Bahamas
- Thread starter old man
- Start date
This a bit old but may have some general info for you
MEDIA RELEASE
For Immediate Release
January 20, 2000
Listed: CDN (Canadian Dealing Network)
Current Price: $ .60 (Can)
Symbol: VGLD
Shares Outstanding: 10,535,136
VISA GOLD EXPLORATIONS ANNOUNCES DISCOVERY OF ANOTHER SHIP WRECK
Toronto, CANADA - Paul Frustaglio, Vice-President of Corporate Relations of
Visa Gold Explorations Inc., is pleased to announce that the company's dive
team has found another shipwreck as a result of a virgin ballast stone pile
find. Excitement of the crew and staff of Visa Gold Explorations has been
heightened to a fever pitch with the two recent developments, which also
includes the most recent approval by the Cuban Department of Patrimony to
begin excavation of artifacts and treasure.
"This thrilling find of another intact ballast stone pile verifies the
final resting place of another ancient shipwreck," stated Vice President of
Operations Ed Burtt. After weeks of research Mr. Burtt has confirmed that
the ballast stone pile has not been disturbed since the ship sank in the
early 17th century. The Melian II scientific research analysis of
historical documentation has placed the 'French Balandra' of Don Juan Piti
at this exact spot of the found ballast pile. The 'French Balandra' ship
belonged to the 1711 fleet of the 'Almiranta Santissima Trinidad'. Mr.
Burtt has concluded that the computer analysis of the locations of the 4
other ships is highly probable after the finding of this first ballast pile
of the suspected 1711 fleet.
Initial dive investigations show many artifacts from the ship around and on
the virgin ballast rock pile. Ballast rock was used in sailing ships before
iron ballast or lead keels were invented. The presence of earthenware jugs
and ceramics on and in the ballast pile still intact makes the chances of
this being a virgin site highly probable and very lucrative. New
photographic evidence of the ballast pile and artifacts may be viewed on
the company's web site. www.visagoldexplorations.com
"Our extensive research of historical documentation show the 'Almiranta
Santissima Trinidad', the Kings appointed lead ship carried precious cargo
to be valued at 600 million, with the estimated potential of another 300
million of smuggled goods on board at the time of it's wrecking. We have
long anticipated this moment and we are very excited to continue our
efforts to uncover the treasures of Galleon Alley," stated the Vice
President of Operations.
Visa Gold Explorations Inc. is party to a joint venture agreement with its
Cuban partner, Geomar S.A., to search for shipwrecks in two areas in the
coastal waters of Cuba known as Galleon Alley. Visa Gold's principal
exploration targets are located west of Havana, where a fleet of galleons
went down in 1711.
For more information, contact:
Investor Relations: The Winfield Group
Tel: 416-745-9697, Fax: 416-740-7785; E-mail: winfield@iprimus.ca
LETTER TO SHAREHOLDERS (Annual Report 2000)
"From the discovery and salvage of the Palem?n to the expansion of our exploration territory in Cuba's shipwreck-rich waters, a string of successes in 2000 put Visa Gold Explorations on the map and positioned the Company for a dynamic future."
A Year of Building ? and Uncovering History
On behalf of the Board of Directors, we are pleased to present the 2nd Annual Report of Visa Gold Explorations Inc. together with the audited financial statements for the year ended December 31, 2000.
The year 2000 was one of great progress in the evolution of Visa Gold Explorations. While we entered the year in a tenuous situation, with an unstable management team, a lack of business discipline and deteriorating relations with our Cuban partners, under new management our turnaround was swift and the Company advanced on several fronts.
We restructured the organization, moved our headquarters to Toronto, Ontario, boosted our presence in Cuba and strengthened relations with our Cuban partners, Geomar S.A. A more aggressive and hands-on management approach was implemented and business fundamentals were incorporated into decision-making. Two financing deals in the form of private placements were completed in 2000, which allowed the Company to continue and expand operations, settle debts and legal claims and purchase new, state-of-the-art search technology.
In our exploration program, Visa Gold Explorations achieved two key milestones:
(1) The Government of Cuba approved the Company's request for another zone of exploration, near Santa Clara in the north. This addition gave Visa Gold a total of three search zones (previously the Company had two zones, Havana harbour to the Bay of Honda and the south side of the island around the Isle of Youth) and over 5,000 square kilometers of searchable area.
