TMC The Metals Co Inc (NAS:TMC)
$ 1.14 0.05 (4.59%) Market Cap: 369.66 Mil Enterprise Value: 378.47 Mil PE Ratio: 0 PB Ratio: 0 GF Score: 28/100
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Q3 2024 TMC the metals company Inc Earnings Call Transcript

Nov 14, 2024 / 09:30 PM GMT
Release Date Price: $0.956 (-0.04%)

Key Points

Positve
  • TMC The Metals Co Inc (TMC) announced a registered direct offering led by its largest non-affiliate institutional shareholder, enhancing financial resilience.
  • The company plans to submit Nori's application for an exploitation contract on June 27, 2025, which is a significant step towards unlocking value.
  • TMC is developing a new services business for seafloor resource development, leveraging its expertise in exploration and environmental impact assessments.
  • The company has completed a prefeasibility study for a capital-light strategy, reducing the need for preproduction CapEx.
  • TMC has secured over $60 million in credit facility capacity from its largest shareholders, ensuring financial stability.
Negative
  • TMC reported a net loss of approximately $20.5 million in Q3 2024, an increase from the $12.5 million loss in the same period of 2023.
  • Exploration and evaluation expenses rose to $11.8 million in Q3 2024 from $7.9 million in Q3 2023, primarily due to increased share-based compensation.
  • General and administrative expenses increased to $8.2 million in Q3 2024 from $4.6 million in Q3 2023, driven by higher personnel and legal costs.
  • The company's market cap is below the total capital raised, reflecting investor concerns over regulatory uncertainties and low cash balances.
  • TMC's share price has significantly decreased, from raising money at $10 per share before going public to around $1 currently.


Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

TMC.OQ - TMC the metals company Inc
Q3 2024 TMC the metals company Inc Earnings Call
Nov 14, 2024 / 09:30PM GMT

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Presentation
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Unidentified_1 [1]
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And I also don't see it on. Thank you.

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Unidentified_2 [2]
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For standing by your call. Will begin momentarily.

Good day and thank you for standing by. Welcome to the Metals Company third quarter, 2024 corporate update conference call. At this time, all participants are in listen-only mode. After the speaker's presentation, there will be a question and answer session to ask a question during the session. You'll need to press star 11 telephone. You'll then hear an automated message about when your hand is raised to enjoy your question.
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