TMC the metals company (TMC) Q4 2024 Earnings Call March 28, 2025 01:52 AM ET Company Participants Craig Shesky - CFOGerard Barron - Chairman and Chief Executive OfficerJake Sekelsky - MD & Head of Metals & Mining Research Conference Call Participants Matthew O'Keefe - AnalystDmitry Silversteyn - Senior Research Analyst Operator Good day, and thank you for standing by. Welcome to The Metals Company Fourth Quarter twenty twenty four Corporate Update Conference Call. At this time, all participants are in a li ...

TMC the metals company Inc. (NASDAQ:TMC) Q4 2024 Results Conference Call March 27, 2025 4:30 PM ET Company Participants Craig Shesky - Chief Financial Officer Gerard Barron - Chairman & Chief Executive Officer Conference Call Participants Matthew O'Keefe - Cantor Fitzgerald Jake Sekelsky - Alliance Global Partners Dmitry Silversteyn - Water Tower Research Operator Good day, and thank you for standing by. Welcome to The Metals Company Fourth Quarter 2024 Corporate Update Conference Call. At this time, all pa ...

Table of Contents 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, 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 Vancouver, British Columbia V6E 2J3 (Address of principal executive of ices) (Zip Code) (888) 458-3420 Secur ...

Q4 and FY 2024 Financial Highlights Gerard Barron, Chairman & CEO of The Metals Company commented: "Over the last decade, we've invested over half a billion dollars to understand and responsibly develop the nodule resource in our contract areas. We built the world's largest environmental dataset on the CCZ, carefully designed and tested an offshore collection system that minimizes the environmental impacts and followed every step required by the International Seabed Authority. But, despite collaborating in ...

NEW YORK, March 27, 2025 (GLOBE NEWSWIRE) -- TMC the metals company Inc. (Nasdaq: TMC) (“TMC” or “the Company”), an explorer of the world’s largest undeveloped resource of critical metals for building infrastructure, power generation, transmission, and batteries, today provided a corporate update and fourth quarter and full year financial results for the period ended December 31, 2024. Q4 and FY 2024 Financial Highlights Current liquidity available from our cash on hand and our credit facilities of approxim ...

Core Viewpoint - TMC the metals company Inc. is advancing its efforts to secure exploration licenses and commercial recovery permits for deep-sea mineral resources under the U.S. Deep Seabed Hard Mineral Resources Act of 1980, believing that the U.S. regulatory framework offers a stable and predictable path for development [1][2][3]. Group 1: Regulatory Framework - TMC USA has initiated a formal process with NOAA to apply for exploration licenses and commercial recovery permits, citing the U.S. seabed mining code as the most favorable for timely permit acquisition [1][2]. - The Deep Seabed Hard Mineral Resources Act (DSHMRA) was enacted in 1980, granting NOAA the authority to regulate exploration and recovery activities in international waters, with implementing regulations established in 1981 and 1989 [6]. - NOAA's approach to regulation is science-based and flexible, allowing for necessary trade-offs while ensuring environmental protection [6]. Group 2: Company Commitment and Strategy - Over the past decade, the company has invested over $500 million to develop its nodule resource and has created the largest environmental dataset on the Clarion Clipperton Zone (CCZ) [3]. - The company is encouraged by the growing recognition in Washington of the strategic importance of deep-sea minerals for America's supply chain and is moving forward with urgency in its application process [3][5]. - TMC USA expects to submit applications to NOAA in the second quarter of 2025, reflecting its commitment to responsible development and environmental stewardship [3][5]. Group 3: Environmental Considerations - The company has designed an offshore collection system aimed at minimizing environmental impacts and has adhered to all necessary steps required by the International Seabed Authority [3]. - NOAA has developed a Programmatic Environmental Impact Statement for the CCZ, ensuring that environmental permitting decisions are based on comprehensive data [6].

