Core Viewpoint - TMC the metals company Inc. announced a $37 million registered direct offering to advance its commercial development plans and support operations through the potential issuance of a commercial recovery permit [1][2][3] Group 1: Offering Details - TMC will issue 12.3 million common shares at $3.00 per share, with each share accompanied by a Class C warrant to purchase one additional share at an exercise price of $4.50 per share [2] - The warrants have a three-year term and include a compulsory exercise provision if the stock trades above $7.00 per share for 20 consecutive trading days [2] - Gross proceeds are expected to total approximately $37 million before expenses, sufficient to fund operations through the potential issuance of a commercial recovery permit [2][6] Group 2: Strategic Partnerships - Michael Hess and Brian Paes-Braga are participating in the offering, bringing extensive experience in exploration and production [1][3] - The partnership aims to advance America's mineral independence and support the development of ocean minerals [3][6] Group 3: Regulatory Context - The offering is subject to customary closing conditions and is expected to close on or about May 22, 2025 [2] - Shelf registration statements related to the securities were filed and declared effective by the U.S. Securities and Exchange Commission [3]

Core Viewpoint - The Metals Company (TMC) is advocating for the United States to reclaim its leadership in deep-sea mining to enhance energy and supply chain security, as well as national defense, by responsibly unlocking critical minerals from the deep seabed [2][3][4]. Group 1: Deep-Sea Mining Potential - TMC's CEO Gerard Barron testified that the Clarion-Clipperton Zone, located 2.5 miles deep in the ocean, contains polymetallic nodules rich in nickel, cobalt, manganese, and copper, which hold more minerals than all known land-based reserves combined [3][4]. - The company estimates that seabed mineral extraction could create over 100,000 American jobs and generate over $300 billion in GDP [3][4]. Group 2: Regulatory Framework - The U.S. has a long-established regulatory framework for deep-sea mining through the Deep Seabed Hard Mineral Resources Act of 1980 (DSHMRA), which empowers NOAA to regulate exploration and commercial recovery [5]. - TMC USA has submitted the first-ever application for a commercial recovery permit under DSHMRA, marking a significant milestone in establishing a U.S.-regulated supply of critical seabed minerals [4][5]. Group 3: Environmental Considerations - Barron emphasized that real-world data dispels common environmental myths regarding deep-sea mining, asserting that the U.S. can develop these resources without sacrificing landscapes or communities [3][4]. - Dr. Thomas Peacock from MIT highlighted the need for decisions on deep-sea mining to be based on the latest scientific findings, countering misinformation about environmental impacts [3][4].

Core Viewpoint - President Trump's executive order aims to enhance U.S. self-sufficiency in critical minerals by promoting deep-sea mining, which could benefit companies like The Metals Company [2][4][11] Group 1: Executive Order and Its Implications - The executive order directs the secretaries of Interior and Commerce to expedite U.S. efforts in exploring deep-sea mining for critical minerals [2] - The order aims to develop domestic capabilities for exploration, characterization, collection, and processing of critical deep seabed minerals [4] - It seeks to strengthen partnerships with allies and industry to counter China's influence in the seabed mineral resource space [4] Group 2: The Metals Company Overview - The Metals Company focuses on deep-sea mining and has developed a system to collect polymetallic nodules from the seabed [5] - The company completed a successful pilot test in 2022, collecting approximately 4,500 metric tons of nodules and achieving a sustained hourly production rate of 86.4 metric tons [6] - The Metals Company holds exclusive exploration rights in the Clarion Clipperton Zone, with resources estimated to meet the requirements for 280 million electric vehicles [7] Group 3: Market Context and Challenges - The U.S. is heavily reliant on imports for 12 of the 50 minerals deemed critical, with China being a leading producer of 29 of those minerals [3] - The international community has not yet endorsed deep-sea mining, and The Metals Company is awaiting approval from the International Seabed Authority (ISA) for seabed mining regulations [8] - Trump's push for deep-sea mining has faced opposition from China, which claims the proposal violates international law [9] Group 4: Investment Considerations - While the executive order is seen as a positive for The Metals Company, uncertainties remain regarding the company's ability to commence commercial operations and achieve profitability [11][10] - Investors are advised to consider the high-risk nature of investing in The Metals Company at this time [12]

Core Viewpoint - TMC the metals company Inc. has submitted applications for a commercial recovery permit and two exploration licenses, marking a significant step towards the U.S. leadership in deep-sea mining and securing critical minerals for industrial use [1][2][12]. Group 1: Applications and Regulatory Framework - TMC USA has applied for a commercial recovery permit and two exploration licenses under the Deep Seabed Hard Mineral Resources Act (DSHMRA) and NOAA regulations, which are part of the U.S. seabed mining code [1][13]. - The commercial recovery permit application covers an area of 25,160 square kilometers known as TMC USA-A_2, which includes already indicated and measured resources in the Clarion Clipperton Zone (CCZ) [4][13]. - The applications are expected to be reviewed by NOAA, with an initial determination on compliance within 30 days and a full review including environmental evaluations thereafter [7]. Group 2: Resource Estimates - TMC USA believes the exploration areas TMC USA-A and USA-B contain SEC SK 1300-compliant resources of 1,635 million wet tonnes of polymetallic nodules, with an additional estimated 500 million tonnes of potential exploration upside [5][13]. - The estimated resources include approximately 15.5 million tonnes of nickel, 12.8 million tonnes of copper, 2.0 million tonnes of cobalt, and 345 million tonnes of manganese [5][13]. Group 3: Strategic Importance and Investment Potential - The strategic move under DSHMRA is expected to mobilize tens of billions of dollars in private sector investment across various U.S. industries, including shipbuilding, port infrastructure, and minerals processing [6]. - TMC has invested over half a billion dollars in deep-sea science, engineering, and technology to prepare for this moment, aiming to deliver the world's first commercial nodule project responsibly and transparently [4][6].

