Blast from the past
US Senate considering ratifying the UN Law of Sea Treaty (LOST)
That would transfer control of US ocean territory to the UN
And also establish an international tax that would be paid mainly by developed nations such as the US
In short, it would be one more giant nail in the coffin of American sovereignty and prosperity
Not until the Admiralty mafia is nullified
Who owns the treasures of the sea?
This was a hot mess 12 or so years ago
Amazing the names that keep popping up
Odyssey Marine Exploration: Watching The Detective
Deception Case #3: BLACK SWAN COURT RULING
And the rest of the world
Treasure Washes Up on Venezuela’s Shore, Bringing Gold and Hope to a Village
December 12, 2020
GUACA, Venezuela — The most extraordinary moment in the young fisherman’s life began in the most mundane way: with a morning visit to the latrine.
Walking back to his tin-roofed hut on Venezuela’s Caribbean coast, the fisherman, Yolman Lares, saw something glisten along the shore. Raking his hand through the sand, he pulled up a gold medallion with an image of the Virgin Mary.
The village of Guaca was once at the center of Venezuela’s fish processing industry but is now reduced to penury by the lack of gasoline and the closure of most of its small fish-packing plants. Amid such misery, the valuable find seemed like a miracle.
“I began to shake, I cried from joy,” said Mr. Lares, 25. “It was the first time something special has happened to me.”
At home, Mr. Lares told his father-in-law, also a fisherman. Word of the discovery spread swiftly, and soon most of the village’s 2,000 residents had joined in a frenzied treasure hunt, combing every inch of the waterfront, digging around dilapidated fishing boats, even sleeping on the beach to protect their few square feet of sand and the untold fortune the plot could contain.
Since late September, their search has turned up hundreds of pieces of gold and silver jewelry, ornaments, and golden nuggets that washed up on their shore, offering the villagers a baffling and wondrous — if short-lived — reprieve from Venezuela’s seemingly endless economic collapse.
Dozens of villagers said they had found at least one precious object, usually a gold ring, with unconfirmed reports that some had sold their discoveries for as much as $1,500.
To many here, the unexpected bounty was a message of hope.
“This is God, setting his agenda,” said Ciro Quijada, a local fish plant worker who found a gold ring.
No one knows where the gold came from and how it ended up scattered along a few hundred feet of Guaca’s narrow, workaday beach. The mystery has merged with folklore, and explanations draw equally on legends of Caribbean pirates, on Christian traditions and on the widespread mistrust of Venezuela’s authoritarian government.
The jagged coastline around Guaca, on Venezuela’s Paria peninsula, is punctuated with bays and islands that have long given refuge to adventurers.
It was on this peninsula, in 1498, that Christopher Columbus became the first European to set foot on the South American continent, thinking he’d found the entrance to the Garden of Eden.
Later, this sparsely defended coastline was regularly raided by Dutch and French buccaneers. Today, it is a haven for drug and fuel smugglers and modern-day pirates who prey on fishermen.
Did a storm disturb a pirate treasure chest or break open up a sunken colonial frigate? Did the bounty come from modern smugglers heading to nearby Trinidad? For weeks, Guaca was rife with speculation.
Government opponents said officials may have sprinkled the gold on the beach to calm protests by local residents against the terrible living conditions. Others fretted the government would send soldiers to confiscate their treasure.
Some villagers called the gold a blessing, others a curse that would doom anyone touching it.
Once the first photo of the discovery was posted on Facebook, the news spread around Venezuela. But the area’s remoteness, the widespread shortage of gasoline and the coronavirus quarantines prevented a national gold rush.
A chemical test commissioned by The New York Times on a link of gold chain discovered on Guaca’s beach indicated the piece was likely manufactured in Europe in recent decades.
The test showed the chain was made of high-quality, 18-karat gold uncommon in Venezuela’s domestic jewelry production. The alloy would have been difficult to produce in pre-modern conditions, said Dr. Guy Demortier, a jewelry-authentication specialist based in Belgium.
Chris Corti, a technical expert in jewelry-making based in Britain, examined photographs of several objects discovered in Guaca and said they appeared to have been commercially manufactured in the mid-20th century.
But he cautioned that more analysis was needed to make a firm determination about the date and origin of the pieces.
The source of Guaca’s treasure may never be known. The villagers almost immediately sold the objects they discovered to buy food.
“Whatever we get, goes straight in the mouth,” said Hernán Frontado, a fisherman and Mr. Lares’s father-in-law, who had to beg neighbors for cassava, the cheapest local staple, to feed his family before finding several pieces of gold jewelry.
Mr. Frontado sold his finds in Carupano, the closest city, for less than what he thought they were worth to buy rice, flour and pasta.
Before Venezuela’s economic crisis began in 2014, Guaca and the surrounding villages supplied Latin America with sardines and canned tuna. Today, only eight of the 30 rudimentary sardine warehouses in the area still operate; the nearby tuna canning factories, run by the government, have gone bust.
Crippling fuel shortages this year have tipped the downturn into a daily fight for survival for many villagers.