(2) We discovered the Palem?n, a Spanish-built brigantine that sank off the north coast of Cuba in 1839. Historical documents reveal that the ill-fated ship was on its return voyage to Havana from Europe with goods collected in England and France. Months of excavation and salvage at the wreck site yielded over 7,000 artifacts, ranging from gold jewelry, glass perfume bottles and ceramic jars to precious and non-precious stones. We showcased a sampling of the artifacts at the 18th annual Havana International Fair in early November.
As a result of the Palem?n find, Visa Gold Explorations attracted significant North American press with coverage by CBC, CTV, the National Post, the Montreal Gazette, Reuters, The Washington Post, Boston Globe, Miami Herald, Report on Business TV and numerous other media outlets.
In addition to the Palem?n, last year our dive team unearthed evidence of several other shipwreck sites. Some of these upon further scrutiny did not prove to hold economic potential, however, we will be investigating the more promising targets in the future.
We also took steps in 2000 to enhance investor relations, public communications and the Company's overall profile. For example, a new, user-friendly web site was developed providing up-to-date news and images of our expeditions. A new logo and corporate colours were adopted, and we retained the services of Investor Relations Group (IRG), an investor relations firm, to help expand market recognition, enhance shareholder value and communicate with investors via a 1-800 toll-free line. In October 2000, the Company's shares moved to Tier III of the Canadian Venture Exchange under the trading symbol YVL.
Amid these initiatives and accomplishments, substantial volatility in the economy combined with a decline in the equity markets took its toll on share performance. The market price of Visa Gold's shares fluctuated from a high of $1.28 to a low of $0.35, ending the year in the $0.50 range. Visa Gold continues to implement its business plan and we hope the success of the Company will be reflected in the market.
Moving forward with momentum
Building on last year's momentum, we are poised to make major strides forward. Our 2001 program will consist of the following: enhancing our search capacity; focusing on wreck targets with high economic potential; developing and executing a revenue strategy; deepening relationships in Cuba; and leveraging our strengths and foothold in Cuba. Our ultimate goal in this business is to excavate valuable shipwrecks and grow a greater inventory of artifacts, thereby enhancing the Company's value and ability to generate income.
This year we will intensify our explorations by working multiple campaigns simultaneously, a first for the Company. The focus, particularly during the first half of 2001, will be on exploring new areas within our search territory for shipwreck targets identified through historical research. We hope to find and work on a new shipwreck site with positive results by year-end.
We also plan to complete the Palem?n story this year. We will return to finalize the wreck site, put together background information for each of the recovered objects and undertake the separation of artifacts as per our joint venture contract. This will be an extensive, time-consuming process but once done, Visa Gold will be able to bring its share of artifacts to Canada for future sale and/or exhibitions. Armed with a story and relics of 19th century life, the Company will be in a position to begin the revenue generation process.
Management is committed to building long-term value for shareholders. There are several thousand shareholders who have put their confidence in this exciting adventure. We have taken and continue to take steps to build a competitive, world-class shipwreck exploration company. As well, we are investigating opportunities to capitalize on spin-off ventures in an effort to complement our core exploration business and to enhance shareholder value.
Similar to other junior exploration companies, we are dependent on financing to fuel operations until further established. A major challenge in the year ahead will be raising additional funds to fund increased operations into 2002. We are confident this can be achieved despite economic uncertainty and ongoing turbulence in financial markets.
I cannot close without mentioning the great contribution of our Cuban partners. We couldn't be doing this without the cooperation and support of Geomar S.A. and the Government of Cuba. Sowing the seeds of trust, cooperation and respect take time and patience, but we believe in the end the rewards will pay off for the Company, its shareholders and the people of Cuba.
We expect another year of growth and success. I look forward to reporting on our progress during 2001.
Paul Frustaglio
Chairman & President
Toronto, Canada
May, 2001
A CUBAN-CANADIAN PARTNERSHIP
"Visa Gold Explorations has achieved tremendous results in two years, especially in the backdrop of similar ventures around the world which often deliver results in 5 to 10 years. Visa Gold's portion of the artifacts salvaged from the Palem?n wreck, which began excavation last year, will be leaving Cuba for the world to see. Our success can be attributed to the professionalism and organization of the operations team, and the harmony between Cuban technicians and scientists and our Canadian associates. What awaits this already successful Cuban-Canadian partnership is an even brighter future with world class results."
