Group 1: Critical Minerals Investment Theme - The investment theme of critical minerals is gaining traction among growth investors, particularly in the context of rare-earth companies and metal producers that support advanced technologies [1] - The focus is on identifying mineral stocks that offer significant opportunities for personal wealth building [1] Group 2: USA Rare Earth - USA Rare Earth is set to debut on public markets in March 2025 after merging with a special purpose acquisition company (SPAC) and aims to become a vertically integrated provider of rare-earth magnets [5] - The company’s Round Top deposit contains 15 of the 17 rare-earth elements, including all heavy rare-earth elements, setting it apart from other U.S. rare-earth companies [5] - A recent letter of intent (LOI) with the U.S. government includes a planned investment of $1.6 billion in equity, which mitigates previous risks related to the Round Top project [6] - With the U.S. government focused on strengthening domestic supply chains for rare-earth materials, USA Rare Earth presents a promising opportunity for investors as it prepares for commercial-scale production in Q1 2026 [7] Group 3: TMC The Metals Company - TMC The Metals Company is targeting the production of copper, cobalt, nickel, and manganese, which are essential for various applications, including defense and technology [8] - The company plans to harvest polymetallic nodules from the seafloor, which contain the aforementioned metals, and transport them for processing [9] - TMC has formed a partnership with Korea Zinc, which includes an equity investment and collaboration on refining metals from the recovered nodules [9]

Core Viewpoint - TMC the metals company Inc. experienced a significant decline of 17.69% in stock price, closing at $7.77, as investors engaged in profit-taking while awaiting updates on its deep-sea mining application in the Clarion Clipperton Zone (CCZ) [1][4]. Group 1: Company Developments - TMC submitted an application to the National Oceanic and Atmospheric Administration (NOAA) for an exploration license and a commercial recovery permit, expanding its coverage area in the CCZ from 25,000 square kilometers to 65,000 square kilometers [2]. - The new application is described as a culmination of over a decade of scientific, engineering, and environmental work, aiming to establish a critical minerals project with an estimated 800 million tonnes of nodules containing high-grade nickel, copper, cobalt, and manganese [3]. - TMC's Chairman and CEO, Gerard Barron, emphasized that the application reflects the project's maturity and readiness for commercial operations under the US regulatory framework [4]. Group 2: Regulatory and Market Context - TMC, originally a Canadian company, faced criticism from members of the International Seabed Authority (ISA) for allegedly bypassing Canada in its submission to the US, although the company defended its actions by stating the submission was made through its US subsidiary [5].

Group 1 - TMC the metals company Inc. (NASDAQ:TMC) experienced a significant stock increase of 13.46%, closing at $9.44, following its application for exploration approval in the Clarion Clipperton Zone (CCZ) [1][2] - The company aims to secure an exploration license and a commercial recovery permit for polymetallic nodules, covering an area of approximately 65,000 square kilometers, which is an expansion from a previous application of 25,000 square kilometers in April 2025 [2] - TMC's Chairman and CEO, Gerard Barron, highlighted that the new application is the result of over a decade of scientific and engineering work, estimating over 800 million tonnes of nodules containing high-grade nickel, copper, cobalt, and manganese, with metal grades of approximately 3.2% nickel equivalent and 7% copper equivalent [3][4]

Core Insights - Rising geopolitical trade tensions have highlighted the importance of critical minerals and rare-earth elements for national security and energy independence [2] - TMC The Metals Company aims to meet the growing demand for domestically sourced critical minerals through deep-sea mining of polymetallic nodules [3][5] - The stock of TMC has experienced significant volatility, surging as much as 1,576% from its low last year due to increased investor interest in rare-earth companies [3] Industry Overview - Deep-sea mining is positioned as a potential new frontier for sourcing critical minerals, with TMC targeting the Clarion-Clipperton Zone for polymetallic nodules rich in nickel, copper, cobalt, and manganese [5][6] - The seabed mining industry could play a crucial role in building domestic reserves of critical minerals, as highlighted by TMC's CEO during a testimony to the U.S. House Committee on Natural Resources [6] Regulatory Environment - TMC faces significant regulatory hurdles before commencing deep-sea mining operations, including the need to obtain necessary permits [7][9] - An executive order signed by U.S. President Donald Trump emphasizes the administration's commitment to developing a domestic supply of critical minerals and aims to expedite the permitting process under the Deep Seabed Hard Mineral Resources Act [8]

Company Overview - TMC The Metals Company (NASDAQ: TMC) is a deep-sea mining specialist aiming to become a major mineral-sourcing player, having gone public through a SPAC merger in 2021 [1] - The company's share price has decreased by 15.5% since its market debut, despite a significant rally of 627% over the last year [2][4] - TMC is currently in a pre-revenue state, focusing on tests and obtaining regulatory approvals necessary for commercial operations [2] Industry Context - The U.S. heavily relies on China for mineral sourcing, particularly for rare-earth minerals, creating economic and national security concerns amid deteriorating U.S.-China relations [3] - TMC's strategy primarily involves collecting nodules containing base minerals, but there is growing investor interest in its potential to enter the rare-earth minerals market [4] Competitive Landscape - Kraken Robotics (OTC: KRKN.F) is highlighted as a company with exposure to the deep-sea mining space, providing technologies that could help reduce reliance on Chinese mineral sourcing [5] - Kraken specializes in deep-sea battery systems and synthetic aperture sonar (SAS), enabling uncrewed underwater vehicles (UUVs) to operate at significant depths and for extended periods [6] - The demand outlook for Kraken's technologies in deep-sea mining appears promising, contrasting with TMC's current pre-revenue status [7]

