Shares of Odyssey Marine Exploration Inc. (NASDAQ: OMEX), a Tampa, Florida-based company engaged in archaeologically sensitive exploration and recovery of deep-ocean shipwrecks worldwide, surged in trading today.
OMEX shares ended the day 17.08% higher at $4.25 on above average volume of 2.04 million. The stock touched a new 52-week high of $4.36 in trading today.
Odyssey Marine last month announced that it executed a contract with JBR Recovery Limited to support the logistics, refining and monetization of the anticipated silver cargoes from SS Gairsoppa and SS Mantola when recovered.
OMEX has entered into a contract with UK Department for Transport for the Gairsoppa and Mantola projects. Under the terms of the contract, OMEX will retain 90% of the net salved value of the cargoes after recovery of expenses.