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Britannia's Gold: Salvage Programme Progress Report 2

Britannia’s Gold Ltd

It has been a challenging week with repeated visits from Irish Navy, Air Force and Coast Guard questioning our activities.

Although BGL is legally within its rights to undertake salvage operations within international waters, the very rare nature of such operations does draw the attention of local authorities when a large salvage vessel shows up in their Exclusive Economic Zone (EEZ). In this instance BGL has been contacted by the controlling authorities for the region and asked to provide assurances that its operations are compliant with law and regulations as well as safe and without threat to the environment. We have been able to comply with all requests due to the company having a complete understanding of the relevant Acts and Regulations that apply to its operations and also having and maintaining a suitably equipped Safety Management System (SMS). Furthermore, BGL was happy to provide a full survey assessment to the local authorities, detailing the current status of the wreck.

Thankfully much of the time taken to agree all issues with the authorities occurred during a prolonged period of poor weather which had the salvage vessel on stand-by at location awaiting better conditions. Happily however,  the weather has since decreased and we have recommenced salvage operations with the full approval of the local authorities.

The single most difficult and time consuming part of this particular salvage operation is the breaking through of the outer hull plate; in this instance the hull plate is double thickness and the inner steel frames are  closer knit. This was needed as the vessel was sailing to Canada through Newfoundland and therefore needed to be strengthened to compensate for the ice it expected to encounter on a regular basis. We are making headway using specialist cutting equipment and structural removal work with our grabs and today, for the first time,  finally managed a glimpse inside the wreck through the worked aperture.

We still have a great deal of work to do but confidence remains high, driven on by the excitement brought about of recent developments.

 

More news to follow in due course…

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LAST CHANCE TO BECOME A SHAREHOLDER IN BRITANNIA’S GOLD?!

Britannia’s Gold Ltd

Dear members,

No later than Monday 23rd October, Will Carrier and his Crew set sail to start the first salvage operation and within a couple of weeks we will have the results. The August survey campaign – Triton – validated the presence of gold onboard so the Team at Britannia’s Gold Ltd is quietly confident of positive results. Stay tuned to the BGL Facebook page for continuous updates.

FUNDING UPDATE ANGELEQT.COM

The invitation to invest and become shareholder of Britannia’s Gold Ltd (BGL) will close latest October 31st – when they reach their maximum target of £8m – or when BGL make the first successful recovery – whichever comes first. If you wish to participate and invest, please go now to www.angeleqt.com where you can buy shares in BGL at £1.000 per share.

NB When BGL recover the first gold bar, crowd funding via AngelEQT will stop without notice.

RISK WARNING Any investment opportunity contained herein carries a high degree of risk. Your capital is at risk which can include loss of investment and dilution, illiquidity, lack of dividends and it should be done only as part of a diversified portfolio. This financial promotion has been approved by Angel Corporate Finance Ltd; a firm authorised and regulated by the Financial Conduct Authority in the UK.

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