Core Viewpoint - TMC the metals company Inc. is experiencing positive market performance due to progress in its request for deep-sea exploration in international waters, with a notable stock price increase of 4.24% to $7.62 per share [1]. Group 1: Company Developments - TMC's submission for deep-sea mining activities will be formally reviewed by the US government next month, despite criticisms from the International Seabed Authority regarding the company's Canadian origins [2]. - The company, through its US subsidiary, has expressed intentions to mine in international waters, leveraging the US's non-membership in the International Seabed Authority [3]. - TMC argues that the International Seabed Authority does not have exclusive regulatory authority over seabed mining, citing existing claims outside of the United Nations Convention on the Law of the Sea (UNCLOS) [4].

Core Viewpoint - The Metals Company (TMC) is focused on deep-sea mining of polymetallic nodules to produce battery-grade metals, with a projected commercial production start in Q4 2027 if permits are secured [1][3]. Group 1: Company Overview - TMC aims to extract polymetallic nodules from the Pacific seafloor, which are rich in nickel, cobalt, copper, and manganese [6]. - The company has a projected project value of approximately $23.6 billion based on a recent feasibility study [1]. Group 2: Financial Status - TMC is currently pre-revenue, reporting a net loss of about $185 million and total liquidity of roughly $165 million for Q3 [3]. - The company lacks a commercial license, and the timeline for obtaining one remains uncertain [6]. Group 3: Industry Challenges - No company has successfully operated a commercial deep-sea mining project, and regulatory frameworks are still under discussion [4]. - Concerns from scientists and oceanographers about potential irreversible damage to ocean life pose significant challenges to TMC's operations [4]. Group 4: Market Considerations - Factors such as changes in battery technology or fluctuations in nickel and cobalt prices could impact TMC's long-term potential [5]. - The current investment sentiment suggests that TMC may only be suitable for investors willing to take high risks, with more conservative investors advised to seek alternatives [7].

Core Insights - The Metals Company (TMC) aims to extract battery metals from the Pacific seabed using a vacuum method, which could be more efficient and environmentally friendly than traditional mining [1][2] - TMC projects a potential commercialization start date in late 2027, making its current stock price under $10 intriguing for investors [4] - The success of TMC's plans hinges on securing sufficient capital, obtaining a commercial license, and overcoming technical uncertainties [5][7][9] Financial Overview - TMC has approximately $165 million in total liquidity as of the end of the third quarter, but ongoing cash burn raises concerns about its sustainability [5] - The current market capitalization of TMC is $3 billion, with a stock price of $6.85, reflecting a 52-week range of $0.72 to $11.35 [8] Regulatory and Technical Challenges - TMC requires a finalized rulebook for deep-sea mining from the International Seabed Authority (ISA) to obtain a commercial license, which is still under development [7] - The technology TMC plans to use has not been proven at scale, leading to potential technical and engineering challenges even if a license is granted [9] Investment Considerations - The current share price of TMC may be justified given the uncertainties surrounding deep-sea mining, with aggressive investors possibly considering long-term investments [10] - More conservative investors might prefer investing in metals exchange-traded funds (ETFs) instead of TMC shares [10]

Group 1 - The Metals Company (TMC) is a Canada-based deep-sea mining company focused on critical metals essential for electric car batteries, owning exploration rights in the Pacific Ocean for billions of wet tonnes of nodules containing nickel, copper, cobalt, and manganese [1] - TMC's stock has increased over 800% in the past year, with a $1,000 investment last year now worth approximately $9,000 [2] - The current trading price of TMC is nearly $8 per share, but the company is still pre-revenue and does not have a clear timeline for when mining will commence due to regulatory challenges [3][4] Group 2 - TMC is facing a regulatory impasse, as there is no established global framework for deep-sea mining, and the International Seabed Authority has not finalized the necessary rules [5] - Recent interest from the White House may provide a pathway for TMC to initiate commercialization by the end of 2027, although legal uncertainties remain regarding bypassing the ISA [6] - TMC reported a net loss of $184.5 million in the third quarter and has approximately $165 million in liquidity, indicating that it remains a speculative investment [7][8]

Core Insights - The Metals Company (TMC) has seen a significant stock increase of approximately 766% since December 2025, with a nearly 11-fold growth year over year as of mid-October [1][2] - The company focuses on deep-sea mining for polymetallic nodules, which contain critical metals essential for electric vehicle batteries and clean energy infrastructure [3][4] Company Overview - TMC is a Canadian-based deep-sea miner targeting polymetallic nodules rich in nickel, copper, cobalt, and manganese, which are vital for various technological applications [3] - The company has a market capitalization of $3 billion, with a current stock price of $7.93, and has not yet generated any revenue [3][6] Regulatory and Financial Challenges - TMC has not received regulatory approval for commercial mining, which poses a significant risk to its operations and potential revenue generation [4] - The company reported a third-quarter net loss of approximately $185 million, a staggering 780% increase compared to the previous year, highlighting its financial challenges [6]