Mexus Gold US (MXSG)

[F4Uvet]

Mexus dreams and schemes. The never ending story.


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By Mexus

The Mexus tug and barge arrived in Washington State on October 31, 2011. Our sales representative, Power Com, has potential purchasers evaluating the cable and preparing bids at this time. The cable pulling equipment operated very well and above expectations, however, there were external problems which limited our capability to properly salvage a large volume of cable. The weather and sea conditions were the largest challenge to conducting efficient salvage operations. Based on the knowledge and information acquired through this initial salvage effort the determination has been made to purchase a ship with a carrying capacity of approximately 1.5 million pounds and operate at greater depths in open water under adverse weather conditions. The target submarine cable is approximately 30 pounds per foot, therefore, storage requirements will require a ship of this magnitude for recovery of the target cable. Mexus has already replaced its smaller survey boat with a 42' former US Coast Guard vessel powered by twin Cummins engines which is capable of operating in open water and conducting survey data acquisition to 1000 feet in depth. This vessel will be working offshore Washington and Oregon coasts later this year to survey and identify our larger and more profitable targets.

November 4th, 2011

And we all know how THAT worked out.