the "Port Nicholson" Platinum and Diamonds

[ToyMan]

the "Port Nicholson" Platinum and Diamonds

Anybody know the latest on this wreck?

http://pressherald.mainetoday.com/story.php?id=251422&ac=PHnws

 

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[allen_idaho]

Re: the "Port Nicholson" Platinum and Diamonds

Yeah, he's full of crap. But you got to pay the bills somehow. And why not with investors' money. At least he got a new boat out of it.

 

[allen_idaho]

Re: the "Port Nicholson" Platinum and Diamonds

Here is what happened. The "Port Nicholson" loaded supplies at Avonmouth, UK. It then made a stop at Barry, UK and proceeded to Halifax, Nova Scotia arriving on June 14 as part of convoy XB-25. After offloading a portion of the cargo, the convoy proceeded toward New York when it was torpedoed along with the "Cherokee" on June 16. It was planned to offload supplies in New York, reload with a new cargo, and proceed through the Panama Canal to New Zealand.

The real story here is that in December 2006, Greg Brooks had one salvage boat. And it sank. Then he went into debt when the coast guard forced him to recover it. Now more than $150,000 in debt and without a functioning boat, what do you do?

So, all of a sudden, he comes up with this wonderous story about 71 tons of platinum on the bottom of the ocean that nobody has ever heard of before. He sparks up enough interest to get $5 million from investors.

In the article, when it says the recovery effort has already cost $3.5 million, that is because he just bought a brand new 220-foot vessel to replace the one that sank. So when he doesn't find his billions worth of treasure, he'll just say "well, gosh. I THOUGHT it was there" and go on his merry way. Invested money isn't refundable.

 

[Darren in NC]

Re: the "Port Nicholson" Platinum and Diamonds

While I can appreciate your skepticism, Allen, your "story" is unfounded. I've seen the original documentation myself and it's quite easy to see how it hasn't been seen by everyone. I wish I had found it first...and could have had I been looking in the right files. I hope they pull up every ounce. Time will tell.

 

[bradyboy]

Re: the "Port Nicholson" Platinum and Diamonds

If in fact the story isn't true and he doesn't have valid documentation to back up his theory
Doesn't that constitute blatant fraud?
On the level of the recent ponzi scams that have hit the press.
IM not saying its not true but it sure is a big claim worth investigating.
Sounds criminal, but then again you never know, could be that today's the day ....
Brady

 

[allen_idaho]

Re: the "Port Nicholson" Platinum and Diamonds

Which part is unfounded?

This one?
http://subsearesearch.com/sinking.html

or this one?
http://subsearesearch.com/news.htm

It is a nice boat though.

 

[Darren in NC]

Re: the "Port Nicholson" Platinum and Diamonds

So, all of a sudden, he comes up with this wonderous story about 71 tons of platinum on the bottom of the ocean that nobody has ever heard of before.

That part.

 

[Salvor6]

Re: the "Port Nicholson" Platinum and Diamonds

In 1942 Stalin used the British warship HMS Edinburgh to ship 4.5 tons of gold bullion as payment for supplies. The Edinburgh was accompanied by a naval escort but was torpedoed anyway and sank off Murmansk.

 

[deepsix47]

Re: the "Port Nicholson" Platinum and Diamonds

There were many legitimate valuable cargos that went to the bottom in WWII. This one though just doesn't have the ring of truth to it.

Deepsix

 

[mariner]

Re: the "Port Nicholson" Platinum and Diamonds

Deepsix,

Welcome back! Hope you are recovering well.

Mariner

 

[jeff k]

Re: the "Port Nicholson" Platinum and Diamonds

http://www.prweb.com/releases/2009/10/prweb3031054.htm

 

[jeff k]

Re: the "Port Nicholson" Platinum and Diamonds

http://www.wcsh6.com/news/local/story.aspx?storyid=119083&catid=2

 

[allen_idaho]

Re: the "Port Nicholson" Platinum and Diamonds

A year later and still nothing. Surprise surprise. But what's this? A shiny new million dollar submarine? Now I'm sure they'll find something...

 

[Kimbrough]

Re: the "Port Nicholson" Platinum and Diamonds

A year later and still nothing. Surprise surprise. But what's this? A shiny new million dollar submarine? Now I'm sure they'll find something...

And so they did:
http://www.foxnews.com/us/2012/02/0...ns-in-sunken-ship-off-boston/?test=latestnews

 

[Alexandre]

Re: the "Port Nicholson" Platinum and Diamonds

http://www.oldsaltblog.com/2012/02/...ue-baron-and-the-70-tons-of-platinum-deja-vu/

 

[Darren in NC]

Re: the "Port Nicholson" Platinum and Diamonds

Maritime law is complicated. Britain has yet to decide whether or not to file a claim on the cargo, waiting for the salvage operation to begin...

I know I should be used to this by now, but this statement really gets me. If Spain, Britain, USA - any gov't - knows it's their wreck, why not tell salvors to leave it alone NOW? Why wait until they pull everything up, and THEN claim it? (Yes, I know the answer to that). If SSR were smart, they would work the deal ahead of time rather than string out a legal battle for 20+ years.

Anthony Shusta, an attorney representing the British government, says that it is unclear if the ship ever carried platinum. “We’re still researching what was on the vessel,” Mr Shusta told the Associated Press news agency. “Our initial research indicated it was mostly machinery and military stores.

Very funny indeed. Did he think initial research would show a proclamation to the world about lost shipments of immense value? Here' s a quote from Keith Jessop (finder of the Edinburgh's gold) regarding gov'ts handling of public records...

"I'd found in the past that documents of a delicate nature were sometimes put into the Public Record Office under misleading titles or references, making them difficult or impossible to find without inside knowledge. If that provoked trouble at a later stage, the documents could always be discovered again. The PRO could never be accused of obstructing the public's right to see the documents, they had simply been ‘misfiled’. Some time later a contact gave me a file number to check at the PRO. Surprise, surprise, we'd found the missing charts."

Nonetheless, in the volatile world of precious metals lost, due diligence is key! Work with previous/current owners and insurance companies ahead of time.