December is right around the corner

[jeremiahj13]

Merry Christmas and Happy Thanksgiving to you all. A PNG opt-in would be a great Christmas gift for us all. With it being close;

is there any speculation on whether or not PNG will Opt-In the additional 5-10-15% ? I read somewhere NUSMF plans to do some fundraising next year, how would they do that? Selling girl scout cookies? " src="http://shareholdersunite.com/mybb/images/smilies/tongue.gif" />

[bobster]

Don't forget that PNG extended their deadline once already by 6 months from June 15, 2015 to December 15, 2015.  It seems possible that they could extend the deadline again, assuming that they want to opt in on the next 15%, which I think they do.  The govenments of PNG and Australia are having severe financial problems due to the huge drop in oil, gas, and gold revenues.  Oil is down to $40 per barrel from $100 not long ago, and gold is down 40%.  As a contrarian, I think this is a good time to buy shares if you can wait patiently for maybe a few years, because at some unknown point, metals will get more valuable for many reasons.

[woodrhino]

Politically PNG will have to extend their deadline or bail. They cut core services to the 2016 budget and the gov is getting a lot pressure for taking out 1.5 billion US for another resource play (OIL SHARES). Eda Kopa got the funding for the first 15% thru South Pacific Bank, but that was with a government guarantee. I don't think SPB will back another loan. Eda Kopa is now lumped in with Petromin's new oil and gas entity which stands alone apart from the the more distressed minerals sector. The new entity has the cream of PNG's revenue producers (oil and gas). There are revenues coming in from the LNG project which is at full capacity. BUT LNG and oil prices have cratered, so not a great incentive for banks to loan. If PNG balks, I think there may be some financing in the wings. SMD was bought buy the largest rolling stock manufacturer in the world, CRRC TEG. State own chinese company which is building a train manufacturing plant in Mass., USA. Huge pockets. I imagine Nautilus's machines may be SMD's profit in the future when China starts subsea mining in mass. It may be in CRRC interest to become a JV partner. I no longer think PNG is the major problem to be concerned about. NUS sits on a knife edge at this point. Any hickups on the shallow water testing or MAC financial problems will be even bigger huddles. And of course lets hope for commodities to recover prior to 2018. (NUS could sure use now the 10 mil lost in the idiotic cyber tranfer and the 12 mil deposit lost to Herren & Partner's bankruptcy.)

[seabedmining]

just some days to the 11. and what will happen...?

- i guess/hope that PNG take 5% and so 40 million to increase their stake  and will do this for the last 5%+ 5% in the next 3 or 6 month period

- the delay of the whole solwara-project is, from todays view, not the worst think what could happen to "us"

- now is the time to seed (invest) in new copper-projects, because after this depression of copper-prices and the dead of several producers the next upturn is absolutly sure - more people on this planet, less copper in the pipeline... price will increase

- the delay of payment was a clever move from PNG, because so they have NOT to pay the interest for this an save several million dollars - now PNG should act, perhaps another (short) extension but then they will be on the track again - don't forget that Chan (and others) visited SMD and were very impressed...

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at the end a statment from the prime minister - who say that this is not the money for solwara?!

Prime Minister Peter O'Neill passed this message on to mining and petroleum companies this morning at the opening of the 2015 Mining and Petroleum Conference this morning.O'Neill says the future looks positive in that the government is managing things through the budget by maintaining priority areas, including mining and petroleum sector are getting attention in getting important services, so the economy remains sound even through this time.

[saitham]

I got the gut feeling PNG will postpone the payment again. There is no reason for them to pay as Nautilus still got enough cash and they know Nautilus will not close the door. Nautilus wants and needs PNG in the boat for Solwara1!

Give me just one reason why PNG should pay now...

[seabedmining]

yes, but one day they have to pay (if they really want more %) and where is the timeline? after start of production? ;-)

with the delivery of the SPT I guess that NUS has to pay the next xy million dollars to SMD - the wet-testing is also not for free - so 11.12. would be the right time for the next 5%

but my guts tell me the same like yours...

[smac]

December is here. We should see an announcement either tomorrow (Thursday) or Friday. Am I violating some sort of "code of silence" or superstition in bringing this up? Look, private entities already own 60+ percent of this stock, and probably more by now. Through a separate agreement, PNG already owns another 15 percent of Solwara I costs/profits. Since they have already committed via their initial 15 percent investment, do we really need them to contribute another 15 percent? Someone is keeping the stock price down, which is easy given the low stock price and daily volume, and it is not retail investors. Hold onto your shares and enjoy the ride. Retail investors such as us are just along for the ride, but I like the company.