Based on samples of nickel-cobalt-copper matte first produced by TMC in 2021, the Extractive Metallurgy team at SGS tested TMC's efficient flowsheet to process high-grade nickel-copper-cobalt matte directly to high-purity cobalt sulfate without making cobalt metal, while producing fertilizer byproducts instead of solid waste or tailings. This milestone follows last month's successful production of nickel sulfate, a key raw material input used in the production of energy-dense electric vehicle batteries. In ...

As reported by the Wall Street Journal, the House version of the fiscal year 2025 National Defense Authorization Act (NDAA) calls for $2 million allocated to the Defense Department's Industrial Base Policy Office to study the feasibility of developing domestic capacity to refine polymetallic nodule- derived intermediates to high-purity nickel, copper and cobalt products. The legislation also proposes to examine existing supply chains for such intermediates. In addition, TMC's U.S. subsidiary has an outstand ...

NEW YORK, May 23, 2024 (GLOBE NEWSWIRE) -- TMC the metals company Inc. (Nasdaq: TMC) ("TMC" or the "Company"), an explorer of the world's largest estimated undeveloped source of critical battery metals, today welcomed the introduction of legislation by the U.S. House of Representatives calling for financial support from the Defense Department's Industrial Base Policy office to "assess the feasibility of improving domestic capabilities for refining polymetallic nodule-derived intermediates into high-purity n ...

Financial Data and Key Metrics Changes - In Q1 2024, the company reported a net loss of $25.2 million or $0.08 per share, compared to a net loss of $13.7 million or $0.05 per share in Q1 2023 [25] - Exploration and evaluation expenses increased to $18.1 million from $7.2 million in Q1 2023, while general and administrative expenses rose slightly to $6.6 million from $6.2 million [25][26] - Free cash flow for Q1 2024 was negative $12.1 million, an improvement from negative $23.5 million in Q1 2023 [27] Business Line Data and Key Metrics Changes - The company has successfully pivoted to a capital-light model, reducing pre-production capital expenditure requirements [14] - Nickel prices have stabilized and increased by 18% in Q2 2024, which is beneficial for the company's operations [6] - Cobalt and copper prices have also seen significant increases, with copper prices up by 17% and manganese prices up by nearly 30% in Q2 2024 [15] Market Data and Key Metrics Changes - The company highlighted the growing interest in deep seafloor nodules for critical mineral supply chains, particularly in the context of U.S. defense and energy needs [8][17] - The company is positioned to provide alternatives to nickel sources controlled by China and Russia, which is increasingly relevant in the current geopolitical climate [6][8] Company Strategy and Development Direction - The company aims to launch its application for an exploitation contract following the July ISA meeting, focusing on the NORI-D area [53] - The strategy includes securing strategic partnerships and leveraging existing processing infrastructure in regions like Indonesia and Japan [76][89] - The company is committed to addressing environmental concerns through comprehensive data collection and impact assessments [49][58] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence that emerging data will counteract activist-driven speculation regarding environmental impacts [58] - The company is optimistic about the regulatory progress and the potential for the U.S. to enhance its position in the deep-sea mining industry [47][88] - The management noted that the demand for metals derived from polymetallic nodules is expected to grow, particularly in the context of electric vehicle production [44][82] Other Important Information - The company has accumulated the most comprehensive deep-sea dataset ever collected in the Clarion Clipperton Zone, which is being shared with public databases [19] - The company has sufficient liquidity, with $49 million in total liquidity as of March 31, 2024, to meet its working capital and capital expenditure requirements for at least the next 12 months [9][57] Q&A Session Summary Question: What is the timeline for the Chinese entities expected to conduct tests next year versus your timeline? - Management indicated that Chinese contractors expect to be in production by the early 2030s, while the company plans to lodge its application after the July ISA meeting in 2024 [62][80] Question: How does the company view the U.S. Senate's ratification of the UN Convention? - Management stated that if the U.S. does not ratify the UN Convention, it underscores the necessity for the U.S. to partner with contractors like the company to access deep-sea resources [87] Question: What is the company's liquidity status and application demands? - The company confirmed it has sufficient liquidity for the next 12 months, with an incremental $35 million to $45 million needed to launch the application following the July 2024 session [67][68] Question: Can you provide updates on strategic partnerships? - Management highlighted ongoing efforts in Asia, particularly in Indonesia, to leverage existing processing infrastructure for nodules, and emphasized the importance of strategic partnerships in achieving production goals [88][89]

Metal requirements 7.1 kg 6.6 kg COPPER MANGANESE COBALT 53 kg 56 kg ELECTRIC CAR 75kWh battery with NMC811 chemistry Metal contained value1 28% 11% 43% 18% POLYMETALLIC SEAFLOOR NODULE NICKEL We have demonstrated we can turn nodules into nickel sulfate, indicative of battery market suitability pending confirmation of preliminary assays. 10 HERE T the start for the production of 1 2017 11: Nasdaq: TMC Seabed-to-surface ocean research program Our EIS is focusing on addressing six primary concerns. Preliminar ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-39281 TMC THE METALS COMPANY INC. (Exact name of registrant as specified in its charter) British Columbia, Ca ...

Exhibit 99.1 TMC Announces First Quarter 2024 Results NEW YORK, May 13, 2024 — TMC the metals company Inc. (Nasdaq: TMC) ("TMC" or "the Company"), an explorer of lower- impact battery metals from seafloor polymetallic nodules, today provided a corporate update and first quarter financial results for the period ending March 31, 2024. Q1 2024 Financial Highlights Gerard Barron, Chairman & CEO of The Metals Company commented: "2024 is the year when most of the speculations about the environmental impacts of ou ...

TMC the metals company Inc. (NASDAQ:TMC) Q4 2023 Earnings Call Transcript March 25, 2024 4:30 PM ET Company Participants Craig Shesky - CFO Gerard Barron - Chairman and CEO Conference Call Participants Dmitry Silversteyn - Water Tower Research Matthew O'Keefe - Cantor Fitzgerald Vasu Patel - Patel Holdings LLC Operator Good afternoon, everyone, and thank you for participating in the metals company Fourth Quarter and Full Year 2023 Corporate Update Conference Call. Joining us today are the metals company's C ...

Key partners: PFS offshore progress 16 Post collection test monitoring Environmental baseline studies 17 18 PILOT COLLECTOR SYSTEM TEST PROGRAM IN 2022 100+ studies | --- | --- | --- | --- | --- | |-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 001-39281 Table of Contents Securities registered pursuant to Section 12(g) of the Exchange Act: None Indicate by check mark if the regi ...