Trilogy Metals reports FY2022 net loss of $24.3M; raises going concern doubt

Trilogy Metals Inc.

Net loss $24.3M ($0.17/share) vs $21.7M ($0.15) in FY2021; increased share of JV losses.
Cash $2.6M, working capital $2.4M; substantial doubt about ability to continue as going concern.
Ambler Metals JV has $80.8M cash; 2023 JV budget $9.2M for Arctic project and $1.0M for access road.
Updated Arctic feasibility study and Bornite resource report filed under NI 43-101 and S-K 1300.
2023 corporate budget $4.0M; board and management taking fees/salary in shares to preserve cash.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Trilogy Metals Inc. reported financial results for the fiscal year and fourth quarter ended November 30, 2022.

Period: the fiscal year and fourth quarter ended November 30, 2022
Result: reported results

Exact text from the filing

On February 14, 2023, Trilogy Metals Inc. (the “Company”) issued a press release reporting financial results for the fiscal year and fourth quarter ended November 30, 2022.

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Trilogy Metals Inc. filing history →

Source: SEC EDGAR

accession 0001279569-23-000165

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