Afloat.ie reported more than a month ago on the major rescue operation involving the 42ft sail training vessel after it hit rocks inside the Sovereign Islands at Ballymacus Point and began taking on water.
All of the vessel's 30-strong crew were brought to safety in a rescue effort that involved four RNLI lifeboats.
Since the incident on 24 July, an exclusion zone was set up around the wreck site as an investigation as to how the Dutch brig came to run aground, and discussions were entered into as to the possibility of salvaging the vessel.
Earlier this month a number of items, including the ship's bell and compass, were recovered from the wreck by local divers after they were thought to have been stolen in the days after the incident.
Now finally an agreement have been reached between the Astrid's insurers and West Cork based salvage firm Atlantic Towage and Marine for salvage and removal of the 95-year-old tall ship.
Divers with the company have already completed a survey of the wreck and will submit a report to coastguard officials on Monday.
The start date and timescale have not yet been finalised, but it's expected the project would take up to two weeks, weather permitting, once under way.
The Irish Times has more on the story HERE.