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Sunday, October 23, 2016

Earth Dragon Secures Research on Four WW II Shipwrecks

April 11, 2013

Earth Dragon Resources, Inc. announced that it secured the research on four World War II shipwrecks and is moving to the planning phase of the project. This phase will include additional research on the four wrecks and strategic planning for surveying the wrecks.

These four shipwrecks were all private merchant vessels lost to enemy action in World War II. The research indicates their combined cargos include over 5,000 metric tonnes of copper, 20 metric tonnes of platinum and 220,000 Troy ounces of gold bars. Earth Dragon will validate the cargos with additional research efforts. At this stage of the project, there is no way of confirming that the shipwrecked cargos were intact at the time of the demise of the ships or that they have been undisturbed since that time. The Company will be referring to this cluster of wrecks as the "Carribean 4 Project."

There are many viable salvage targets for the company to target. The selection of these wrecks was done on the basis of several important factors:

  • High value, manifested cargo
  • Close proximity of the wrecks to each other
  • Accessible working depths
  • Favorable, year round working condition
  • Budget risk/return factors

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