PAPUA NEW GUINEA - Vancouver's NAUTILUS MINERALS has successfully raised another US$100 million for development of its massive sulphide deposits on the seafloor. The company also raised over US$99 million late last year, and it has US$111 million in its treasury with which to bring the Solawara 1 project to production.
Nautilus will use its money to complete the detailed design and construction of sub-sea mining equipment including two mechanical miners, power umbilicals, pumps, a 1,800-m riser pipe, and related handling equipment. The company has also embarked on its baseline environmental studies for the project.
Learn more at www.NautilusMinerals.com.