Directly from Johnston in the conference call:
- Government 5/5/5 options
- Negotiations with Tongling
- Design of de-watering system
- Further Asia partnership opportunities
First item is clear - to the extent PNG buys in further, Nautilus will receive ~$40/80/120M.
Second item is a bit murkier... just what are they negotiating? Is it further offtake of ore? Or could it be an equity investment by Tongling in Nautilus?
Third item - first time I've seen this come up. De-watering system might have some unknowns that could drive additional CAPEX?
Last item is speculative. Putting on the tinfoil hat I swiped from Monk, could it be China will look to shorten Nautilus' first mover advantage by buying some or all of the company? Johnston's quote:
“With the vessel build ongoing in China there are clearly significant opportunities for us, and we’re in discussions for further partnership opportunities in Asia.”
Thoughts on the above?