Experts sceptical about claims made by company that says it has found the Dmitrii Donskoi, which went down during 1904-1905 Russo-Japanese war
A South Korean company’s claim to have found a sunken Russian warship has triggered a frenzy amid speculation the ship was carrying an enormous amount of gold when it sank 113 years ago.
The Seoul-based Shinil Group said its divers discovered a wreck it identified as the 6,200-ton Dmitrii Donskoi, which went down during the 1904-1905 Russo-Japanese war off an eastern Korean island. The company speculated that 200 tons of gold bars and coins ) would probably still be aboard the ship, and claimed that this would be worth 150tn won ($132bn). However, this appears to be a huge overvaluation: the Bank of Korea’s 104 tons of gold reserves are valued at around $4.8 billion.