Trilogy Metals Inc. (TSX, NYSE American: TMQ) (“Trilogy”, “Trilogy Metals” or “the Company”) is pleased to report its third quarter results for the period ended August 31, 2017.
As quoted in the press release:
Third Quarter 2017 Highlights:
Strong working capital position of $11.2 million, with cash on hand of $10.2 million.
The focus of this third fiscal quarter has been working to advance our Upper Kobuk Mineral Projects. With a combined 2017 budget of $17.1 million for the Bornite and Arctic Projects, this quarter was busy at our project sites in northwest Alaska.
Financial partnership announced with South32 Limited in Q2 2017 granting an option to form a 50/50 joint venture for a minimum investment of $150 million, subject to certain adjustments. South32 is required to fund a minimum of $10 million per year, for up to three years to keep the option in good standing.