Trilogy Metals Inc. (TMQ)
Trilogy Metals Inc. is a base metals exploration company actively identifying and developing mineral properties throughout the United States. Its core assets lie within the Upper Kobuk mineral projects, located in the Ambler mining district of Northwest Alaska, spanning an area of approximately 426,690 acres. These projects include the Arctic deposit, characterized by polymetallic volcanogenic massive sulfide mineralization, and Bornite, which contains carbonate-hosted copper-cobalt deposits. The company, founded in 2004, was formerly known as NovaCopper Inc. before adopting the name Trilogy Metals Inc. in September 2016, and is headquartered in Vancouver, Canada.
Sector: Gold and Silver Ores
Industry: Industrial Materials
Trilogy Metals Inc.
NYSE:TMQBasic Materials · Industrial Materials
-3.29%$2.06
AH Close$2.11+2.43%vs close
AH Close$2.11+2.43%vs close
Mkt Cap$373.6M
Float181.36M
O/S181.36M
Inst Own37.7%
SI3.8%
Dilution
Delisting Issues Timeline
Financials Summary
Revenue$0
Net Income-$42.24M
Total Assets$157.3M
Free Cash Flow-$3.25M
Debt & Equity
Debt 0%
Equity 100%
Total Debt$111K
Total Equity$124.12M
Shares Outstanding
Short Interest
Split History
No splits on record
Nothing in TMQ's public trading history: no forward or reverse split has affected the share count.
Balance Sheet Details
Assets$157.3M
Liabilities$33.18M
Accounts Receivable$118K
Accounts Payable$646K
Inventory$0
PP&E (Net)$117K
Goodwill$0
Intangible Assets$0
Income Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 | FY 2014 | FY 2013 | FY 2012 | FY 2011 | FY 2010 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-11-30 | 2024-11-30 | 2023-11-30 | 2022-11-30 | 2021-11-30 | 2020-11-30 | 2019-11-30 | 2018-11-30 | 2017-11-30 | 2016-11-30 | 2015-11-30 | 2014-11-30 | 2013-11-30 | 2012-11-30 | 2011-11-30 | 2010-11-30 |
| Revenue | $0 | $0 | $0 | $0 | $0 | $0 | $19.21M | $16.49M | $15.1M | $5.04M | $4.48M | $2.51M | $8.89M | $15.33M | $0 | $0 |
| YoY Growth | - | - | - | - | - | - | 16.5% | 9.2% | 199.8% | 12.5% | 78.2% | -71.8% | -42.0% | - | - | - |
| Cost of Revenue | $0 | $4K | $8K | $17K | $21K | $1.54M | $19.21M | $16.49M | $15.1M | $5.04M | $4.48M | $2.51M | $8.89M | $15K | $0 | $0 |
| Gross Profit | $0 | -$4K | -$8K | -$17K | -$21K | -$1.54M | -$19.21M | $0 | $0 | $0 | $0 | $0 | $0 | $15.31M | $0 | $0 |
| Gross Margin | - | - | - | - | - | - | -100.0% | - | - | - | - | - | - | 99.9% | - | - |
| Research and Development | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $207K | $16K | $0 |
| Selling, General, and Administrative | $9.11M | $6.59M | $7.04M | $6.7M | $7.81M | $9.94M | $8.38M | $5.3M | $4.12M | $3.6M | $4.7M | $6.39M | $14.26M | $30.07M | $10.06M | $1.78M |
| Other | $327K | $108K | $173K | $230K | $745K | $628K | $0 | -$406K | -$345K | $79K | $355K | $750K | $1.27M | $754K | $283K | $0 |
| Total Operating Expenses | $9.44M | $6.7M | $7.21M | $6.93M | $8.56M | $10.56M | $8.38M | $4.89M | $3.77M | $3.68M | $5.05M | $7.14M | $15.53M | $31.03M | $10.36M | $1.78M |
| Operating Income (EBIT) | -$9.44M | -$6.7M | -$7.22M | -$6.94M | -$8.58M | -$12.56M | -$27.59M | -$21.32M | -$19.54M | -$4.8M | -$9.51M | -$9.65M | -$24.35M | -$30.97M | -$10.36M | -$1.78M |
| Operating Margin | - | - | - | - | - | - | -143.6% | -129.3% | -129.4% | -95.3% | -212.4% | -384.0% | -273.8% | -202.1% | - | - |
| Interest Expense | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $346K | $59K | $61K | $24K | $2K | $40K | $45K | $974K | $1.56M |
| Interest Income | $1.16M | $748K | $120K | $34K | $16K | $87K | $500K | $346K | $59K | $61K | $24K | $2K | $40K | $45K | $0 | $0 |
| Other Income (Expense) | -$32.8M | -$1.89M | -$7.73M | -$17.31M | -$13.08M | $173.79M | -$315K | $97K | -$1.8M | -$171K | -$1.05M | -$2.53M | -$452K | $28K | -$974K | -$1.56M |
