Exploring and Developing Seabed Resources Responsibly
We hosted a fireside chat with Chief Executive Officer and Chairman of the Board of Directors Mark D. Gordon. This report contains a transcript of the fireside chat from October 12, 2023, which can be accessed on demand. Deep roots and unique capabilities. Odyssey Marine Exploration, Inc. is a company with nearly 30 years of experience exploring and recovering deep-sea sites, amassing more than 24,000 hours of deep-sea experience, and exploring more than 74,000 square kilometers of the seafloor in the process. In 2009, the company began focusing exclusively on the development of ocean mineral resources essential to humanity’s future. NAFTA decision looks imminent. OMEX is currently part of a NAFTA arbitration concerning what the company considers an illegal denial of its environmental permit by the Mexican government related to its seabed phosphate resource off the coast of Mexico. The company has been notified that the decision in the case is expected in 1Q24, giving investors a more definitive timeframe for the outcome and potential monetary award. Stronger balance sheet, cleaner slate. While awaiting the NAFTA arbitration decision, the company has taken steps to strengthen its balance sheet by raising $14 million in new debt and extinguishing $32 million in prior debt, along with $13.4 million in potential stock warrants, improving its balance sheet and removing the stock overhang. As part of the extinguishment of debt, OMEX also ended its association with its Mexican partner in the phosphate project, who did not have a good relationship with the current administration in that country. Attractive project portfolio. OMEX has recently made a second investment in a license holder in Cook Islands’ Exclusive Economic Zone (EEZ) for the purposes of exploring, defining, and eventually developing a seabed polymetallic nodule resource, giving the company part ownership in two of the three license holders in the EEZ. In addition, OMEX also holds ownership stakes in other projects, including a gold resource in Papua New Guinea As these projects move along the exploration and resource definition path, OMEX stands to benefit. Robust pipeline. OMEX focuses on developing a diverse portfolio of mineral and metal projects in different geographic areas within individual countries’ EEZs, with existing exploration and exploitation regulations and currently is considering a dozen such potential projects in its investment pipeline, with the pending NAFTA decision potentially accelerating some of these investments, or giving the company the opportunity to increase its stake in current investments, as well as provide funds needed to expand current projects’ exploration efforts.Odyssey Marine Exploration is engaged in deep-ocean exploration. The company's main focus is in the discovery, development and extraction of deep-ocean minerals. The company's techniques are also applied to shipwreck cargo recovery and other marine survey and exploration charter services. The company conducts archaeological excavations with remotely operated vehicles. The company's capabilities allow it to perform geophysical and geotechnical surveys, detailed mapping, sampling, and environmental assessments. The company also maintains capabilities in functions required for the shipwreck business, such as research, conservation, documentation and exhibit of rare artifacts and publication of archaeological excavation.
Water Tower Research is built on the foundation of democratizing information flow. We bridge the growing information gap between companies and investors through our investor engagement strategies and open-access research platform.
Our research analysts are Wall Street veterans with the experience and knowledge to work with companies and investors in tandem. We provide access to the information and content that anchors the due diligence process for both professional money managers and individual investors. We leverage traditional research distribution channels and the best of modern digital strategies and tactics to amplify this information flow globally to engage all categories of investors and stakeholders.
Information flow is the foundation for creating investor awareness, knowledge, and engagement. Our mission is to help companies and investors have the tools they need and achieve their goals.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.