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Earnings Review and Free Research Report: Trilogy Metals Announced Q3 FY17 Results

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.

Earnings Reviewed

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.

Mine Update

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.

Outlook

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.

Stock Performance

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.

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SOURCE: Pro-Trader Daily