They Found A Shipwreck Believed To Hold R1,7 TRILLION In Gold

Remigio Civitarese
Luglio 19, 2018

The team from South Korea found the wreck of the Dimitrii Donskoi, a Russian warship which was carrying billions of pounds worth of gold.

It is thought that the battle ship, called Dmitrii Donskoi, sank during the Russo-Japanese War in 1905, going down with 5,500 boxes of gold bars and coins to prevent the Japanese from seizing it.

Shinil released photos and videos taken by search submarines, which showed markings on the stern the company said was the ship's name in Russian.

The company said it's hoping to hoist the wreckage from the ocean in order to examine it and its iron boxes more closely in the coming months.

Some historical accounts have revealed the Dmitrii Donskoi carried the treasury of the entire flotilla which would have included the port expenses and also the salaries of sailors and officers.

It's also uncertain just how much of the gold Shinil Group will be able to recover.

The shares continued their steep rise morning before Jeil clarified that it has "no relation to the treasure ship business", causing prices to drop more than 20 per cent. The now bankrupt Donga Construction company previously attempted to explore and salvage the ship in the early 2000s.

I once found a R100 note in an old pair of jeans, so I have an inkling of what this South Korean salvage team must be feeling.

Local laws aimed at preserving national territory and property require the company to deposit 10 percent of the estimated value of the shipwreck before starting its salvage works.

An official at the Pohang Regional Office of Oceans and Fisheries, which has authority on Shinil's case, said it has not formally discussed the company's claim because Shinil has yet to submit a request to seek a salvage right.

The team comprised experts from South Korea, Britain and Canada who discovered the wreck on Sunday (Jul 15) using two manned submersibles to capture footage of the vessel, said the Telegraph.

The company said the ship held 150 trillion won ($130 billion) in gold and it would provide evidence next week to support its claims.

A South Korean Financial Ministry official responsible for the issue said that Russian Federation may be able to claim ownership.

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