| Income Before Tax (EBT) | -$42.24M | -$8.59M | -$14.95M | -$24.26M | -$21.66M | $161.77M | -$27.91M | -$21.22M | -$21.34M | -$8.71M | -$9.53M | -$9.65M | -$24.39M | -$30.99M | -$11.34M | -$3.34M |
| Income Tax Expense | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $61K | $24K | $2K | $40K | $45K | $974K | $0 |
| Net Income | -$42.24M | -$8.59M | -$14.95M | -$24.26M | -$21.66M | $161.77M | -$27.91M | -$21.85M | -$21.1M | -$4.86M | -$9.53M | -$9.65M | -$24.39M | -$31.02M | -$11.34M | -$3.34M |
| Net Income Margin | - | - | - | - | - | - | -145.3% | -132.5% | -139.8% | -96.5% | -213.0% | -384.1% | -274.3% | -202.4% | - | - |
| Supplementary Data | ||||||||||||||||
| EPS | -0.26 | -0.05 | -0.10 | -0.17 | -0.15 | 2.39 | -0.20 | -0.18 | -0.20 | -0.05 | -0.12 | -0.17 | -0.47 | -0.67 | -0.24 | -0.07 |
| Diluted EPS | -0.26 | -0.05 | -0.10 | -0.17 | -0.15 | 2.33 | -0.20 | -0.18 | -0.20 | -0.05 | -0.12 | -0.17 | -0.47 | -0.67 | -0.24 | -0.07 |
| Weighted Average OS | 164.82M | 159.83M | 152.65M | 145.72M | 144.43M | 141.46M | 135.23M | 121.78M | 105.56M | 105.10M | 80.31M | 56.27M | 52.35M | 46.63M | 46.66M | 46.66M |
| EBITDA | -$42.24M | -$8.58M | -$14.94M | -$24.24M | -$21.64M | -$11.48M | -$28.23M | -$21.06M | -$19.43M | -$8.53M | -$8.69M | -$8.9M | -$23.15M | -$30.52M | -$9.8M | $0 |
| EBITDA Margin | - | - | - | - | - | - | -147.0% | -127.7% | -128.7% | -169.3% | -194.1% | -354.1% | -260.3% | -199.1% | - | - |
Balance Sheet
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 | FY 2014 | FY 2013 | FY 2012 | FY 2011 | FY 2010 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-11-30 | 2024-11-30 | 2023-11-30 | 2022-11-30 | 2021-11-30 | 2020-11-30 | 2019-11-30 | 2018-11-30 | 2017-11-30 | 2016-11-30 | 2015-11-30 | 2014-11-30 | 2013-11-30 | 2012-11-30 | 2011-11-30 | 2010-11-30 |
| Assets | ||||||||||||||||
| Current Assets | ||||||||||||||||
| Cash and Cash Equivalents | $51.61M | $25.83M | $2.59M | $2.57M | $6.31M | $11.13M | $19.17M | $22.99M | $5.39M | $7.34M | $16.06M | $5.07M | $6.48M | $22.24M | $1K | $60K |
| Short-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $2.52M | $7.54M | $0 | $0 | $0 | $0 | $0 | $0 |
| Cash and Short-Term Investments | $51.61M | $25.83M | $2.59M | $2.57M | $6.31M | $11.13M | $19.17M | $22.99M | $7.91M | $14.88M | $16.06M | $5.07M | $6.48M | $22.24M | $1K | $60K |
| Accounts Receivable | $118K | $16K | $33K | $17K | $19K | $129K | $264K | $23K | $470K | $47K | $39K | $176K | $90K | $365K | $0 | $0 |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Current Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $94K | $0 | $0 | $0 | $0 | $0 |
| Total Current Assets | $51.92M | $26.05M | $2.88M | $2.91M | $6.61M | $11.44M | $20.16M | $23.63M | $9.1M | $15.65M | $16.89M | $5.83M | $7.17M | $23.16M | $97K | $60K |
| Long-Term Assets | ||||||||||||||||
| Property, Plant & Equipment Net | $117K | $155K | $117K | $331K | $630K | $682K | $31.35M | $30.91M | $31.07M | $30.8M | $30.76M | $31M | $31.73M | $32.53M | $31.68M | $26.55M |
| Goodwill | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Intangible Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-Term Investments | $105.26M | $107.5M | $135.02M | $142.75M | $160.06M | $173.15M | $0 | $0 | $0 | $297K | $0 | $0 | $0 | $0 | $0 | $0 |
| Deferred Tax Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Long-Term Assets | $0 | $0 | $0 | $0 | $0 | $0 | $114K | $114K | $114K | $0 | $3.54M | $0 | $0 | $0 | $0 | $0 |
| Total Long-Term Assets | $105.38M | $107.65M | $135.14M | $143.09M | $160.69M | $173.83M | $31.46M | $31.03M | $31.18M | $31.1M | $34.3M | $31M | $31.73M | $32.53M | $31.68M | $26.55M |
| Other Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Assets | $157.3M | $133.7M | $138.02M | $146M | $167.31M | $185.26M | $51.62M | $54.66M | $40.28M | $46.75M | $51.18M | $36.83M | $38.9M | $55.7M | $31.77M | $26.61M |
