Anyone have any thoughts on OMEX?

[treasurekidd]

I generally keep my stock portfolio full of blue chips in the industrial, consumer and financial sectors, but OMEX intrigues me. First, I love the company and what they do - who on this forum wouldn't? They are really the first serious players doing what they do, using cutting edge technology, following all the proper archeological rules, respecting all maritime traditions and laws, and best of all, they are having sucess. The SS Republic was a $500 million dollar haul. Now they have agreements with the British gov't to salvage the HMS Sussex, rumored to be worth over $500 million, and which should prove helpful in securing the same sort of agreement with their latest find, the potential $1 billion wreck of the HMS Victory. This does not include the companys "Black Swan" admiralty case, in which they are defending another find of 17 tons of gold and silver coins from a clain by the Spanish gov't. Proven wreck sites, cutting edge technology, and no serious competition - what else could we ask for? With a favorable settlement in the Black Swan case, I could see this going to $15 or higher. Anyone have any thoughts or feedback?

 

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[Philvis]

I definitely think OMEX is a good buy. Right now there stock is at $3.61, which isn't that bad of a buy. I got in with them when it was around $2.30 a couple years ago. To me, they are a long haul stock. You just buy it and keep an eye on the news. The day they announce a find, it always jumps. When the Black Swann find was pulled up, the stock jumped to $9 at one point that day. Had I a lot of shares, I would have sold, but I didn't have enough shares to really make the sale worth while. Between the Black Swann, the Victory, and the Sussex, the potential for them is great. Your ability to double or even triple or more your investment is definitely there. Like I said though, this is one of those stocks you buy and just forget until a find is made. Otherwise the stock seems to fluctuate in the $3-4 range.

 

[wreckdiver1715]

I'm a long term investor in Odyssey, they were OMR listed in the pink sheets trading at $0.15 a share when I started watching them back in 2002, and I finally bought in at close to $1.00 a share in 2003. I've seen some wild swings with this stock, and have bought and sold the stock many times, and made a healthy profit along the way. I still hold this stock in my portfolio.
Other shipwreck stocks that I have been watching include...

DPBE.PK
MEXP.OB
SFRX.OB
SVXA.OB



Investments in any stock that I mention is "High Risk", and I do not endorse either the purchase or sale of any stocks mentioned. My statements are just my opinion and should not be taken as a recommendation or endorsement.