TMC the metals company: Bigger Permit Area Justified a Re-Rate — A Mid-Term Trade Idea
TMC’s consolidated NOAA application expanding its applied-for commercial recovery zone from ~25,000 km2 to ~65,000 km2 materially increases the resource optionality investors can value today. At a $6.39 stock price and ~$2.64B market cap, the market has priced in progress but not full permit upside nor continuing operational execution risk. This tr…