TMC Metals reports 2024 net loss $81.9M; initiates U.S. seabed mining permit process in Q2 2025

TMC the metals Co Inc.

FY 2024 net loss $81.9M ($0.25/sh) vs $73.8M ($0.26/sh) in 2023; Q4 net loss $16.1M ($0.05/sh).
Cash $3.5M at Dec 31, 2024; ERAS/Barron credit facility increased to $44M ($41.5M available).
Allseas $25M facility terminated in Q1 2025; Allseas working capital loan extended to Sep 2025.
TMC USA initiates pre-application with NOAA under DSHMRA; expects to submit permits in Q2 2025.
PAMCO smelted 450 tonnes calcine into 35t Ni-Cu-Co alloy and 320t Mn silicate in commercial-scale trial.

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