7 million oz's of silver found at the bottom of the ocean

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PostMon Sep 26, 2011 8:17 pm » by Savwafair2012


So much for the silver stock :flop:


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TAMPA, Fla.—Odyssey Marine Exploration Inc. on Monday said it confirmed the identity and location of a World War II-era shipwreck believed to be carrying 7 million ounces of silver.

Tweet Be the first to Tweet this!ShareThis The SS Gairsoppa, a British cargo ship torpedoed by a German U-boat in February 1941, is sitting nearly 4,700 meters, or 15,419 feet, below the surface of the North Atlantic, about 300 miles off Ireland's coast in international waters. The 412-foot ship was operating for the United Kingdom Ministry of War Transport. Records say it was carrying silver valued in 1941 at approximately 600,000 British pounds.

Based on Friday's closing price of $30.10 per ounce, the trove would be worth more than $210 million today.

Odyssey Marine said it would be "the largest known precious metal cargo ever recovered from the sea."

The salvage agreement signed last year with the United Kingdom Department for Transport calls for Odyssey to retain 80 percent of the net salvaged value of the silver recovered.

The company said it recently collected video and photographs from the site using a remotely operated vehicle, which it used to confirm the identity of the shipwreck. It is now working on plans to recover the treasure, with operations expected to begin in the spring of 2012.

"Given the orientation and condition of the shipwreck, we are extremely confident that our planned salvage operation will be well suited for the recovery of this silver cargo," said Andrew Craig, the senior project manager. He noted that most of the ship's crew did not survive the journey to shore aboard lifeboats that were launched before the ship sank.

Odyssey CEO Greg Stemm said the company is confident the salvage can be conducted on a timely basis despite the potential complexity due to the depth of the shipwreck. "We were fortunate to find the shipwreck sitting upright, with the holds open and easily accessible. This should enable us to unload cargo through the hatches as would happen with a floating ship alongside a cargo terminal."

http://www.boston.com/business/articles ... reck_find/

http://www.washingtonpost.com/business/ ... story.html
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PostMon Sep 26, 2011 8:33 pm » by The57ironman


what was British cargo ship doing with 100 tons of silver in February 1941...?

..that's what i wanna know.......
.






..... If you can't be kind, at least have the decency to be vague.......
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PostMon Sep 26, 2011 8:36 pm » by Fatbastard


Sav, how do you do it. You must "Trowel" for info, or does it falls into your lap. Great post. :dancer:
"Senator. I am not now, nor have I ever been, an oil trader, and neither has anyone on my behalf. I have never seen a barrel of oil, owned one, bought one, sold one, and neither has anyone on my behalf."

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PostMon Sep 26, 2011 8:37 pm » by Atomant77


Oh yeah, read about this... and a bit of looking up on their website reveals Bradford B. Baker amongst its management. Read his background bit (and by all means all the others) here:http://www.shipwreck.net/managementteam.php

Not surprised the deal is at 80% keep of findings for Odyssey!!! Not surprising at all. Furthermore, this company is at war with Spain over the finding of more silver off the Gibraltar coast http://en.wikipedia.org/wiki/Odyssey_Marine_Exploration.

I'm seething! So the same Greedy, fucking, banking, corporate wankers... raiding every ounce of gold and silver in the world they can no matter where it is.
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PostMon Sep 26, 2011 8:40 pm » by Fatbastard


the57ironman wrote:what was British cargo ship doing with 100 tons of silver in February 1941...?

..that's what i wanna know.......

Taking it to Canada for safe keeping. :dancer:
"Senator. I am not now, nor have I ever been, an oil trader, and neither has anyone on my behalf. I have never seen a barrel of oil, owned one, bought one, sold one, and neither has anyone on my behalf."

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PostMon Sep 26, 2011 8:52 pm » by -Marduk-


fatbastard wrote:
the57ironman wrote:what was British cargo ship doing with 100 tons of silver in February 1941...?

..that's what i wanna know.......

Taking it to Canada for safe keeping. :dancer:

Marduk2011 eh?
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PostMon Sep 26, 2011 8:59 pm » by -Marduk-


Kiss zis account goodbye, FatAssMcBitchWhale

eheheh

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PostMon Sep 26, 2011 9:02 pm » by The57ironman


marduk2012 wrote:Kiss zis account goodbye, FatAssMcBitchWhale

eheheh

:twisted:

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PostMon Sep 26, 2011 9:04 pm » by Fatbastard


marduk2012 wrote:
fatbastard wrote:
the57ironman wrote:what was British cargo ship doing with 100 tons of silver in February 1941...?

..that's what i wanna know.......

Taking it to Canada for safe keeping. :dancer:

Marduk2011 eh?

That was quick. I gave you a head start this afternoon. Genegnome, Ulosiss, Marduk2011, Now a name, picked out of frustration. My first name is, Genegnome. I've nothing more to say in my defence. Well I do, but we would be here all night. "Guilty as charged." I await your sentence. :dancer:
"Senator. I am not now, nor have I ever been, an oil trader, and neither has anyone on my behalf. I have never seen a barrel of oil, owned one, bought one, sold one, and neither has anyone on my behalf."

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PostMon Sep 26, 2011 9:11 pm » by -Marduk-


There will be no debate, double accounts not allowed ...end of story.

Stop cryin like a bitch or your fatzo account will get a perma ban too.

:twisted:
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