Odyssey 3Q Outlook Boosts Shares
TAMPA, Fla. (AP) â¿¿ Odyssey Marine Exploration Inc. said Wednesday it expects to report that third-quarter exceeded $8 million, boosted by its moves into deep-ocean mining exploration and various expedition projects.
The company explores and recovers deep-ocean shipwrecks and also sells coins and artifacts it finds. In 2007, it found a sunken Spanish galleon and salvaged from it an estimated $500 million in silver coins and other artifacts.
That ship was sunk by the British navy southwest of Portugal in 1804. A U.S. court ruled last year the loot belongs to Spain but the company has appealed and still has the treasure.
Odyssey's shares rose 12 cents, or 6.6 percent, to $1.93 in afternoon trading.
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