{"schema_version":"secwatch.filing_event.v1","accession":"0001104659-25-111272","form_type":"8-K","ticker":"TMC","cik":"0001798562","company_name":"TMC the metals Co Inc.","filed_at":"2025-11-13T23:59:59+00:00","discovered_at":"2026-05-14T18:02:40.492067+00:00","generated_at":"2026-05-16T20:29:51.820536+00:00","sec_items":["2.02","9.01"],"event_type":"earnings","sentiment":"negative","materiality_score":0.8,"calibrated_materiality_score":0.8,"confidence":"high","headline":"TMC Q3 net loss $184.5M ($0.46/sh); cash $115.6M; nodule reserve declared","bullets":["Net loss $184.5M ($0.46/sh) vs $20.5M ($0.06/sh) YoY; operating loss $55.4M.","Cash $115.6M at Sep 30, 2025; $121M after warrant exercises; total liquidity $165M including undrawn credit.","Published PFS for NORI-D project: NPV $5.5B, 51 Mt probable reserves; combined studies NPV $23.6B.","Produced battery-grade manganese sulfate from nodules; NOAA rule under White House review; all four nodule metals now critical.","G&A expenses $45.7M (vs $8.1M) on share-based comp and legal; royalty liability fair value up $131M to $145M."],"urls":{"canonical":"https://secwatch.observer/filing/0001104659-25-111272","json":"https://secwatch.observer/filing/0001104659-25-111272.json","markdown":"https://secwatch.observer/filing/0001104659-25-111272.md","text":"https://secwatch.observer/filing/0001104659-25-111272.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1798562/000110465925111272/0001104659-25-111272-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1798562/000110465925111272/tm2531198d1_8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-16T20:29:51.820536+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}