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Saturday, May 28, 2022

TMC the metals company Inc. (TMC) Stock Surged 33.33% Pre-Market, Here’s Why

TMC the metals company Inc. (TMC) stock soared 33.33% in the pre-market trading session at the price of $2.20 despite no fundamental development.

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TMC explores metals from poly-metallic nodules in the seafloor to produce lower-impact batteries. It supports the circular metal economy by accelerating the clean energy transition with the least adverse environmental impact.

TMC Strengthened Mineral Supply Chains

On 28th February 2022, TMC praised the growing acknowledgment of political leaders for its seafloor poly-metallic nodules to strengthen mineral supply chains for the energy transition.

In a letter to Defense Secretary, former Director of National Intelligence, Dennis Blair remarked that the national goal of supplying adequate minerals to create future aerospace, EVs, and defense systems must include a secure and vigorous supply chain across U.S. control.

In a letter, Senator Murkowski added that in addition to working on traditional mining techniques, he has also strived to the federal government for direct funding to assess seafloor minerals. It is a potential tool to improve the sustainability and security of the supply chain across the United States. The polymetallic nodules in the Clarion Clipperton Region of the Pacific Ocean can provide sufficient nickel, cobalt, manganese, and copper to electrify the planet’s electric vehicle fleet.

TMC Appointed Kathleen McAllister

Earlier on 10th February 2022, TMC announced the appointment of Kathleen McAllister to its board as an Independent Director. Miss Kathleen will join the company as a director on 1st April 2022 and will be serving as a Chair of the Audit Committee. She will ensure quality economic accounting, strict internal controls, and corporate reporting. Most recently, Kathleen has worked for Black Hills Corporation and Höegh LNG Partners LP as an independent director.

Management Comments

CEO of TMC added that Kathleen had comprehensive experience at capital-intensive, global firms across the energy supply chain. They are delighted to welcome her as a new member of the board. They look onwards to working with her for the core mission of clean energy transition.

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