$500 million in lost Gold Treasure to be found by New Treasure Hunting Company.

Look like there is no one speaking, So I figured I should start talking about something.

Speaking of Gold and Silver, and how it's on the rise, perhaps some attention should be paid to the less popular and publicized methods of gold exploration. It doesn’t take an expert to notice how vast the mining industry is and what kind of numbers are being producing. However, there is little or no attention paid to the Treasure hunting companies who've also found sizeable amounts of gold and bouillon and have played a significant role in contributing to its market circulation in addition to providing answers to the mysteries of centuries ago. This is one topic I feel that is worthy of reading up on.

One new company that caught my eye is Marine Exploration INC: MEXP, whose opening inaugural press release claims to be preparing to investigate a lost Spanish galleon that sank over 300yrs ago in the Caribbean. MEXP reports that there is a sum of $500+ million of projected salvageable treasure on the sea floor ready to be explored. Heading the exploration efforts is the notable Burt Webber, a seasoned and renowned marine explorer at the ranks of Mel Fisher, whose history of deep sea treasure goes back over 35years. Read more about Burt Webber and his most notable accomplishments:  http://www.time.com/time/magazine/article/0,9171,920007-1,00.html

Read here to see what MEXP is saying on their website:

http://mexp.biz/news.html

OR read their Yahoo press release:

http://biz.yahoo.com/prnews/071004/aqth084.html?.v=23

What is Raising a growing concern are the legalities involved in a successful recovery of lost treasure, especially, $100's of millions of lost, uncirculated gold. And what does the mean financially for the parties responsible for such a discovery?

I was following this story in lieu of hearing what happened to Odyssey Marine Explorations: OMEX, whose latest predicament made international headlines.  This past year, OMEX, the leading marine salvage recovery company, had found a $500+ million of gold/bouillon treasure from an excavated shipwreck within the territorially disputed international waters off the British controlled waters of Gibraltar, Spain. 

When Spanish authorities found out of their successful discovery, they legally launched an investigation and had ordered the seizure of the recovered treasure, under legal action claiming that all historically sovereign property discovered within its territorial borders be accredited, if not returned to the "Kingdom of Spain".

On the contrary, OMEX, sanctioned through the British government, claimed that they were searching for a British vessel, the HMS Sussex, which sank in 1694 after it was leading an armada en route to a naval battle with French ships in the Mediterranean.  However, Spain’s historical/archeological experts insistently believed it to be an earlier vessel returning from Mexico known as the “Eldorado of the Seas”. 

The controversy originated when Spain claimed the wreck to be in its territorial waters and not in international waters, thus accusing the company (OMEX) of removing Spanish history from their sovereign waters. 

Click here for the original headlines concerning OMEX’s find :

http://en.wikipedia.org/wiki/Odyssey_Marine_Exploration

Thus the debate ensues over "who's" treasure does this belong to? Those that claimed it "theirs" over 300 years ago? Or those that found it? What rights do the parties have in the matter, and what kind of compromise can be met?

Read this link to continue to see what's going on with OMEX's legal predicament: http://biz.yahoo.com/ap/071030/spain_treasure_ship.html?.v=1

The question is, What kind of legal protection does a company like MEXP have over there findings? What might Spain try to do IF MEXP successfully achieves their object?  Is this just another example of a company having quality legal representation and counsel to protect their financial interests? Or does this raise a greater ethical and moral issue regarding the rights to historic artifacts, regardless of what financial impact it can create?

What will be interesting to see IF MEXP meets their objectives, and importantly what will their stocks do and how will they perform in the long haul? Will they be the next powerhouse Treasure Exploration company like Odyssey Marine Exploration: OMEX?   Keep your eye on this company in the future, we might just see them on the cover of National Geographic.

Does anyone have any comments or ideas?