Odyssey Marine Exploration, Inc. (
) is down near 5% at $3.64, but above the day's low of $3.55. OMEX
today provided an operational update on the three ships currently
engaged in Odyssey projects.
The chartered vessel working on the SS Gairsoppa project, the
Seabed Worker, will make a scheduled port call in Cork, Ireland,
beginning August 15, 2012, and will then immediately return to the
site to continue recovery operations.
OMEX said preliminary assay results, testing a sample of the
silver already recovered and delivered, have been received, with
results in-line with expectations. Two bars were also tested for
gold content. As these bars registered between .030% and .040%
gold, additional bars will be assayed and steps will be taken to
recover the gold during the processing.
Regarding its Victory project, OMEX has concluded the
archaeological pre-disturbance phases outlined in the Project
Design which were to be completed prior to the recovery of
artifacts. The Odyssey Explorer will be engaged in additional
search and target inspection operations as a continuation of its
"Atlas" project while awaiting instructions from the Maritime
Heritage Foundation to proceed to the next phases of operations on
the Victory site.
OMEX also announced that the Dorado Discovery has been moved to
Ensenada, Mexico, to complete scheduled maintenance and upgrades
prior to beginning its next project which is scheduled to commence
OMEX trades in a 52-week range of $1.80 - $4.36. Shares have
increased 38% in the last 12 months.
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