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Trilogy Metals Inc. [TMQ], a leading mining company, has reported a net loss of $11.93 million for the nine months ended August 31, 2023. This represents a decrease from the net loss of $19.04 million reported for the same period last year.
Trilogy Metals Inc. recorded a gain of $8.93 million on its equity investment in Ambler Metals LLC, a decline from $13.3 million in the previous period.
Trilogy Metals Inc. has maintained a stable financial position during the nine months ended August 31, 2023. The company's total assets decreased from $146 million to $140.58 million, primarily attributed to a decrease in the investment in Ambler Metals LLC. However, the company's total liabilities also decreased slightly from $567,000 to $564,000. It's shareholders' equity was relatively stable at $140.01 million.
Trilogy Metals Inc. reported basic and diluted losses per common share of $0.08 for the nine months ended August 31, 2023, compared to a loss per share of $0.13 reported for the same period last year. The company's basic weighted average number of common shares outstanding increased from 145,555,376 to 151,572,299, indicating potential dilution of shares.