Trilogy Metals (TMQ) - 2024 Q4 - Annual Results

Financial Performance - For the fiscal year ended November 30, 2024, Trilogy Metals reported a net loss of $8.6 million, a decrease of$6.4 million compared to a net loss of $15.0 million in fiscal 2023[5]. - The basic and diluted loss per common share improved to$0.05 in 2024 from $0.10 in 2023[5]. - Exploration expenses decreased to$36,000 in 2024 from $43,000 in 2023, while general and administrative expenses decreased to$1.2 million from $1.3 million[5]. Cash and Budget - Trilogy Metals had$25.8 million in cash and $25.3 million in working capital as of November 30, 2024, sufficient to fund the approved fiscal 2025 budget of$3.1 million[10]. - Ambler Metals has a budget of $5.8 million for fiscal 2025, up from$5.5 million in 2024, focusing on external and community affairs and maintaining mineral claims[7]. - The company received $25.0 million from Ambler Metals as a return of excess cash to joint venture owners during the fiscal year[10]. - Trilogy's corporate budget for 2025 includes professional fees of$1.1 million, an increase from $0.6 million in 2024[8]. Regulatory and Development Challenges - The Ambler Access Project faced regulatory challenges, with the BLM selecting "No Action" as the preferred alternative, impacting future development plans[12]. - The company is monitoring the implications of an executive order signed on January 20, 2025, which may affect the Ambler Road Project[14]. Strategic Focus - Trilogy Metals continues to focus on developing the Ambler Mining District, which hosts significant copper and polymetallic deposits[16].