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Trilogy Metals Inc. Reports Loss of $11.93 Million for the Nine Months Ended August 31, 2023
The company's total assets decreased to $140.58 million in this period from $146 million year over year
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.