Friday, May 18, 2007

A $500 Million Haul

An exploration and salvage company based in Tampa, Florida, just hit the jackpot. Odyssey Marine Exploration uncovered a Colonial-period shipwreck containing more than 500,000 silver coins weighing over 17 tons. The coins are expected to fetch approximately $1,000 each when sold at auction. Not much is being disclosed about the location of the wreck for security reasons, but rumors place it off the coast of Cornwall in SW England.

Not surprisingly, Odyssey's stock price jumped up more than $3.00 after announcement was made this morning.

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