---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-25-028794"
form_type: "8-K"
ticker: "TMC"
cik: "0001798562"
company_name: "TMC the metals Co Inc."
filed_at: "2025-03-27T23:59:59+00:00"
generated_at: "2026-05-24T04:06:27.602199+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001104659-25-028794
- form_type: 8-K
- ticker: TMC
- cik: 0001798562
- company_name: TMC the metals Co Inc.
- filed_at: 2025-03-27T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1798562/000110465925028794/0001104659-25-028794-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1798562/000110465925028794/tm2510631d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-25-028794
- JSON: https://secwatch.observer/filing/0001104659-25-028794.json
- Plain text: https://secwatch.observer/filing/0001104659-25-028794.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.