{
  "docId": "019dd923-622c-750b-8b99-f84588816d7d",
  "docSlug": "6b24b447d2c2",
  "documentTitle": "TMC the metals company Inc. (TMC)",
  "authorId": "56_Bonitas_Research",
  "authorName": "Bonitas Research",
  "documentKindSlug": "research-note",
  "documentKindLabel": "Research note",
  "sourceTypeSlug": "short_seller",
  "sourceTypeLabel": "Short seller",
  "presentationDate": "2021-10-06 00:00:00",
  "orientation": "portrait",
  "aspectRatio": 0.77272725,
  "pageNumber": 13,
  "pageCount": 15,
  "prevPage": 12,
  "nextPage": 14,
  "slideType": "expose_contradiction",
  "function": "expose_contradiction",
  "density": "dense",
  "nDataPoints": 12,
  "notes": "Includes a red-boxed callout highlighting allegations of systematic attacks on financials by major shareholders.",
  "elementsJson": [
    "data_table",
    "screenshot",
    "paragraph",
    "callout_box"
  ],
  "metadataConfidence": 0.95,
  "imagePath": null,
  "slideHref": "/slides/019dd923-622c-750b-8b99-f84588816d7d/13",
  "deckHref": "/decks/019dd923-622c-750b-8b99-f84588816d7d",
  "deckJsonHref": "/decks/019dd923-622c-750b-8b99-f84588816d7d.json",
  "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-f84588816d7d#slide-13",
  "components": [
    {
      "bbox": {
        "h": 0.08,
        "w": 0.7,
        "x": 0.15,
        "y": 0.69
      },
      "kind": "callout",
      "text": "Over the past several years we have noticed the systematic attack on the company's underlying financials and it's corporate officer structure by its two largest shareholders...",
      "attrs": null,
      "subkind": "primary",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "3cda0045-5b20-4d77-bdc9-574571725689",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.03,
        "w": 0.78,
        "x": 0.11,
        "y": 0.3
      },
      "kind": "paragraph",
      "text": "Other minority shareholders felt screwed over at the process and a letter was written to the Court to petition for an alternative sanction order outcome.",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "0fc862e6-04db-45cf-adc9-7def160de715",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.04,
        "w": 0.78,
        "x": 0.11,
        "y": 0.25
      },
      "kind": "paragraph",
      "text": "The settlement was contested by Eda Kopa (Solwara) Limited, NMI's joint venture partner owned by the Independent State of Papua New Guinea government that led to a US$ 120 million loss for the country.",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "139a93f8-d821-4d32-a57f-c12d2871f977",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.04,
        "w": 0.78,
        "x": 0.11,
        "y": 0.85
      },
      "kind": "paragraph",
      "text": "Canadian Court records revealed that the contact persons for DSMF were Chris Jordinson, an Australian Citizen guilty of insider trading, and Matthhais Bolliger who has connections to known money laundering conspirators...",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "28273290-bbd9-4f62-8789-c85c101f1f1b",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.03,
        "w": 0.78,
        "x": 0.11,
        "y": 0.81
      },
      "kind": "paragraph",
      "text": "Unfortunately, NMI's assets were shopped around and no one thought the assets were worth the DSMF secured credit price tag of US$ 23 million. Affected creditors received 10 cents on the dollar.",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "7f039227-1985-4b92-947b-3a887570bf9a",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.25,
        "w": 0.78,
        "x": 0.11,
        "y": 0.33
      },
      "kind": "paragraph",
      "text": "To: Mr. Justice David M. Masuhara... [Court letter header]",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "d175a5fd-e1cf-4e1d-889c-d7cd5e613c93",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.12,
        "w": 0.68,
        "x": 0.16,
        "y": 0.09
      },
      "kind": "table",
      "text": "Source of funds vs Use of funds table",
      "attrs": null,
      "subkind": "data",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "c5f1e6aa-797c-4e2f-9f5e-6e46a5a3513d",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [],
  "frameworks": [],
  "arcBeats": [
    {
      "to": 14,
      "from": 13,
      "beatId": "d026aa31-62b0-49b4-9a51-0ce616d2e52d",
      "arcName": "Overcoming the Monster",
      "arcSlug": "overcoming-monster",
      "beatName": "The Struggle",
      "beatSlug": "overcoming-monster-the-struggle",
      "evidence": "History of bad actors and ownership claims are questioned",
      "position": 1,
      "confidence": 0.8,
      "parentBeatName": "Development",
      "parentBeatSlug": "development"
    }
  ],
  "loops": [],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}