Whether you are a shareholder in Britannia’s Gold or not, there was a very interesting update given out in a live webinar last week. I am aware that some people can’t watch videos whilst at work and there may be other issues why you couldn’t watch the webinar so I thought I would give you a short written summary of what was said last week.
Britannia’s Gold have decided it’s too late this year to go back to their site in the North Atlantic to complete their salvage on the Empress of Britain as the weather and waves are likely to be against them. They also need some very specific tooling and this isn’t available for hire at the moment either.
But the great news is they have been awarded a contract to carry out the work on another salvage, in the Pacific Ocean.
They will do a survey of two wrecks in early November and the salvage is likely to take place in January and February 2020. There is no cost to Britannia’s Gold (they will actually get paid to do the work!). If they recover gold in the Pacific, Britannia’s Gold will also get a 12% share of the gold and this could be worth about £150 million. This would trigger a cash dividend to all shareholders plus provide more than enough money to complete the salvage on the Empress of Britain which they now plan to complete in the Spring (April/May) when the sea is calmer again.
The Empress site is secure with the Irish coastguard and Irish Navy keeping a close eye and protecting the site.
If you want to listen to an edited (down to 15 minutes) version of the webinar, you can listen here: https://bit.ly/P-gold
If you upgrade your account or become a member with the Angel Business Club this month, you will receive Britannia’s Gold Dividend Fund Units which will entitle you to a share of the dividend payouts.