Solwara 1 project

THIS is in regards to Solwara 1 project.
There is no point for the government of Papua New Guinea to say it has no plans to revoke the license of Nautilus Minerals after it was announced that the company will be delisted from the Toronto Stock Exchange.
One of the major function of stock exchange is that it has control on companies.
The companies listing their securities in the stock exchange has to submit their annual report and audited balance sheet to the stock exchange.
Thus, only genuine companies can function and have the shares transacted.
So, if the TSX announces the delisting of Nautilus, this simply means that this company is broke and in a verge of bankruptcy.
Why do our government have to keep those licenses? Do we have to keep these licenses as luring tool to attract other developers? I think the timing is right for our government to rebuke, cancel or terminate those existing licenses granted to Nautilus.
The company has failed to meet the exchange’s listing requirements.
The delisting follows a sustained period of financial trouble for Nautilus. Are we afraid of losing that 15 per cent lousy equity stake in the Solwara 1 project?
Can the mining minister Johnson Tuke tell us why he said the government and the Mineral Resources Authority won’t be revoking Nautilus’ mining license?
Why is he leaving the door open for resurge or inviting other alternate developers. In general, our leaders are blind and can’t realize that developed countries are using our land as a testing ground.
Experiment is a test under controlled conditions that is made to demonstrate a known truth, examine the validity of a hypothesis, or determine the efficacy of something previously untried. This development is in a process of what we call test, trial, investigation, venture, demonstration, observation, try-out, assay, trial run, scientific test, dummy run, research, analysis, experimentation trial and error.
It’s better to prevent than to say sorry. The State should seek compensation and terminate all active licenses as we don’t want our sustainable marine eco-systems to be destroyed.

Hanam Bill Sandu
Anti-Seabed Mine