TMC the metal company (US:TMC)2022-03-24 22:35Value Proposition - TMC is developing the world's largest estimated source of battery metals, potentially electrifying 280 million EVs [10] - Project One is expected to become the 2nd lowest cost nickel producer [10] - The first project, NORI-D, has a net present value of $22 billion at current metal prices, representing 22% of the company's estimated resource [11, 12] - TMC's portfolio has 16 million tonnes of total estimated resources [19] Strategic Update - Allseas intends to upgrade the pilot collection system into a commercial nodule collection system ("Project Zero System") [25] - The estimated cost of getting into production is expected to be reduced from US$163 million to less than US$110 million, to be shared equally by Allseas and TMC's subsidiary NORI [25] - Epsilon Carbon intends to deliver a pre-feasibility report ("PFR") for a nodule processing plant in India powered by renewables ("Project Zero Plant") [25] - Expected production includes 1.3 million tonnes per annum of wet nodules offshore and 30,000 tonnes of NiCuCo matte and 750,000 tonnes of Mn silicate onshore [23] Market & Resources - Nickel prices have increased by 144% since the beginning of Q4 2021 [42] - The NORI exploration area is 74,830 km2 with an estimated nodule tonnage of 4,866 million tonnes (wet) [62] - The TOML exploration area is 74,713 km2 with an estimated nodule tonnage of 768 million tonnes (wet) [62] Financials - The company had a net loss of $19.8 million in Q4 2021 [116] - The company's total cash was $84.9 million at December 31, 2021 [117]