To obtain any gasoline for their boats, the villagers have to sell half their sardine catch to the government at a set rate equivalent to just 1.5 cents for a pound.
“The government doesn’t care about us at all,” said José Campos, a sardine fisherman. “We keep giving them fish, and we get nothing in return.”
Fuel became so scarce this year that many fishermen had to row out to the open sea, or stay out in their small, exposed boats for days to preserve gasoline, braving storms, thirst and pirates.
“It got so bad, I felt as if a rope was tightening around my neck,” said Mr. Lares, who first discovered the gold.
He made $125 from the objects he found — by far the biggest sum he ever made at once.
Mr. Lares used the money to buy staples in bulk. He also bought some sweet breads for his children — the first treat they’d had in years. He fixed a broken television and bought a used speaker, giving his family some entertainment in their earthen-floor home without indoor plumbing, where six people share one bed under a leaking roof.
The treasure has allowed his family to go back to eating twice a day. His youngest child, 2-year-old Thairy Lares, has gained weight in the past month, though she is still malnourished.
The television is now on at all hours, its fuzzy image showing a happy, prosperous nation. Venezuela’s state channels are the only ones available in Guaca.
The village’s situation has looked up since the appearance of gold. Sardines have come back to Guaca’s shores after a four-month absence, and the gasoline supply has improved slightly.
Every morning, the village bursts into frantic activity when the sardine boats arrive with their catch, drawing hundreds of people to the coastal strip.
In small groups, they set to unloading, cleaning, gutting and packing the catch in coordinated silence. The tapping of carving knives and the cries of sea gulls are the only sounds accompanying their methodical work. The village’s most vulnerable residents stop by to collect their daily fish rations for free.
Mr. Lares has returned to his routine, but still keeps a pair of simple gold earrings decorated with a star. Despite the pressing need, he doesn’t want to part with them because they remind him of the ancient navigators who crossed the Caribbean guided by the stars.
“It is the only pretty thing that I have,” he said.
The treasure did not change Mr. Lares’s life, but it reminded him that good things can happen, even amid hardship.
Months after the first discovery, Guaca’s residents still occasionally find small golden objects in the sand. At sunset, when the beach goes quiet, a few residents can be seen sitting by the surf, running their hands through the sand in the fading light.
“If it happened once,” Mr. Lares said, “it will happen again.”
Never forget what they did
No public company should ever have to go through
What Odyssey and it's shareholders had to endure
Treasure Hunting in the News
BLIS OTCMarkets https://finance.yahoo.com/news/treasure-shipwreck-recovery-sets-short-133010727.html Treasure & Shipwreck Recovery, Inc. (“TSR” or “the Company”) (currently trading as OTC:BLIS) Treasure Recovery Company now in the Public space i think this is a new competitor but plenty of wrecks out there
It's very expensive funding
As a side note it's pathetic that they don't have anyone to proofread their contracts and press releases
Based on the dates stated in the 8-K, which I figure were pulled verbatim from the actual contracts, they don't know what year it is
OMEX news out
not sure why but it hasn't posted here on the ihub news
Press Release: Odyssey Marine Exploration Obtains up to $4.2M in Funding in Two Separate Transactions
8:30 am ET December 12, 2019 (Dow Jones) Print
Odyssey Marine Exploration Obtains up to $4.2M in Funding in Two Separate Transactions
TAMPA, Fla., Dec. 12, 2019 (GLOBE NEWSWIRE) -- Odyssey Marine Exploration, Inc. (NASDAQ:OMEX), a pioneer in the field of deep-ocean exploration, has obtained commitments for up to $4.2 million in funding under two separate arrangements.
On December 6, 2019, Odyssey executed an agreement with a group representing existing shareholders to provide up to $2 million in funding as an advance against a portion of multi-million-dollar payment Odyssey expects to receive within the next six months. This payment is related to a previously completed shipwreck project. The group provided $539,000 in funding to Odyssey on December 10, 2019.
In addition, a term sheet has been executed and definitive agreements are being drafted with the group that has already committed up to $6.5 million in non-recourse legal funding for the NAFTA action for up to an additional $2.2 million. Given the significant management time and internal resources devoted to the NAFTA case, the funder has agreed that this additional tranche of funding may be used for Odyssey's internal expenses directly related to support of the arbitration.
"A group of existing shareholders presented us an opportunity to factor a portion of an expected payment to Odyssey," said Mark Gordon, Odyssey Chief Executive Officer and Chairman of the Board. "At about the same time, the group responsible for the legal funding of our NAFTA action has agreed to provide up to an additional $2.2 million pursuant to terms similar to the current NAFTA legal funding.
"We appreciate the support of these groups who are intimately familiar with the Odyssey team, business plan and mid- to long-term outlook for the company. These two deals provide the capital needed to advance our overall business plan and to execute the initial phases of onsite operations on our Lihir Offshore Gold project in the first half or 2020. Geological and environmental surveys will be conducted to aid in the production of a 43-101/JORC compliant resource estimate and environmental impact assessment."
