Trilogy Metals Q1 loss narrows to $3.6M; cash at $2.0M; going concern doubt

Trilogy Metals Inc.

2024-Q1 EPS reported -$0.02

Net loss $3.6M ($0.02/sh) vs $5.1M loss ($0.03/sh) in prior year; lower share of Ambler Metals loss.
Cash and cash equivalents $2.0M, working capital $1.7M; Ambler Metals holds $61.3M cash.
BLM final SEIS for Ambler Access Project delayed to Q2 2024 (from earlier Q1 expectation).
Cash preservation: board taking fees in DSUs; senior mgt taking part of salary in shares.
Company states substantial doubt about ability to continue as a going concern.

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 0.9

Trilogy Metals Inc. reported first quarter ended February 29, 2024 results: net income net loss of $3.6 million, EPS Basic and diluted loss per common share (0.02).

Period: first quarter ended February 29, 2024
Net income: net loss of $3.6 million
EPS: Basic and diluted loss per common share (0.02)
Result: reported results

Exact text from the filing

For the three-month period ended February 29, 2024, we reported a net loss of $3.6 million compared to a net loss of $5.1 million for the three-month period ended February 28, 2023.

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Source: SEC EDGAR

accession 0001279569-24-000377

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