LONDON, UK / ACCESSWIRE / October 16, 2017 / Pro-Trader Daily has just published a free post-earnings coverage on Trilogy Metals Inc. (NYSE American: TMQ), which can be viewed by registering at http://protraderdaily.com/optin/?symbol=TMQ, following the Company's release of its third quarter fiscal 2017 (Q3 FY17) earnings results on October 05, 2017. The Vancouver, Canada-based Company, engaged in the copper mines development in North America, has not reported any revenues till date. Our daily stock reports are accessible for free, and with those to look forward today you also will be signing up for a complimentary member's account at: http://protraderdaily.com/register/.
At Pro-TD, we make it our mission to bring you news that matter about the stock you follow. Today, our research desk covers a blog story on TMQ. With the links below you can directly download the report of your stock of interest free of charge at: http://protraderdaily.com/optin/?symbol=TMQ.
During Q3 FY17, Trilogy Metals' general and administrative expenses were $0.27 million versus $0.31 million in Q3 FY16. The Company's mineral properties expenses surged to $8.47 million in Q3 FY17 from $3.08 million in last year's comparable period, primarily attributed to the size and variety of programs being undertaken. During Q3 FY17, salaries expenses were $0.22 million compared to $0.25 million in Q3 FY16. Meanwhile, foreign exchange gains came in at $0.59 million during Q3 FY17.
The precious metal mining Company's loss from continuing operations increased to $8.99 million in Q3 FY17 from $3.90 million in Q3 FY16. Furthermore, the Company reported a net comprehensive loss of $8.99 million, or $0.09 loss per basic and diluted share, in Q3 FY17 versus a net loss of $4.26 million, or $0.04 loss per basic and diluted share, in the year ago comparable quarter.
Bornite Project - Trilogy Metals is currently executing a $10 million exploration program at the Bornite Project. The Company informed that in 2017, its exploration at Bornite was approved by a joint Trilogy-South32 Technical Committee. In its update on the Project, the Company stated that it has begun drilling in early June and expected to finish by mid-October.
Arctic Project - The Company announced the engagement of Ausenco Engineering Canada Inc. to prepare the Arctic Project Pre-Feasibility Study (PFS) technical report, which is anticipated to be completed in Q1 FY18.
Cash Flow and Balance Sheet
In the nine months ended August 31, 2017, net cash used in operating activities increased to $9.07 million from $6.72 million the prior year's corresponding quarter. As on August 31, 2017, cash and cash equivalents balance stood at $10.21 million compared to $7.34 million as on November 30, 2016. Additionally, accumulated deficit as on August 31, 2017, was $126.14 million compared to $111.76 million as on November 30, 2016.
Trilogy Metals has allocated a total budget of $17.1 million to be spent during full-year FY17. The Company expects $10.0 million to be spent on the exploration program at the Bornite Project, while the remainder will spent on the advancement of the Arctic Project.
At the closing bell, on Friday, October 13, 2017, Trilogy Metals' stock declined 4.46%, ending the trading session at $1.07. A total volume of 434.43 thousand shares have exchanged hands, which was higher than the 3-month average volume of 290.44 thousand shares. The Company's stock price soared 30.49% in the last three months, 50.70% in the past six months, and 84.48% in the previous twelve months. Moreover, the stock skyrocketed 111.00% since the start of the year. The stock currently has a market cap of $113.06 million.
Pro-Trader Daily (Pro-TD) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and Canadian stocks. PRO-TD has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below.
PRO-TD has not been compensated; directly or indirectly; for producing or publishing this document.
PRESS RELEASE PROCEDURES:
The non-sponsored content contained herein has been prepared by a writer (the "Author") and is fact checked and reviewed by a third party research service company (the "Reviewer") represented by a credentialed financial analyst [for further information on analyst credentials, please email firstname.lastname@example.org. Rohit Tuli, a CFA® charterholder (the "Sponsor"), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable-effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by PRO-TD. PRO-TD is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way.
PRO-TD, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. PRO-TD, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, PRO-TD, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.
NOT AN OFFERING
This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither PRO-TD nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit http://protraderdaily.com/disclaimer/.
For any questions, inquiries, or comments reach out to us directly. If you're a company we are covering and wish to no longer feature on our coverage list contact us via email and/or phone between 09:30 EDT to 16:00 EDT from Monday to Friday at:
Phone number: (917) 341.4653
Office Address: Mainzer Landstrasse 50 Frankfurt am Main, Germany 60325
CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.
SOURCE: Pro-Trader Daily