r/stocks Mar 19, 02:25 PM
Why The Mining Company is a scam TMC is a meme stock (we're going to mars!) fanboys wetdream but here's the reality...
what's going to happen next: tomorrow TMC is going to put out a bogus pumping article on the old news NOAA permit or the scam of the TMCR "spin-off" royalty stock IPO(ing) next week. (they already got fined by the SEC for illegally pumping this in 2024 and had to re-audit financial statement). But what they are really afraid of is the ISA ruling that is happening by tomorrow.
BEST CASE SCENARIO: ISA punts on the ruling until they re-convene in july. But TMC's permit ends in july, trump's paper tiger give me all the world whining means nothing against the ISA. NOAA can give all the us permits they want, but this means NOTHING in international waters. Without the ISA permit, TMC is quite literally dead in the water.
WORST CASE SCEANRIO: ISA rules tomorrow that TMC violated international law by going behind their back and applying for the same permit (using ISA data) to the US. This is what they are currently investigating. If they find this, and vote, then they will revoke TMC's permit immediately! meaning the earliest they will be able to starting mining is 2028, and that's only if they are on ISA's good side, which they are not...
submitted by /u/Rouilly
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