$500mil of Gold to be found in shipwreck from new marine salvage company?

[Golddiesel]

Does anyone have any familiarity with those oceanic treasure salvage companies?

I read some hooplah about what a few of these companies have produced and it seems that they turned out pretty profitable with their successes like (odyssey marine explorations :OMEX- and their troubles too). There is a (pink sheet) company that caught my eye, Marine Exploration INC: MEXP, whose opening inaugural press release claims to be preparing to investigate a lost Spanish galleon that sank over 300yrs ago in the Caribbean.

MEXP reports that there is a sum of $500+ million of projected salvageable treasure on the sea floor ready to be explored. I don’t see any details or timeframes on this exploration, but it appears to be a big deal according to what their press release is talking about. http://mexp.biz/news.html


What I’m wondering is what kind of impact would 20+ tons of uncirculated gold have on the global market? Or do those archaeological objects even hit circulation or are they just stored in somewhere in like a museum or someone’s private collection?

 

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[stevemc]

I read their press release earlier. Sounds like they are saying they are going to recover all the gold in the Caribbean! I say it is very vague, and they are just trying to sucker some people out of their money. They need to have a definite place or wreck, that they are planning on working. Not just the whole Caribbean!

 

[Golddiesel]

I read their press release earlier. Sounds like they are saying they are going to recover all the gold in the Caribbean! I say it is very vague, and they are just trying to sucker some people out of their money. They need to have a definite place or wreck, that they are planning on working. Not just the whole Caribbean!

Well if you were either digging or diving, on the trail of a hot spot of where you think the jackpot is, would you give out the GPS coordinates for the world to mingle with?

The Caribbean is a large sea, but not all that big for anyone to know (or atleast shipwreck enthusiasts) that there are a handful of spots where wrecks were known to have occurred. From the little I've known, The Dominican Republic/Haitian area have been the hotspots, and that's probably where they're looking..

 

[Darren in NC]

Golddiesel - as of this post you only have 4 posts - all of which are very pro-MEXP. And you just registered today. That alone makes you suspect of trolling for a pump and dump. I pray most on this forum are not so gullible. I have a feeling we know each other. I couldn't stand by and let it slide.

 

[ScottyLee]

lol...Salvor1 you only have 14 post and have been registered less than a month.

 

[jonnyrebel00]

Guys before you go accusing anyone of trying to sway people one way or another, answer the question he posed. If you didnt read his entire post there was a question at the end that says

What I’m wondering is what kind of impact would 20+ tons of uncirculated gold have on the global market? Or do those archaeological objects even hit circulation or are they just stored in somewhere in like a museum or someone’s private collection?

I didnt take it as trying to be swayed to buy anything. In fact i would like to know some peoples opinions on what they think that much gold would do to the market at this point.

 

[cliffscot]

Newport Mining has 20million oz of Gold reserves, almost all gold that has been mined is still in circulation. Gold is not used as much industrially as sliver or copper, therefore it mostly goes into bullion, coins, and jewelry. The effect of finding 20 tons of gold I would argue is not that much, since most of its value is its historic or antique value. The old coins are worth more than just the value of gold.

 

[Golddiesel]

Golddiesel - as of this post you only have 4 posts - all of which are very pro-MEXP. And you just registered today. That alone makes you suspect of trolling for a pump and dump. I pray most on this forum are not so gullible. I have a feeling we know each other. I couldn't stand by and let it slide.

\

Darren, and to any other nay-saying, slanderous, finger pointers out there. You obviously misunderstood me.
I am PRO-GOLD, SILVER, PRECIOUS METALS...etc PRO-investing... whether it be promoting the buying, selling, trading, mining, cultivation AND exploration of these materials. I'm am interested in whatever method(s) MAKE $$$.

I asked an objective question about the potential surplus of Gold/silver found and what happens to it? does it make market circulation? - This is a BIG deal to those of us that make a living at investing in this!! I came on here to get some view points on this.. Maybe I'm on the wrong forum to be talking about money and how it relates with to shipwrecks and gold?

As far as this deep sea treasure hunting activity goes, I am NOT experienced in this investing sector nor am I that familiar with the shipwreck treasure hunting industry as a whole either - other than what most of us with cable do, is watch discovery channel and watch documentaries on this stuff. - Although I've always had an interest in history and archeology, like most of the users here and I gotta say this stuff is fascinating. Although I've never followed this subject matter or knew if there was much or anywhere near the money that the Gold Mining companies are making.

Which leads me to say I JUST discovered this off a google search because I became curious after hearing what numerous people on couple of other forums were talking about. I wanted to check out what some of the enthusiasts of this industry are saying or WOULD think about this topic. I spend way too much time on the gold and investors forums reading what people saying about gold, and what stock is going to spike and who's going under, but there's absolutely nothing being talked about the marine salvage and treasure hunting industry. I'm looking into this subject matter like that of what I've done with the Precious metals mining industry..

