TMC gains on revised sponsorship agreement with Tonga

Shares of deep-sea mining company TMC The Metals Company TMC.O rise 9.2% to $6.40 premarket

Company's subsidiary, Tonga Offshore Mining Limited (TOML) and The Kingdom of Tong, signs revised sponsorship agreement, updating terms of their agreement signed in 2021

Tonga to receive benefits from any future development of seafloor mineral resources by TOML or another TMC subsidiary

"It marks an important step toward ensuring that seabed minerals activities contribute meaningfully to Tonga's long-term development goals," says Dr. 'Uhila Moe Langi Fasi, Tonga's Minister for Lands, Survey, Planning and Natural Resources

Up till last close, stock up 424% YTD