Tags: ss gairsoppa | 61 | tons | silver | found

SS Gairsoppa: 61 Tons of Silver Found in Odyssey Exploration

Image: SS Gairsoppa: 61 Tons of Silver Found in  Odyssey Exploration

Wednesday, 24 Jul 2013 07:00 AM

By Newsmax Wires

Odyssey Marine Exploration Inc. recovered 61 tons of silver this month from the SS Gairsoppa, a World War II shipwreck lodged nearly three miles below the surface of the Atlantic Ocean off the coast of Ireland.

Odyssey recovered 1,574 silver ingots weighing a total of about 1.8 million ounces from the SS Gairsoppa, the Tampa, Florida-based deep-sea salvage company said in a statement Monday. The 412-foot (126-meter) British cargo ship was torpedoed by a German U-boat in February 1941, according to Bloomberg.

Latest: Do You Support Giving Illegals Citizenship? Vote Here Now

The metal was worth about $630,000 when the Gairsoppa was sunk and about $36 million at today’s prices. Odyssey has recovered a total of 2,792 ingots from the wreck, about 99 percent of the insured silver reported to be aboard when the vessel sank.

"We have accomplished a world-record recovery at a depth never achieved before," Odyssey Chief Operating Officer Mark Gordon said in the statement.

Odyssey fell 3.2 percent to $3.35 at the close in New York. The shares have climbed 13 percent this year.

The Gairsoppa left Kolkata in December 1940 carrying pig iron, tea, silver, and other cargo, destined for Liverpool, England, Odyssey said. It was torpedoed about 300 miles southwest of Galway, Ireland. Only one member of the 85-person crew survived after spending 13 days in a lifeboat.

Odyssey has salvage contracts with the U.K. that allow it to retain 80 percent of the net silver value recovered from the Gairsoppa. The silver retrieved this month was taken to a secure facility in the U.K.

Odyssey found the wreck in 2011 and recovery efforts began in May 2012. The company announced in 2011 plans to salvage cargo from the SS Mantola, about 100 miles from the Gairsoppa site. The British vessel was sunk by a German submarine in 1917 with 600,000 ounces of silver aboard.

Editor's Note: Should ObamaCare Be Repealed? Vote in Urgent National Poll

Related stories:

Odyssey Marine Jumps on Silver-Laden Shipwreck Find

200-Year-Old Shipwreck Found in Gulf

Shipwreck Divers Find Treasure Trove Worth Millions in Caribbean  

© 2015 Newsmax. All rights reserved.

Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Country
Zip Code:
Privacy: We never share your email.
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
You May Also Like

The 2016 'Book Race': GOP Candidates Like Ben Carson, Huckabee Sell Like Hotcakes

Friday, 30 Jan 2015 20:50 PM

If potential Republican presidential candidates' recent book sales are a strong indication of their electability, then B . . .

Smoke on Boston Train Scares Passengers Who Bust Out Windows to Escape

Friday, 30 Jan 2015 19:37 PM

A commute on Boston's Red Line Thursday morning turned into chaos as smoke filled the train and passengers broke out win . . .

Seth Jackson Sentence: Foster Dad Gets 32 Months in Hot Car Death

Friday, 30 Jan 2015 18:50 PM

Kansas foster dad Seth Jackson was sentenced to 32 months in prison Friday for the July death of a 10-month-old girl who . . .

Top Stories

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved