ODYSSEY MARINE EXPLORATION (OMEX) Company Report

Odyssey Marine Exploration, Inc. (NASDAQ: OMEX) has received news that its unsolicited request for a potential U.S. offshore marine mineral lease sale has advanced.
The Bureau of Ocean Energy Management (BOEM) has initiated a formal review process for this request.
The potential marine mineral lease sale is located in federal waters offshore Virginia.

Dec 15, 2025, 7:35 PM

Press Release

Odyssey Marine Exploration's Offshore Mineral Lease Request Advances to Formal Review

OMEX

New Projects/Investments

Odyssey Marine Exploration's unsolicited request for a U.S. offshore mineral lease sale has advanced, with the Bureau of Ocean Energy Management (BOEM) initiating a formal review process for a potential lease in federal waters offshore Virginia.
The proposed lease area is believed to host heavy mineral sands, including titanium, zirconium, rare earth elements (REEs), and phosphate, which are essential for U.S. national security, advanced manufacturing, and agricultural productivity.
The next step in the BOEM review process will be the publication of a Request for Information and Interest (RFI) in the Federal Register to invite stakeholder input.
Odyssey is collaborating with Great Lakes Dredge & Dock Corporation (GLDD) to provide dredging services if the project advances.

Dec 15, 2025, 1:30 PM

Press Release

Odyssey Marine Exploration Provides Update on Project Advancements and Balance Sheet Improvements

OMEX

New Projects/Investments

Legal Proceedings

Debt Issuance

Odyssey Marine Exploration (OMEX) significantly improved its balance sheet by converting over $20 million of debt to equity, extinguishing all promissory notes.
The company achieved several project milestones in the past 90 days, including deploying autonomous benthic mini landers in the Cook Islands in October 2025 and launching a Mid-Atlantic project application in November 2025 to add rare earth elements to its portfolio.
OMEX secured a legal victory in Mexican court for its FOSSEC-MEX phosphate project, which has a conservative $1.3 billion Net Present Value (OMEX owns 35%) once permitted. Additionally, its OML Cook Islands project has a published resource report valuing its battery metal resource at $4.7 billion Net Present Value (OMEX owns 7%).
The company highlights a total potential asset value range of $700 million to $1.4 billion across its diversified portfolio, positioning it as a key U.S. publicly traded pure-play in the critical minerals sector.

Dec 10, 2025, 9:10 PM

Transcript

Odyssey Marine Exploration Provides Update on Project Milestones and Strategic Outlook

OMEX

New Projects/Investments

Legal Proceedings

Guidance Update

Odyssey Marine Exploration (OMEX) Chairman and CEO Mark Gordon provided an update on significant project milestones, including the October 2025 deployment of Autonomous Benthic Mini Landers in the Cook Islands and the November 2025 launch of a Bureau of Ocean Energy Management (BOEM) application for a Mid-Atlantic rare earth elements project.
The company improved its balance sheet by converting over $20 million of debt to equity, extinguishing all promissory notes, and secured a legal victory in Mexican court to restore concessions for its PhogsagMex phosphate project.
OMEX's PhogsagMex project has a conservative $1.3 billion Net Present Value once permitted, and its OML Cook Islands project has a published resource report estimating $4.7 billion Net Present Value for its battery metal resource.
The company estimates a total potential asset value range of $700 million to $1.4 billion across its diversified portfolio, positioning itself as one of the few U.S. publicly traded pure-plays in the critical minerals sector.

Dec 10, 2025, 9:10 PM

Transcript

Odyssey Marine Exploration (OMEX) provides update on project milestones, balance sheet improvement, and asset valuations

OMEX

New Projects/Investments

Legal Proceedings

Revenue Acceleration/Inflection

Odyssey Marine Exploration (OMEX) achieved significant operational milestones in October and November 2025, including the deployment of autonomous benthic mini landers in the Cook Islands for environmental data collection and the launch of a Mid-Atlantic project application under BOEM for rare earth elements.
The company strengthened its financial position by converting over $20 million of debt to equity, eliminating all promissory notes, and secured a legal victory in Mexico to restore concessions for its phosphate project, which benefits from phosphate being added to the U.S. critical minerals list.
OMEX's project portfolio holds substantial potential asset value, with the Mexican phosphate project having a conservative $1.3 billion Net Present Value (NPV) (OMEX owns 35%) and the OML Cook Islands battery metal resource valued at $4.7 billion NPV (OMEX owns 7%). The company also partnered with Great Lakes Dredge & Dock (GLDD) for its Mid-Atlantic project.

