Odyssey Marine Exploration Reports Full Year 2016 Results
Mark Gordon, Odyssey CEO, “Our onshore team has been hard at work developing plans to begin generating revenue from the Don Diego phosphate deposit as soon as possible after the environmental approval is obtained. Although we have been disappointed by the results of the administrative process for environmental approval at SEMARNAT, it was a necessary step in our multi-pronged strategy to achieve ultimate approval of the project. We have augmented the approval process with a legal mechanism that has strict deadlines and is normally completed within 8 months,” Gordon continued. “We remain confident in the extensive scientific documentation that demonstrates the offshore extraction of phosphate can be accomplished without harming the local environment, fishing and tourist activities, and we continue to believe in the ultimate approval of the project.
