SAN DIEGO, Jan. 23, 2013 (GLOBE NEWSWIRE) -- Earth Dragon Resources, Inc. (OTC:EARH) and its wholly-owned subsidiary, Project X, Inc., have launched a strategic plan to locate and recover refined metals from cargo ships, numbering in the thousands, lost at sea throughout the world's oceans during World Wars One and Two. Present estimates of the value of these lost shipments of metals exceed $100 billion.
Earth Dragon Resources has done extensive research and identified this as a highly viable and advantageous opportunity. The evolution in technology has made it increasingly possible to identify and access these shipwrecks globally. The relatively short term return on investment for the Company is very lucrative, in striking contrast to a typical mining operation which requires years of development in a highly regulated sector with enormous capital demands.
Refined metals from these wrecks can be easily located, and readily recuperated within a few months' time. For a small fraction of the total value of the recovered metals, the reclamation effort can be completed yielding a potential rate of return on capital investment from a potential range of 300% to as high as 5000%, contingent on the metals being recovered.
The Company has positioned itself to be a leader in this niche industry. The Global Recovery Initiative recently launched combines personnel highly skilled in marine operations and specialists in the latest cutting edge technology combined with a comprehensive program designed to research all ships lost during Wartimes to determine the most lucrative candidates for a successful and profitable recovery.
Research reveals that hundreds of thousands of tons of valuable metals lie within ships scattered across the ocean floor awaiting discovery and recovery using today's advanced technology. At the time these cargos were lost, gold was $20 - $35 an ounce with copper valued at only a few pennies a pound, and platinum considered just another industrial metal. The last 30 years have seen the prices for all these metals increase in value many times. What was once a $10 million gold shipment to pay for war supplies is now cargo valued over $700 million. A common shipment of 5000 tons of copper is now worth over $35 million. An equal amount of nickel is worth over $70 million while tin would be more than $100 million.
The Surge in demand in the Gold market is evidently exploding on a worldwide basis as investors increasingly take flight to the safe haven of Gold and other precious metal investments, as they endeavor to protect their reserves through safer means than the faltering system of fiat based investments.
Over the past decade, gold has experienced an unprecedented incline in value. Contending fiercely with the top movers of the past decade, gold has risen in value from within the range of $250 per ounce in early 2000 to in the range of $1700 as of the last quarter of this past year, soaring upward near the range of a 700% increase.
Due to technological advancements making it simple to locate these vessels in collaboration with the continual rise in the value of precious metals, it is increasingly apparent that this is a robust opportunity prepared to be fully materialized. For more details and historical statistics, please visit the company website at www.earhweb.com
About Earth Dragon Resources, Inc: Earth Dragon Resources, Inc. identifies opportunities globally in the recovery of precious metals on both land and sea. Earth Dragon Resources, Inc.'s primary focus is to identify, perform due diligence, structure and fund opportunities that have potential to enhance shareholder value. Earth Dragon Resources, Inc.'s wholly owned subsidiary, Project X, Inc., is the marine salvage division. Project X, Inc. is in the planning and financing stage of recovering 3 WW1 wrecks that research shows contain gold and other precious metals.
Forward-looking Statements: Statements about our future expectations are "forward-looking statements", which are not guarantees of future performance. When used herein, the words "may," "will," "should," "anticipate," "believe," "appear," "intend," "plan," "expect," "estimate," "approximate," "potential" and similar expressions are intended to identify such forward-looking statements. These statements involve risks and uncertainties inherent in our business, including those set forth in our filings with the Securities and Exchange Commission (SEC), and are subject to change at any time. Our actual results could differ materially from these forward-looking statements. We undertake no obligation to update publicly any forward-looking statement.
Not an Offer to Purchase or Sell Securities: This overview is for informational purposes and is not an offer to sell or a solicitation of an offer to buy any securities in Earth Dragon Resources, Inc. ("EARH"), and may not be relied upon in connection with the purchase or sale of any security. Any offering or solicitation will be made only to qualified prospective investors pursuant to a confidential offering memorandum, and the subscription documents, all of which should be read in their entirety.
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