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EuroJohn,
I believe Nautilus will need to pay $8MM upon delivery of the ship. They have a reduced day rate during shakedown and then they will pay the full day rate (~$200K/Day) while in production. This is a similar rate to DP drill ships of the size and scope. So, They don't need to spend the $300MM or so to pay for the ship upfront. The only caveat being that after next year Nautilus can't cancel their plans without being liable for the ship costs.
I think they will still need to raise some capital but, no where near as much as if they had to pay for the ship outright. I think most of the robotic machinery, riser and some of the pump has been paid for (this is from memory so, I don't swear it's completely accurate!). They will need some additional OPEX and reserves for commissioning everything and for getting through first ore. Hopefully Shontel (CFO) will be able to provide a clearer spend plan during the upcoming conference calls this year.