Odyssey’s Shipwreck Gold Recovery Beating Expectations
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Odyssey Marine Exploration Inc. rose the most in more than seven years after saying recoveries at the site of the SS Central America, a ship that sank off the coast of South Carolina 157 years ago, are exceeding its expectations.
Odyssey gained 20 percent to $1.51 at the close in New York, the largest increase since May 2007. Odyssey has recovered ingots and other gold worth more than $100,000 in 1857 face value from the sidewheel steamer, which sits in waters more than a mile deep, the Tampa, Florida-based company said in a filing today. Items recovered included nuggets, jewelry and coins.