trending Market Intelligence /marketintelligence/en/news-insights/trending/ywoysleudkd48vgbujdb0a2 content esgSubNav
In This List

Nautilus moves to nonexclusive finance mandate as funding woes continue

Blog

Insight Weekly: US stock performance; banks' M&A risk; COVID-19 vaccine makers' earnings

Blog

Insight Weekly: LNG exports surge; investors unfazed by inflation; neobanks drive VC funding

Blog

Essential Metals Mining Insights November 2021

Blog

[Infographic]: 2021 World Exploration Trends


Nautilus moves to nonexclusive finance mandate as funding woes continue

Nautilus Minerals Inc. amended its funding agreement with M. Horn & Co. Ltd., switching to a nonexclusive arrangement as the mining hopeful continues to seek project financing to complete the development of its Solwara 1 copper-gold project, part of its Solwara concessions off the coast of Papua New Guinea.

The company engaged M. Horn & Co. as sole financial adviser in early January, targeting project financing of up to US$350 million, and went on to flag the funding issues earlier in May, warning of a possible delay in initial production from Solwara 1 beyond the third quarter of 2019.

Nautilus said May 14 that the revised agreement, which expires Jan. 8, 2019, will allow for more options and flexibility.

The company remains in talks with various third parties and financial advisers as it considers various financing structures and alternatives.