US Department of War Invests $35.6M in Trilogy Metals

By Philip Seaworth • Monday, September 14 16:01 • Permanent Link

Trilogy Metals has closed a US$35.6 million strategic equity investment from the U.S. Department of War, making the U.S. government an approximately 10% shareholder in the company.

The investment is being split across Trilogy Metals and South32 and will be used in full to advance exploration and development of the Upper Kobuk Mineral Projects in northwestern Alaska. The project area covers about 190,929 hectares and includes two key deposits: the Arctic polymetallic deposit and the Bornite copper-cobalt deposit.

The assets are being advanced through Ambler Metals, the 50/50 joint venture owned equally by Trilogy and South32. Following these announcements, the company's shares moved -1.68%, and are now trading at a price of $3.215. If you want to know more, read the company's complete 8-K report here.

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