Dec 10, 2025, 9:10 PM

Transcript

Odyssey Marine Exploration Announces Third Quarter Results

OMEX

Earnings

New Projects/Investments

Odyssey Marine Exploration reported its third quarter results for the period ended September 30, 2025.
The company is focused on building a geologically and geographically diverse portfolio to serve multi-year demand for critical minerals, including phosphate and polymetallic nodules.
Recent milestones include a Mexican court restoring the legal validity of its subsidiary's concessions, submitting a request for a U.S. lease sale for critical minerals, and deploying technical equipment in the Cook Islands Exclusive Economic Zone.
$20.0 million of the company's debt was converted into common stock, which eliminated all outstanding promissory note obligations and enhanced liquidity.

Nov 12, 2025, 2:40 PM

Press Release

Odyssey Marine Exploration Applauds U.S. Government's Critical Mineral Designation for Phosphate

OMEX

New Projects/Investments

Odyssey Marine Exploration (OMEX) welcomes the U.S. Government's formal inclusion of phosphate on the nation's Critical Minerals List, which reinforces the company's strategic focus on developing domestic phosphate resources.
This designation is considered vital for U.S. manufacturing, agriculture, and national security, according to Mark Gordon, Chairman and CEO of Odyssey.
Odyssey is actively pursuing two phosphate projects, including the PHOSAGMEX joint venture for a North American fertilizer supply chain, and has requested a lease sale for a phosphate-rich area off the Mid-Atlantic coast.

Nov 11, 2025, 2:05 PM

Press Release

Odyssey Marine Exploration Files Offshore Critical Minerals Lease Request

OMEX

New Projects/Investments

Odyssey Marine Exploration (OMEX) has submitted an Unsolicited Request for Lease Sale of Marine Mineral Exploration and Development Rights to the U.S. Department of the Interior’s (DOI) Bureau of Ocean Energy Management (BOEM).
The proposed lease area, located off the Mid-Atlantic coast, is highly prospective for critical heavy mineral sands including titanium, zirconium, rare earth elements (REEs), and phosphate, which are vital for U.S. national defense, manufacturing, and food security.
If the lease is granted, the project will involve collecting environmental and geological data, with potential recovery operations utilizing shallow-water dredging, and will be enhanced by a collaboration agreement with Great Lakes Dredge & Dock Corporation (GLDD).
Mark Gordon, Odyssey's Chairman and CEO, highlighted the company's strong position to align private innovation with public support to secure America’s access to these critical materials.

Nov 7, 2025, 1:30 PM

Press Release

Odyssey Marine Exploration Updates on Critical Minerals Projects and Financial Health

OMEX

New Projects/Investments

Odyssey Marine Exploration (OMEX) highlights a strong macro environment for seafloor critical minerals, supported by U.S. government initiatives allocating $1 billion to $5 billion for critical mineral acquisition.
The company's financial situation has improved, with $2.4 million of debt recently converted to equity, bringing the year-to-date total to $12 million (approximately 60% of original debt), and OMEX is funded into 2026.
OMEX holds interests in a diversified portfolio of projects, including a 35% stake in the FOSACMEX Mexican phosphate project, valued internally at $1.3 billion, and stakes in Cook Islands polymetallic nodule projects (OML and CIC) with estimated resource Net Present Values of $4.7 billion each.
Key project advancements include the deployment of sophisticated tools in the Cook Islands for environmental data gathering and a new U.S. government and Cook Islands government cooperation agreement for exploration work.