camistocks (80.01)

A gold seeker company listed on the stock market has a new find...

February 02, 2009 – Comments (4) | RELATED TICKERS: OMEX

And they did it again!  

The company (it is even listed on the Nasdaq) called Odyssey Marine Exploration Inc. (OMEX) is known for having found a sunken ship a couple of years ago from which they gathered goldcoins in the estimated amount of $500m. However there is still a legal dispute with the Spanish government going on.

According to a BBC report they now found the remains of the legendary warship named HMS Victory, which sank in a brutal storm with mice and man.

http://news.bbc.co.uk/2/hi/europe/7863840.stm

A US-based salvage firm is believed to have found remains from the wreck of a legendary British warship which sank in the English Channel in 1744.

Odyssey Marine Exploration is expected to announce on Monday that it has found HMS Victory, the forerunner of Nelson's famous flagship of the same name.

The valuables from the vessel, including brass cannons, could be worth millions of pounds, some experts say.

If confirmed, the find could trigger a row with the British government.

The remains from HMS Victory have been reportedly found in international waters.

Of course, as with their previous find, they will probably be challenged in court again, this time by the British Government... Hey, governments are happy to find any kind of new money after all...!

It seems the ship had 100 brass cannons and (this is the important thing...!) some 100'000 gold coins on board, of course worth millions.

As for the company's stock price, I suppose it will spike up tomorrow on the news, and then flatten out again. Never mind, if you look at a long term chart, the stock is still well above its 2000 low. Of course short sellers will now jump on the stock, but hey, that's stock market life...

PS it was TMFKopp who was the first to drive me to this exciting gold seeker story! Unfortunately I couldn't find his initial blog...