雅虎香港財經 TMC the metals company Inc. (NASDAQ:TMC) Q4 2023 Earnings Call Transcript
TMC the metals company Inc. (NASDAQ:TMC) Q4 2023 Earnings Call Transcript March 25, 2024
TMC the metals company Inc. misses on earnings expectations. Reported EPS is $-0.17 EPS, expectations were $-0.16. TMC the metals company Inc. isn’t one of the 30 most popular stocks among hedge funds at the end of the third quarter (see the details here).
Operator: Good afternoon, everyone, and thank you for participating in the metals company Fourth Quarter and Full Year 2023 Corporate Update Conference Call. Joining us today are the metals company's Chairman and Chief Executive Officer, Gerard Barron, and Chief Financial Officer, Craig Shesky. Following their remarks, we will open the call for your questions. Before we go further, I would like to turn the call over to CFO, Craig Shesky as he reads the Company's safe harbor statement within the meaning of the Private Securities Litigation Reform Act of 1995 that provides important cautions regarding forward-looking statements and information about the use of non-GAAP measures. Craig, please go ahead.
Craig Shesky: Thank you very much. Please note that during the call, certain statements may be made which will be forward-looking and based on management's beliefs and assumptions from information available at this time. These statements are subject to known and unknown risks and uncertainties, many of which may be beyond our control. Additionally, please note that the Company's actual results may differ materially from those anticipated, and except as required by law, we undertake no obligation to update any forward-looking statement. Our remarks today may also include non-GAAP financial measures, including with respect to free cash flows, and additional details regarding these non-GAAP financial measures, including reconciliations to the most directly comparable GAAP financial measures can be found in our slide deck being used with this call and you're welcome to follow along with our slide deck, or if joining by phone, you can access it any time at investors.metals.co.
I'll now turn the call over to our Chairman and CEO, Gerard Barron. Gerard, please go ahead.
Gerard Barron: Thanks, Craig, and thanks to all of you for joining us today for our fourth quarter 2023 corporate update call. Firstly, I'd like to mention the great piece that ran last night on 60 Minutes regarding seafloor nodules and the United States' position on the Law of the Sea and reflect a bit on just how far we've come. Just over four years ago, we hosted Bill Whitaker and the 60 Minutes team on board the launch of vessel to provide what was, for many people, their first glimpse of this impending new industry. In fact, some of our team members and key investors have cited that piece as what originally put nodules and our company on their radar. And I'm amazed at just how much our team has accomplished in the four years since that original piece.
In 2021, in advance of our transaction to go public, we put out two SEC-compliant resource statements and an initial assessment on the NORI-D contract area signed off by AMC consultants. NORI-D net present value at the time of $6.8 billion. In 2022 we completed the first successful integrated pilot system test in the CCZ since the 1970s lifting 3,000 wet tons of nodules and helping to derisk our future offshore operations alongside our partner Allseas in late 2021. And we completed our pyrometallurgical processing pilot, derisking our flow sheet in advance of future onshore operations. We've also now signed a binding MoU with PAMCO in Japan to initially process nodules at their existing RKEF facility, and we're also pleased to announce today that we successfully derived the first-ever nickel sulfate from seafloor nodules, but more on that in a bit.
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