The young fisherman, gazing out to sea at Newlyn, magnificently sculpted by Cornishman Tom Leaper, has won the admiration of thousands since it was unveiled by the Princess Royal.
Following that visit the railings and polished granite have been added, the whole site and surroundings strengthened and a dozen other attractive details added to enhance he area.
At ceremonies at the Tolcarne statue and the Newlyn Mission last week, trustees and the committee passed over continuing responsibility for the striking memorial to Penzance Town Council.
This was accepted by the mayor, Cllr Roy Mann, from the chairman, Douglas Williams, who presented him with a remembrance book which was placed in the Mission's memorial chapel, where all the names of the fishermen are recorded.
The book told of the events throughout the fundraising and building work, with many illustrations of the enterprise, the major events and a list of donors.
At the ceremony at the statue there were prayers and a blessing by Superintendent Keith Dickson and the Rev Julyan Drew to mark the fulfilment of the task that began over three years ago following a fishing tragedy.
Hundreds have lost their lives at sea during the past 70 years and a permanent memorial was thought essential.
At the Mission the mayor, accompanied by town clerk David Gallie and councillors, congratulated the group on their achievement over a comparatively short period.
Some £50,000 had been raised throughout the county and nationwide, with donors including schoolchildren, artists and the fishing community, Prince Charles and a host of charitable organisations in the county and beyond.
It was a fine and fitting memorial.
The chairman said the original idea had come from Shirley Stevenson, the group's honourable treasurer, and was followed by an enthusiastic response at a public meeting.
"The encouragement was exceptional, as was the willing assistance from the Penwith District Council, Town Council and the county council.
"We could not have asked for more helpful partners.
"Charities, small and large, have contributed, and so have people everywhere," he added.
"And it was good to have some representatives of the wider community at the handover including the new Penlee lifeboat coxswain, Patrick Harvey.
"When Princess Anne came to Newlyn she met many members of the bereaved families and found the occasion 'profoundly moving'."
Mr Williams added his thanks to the local trustees and committee who had worked so hard, particularly Tony Woodhams, whose energy and drive had carried the project forward so efficiently.
The chairman was thanked for his efforts by member Ruth Simpson, who helped prepare the memorial book.
Among many others at the ceremonies were the sculptor and craftsmen who assisted in the work with representatives of donors
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