Platinum Treasure Located?

Petoskey News, via Ritholtz:

A shipwreck hunter says he has found the wreck of a World War II merchant ship that was torpedoed by a German U-boat off Cape Cod with a load of platinum now valued at $3 billion — perhaps the richest hoard ever discovered at the bottom of the sea. 

Greg Brooks of Sub Sea Research, in Gorham, Maine, said a wreck in 700 feet of water 50 miles offshore is that of the Port Nicholson, a British vessel sunk in 1942. He said he and his crew positively identified the hull number using an underwater camera.

Salvage operations should begin this month or in early March aboard a 220-foot vessel called Sea Hunter with the assistance of a remotely operated underwater vessel, he said. 

That would be quite the find.