A Yahoo Finance analysis article points out that The Metals Company (TMC) possesses approximately 1.6 billion tons of polymetallic nodule resources on the Pacific seabed, valued at $23.6 billion, containing key electric vehicle metals such as nickel, copper, cobalt, and manganese. However, the company faces significant regulatory and execution risks, including a regulatory path that bypasses the International Seabed Authority to seek approval from the U.S. National Oceanic and Atmospheric Administration (NOAA), which could lead to international recognition issues and legal challenges. Furthermore, TMC currently has no revenue, consumed $20.1 million in cash in the second quarter, and has only $143 million in cash remaining. Production is not expected to begin until 2027 at the earliest, and significant future financing will be required to support operations and facility construction.