Trilogy Metals Reports First Quarter Fiscal 2018 Financial Results

- April 5th, 2018

Trilogy Metals Inc. (TSX / NYSE American: TMQ) (“Trilogy”, “Trilogy Metals” or “the Company”) is pleased to report its first quarter results for the period ended February 28, 2018. As quoted in the press release: First Quarter 2018 Highlights: Strong working capital position of $12.6 million, with cash on hand of $12.1 million. Announced final drill results for the … Continued

Trilogy Metals Inc. (TSX / NYSE American: TMQ) (“Trilogy”, “Trilogy Metals” or “the Company”) is pleased to report its first quarter results for the period ended February 28, 2018.

As quoted in the press release:

First Quarter 2018 Highlights:

  • Strong working capital position of $12.6 million, with cash on hand of $12.1 million.

  • Announced final drill results for the 2017 Bornite Project drill program and the results of a metallurgical test work program demonstrating that a high quality, 30% copper concentrate containing no deleterious metals can be produced from the currently defined in-pit resources at the Bornite Project.

  • Announced $10 million program and budget for the Bornite Project in 2018 which has been fully funded by South32 Limited (“South32”).

  • Announced additional in-fill drill results for the 2017 Arctic Project drill program and the results of the Arctic Project Pre-Feasibility Study (“Arctic PFS”) showing strong economics.

  • Announced a wholly-owned subsidiary of South32 had become a new large shareholder of the Company and concurrently, Trilogy had given South32 participation rights in future financings to participate to a minimum of 20% to a maximum of 40% in future financings, private or public, to a maximum ownership of 19.9% in the Company.  The right expires if South32 does not participate for the lesser of 20%, or that number of shares that would not put them past a 19.9% ownership interest in the Company, in any particular financing.

Click here for the full text release

 

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