James Goold, a Washington-based lawyer who is acting for the Spanish government in the Odyssey shipwreck treasure case under way in Tampa (Florida), has confirmed today that the booty was found at the site of the wreck of the Spanish navy frigate, the 'Nuestra Señora de las Mercedes', which was sunk in a skirmish with the British navy off Portugal's Algarve coast in October 1804, just one year before the Battle of Trafalgar.

"The mystery is over," declared Mr Goold at a joint press conference with Culture ministry officials today at which he described Odyssey's actions as "morally and legally unacceptable. The treasure belongs to the Spanish navy."

Mr Goold went on to say that the elevated number of victims (more than 200) means that the wreck site "should be declared a naval cemetery," and reiterated the Spanish government's demand that the Florida-based deep-sea exploration company return the treasure, which is valued at around half a billion US dollars.

Spain 'very satisfied' with Odyssey treasure ruling
By: thinkSPAIN
Sunday, January 13, 2008

A statement issued by the Culture ministry has applauded the decision of a Florida judge to order American treasure hunters to tell Spain the exact location of an Atlantic Ocean shipwreck site at which gold and silver coins with an estimated value of more than €350 million euros was discovered last May.

The Odyssey Marine Exploration company has now been given two weeks to provide a full inventory of the artefacts recovered, and has also been obliged to allow in Spanish government inspectors.

Spain is anxious to confirm whether the treasure was found in Spanish waters, or if it comes from a shipwrecked Spanish galleon, in either of which cases, it will demand for its return.

Notwithstanding, Odyssey Marine insists that the wreck was found in international waters, but has been unwilling to confirm the location, fearing that any remaining treasure may be poached by their rivals.