Trilogy Metals Inc. reported a net loss of $1.7 million for the three-month period ended August 31, 2025, a slight increase from the $1.6 million net loss in the same quarter of 2024. This increase was primarily attributed to site activities undertaken by Ambler Metals LLC, the company's joint venture, for environmental baseline work and the initiation of a core re-boxing program.
For the nine-month period ended August 31, 2025, the net loss was $7.5 million, compared to $7.0 million for the corresponding period in 2024. The higher loss was mainly due to increased regulatory and legal fees related to the company's base shelf prospectus and at-the-market program, as well as Trilogy's share of Ambler Metals' losses for the aforementioned project activities.
During July 2025, Ambler Metals successfully completed a summer maintenance field program at the Bornite camp, which included an environmental baseline program to gather data for future mine permitting applications. The company also commenced a multi-year core re-boxing program to preserve drill core, with all field work completed safely, on budget, and on schedule. As of August 31, 2025, Trilogy maintained a strong liquidity position with $23.4 million in cash and cash equivalents.
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