Core Viewpoint - TMC the metals company Inc. is set to provide an update on its fourth quarter and full year 2024 financial results and recent corporate developments during a conference call on March 27, 2025 [1]. Group 1: Conference Call Details - The conference call will take place on Thursday, March 27, 2025, at 4:30 p.m. ET [2]. - Participants can join via audio-only dial-in or a virtual webcast, which will be available for replay approximately two hours after the event [2]. Group 2: Company Overview - The Metals Company focuses on exploring lower-impact critical metals sourced from seafloor polymetallic nodules, aiming to supply metals for infrastructure, power generation, transmission, and batteries [3]. - The company has a dual mission: to provide metals with net positive impacts compared to conventional production methods and to trace, recover, and recycle these metals to create a sustainable metals commons [3]. - TMC holds exploration and commercial rights to two polymetallic nodule contract areas in the Clarion Clipperton Zone of the Pacific Ocean, regulated by the International Seabed Authority and sponsored by the Republic of Nauru and the Kingdom of Tonga [3].

Core Viewpoint - TMC the metals company Inc. has successfully produced high-grade nickel-copper-cobalt alloy and manganese silicate from deep-seafloor polymetallic nodules, marking a significant milestone in its feasibility program for commercial production in international waters [1][3][5]. Group 1: Production and Processing Achievements - TMC's subsidiary, Nauru Ocean Resources Inc., recovered 3,000 tonnes of nodules in 2022, with 2,000 tonnes processed at PAMCO's facility in Japan [2][5]. - A continuous smelting campaign over 14 days in January and February 2025 resulted in the production of high-grade nickel-copper-cobalt alloy and manganese silicate, utilizing approximately 450 tonnes of calcine material [2][5]. - The manganese silicate produced is intended for use in steelmaking, offering significant cost advantages over conventional manganese ores [5]. Group 2: Strategic Partnerships and Future Plans - The successful processing trial supports anticipated definitive processing agreements as TMC prepares to submit the world's first exploitation application for commercial production [5][6]. - TMC signed a Memorandum of Understanding with PAMCO in November 2023 to complete a feasibility study for processing 1.3 million tonnes of wet polymetallic nodules annually [6]. Group 3: Operational Efficiency and Cost Management - The integration of nodule processing into PAMCO's existing operations eliminates the need for new infrastructure, potentially saving billions in capital expenditures [4][5]. - The collaboration with PAMCO leverages their expertise in large-scale nickel laterite processing, enhancing operational efficiency and reducing development time [4][5].

Core Insights - TMC has successfully produced high-grade nickel-copper-cobalt alloy and manganese silicate from deep-seafloor polymetallic nodules during a smelting campaign, marking a significant milestone in its feasibility program [1][2][3] Group 1: Production and Processing - The company processed a 2,000-tonne sample of nodules at PAMCO's facility in Japan, utilizing a 3,000 kVA DC electric-arc furnace to produce the alloy and silicate [2][9] - The smelting campaign lasted 14 days, during which approximately 450 tonnes of calcine material were processed, confirming the feasibility of integrating nodule processing into existing metallurgical operations [2][9] - The manganese silicate produced is intended for use in steelmaking, offering significant cost advantages over conventional manganese ores [9] Group 2: Strategic Partnerships and Future Plans - TMC's collaboration with PAMCO allows the company to leverage existing processing capacity, avoiding high costs associated with building new plants, thus saving billions in capital expenditures [2][4] - The successful completion of the processing feasibility study positions TMC to submit the world's first exploitation application for commercial nodule production in international waters [3][9] - A Memorandum of Understanding was signed in November 2023 between TMC and PAMCO to process 1.3 million tonnes of wet polymetallic nodules annually, further solidifying their partnership [4][9] Group 3: Company Vision and Mission - TMC aims to supply lower-impact battery metals for the global energy transition while minimizing negative impacts on the environment and society [5] - The company holds exploration and commercial rights to three polymetallic nodule contract areas in the Clarion Clipperton Zone, regulated by the International Seabed Authority [5]

Group 1 - TMC the metals company experienced a significant stock price increase of 93%, rising from $0.74 on December 19, 2024, to $1.43 on January 27, 2025 [1] - The surge in stock price is attributed to growing optimism in the market regarding the company's prospects [1] Group 2 - The investment philosophy of the analyst focuses on value, particularly within the Metals & Minerals sector [1] - The analyst has over 5 years of experience in public markets and specializes in analyzing the dynamics of the Metals Trading industry [1]