And there’s more drama for the same day. Trading for this evening was briefly interrupted as the White House considers an executive order for the utilization of DS excavations.
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TMC’s stock has performed quite well amidst volatility. Let’s see what the market says about this on Monday…
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TMC USA Submits Application for Commercial Recovery of Deep-Sea Minerals in the High Seas Under U.S. Seabed Mining Code
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This is an absolutely massive nodule jackpot. They completely bypass the ISA. The resource tons also caught my eye in the article. If one quickly calculates
- nickel 15k USD/t → resource estimate 15mt → 225,000,000,000 USD
- copper 9k USD/t → resource estimate 12mt → 126,000,000,000 USD
- cobalt, 33k USD/t → resource estimate 2mt → 66,000,000,000 USD
- manganese 30 USD/t → resource estimate 345mt → 10,350,000,000 USD
disclaimer: ton prices from the first Google search
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US Researchers Tell Yle: The US is Severely Lagging in Its Own Mining Industry
Natural resource researchers consider the USA’s raw material problems very serious. The country has critical minerals, but no longer has the ability or time to mine them from its own soil.
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More news for today from TMC: Yahoo ist Teil der Yahoo-Markenfamilie.. 37 mUSD was granted both directly in shares and with 4.5USD strike warrants.
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A really good, almost hour-long video from independent journalist Johnny Harris. Quite critical of DSM, but listens to both sides. TMC’s nodule Jesus was also interviewed. At least to my ear, there were no factual errors, even though the video’s production time is long and, as mentioned in the video, Trump’s latest actions caused quick new updates to the script.
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https://x.com/gtbgtb/status/1928051488502522167?t=CmL_nj6kTNDd3cTkWCQm9g&s=19
NOAA gives a thumbs up to TMC
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TMC and Korea Zinc into strategic cooperation, with Korea Zinc acquiring approximately a 5% stake in TMC. The deal includes both shares at $4.34 USD and warrants with a $7.0 USD strike price and a 3-year lifespan. Total value $85.2 million USD.
To my knowledge, this is the second significant strategic partnership in addition to Allsea.
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Instead of TMC, this time the news is about GEM, the Norwegian startup familiar from the beginning of this message, which is aiming for copper-rich sediments on the seabed. I had to rub my eyes a couple of times, wondering what the hell, could this be true, and what mind-expanding substances the management board has been smoking.
I also quickly checked what the Nordnet Shareville forum thought about the topic. They were quite surprised there too. For me, this reminds me of some Microstrategy and their BTC buy&hold strategy.
These announcements from companies adopting a “crypto treasury strategy” have been popping up like mushrooms after rain recently. They seem to be companies whose actual business is going in a bad direction…
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GEM is already very speculative in its own operations. There are many “ifs” even before production starts. Permitting first. There will be no update on that before the Norwegian elections, which are this autumn. And even after the elections, it’s expected that it will take time before permitting progresses, if it progresses at all. At least the market was grateful; at the time of writing today, a humble +100% daily reward was available. Relying on such crypto-based alternative financing for an already speculative and uncertain case does not make valuing the company any easier in any way. It just creates a new abstract and uncertain layer of complexity to haunt it.
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Quite interesting stuff. I’m not familiar enough with it to say how accurate it is. Came across it, so linking it here.
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Japan will start trial extraction of deep-sea minerals from a depth of 5500 meters in January.
Source: Japan plans 'world first' deep-sea mineral extraction - Japan Today
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TMC Releases Two Economic Studies with Combined NPV of $23.6B and Declares World-First Nodule Reserves
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This benefits TMC:
China is restricting the export of critical minerals to Western defense manufacturers, causing production delays and forcing companies to seek alternative sources. The problem broadly affects defense products, from bullets to fighter jets.
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Yesterday, Yle had a story on the topic, mainly a general description as well as legislative and nature conservation perspectives. Merten pohjassa on satojentuhansien miljardien aarre – nyt väitellään siitä, saako Trump napata sen Yhdysvalloille | Ulkomaat | Yle
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Today, Yle’s half-past-nine news also seemed to have a story about deep-sea minerals. In my opinion, the production of the story was quite weak, both technically and in terms of factual errors, even just listening with half an ear. The main argumentation of the news was quite neutral, highlighting in parts the US and Trump’s desire to override UN agreements. The story mentioned (if I heard correctly) that 38 countries, including Finland, have ratified the ISA agreement on seabed resources. The US was, of course, highlighted as opposing this. China, Japan, or other DSM (Deep Sea Mining) actors were not mentioned. The story interviewed two Finnish experts. The latter mentioned the environmental aspects that have also been discussed on this forum. An example was the function of surface area between terrestrial mining and nodule collection. As stated, there is a big difference between digging downwards versus just going on the surface, in terms of how much this operation taxes the environment. However, it was forgotten to mention that at depths of 5-6km, the biomass per m2 is in grams. Usually, a figure of 5-10g/m2 is referred to. The same value in a rainforest is 20-50kg/m2. And this is a comparison only based on biomass. However, there are dozens of these metrics, which proves the matter is very complex. Another thing that the reporting did not bring up at all is ISA’s failure to implement its own regulatory process by failing to produce an affirmative or negative answer within the 2-year deadline to TMC (or other operators). The story did mention that ISA’s previous meeting was in a very contradictory mood.
There were also outright factual errors. It really grated on my ears when the story claimed that TMC is longing for an exploration license, wanting to carry out pre-production and research. This is simply false. TMC has already carried out its pre-production tests in the past 12 months, which has also been discussed in this thread.
I also referred to the production of the story. Usually, Yle’s production animations are high quality. In this case, the animation during the story and especially the sound engineering made me want to tear my ears off. Absolutely terrible voice acting performance in terms of both tone and pacing. Idk if it’s just me, but I certainly don’t give points for this.
Oh, after the PFS (Pre-Feasibility Study), TMC’s stock price has taken quite a hit. From what I’ve read of hive-mind opinions on the internet, the planned start of production in H1 2027, in particular, was not well-received. Instead, the raw numbers were, in my opinion, very promising. But this stock fluctuation is business as usual for such a low market cap “hand-waving” company.
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