via: WallStCheatSheet
by: Eric McWhinnie
July 20, 2012
Earlier this week, Odyssey Marine Exploration, a world leader in deep-ocean shipwreck exploration, announced it successfully recovered approximately 48 tons of silver bullion from the SS Gairsoppa. The British ship was torpedoed by a German U-boat and sank in three miles of water off the coast of Ireland during World War II. Despite the silver being submerged for 71 years, it is still a highly prized discovery as the precious metal has appreciated in value.
In a press release, the company explained the initial recovery of the sunken treasure totaled 1,203 silver bars or approximately 1.4 million troy ounces of silver. The total operation, which also includes the SS Mantola, could bring to the surface about 240 tons of silver, a record-breaking amount. The recovery is the heaviest and deepest haul of precious metals to date.
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