Trilogy Metals Inc. (TMQ) Financings
TSX: TMQ · Copper · Development stage
- Market cap$631.0M
- Share price$3.49
- 52-week range$3.28 – $14.08
- Shares outstanding180,811,209
- ExchangeTSX
- Websitetrilogymetals.com
Trilogy Metals Inc. is a metal exploration and development company holding a 50 percent interest in Ambler Metals LLC, which has a 100 percent interest in the Upper Kobuk Mineral Projects (' UKMP ') in northwestern Alaska. On December 19, 2019, South32 Limited, a globally diversified mining and metals company, exercised its option to form a 50/50 joint venture with Trilogy Metals. The UKMP is located within the Ambler Mining District which is one of the richest and most prospective known copper-dominant districts in the world. It hosts polymetallic volcanogenic massive sulfide (' VMS ') deposits that contain copper, zinc, lead, gold and silver, and carbonate replacement deposits which have been found to host high-grade copper and cobalt mineralization. Exploration efforts have been focused on two deposits in the Ambler Mining District - the Arctic VMS deposit and the Bornite carbonate replacement deposit. Both deposits are located within a land package that spans approximately 190,929 hectares. Ambler Metals has an agreement with NANA Regional Corporation, Inc., an Alaska Native Corporation, that provides a framework for the exploration and potential development of the Ambler Mining District in cooperation with local communities. Trilogy Metals' vision is to develop the Ambler Mining District into a premier North American copper producer while protecting and respecting subsistence livelihoods.
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Trilogy Metals Inc. financial statements
Key figures read from 29 of 29 financial statement filings, Oct 6, 2016 to Oct 2, 2026. Each column is the period as the company first filed it.
Balance sheet: annual key figures
US dollars (US$), in thousands, figures as printed in the statements. Losses and cash outflows are in brackets.
| Nov 2025 | Nov 2024 | Nov 2023 | Nov 2021 | Nov 2020 | |
|---|---|---|---|---|---|
| Cash and equivalents | US$51,613 | US$25,834 | US$2,590 | US$6,308 | US$11,125 |
| Total current assets | US$51,924 | US$26,045 | US$2,882 | US$6,612* | US$11,438* |
| Total current liabilities | US$33,113 | US$793 | US$465 | US$1,031 | US$1,046 |
| Working capital | US$18,811 | US$25,252 | US$2,417 | US$5,581 | US$10,392 |
| Exploration and evaluation assets | — | — | — | US$119 | US$0 |
| Total assets | US$157,304 | US$133,697 | US$138,020 | US$167,305 | US$185,265 |
| Total liabilities | US$33,183 | US$903 | US$465 | US$1,266 | US$1,454 |
| Shareholders' equity | US$124,121 | US$132,794 | US$137,555 | — | — |
* Calculated from the statement's own lines: the company did not print this total with a label.
Income statement: annual key figures
US dollars (US$), in thousands, figures as printed in the statements. Losses and cash outflows are in brackets.
| FY Nov 2025 | FY Nov 2024 | FY Nov 2023 | FY Nov 2022 | FY Nov 2021 | |
|---|---|---|---|---|---|
| Exploration and evaluation expense | US$166 | US$36 | US$43 | US$47 | US$143 |
| General and administrative | US$1,330 | US$1,218 | US$1,328 | US$1,287 | US$1,517 |
| Share-based compensation | US$3,336 | US$3,520 | US$3,887 | US$3,427 | US$3,472 |
| Impairments and write-downs | — | US$0 | — | US$90 | — |
| Net income (loss) | (US$42,241) | (US$8,587) | (US$14,951) | (US$24,257) | (US$21,660) |
Cash flow statement: annual key figures
US dollars (US$), in thousands, figures as printed in the statements. Losses and cash outflows are in brackets.
| FY Nov 2025 | FY Nov 2024 | FY Nov 2023 | FY Nov 2022 | FY Nov 2021 | |
|---|---|---|---|---|---|
| Operating cash flow | (US$3,248) | (US$1,828) | (US$3,093) | (US$3,935) | (US$5,117)* |
| Investing cash flow | (US$1,000) | US$25,000 | US$0 | US$142 | (US$119)* |
| Financing cash flow | US$30,010 | US$74 | US$3,115 | US$54 | US$416* |
| Exploration spending (capitalized) | — | US$0 | — | (US$142) | US$0 |
| Change in cash | US$25,762 | US$23,246 | US$22 | (US$3,739) | (US$4,820) |
| Cash at end of period | US$51,613 | US$25,834 | US$2,590 | US$2,573 | US$6,308 |
* Calculated from the statement's own lines: the company did not print this total with a label.
Trilogy Metals Inc. financings
5 financings announced or closed by Trilogy Metals Inc., read by Mining News Terminal, newest first.
| Date | Company | Type | Stage | Amount | Unit price | Release |
|---|---|---|---|---|---|---|
| 2026-08-28 | Trilogy Metals Inc. (TMQ) | Private placement | Closed, 1 tranche | US$35.6M | $2.17 | Trilogy Metals Announces Execution of Definitive Agreements for Strategic Equity Investment by the U.S. Department of War |
| 2026-08-03 | Trilogy Metals Inc. (TMQ) | Private placement | Announced | US$35.6M | — | Trilogy Metals Provides an Update on the Strategic Equity Investment by the U.S. Department of War |
| 2026-04-02 | Trilogy Metals Inc. (TMQ) | Private placement | Announced | $35.6M | — | Trilogy Metals Reports First Quarter Fiscal 2026 Results and Provides Update on U.S. Federal Strategic Investment and Project Advancement |
| 2025-11-07 | Trilogy Metals Inc. (TMQ) | Atm | Announced | US$200.0M | — | Trilogy Metals Enters Into At-The-Market Equity Distribution Agreement |
| 2025-05-27 | Trilogy Metals Inc. (TMQ) | Atm | Announced | US$25.0M | — | Trilogy Metals Enters Into At-The-Market Equity Distribution Agreement |