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Odyssey's interaction with Chatham Rock Phosphate.

Earlier this year, Odyssey Marine Exploration (NASDAQ:OMEX) was given 9.3 million shares from a Company called Chatham Rock Phosphate. Odyssey was given these shares for any possible help they could provide Chatham with, as well as for a loan given to Chatham. With these shares Odyssey currently owns 7.3 % of Chatham.

What Chatham Rock Phosphate is:

Chatham Rock Phosphate (CRP through nzx.com or CRP:NZ through Yahoo Finance) is a New Zealand based company in the process of getting a mining application approved to dredge the mineral phosphate. The company started in 2006 and has made much headway since. The phosphate it could acquire is a very important mineral because it is a natural fertilizer, which is much needed for New Zealand's agricultural business. Also, New Zealand imports its current phosphate from other countries. The phosphate it could possibly mine is about 450km away from New Zealand city Christchurch.

If this mining application is approved, it is one great push off for both Chatham and Odyssey.

Odyssey was originally given their shares at .23 NZ before August of this year. Within the past couple of weeks Chatham has slowly rose to .45 NZ a share, which basically has almost doubled Odyssey's shares. So why hasn't Odyssey sold out? The reason should be obvious. If the mining application gets passed by the New Zealand Parliament then Chatham can begin the process of mining. Hopefully the mining will be successful, because this could be the world's first company to dredge at 400 meters. So if both the mining application gets passed and the dredging goes well, the shares Odyssey have with Chatham should soar. This could possibly mean that Odyssey could pay off any debts it may have and/or invest in its own company if and when it sells. There's no doubt in my mind that if Chatham works it could easily be a $10.00 stock, possibly more. Perhaps Chatham would look into expanding its dredging in other areas too.

It has been estimated that the amount of phosphate should last about sixteen years and bring about 1.3 billion into New Zealand. New Zealand won't just be bringing in phosphate to its self, but the company also plans to export it too.

The big push right now for Chatham is the mining application, if it isn't approved, then Chatham is basically a sunken ship with no value. But if Chatham gets its mining application approved and the dredging goes well, it's a sunken ship with a estimated value of 1.3 billion annually for sixteen years.

If one were to be interested in investing with Chatham Rock Phosphate in the U.S., I would suggest Fidelity, seeing how it's the only stock brokerage company I could find that dealt with New Zealand's Stock Exchange. You will have to sign up with international trading, which is fairly easy and is done through a customer representative.

I am Long OMEX and may be the same for CRP. I wish everyone the best that still have faith in OMEX and anyone who is willing to invest in Chatham!

There is plenty more information on CRP within the following links, so be sure to do your research.

Source: Odyssey's Hidden Treasure: Chatham Rock Phosphate