Ultimately, With the Due Diligence I have done, I'm looking at the reality of a proposition like this -from the investors stand point.
I can see Burt Webber is a big name in this industry, kind of like Mel Fisher.
I'm wondering what impact does that have on this topic? How does his involvement improve the chances that something favorable will happen?
Again I don't know this and I haven't a clue.. that's what I wanna know what the experts that use this site think?
Secondly, With what I've read about Odyssey's/OMEX's predicament, and could the same thing happen to MEXP? And how does that affect profitability?

Many people had to have invested in OMEX for them to get where they are. Isn't it fair to say that a new company like MEXP is going the same route? Objectivity is important in Due Diligence.

Furthermore to anyone out there who's critical on a subject matter, it doesn't make you look savvy OR credible at all when you slander a company based on speculation and biased judgment, especially when you give no reasons for your position on what a company can and can't do.. You have to go on the Facts and what implications they could have on the outcome.
Darren, It sounds like of all people may have been burned in the past by a combination of bad advice, and a gullible nature. Just to put it out there, what makes you so qualified in your assessment of this company? Or are you just the eternal skeptic who points fingers?

To any of those people who know the history and work ethic Burt Webber, do you really think he would get involved with a company that's aim is at fraudulently pumping and dumping their stocks and ruining his reputation? Use your brain on that one.

Now can anyone understand this point; before you spend a penny, you got to know what you're getting into. A prudent investor must investigate ALL angles possible before he makes an informed decision. I am an objective investor and I look at the facts before making a move.

You've definitely made YOUR VOICE clear in this matter Darren, where your opinions and view points stand of pinksheet companies and IPOs.

Let people make up their own minds

 

[Golddiesel]

You see, Thank you!

Guys before you go accusing anyone of trying to sway people one way or another, answer the question he posed. If you didnt read his entire post there was a question at the end that says

What I’m wondering is what kind of impact would 20+ tons of uncirculated gold have on the global market? Or do those archaeological objects even hit circulation or are they just stored in somewhere in like a museum or someone’s private collection?

I didnt take it as trying to be swayed to buy anything. In fact i would like to know some peoples opinions on what they think that much gold would do to the market at this point.

 

[Golddiesel]

Newport Mining has 20million oz of Gold reserves, almost all gold that has been mined is still in circulation. Gold is not used as much industrially as sliver or copper, therefore it mostly goes into bullion, coins, and jewelry. The effect of finding 20 tons of gold I would argue is not that much, since most of its value is its historic or antique value. The old coins are worth more than just the value of gold.

Sure, I'm aware of gold's uses, and how it's just mostly used non-industrial means. What I'm wondering if the treasure is released to the public and put into circulation, whether it be bouillon and coins, what would THAT do to prices? would that actually lower or value it?

Obviously finding a gold or silver coin (weighing an oz) stamped in 1690 from a smelting plant in Mexico or Dominican Republic is significantly worth more than what its market weight. And It would be a travesty to destroy the history - especially thousands of them.

But HOW and what methods do they use put a price tag on the history like that?

 

[Darren in NC]

Golddiesel,

I have been on this forum for about 9 years. Those who know me here know that I don't have a critical spirit or constant negative posts. Your emotional cry of slander doesn't fit with my reputation. In other words, if I have a word of warning, it means something.

You may be right. I may have misjudged the reason why you came to this forum. I'll admit that. But you'll have to admit that one ending paragraph in an entire post (and none in 3 other posts) about your concerns about a market flooded with new gold hardly seems to substantiate your quest. But hey, I'll give you the benefit of the doubt. I think your question pertaining to a flooded gold market is a good one. I hope you'll get more answers.

Just so readers know, I'm not a daytrader who's disappointed in losing a little money. I'm quite familiar with the risks of investing. As I've already said, there's more to it than that in this case. Those details will remain unposted until current events reveal their outcome.

I still stand by my words.

Respectfully,
Darren

 

[Canadian Cossack]

I don't watch the gold markets but did a quick internet search that list annual gold production (from mines) over the past decades. http://www.goldsheetlinks.com/production.htm

Here is what was mined in 2006 (it's in metric tonnes). Adding another 20 tons to the existing annual production of 2467 tonnes per year is unlikely to have much effect on the market, IMHO.

1. South Africa: 275mt (11.1%)
2. United States: 260mt (10.5%)
3. Australia: 251mt (10.2%)
4. China: 240mt (9.7%)
5. Peru: 203mt (8.2%)
6. Indonesia: 167mt (6.8%) (2005)
7. Russia: 152.6mt (6.2%)
8. Canada: 104mt (4.2%)
9. Papau New Guinea 66.7mt (2.7%) (2005)
10. Ghana 63.1mt (2.6%) (2005)
Other: 699mt
TOTAL: 2467mt

 

[rgecy]

Golddiesel,

Welcome to the forum. I think you will find Treasurenet a great place for information and hope you don't base your experience here off of this first post. You may have picked a bad topic to start out with.

