Added to YB: 2025-06-27
Pitch date: 2025-06-25
TMC [bearish]
TMC the metals company Inc.
+15.68%
current return
Author Info
Iceberg Research identifies substantial earnings misrepresentation and accounting irregularities in financial statements issued by public companies. Sign up for the newsletter.
Company Info
TMC the metals company Inc., a deep-sea minerals exploration company, focuses on the collection, processing, and refining of polymetallic nodules found on the seafloor in California.
Market Cap
$2.0B
Pitch Price
$7.88
Price Target
N/A
Dividend
N/A
EV/EBITDA
-24.42
P/E
-12.79
EV/Sales
N/A
Sector
Metals and Mining
Category
special_situation
Op-ed: The international legal risks of TMC’s new America Alone approach
TMC (short): Abandoned lawful ISA mining path for risky US unilateral DSHMRA approach. Major legal hurdles: 1) No international security of tenure 2) Violates US intl law obligations 3) Foreign partners (Allseas, PAMCO, Korea Zinc) face UNCLOS violations 4) Can't sell to 169 UNCLOS nations (90% of global market) 5) Subject to intl dispute settlement.
Read full article (7 min)