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Vessel cranes contract awarded

Continued progress may be dull and uninteresting to most, but those of us in the know understand each step brings us closer to first ore...

 Toronto Ontario, April 9, 2015, 2015 - Nautilus Minerals Inc. (TSX:NUS, OTCQX: NUSMF ) (the "Company" or "Nautilus" ) announces that the order for cranes to be used on the Company's production support vessel has been awarded to MacGregor, headquarter in Kristiansand, Norway. This is the third major long lead time equipment package to be awarded by the shipyard, Fujian Mawei Shipbuilding Limited.

Mike Johnston, Nautilus' CEO, commented, "We are very pleased to have such a world class supplier providing key equipment for use on our Production Support Vessel. The cranes are an essential component in ensuring operations can be performed safely across all of our large working deck areas. The 2,500m depth rated heave compensated main crane also provides critical lifting support to our subsea operations at the mine-site. We look forward to reporting on the progress of this equipment as we move closer to production in 2018."

About the Cranes

The order for cranes consists of two knuckle boom units.The first crane is a large 200t SWL crane with 2,500 metre water depth capability and equipped with active heave compensation. The second crane is a smaller 100t SWL auxiliary crane to support back deck and ship to ship operations.

Knuckle boom cranes are preferred for offshore use due to their inherently compact dimensions and ability to reduce the effect of ship motions on suspended loads. The large active heave compensated crane will also be capable of deploying and recovering various items of mining equipment directly to and from the seafloor. Both cranes will be used to load stores, spares and support the maintenance of shipboard SPTs and other items of production equipment during mining operations.

The cranes are due to be completed and delivered to the shipyard for integration by Q1 2017.

About MacGregor

MacGregor, headquarter in Kristiansand Norway, provides integrated cargo and load handling solutions and services for the maritime transportation and offshore industries throughout the world.

MacGregor serves its customers with solutions that integrate cargo access, stowage, care and handling functions to suit a particular ship's cargo profile. This benefits the vessel's productivity, environmental impact and profitable service lifetime. MacGregor's sales totalled EUR 1,034 million in 2014 and MacGregor employs approximately 2,700 people. MacGregor has personnel in 33 countries with more than 70 offices. (


Thank you Marko to keep us up with the latest news
I wonder why I can not post a topic and can you be so kind to dig into the financing possibilities until the ship is in service.
I like to know what the most likely scenario for financing AFTER the funds are running out in 12 months or so...
Still roughly 2 years until production to bridge.
With the current burn rate we are short around 200 Million $
A huge number and we make better sure what we have to expect from these guys...
Thank you so much and please let us discuss this important issue


Shouldn't the cash burn rate fall after the 3 SPTs? These 3 should be the most expensive parts.

In about 2 months PNG must take it's next 5% - June will be a very important month


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