As of August 31, 2024, Trilogy Metals Inc. reported total assets of $134.4 million, a decrease from $138.0 million as of November 30, 2023. The company experienced a significant increase in cash and cash equivalents, which rose to $25.7 million from $2.6 million during the same period. Total current assets also saw a substantial increase, reaching $26.1 million compared to $2.9 million as of November 30, 2023.
The investment in Ambler Metals LLC was valued at $108.1 million as of August 31, 2024, down from $135.0 million in the previous reporting period. Total current liabilities were reported at $428.5 million, while total shareholders' equity decreased to $133.8 million from $137.6 million.
For the nine months ended August 31, 2024, Trilogy reported a net loss of $7.0 million, an improvement from a net loss of $11.9 million for the same period in 2023. Cash flows used in operating activities for the nine months were $(1.9 million), compared to $(2.6 million) for the same period in the prior year. During this nine-month period, Trilogy received $25.0 million from Ambler Metals as a return of excess cash.
As of August 31, 2024, Ambler Metals had cash and cash equivalents of $9.8 million and total assets of $41.9 million. For the three-month period ended August 31, 2024, Trilogy reported a net loss of $1.6 million, an improvement from a net loss of $4.1 million for the same period in 2023.
About Trilogy Metals Inc.
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