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Mar 31, 2024
Tmc Q1 2024 Earnings Report
Reported a net loss with increased exploration and evaluation expenses.
Key Takeaways
TMC reported a net loss of $25.2 million for Q1 2024, compared to a net loss of $13.7 million for Q1 2023. Exploration and evaluation expenses increased due to mining, technological, and process development costs.
Held approximately $4.0 million in cash at the end of the quarter.
Net loss was $25.2 million, or $0.08 per share.
Exploration and evaluation expenses were $18.1 million.
General and administrative expenses were $6.6 million.
Tmc
Tmc
Forward Guidance
The company believes that its total liquidity will be sufficient to meet its working capital and capital expenditure commitments for at least the next twelve months.