Trilogy Metals Inc. (TMQ) SEC Filing 10-Q Quarterly report for the period ending Sunday, February 28, 2021

Trilogy Metals Inc.

CIK: 1543418 Ticker: TMQ

Exhibit 99.1



TSX / NYSE American

Symbol: TMQ

News Release

Trilogy Metals Reports First Quarter Fiscal 2021 Financial Results

April 7, 2021 - Vancouver, British Columbia – Trilogy Metals Inc.

(TSX / NYSE American: TMQ) (“Trilogy Metals” or “the Company”) announces its financial results for the first quarter ended February 28, 2021. Details of the Company’s financial results are contained in the interim unaudited consolidated financial statements and Management’s Discussion and Analysis which will be available on the Company’s website at, on SEDAR at and on EDGAR at All amounts are in United States dollars unless otherwise stated.

First Quarter 2021 Results and Events Highlights



Q1 2021 comprehensive loss for the quarter of $4.5 million.



Q1 2021 ending cash position of $9.6 million, a decrease of $1.5 million from the previous quarter.



2021 budget of $27 million for the advancement of the Upper Kobuk Mineral Projects, funded entirely by Ambler Metals LLC, with approximately $140 million dedicated to the advancement of the projects.



Ambler Access Project granted 50-year right-of-way on federal lands.

Selected Results

The following selected financial information is prepared in accordance with U.S. GAAP.



in thousands of dollars,

except for per share amounts

     Three months ended  

Selected expenses

   February 28,

     February 29,


Mineral properties and feasibility study expenses

     —          1,545  

General and administrative

     401        651  

Investor relations

     154        126  

Professional fees

     229        668  


     439        224  

Salaries – stock-based compensation

     2,148        1,196  

Gain on derecognition of assets contributed to joint venture

     —          (175,770

Share of loss on equity investment

     1,120        178  

Comprehensive earnings (loss) for the period

     (4,516      171,179  

Basic earnings (loss) per common share

     (0.03      1.22  

Diluted earnings (loss) per common share

     (0.03      1.16  



The following information was filed by Trilogy Metals Inc. (TMQ) on Wednesday, April 7, 2021 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Trilogy Metals Inc.'s Definitive Proxy Statement (Form DEF 14A) filed after their 2021 10-K Annual Report includes:

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Inside Trilogy Metals Inc.'s 10-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Document And Entity Information
Interim Consolidated Balance Sheets (Parenthetical)
Interim Consolidated Balance Sheets (Unaudited)
Interim Consolidated Statements Of Cash Flows (Unaudited)
Interim Consolidated Statements Of Changes In Shareholders' Equity (Unaudited)
Interim Consolidated Statements Of Income (Loss) And Comprehensive Income (Loss) (Unaudited)
Accounts Payable And Accrued Liabilities
Accounts Payable And Accrued Liabilities (Details)
Accounts Payable And Accrued Liabilities (Tables)
Accounts Receivable
Accounts Receivable (Details)
Accounts Receivable (Tables)
Equity Method Investment
Equity Method Investment (Tables)
Equity Method Investment - Financial Information (Details)
Equity Method Investment - Gain On Recognition Of The Ukmp Assets Upon Transfer To The Ambler Metals Llc Joint Venture (Details)
Equity Method Investment - Narrative (Details)
Financial Instruments
Financial Instruments (Tables)
Financial Instruments - Contractually Obligated Cash Flow Requirements (Details)
Financial Instruments - Narrative (Details)
Fixed Assets
Fixed Assets (Details)
Fixed Assets (Tables)
Leases (Tables)
Leases - Future Minimum Payments (Details)
Leases - Lease Liabilities (Details)
Leases - Narrative (Details)
Leases - Right Of Use Asset (Details)
Nature Of Operations
Share Capital
Share Capital (Tables)
Share Capital - Assumptions Used In The Pricing Model (Details)
Share Capital - Common Shares Issued And Outstanding (Details)
Share Capital - Narrative (Details)
Share Capital - Stock Options Outstanding (Details)
Share Capital - Stock Options Plans And Changes (Details)
Share Capital - Stock Units Plans And Changes (Details)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (Policies)

Material Contracts, Statements, Certifications & more

Trilogy Metals Inc. provided additional information to their SEC Filing as exhibits

Ticker: TMQ
CIK: 1543418
Form Type: 10-Q Quarterly Report
Accession Number: 0001558370-21-004022
Submitted to the SEC: Wed Apr 07 2021 6:52:50 AM EST
Accepted by the SEC: Wed Apr 07 2021
Period: Sunday, February 28, 2021
Industry: Gold And Silver Ores

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