Trilogy Metals Inc - TMQ STOCK NEWS

Trilogy Metals (TMQ) reported its Q2 2021 results, showcasing a working capital of $8.1 million and cash of $8.4 million. The Ambler Access Project budget for the 2021 field season, totaling $13 million, was approved, split equally between AIDEA and Ambler Metals LLC. The company's exploration initiatives at the Upper Kobuk Mineral Projects have commenced, supported by a $27 million budget. However, the firm recorded a net loss of $3.4 million in Q2, with a six-month loss reaching $7.9 million, down from a profit of $168 million in the previous year.

Trilogy Metals (TMQ) reported positive outcomes from its Annual Meeting of Shareholders held on May 19, 2021. A total of 82.77% of issued shares were represented. All proposals were approved, including the election of directors. Notable voting results include Tony Giardini receiving 99.85% support. The appointment of auditors also gained 99.31% approval. Proposals related to equity plans showed significant backing, though with 16.71% against for unallocated entitlements and 16.63% against for the Ambler Metals Equity Plan. Detailed results are available on SEDAR and EDGAR.

Trilogy Metals Inc. (TMQ) has finalized a US$27 million exploration program for 2021 at the Upper Kobuk Mineral Projects in Northwestern Alaska, funded entirely by its joint venture, Ambler Metals. The program aims for approximately 14,600 meters of drilling, with priority given to the Arctic Project and adjacent targets. The exploration efforts highlight the potential for significant resource advancements within the Ambler Mining District. The company expects to commence drilling by early June, with initial assay results anticipated in the fall, accentuating the program's historical significance.

Trilogy Metals (TMQ) has amended its Ambler Metals Equity Plan, reducing the maximum number of common shares available from 3.5 million to 1.5 million. This decision follows discussions with shareholders, with management asserting it's in their best interest. The equity plan aims to fund executive compensation and long-term incentives for officers of Ambler Metals. The amended plan represents approximately 1.0% of total outstanding shares as of March 1, 2021. Shareholders are urged to vote on this proposal during the Annual General Meeting on May 19, 2021.

Trilogy Metals (TMQ) has announced that the Alaska Industrial Development and Export Authority (AIDEA) approved a budget of up to $13 million for the Ambler Access Project (AAP) for the 2021 summer field season. AIDEA and Ambler Metals LLC will share costs equally. This 211-mile industrial road aims to enhance access to the Ambler Mining District, a leading copper-zinc area. AIDEA also secured a land access agreement with Doyon, Limited to facilitate project feasibility and permitting activities.

Trilogy Metals Inc. (TMQ) reported a comprehensive loss of $4.5 million for Q1 2021, a stark contrast to the net earnings of $171 million in Q1 2020. The current cash position stands at $9.6 million, down $1.5 million from the last quarter. The company has approved a 2021 operating budget of $27 million, fully funded by Ambler Metals LLC for project advancement. The Ambler Access Project secured a 50-year right-of-way on federal lands, essential for future development.

Trilogy Metals Inc. (TSX: TMQ) announced its 2021 Annual General Meeting (AGM) scheduled for May 19, 2021, at 10:00 AM PT in Vancouver, British Columbia. Shareholders as of March 23, 2021, will be eligible to vote. All current directors are up for re-election, and the 2021 Management Information Circular is now available. The company will not present updates during the AGM, but shareholders are encouraged to read the proxy statement carefully. Trilogy is monitoring COVID-19 and may adjust the AGM logistics as needed.

Trilogy Metals (TMQ) reported strong financial results for the year ending November 30, 2020, achieving net earnings of $161.8 million, or $1.14 per share, compared to a net loss of $27.9 million in 2019. The company maintains a robust cash position of $11.1 million. Key developments include the final federal permits for the Ambler Mining District Industrial Access Project and the completion of a feasibility study for the Arctic Project, showing a pre-tax NPV of $2.4 billion and an IRR of 40.1% at current spot metal prices. The 2021 budget of $27 million is fully funded for project advancement.

Trilogy Metals Inc. (TMQ) has approved the Ambler Access Development Agreement with the Alaska Industrial Development and Export Authority (AIDEA). This project aims for pre-development work on the Ambler Access Project, with each party contributing up to $35 million until December 2024. AIDEA and Ambler Metals will collaborate on funding and oversight, based on an agreed budget. Additionally, AIDEA has secured Right-of-Ways with federal agencies for future development. This agreement signals a step forward in the construction of a significant access road that promises to benefit the economy of Alaska.