Through research in Treece's library, they reconstruct the history of the lost treasure ship, locate a list of valuable items, including a gold pinecone filled with pearls, with the letters "EF" engraved on it, and learn that it identifies Elisabeth Farnese, a noblewoman for whom they were made by the king of Spain. Sanders is determined to locate at least one item on the list to establish provenance, since without it there is no real value to the treasure. Treece wishes to destroy the "Goliath" to put the morphine out of reach of Cloche, and Cloche interferes with their efforts so that he can recover the morphine for himself. During a running series of conflicts, Treece's friend Kevin is murdered by one of Cloche's henchmen. Adam betrays them and is killed when he triggers a booby-trap while trying to steal the recovered morphine. A climactic battle during the final dive ensues, with Cloche (who is killed by the giant eel) and his divers being killed in the destruction of the "Goliath" and the recovery of a gold dragon necklace that will provide the needed provenance of the treasure.