Trilogy Metals

Primary ticker: NYSE:TMQ; TSX:TMQ
Stage of development: Exploration, Development
Commodity: Cobalt, Copper, Gold, Lead, Silver, Zinc
Project to promote: Upper Kobuk Mineral Projects
Project location: USA
Company presentation:

Live financials

Cash: USD12.3M
Debt: /

Major Shareholders:

Electrum Group – 20.9%
South32 Limited – 11.7%
Paulson & Co. – 10.2%
Neuberger Berman – 9.7%

Management Ownership: 16%

Trilogy Metals Inc. holds a 50 percent interest in Ambler Metals LLC which owns the Upper Kobuk Mineral Projects (“UKMP”) which are in the Ambler Mining District of northwest Alaska.

The two flagship assets within the UKMP are the Arctic Copper-Zinc-Lead-Gold-Silver project and the Bornite copper-cobalt project. The company is moving forward with a feasibility study on Arctic which we expect will be completed in the second half of 2020. We also expect to commence permitting at Arctic in 2020. The other flagship asset is our Bornite project, which is located 27 kilometres away from Arctic.

In early 2020, Trilogy formed a 50/50 joint venture with South32 Ltd which is an Australian base metal producer with a market capitalization of approximately US$8 billion. To earn their 50% interest in the JV, South32 contributed US$145 million.

So far it has been a milestone year for the company given that the United States Bureau of Land Management and the United States Army Corp. of Engineers have now completed the permitting of the Ambler Mining District Industrial Access Project which is a 211 mile private road that will link up the Ambler Mining District with the Dalton Highway and the Port of Alaska in Anchorage.

Currently, we have a treasury of approximately US$12 million and a market capitalization of US$267.8 million and we are listed on the TSX and NYSE.

View Research Report by Ramond James Ltd on 23 July View Research Report by Cantor Fitzgerald on 23 July

Management Profile

Tony Giardini, President and Chief Executive officer

Mr. Giardini was President of Ivanhoe Mines Ltd. from May 2019 to March 2020 and was Executive Vice President and Chief Financial Officer of Kinross Gold Corporation from December 2012 to April 2019.He was Chief Financial Officer of Ivanhoe Mines Ltd. from May 2006 to April 2012.

Prior to joining Ivanhoe Mines Ltd., Mr. Giardini spent more than 10 years with Placer Dome Inc. as Vice President and Treasurer.

Mr. Giardini is a Chartered Professional Accountant and a Certified Public Accountant and spent 12 years with accounting firm KPMG prior to joining Placer Dome Inc.

What is your rationale for attending 121 Mining Investment?

Diversify the shareholder base and increase liquidity

What recent news would you like to highlight to investors attending?

Completion of the permitting of the Ambler road and completion of the Feasibility study for the Arctic Project

What are your key goals for the next 3, 6 and 12 months?

3 Months:
Complete feasibility study for the Arctic Project

6 Months:
Commencement of permitting for the Arctic Project

12 Months:
Continued exploration of the Ambler mineral belt

What do you see as the key risks and challenges facing your company at the moment and how are you overcoming these?
Global economy and political turmoil in the United States

What do you think makes your company such a compelling investment?
We have some of the highest grade copper projects in the world and are economic at a variety of commodity prices. Safe jurisdiction.

Analyst Insight – provided by Independent Investment Research