Interview with Mark Gordon, CEO, Odyssey Marine Exploration

Recording date: 29 May 2025

Odyssey Marine Exploration (OMEX) represents a unique investment opportunity in the emerging seafloor mining industry, leveraging three decades of deep ocean expertise to address global critical mineral shortages. The publicly traded company has successfully transitioned from historic shipwreck recovery to modern mineral extraction, positioning itself as a first-mover in an industry valued in the billions.

The company focuses on two strategic mineral categories essential for human needs: phosphate for fertilizer production and polymetallic nodules containing battery metals crucial for electrification. CEO Mark Gordon explains the operational advantage: "We learned how to use complicated equipment in the deep ocean, how to execute difficult projects in difficult environments." This expertise translates directly from archaeological recovery to geological extraction, utilizing the same sophisticated sonar systems, remotely operated submarines, and specialized vessels.

Odyssey's most advanced project involves phosphate extraction off Mexico's Pacific coast, where the resource is valued in the billions under 43-101 standards. The project awaits final environmental approval following successful NAFTA arbitration against previous political interference. Mexico currently imports over 50% of its phosphate requirements, creating substantial domestic market potential. "Mexico could turn into a net exporter almost instantly with this project," Gordon notes.

In the Cook Islands, Odyssey holds strategic minority stakes in two companies exploring cobalt-rich polymetallic nodules, with combined valuations approaching $9 billion. These investments provide battery metals exposure without direct operational requirements.

Recent catalysts include President Trump's pro-mining executive order and Mexico's new science-friendly administration under President Sheinbaum. Gordon anticipates significant developments within 30-90 days for Mexico and 6-12 months for Cook Islands projects.

The macro environment strongly supports seafloor mining development. As Gordon observes, "the critical minerals mankind is going to need into the future has to come from the 70% of our earth that's underwater because the 30% of the dry surface has been pretty exhausted." This fundamental resource constraint, combined with unprecedented demand for electrification and food security, positions Odyssey at the forefront of a transformational industry shift toward ocean-based mineral extraction.

Learn more: https://www.cruxinvestor.com/companies/odyssey-marine-exploration

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