There’s more than one way to find riches.
This January, Blue Water Ventures International (OTCMKTS:BWVI), along with project partner Endurance Exploration Group has set out to recover the contents from a recently discovered shipwreck off the North Carolina coast: The Pulaski.
Known as the “Titanic of its day,” it sunk on June 14, 1838, carrying with it the wealth of some of the richest families of the day. On January 25, 2018, the first coins of the wreck were brought to the surface – with more likely to follow.
Not only could the discovery prove profitable for Blue Water and its shareholders, but it will aid the company in its plans for future growth and expansion. There are risks, as with any investment, but Blue Water Ventures’ recent success might make it a stock-play worth considering. Here’s why.
$60 billion waiting to be found
Just how much treasure is at the bottom of the ocean? To get the answer, one first needs to know how many shipwrecks there are in the world.
James Delgado, director of the Maritime Heritage Program at the National Oceanic and Atmospheric Administration (NOAA), estimates that there are at least 1 million. Many believe the figure to be close to 3 million. This may sound like too-high a figure, but as Mr. Delgado put it: “…70 percent of the planet’s surface is water, and humans have only begun to be able to reach the depths. [Considering] this, 95 percent of the ocean still remains unknown to us. It’s the last frontier. We know more about the surface of the moon than what’s at the bottom of the sea.”
So, with 1 million shipwrecks lost to the depths (for now), it’s not hard to imagine how big the tally of all that sunken loot is.
Take the 2015 discovery of the San Jose, a Spanish galleon that sank off the coast of Columbia in 1708, for example. While ownership is currently in dispute, this is for good reason: it is believed to have been carrying 11 million gold coins and jewels from then Spanish colonies—worth as much as $10 billion today.
If just a decent portion of the world’s 1 million+ wrecks had a mere fraction of the contents found within the San Jose, just a single find by a company like Blue Water Ventures would produce huge profits.
Treasure off the Carolina coast
As previously noted, Blue Water Ventures International has had recent success in its treasure-hunting. The 180-year old remains of the steamboat Pulaski were found 40 miles away of North Carolina at a depth of around 118 feet. So far, they have found 25 coins (described in SEC filings as “passenger valuables.”) and the boilers thought to have belonged to the ship.
“Finding the Pulaski is a big deal,” said Doctor Joseph Schwarzer of the North Carolina Maritime Museums “…I will say it’s one of the more significant disasters in American maritime history.”
Profits are not far off as well. In June, a Federal Court in Tampa appointed Endurance Exploration Group and Blue Water Ventures’ joint venture entity for the find, Swordfish Partners, the custodian of all future artifacts found on the site. Following the excavation stage, the artifacts need to be documented and reported publicly. Then, the artifacts can be brought to market.
The find is proof that Blue Ventures possesses the necessary equipment, tools, recovery vessels and knowledge necessary to consistently find shipwrecks. It comes as no surprise, then, that while its operations have focused on shallow-water searches up until now, the company plans to expand its focus to reach deep-water wrecks as well.
Fortune favors the bold
From 2006 to 2011, the Company has recovered over $16 million worth of artifacts from shipwrecks. Looking towards the future, Blue Water plans to expand its operations for the detection of sunken ships. This initiative will include merchant ships from the WWI and WWII eras. It won’t be easy, but aided by historic archival research dated and the latest in advanced magnetic and acoustic sensing technologies, Blue Water is well armed.
Make no mistake, investing in Blue Water Ventures International is not for the faint of heart. But, as seafaring adventurers knew, there is rarely any reward without risk. Blue Water is primed to begin searching for deep water wrecks, finds like the $10 billion San Jose. And while its shares have sunk from their high of around $0.70 last year, they may turn out to be a treasure themselves.
This article was written by a third party contributor and does not reflect the opinion of Born2Invest, its management, staff or its associates. Please review our disclaimer for more information.
This article may include forward-looking statements. These forward-looking statements generally are identified by the words “believe,” “project,” “estimate,” “become,” “plan,” “will,” and similar expressions. These forward-looking statements involve known and unknown risks as well as uncertainties, including those discussed in the following cautionary statements and elsewhere in this article and on this site. Although the Company may believe that its expectations are based on reasonable assumptions, the actual results that the Company may achieve may differ materially from any forward-looking statements, which reflect the opinions of the management of the Company only as of the date hereof. Additionally, please make sure to read these important disclosures.
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