Allseas

TMC Subsidiary NORI Shares Preliminary Findings on Environmental Impacts of Pilot Nodule Collection System Test

Retrieved on: 
Jeudi, décembre 14, 2023
ROV, Science, Water, Non-governmental organization, Research, Environment, DHI, TMC, Allseas, Metal, Rare-earth element

Nauru Ocean Resources Inc. (NORI) has begun sharing emerging data on impacts of seafloor sediment plumes one year on from its 2022 test mining campaign.

Key Points: 
  • Nauru Ocean Resources Inc. (NORI) has begun sharing emerging data on impacts of seafloor sediment plumes one year on from its 2022 test mining campaign.
  • Additional qualitative data acquired this month using a Remotely Operated Vehicle (ROV) at the seafloor in the NORI-D area show that sessile organisms identified during NORI’s environmental baseline studies are still present twelve months after its pilot nodule collection system test in areas that have been influenced by the seafloor plume.
  • In the coming months, NORI will release additional data on midwater sediment plumes which will further address concerns as to the scope and scale of their distribution.
  • During its 2022 nodule collection system trials, NORI worked with DHI Water and Environment — leading experts on sedimentation modelling — to implement a plume monitoring study.

TMC and PAMCO Sign Binding MOU to Complete Feasibility Study to Process Polymetallic Nodules into Battery Metal Feedstocks

Retrieved on: 
Lundi, novembre 13, 2023
Q3, Metal, Collection, Allseas, The Metals Company, TMC, Memorandum of understanding, Hachinohe, PMN, MOU, Copper

PAMCO successfully completed a pre-feasibility exercise pursuant to a non-binding MoU signed by the parties in November 2022.

Key Points: 
  • PAMCO successfully completed a pre-feasibility exercise pursuant to a non-binding MoU signed by the parties in November 2022.
  • Under the new binding MoU:
    PAMCO, with TMC support, expects to complete the feasibility study by Q3, 2024.
  • The parties will enter into good faith negotiations to finalize definitive processing agreements on completion of the feasibility study.
  • We are excited by the prospect of being the first commercial processor of polymetallic nodules and see the opportunity to emerge as supplier of Li–ion battery metals.”

The Metals Company Provides Third Quarter 2023 Corporate Update

Retrieved on: 
Jeudi, novembre 9, 2023
Environmental issues, AMS, Attention, Digital twin, International Seabed Authority, Engineering, Kongsberg Digital, Collection, Exercise, Texas Gulf Coast, Allseas, PFS, House, Letter, Council, TMC, Project Zero, EIS, ISA, AI, VWAP, ESG, Rare-earth element, Cryptocurrency, Security (finance), Renewable energy

NEW YORK, Nov. 09, 2023 (GLOBE NEWSWIRE) -- TMC the metals company Inc. (Nasdaq: TMC) (“TMC” or “the Company”), an explorer of lower-impact battery metals from seafloor polymetallic nodules, today provided a corporate update and financial results for the third quarter ending September 30, 2023.

Key Points: 
  • NEW YORK, Nov. 09, 2023 (GLOBE NEWSWIRE) -- TMC the metals company Inc. (Nasdaq: TMC) (“TMC” or “the Company”), an explorer of lower-impact battery metals from seafloor polymetallic nodules, today provided a corporate update and financial results for the third quarter ending September 30, 2023.
  • The offshore EIS process is generating very encouraging insights based on last year's nodule collection test which are informing our designs and plans.
  • TMC reported net loss of approximately $12.5 million, or $0.04 per share for the quarter ended September 30, 2023, compared to net loss of $27.9 million, or $0.12 per share, for the quarter ended September 30, 2022.
  • ET to provide an update on recent corporate developments, third quarter 2023 financial results and upcoming milestones.

Researchers to Return to the Site of NORI’s Nodule Collection System Test to Assess Seafloor Ecosystem Function A Year After the Test

Retrieved on: 
Mercredi, novembre 8, 2023
Science, Social impact assessment, ISA, Clipperton Fracture Zone, Environmental resource management, Biota, International Seabed Authority, Research, Engineering, ESIA, Allseas, TMC, The Metals Company, Global Monitoring Plan, Specialization, Dredging, Rare-earth element

The upcoming offshore campaign is the latest in The Metals Company subsidiary NORI’s Environmental and Social Impact Assessment (ESIA) to characterise the potential impacts of proposed polymetallic nodule collection operations.

