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    Robert Evans

    Research Analyst at Pennington Capital Management LLC

    Robert J. Evans is the Managing Partner, Chief Investment Officer, and Fund Manager at Pennington Capital Management LLC, where he specializes in fundamental securities analysis and investment management across a diverse range of sectors. Over his more than 20-year career, Evans has developed in-depth research experience on dozens of companies and previously served as Managing Partner and Senior Research Analyst at Craig-Hallum Capital Group LLC, a top institutional research boutique he helped build. He founded Pennington Capital in 2010 and earlier worked at US Bancorp and Thomas Corporation, leveraging his MBA from the Carlson School of Management. Evans is a CFA charterholder, underscoring his expertise and professional credentials in investment management.

    Robert Evans's questions to ODYSSEY MARINE EXPLORATION (OMEX) leadership

    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.

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