Prediction: TMC The Metals Company Will Soar Over the Next Year -- 2 Key Catalysts to Watch
The Metals Company may have found a workaround regarding international rules regarding mining on the sea floor.
Prediction: TMC The Metals Company Will Soar Over the Next Year -- 2 Key Catalysts to Watch
Overview
TMC The Metals Company (NASDAQ: TMC) is a Vancouver-based deep-sea minerals exploration company that collects and processes small nodules found on the seafloor. They contain nickel, cobalt, copper, and manganese -- metals essential for electric vehicle (EV) batteries, energy storage, and the global transition to clean energy.
The mining stock is up more than 23% so far this year. The company said its U.S. subsidiary, The Metals Royalty Company (NASDAQ: TMCR), which began public trading in April and whose shares are up 80%, will apply for a U.S. mining permit to harvest rare metals at the bottom of the Pacific Ocean in the Clarion-Clipperton zone. The company received certification from the National Oceanic and Atmospheric Administration (NOAA) for its exploration license application on May 28.
Details
The stock remains a speculative bet because it has no revenue. In the first quarter, it reported a net loss of $20.6 million and cash of $119 million. Also, getting approval for the license application means jumping through a series of regulatory hurdles. However, there are two major catalysts that may drive the stock this year.
Source
Originally published at www.fool.com.
