---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-25-078582"
form_type: "8-K"
ticker: "TMC"
cik: "0001798562"
company_name: "TMC the metals Co Inc."
filed_at: "2025-08-14T23:59:59+00:00"
generated_at: "2026-05-17T13:21:22.221929+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# TMC reports Q2 net loss $74.3M; publishes NORI-D PFS with $5.5B NPV, targets Q4 2027 production

## Summary
- Q2 2025 operating loss $22M, net loss $74.3M ($0.20/share); cash $115.8M at June 30, 2025.
- Published world-first PFS for NORI-D: NPV $5.5B, 51Mt probable reserves, targeting Q4 2027 production start.
- Initial Assessment of broader NORI/TOML areas: NPV $18.1B; combined $23.6B across both studies.
- NOAA confirmed full compliance of TMC USA exploration license applications; now in certification stage (~100 days).
- Strategic investments: Korea Zinc $85.2M ($4.34/share) and RDO $37M ($3.00/share) bolster cash.

## SEC filing metadata
- accession: 0001104659-25-078582
- form_type: 8-K
- ticker: TMC
- cik: 0001798562
- company_name: TMC the metals Co Inc.
- filed_at: 2025-08-14T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1798562/000110465925078582/0001104659-25-078582-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1798562/000110465925078582/tm2523537d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-25-078582
- JSON: https://secwatch.observer/filing/0001104659-25-078582.json
- Plain text: https://secwatch.observer/filing/0001104659-25-078582.txt

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