Nautilus Minerals: Board Visits Shipyard and Vessel Update

03-Jan-2016 to 03-Jan-2016

Nautilus Minerals Inc. announces that its Board members were in attendance at the shipyard of Fujian Mawei Shipbuilding Ltd to see the progress that has been made on its Production Support Vessel (PSV). The PSV is to be chartered by Nautilus and its PNG partner, Eda Kopa (Solwara) Limited, from Marine Assets Corporation. It will serve as the base for its seafloor operations planned at the Solwara 1 Project, in the Bismarck Sea of Papua New Guinea. Geoff Loudon, Nautilus’ Chairman, commented, “It is very rewarding for me and my fellow Board members to be here today to meet the shipbuilders and see the impressive construction progress being made on the PSV. The shipyard 3D modelling for production drawings continues with the yard having already released 90 blocks (out of total 305) for steel-cutting and assembly has commenced on 21 blocks. To date over 10% of the total steel cut has been completed which includes the cutting of 8 full blocks. This is amazing work that has been achieved and I look forward to December 2017 when we expect to take delivery of the vessel to enable us to commence our seafloor operations in Q1 2018.” Source: Nautilus Minerals