The first agreement is a non-interest-bearing six-month loan of up to $2.0 million. When the expected factored payment is received by Odyssey, Odyssey is obligated to repay the lender the amount outstanding plus a 55% factoring fee. The loans will be convertible at the lender's option at an initial conversion rate of $5 per share of Odyssey common stock, subject to adjustment and otherwise in accordance with the purchase agreement.
The other funding arrangement for up to $2.2 million will follow substantially the same terms as the current NAFTA legal funding, except there will be an option to convert this additional amount into Odyssey stock at current market prices. A deposit of $500,000 has been received toward this amount.
About Odyssey Marine Exploration
Odyssey Marine Exploration, Inc. (Nasdaq:OMEX) is engaged in deep-ocean exploration using innovative methods and state-of-the-art technology to provide access to critical resources worldwide. Our core focus is the discovery, development and extraction of deep-ocean minerals. Odyssey also provides marine services for private clients and governments. For additional details, please visit www.odysseymarine.com.
Forward Looking Information
Odyssey Marine Exploration believes the information set forth in this Press Release may include "forward looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934. Certain factors that could cause results to differ materially from those projected in the forward-looking statements are set forth in "Risk Factors" in Part I, Item 1A of the Company's Annual Report on Form 10-K for the year ended December 31, 2018, which was filed with the Securities and Exchange Commission on April 1, 2019. The financial and operating projections as well as estimates of mining assets are based solely on the assumptions developed by Odyssey that it believes are reasonable based upon information available to Odyssey as of the date of this release. All projections and estimates are subject to material uncertainties and should not be viewed as a prediction or an assurance of actual future performance. The validity and accuracy of Odyssey's projections will depend upon unpredictable future events, many of which are beyond Odyssey's control and, accordingly, no assurance can be given that Odyssey's assumptions will prove true or that its projected results will be achieved.
Cautionary Note to U.S. Investors
The U.S. Securities and Exchange Commission (SEC) permits mining companies, in their filings with the SEC, to disclose only those mineral deposits that a company can economically and legally extract or produce. We use certain terms in this press release, such as "measured", "indicated," "inferred" and "resources," which the SEC guidelines strictly prohibit us from including in our filings with the SEC. "Inferred mineral resources" have a great amount of uncertainty as to their existence, and great uncertainty as to their economic and legal feasibility. It cannot be assumed that all or any part of an inferred mineral resource will ever be upgraded to a higher category. U.S. investors are cautioned not to assume that part or all of the inferred mineral resource exists, or is economically or legally mineable, and are urged to consider closely the disclosures in our Form 10-K which may be secured from us or from the SEC's website at http://www.sec.gov/edgar.shtml.
Odyssey Marine Exploration, Inc.
(END) Dow Jones Newswires
December 12, 2019 08:30 ET (13:30 GMT)
Odyssey Marine Explo (OMEX)
3.82 ? 0.11 (2.96%)
Volume: 2,716 @10/17/19 11:31:10 AM EDT
Bid Ask Day's Range
3.73 3.82 3.7292 - 3.84
OMEX Detailed Quote
hi there, reading, will this ever hit $100 again ?????
Russian Fake News.
JEIL listed on KOSDAQ. Shinil Group private?
Sunken Spanish galleon has treasure worth as much as $22 billion (2018).
On July 15, a South Korean treasure hunting company called the Shinil Group claimed it found the wreck of a Russian warship, the Dmitrii Donskoi. The ship sank east of the Korean Peninsula more than 100 years prior during a 1905 battle with the Japanese while carrying a cargo of 200 tons of gold bullion, according to Shinil’s claim. The Shinil Group announced the find in a full-page newspaper ad, and also claimed that in 2019 they would distribute dividends worth 10% of the sunken treasure’s value to holders of the Shinil Gold Coin cryptocurrency — available on the newly launched Donskoi International Exchange. The company released a statement two days later that featured photos and video of the shipwreck, including what appeared to be confirmation of the ship’s name painted on the hull.
One Less Competitor?
10-year moratorium on deep sea mining in PNG not enough – activists.
Nautilus Minerals of Toronto has been trying for decades to get its proposed Solwara I project up (or down) and running in the Bismarck Sea.
Papua New Guinea government has lost its investment, too. At one point it purchased a 15% equity position in the project.
Darn tree huggers..
Noticed that crazy Hemm
Often nice moves with smaller volume. Needs to retake $5. Yahoo has it as "overvalued"
I does vary, often a big bump with NO news.
It's not easy being green
When green is all there is to be
Not off topic in the least
If proper care was taken
To look at the entire picture
Why did OMEX lose the gold off of Gibraltar?
Over a painting!
Which is covered in the archives of this board
Do a search
It is all about capitalistic freedom
Verses the chains of globalism
As we are a witness
Is caught in the middle
While waiting for an answer
Leader of the band
Where does a company go from here?
While waiting for the go
In going forward
This whole thing is nothing but a travesty
Pure politics, nothing but
Is this all for the globalist vs nationalism realm
In waiting for the ultimate in border security?
Time will tell