TMC the metals company Inc TMC

Metals & Mining Industrial Metals & Minerals

TMC the metals company Inc. is a deep-sea minerals exploration company. The Company is focused on the collection and processing of polymetallic nodules found on the seafloor in international waters of the Clarion Clipperton Zone in the Pacific Ocean (CCZ), located approximately 1,300 nautical miles southwest of San Diego, California. The CCZ is a geological submarine fracture zone of abyssal plains and other formations in the Eastern Pacific Ocean, with a length of around 4,500 miles that spans approximately 1,700,000 square miles. These nodules contain high grades of four metals (nickel, copper, cobalt, manganese) which can be used as feedstock for battery cathode precursors (nickel, cobalt and manganese sulfates, or intermediate nickel-copper-cobalt matte) for electric vehicles (EV) and renewable energy storage markets; copper cathode for EV wiring, energy transmission and other applications, and manganese silicate for manganese alloy production required for steel production.

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TMC the metals company Inc > 2023 results - losses will continue for some time

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Post by TELEMARKERon Mar 28, 2024 12:17pm

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2023 results - losses will continue for some time

Net loss of $33.5 million and net loss per share of $0.11 for the quarter ended December 31, 2023
For the full year 2023, a net loss of $73.8 million or $0.26 per share (compared to $171 million and $0.71 per share in 2022)

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Rig Count Soars as Utilization Surpasses Industry Averages