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[imgleft]http://lh6.ggpht.com/_cQOyQjTP3GY/SzdzZcJpthI/AAAAAAAAAIU/lTv6nE8qBxo/pa-logo.gif[/imgleft]This is not the kind of story I usually post on the main page, but Odyssey Marine Exploration is not your typical salvage company! Last year they discovered the wreck of the HMS Victory, not the one made famous by Admiral Nelson at the Battle of Trafalgar, the other one! In 1990-91 they salvaged artifacts from a wreck that is likely the remains of the Nuestra Senora de la Consolacion, one of the Spanish vessels sailing with the 1622 Tierra Firme treasure fleet bound for Spain loaded with the wealth of the New World. They are also featured on The Discovery Channel television series "Treasure Quest," the second season of which is currently in production.
You can read the rest of the story and find out more about Odyssey Marine Exploration and the wrecks they have discovered HERE!
UK Government Awards Exclusive Salvage Contract to Odyssey Marine Exploration for Recovery of SS Gairsoppa Silver Cargo
January 25, 2010 - Odyssey Marine Exploration, Inc. (NasdaqCM: OMEX), a pioneer in the field of deep-ocean shipwreck exploration, has been awarded the exclusive salvage contract for the cargo of the SS Gairsoppa by the United Kingdom (UK) Government Department for Transport. The contract was awarded after a competitive bid process and is for two (2) years, which commences immediately.
The SS Gairsoppa was a British cargo steamer enlisted in the service of the United Kingdom for the Ministry of War Transport during World War II. It was torpedoed by a German U-Boat in February 1941 in the North Atlantic while reportedly carrying a significant cargo of silver.
Odyssey will assume the risk, expense, and responsibility for the search, cargo recovery, documentation, and marketing of the cargo. If the salvage is successful, Odyssey will be compensated with a salvage award which consists of a majority of the net value of the recovered cargo after deduction of expenses of search and salvage.
"We're looking forward to working with the UK Government to recover the silver carried aboard the SS Gairsoppa and return it to the stream of commerce. The shipwreck is lying in the deep ocean well within the range of current search and recovery capabilities. We have good location information which suggests a search area that can be completed in approximately 90 days, and we are scheduling this project for summer 2010," commented Greg Stemm, Odyssey's CEO.
"We're pleased to expand our excellent working relationship with the UK Government with this contract, which will provide a significant economic benefit to the UK upon a successful salvage of his shipwreck," Stemm continued. "This project aligns with our strategy to focus on partnership projects with several governments that provide straightforward legal ownership arrangements."
You can read the rest of the story and find out more about Odyssey Marine Exploration and the wrecks they have discovered HERE!