Odyssey Marine: Victory And Vindication

27 Oct 2014 7:22 AM | Anonymous

Odyssey Marine: Victory And Vindication

Disclosure: The author is long OMEX. The author wrote this article themselves, and it expresses their own opinions. The author is not receiving compensation for it. The author has no business relationship with any company whose stock is mentioned in this article. (More...)

Summary

  • 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.

http://seekingalpha.com/article/2595215-odyssey-marine-victory-and-vindication?source=cc