Odyssey Marine Exploration Inc (OMEX)

[melmel2]

Take-away from the bank loan amendment deal is that OMEX is being given more time to finalize the purchase agreement from AHMSA beyond the original Sept 31st deadline. The key timing factor is linked to the date of Semarnat's decision on the environmental application for the Don Diego phosphate mine in Mexico. At this point it is AHMSA's management team that is running that approval process, for which they are very experienced and have the deep political ties that make the approval more likely than not. Today the OMEX bet is largely binary...yes or no...on this environmental approval. Shorts who are looking in the rear view mirror see a horrible wreck at OMEX, thus keeping a short squeeze very much in the future of OMEX.