Odyssey Marine Exploration, Inc. (NASDAQ: OMEX), an ocean exploration pioneer engaged in the discovery, development and extraction of critical minerals that provide solutions to global challenges, reported results for the second quarter ended June 30, 2024, and provided an update on current projects and future plans.We are approaching the conclusion of our NAFTA arbitration case against Mexico for the ExO Project, with the final step being the Tribunal’s decision, which is currently being translated. The outcome of this case will be significant, and Odyssey is prepared with a robust business plan to continue our mission of unlocking valuable ocean resources that can help feed and power the future in any scenario,” said Mark Gordon, Odyssey Chief Executive Officer and Chairman of the Board of Directors.
“Odyssey is an industry leader in marine research and exploration with unique expertise that is highly sought after in the industry. We focus on multiple types of minerals in various regions and jurisdictions, which allows us to adapt to changing mineral markets and geopolitical conditions, ensuring resources are directed toward the best opportunities. Our capabilities can be used to advance our projects and those in which we invest, as well as to accelerate progress across the industry, enabling us to thrive and capitalize on the positive trends in the ocean mineral resource sector,” continued Gordon.
Odyssey also announced earlier this year that it received a payment of approximately $9.4 million from its residual economic interest in a shipwreck project. “Although we appreciate this financial boost from our past, we want to emphasize that we do not have interests in any other shipwrecks, and we do not expect legacy shipwreck projects to be an ongoing source of income. We remain committed to and focused on our subsea mineral exploration and development programs,” noted Gordon.