TMC Metals Corporation (NASDAQ:TMC) is a $7 stock that’s easily worth seven to eight times more than what it’s currently trading at.
The deep-sea mining company is trying to extract polymetallic modules from the seafloor.
Where should I invest $1,000 now? Our team of analysts just revealed what they think 10 Best Stocks Buy now when you join Stock Advisor. View stocks »
It holds exploration rights in the Pacific nodule-rich Clarion-Clipperton Zone (CCZ). The region may contain more nickel, cobalt and manganese than all known land-based mineral deposits in the world, according to the U.S. Geological Survey. It also contains about as much copper as is available on land.
TMC’s first target project could be worth about $24 billion, the company estimates. It’s unclear how much it will be cost TMC collects these nodules and processes them into battery-grade metal. But lifetime mine revenues from the nodules under its control are likely to be in the tens of billions of dollars, if not more.
Of course TMC cannot legally These nodule deposits have not yet been acquired. It requires regulatory approval from the UN-backed International Seabed Authority (ISA), which has yet to finalize mining specifications for nodule harvesting. A backdoor through the US government may be on the agenda, but without some kind of nod from the ISA, the TMC is unlikely to proceed.
TMC believes commercial production will begin by the end of 2027. As of the end of the third quarter, the company had approximately $116 million in cash. It consumes approximately $10 million to $11 million per quarter, with consumption likely to increase significantly as production ramps up.
Considering its current value, and the likelihood of nodules being mined in the near future, owning shares of this metal at today’s prices could be your ticket to becoming a millionaire in the future.
Before you buy shares of TMC The Metals Company, please consider the following factors:
this Motley Fool Stock Advisor The analytics team has just identified what they believe is 10 Best Stocks Investors can buy now… and TMC The Metals Company isn’t one of them. The 10 stocks selected could generate huge returns in the coming years.
consider when Netflix This list was created on December 17, 2004… If you invested $1,000 when we recommended, You will have $429,385!* or when NVIDIA This list was created on April 15, 2005… If you invested $1,000 when we recommended, You will have $1,165,045!*
Now, it’s worth noting stock advisor The overall average return is 913% — outperformed the market compared to the S&P 500’s 196%. Don’t miss the latest top 10 list, available via stock advisorand join an investment community built by individual investors for individual investors.