The Metals Company
Primary ticker: NASDAQ:TMC
Stage of development: Exploration, Development
Primary minerals: Nickel, Copper, Cobalt, Manganese
Project to promote: NORI Project in Clarion Clipperton Zone
Project location: International Waters of the Pacific Ocean
Website: metals.co
The Metals Company is an explorer of the world’s largest estimated undeveloped resource of battery metals for EVs. TMC’s resource in the Clarion Clipperton Zone of the Pacific Ocean contains a very high concentration of nickel, copper, cobalt and manganese, with an estimated resource of 1.6 billion tonnes of nodules, sufficient to support the electrification of 280 million EVs, equivalent to the entire U.S. passenger car fleet. The resource is in the form of polymetallic nodules, which sit unattached on top of the seafloor, so nodule collection requires no blasting, no drilling and no digging – the nodules are collected like golf balls on a driving range. Nodule collection in the Clarion Clipperton Zone was successfully done on a pilot basis by four consortia in the 1970s, including BP, Shell, Rio Tinto, Sumitomo, Lockheed Martin and US Steel. TMC has successfully concluded its own pilot trial, bringing 3,000 tonnes to the surface in Q4 2022.
Cash: USD6.8M (Dec 2023)
Debt: NIL
Major Shareholders:
ERAS Capital, LLC – 20%
Allseas Group S.A. – 18%
Gerard Barron (CEO & Chairman) – 7%
Management Ownership: Management/Directors – 30%
Financials
Management Profile
Craig Shesky – Chief Financial Officer
Craig has over 18 years combined experience in public investing, metals research and investment banking in New York. He spent 12 years at King Street Capital Management, most recently as senior analyst in charge of recommending investments in the global metals and mining space. He analyses electrification trends, battery chemistries and the resulting impacts on supply and demand for critical base metals, with particular expertise in nickel and copper. Craig also has significant experience navigating complex, legal-driven investments around the world, as King Street was one of the largest creditors in over a dozen global Lehman Brothers entities. He worked closely with administrators, creditors, lawyers and advisors to reach settlements, form JVs and accelerate recoveries, particularly in the US, UK, German, Swiss and Dutch Lehman administrations. He also spent two years as the top-tier analyst on the insurance and asset management investment banking team at Morgan Stanley.
Craig was raised in an iron mining family in Michigan’s Upper Peninsula, working as a production truck driver in Cleveland-Cliffs iron mines during college summers, becoming intimately familiar with open pit operations as well as the environmental and social challenges of terrestrial mining. Craig graduated magna cum laude with B.S. in Finance from the University of Notre Dame.
What is your rationale for taking part in 121 Mining Investment?
Raising awareness of our resource among investors
What recent news would you like to highlight to investors attending?
March 25, 2024 – TMC Announces Fourth Quarter and Full Year 2023 Results
March 14, 2024 – TMC Applauds ~350 Former U.S. Political and Military Leaders Urging Senate to Ratify Law of the Sea for Deep-Sea Mine Sites “Each Containing a Trillion Dollars in Value”
March 13, 2024 – TMC Commends U.S. Congress on Bill to “Provide Financial, Diplomatic, or Other Forms of Support for Seafloor Nodule Collection, Processing and Refining” and Advancing International Regulations for Seafloor Resources
January 3, 2024 – Pentagon to Deliver Report on Domestic Processing of Seafloor Nodules by March 1 as President Biden Signs NDAA
December 28, 2023 – TMC Subsidiary NORI Completes Key Offshore Research Campaign, Evaluating Seafloor Ecosystem Function a Year Post Nodule Collection Test