Mary explained this to Kyle before, yet the false and misleading statements continue to come to the surface. Why?
No need to answer. I'm pretty sure I know.
Seafarers does NOT have an 80/20 agreement, and they won't have one until they obtain a recovery permit. For now, there is no agreement and the state owns everything.
Seafarer has an agreement with the government, which allows the Company to retain 80 percent of the wreckage, while the remaining 20 percent will go the government.
Now the lender posted in response to my pointing out this false claims that Seafarers would be able to get 80% of what they find under their Exploration Permit if they obtain a Recovery Permit, which is true. But as Mary explained, and as the current permits clearly state, they have no guarantee they will be able to obtain a recovery permit. That makes the promo piece false and misleading.....at best.
Have a nice weekend.
No need to answer. I'm pretty sure I know.
Seafarers does NOT have an 80/20 agreement, and they won't have one until they obtain a recovery permit. For now, there is no agreement and the state owns everything.
Seafarer has an agreement with the government, which allows the Company to retain 80 percent of the wreckage, while the remaining 20 percent will go the government.
Now the lender posted in response to my pointing out this false claims that Seafarers would be able to get 80% of what they find under their Exploration Permit if they obtain a Recovery Permit, which is true. But as Mary explained, and as the current permits clearly state, they have no guarantee they will be able to obtain a recovery permit. That makes the promo piece false and misleading.....at best.
Have a nice weekend.
