Hey Guys. Recently a Company called Odessey Marine Expoloration was in the news of being bought out by Minera del Norte S.A. and Hornos de Mexico . They own 30% of Neptune Mineral. Its funny because to get a valuation they had to look to us because we are the front runners. They still couldnt value what our seafloor tenements are worth until prodcution. But our competitors know we are close. Check out these paragraphs from the article.
Neptune Minerals (30%+ owned by OMEX) http://seekingalpha.com/article/3017136-odyssey-marine-exploration-whats-the-deal
Neptune holds seafloor tenements in the Western Pacific totaling approximately 175,000 sq km. The closest comparable to Neptune is Nautilus Minerals (NUS.to), which holds more than 185,000 sq km of tenements plus another 215,000 sq km under application. Nautilus is much further along in developing its operations, and has the backing of some very large mining partners, and the government of Papua New Guinea. Nautilus's market cap currently stands at approximately $240 million.
With Nautilus's Solwara1 project moving forward toward production, having already gained environmental consent, the environment for funding and developing select tenements in Neptune's portfolio has improved. Assigning a value to these early-stage mining projects is difficult. They may ultimately be worth billions, but that value won't come until the industry is proven.
For now we take a conservative stance and assume a value of 15 percent of Nautilus's market cap in the base case, and 30 percent in the optimistic case. Again, depending on how financing and operations progress, these figures could prove very conservative.