- AustraliaNorth AmericaWorld
Investing News NetworkYour trusted source for investing success
- Lithium Outlook
- Oil and Gas Outlook
- Gold Outlook Report
- Uranium Outlook
- Rare Earths Outlook
- All Outlook Reports
- Top Generative AI Stocks
- Top EV Stocks
- Biggest AI Companies
- Biggest Blockchain Stocks
- Biggest Cryptocurrency-mining Stocks
- Biggest Cybersecurity Companies
- Biggest Robotics Companies
- Biggest Social Media Companies
- Biggest Technology ETFs
- Artificial Intellgience ETFs
- Robotics ETFs
- Canadian Cryptocurrency ETFs
- Artificial Intelligence Outlook
- EV Outlook
- Cleantech Outlook
- Crypto Outlook
- Tech Outlook
- All Market Outlook Reports
- Cannabis Weekly Round-Up
- Top Alzheimer's Treatment Stocks
- Top Biotech Stocks
- Top Plant-based Food Stocks
- Biggest Cannabis Stocks
- Biggest Pharma Stocks
- Longevity Stocks to Watch
- Psychedelics Stocks to Watch
- Top Cobalt Stocks
- Small Biotech ETFs to Watch
- Top Life Science ETFs
- Biggest Pharmaceutical ETFs
- Life Science Outlook
- Biotech Outlook
- Cannabis Outlook
- Pharma Outlook
- Psychedelics Outlook
- All Market Outlook Reports
Nautilus Notified of Rescission of Shipbuilding Contract
Nautilus Minerals has reported that the contact for its production support vessel has been rescinded by the shipyard where it was being constructed.
Nautilus Minerals (TSX:NUS) has announced that it has been notified by Fujian Mawei Shipbuilding, the owner of the shipyard where Nautilus’ production support vessel (PSV) is being built, that they have rescinded the shipbuilding contract between them and MAC Goliath, the contractor engaged by Nautilus to procure the construction of the PSV on behalf of Nautilus.
As quoted in the press release:
The shipyard’s notice of rescission is in response to MAC’s failure to pay the third instalment of the contract price (~US$18M + interest). In its press release of December 11, 2017, the company reported that the shipyard had notified the company of MAC’s default. Notwithstanding the rescission of the shipbuilding contract by the shipyard, discussions are continuing and the company will issue further updates as matters develop.
Click here to read the full Nautilus Minerals (TSX:NUS) press release.
Latest News
Investing News Network websites or approved third-party tools use cookies. Please refer to the cookie policy for collected data, privacy and GDPR compliance. By continuing to browse the site, you agree to our use of cookies.