TMC metals reports Q2 2024 net loss of $20.2M, liquidity of $48.3M from credit facilities

TMC the metals Co Inc.

2024-Q2 EPS reported $0.14 revenue$814,000

Net loss $20.2M ($0.06 loss per share) vs $14.1M ($0.05 loss) in Q2 2023.
Cash used in operations $12.1M; cash at June 30, 2024 was $0.5M, with short-term debt $5.9M.
Increased borrowing capacity on credit facilities by $7.5M in Aug 2024: ERAS/Barron to $25M, Allseas affiliate to $27.5M; total liquidity ~$48.3M.
Produced world-first cobalt sulfate from seafloor nodules; appointed Steve Jurvetson as Vice Chairman and Brendan May to board.
ISA continues Mining Code negotiations targeting 2025 adoption; U.S. House allocated $2M for nodule refining feasibility study.

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.