Nautilus Minerals: State Nominee’s Option
15.12.2015
Nautilus Minerals Inc. (TSX:NUS, OTCQX: NUSMF, OTC:NUSMF Nasdaq Intl Designation) (the "Company" or "Nautilus") announces that the Independent State of Papua New Guinea’s nominee, Eda Kopa (Solwara) Limited (“State Nominee”), the Company’s joint venture partner in the Solwara 1 Project (“Project”) in Papua New Guinea, has elected not to exercise its option to take up to a further 15% interest in the Project.
Nautilus and the State Nominee, which maintains a 15% interest in the Project, continue to work together to complete the seafloor production system to be used at the Project site when mining is planned to commence in Q1 2018.
Location: Papua New Guinea