Entitled ‘Unleashing America's Offshore Critical Minerals and Resources', the Executive Order directs Commerce Secretary Lutnick to expedite deep seabed mineral exploration licenses and commercial recovery permits in international waters under the existing U.S. seabed mining codeThe Order also directs the Secretaries of Defense and Energy to address the feasibility of using the National Defense Stockpile for nodule-derived minerals and of entering into offtake agreements, while reviewing and revising domest ...

Editor's note: Seeking Alpha is proud to welcome FR Insights as a new contributing analyst. You can become one too! Share your best investment idea by submitting your article for review to our editors. Get published, earn money, and unlock exclusive SA Premium access.Technology innovation and commercialization analyst focused on energy, natural resources, and space sectors. Focus on frontier mining, including marine minerals, lunar resources, and uranium. Over 13 years of experience across startups, think t ...

Nodule collector vehicle Gerard Barron and Rutger Bosland inspect the Allseas-designed collector vehicle after NORI's test mining campaign in 2022. Rutger Bosland, the engineer and technical lead who oversaw the design, build and successful test deployment of Allseas’ integrated nodule collection system, joins TMC to lead offshore innovation and scale its technologies for commercial productionAs Chief Innovation and Offshore Technology Officer (CIOTO), Rutger will focus on the Company’s efforts to optim ...

Rutger Bosland, the engineer and technical lead who oversaw the design, build and successful test deployment of Allseas' integrated nodule collection system, joins TMC to lead offshore innovation and scale its technologies for commercial productionAs Chief Innovation and Offshore Technology Officer (CIOTO), Rutger will focus on the Company's efforts to optimize the performance of our commercial scale nodule collection system to meet our production ramp-up strategy to unlock the potential of our nodule resou ...

TMC the metals company (TMC) Q4 2024 Earnings Call March 28, 2025 01:52 AM ET Company Participants Craig Shesky - CFOGerard Barron - Chairman and Chief Executive OfficerJake Sekelsky - MD & Head of Metals & Mining Research Conference Call Participants Matthew O'Keefe - AnalystDmitry Silversteyn - Senior Research Analyst Operator Good day, and thank you for standing by. Welcome to The Metals Company Fourth Quarter twenty twenty four Corporate Update Conference Call. At this time, all participants are in a li ...

Financial Data and Key Metrics Changes - In Q4 2024, the company reported a net loss of $16.1 million, or $0.05 per share, compared to a net loss of $33.5 million, or $0.11 per share for the same period in 2023, indicating a significant reduction in losses [66] - Exploration and evaluation expenses decreased to $8.3 million from $26.7 million in Q4 2023, primarily due to the completion of Campaign 8 and lower costs in mining technology and process development [66][67] - General and administrative expenses increased to $8.1 million from $6.6 million in Q4 2023, mainly due to higher share-based compensation and consulting costs [67] Business Line Data and Key Metrics Changes - The company successfully completed its first integrated collection system test since the 1970s, lifting over 3,000 tons of nodules to the surface, and processed them into high-grade nickel-copper-cobalt alloy and manganese silicate [15] - The company has conducted 23 offshore research campaigns, significantly more than most contractors, demonstrating its commitment to environmental studies and resource evaluation [16] Market Data and Key Metrics Changes - The company is preparing to submit applications for commercial production under the U.S. regulatory framework, which has been in place since the 1980s, indicating a strategic shift in its operational approach [19][20] - The geopolitical landscape is shifting, with increased interest in deep-sea mining from countries like China, South Korea, Japan, and India, which could positively impact the total addressable market for the company's services [31][34] Company Strategy and Development Direction - The company aims to leverage its extensive environmental data and research to pursue commercial production through the U.S. regulatory framework, which is viewed as more favorable than the current ISA process [19][42] - The focus is on responsible extraction of polymetallic nodules with minimal environmental impact, positioning the company as a leader in sustainable deep-sea mining [10][12] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's readiness to begin production, citing extensive environmental data and a well-designed system to minimize impacts [18][59] - The management highlighted the importance of U.S. leadership in the deep-sea mining industry, especially in light of geopolitical tensions and the need for metal independence [33][34] Other Important Information - The company has gathered nearly one petabyte of environmental data, which is one of the largest datasets compiled for deep-sea mining, supporting its application for commercial recovery [59] - The company has initiated a formal process of pre-application consultation with NOAA, which is expected to facilitate the permitting process [21][46] Q&A Session Summary Question: Clarification on DSHMRA and license areas - Management clarified that the U.S. will argue for access to high seas under the Freedom of the Seas Treaty, and the specific areas for application are still under discussion [75][77] Question: Participation of Allseas in the U.S. application - Management confirmed that Allseas can legally participate as a partner, provided the production vessel is U.S. flagged [82] Question: Impact of NOAA process on permitting - Management indicated that the NOAA process is viewed as an advantageous new path, not a complete shift from the ISA pathway [88] Question: Timeline for economic study and application submission - Management expects the economic study to be completed in advance of the U.S. applications, which are planned for June [97] Question: Environmental impact study completion - Management stated that the environmental writing is progressing rapidly and is expected to align with the economic feasibility study [102] Question: Termination of contract with a third sponsor state - Management explained that the decision was based on prioritizing resources on more promising blocks, NORI and TAMO, which require focused investment [106][108] Question: Future revenue from service business - Management expressed optimism about the service business, highlighting the expertise built around environmental work programs and resource definition [112]