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Trilogy Metals Inc. (TSX, NYSE-MKT: TMQ) (“Trilogy Metals” or “the Company”) is pleased to report its second quarter results for the period ended May 31, 2017. As quoted in the press release: Second Quarter 2017 Highlights: Strong working capital position of $20.1 million, with cash on hand of $14.5 million. Financial partnership announced with South32 …
Trilogy Metals Inc. (TSX, NYSE-MKT: TMQ) (“Trilogy Metals” or “the Company”) is pleased to report its second quarter results for the period ended May 31, 2017.
As quoted in the press release:
Second Quarter 2017 Highlights:
Strong working capital position of $20.1 million, with cash on hand of $14.5 million.
Financial partnership announced with South32 Limited for an option to form a 50/50 joint venture for a minimum investment of $150 million.
South32 is required to fund a minimum of $10 million per year, for up to three years to keep the option in good standing.
First $10 million has been advanced to the Company and will be spent on 12,000-meter exploration drill program at the Bornite deposit, which program is underway.
Engaged independent contractors for the pre-feasibility study (“PFS”) on the high-grade polymetallic volcanogenic massive sulphide (“VMS”) Arctic deposit.
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