The company reported a strong cash position of US$30.5 million and working capital of US$27.2 million.
Trilogy Metals (TSX,NYSE American:TMQ)has reported its third quarter results for the period ended August 31, 2018.
As highlighted in the press release:
- Strong cash position of US$30.5 million and working capital of US$27.2 million.
- On June 5, 2018 the company announced a maiden cobalt resource of 182.4 million tonnes grading 0.019 percent cobalt for 77 million pounds of inferred resources.
- On July 20, 2018 the company announced the filing of an updated technical report for the Bornite project incorporating the cobalt resource and updates from the 2017 drill program at the Bornite project.
- On August 23, 2018 the Company announced an expansion of the Bornite drilling program, with its partner, South32 (ASX,LSE,JSE:S32), funding an additional US$800,000 for the company to add two drill rigs, which have subsequently completely four holes totaling approximately 2,170 meters.