Key Points: 
  • The upcoming offshore campaign is the latest in The Metals Company subsidiary NORI’s Environmental and Social Impact Assessment (ESIA) to characterise the potential impacts of proposed polymetallic nodule collection operations.
  • Scientists from several leading marine research institutions will undertake an array of studies on the site of last year’s nodule collection system test to gather further environmental data on ecosystem recovery and functioning.
  • The Company expects to commence the campaign in Q4 2023.
  • Specialized research teams will use an array of boxcore and multi-core samplers as well as various benthic lander systems to assess impacts to biota and ecosystem function on the seafloor in NORI-D.

The Metals Company Provides Closing Update on its Registered Direct Offering at $2.00 Per Share Plus Class A Warrants

Retrieved on: 
Jeudi, octobre 19, 2023
Hand, Registered, Sale, TMC, Exercise, Allseas, ATM, Indian stock exchange, Security (finance)

Pursuant to the Registered Offering, TMC agreed to sell and issue common shares of the Company, without par value (the “Common Shares”), and accompanying Class A warrants (the “Class A Warrants”) at an exercise price per share of $3.00.

Key Points: 
  • Pursuant to the Registered Offering, TMC agreed to sell and issue common shares of the Company, without par value (the “Common Shares”), and accompanying Class A warrants (the “Class A Warrants”) at an exercise price per share of $3.00.
  • Each Common Share and the accompanying Class A Warrant to purchase 0.5 of a Common Share were sold at a price of $2.00.
  • The Registered Offering was made only by means of a written prospectus and prospectus supplement that form a part of the registration statement.
  • A prospectus supplement dated August 14, 2023 relating to and describing the terms of the offering was filed with the SEC and is available on the SEC’s website at www.sec.gov.

The Metals Company Provides Second Quarter 2023 Corporate Update and Commentary on ~$27 Million Capital Raise at $2.00 Per Share with Potential Upsizing to $38 Million

Retrieved on: 
Lundi, août 14, 2023
Exercise, OBIS, International Seabed Authority, Ocean Biodiversity Information System, Project Zero, National security, United States House Armed Services Subcommittee on Strategic Forces, NDAA, Record, Environmental policy of the Joe Biden administration, Mining Code, Assistant, The Metals Company, TMC, United States House Committee on Armed Services, Allseas, U.S. Department of Defense Strategy for Operating in Cyberspace, Mining, Engineering, Motivation, Corporation, ISA, Part Two, Carl Levin and Howard P. "Buck" McKeon National Defense Authorization Act for Fiscal Year 2015, Policy, Letter, The Hidden Gem, House, PMTS, Presidency of Joe Biden, Cryptocurrency, Management, Security (finance), Defense

Chairman and CEO Gerard Barron and CFO Craig Shesky along with several TMC board members also participated in the transaction.

Key Points: 
  • Chairman and CEO Gerard Barron and CFO Craig Shesky along with several TMC board members also participated in the transaction.
  • Exploration evaluation expenses during the quarter ended June 30, 2023 were $8.1 million compared to $10.2 million for the quarter ended June 30, 2022.
  • General and administrative expenses were $5.1 million for the quarter ended June 30, 2023 compared to $8.1 million for the quarter ended June 30, 2022.
  • ET to provide an update on recent corporate developments, first quarter financial results and upcoming milestones.

TMC Announces Corporate Update on Expected Timeline, Application Costs and Production Capacity Following Part II of the 28th Session of the International Seabed Authority

Retrieved on: 
Mardi, août 1, 2023
Agreement, The Hidden Gem, LTC, Project Zero, Clipperton Fracture Zone, AMS, United Nations Convention on the Law of the Sea, United Nations Convention, Paragraph, EIS, Environmental resource management, Section 1, Water, Sanitation and Hygiene Monitoring Program, Part, International Seabed Authority, Mining Code, Radio Technical Commission for Maritime Services, Implementation, Environmental monitoring, ATM, Regeneration, TMC, Party, Data, Council, Motivation, Hand, Rare-earth element, Property management, Natural gas, Life insurance, Bank, Risk management, Security (finance), UNCLOS, Allseas

Assuming a one-year review process, NORI expects to be in production in the fourth quarter of 2025.

Key Points: 
  • Assuming a one-year review process, NORI expects to be in production in the fourth quarter of 2025.
  • The Company estimates that it will require $60 to 70 million of additional cash to submit an application for an exploitation contract following the July 2024 meeting of the ISA.
  • TMC had $20M cash on hand and an undrawn $25M unsecured credit facility as of June 30th 2023.
  • Assuming a one-year review process for an application, NORI expects to be in production in the fourth quarter of 2025.

