The stock gained 7.38% to $5.82 in after-hours trading Tuesday after a $5.42 close. TMC reported $165 million in total liquidity, including $121 million in cash, as the CEO said there is no need to raise funds in public markets soon. Copper’s November listing as a U.S. critical mineral means all four metals in TMC’s nodules now carry critical status, and copper accounts for 17% of projected life-of-mine revenue in the company’s PFS. Regulatory developments include NOAA sending a draft deep-sea mining rule to the White House and an August NOAA compliance notice confirming priority rights for TMC’s U.S. subsidiary. August studies outlined a $23.6 billion project value, a $5.5 billion NPV for the NORI-D area, and 51 million tonnes of probable reserves, while trading shows elevated volume, bullish options activity, and higher implied volatility.
