Overview
- Shares now trade near $4.59 after a 2025 run that pushed the stock above $11, prompting fresh debate over whether the pullback is a chance or a warning.
- TMC explores seabed rocks rich in nickel, cobalt, copper, and manganese for batteries, but it cannot begin without a permit from the National Oceanic and Atmospheric Administration.
- The application advanced after a White House finding of “substantial compliance,” and the company says it expects a permit within a year, which remains an expectation rather than a certainty.
- Cash stood at $117.6 million at the end of 2025 against more than $140 million in operating losses last year, underscoring a funding runway paired with heavy spending.
- No company has proven deep-sea metal mining at commercial scale, which keeps TMC’s technology and timing in doubt and fuels environmental concerns despite a 2023 study that claimed lower impact.