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Dec 31, 2022
Tmc Q4 2022 Earnings Report
TMC reported a net loss for Q4 2022 due to increased exploration and evaluation expenses, partially offset by decreased general and administrative expenses and a decrease in the value of warrants.
Key Takeaways
TMC reported a net loss of $109.6 million for the fourth quarter of 2022, with cash holdings of $46.8 million and no debt. The loss was primarily driven by increased exploration and evaluation expenses related to Allseas warrants and share issuances.
TMC held cash of $46.8 million and had no debt as of December 31, 2022.
The company reported a net loss of $109.6 million for Q4 2022, or $0.41 per share.
Exploration and evaluation expenses increased to $104.3 million due to Allseas warrants and share issuances.
A non-binding MOU was signed with PAMCO of Japan to evaluate nodule processing.
Tmc
Tmc
Forward Guidance
TMC continues to hit milestones and establish the strategic partnerships to continue delivering on our capital-light approach to developing the NORI-D Nodule Project.