Odyssey discovers more silver

TAMPA — Odyssey Marine Exploration Inc. (symbol: OMEX) located the shipwreck site of the SS Mantola this month. A 1917 insurance claim paid by the British government suggests the Mantola holds more than 600,000 ounces of silver.

While the price of silver is highly volatile, the precious metal's cumulative average price in 2010 was $20.19 per ounce, according to Kitco, a Canadian company that tracks commodity prices.

Two weeks ago, Odyssey announced that it had located the shipwreck site of the SS Gairsoppa, and estimated that the ship held 7 million ounces of silver.