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Water Tower Research

Water Tower Research is a leading equity research firm that provides research on micro, small and mid cap companies.

Water Tower Research was founded by Wall Street veterans after witnessing a fundamental shift in the investment research industry with the result being a declining knowledge base among investors, a lack of awareness and a shrinking pool of fundamental research being conducted on companies across the small-cap and micro-cap spectrum. The same issues are now increasingly occurring in the mid-cap space. This sea change within the investment community is impacting not only the companies themselves but also current shareholders and potential investors. With significantly less active sell-side sponsorship by Wall Street, a substantial information gap has developed between companies and various constituents in the financial community. The net result is fewer channels for insight and information to flow between companies and investors.

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<ul><li>2Q25 results. TMC reported its 2Q25 financials, that included slightly higher operating loss of $22M vs. $20.3M in year-ago period, as lower exploration and development activities were offset by higher consulting costs and increased share-based compensation.</li><li>Cash on hand of $115.8M was up sharply vs. $3.5M in 2Q24 reflecting strategic investment by Korea Zinc.</li><li>Solid cash position. Pro forma cash position of $120.7M includes $8.8M in proceeds from May RDO and exercised warrants and a repayment of $3.8M credit facility that took place in early July, 2025.</li></ul>

2Q25 results. TMC reported its 2Q25 financials, that included slightly higher operating loss of $22M vs. $20.3M in year-ago period, as lower exploration and development activities were offset by higher consulting costs and increased share-based compensation.Cash on hand of $115.8M was up sharply vs. $3.5M in 2Q24 reflecting strategic investment by Korea Zinc.Solid cash position. Pro forma cash position of $120.7M includes $8.8M in proceeds from May RDO and exercised warrants and a repayment of $3.8M credit facility that took place in early July, 2025.

TMC - Progress Toward Commercial License Continues with 4Q27 Production Goal in Sight

TMC the metals co

TMC - Progress Toward Commercial License Continues with 4Q27 Production Goal in Sight