The loan is made under the previously announced loan agreement between Nautilus, two of its subsidiaries and Deep Sea Mining Finance Ltd.
Deep Sea Mining Finance Ltd is providing Nautilus a secured structured credit facility of up to US$34 million (K105 million).
The loans will fund the Company's working capital requirements to continue the advancement of the Solwara 1 Project while the Company seeks the remaining project financing of up to approximately US$350 million to complete the development of the project.
