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Jun 30, 2024
Tmc Q2 2024 Earnings Report
The Metals Company reported financial results for the second quarter ending June 30, 2024.
Key Takeaways
The Metals Company reported a net loss of $20.2 million, or $0.06 per share, for the second quarter ended June 30, 2024. The company held cash of approximately $0.5 million and short-term debt of $5.9 million as of June 30, 2024.
The company held cash of approximately $0.5 million and short-term debt of $5.9 million as of June 30, 2024.
Net loss was $20.2 million, or $0.06 per share for the quarter ended June 30, 2024.
Exploration and evaluation expenses were $12.4 million during the quarter ended June 30, 2024.
General and administrative expenses were $7.9 million for the quarter ended June 30, 2024.
Tmc
Tmc
Forward Guidance
The company believes that its total liquidity including cash and borrowing availability under a credit facility with an affiliate of Allseas, and its credit facility with ERAS Capital LLC and Mr. Barron, will be sufficient to meet our working capital and capital expenditure commitments for at least the next twelve months from today.