Robert Evans's questions to ODYSSEY MARINE EXPLORATION (OMEX) leadership • Q1 2015
Question
Robert Evans of Pennington Capital Management LLC inquired about the potential revenue generation model for the Don Diego phosphate project following environmental approval and how its consistency would compare to the historically lumpy revenue from shipwreck exploration.
Answer
CEO Mark Gordon stated that while it is premature to discuss specifics, the project would extract a form of phosphate that can be refined into a sellable product like Rock Phosphate. He confirmed that, generally, mineral projects are pursued with the strategic goal of creating steady, predictable, and recurring annual revenue, which would be a significant shift from the highly episodic results of the shipwreck business.