The loan is facilitated under the previously announced loan agreement between Deep Sea Mining Finance Limited, two of its subsidiaries, and Nautilus, which provides for a secured structured credit facility of up to US$34 million or K106 million.
The loans are being provided to fund Nautilus’ working capital requirements and enable the Company to continue the advancement of the Solwara 1 Project.
Nautilus continues to seek the remaining project financing of up to approximately US$350 million or K1.1 billion required to complete the development of the Solwara 1 Project.
