Trilogy Metals Files Q3 2024 10-Q
Ticker: TMQ · Form: 10-Q · Filed: Oct 8, 2024 · CIK: 1543418
Sentiment: neutral
Topics: 10-Q, mining, financials
TL;DR
Trilogy Metals filed its Q3 10-Q. Financials updated.
AI Summary
Trilogy Metals Inc. filed its 10-Q for the period ending August 31, 2024. The company, formerly NovaCopper Inc., is involved in gold and silver ores. Key financial data points and equity changes are detailed within the filing, reflecting its operational and financial status for the third quarter of fiscal year 2024.
Why It Matters
This filing provides investors and stakeholders with an update on Trilogy Metals' financial performance and operational status for the third quarter of fiscal year 2024, crucial for investment decisions.
Risk Assessment
Risk Level: medium — As a mining company, Trilogy Metals faces inherent risks related to commodity prices, exploration, development, and regulatory environments.
Key Numbers
- 20240831 — Fiscal Period End (Third quarter of fiscal year 2024)
- 20241008 — Filing Date (Date the 10-Q was submitted to the SEC)
Key Players & Entities
- Trilogy Metals Inc. (company) — Filer of the 10-Q
- NovaCopper Inc. (company) — Former name of Trilogy Metals Inc.
- 20240831 (date) — End of the reporting period
- 20241008 (date) — Filing date
- GOLD & SILVER ORES [1040] (industry) — Standard Industrial Classification
FAQ
What is the primary business of Trilogy Metals Inc.?
Trilogy Metals Inc. is involved in the GOLD & SILVER ORES industry, as indicated by its Standard Industrial Classification code [1040].
What was the previous name of Trilogy Metals Inc.?
The company was formerly known as NovaCopper Inc., with a date of name change on 20120228.
For what period is this 10-Q filing?
This 10-Q filing is for the period ending August 31, 2024.
When was this 10-Q filed with the SEC?
This 10-Q was filed on October 8, 2024.
What is Trilogy Metals Inc.'s fiscal year end?
Trilogy Metals Inc.'s fiscal year ends on November 30 (1130).
Filing Stats: 4,626 words · 19 min read · ~15 pages · Grade level 13.2 · Accepted 2024-10-08 06:46:55
Filing Documents
- tmq-20240831x10q.htm (10-Q) — 1373KB
- tmq-20240831xex31d1.htm (EX-31.1) — 18KB
- tmq-20240831xex31d2.htm (EX-31.2) — 18KB
- tmq-20240831xex32d1.htm (EX-32.1) — 9KB
- tmq-20240831xex32d2.htm (EX-32.2) — 10KB
- tmq-20240831x10q001.jpg (GRAPHIC) — 8KB
- 0001558370-24-013186.txt ( ) — 5510KB
- tmq-20240831.xsd (EX-101.SCH) — 33KB
- tmq-20240831_cal.xml (EX-101.CAL) — 41KB
- tmq-20240831_def.xml (EX-101.DEF) — 145KB
- tmq-20240831_lab.xml (EX-101.LAB) — 263KB
- tmq-20240831_pre.xml (EX-101.PRE) — 245KB
- tmq-20240831x10q_htm.xml (XML) — 932KB
- FINANCIAL INFORMATION
PART I - FINANCIAL INFORMATION 3 Item 1.
Financial Statements
Financial Statements 3 Item 2.
Management's Discussion and Analysis of Financial Condition and Results of Operations
Management's Discussion and Analysis of Financial Condition and Results of Operations 15 Item 3.
Quantitative and Qualitative Disclosures about Market Risk
Quantitative and Qualitative Disclosures about Market Risk 22 Item 4.
Controls and Procedures
Controls and Procedures 22
- OTHER INFORMATION
PART II - OTHER INFORMATION 23 Item 1.
Legal Proceedings
Legal Proceedings 23 Item 1A.
Risk Factors
Risk Factors 23 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 23 Item 3. Defaults Upon Senior Securities 23 Item 4. Mine Safety Disclosures 23 Item 5. Other Information 23 Item 6. Exhibits 23 Table of contents
- FINANCIAL INFORMATION
PART I - FINANCIAL INFORMATION
Financial Statements
Item 1.Financial Statements Trilogy Metals Inc. Condensed Interim Consolidated Balance Sheets (unaudited) in thousands of US dollars August 31, 2024 November 30, 2023 $ $ Assets Current assets Cash and cash equivalents 25,738 2,590 Accounts receivable 8 33 Deposits and prepaid amounts 352 259 Total current assets 26,098 2,882 Investment in Ambler Metals LLC (note 3) 108,114 135,021 Fixed assets — 4 Right of use asset (note 5(a)) 164 113 Total assets 134,376 138,020 Liabilities Current liabilities Accounts payable and accrued liabilities (note 4) 391 432 Current portion of lease liability 37 33 Total current liabilities 428 465 Long-term portion of lease liability 125 — Total liabilities 553 465 Shareholders' equity Share capital (note 6) – unlimited common shares authorized, no par value issued – 160,567,514 (2023 – 155,559,334 ) 190,200 187,886 Contributed surplus 118 118 Contributed surplus – options (note 6(a)) 28,741 28,237 Contributed surplus – units (note 6(b)) 3,528 3,127 Deficit ( 88,764 ) ( 81,813 ) Total shareholders' equity 133,823 137,555 Total liabilities and shareholders' equity 134,376 138,020 Subsequent Events (note 8) (See accompanying notes to the condensed interim consolidated financial statements) /s/ Tony Giardini, President, CEO and Director /s/ Diana Walters, Director Approved on behalf of the Board of Directors Trilogy Metals Inc. For the Quarter Ended August 31, 2024 3 Table of contents Trilogy Metals Inc. Condensed Interim Consolidated Statements of Loss and Comprehensive Loss (unaudited) in thousands of US dollars, except share and per share amounts For the three months ended For the nine months ended August 31, 2024 August 31, 2023 August 31, 2024 August 31, 2023 $ $ $ $ Expenses Amortization 1 2 4 6 Exploration expenses 28 22 28 23 Foreign exchang