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The Metals Royalty Company Inc. (TMCR) commenced trading on the Nasdaq Capital Market on April 8, 2026, following the effectiveness of its registration statement with the U.S. Securities and Exchange Commission.
The company operates as a financing platform focused on acquiring critical metals and mineral royalties, streams and similar interests across the United States. TMCR’s business model centers on participating in long-term cash flows from critical metals and mineral assets while maintaining reduced exposure to operational and development risks.
The company’s portfolio consists of a single asset: a 2.0% gross overriding royalty on the NORI polymetallic nodule deposit in the Clarion-Clipperton Zone, which is controlled by TMC the metals company Inc. (TMC). The NORI deposit contains nickel, copper, cobalt and manganese resources.
TMCR conducted a direct listing without issuing new shares or conducting an underwritten offering. Stifel served as the company’s financial advisor for the listing process.
The company stated its intention to deploy capital across the critical minerals development spectrum, from early exploration through production and mine expansion, with a focus on supporting mineral security and domestic industry growth in North America.
According to the company’s filing, TMCR’s sole royalty is subject to buy-back rights that could affect future revenues. The company also noted its dependence on favorable government policy for offshore mineral development and acknowledged risks associated with its limited operating history.