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Trilogy Metals Reports Third Quarter Fiscal 2025 Financial Results
Trilogy Metals Trilogy Metals (US:TMQ) Prnewswireยท2025-09-30 21:44

Core Viewpoint - Trilogy Metals Inc. reported its financial results for the third quarter ended August 31, 2025, highlighting a net loss of $1.7 million, an increase from the $1.6 million loss in the same quarter of 2024, primarily due to increased site activities related to its joint venture with South32 [1][3][4]. Financial Performance - For the three-month period ended August 31, 2025, the company incurred a comprehensive loss of $1.7 million compared to a loss of $1.6 million in the same period of 2024 [3]. - For the nine-month period ended August 31, 2025, the net loss was $7.5 million, up from $7.0 million in the same period of 2024, driven by higher regulatory expenses and legal fees [4]. - General and administrative expenses decreased from $293,000 in Q3 2024 to $214,000 in Q3 2025, while professional fees increased significantly from $138,000 to $246,000 in the same period [3]. Project Update - Ambler Metals completed a summer maintenance field program at the Bornite camp site, including an environmental baseline program to support mine permitting applications [5]. - The cash position of Ambler Metals at the end of the third fiscal quarter was approximately $3.7 million, with expenditures tracking close to the budget of $4.5 million for the year [5]. Liquidity and Capital Resources - As of August 31, 2025, the company had cash and cash equivalents of $23.4 million, sufficient to fund its initial fiscal 2025 budget of $3.1 million [8]. - The company has an effective base shelf prospectus allowing for the future issuance of up to $50 million in securities and an ATM Program for selling common shares up to $25 million [9]. Future Outlook - The company believes its current cash position is adequate to meet working capital requirements for the next 12 months, but future cash needs may vary significantly [10].