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Nautilus Minerals Inc (NUS.TO), which fell 13% and nearer to a year low 92 cents yesterday, has recovered near 3% this morning.

Nautilus expects to resolve an ownership dispute with Papua New Guinea over its Solwara 1 underwater mine after the country's national elections, which start on Saturday and run for two weeks, the company's chief said on Thursday, Reuters reported.

According to the report, Nautilus says it also expects to have a financing plan in place within the next month to fund construction of the project's support vessel after the miner's European partner scaled back its investment in the ship, which will be the operations base for the seafloor mining project.

Once the ownership and financing issues have been resolved, the copper and gold project will move forward, CEO Stephen Rogers told Reuters, noting that construction of the underwater mining infrastructure is progressing on schedule.

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