Subsea Resources Share Discussion Threads

[gengulphus] 14/11/2007 14:25

SUB to aquire 10 fishing rods, 45,000 metres of line and a 60 magnets ???

Yup - acquiring magnets to recover non-ferrous metals would be about par for the course...

Gengulphus

[vanhalen] 14/11/2007 13:23

BREAKING NEWS !!!

SUB directors explain a cunning plan to the long suffering shareholders as to how they intend to salvage the alleged $28 million of treasure which currently resides at a depth of 4,500 meters.

[seatrader] 14/11/2007 13:08

Site off the coast of Cornwall

[8trader] 14/11/2007 12:58

Did they forget to mention the wreck is in the middle of the Bermuda Triangle :-))

...just kidding.

[vanhalen] 14/11/2007 12:56

Next SUB RNS

BREAKING NEWS

SUB to aquire 10 fishing rods, 45,000 metres of line and a 60 magnets ???

Stop

[seatrader] 14/11/2007 11:41

They have to charter a vessel, one available could be 100-130m long

[ozdave] 14/11/2007 11:28

Can you believe this thread has been going for 3 years already? I used to follow this on a daily basis up until about a year ago but circumstances have meant I have not been able to do that since so have lost track. I notice some of the posters such as Peter Goddard,Capt.fatcat & others are still here, they always offered well balanced advice but what happened to Bello? Has he stopped posting because none of his ridiculous predictions ever came true,I will always remember his advice that SUB should apply for a lottery grant,just one of many brilliant jems offered to us all. Hopefully he is now a bit wiser & only suffers from a dented ego,for me that is the great thing about forums like this because we can all learn from all the good & bad advice.
Anyhow as I said I am totally out of touch with this & trawling back through all the posts is really hard work so would someone mind posting a summary of what has gone on previously & what is lined up, it would also be useful to people new to the thread so thanks in advance to anyone who will do that.
What happened to the Celia project? Could they not recover the thousands of tons of copper that was supposed to be sitting there waiting to be picked up or is that still there for the future. I notice the company website says they still have the JL which is doing the surveying & another ship doing the salvage. The other ship is described as between 100 & 130 meters long,can they not measure it accurately or is it made of rubber or some other material which changes volume? What is it named & do they own it, have it on permanent hire or just rent it as required I wonder.

[edmondj] 14/11/2007 11:27

I am simply querying their operational salvage credentials.

[monis] 14/11/2007 11:09

Edmondj- look at what they did for Falklands Oil and Gas - struck a deal with the biggest mining company in the world. It's easy to be cynical and sarcastic but these people can do deals, they're no idiots.

[william47] 14/11/2007 10:51

new directors filled thier boots last year after new appointmens and rab backing then .a no brainer.re-rating

[edmondj] 14/11/2007 10:49

Is the new SUB management going to sort out RAB's stake in Northern Rock too?

Have they shown they can salvage anything worthwhile at all?

Obviously one keeps an open mind on these pertinent issues.

[blue59] 14/11/2007 10:29

I'll second that!

[monis] 14/11/2007 10:19

luchan - at least y0u are more concise and polite than 8 trader.

Before the co was a shambles and i didn't buy but there is a big difference between £70m market cap and £5m market cap, i bought about a month ago or so, i am very happy with my investment. I know all about Philip Richards at RAB Cap and having spoken to the new management at SUB I am very confident they will quickly turn things around.

[luchan] 14/11/2007 10:14

Monis,

8Trader does have a point as the chart for the last year tells it's own stories. I find the business very interesting but the mismanagement regarding the size of their ship which in turn limits what they can go for is disappointing.

The people running SUB did not plan ahead very well from the start & if they had secured the correct ship from the start the story could be much different.

Will SUB use this news to raise funds, probably.

I don't hold but I'd love this company to make it but gut feel tells me otherwise.

If I risk a punt it will be on the announcement of a placing if there is one.

luchan.

[monis] 14/11/2007 09:54

Have to try harder than that 8 trader. lol.

[8trader] 14/11/2007 09:48

Do all these buyers not do research or read bulletin boards ?

Sometimes i dont understand why penny share punters chase such awful
companies when quality gets avoided.

[billie4] 14/11/2007 09:43

According to Objective capital 'Audrey' has 1,400 tonnes tin and 225 tonnes wolfram (tungsten ore). 'Wealth from the seas' has the ship as a 2 decker built in 1928. Probably a wartime loss. The tin is probably among thousands of tonnes of other cargo. Celia at a quarter the depth has twice the value in cargo and so whats the share price rise all about. They surely have to prove they can raise something at a profit before there is any value of a wreck in 4500 metres.
One thing for sure is they said they would run out of cash by the end of the calender year and so there must be fund raising soon.
They have already lost over £20m of shareholders money, yours and mine, surely
they cannot be allowed to lose any more!

[8trader] 14/11/2007 09:23

Is that the worst AFX ever ?

"On Aim, SubSea Resources, the beleaguered underwater salvage company, rose 0.3 to 1.175p after it claimed to have located a new wreck worth $28m (£13.5m). That is about four times as much as the company's current market capitalisation"

Makes it sound like all the loot will just float to the surface for free.

MONIS - 14 Nov'07 - 09:04 - 4585 of 4589 (Filtered)
asparks - 14 Nov'07 - 09:18 - 4587 of 4589 (Filtered)

[smiler 0] 14/11/2007 09:19

Market Capitalisation: £5.33 million
Shares In Issue: 355.59 million
Historic PE: -0.13

[asparks] 14/11/2007 09:18

welcome rise here.

also of interest is I M T K

results due friday

up 30% yesterday and 30% today

[seatrader] 14/11/2007 09:09

How many shares in issue?