Research from Water Tower Research, Water Tower Research

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.

Research from Water Tower Research

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<ul><li>3Q23 results showcase management’s focus. TMC reported 3Q23 results that included solid cost control as G&amp;A expenses declined to $4.6 million and operating loss was reduced to $12.5 million for the quarter versus the $28.6 million loss in the year-ago period.</li><li>Liquidity to cover operating and capital costs. With $22.5 million of cash on hand as of September 2023 and with the infusion of the $25 million in equity raise (inclusive of $9 million to be received by the end of 2023), in addition to the $25 million undrawn unsecured credit facility from Allseas, TMC has the liquidity and capital tools it needs to submit the provisional application to the ISA in 2H24.</li><li>The company continues to work on securing more strategic funding to ensure sufficient liquidity to get into production once the exploitation application has been submitted.</li></ul>

3Q23 results showcase management’s focus. TMC reported 3Q23 results that included solid cost control as G&amp;A expenses declined to $4.6 million and operating loss was reduced to $12.5 million for the quarter versus the $28.6 million loss in the year-ago period.Liquidity to cover operating and capital costs. With $22.5 million of cash on hand as of September 2023 and with the infusion of the $25 million in equity raise (inclusive of $9 million to be received by the end of 2023), in addition to the $25 million undrawn unsecured credit facility from Allseas, TMC has the liquidity and capital tools it needs to submit the provisional application to the ISA in 2H24.The company continues to work on securing more strategic funding to ensure sufficient liquidity to get into production once the exploitation application has been submitted.

TMC the Metals Company, Inc. -ISA Discussions on Track and PAMCO MoU Adds a Strong Partner

TMC the metals co

TMC the Metals Company, Inc. -ISA Discussions on Track and PAMCO MoU Adds a Strong Partner