The Management Team, Geomar S.A. (Visa Gold's Cuban partner)
Tue March 29, 2005 | Posted By: publisher
MEDIA RELEASE
For Immediate Release
January 20, 2000
Listed: CDN (Canadian Dealing Network)
Current Price: $ .60 (Can)
Symbol: VGLD
Shares Outstanding: 10,535,136
VISA GOLD EXPLORATIONS ANNOUNCES DISCOVERY OF ANOTHER SHIP WRECK
Toronto, CANADA - Paul Frustaglio, Vice-President of Corporate Relations of
Visa Gold Explorations Inc., is pleased to announce that the company's dive
team has found another shipwreck as a result of a virgin ballast stone pile
find. Excitement of the crew and staff of Visa Gold Explorations has been
heightened to a fever pitch with the two recent developments, which also
includes the most recent approval by the Cuban Department of Patrimony to
begin excavation of artifacts and treasure.
"This thrilling find of another intact ballast stone pile verifies the
final resting place of another ancient shipwreck," stated Vice President of
Operations Ed Burtt. After weeks of research Mr. Burtt has confirmed that
the ballast stone pile has not been disturbed since the ship sank in the
early 17th century. The Melian II scientific research analysis of
historical documentation has placed the 'French Balandra' of Don Juan Piti
at this exact spot of the found ballast pile. The 'French Balandra' ship
belonged to the 1711 fleet of the 'Almiranta Santissima Trinidad'. Mr.
Burtt has concluded that the computer analysis of the locations of the 4
other ships is highly probable after the finding of this first ballast pile
of the suspected 1711 fleet.
Initial dive investigations show many artifacts from the ship around and on
the virgin ballast rock pile. Ballast rock was used in sailing ships before
iron ballast or lead keels were invented. The presence of earthenware jugs
and ceramics on and in the ballast pile still intact makes the chances of
this being a virgin site highly probable and very lucrative. New
photographic evidence of the ballast pile and artifacts may be viewed on
the company's web site. www.visagoldexplorations.com
"Our extensive research of historical documentation show the 'Almiranta
Santissima Trinidad', the Kings appointed lead ship carried precious cargo
to be valued at 600 million, with the estimated potential of another 300
million of smuggled goods on board at the time of it's wrecking. We have
long anticipated this moment and we are very excited to continue our
efforts to uncover the treasures of Galleon Alley," stated the Vice
President of Operations.
Visa Gold Explorations Inc. is party to a joint venture agreement with its
Cuban partner, Geomar S.A., to search for shipwrecks in two areas in the
coastal waters of Cuba known as Galleon Alley. Visa Gold's principal
exploration targets are located west of Havana, where a fleet of galleons
went down in 1711.
For more information, contact:
Investor Relations: The Winfield Group
Tel: 416-745-9697, Fax: 416-740-7785; E-mail: winfield@iprimus.ca
LETTER TO SHAREHOLDERS (Annual Report 2000)
"From the discovery and salvage of the Palem?n to the expansion of our exploration territory in Cuba's shipwreck-rich waters, a string of successes in 2000 put Visa Gold Explorations on the map and positioned the Company for a dynamic future."
A Year of Building ? and Uncovering History
On behalf of the Board of Directors, we are pleased to present the 2nd Annual Report of Visa Gold Explorations Inc. together with the audited financial statements for the year ended December 31, 2000.
The year 2000 was one of great progress in the evolution of Visa Gold Explorations. While we entered the year in a tenuous situation, with an unstable management team, a lack of business discipline and deteriorating relations with our Cuban partners, under new management our turnaround was swift and the Company advanced on several fronts.
We restructured the organization, moved our headquarters to Toronto, Ontario, boosted our presence in Cuba and strengthened relations with our Cuban partners, Geomar S.A. A more aggressive and hands-on management approach was implemented and business fundamentals were incorporated into decision-making. Two financing deals in the form of private placements were completed in 2000, which allowed the Company to continue and expand operations, settle debts and legal claims and purchase new, state-of-the-art search technology.
In our exploration program, Visa Gold Explorations achieved two key milestones:
(1) The Government of Cuba approved the Company's request for another zone of exploration, near Santa Clara in the north. This addition gave Visa Gold a total of three search zones (previously the Company had two zones, Havana harbour to the Bay of Honda and the south side of the island around the Isle of Youth) and over 5,000 square kilometers of searchable area.
(2) We discovered the Palem?n, a Spanish-built brigantine that sank off the north coast of Cuba in 1839. Historical documents reveal that the ill-fated ship was on its return voyage to Havana from Europe with goods collected in England and France. Months of excavation and salvage at the wreck site yielded over 7,000 artifacts, ranging from gold jewelry, glass perfume bottles and ceramic jars to precious and non-precious stones. We showcased a sampling of the artifacts at the 18th annual Havana International Fair in early November.
