This is the treasure hunting business - they either hit it big or they keep looking.
One of the best bits about this stock is that they are able to fund their $1m a year treasure hunting costs out of projects such as the dam project last year and the plane salvage that they also undertook.
This means they don't have to dilute our stock according to Wilf, who repeated this again in his recent MN1 interview.
The fact that they are buying another boat so that they can have one full time at the Woman Key site tells me that they think they have a good chance of hitting it big there.
See this:
"In 1641 a converted merchant ship, La Concepción, left Havana filled with valuable cargo to be taken to Spain, including some 60,000 coins. The ship was discovered in 1978 in an area known as the "Silver Bank" off the coast of Hispaniola, near present day Puerto Rico (Hispaniola was the name for the island between Cuba and Puerto Rico, which is now divided between Haiti and the Dominican Republic)." taken from the following link: http://www.coins.nd.edu/ColCoin/ColCoinIntros/Sp-Gold.Shipwrecks.html
Wilf said that the wreck appears to date back to 1670'ish from what I remember. The coins in the link above weighed .04 - 1.1 ounces each. Just scanning by eye, the average weight looks to be about 0.4 ounces. If we take 0.4 ounces, multiplied by 60,000 (number of coins found at a wreck in the example above) and multiply that by $600 per ounce, I get $14.4 million.
A find like that would result in a ridiculous share price here, which is why I am in.
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