Trilogy Metals reports FY2023 net loss $15.0M, raises going concern doubt

Trilogy Metals Inc.

Net loss $15.0M ($0.10/share) vs $24.3M ($0.17) in FY2022; narrowed on lower Ambler Metals losses.
Cash $2.6M; working capital $2.4M at Nov 30, 2023. Ambler Metals JV cash $63.8M.
2024 budget: corporate $2.8M, Ambler Metals $5.5M (JV-funded); focus on claim maintenance & external affairs.
Completed private placement of 5.85M shares at $0.55 for gross $3.2M in Apr 2023.
Management expresses substantial doubt about going concern; needs additional financing.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 1.0

Trilogy Metals Inc. reported the fiscal year ended November 30, 2023 results: net income a net loss of $15.0 million, EPS $0.10 basic and diluted loss per common share.

Period: the fiscal year ended November 30, 2023
Net income: a net loss of $15.0 million
EPS: $0.10 basic and diluted loss per common share
Result: reported results

Exact text from the filing

For the year ended November 30, 2023, we reported a net loss of $15.0 million (or $0.10 basic and diluted loss per common share) compared to a net loss of $24.3 million (or $0.17 basic and diluted loss per common share) in fiscal 2022.

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Source: SEC EDGAR

accession 0001279569-24-000130

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