GREY:NUSMF - Post by User
Post by
ghayeson Mar 17, 2018 12:24pm
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Post# 27733534
Nautilus mentioned in The Economist 10 March 2018
Nautilus mentioned in The Economist 10 March 2018I saw mention of Nautilus in the Economist 10 March issue "Nautilus, a Canadian firm, says it will soon start mining the seabed in Papua New Guinea's EEZ for gold and copper, though at the time of writing the ship it had commissioned for the purpose sits unfinished in a Chinese yard". I am trying to see how this very small company could 'build' a deep sea mining production support vessel (PSV). Seems that the vessel is being build for the Marine Assets Corporation (MAC). A MAC describes the connection as "The PSV is to be chartered by Nautilus and its PNG partner, Eda Kopa (Solwara) Limited" . So NUS don't own the PSV. NUS only have some sort of option to rent the PSV when it is finished. In looking at the MAC website, they have a long list of other customers, so if NUS don't take the PSV, others will. So NUS is really just a construct to gather investors to finance the link between Papua New Guinea's government's license and MAC's PSV?. I don't see any hard assets. Looks like a long odds probability wager to me. I don't think I will 'invest' in this one, too many "IFs".