The Metals Company Provides Q1 2023 Corporate Update

Retrieved on: 
Jeudi, mai 11, 2023
Benchmark, Argentum, Carbon, International Seabed Authority, Investment, Clipperton Fracture Zone, Science, Mining Code, UNCLOS, Area, Allseas, European, ESG, PMTS, Consultant, Social Security Government Pension Offset, Pacific Ocean, María Conchita Alonso, Data, Nickel, NG, Social, Cobalt, Disclosure, CCZ, LCR, Engineering, Biophysical environment, Condition subsequent, Bechtel, Hand, Mineral Resources Limited, Partnership, Metal, LCA, Benchmark Mineral Intelligence, SOFR, Sale, TMC, Strategic partnership, Memorandum of understanding, Copper, Rare-earth element, Cryptocurrency

NEW YORK, May 11, 2023 (GLOBE NEWSWIRE) -- TMC the metals company Inc. (Nasdaq: TMC) (“TMC” or “the Company”), an explorer of lower-impact battery metals from seafloor polymetallic nodules, today provided a corporate update and financial results for the first quarter ending March 31, 2023.

Key Points: 
  • NEW YORK, May 11, 2023 (GLOBE NEWSWIRE) -- TMC the metals company Inc. (Nasdaq: TMC) (“TMC” or “the Company”), an explorer of lower-impact battery metals from seafloor polymetallic nodules, today provided a corporate update and financial results for the first quarter ending March 31, 2023.
  • Marine minerals are emerging as a strong potential source to help meet growing metals demand.
  • General and administrative expenses were $6.2 million for the quarter ended March 31, 2023 compared to $8.5 million for the quarter ended March 31, 2022.
  • ET to provide an update on recent corporate developments, first quarter financial results and upcoming milestones.

TMC Enters into MOU with Leading Nickel Processor PAMCO to Evaluate the Processing of Polymetallic Nodules into Battery Metal Feedstocks

Retrieved on: 
Jeudi, mars 16, 2023
The Metals Company, Metal, MOU, The Hidden Gem, Nickel, Memorandum of understanding, Hachinohe, TMC, Allseas, Copper, Pacific Ocean

Under the MOU, PAMCO will undertake studies to estimate the cost of processing polymetallic nodules through existing facilities and identify any additional equipment requirements, currently expected to be minimal.

Key Points: 
  • Under the MOU, PAMCO will undertake studies to estimate the cost of processing polymetallic nodules through existing facilities and identify any additional equipment requirements, currently expected to be minimal.
  • It is anticipated that the additional facility would be constructed once commercial processing of polymetallic nodules to alloy has been demonstrated.
  • Technically, the Hachinohe plant appears well-suited to deploy the near-zero solid waste flowsheet we developed for processing nodules with little modification.
  • We are excited by the prospect of being the first commercial processor of polymetallic nodules and see the opportunity to emerge as supplier of Li–ion battery metals.”

The Metals Company Engages Bechtel to Support NORI’s Commercial Contract Application for NORI–D Nodule Project

Retrieved on: 
Jeudi, mars 9, 2023
Well, Mining, Science, Metal, Clipperton Fracture Zone, Lifting, Project, Collection, Pacific Ocean, Consultant, The Hidden Gem, Telecommunications, South Korea, Project Zero, The Metals Company, Copper, ISA, Free trade agreement, TMC, Engineering, SINTEF, Nickel, Hatch, CO2, International Seabed Authority, Korea, Rare-earth element, Allseas

Gerard Barron, Chairman and CEO of The Metals Company, said: “We are excited to have a company with the proven capabilities of Bechtel involved in our NORI-D project.

Key Points: 
  • Gerard Barron, Chairman and CEO of The Metals Company, said: “We are excited to have a company with the proven capabilities of Bechtel involved in our NORI-D project.
  • We need to act with urgency but follow the science to ensure our environmental, social and governance responsibilities are integrated into the project.
  • Last year NORI and Allseas announced they had signed a non-binding term sheet to upgrade the pilot collection system into a production-ready commercial system.
  • With their limited impurities, polymetallic nodules could significantly reduce mineral processing waste outputs and TMC has worked with metallurgy process experts Hatch to pioneer a near-zero solid waste nodule processing flowsheet to produce nickel, copper and cobalt feedstocks for battery manufacturers.