As a result of the Palem?n find, Visa Gold Explorations attracted significant North American press with coverage by CBC, CTV, the National Post, the Montreal Gazette, Reuters, The Washington Post, Boston Globe, Miami Herald, Report on Business TV and numerous other media outlets.
In addition to the Palem?n, last year our dive team unearthed evidence of several other shipwreck sites. Some of these upon further scrutiny did not prove to hold economic potential, however, we will be investigating the more promising targets in the future.
We also took steps in 2000 to enhance investor relations, public communications and the Company's overall profile. For example, a new, user-friendly web site was developed providing up-to-date news and images of our expeditions. A new logo and corporate colours were adopted, and we retained the services of Investor Relations Group (IRG), an investor relations firm, to help expand market recognition, enhance shareholder value and communicate with investors via a 1-800 toll-free line. In October 2000, the Company's shares moved to Tier III of the Canadian Venture Exchange under the trading symbol YVL.
Amid these initiatives and accomplishments, substantial volatility in the economy combined with a decline in the equity markets took its toll on share performance. The market price of Visa Gold's shares fluctuated from a high of $1.28 to a low of $0.35, ending the year in the $0.50 range. Visa Gold continues to implement its business plan and we hope the success of the Company will be reflected in the market.
Moving forward with momentum
Building on last year's momentum, we are poised to make major strides forward. Our 2001 program will consist of the following: enhancing our search capacity; focusing on wreck targets with high economic potential; developing and executing a revenue strategy; deepening relationships in Cuba; and leveraging our strengths and foothold in Cuba. Our ultimate goal in this business is to excavate valuable shipwrecks and grow a greater inventory of artifacts, thereby enhancing the Company's value and ability to generate income.
This year we will intensify our explorations by working multiple campaigns simultaneously, a first for the Company. The focus, particularly during the first half of 2001, will be on exploring new areas within our search territory for shipwreck targets identified through historical research. We hope to find and work on a new shipwreck site with positive results by year-end.
We also plan to complete the Palem?n story this year. We will return to finalize the wreck site, put together background information for each of the recovered objects and undertake the separation of artifacts as per our joint venture contract. This will be an extensive, time-consuming process but once done, Visa Gold will be able to bring its share of artifacts to Canada for future sale and/or exhibitions. Armed with a story and relics of 19th century life, the Company will be in a position to begin the revenue generation process.
Management is committed to building long-term value for shareholders. There are several thousand shareholders who have put their confidence in this exciting adventure. We have taken and continue to take steps to build a competitive, world-class shipwreck exploration company. As well, we are investigating opportunities to capitalize on spin-off ventures in an effort to complement our core exploration business and to enhance shareholder value.
Similar to other junior exploration companies, we are dependent on financing to fuel operations until further established. A major challenge in the year ahead will be raising additional funds to fund increased operations into 2002. We are confident this can be achieved despite economic uncertainty and ongoing turbulence in financial markets.
I cannot close without mentioning the great contribution of our Cuban partners. We couldn't be doing this without the cooperation and support of Geomar S.A. and the Government of Cuba. Sowing the seeds of trust, cooperation and respect take time and patience, but we believe in the end the rewards will pay off for the Company, its shareholders and the people of Cuba.
We expect another year of growth and success. I look forward to reporting on our progress during 2001.
Paul Frustaglio
Chairman & President
Toronto, Canada
May, 2001
A CUBAN-CANADIAN PARTNERSHIP
"Visa Gold Explorations has achieved tremendous results in two years, especially in the backdrop of similar ventures around the world which often deliver results in 5 to 10 years. Visa Gold's portion of the artifacts salvaged from the Palem?n wreck, which began excavation last year, will be leaving Cuba for the world to see. Our success can be attributed to the professionalism and organization of the operations team, and the harmony between Cuban technicians and scientists and our Canadian associates. What awaits this already successful Cuban-Canadian partnership is an even brighter future with world class results."
The Management Team, Geomar S.A. (Visa Gold's Cuban partner)
Tue March 29, 2005 | Posted By: publisher
Check this link, I am sure you have probably seen the site however so many people on this site do not use there computer.
http://www.oceanscan.com/sidescan/cuba.htm
http://www.oceanscan.com/sidescan/cuba.htm
old man
Bronze Member
- #7
Thread Owner
Cornelius and Cablava, Thanks for the information. One of the people that I know is working on a project with his investors and is going to hopefully link up with Ed Burtt and try and work out a project in Cuba. The friend is Canadian is they shouldn't have any problems with our government. Thanks again.
