Trilogy Metals (US:TMQ) Prnewswireยท2025-04-02 10:30Financial Results - For the first quarter ended February 28, 2025, the company reported a comprehensive loss of $3.6 million, consistent with the loss of $3.6 million for the same period in 2024 [3] - Total expenses for the quarter were $3.2 million, an increase from $2.8 million in the previous year, primarily due to higher professional fees [3] - Basic and diluted loss per common share remained at $(0.02) for both periods [3] Corporate and Project Activities - The company announced positive results from the Preliminary Economic Assessment (PEA) for the Bornite copper project, indicating a potential underground mining operation with a capacity of 6,000 tonnes per day and a mine life of 17 years [4] - The Bornite PEA estimates a pre-tax net present value (NPV) of $552 million and an internal rate of return (IRR) of 23.6% [5] - The company has a fiscal year 2025 cash budget of $3.1 million, with $0.8 million used in operating activities during the first quarter [5][6] Ambler Metals LLC - Ambler Metals LLC has a 2025 fiscal year budget of $5.8 million, with expenditures of $1.2 million in the first quarter for various operational costs [7] - The company is involved in the Ambler Mining District, which is known for its rich copper deposits and is supported by a joint venture with South32 [16] Regulatory Developments - Recent executive orders signed by President Trump aim to expedite resource development in Alaska, including the reinstatement of permits for the Ambler Road project [8][9] - The Department of Interior has initiated actions to facilitate the permitting process for mineral production projects, which is expected to benefit the Ambler Road project [10][11] Liquidity and Capital Resources - As of February 28, 2025, the company had $25.2 million in cash and cash equivalents, sufficient to fund its approved budget for the fiscal year [13] - Ambler Metals had $6.5 million in cash and equivalents, adequate to support its budget of $5.8 million for the year [14]