Friday, May 16, 2014

HOT TIPS: Treasure Hunter Stock Under $2

Odyssey Marine Exploration, Inc. (OMEX), which recovered nearly 1,000 ounces of gold during an initial reconnaissance dive, is currently salvaging what it can find from the wreck of the SS Central America, a 280-foot wooden-hulled, three-masted side-wheel steamship.

In operation during the California Gold Rush, the ship made 43 successful round trips between New York and Panama, but on the 44th was caught in a hurricane and sank 160 miles off the coast of South Carolina.

When lost on September 12, 1857, the Central America carried consignments of gold for commercial interests, mainly in the form of ingots and freshly San Francisco-minted U.S. $20 Double Eagle coins.

OMEX recovered five gold ingots (shown in photo above) and two $20 Double Eagle coins (one 1857 minted in San Francisco and one 1850 minted in Philadelphia) during a two-hour reconnaissance dive. The gold ingots were stamped with assayer’s marks and weights that range from 96.5 to 313.5 troy ounces.

Odyssey was selected for the project by Ira Owen Kane, the court-appointed receiver who represents Recovery Limited Partnership (RLP) and Columbus Exploration LLC (CE). The contract has been approved by the Common Pleas Court of Franklin County, Ohio, which has given Mr. Kane responsibility with overseeing the recovery project.

The archaeological excavation, valuable cargo recovery and ship-board conservation will be conducted and underwritten by Odyssey on behalf of RLP. In return, Odyssey will receive 80% of recovery proceeds until a fixed mobilization fee and a negotiated day rate are paid. Thereafter, Odyssey will receive 45% of the recovery proceeds.

Remember: Before taking a tip from this website, Austin Carr -- that's me, the guy giving you the tip -- is a fictional stockbroker. Like, he doesn't exist.

3 comments:

LuAnn Braley said...

Ya never know, Austin. I've heard of an experiment where monkeys had a better record than stockbrokers when picking a portfolio. ;)

Jack Getze said...

I remember back in the 1970s some newspaper wag threw darts at the NYSE page, kept track of the stocks his dart picked out, and they did better than the Dow Jones for three years. Still, it's hard to give your money to a guy who throws darts for a living. Manage your own money is my advice --Fidelity, ETrade.

Austin Carr said...

Buy OMEX. You'll be happy by the end of summer.