Silver Treasure Worth $18 million

[vladimir]

It's too bad they didn't find it in September--it would have been worth $22 million. From today's NY Times:

Sea explorers announced Monday the discovery of a new sunken treasure that they plan to retrieve from the bottom of the North Atlantic.

Off Ireland in 1917, a German torpedo sank the British steamship Mantola, sending the vessel and its cargo of an estimated 20 tons of silver to the seabed more than a mile down. At today’s prices, the metal would be worth about $18 million.

Odyssey Marine Exploration, based in Tampa, Fla., said it had visually confirmed the identity of the Mantola with a tethered robot last month during an expedition and had been contracted by the British Department for Transport (a successor to the Ministry of War Transport) to retrieve the lost riches.

 

[Jim Lapenta]

Makes the 4 g's of silver I cashed in today look like loose change.

 

[Tigerman]

Stumbling across that kind of treasure would have been handy. Definetly would have paid a dive trip or three.. Each year, for the rest of my life

 

[HowardE]

Well... Remember that Odyssey Marine's share is only $9 million dollars.

Last year (2010) according to their 10-K Statement filed with the SEC... Odyssey Marine lost $6.9

However... It's still a cool find... but it should be kept in perspective...

 

[Gilldiver]

Well... Remember that Odyssey Marine's share is only $9 million dollars.

Last year (2010) according to their 10-K Statement filed with the SEC... Odyssey Marine lost $6.9

However... It's still a cool find... but it should be kept in perspective...

Odyssey gets 80% after expenses, so they will be closer to 16 mil at the end of the day. That is if they get all of the silver out of the wreck which is the next challenge.