Trilogy Metals Reports Strong Financials & Federal Support

By Chris Stiles • Tuesday, February 17 13:33 • Permanent Link

Trilogy Metals Inc. has reported its financial results for the year ended November 30, 2025, and highlighted strategic U.S. federal support for domestic critical minerals production. The company reported a strong cash balance of $51.6 million as of November 30, 2025, which provides significant financial flexibility. This is an increase from the previous year, indicating improved financial strength.

The company also secured a $17.8 million strategic investment commitment from the U.S. federal government, reflecting the strategic importance of the Upper Kobuk Mineral Projects (UKMP) to domestic critical mineral supply chains. This represents a significant boost compared to the previous year.

Trilogy Metals Inc. approved a $35 million budget for the Ambler Metals joint venture for 2026, aligned with permitting and development milestones to advance the Arctic copper-silver-zinc-lead-gold deposit towards production. This budget represents an increase from the prior year, indicating a higher level of investment in the project.

The company reported a net loss of $42.2 million for the year ended November 30, 2025, compared to a net loss of $8.6 million in fiscal 2024. This represents a significant increase in losses compared to the previous year.

Trilogy Metals Inc. has strengthened its leadership and advisory capacity to support permitting and project advancement activities at Ambler Metals. The 2026 work program represents a crucial year of progress for the UKMP as Ambler Metals prepares to initiate the mine permitting process for the Arctic project, while continuing to advance the technical and organizational foundations required for future development.

Ambler Metals has approved a budget of approximately $35 million for fiscal 2026, with activities focusing on re-staffing, initiating the permitting process for the Arctic project, and progressing technical work necessary to support long-term development. This budget represents an increase from the prior year, signaling a higher level of investment in exploration, development, and permitting activities.

Today the company's shares have moved -2.65% to a price of $5.51. Check out the company's full 8-K submission here.

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