or is this all flimflam, smoke and mirrors to suction cash from a gullible public looking for the next stock to go stratospheric or is the plan in fact viable with the right people to make it successful?
This Tom Albanese is talking about building the equivalent of a 7th gen drill ship in the USA and I imagine having them work under the US flag if the whole show is to be an all American one? Probably would need to be since the US never ratified the UNCLOS.
Well, I will reply to myself to say that it is high time this industry gets started and I would love to see a big US presence in it because the US does in fact need a source of these minerals which we can control however when this Tom Albanese talks about building these ships in the US, I see shareholders screaming bloody murder over the spending for them. If a 7th gen dp3 drillship costs $800M+ to have built in South Korea, it would be $3.2B to build one here (if even possible without building a new yard) and we’re not talking about the bulk carriers to shuttle the nodules from where they get collected in the mid Pacific to a US smelter (which also must be built). I see at least $12 to $15B needed to be spent before the first minerals would be delivered.
Anyway, this venture has a website here in case you might care to see what their plans are.
