Metal prices and precious metal prices attract shipwreck salvage

Advertisement/Advertising – This article is distributed on behalf of Mayfair Gold Corp. and Southern Cross Gold Consolidated Ltd., with which SRC swiss resource capital AG has paid IR advisory agreements. Creator: SRC swiss resource capital AG · Author: Ingrid Heinritzi · First published: 24.02.2026, 8:35 a.m. Zurich/Berlin

For a long time, maritime salvage was dominated by treasure hunters who liked to plunder. This practice dates back to ancient Greece. Even then, as today, there were regulations in place and money could be made from it. A law from 900 BC allowed salvage companies to keep up to a third of the salvaged goods. Nowadays, there are professional salvage companies that take care of the treasures under the sea. According to estimates, there are around three million undiscovered shipwrecks lying dormant in the sea.

One famous example is the Spanish galleon San José, which sank off the coast of Colombia in 1708, laden with treasure that would be worth around US$20 billion today. The shipwreck salvage industry is timeless, just like gold and silver. In January, the price of gold reached an all-time high of US$5,598 per ounce. Profit-taking followed and a sideways phase set in. The current fluctuations in the price of gold are also attracting bargain hunters. In any case, the Fed's upcoming interest rate policy and developments in the Iran conflict are likely to be at the forefront.

Interest rate expectations have risen in recent weeks, but the latest US labor market data was better than expected. And if the economy is showing strength, rapid interest rate cuts are not so urgent. Most analysts assume that the gold price will continue to fluctuate around US$5,000 per ounce in the near future. And should the Iran conflict escalate – the troop movements of the two adversaries indicate significant military nervousness – then the attractiveness of gold as a safe haven would increase.

Southern Cross Gold Consolidated - https://www.commodity-tv.com/ondemand/companies/profil/southern-cross-gold-consolidated-ltd/ - owns the Sunday Creek project in Australia. It contains gold and antimony. Excellent recent drilling results, more than 79 composite sections with more than 100 grams of gold per ton of rock from 113 kilometers of drilling, indicate significant exploration potential.

Mayfair Gold - https://www.commodity-tv.com/ondemand/companies/profil/mayfair-gold-corp/ - controls 100 percent of the Fenn-Gib gold project in northern Ontario in the prolific Timmins district, a Tier 1 jurisdiction. A very positive preliminary feasibility study is already available. According to the company, the gold project contains 4.3 million ounces of gold (an indicated resource of 181.3 million tons of rock grading 0.74 grams of gold per ton of rock). Production is scheduled to commence in 2030. Recent confirmation drilling results while still preliminary point to potential positive reconciliation vs. the block model within the starting pit.

Current company information and press releases from Mayfair Gold (- https://www.resource-capital.ch/en/companies/mayfair-gold-corp/ -) and Southern Cross Gold Consolidated (- https://www.resource-capital.ch/en/companies/mawson-gold-ltd/ -).

Further information is also available in our new precious metals report at the following link: https://www.resource-capital.ch/en/reports/view/precious-metals-report-2025-11-update/

Sources:

https://altea.circle.so/c/knowledge/shipwreck-economics-research-recovery-and-returns;

https://esut.de/2026/02/meldungen/68117/iran-konflikt-verhandlungen-im-schatten-neuer-grossmanoever/;

https://www.resource-capital.ch/en/reports/view/precious-metals-report-2025-11-update/

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