secwatch.observer — SEC 8-K summary
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Issuer:     TMC the metals Co Inc. (TMC)
CIK:        0001798562
Form:       8-K
Filed at:   2023-11-09T23:59:59+00:00
Accession:  0001104659-23-116301
Event type: earnings
Sentiment:  neutral
Materiality: 0.65
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

TMC reports Q3 net loss of $12.5M, cash $22.5M; targeting Q4 2025 production
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- Net loss of $12.5M ($0.04/share) vs $27.9M ($0.12/share) in Q3 2022; exploration expenses fell to $7.9M from $22.7M.
- Cash $22.5M at Sep 30, 2023; total liquidity ~$56M including $9M from ERAS Capital and $25M undrawn credit facility.
- Pre-feasibility study and Environmental Impact Statement underway; commercial production targeted as early as Q4 2025.
- November 2023 offshore campaign to revisit nodule collector test site to strengthen EIS data.
- Registered Direct Offering of up to 12.5M shares at $2.00/share expected gross proceeds of $24.9M.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1798562/000110465923116301/0001104659-23-116301-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1798562/000110465923116301/tm2324516d2_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-23-116301

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