The Globe and Mail reports in its Saturday edition that Barrick Gold founder Peter Munk is launching a superyacht marina and resort on the Adriatic. The Globe's Eric Reguly writes that Mr. Munk's Porto Montenegro venture has a price tag of $410-million and counting. One of his partners in the watery venture is Russian oligarch Oleg Derispaska. Mr. Reguly says Porto Montenegro is now taking on Monaco and other elite destinations for the floating rich. Of course, Mr. Munk owns a big honking yacht he calls Golden Eagle. The boat is 43 metres long, which Mr. Reguly says qualifies it as a superyacht. It has three decks and a crew of seven. The Globe says Mr. Munk likes to gloat about the ability of his marina and resort development to attract rich visitors who are boosting the economy. The development has created 550 direct jobs in a country with 12-per-cent unemployment and is acting as a magnet for other seaside developments. The gross domestic product of tiny Montenegro is about $4.4-billion. The Porto Montenegro investment is worth a hefty 6.5 per cent of GDP. Mr. Munk is almost 87. He took on the Porto Montenegro project in 2007 when the site was a defunct, rusting Serbian navy base.