Nautilus Minerals NUSMF (NUSMF)

[Getitgogone]

maui4marko post May 10th,2014 10:59 AM

This question from seaminer2 deserves its own thread:

"Are there concerns among technically knowledgeable observers that the pump and raiser could pose serious engineering challenges? I would have guessed that any issues with getting these systems to work smoothly might delay the project by some months or a year at worst. Some perspective on the technical side of this matter would be most welcome."

Seaminer - check out slides 10 and 11 from the London conference in December: http://www.minesandmoney.com/london/wp-content/uploads/2013/12/Nautilus-Minerals.pdf

You can see the test loop for the subsea slurry lift pump (SSLP). They are currently enhancing the test environment and then will be running the pump continuously for the next 2 years until the vessel is ready for equipment integration. This will test the durability and longevity of the pump. Slide 11 gives perspective on the size of the unit. It's huge, on the same scale as the seafloor production tools (slide 8).

And from April's company presentation http://www.nautilusminerals.com/i/pdf/2014-April-Webcast-Presentation.pdf Pump: slide 5 indicates that full scale loop testing to commence Q2 2014 with delivery
expected by mid 2016.

Per that same slide "Riser system: 50% complete. Delivery expected by Q1 2015".

Although there are risks with the pump & riser, the bigger risk to first ore is the vessel and financing