Nautilus gaining more visibility as the march toward first ore continues...
Seabed mining is just beginning to hit the radar screens of institutional mining analysts with big-name buy-side funds. Analysts are coming to realize that seabed opportunities offer the potential for much higher returns than land-based mines, and that becoming involved early will yield the greatest upside. Though the commodity cycle is not favorable right now, and there are still plenty of challenges ahead for this sector (as witnessed with the Chatham Rock refusal), there is little doubt that fundamental economic forces will turn this into an industry over time. Many institutional investors can afford to take the long-term view, and will see OMEX as an inexpensive play on this trend.
The early success of Nautilus Minerals (NUS.to) with its large mining backers, Teck Resources, Anglo American, and Metalloinvest, is paving the way toward the institutionalization of the subsea mining segment. Nautilus has already gained environmental consent for its large-scale (at least for subsea) Solwara1 seabed project, and was recently funded with a $120mn investment from the government of Papau New Guinea, in exchange for a fifteen percent equity stake in Solwara1. Nautilus's success will help to open institutional purse strings for the rest of the sector, and OMEX will benefit. Again, these are still early days for subsea mining, and a long-term investment horizon is required, but the progress is promising.
http://seekingalpha.com/article/3017136-odyssey-marine-exploration-whats-the-deal ;