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

Hi Andy ..... Given that the company is highly speculative and thus may go belly up at some point, I am disinclined to put my own money there, though i concur it is an interesting one to watch

Excellent article out on SUB.The site is free to register.

http://www.proactiveinvestors.com/registered/articles/article.asp?SUB

Subsea Resources: Will the ship wreck hunters hit pay dirt this summer?
By Ian Mclelland

I know what you are thinking. This can't be serious. A ship salvage company?

That was exactly my impression when a Proactiveinvestors.com member emailed me with a blurb on Subsea Resources, and why I should take a closer look. As I have said many times before, any company which has a compelling story to tell will get our attention. What I found at Subsea Resources turned out be one of the most fascinating business models I have ever seen.

h.hairettin,#

Yes that's an interesting article, and it will be interesting to follow the SUB story as it unfolds.

Once the first salvage operation has taken place we will be in a position to judge their abilities and competence, and I feel we may hear something late June or early July, so not too long to wait.

This is super-size risk with possible reward ...... However, as a documentary-lover, I shall watch with great interest to see how SubSea progress, but assuredly won't be throwing any money in that direction, for it is more likely to end in Davey Jones's Locker than reap reward.

Cynic,

I would agree that the risk is high, but so is the potential reward IMO.

I certainly wouldn't invest the church spire restoration money in SUB, but I do take a few modest sized punts ocassionally, and I think this merits one of those in in order to retain an interest in the project.

I would be verty surprised if SS come up with any real results within the next 12 months ...... not to be confused that they make the odd announcement or two that they have found some very interesting sites (true or false!)

cynic,

Their first trial is imminent, if they succeed, it will be well within 12 months IMO.

Trials of this nature are be a long way short in time and actuality of coming up with the goodies, as with speculative oil test wells ..... Even having found the wrecks, which I am sure they have, to recover the juicy bits is a very long-winded and expensive exercise, with the relevant government almost certainly taking a very large slice of any profit ..... but a fun one to watch nevertheless

cynic,

To the best of my knowledge, the location of the wreck is confirmed, the equipment is already purchased, an experienced underwater salvage team assembled, and they have either set sail, or are about to, so we will soon know!

cynic

If you want to know more about SubSea take a look on the ADVFN thread, some very good research on there by a few knowledgeable posters. Your comments I'm afraid are flimsy to say the least, demonstarting a complete lack of your own research / knowledge and not worth posting. For the record I no longer have a holding in Subsea having become frustrated at the delays in beginning operations last year, however I do remain an interested bystander.

pth

I too am an interested if disinterested onlooker ...... My posting was on gut feeling and having seen over my long long life exactly how difficult, time-consuming, expensive and potentially disppointing this kind of venture is ..... If others want to research (objectively of course!) and put their money into this company, then that is their choice ... as is mine not to.

As for ADVFN, I confess I spent just 30 minutes in there a couple of months back but it seemed so full of backbiting, general rubbish and abuse, and little constructive or sensible comment that I have not bothered to go back there again.

cynic,

ADVFN certainly has it's share of wierd and strange posters, but Moneyam have at least kept it civil here.

I just wonder why there aren't more poeple posting here?

In the room or on this thread? .... Other than that, I agree with you; can't be bothered with sites which tend towards personal abuse

cynic,

I meant in the room, we have threads for nearly all the stocks that are popular with investors on other bulletin boards, so I would have expected a bit more vibrancy, especially as personal abuse etc is not tolerated here.

Sadly, the most vibrant BB, in terms of volume of posts, (not necessarily quality), is ADVFN, yet others such as MF, FBB, MAM, FYB etc that do not permit the outrageous behaviour that is permitted there are quieter.

I think a lot of the posts on ADVFN eminate from a very small group.

I am afraid that in all walks of life, noise whether positive or negative always emanates from the few while the great majority remain passive observers, even when interested in the outcome or whatever.

Cynic,

Interestingly, SUB has been tipped by Clem Chambers as a "BUY" today, in The Business!

So buy then if you haven't already!..... Confess I have more than enough high(ish) risk plays already in my portfolio, but shall enjoy watching this stock and its progress for I am fascinated by underwater exploration and all similar.

SUB have started their first recovery apparently.

news could be released anytime, and the price drop yesterday when the whole market tanked gives a decent buy point IMO.

A very interesting share this and a steady gain over the last few weeks.
Also a nice little comment in Shares Magazine yesterday "the shares should start to
jump with a spate of salvage plans on the horizon". Keep a look out on this as the
first 4500 tons of copper is coming up to the surface as I type. Well thats the haul
they hope to get anyway!

archies,

Absolutely, SUB are on the cusp IMO.