While we could find these opportunities outside of U. waters, we are seeking the predictability of being within U. waters which lends to our ability to safeguard our investment and control over the operation decisions.
The number of shipwrecks that have been found and harvested for their holds are significantly less than those that are still out there.
The most obvious and predictable sites we will target are those with historical records attached, prior finds made, clear legal and permitting available and most importantly, a partner on the site that we want to be in business with.
No one really knows all the ships over time that were lost at sea.
However, the advantages we possess are the ability to seize on, decipher and refine research that was well documented within the historical archives for the vessels at sea by Spain, Portugal, France and others.
The on-board treasure included in its documented cargo in the form of gold, silver and precious gems is estimated to be between $4 billion and $17 billion, making the San José potentially the most valuable shipwreck in the Western Hemisphere.
For three hundred years, the Spanish and others, pillaged the New World of its treasure, shipping the riches in thousands of ships over time back to Europe for the enjoyment and funding of those who never earned any of it.
Although most have yet to be identified, it is believed they include Spanish, French, English, German, and American merchant ships, slavers, and even a couple privateers, which were lost over a period of several hundred years.
The Project-L shipwreck site is another cluster of shipwrecks, several of which have already produced major treasure finds for other salvors in the not too distant past.
Located off an archipelago that is situated along a once major route for both merchant ships and treasure galleons, Dr.
Spence was able to dive on, file a salvage claim, and obtain a court order recognizing him as the exclusive owner of the remaining wreckage in the cluster.
Along the way, an estimated one out of ten never made it home.