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General: SubSea Resources: Cargo Valuation Update

Posted on 05.02.2006 - 03:58 EST in GENERAL NEWS by ginamc

SubSea ResourcesIn the not too distant future I expect our Operations Director, John Kingsford, will be reporting on the many tasks that he and our engineering team are handling at present as we prepare for our planned recovery programme.

In the mean time and only because I know that many of you do not have access to metal prices I copy below our most recent valuation on the vessels that we call our A class, that is to say of high value and around which we would build a project.


You will be interested to see that Celia, our planned recovery for summer 2006, now has a gross value of over US$29 million and Vanilla, our planned recovery for winter 2006, now has a gross value of nearly US$54 million.

Obviously these will change as metal prices change and we can never be certain of value until we are actually paid, nonetheless I hope you find this interesting.

Do please note that this is by no means an exhaustive list of our target cargoes!

With best wishes
Mark FJ Gleave

Cargo values 2 Feb 2006  

Ship

Cargo type

Value US$

Audrey Tin, Wolfram

14,280,500

Barbara Copper, Tin

35,422,620

Brigitte  Tin

15,740,000

Celia Copper, Zinc

29,612,595

Diana Tin, Wolfram

38,315,000

Fifi Tin, Wolfram

16,279,000

Gloria Silver Coin

44,435,866

Greta Silver Coin

22,217,933

Jane Copper

23,032,200

Jean Tin, Wolfram

15,161,000

Jennifer Copper, Cobalt, Tin

43,874,712

Lola Silver Bar

26,956,305

Marina Molybdenum

16,402,100

Michele Copper, Cobalt, Nickel

32,547,077

Miranda Nickel

36,214,078

Samantha   Tin, Wolfram

31,275,000

Sue  Silver Bar 

29,623,910

Tara  Copper, Cobalt

18,407,529

Tina Gold Bar

41,000,960

Vanilla  Copper, Tungsten, Vanadium 

53,791,798

Vivian Tin, Wolfram 

10,894,000

Total

  $ 595,484,183


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Source: SubSea Resources
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