TMC the metals company Inc. (NASDAQ:TMC) Q2 2024 Earnings Call August 14, 2024 4:30 PM ET

Company Participants

Craig Shesky - Chief Financial Officer
Gerard Barron - Chairman and Chief Executive Officer

Operator

Good day and thank you for standing by. Welcome to the metals company Second Quarter 2024 Corporate Update Conference Call. [Operator Instructions] Please be advised that today’s conference is being recorded. I would now like to hand the conference over to your first speaker today, Craig Shesky, CFO. Please go ahead.

Craig Shesky

Thank you. Please note that during this call, certain statements made by the company 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 maybe 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 statements. 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 can also follow along with our slide deck or, if joining us by phone, you can access it at any time at investors.metals.co.

I will now turn the conference 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 our second quarter conference call. During this call, we’re going to spend time setting the record straight on some exaggerated claims picked up by media on the topic of so-called dark oxygen. It’s funny that studies like this similar to the nonevent of alpha radiation in 2023 are usually coordinated to come out around ISA meetings. We believe this is another example of activism disguised as science. Rest assured that we have the data to counter on this topic, and we look forward to filing our rebuttal soon. And we’re pleased to see that other scientists have really begun doing the same.

We’ll also spend some time discussing the progress achieved and the progress they had from the ISA Council on the mining code, and what the draft review process looks like when TMC expects to launch its application for an exploitation contract prior to the next ISA meeting in March. But I’d like to start with our improved liquidity position.