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Nov 2 2007   2:08PM GMT

Overheard: Underwater robot finds world’s largest treasure chest

Margaret Rouse Margaret Rouse Profile: Margaret Rouse

paul_hamilos.gif “October 17, 2007. A Spanish warship forced a US treasure hunting vessel back into port at gunpoint yesterday as it tried to leave Gibraltar in the latest episode in a battle over what is claimed to be the world’s largest recovery of treasure from the sea.”

Paul Hamilos, Spain forces treasure ship into port in battle over fortune in pieces of eight

Ok, it’s not exactly a treasure chest. It’s a ship. At least I think it’s a ship. Lots of rumors surrounding this one.

To protect the location of the treasure, Odyssey, the marine salvage company, has code-named the robot dive “Black Swan.” The excavation of “Black Swan” site follows Odyssey’s successful excavation of the SS Republic, a shipwreck lost in 1865 off the US coast. The deep ocean robot excavation of the Republic wreck had a retail value of over $75 million. Black Swan is rumored to be worth $500,000,000. That’s one reason Spain is so interested.

I’m going to get my niece Alex a share of Odyssey stock this Christmas. Should be a fun one to follow.

CNN Money has more info.

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