Apollo Global’s mining vessel will depart 'by the end of next week'

Apollo Global [APL 0.00 ?4.4%; 170% avgVol] [link], the country’s only deep sea mining company, told the exchange that its only deep sea mining vessel, the MB Siphon I, would “depart for Cagayan Valley by the end of next week” after repairs and maintenance are completed. APL’s ocean mining contract area is in the Cagayan Valley vicinity. Once the MB Siphon I arrives on location, APL said that it “anticipates processing of necessary documentation” with “government authorities” and that once that step is completed, it would “immediately proceed with the mobilization and positioning of MB Siphon I for operational activities.”

  MB BOTTOM-LINE:  Long story short, APL hasn’t mined a damn thing in the 1,595 days since the company gaslight the market by claiming that its vessel was in position and ready to begin commercial operations. That’s over four years of overlapping excuses for why the company hasn’t been able to do the only thing that it is supposed to be able to do, with the one boat that it has to do it. The MB Siphon I has to be the safest, cleanest, most ocean-ready vessel in the history of the nation with the amount of time APL has allegedly spent fixing, repairing, preparing, and maintaining it. I just hope that they don’t encounter any seasonally-appropriate storms on that voyage that would necessitate restarting the repair and maintenance cycle for yet another year. 
 

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