get in debt to the two largest shareholders, then sell to the two largest shareholders to cover that debt.
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#14

'sycamoresouth' pid='82759' datel Wrote:Now we know. Kinda sorta looks like bankrupt but not. Must be a Canadian thing. Don't know if this means trading is suspended for awhile longer http://www.nautilusminerals.com/irm/PDF/...anfacility

Kinda sorta looks like bankrupt but not. Must be a Canadian thing.  Lol

 "Nautilus is not bankrupt and remains in possession and control of its business, while continuing to receive support in the form of loans from the Lender"  Yep, your right, its a Canadian thing.

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#15
So.... The company has its assets in two locations, China and PNG.. Good luck to any investor to get their hands on them... A lot more pain to come...
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#16
LOL. Yes SS, before any chapter 11 we have our traditional Maple Syrup Pouring Ceremony along with the much anticipated beaver tail paddling. These things take time! But come on, it's worth it to see all the exec's lined up covered in sticky goo while getting their butts whacked for their financial floundering. Surely, you must have some US equivalent!

This tidbit (Canadian: timbit) of news looks pretty straightforwardish to me. They are restructuring. They have successfully filed for creditor protection (read: this is what they have been busy with for the last month or two and couldn't tell us about). They are selling assets to raise capital so that they can continue to function and not have to rely solely on the secured loan facility. That's probably what Al Barwani Jr. and (where'd Usmanov's pitbull go?...DSMF) want instead of having to go to perspective papa's to ask for more money every month.

What is twisting my noodle is, what are these assets?! Polymetallic nodule business unit and its seafloor massive sulfide business unit? Where have these business units been all my life!!! Isn't the 'SMS unit' Nautilus? If it is a portion the are selling then fantastic, we are rolling. If it is all of it then... unsmiley face. What is worry me is not seeing 'Trade Resumption'. Better be freakin' resump'd Monday. As for PPS guess? It is a tough one since they haven't disclosed their critical path for the restructure. What would happen to McDonald's if they sold off their "restaurant" unit? So with the ambiguities of "evaluating a RANGE of alternatives" and "sales of non revenue generating business units". I dunno... flat? There has been a big invisible thumb keeping this stock at 5 cents (CDN) for a while now. I don't like that.

What happened to Horn's incredibly jackpot backed directive to find a suitor?
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#17

(02-23-2019, 07:08 AM)KingKongFong Wrote: This is what I've said for years they were going to do. Get in debt to the two largest shareholders, then sell to the two largest shareholders to cover that debt.

I agree with you and have had the same feeling for awhile now.  With McCoach on board, either that will never happen or he will facilitate it happening with as little legal calamity as possible.  Class action, lawyers get paid off $20million, shareholders/plaintiffs get paid a faction of what is left. Pretty cheap for tanking a company so that you can own the whole thing.  How easy/hard is it to prove malicious and negligent inactivity?  It'll take years in the courts.  Monkey ;-) in that scenario is PNG.  In order to get rid of everybody then keeping PNG paid and in the game, well that would require some serious evil genius shady finagling.

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#18

'Monk3' pid='82764' datel Wrote:LOL. Yes SS, before any chapter 11 we have our traditional Maple Syrup Pouring Ceremony along with the much anticipated beaver tail paddling. These things take time! But come on, it's worth it to see all the exec's lined up covered in sticky goo while getting their butts whacked for their financial floundering. Surely, you must have some US equivalent! This tidbit (Canadian: timbit) of news looks pretty straightforwardish to me. They are restructuring. They have successfully filed for creditor protection (read: this is what they have been busy with for the last month or two and couldn't tell us about). They are selling assets to raise capital so that they can continue to function and not have to rely solely on the secured loan facility. That's probably what Al Barwani Jr. and (where'd Usmanov's pitbull go?...DSMF) want instead of having to go to perspective papa's to ask for more money every month. What is twisting my noodle is, what are these assets?! Polymetallic nodule business unit and its seafloor massive sulfide business unit? Where have these business units been all my life!!! Isn't the 'SMS unit' Nautilus? If it is a portion the are selling then fantastic, we are rolling. If it is all of it then... unsmiley face. What is worry me is not seeing 'Trade Resumption'. Better be freakin' resump'd Monday. As for PPS guess? It is a tough one since they haven't disclosed their critical path for the restructure. What would happen to McDonald's if they sold off their "restaurant" unit? So with the ambiguities of "evaluating a RANGE of alternatives" and "sales of non revenue generating business units". I dunno... flat? There has been a big invisible thumb keeping this stock at 5 cents (CDN) for a while now. I don't like that. What happened to Horn's incredibly jackpot backed directive to find a suitor?

They have significant polymetallic nodule holdings in the Clarion Clipperton Zone, most of which have had at least initial exploration (mapping). The SMS holdings include deposits in Vanuatu and Tonga. I would be ok with liquidating some of these to get capital for Solwara 1.

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#19
(02-23-2019, 08:23 AM)KingKongFong Wrote:

[

They have significant polymetallic nodule holdings in the Clarion Clipperton Zone, most of which have had at least initial exploration (mapping). The SMS holdings include deposits in Vanuatu and Tonga. I would be ok with liquidating some of these to get capital for Solwara 1.


That's what I'm thinking as well, the will sell the rights to some areas of the sea floor to which they have secured the mining rights already.

In 2011, Tonga Offshore Mining Limited (TOML), a subsidiary of Nautilus Minerals, was granted approximately 75,000 km2 in the highly prospective Clarion Clipperton Zone
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#20
Yes, but who are they going to sell it to? Only NUS has the tech to access it. Need a JV.
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