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TMC the metals company (TMC) Just Soared 15.4%: Here’s What’s Next

TMC the metals company Inc. (NASDAQ:TMC) is one of the 10 Stocks With Easy 15-38% Gains.

TMC the metals company saw its share price increase by 15.42 percent on Monday to finish at $2.62 apiece, as investors began positioning their portfolios ahead of the National Oceanic and Atmospheric Administration’s (NOAA) looming decision on its permit application to mine in the international waters.

This followed the company’s regulatory filing on the same day, informing that its US subsidiary, TMC USA, received a letter from NOAA stating that it will notify the deep-sea miner by mid-December whether it will approve its application for an exploration license and a permit to commercially recover minerals from the deep seabed.

Photo by Mizuno K on Pexels

TMC the metals company Inc. submitted an application with the US agency to mine two exploration areas—the USA-A covering 65,000 square kilometers of the ocean floor and the USA-B spanning 122,000km2.

The USA-A alone contains an estimated 619 million wet tons of polymetallic nodules and holds the potential to contain over 200 million tons through further application, while the USA-B contains an estimated 1.02 billion wet tons of nodules, sparking rosy growth prospects for the company if and when approved.

TMC the metals company Inc. is targeting offshore collection system commissioning by the fourth quarter of 2027. Further guidance about the permit application is expected when it holds its third-quarter earnings call after market close on Thursday, November 12.

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