Tmc The Metals Company Inc Stock Price, News & Analysis

The Metals Company (Nasdaq: TMC), a developer of critical metals from seafloor polymetallic nodules, has scheduled its second quarter 2025 corporate update conference call for Thursday, August 14, 2025, at 4:30 p.m. ET.

The company will discuss Q2 2025 financial results and recent corporate developments during the call, which will be available via audio dial-in and virtual webcast with slides. A replay of the webcast will be accessible approximately two hours after the event in the 'Investors' section of TMC's website.

TMC (NASDAQ: TMC) has released two groundbreaking economic studies with a combined Net Present Value of $23.6 billion. The company published a world-first Pre-Feasibility Study (PFS) for its NORI-D polymetallic nodule project with an NPV of $5.5 billion and declared the first-ever Mineral Reserves of 51 million tonnes for deep-sea polymetallic nodules.

The project expects to commence commercial production in Q4 2027, scaling to 10.8 million tonnes annual production rate of wet nodules at steady state (2031-2043). The company projects steady-state production of 97 ktpa nickel, 2,389 ktpa manganese, 70 ktpa copper, and 7.4 ktpa cobalt with first-quartile production costs of $1,065 per tonne of nickel.

Additionally, TMC released an Initial Assessment for the remaining NORI and TOML areas, showing an NPV of $18.1 billion with a 36% IRR. The studies follow TMC USA's commercial recovery permit application and a strategic investment from Korea Zinc.

[ "World-first declaration of Mineral Reserves for deep-sea polymetallic nodules with 51 million tonnes of probable reserves", "Combined NPV of $23.6 billion across both studies with strong IRRs (27% for NORI-D, 36% for remaining areas)", "First quartile cost position with cash costs of $1,065/tonne nickel including byproduct credits", "High steady state EBITDA margins of 43% for NORI-D and 57% for remaining areas", "Strategic investment secured from Korea Zinc, a major non-ferrous metal smelting group", "Capital-light approach leveraging existing infrastructure with only $113M initial development capex each from TMC and Allseas" ]

TMC (NASDAQ: TMC) and the Kingdom of Tonga have signed a revised Sponsorship Agreement updating their 2021 terms regarding Tonga Offshore Mining Ltd (TOML). The new agreement ensures continued benefits for Tonga from future seafloor mineral resource development by TOML or other TMC subsidiaries.

The agreement comes amid significant delays at the International Seabed Authority (ISA) in adopting Exploitation Regulations, which were required by 2023 and expected by 2025. These delays have hindered TOML's ability to proceed with commercial exploitation activities. The agreement maintains Tonga's existing financial benefits, training programs, and social initiatives while guaranteeing continuity benefits upon the start of commercial production.

TMC (Nasdaq: TMC) has appointed Michael Hess and Alex Spiro to its Board of Directors as the company advances its plans for commercial recovery of polymetallic nodules in international waters under U.S. regulations. Michael Hess, with over 15 years of experience in energy infrastructure and investment, currently serves as CIO of Hess Capital and brings expertise in financing and developing U.S. energy supply chain businesses. Alex Spiro, a prominent U.S. attorney and investor, joins with extensive experience in regulatory, governance, and capital markets across energy, technology, and mining sectors. These strategic appointments strengthen TMC's board as the company executes its U.S. strategy, following a recent Executive Order designating seabed minerals as critical to U.S. national security and TMC's commercial permit application.

Korea Zinc has agreed to make a strategic $85.2 million investment in TMC through the purchase of 19.6 million common shares at $4.34 per share, along with a three-year warrant to purchase 6.9 million additional shares at $7.00 per share. Upon closing on June 26, 2025, Korea Zinc will own approximately 5% of TMC's outstanding shares. As a world leader in non-ferrous metal refining and pCAM technology, Korea Zinc is currently evaluating TMC's nodule material samples and exploring potential processing and refining pathways in the US. This partnership comes as TMC advances its commercial recovery permit application with NOAA and prepares to release a pre-feasibility study in Q3 2025. The investment boosts TMC's pro forma cash balance to nearly $120 million, supporting the development of the Hidden Gem commercial production system.

TMC and the Government of Nauru have signed a revised Sponsorship Agreement updating their 2017 terms regarding Nauru Ocean Resources Inc. (NORI). The new agreement ensures Nauru will continue receiving existing financial benefits, training programs, and community benefits, while guaranteeing continuity benefits upon commercial production by NORI or another TMC subsidiary. The agreement comes amid challenges with the International Seabed Authority's (ISA) delayed adoption of Exploitation Regulations, which has impeded NORI's planned commercial exploitation activities. Nauru will direct most financial benefits into its Intergenerational Trust Fund to enhance long-term economic resilience. The partnership, spanning 14 years, has resulted in 22 offshore research campaigns and the first integrated mining test in the Clarion Clipperton Zone since the 1970s. Both parties acknowledge the recent U.S. Executive Order and existing seabed mining code as providing a stable regulatory path forward.

TMC reported its Q1 2025 results with a net loss of $20.6 million ($0.06 per share) and total liquidity of $43.8 million. The company announced a $37 million strategic investment through a registered direct offering at $3.00 per share, with accompanying warrants at $4.50. TMC USA submitted the first-ever commercial recovery permit application for deep-sea minerals under U.S. law, covering 25,160 square kilometers in the Clarion Clipperton Zone. The company also filed two exploration license applications for areas containing an estimated 1.635 billion wet tonnes of polymetallic nodules with approximately 15.5M tonnes of nickel, 12.8M tonnes of copper, 2.0M tonnes of cobalt, and 345M tonnes of manganese. President Trump signed an Executive Order to expedite permitting processes for seabed resources, directing various agencies to support the industry's development.

TMC has secured a $37 million strategic investment through a registered direct offering led by Michael Hess (Hess Capital) and Brian Paes-Braga (SAF Group). The offering includes 12.3 million common shares at $3.00 per share, with each share accompanied by a Class C warrant exercisable at $4.50 per share. The warrants have a three-year term with mandatory exercise if shares trade above $7.00 for 20 consecutive days.

The funding comes at a strategic time following President Trump's Executive Order to accelerate seabed mining and TMC's submission of the world's first commercial recovery application for nodules in international waters. The proceeds will fund operations through the potential issuance of a commercial recovery permit, advancing the company's position in deep-sea mineral development.

The Metals Company (Nasdaq: TMC) has scheduled its first quarter 2025 corporate update conference call for Wednesday, May 14, 2025, at 4:30 p.m. ET. The call will cover Q1 2025 financial results and recent corporate developments. The company, which explores seafloor polymetallic nodules for critical metals, focuses on supplying materials for energy, defense, manufacturing, and infrastructure sectors while maintaining lower environmental impact compared to conventional mining methods.

The conference will be accessible via audio dial-in and virtual webcast with slides. A replay of the webcast will be available approximately two hours after the event in the 'Investors' section of the company's website.