Replies to post #74869 on Seafarer Exploration Corp (SFRX)

[hedge_fun]

As mentioned, large amount of ballast……

can equal a relatively light cargo. Add to that, the big ole ballast pile doesn’t bode well for the “alleged” $15B valuation, which MFT emphatically denied.

There have been no meaningful valuables found, no silver bars, just a few coins.

The wreck was excavated down to and under the hull (see pictures posted) by multiple salvors prior, and more experienced teams who concluded its lack of value and left after 1 or 2 seasons.

Then, SFRX arrives, and instead of saying Gary Randolph (MFT) placed a value in the billion$, they say they can’t determine a value without knowing the origins of the wreck.

But now that SFRX has a super duper treasure detector, I’m sure critics will soon be eating crow.

GL

[Raider21]

Quote: The possibility of an inbound ship has always been a concern of mine, coupled with the amount of ballast reported (that should be replaced with silver!)

Any more details as to why the captain believed it was inbound?
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Now who started this nonsense? Spanish galleons never came in bound countering the northerly flow of the Gulf Stream. The in bound galleons came in along the northern coast of South America with first port of destination being Porto Bello and Cartagena. From there up through the Caribbean to final port being Havana, Cuba. Sailing out of Havana (after about middle of the 16th Century) they used the northerly flow of the Gulf Stream to take them through the Straights of Florida until reaching the approximate Latitude of Bermuda, and then East back to Spain.

As for ballast, all of the galleons carried stone ballast but with a heavy cargo of treasure being carried, some ballast was removed first but there was always a base amount that remained in the hull. Depending upon where those 'creek rocks' were taken from, many contain magnetite and sometimes other minerals. Reynolds must be having allot of fun with that.