Feel free to contact Darren or myself directly on the subject. If you are interested in investing in this company, we can put you in touch with the right people!

We both have experience in this venture and would love to share our knowledge with you and give you a few other people to contact before investing your money (or anyone else investing their money with this group). You can email or PM me directly through this website. I look forward to hearing from you!

As for putting a price on historical value, that is determined by the market demand, rarity, and prior sales. I am sure you already know this.

RGecy

 

[wreckdiver1715]

First off, I am not invested in MEI, Yet! so, please no one accuse me of pumping up a stock so I can dump it at an inflated price (I don't work that way). I am a long time investor, and have both won and lost money in the market, and I am currently invested in several marine salvage operations, some publicly traded and some not.
I am currently engaged in doing my homework on this company, and have not yet completed my personal risk assessment to determine if I will invest or not. I will add, that with any investment, be it a blue chip stock, or a small start up listed in the pink sheets. You always run the risk of loss of your investment. In the shipwreck salvage business, it's just plain risky. So if you don't have the stomach to watch the stock rise and fall on a whim, then you may want to consider a good established mutual fund.
If you are a short term investor, you can make some fast money if you time it good, and that's a big if! For me, I prefer the long term approach. Consider this, my initial investment in one of the more successful marine salvage companies was back in 2002, and was being traded at $0.15 cents a share (also in the pink sheets at the time), and a very risky investment. Yesterday they were up 5.14% to close at $5.93 a share. 8) Down from it's highest, but I have still made a healthy profit to date.
On the other hand, another marine salvage investment I made at $0.02 cents a share closed yesterday at about $0.008 a share However, I will stick with them, and depending on my continuous Intel gathering, may even increase my position with this company to take advantage of the lower cost per share, but have not yet decided.
The bottom line is that I don't think that if I talk up a stock on this or any forum or blog that I have the power to have much effect on the value of any company at the close of the trading day. For operations such as this you have to add a little faith based on the company reputation. In this case the company does not have a reputation good or bad. However, Burt does. He is a well respected treasure salver that has done well for those who have invested with him in the past, except for that one time a few years back, and that was because he went into business with some unsavory characters. I am sure that Burt did his homework, and a background investigation on these folks, so as to not have a repeat of that event.
The price of precious metals like gold and silver are both at record levels today and a influx of rare coins will not have any effect on these prices. However, the value of other precious old coins could drop with a sudden large influx of similar dated coins. This has been a concern for treasure salvers dating back to Kip's discovery of the 1715 fleet, and Mel's finding of the Atocha, and will always be a concern when large amounts of rare coins are recovered and put on the market at the same time.

Tom

 

[rgecy]

Just do your homework and check out everything!

If you want info, just PM me or Darren. This is not gossip, and it will not be discussed here on the net!

RGecy

 

[rgecy]

Ha! I beat you to it TOM! You didn't post whatever you were going to say quick enough! Maybe you were looking for this?

 

[tom yerian]

Robert, I recognize that guy in on the left in your second photo, but his name is not known to me as Tom. Hey, buddy, this is real cool, Thanks...Tom

Tom

 

[wreckdiver1715]

My bad Tom! You look like someone else that I know.

 

[shipwreckhunter101]

HA, I am new to this site, and I have to tell you that this is by far the most entertaining thread I have read yet.
This topic does invoke a lot of emotions...it plays on our deepest fantasy and fears, the big score vs the big scam.
I will say I have been involved as an investor and have held many positions in many sectors over the last 20 yrs, and none have been as risky or exciting (except the dot.com bubble) as investing in this sector.
However, as a fellow hunter I am also aware of the professionalism that surrounds this field, and I must encourage the support of such standards...I believe Burt Webber has done justice for our field. I can't state strongly enough how much I am disgusted by pump and dumpers like Mr. Blum (I don't know if I'm allowed to slam others here, but if you know which company I'm talking about, then you get it).
Is MEXP going to come through, who knows? I do know that Mr. Webber has a winning track record, and that he values his reputation. So, I am watching this stock, the jury is out on this one, I don't necessarily think that that golddiesle guy was pumping this either. Its amazing how people get so edgy when someone declares an opinion, isn't it?
TJ

 

[Darren in NC]

Welcome to the forum, TJ. Glad to have you aboard.

Allow me to respond to your above post about being edgy. First of all, I am edgy and it has nothing to do with anyone declaring an opinion. I love opinions. That's what forums are all about. If you'll read reply #13, last paragraph, you'll see that I have clearly stated my reasons for edginess. I'll be the first to admit I jumped on Golddiesel before I found out his reasons for being here. My bad. Call me edgy. If you'd like to invest in some swampland I have, I'll be glad to take your money. But please don't get edgy about it

All the best,
Darren