The Metals Company announces Q1 conference call amidst rash of good news
The Canadian Mining company at the forefront of deep sea mining has announced a conference call for next Wednesday 14 May to discuss its first quarter 2025 results, as well as corporate updates.
The Metals Company, which trades publicly on the Nasdaq Exchange in the United States, holds regular quarterly briefings for investors.
Next week's Q1 briefing will no doubt be buoyed by the good news of Donald Trump's executive order on deep sea mining and TMC's subsequent application through the National Oceanic and Atmospheric Administration to obtain a deep sea mining licence.
On the back of the news two weeks ago, TMC's stock price rose by well over 30% as buy-side trading volume surged.
The company's application for a licence was also submitted two months ahead of schedule, sending a message to investors that it was prepared and eager to harvest value for shareholders by surfacing the minerals and helping the US effort to re-industrialise and counter China's supply chain dominance of the critical minerals market.
In its Q4 briefing in December, the company had outlined its frustration with the pace of regulations at the International Seabed Authority and that it would be using the US regulatory route made possible by the Deep Seabed Hard Mineral Resources Act.
Q4 2024 and end of year financials
TMC closed out 2024 with a net loss of $81.3 million, driven by escalating general and administrative expenses of $30.6 million and exploration spending of $50.6 million in anticipation of commercialisation.
In Q4 alone, the company logged a net loss of $16.1 million or $0.05 per share, compared to $33.5 million or $0.11 per share for the year end quarter of 2023.
At the end of 2024, TMC said it held cash of approximately $3.5 million and short-term debt of $11.8 million, with an affiliate of Allseas Group SA ($7.5 million) and with the Barron/ERAS unsecured credit facility ($4.3 million).
Barron refers to CEO and Chairman Gerard Barron, whilst ERAS is the family office of the largest TMC shareholder, director Andrei Karkar.
The company said the credit facility with ERAS and Barron "would be sufficient to meet working capital and capital expenditure commitments for at least the next twelve months from today".
Looking ahead
In its upcoming briefing, TMC will be expected to close information gaps in its plans regarding its ISA contracts with subsidiaries Nauru Ocean Resources Inc (Nori) and its Kingdom of Tonga subsidiary (TOML).
The company will also be expected to provide an update on its pre-feasibility study having told investors in the last briefing that:
Our new application strategy raises a few questions and opportunities that we're working through with the qualified persons (QPs) who provide signoff on the PFS, but it is still our plan to have the PFS completed prior to application in late June.
Current share price
TMC's share price has been trading just around the USD$3.00 mark since its massive surge two weeks ago reached a high of USD$3.69. The stock has had an impressive April 2025.
However TMC has had volatile swings in the past, trading as high as USD$15.39 in September 2021 before reaching an all-time low of USD$0.51 just over a year and a half later in December 2022.
The company will be hoping that recent turn of events contributes to a permanent rise in its tide.
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