I have been reading about Subsea resources, and I will be keeping an eye on the stock, as their first salvage operation is imminent, and it will be interesting to see what level of sucess they can achieve, measured against their expectations.



SubSea Resources has been formed to salvage cargoes from cargo ships that have been lost in deep water. Only a handful of wrecks have been salvaged in water depths exceeding 1000 metres, whereas hundreds have been worked on in depths down to 300 metres. The barrier to deeper work has been a lack of technology, which is now available mainly due to developments in the offshore oil and gas industry.

Sonar scan of wreck

SubSea Resources has identified at least 70 commercial salvage targets and has identified twenty major target vessels containing cargoes with a gross value of over $450 million (based on recent LME metal prices and contemporary lading records). In the first phase of the companys business plan it aims to raise the cargoes from six of these vessels over the next three years.


In addition, it is anticipated that certain historic cargoes may be integrated with the commercial salvage operations. Some of the historic targets have potential values of many millions of dollars each, bringing the combined value of identified historic and commercial targets to well over $1 billion.




Initial Salvage Targets

SubSea Resources has an initial programme to salvage the cargos of six commercial wrecks in the period to 31 March 2008. The gross value of these six wrecks is estimated at US$180 million.

The wrecks allow for a mix of weather conditions - allowing for both northern summer and winter working conditions. All wrecks are in international waters and all of the cargoes will be recovered through contracts with the legal owners. The water depths range from below 1500 meters to 5000+ meters.




Corporate website : http://www.subsearesources.com/index.php

hlyeo98, I see you've read my post about war graves.

Surely if there's a car crash you don't let the wreck just lie there. You remove the human remains and give them a burial. Then the non-human remains can be recovered and sold to the highest bidder.

If there's an earthquake, you recover the bodies from the houses which fall down, then you clean up the site.

If you like, the site of a seabed wreck can be designated as a grave (not just a war grave because this would exclude deaths in peacetime) until any human remains have been removed. After that it can be designated as a salvageable wreck. The effect of this is that the company doing the salvage would first have to locate and remove all human remains for burial elsewhere.

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It's all-irrelevant this company has gone tits up punters have lost money, there is no moral high ground here. There will always be money made out of the dead look at Diana.

Lets just say we hope they dont run another AIM company or cross our paths again.

Ric Piper is to blame for sure and make sure he does not run any more companies