View as an RSS Feed
Odyssey Marine: Victory And Vindication
- Odyssey Marine granted right to salvage HMS Victory (Victory) by the UK’s Minister of Defence (MOD).
- MOD represented the final significant obstacle to the Victory salvage operation.
- Victory may hold over three-quarters of a billion dollars in artifact, ingot, and coin value.
- OMEX receives 80% of coin value and 50% of artifact value from salvage (under terms of 2012 agreement).
- Our base-case assumes a $270 million recovery with net profit of $170 million to OMEX.
Odyssey Marine: Support For Oceanica Builds In Mexico
- Letter from top NGOs signals lack of stiff environmental opposition.
- Lack of vocal opposition indicates strong environmental application.
- Popular Mexican newspaper emphasizes urgent need for new phosphate source.
Odyssey Marine: Meeting Reveals Larger-Than-Expected SS CA Recovery
- Odyssey's SS Central America salvage value currently in excess of $32mn.
- Odyssey's share of estimated proceeds so far is worth greater than $18mn.
- Court filings indicate that the remaining salvage could be much larger than expected.
- Alleviates balance sheet concerns and allows investors to focus on longer-term projects.
- Oceanica environmental application complete; strong national support in Mexico.
Odyssey Marine: SS Central America Legal Win Expected
- A battle is being fought in US District Court, Norfolk, VA, over salvage rights to the SS Central America.
- Court-appointed Receiver, Ira Kane, appears to be in position to win the battle regardless of the judge's decision.
- Kane's position secures Odyssey Marine's contract to salvage the SS Central America.
- The court has ruled the Odyssey is fit to salvage the SS Central America and Odyssey should continue its work.
- Odyssey Marine Exploration: Watching The Detective
- Odyssey Marine: An Open Letter To Ryan Morris Of Meson Capital