TMC targets Q4 2025 NORI-D production, 130% capacity boost to 3M tonnes, extends Allseas credit facility

TMC the metals Co Inc.

NORI intends to submit ISA exploitation contract application after July 2024; expects production Q4 2025 if approved.
Project Zero Offshore System capacity increased 130% to an estimated 3.0M wet tonnes per annum via upgrades.
Company estimates $60–70M additional cash needed beyond $20M on hand; $25M credit facility extended to Nov 2024.
Allseas granted exclusive use of Hidden Gem; 4.15M common shares issued to Allseas as consideration.

item 1.01 item 8.01 item 2.02 item 7.01 item 9.01

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.