TSX-listed ocean floor miner Nautilus on Tuesday announced that president and CEO Mike Johnston had resigned with immediate effect and that independent director John McCoach had taken over as interim CEO.
Nautilus chairperson Tariq Al Barwani thanked Johnson for his long service with the company, noting that he was one of the original members of the Nautilus team with the vision that the future of mining would include the seafloor.
Interim CEO McCoach would continue to advance Nautilus’ ongoing capital formation programme, Barwani said.
“I am confident that Nautilus’ senior management will continue to operate the Company in a professional manner, and the entire Nautilus Team will see us through to our vision of becoming the world’s leading seafloor mining company”.
Nautilus is advancing the Solwara 1 project in the territorial waters of Papua New Guinea. Its development includes the recovery of high-grade seabed sulphide deposits from the floor of the Bismarck Sea, a major resource of base metal sulphides, gold and silver.