Critical Mineral Stocks Garner Major Attention as Multi-Billion-Dollar Market Expansion Accelerates Worldwide

Executive Summary

• Deep Sea Minerals Corp. achieves a substantial compliance determination from NOAA under the DSHMRA, advancing its federal review process for deep seabed polymetallic nodule exploration.
• Odyssey Marine Exploration files a Form S-4 with the SEC to merge with American Ocean Minerals Corporation (AOMC), aiming to create a scaled marine critical minerals platform.
• Kraken Robotics signs an MOU with SEFINE SISAM to integrate KATFISH software and develop automatic target recognition capabilities for synthetic aperture sonar.
• Transocean Ltd. secures a $158 million five-well contract for the Deepwater Asgard in the Eastern Mediterranean, contributing to $1.6 billion in total backlog additions since April.

Key Details

• Deep Sea Minerals Corp. (CSE: SEAS / OTCQB: DSEAF):
  • Receives substantial compliance determination from NOAA under the Deep Seabed Hard Mineral Resources Act (DSHMRA).
  • Confirmation that the application contains required information to advance through the federal review process for polymetallic nodule exploration and commercial recovery.
  • The determination does not constitute final certification, license issuance, or permit approval.
  • Seabed mineral concession spans approximately 150,000 km² within the Pacific Ocean across offshore exploration blocks.
  • Positions the company as one of only three publicly traded entities to receive a NOAA substantial compliance determination under DSHMRA.
• TMC the Metals Company Inc. (NASDAQ: TMC):
  • USA B exploration license application formally certified by NOAA.
  • USA B application area covers ~122,000 km² of seafloor.
  • Hosts an estimated 1.02 billion tonnes of polymetallic nodules per the August 2025 Technical Report Summary for the Initial Assessment.
  • USA A consolidated application for exploration license and commercial recovery permit submitted Jan 22, 2026, and determined fully compliant on April 28, 2026.
• Odyssey Marine Exploration, Inc. (NASDAQ: OMEX) & American Ocean Minerals Corporation (AOMC):
  • Odyssey files a Form S-4 registration statement with the SEC for a proposed merger transaction.
  • Transaction intended to combine Odyssey’s operational experience and public-company infrastructure with AOMC’s capital resources and multi-jurisdictional marine mineral portfolio.
  • Platform will include interests in Cook Islands exclusive economic zone exploration licenses held by CIC Limited and Moana Minerals Ltd.
  • Includes U.S.-pathway application-stage project areas pursued through AOM Area-1 LLC and AOM Area-2 LLC under DSHMRA.
• Kraken Robotics Inc. (TSX-V: PNG / OTCQB: KRKNF):
  • Signed an MOU with SEFINE SISAM (Strategic Unmanned Systems Research Center) at the SAHA exposition in Türkiye.
  • Agreement to integrate KATFISH into its mission planning software.
  • Will develop automatic target recognition (ATR) capabilities for Kraken Synthetic Aperture Sonar.
• Transocean Ltd. (NYSE: RIG):
  • Deepwater Asgard awarded a five-well contract in the Eastern Mediterranean Sea with an undisclosed operator.
  • Estimated 390-day campaign expected to commence in Q4 2026.
  • Adds approximately $158 million to backlog (excluding mobilization and demobilization).
  • Total backlog additions since early April approximate $1.6 billion, including fixtures on Deepwater Barents (Norway), Deepwater Orion, Deepwater Aquila, and Deepwater Corcovado (Brazil).

Notable Quotes

• James Deckelman, CEO, Deep Sea Minerals: “This marks a significant step forward for Deep Sea Minerals and reinforces our commitment to advancing responsible, science-based development of critical mineral resources. We believe the United States is increasingly recognizing the strategic importance of secure and diversified critical mineral supply chains, and we are proud to be participating in that emerging framework.”
• Bernard Mills, Executive Vice President of Defence, Kraken Robotics: “We’re pleased to continue our work with SEFINE following a successful at-sea demonstration earlier this year. This partnership poises us to rapidly develop and deliver relevant capability in a region that combines industrial excellence and operational need. Together, we are advancing fully integrated, autonomous solutions for seabed warfare and mine countermeasures—enhancing the speed, accuracy, and efficiency of maritime security operations.”