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MODERATORS NOTE: Concerning Visa Gold Explorations. It should be noted here that while that company has failed due to unscrupulous stock brokers who gained control of the company and broke the law (May they rot in a cold Canadian prison).
The founder of the project is one of the most respected treasure hunters in the business. Ed is considered a friend too many of us at TreasureNet and we all wish him much success in the future. I personally believe that he is the best chance any treasure hunter has of gaining access to the wrecks in Cuban waters.
The founder of the project is one of the most respected treasure hunters in the business. Ed is considered a friend too many of us at TreasureNet and we all wish him much success in the future. I personally believe that he is the best chance any treasure hunter has of gaining access to the wrecks in Cuban waters.
old man
Bronze Member
- #9
Thread Owner
wreckdiver1715, I've spoken to Ed several times and I couldn't agree with you more. I've been trying for awhile to link up Ed with some honest investors to keep his project alive. I think that I've finally accomplished that task, as I have final meeting with with them in the near future. I've also been in contact with Ed's researcher and I believe tht he is one of the best in the business.
9
99*
Guest
Ed, knows how to use a Mag dont you Ed? Just ask Rackham? If he gets to Cuba and you get him on the boat with the researchers information(,the best in business) you will do very well, a more honest pirate you cannot find, dont forget the rum, and if it shines its Ed`s,right?99*
9
99*
Guest
Youre right there sir, Jack is awesome as is Ed, give the man a mag and he will find you the goodies, Cornelius in his own right is great with delivering awesome info I shudder to think how large a library he has! Good luck to all of you 99*
old man
Bronze Member
- #13
Thread Owner
Cornelius, I have always said, that 2 heads are better then one and in no way was I trying to be disrespectful of you or any other researcher. I welcome any help that you or anyone else can provide. I have always respcted you as a researcher and will continue to do so. you have provided invaluable help to many on this forum and I for one can't say enough good things about you.
9
99*
Guest
Cornelius does that map move over Puerto Rico, St.Thomas or the Virgn`s,99*
I was there in 95~
I was there in 95~
9
99*
Guest
Thank you, memories,99*
S
sailor boy
Guest
Yer I came across this web site today, how's your spanish
mine ant that good http://www.surcouf.net/intro/intro.htm somewhere in Grand Bahamas. I'll be back in Nassau monday. Does anyone know where or if they have a martime museum there. I talk to locals alot as we sail around the Bahamas for 6 months a year. I'll tell you one thing is. Talk to the loacls from any small town you visit. I found a weath of info from them.
cheer chris.
mine ant that good http://www.surcouf.net/intro/intro.htm somewhere in Grand Bahamas. I'll be back in Nassau monday. Does anyone know where or if they have a martime museum there. I talk to locals alot as we sail around the Bahamas for 6 months a year. I'll tell you one thing is. Talk to the loacls from any small town you visit. I found a weath of info from them.cheer chris.
Its french actually, if you use the following link you can translate the site to English. Erick Surcouf has been at this for a long time.
http://www.surcouf.net
http://www.surcouf.net
S
sailor boy
Guest
Well there isn't much info on wrecks in the Bahamas, I've dived 13 or so, apart from that.
if anyone has info on Spanishwrecks from 1600s to 1800s would be helpful. Cuba,, I've been there 2 times and love it. I was surprized at how many American fishinmen and divers and sportfishing boats are in Havana. If any American wants to go there, I say GO !!!!!!, By law you can go there.
The people there are very friendly and helpfull. Apart from that the divng is turly amazing, Most USA boats go to Bimi Islands Bahamas, check and check out of customs then head for Cuba.In cuba you don't any boat paper work and you DON'T get your passport stamped, But!! remember to clear in and out of the Bahamas before you enter back in the USA.
if anyone has info on Spanishwrecks from 1600s to 1800s would be helpful. Cuba,, I've been there 2 times and love it. I was surprized at how many American fishinmen and divers and sportfishing boats are in Havana. If any American wants to go there, I say GO !!!!!!, By law you can go there.
The people there are very friendly and helpfull. Apart from that the divng is turly amazing, Most USA boats go to Bimi Islands Bahamas, check and check out of customs then head for Cuba.In cuba you don't any boat paper work and you DON'T get your passport stamped, But!! remember to clear in and out of the Bahamas before you enter back in the USA.
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