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Odyssey Marine Exploration COO Mark Gordon on the company’s search for gold and silver on sunken ships.
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Well it sounds like the plot of a pirate movie but it is real life 48 tons of silver were found on a sunken cargo -- -- More than 151000 feet deep in the north Atlantic and that is just one.
-- Odyssey marine explorations projects what is next in the underwater exploration world and it's a fun well -- trying to.
On the marine exploration president chief operating officer and as a selling in the -- becoming quite the celebrity now at the discovery.
Channel and an all being all the attention but as the big -- for the come.
And it has -- great move -- a lot of people.
Have no real concept of what we did until we start being featured on TV and now for one -- You've got added that it is it the SS gears -- stop all right sorry I now I'm direct forty -- -- sold or.
Were found on the the first thing I think that everyone's minds how much -- silver or gold is sitting on the ocean floor when he thing.
Well just to make yourself a loan that was reportedly carrying a hundred to 200.
Tons we picked up 48 -- so -- so we're going back.
This spring to get the rest and then -- staggering there's three million shipwrecks on the ocean floor the United Nations says so there's billions of dollars worth the stop them there.
I mentioned the TV show we're looking at some actually some confidence Discovery Channel every 24 8 PM.
Syria -- -- back to the site you're gonna look for more.
But overall -- mean -- you now kind of canvassing the world if you will and and how do you do that how do you look around.
Different boats different areas how do you know over the boats sunk right at the history and that's how does this work.
It does you know we start with three search just like financial analyst Steve but we're looking at historic records we have -- deal screen that were working to.
And then we have the best technology in the best team in the world to run fund these things you've also got a project they're working on off the coast to the UK correct sort Iraq where there yeah in fact it'll also be featured in the discovery -- the HMS victory a warship lost and 1744.
Reported to be carrying three tons of gold and.
Drove relic that's 10 o'clock -- prices go higher for yourself.
Is worked -- I honestly not that it is scoping your business and obviously.
The cost exploration.
Costs the research costs the manpower costs has gotten me.
Very -- you are publicly traded company do you feel the weight if you will that's not a pun.
Who between having to balance -- exploration doing -- RD if you will than actually having to satisfy.
Shareholders how to balance that.
Yeah you know it's tough it's certainly not it's it's a more -- an episodic business you can't really forecast smoothly.
But we have investors to understand that's what they're getting into and we've gotten pretty good at doing this now we've had -- couple -- about successes.
Do you also have to deal with governments around the rolled in we although the dealing with any government is probably not on the red tape that any government say it's the UK ship or.
A -- if they're gonna want their cut their share ownership if you will how do you navigate that.
Yeah well you know some government -- -- than others to deal with in this case the United Kingdom is our partner.
-- -- we have a pretty straightforward deal we get a 100% of our expenses back we take all the risks of the project doesn't pay weren't trouble.
But we get all our expenses back -- -- first dollars and an 8020 split 80% Odyssey and 20% to the British taxpayer.
You know what -- things we -- -- is rob is looking at the of evidence -- the commodities markets gold silver palladium copper view well I mean do you can it keep a close eye.
On those contracts -- -- can you give yourself to give yourself a sense of where you want to go income what capital you want to -- on these.
Russia yen today -- it's definitely a factor we think about having the right mix and now we've been doing sea floor minerals so we're diversifying even more.
Actually naturally occurring mineral deposits on the sea floor we can access with our equipment -- -- minerals doesn't what does that mean well there's massive sulphide just cut -- gold copper silver occurring in single deposits.
And phosphates is -- really exciting extension to the business right now sub sea phosphates and that's as as energy and -- fertilizer key key ingredient to fertilizer so the world.
Crude supplies dependent on that.
Well all right I want to Michelle RK mart garden thank you very much they'd -- -- -- amateurish and business.
