{"id":832801,"date":"2025-04-02T06:46:38","date_gmt":"2025-04-02T10:46:38","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/trilogy-metals-reports-first-quarter-fiscal-2025-financial-results\/"},"modified":"2025-04-02T06:46:38","modified_gmt":"2025-04-02T10:46:38","slug":"trilogy-metals-reports-first-quarter-fiscal-2025-financial-results","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/trilogy-metals-reports-first-quarter-fiscal-2025-financial-results\/","title":{"rendered":"Trilogy Metals Reports First Quarter Fiscal 2025 Financial Results"},"content":{"rendered":"
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PR Newswire<\/p>\n<\/p><\/div>\n

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\n
\n VANCOUVER, BC<\/span>
\n <\/span>, April 2, 2025<\/span><\/span> \/PRNewswire\/ – Trilogy Metals Inc. <\/b>(TSX: TMQ) (NYSE American: TMQ) (“Trilogy Metals” or the “Company”) announces its financial results for the first quarter ended February 28, 2025<\/span>. Details of the Company’s financial results are contained in the interim unaudited consolidated financial statements and Management’s Discussion and Analysis which will be available on the Company’s website at www.trilogymetals.com<\/a>, on SEDAR+<\/sup> at www.sedarplus.ca<\/a> and on EDGAR at www.sec.gov<\/a>. All amounts are in United States<\/span> dollars unless otherwise stated.<\/p>\n

\n Selected Results<\/b>\n <\/p>\n

The following selected financial information is prepared in accordance with U.S. GAAP.<\/p>\n

\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n

\n
\n in thousands of dollars,
<\/i>
\n except for per share amounts<\/i>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n
\n Three months ended<\/b>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n
\n Selected expenses<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n February 28,
2025<\/b>
\n <\/span>\n <\/p>\n

\n
\n $<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n February 29,
2024<\/b>
\n <\/span>\n <\/p>\n

\n
\n $<\/b>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n General and administrative<\/span>\n <\/p>\n<\/td>\n

\n

\n 343<\/span>\n <\/p>\n<\/td>\n

\n

\n 415<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Investor relations<\/span>\n <\/p>\n<\/td>\n

\n

\n 16<\/span>\n <\/p>\n<\/td>\n

\n

\n 12<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Professional fees<\/span>\n <\/p>\n<\/td>\n

\n

\n 447<\/span>\n <\/p>\n<\/td>\n

\n

\n 200<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Salaries<\/span>\n <\/p>\n<\/td>\n

\n

\n 207<\/span>\n <\/p>\n<\/td>\n

\n

\n 191<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Salaries and directors expense \u2013 stock-based compensation<\/span>\n <\/p>\n<\/td>\n

\n

\n 2,230<\/span>\n <\/p>\n<\/td>\n

\n

\n 1,999<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Total expenses<\/span>\n <\/p>\n<\/td>\n

\n

\n 3,232<\/span>\n <\/p>\n<\/td>\n

\n

\n 2,820<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Share of loss on equity investment<\/span>\n <\/p>\n<\/td>\n

\n

\n 581<\/span>\n <\/p>\n<\/td>\n

\n

\n 793<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Comprehensive loss for the period<\/span>\n <\/p>\n<\/td>\n

\n

\n (3,623)<\/span>\n <\/p>\n<\/td>\n

\n

\n (3,601)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Basic and diluted loss per common share<\/span>\n <\/p>\n<\/td>\n

\n

\n (0.02)<\/span>\n <\/p>\n<\/td>\n

\n

\n (0.02)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n

For the three-month period ended February 28, 2025<\/span>, we reported a net loss of $3.6 million<\/span> comparable to a net loss of $3.6 million<\/span> for the three-month period ended February 29, 2024<\/span>. Comparing the first quarter of 2025 to first quarter of 2024, there was an increase of $0.2 million<\/span> in professional fees due to increased consulting and legal fees related to the Bornite preliminary economic assessment technical report and the Company’s Base Shelf Prospectus filing, offset by a decrease of $0.2 million<\/span> in our share of losses of Ambler Metals LLC (“Ambler Metals”) due to reduction in activities at the Ambler Access Project (as defined below).<\/p>\n

\n Corporate and Project Activities<\/b>\n <\/p>\n

\n Bornite PEA<\/i>\n <\/p>\n

On January 15, 2025<\/span>, the Company announced the positive results of its Preliminary Economic Assessment Study (“Bornite PEA”) for the Bornite copper project. Highlights of the Bornite PEA include the following:<\/p>\n