| Liabilities | ||||||||||||||||
| Current Liabilities | ||||||||||||||||
| Accounts Payable | $646K | $196K | $146K | $188K | $205K | $226K | $902K | $400K | $2.77M | $160K | $161K | $36K | $196K | $207K | $0 | $285K |
| Short-Term Debt | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Current Income Tax Payable | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Current Unearned Revenue | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Current Liabilities | $30.74M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $39K | $0 | $0 | $0 | $0 | $11.93M |
| Total Current Liabilities | $33.11M | $793K | $465K | $534K | $1.03M | $1.05M | $2.35M | $1.66M | $4.25M | $593K | $751K | $979K | $1.74M | $1.97M | $521K | $12.21M |
| Long-Term Liabilities | ||||||||||||||||
| Long-Term Debt | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-Term Unearned Revenue | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-Term Deferred Tax Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Long-Term Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $31M | $20.8M | $10.37M | $0 | $0 | $0 | $0 | $0 | $0 | $11.1M |
| Total Long-Term Liabilities | $70K | $110K | $0 | $33K | $235K | $408K | $31M | $20.8M | $10.37M | $0 | $0 | $0 | $0 | $0 | $0 | $11.1M |
| Other Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $33.18M | $903K | $465K | $567K | $1.27M | $1.45M | $33.35M | $22.46M | $14.61M | $593K | $751K | $979K | $1.74M | $1.97M | $521K | $23.31M |
| Stockholders' Equity | ||||||||||||||||
| Preferred Stock | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Common Stock | $225.24M | $190.5M | $187.89M | $182.18M | $180.82M | $179.75M | $177.97M | $164.07M | $136.53M | $136.36M | $136.04M | $111.83M | $104.89M | $92.17M | $0 | $0 |
| Retained Earnings | -$132.64M | -$90.4M | -$81.81M | -$66.86M | -$42.6M | -$20.95M | -$182.71M | -$154.81M | -$132.87M | -$111.76M | -$106.9M | -$97.37M | -$87.72M | -$63.33M | -$32.31M | -$20.97M |
| Comprehensive Income & Other | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Stockholders' Equity | $31.52M | $32.69M | $31.48M | $30.11M | $27.82M | $25.01M | $23M | $22.94M | $22.01M | $21.56M | $21.29M | $21.38M | $19.98M | $24.88M | $63.56M | $24.27M |
| Total Equity | $124.12M | $132.79M | $137.56M | $145.43M | $166.04M | $183.81M | $18.26M | $32.2M | $25.66M | $46.15M | $50.43M | $35.85M | $37.16M | $53.72M | $31.25M | $3.3M |
| Minority Interest | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities and Equity | $157.3M | $133.7M | $138.02M | $146M | $167.31M | $185.26M | $51.62M | $54.66M | $40.28M | $46.75M | $51.18M | $36.83M | $38.9M | $55.7M | $31.77M | $26.61M |
| Supplementary Data | ||||||||||||||||
| Total Debt | $111K | $147K | $33K | $222K | $414K | $566K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Net Debt | -$51.5M | -$25.69M | -$2.56M | -$2.35M | -$5.89M | -$10.56M | -$19.17M | -$22.99M | -$5.39M | -$7.34M | -$16.06M | -$5.07M | -$6.48M | -$22.24M | -$1K | -$60K |
Cash Flow Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 | FY 2014 | FY 2013 | FY 2012 | FY 2011 | FY 2010 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-11-30 | 2024-11-30 | 2023-11-30 | 2022-11-30 | 2021-11-30 | 2020-11-30 | 2019-11-30 | 2018-11-30 | 2017-11-30 | 2016-11-30 | 2015-11-30 | 2014-11-30 | 2013-11-30 | 2012-11-30 | 2011-11-30 | 2010-11-30 |
| Operating Activities | ||||||||||||||||
| Net Income | -$42.24M | -$8.59M | -$14.95M | -$24.26M | -$21.66M | $161.77M | -$27.91M | -$21.85M | -$21.1M | -$4.86M | -$9.53M | -$9.65M | -$24.39M | -$31.02M | -$11.34M | -$3.34M |
| Depreciation & Amortization | $0 | $4K | $8K | $17K | $21K | $91K | $211K | $160K | $107K | $78K | $355K | $750K | $1.03M | $769K | $283K | $0 |
| Deferred Income Tax | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Stock-Based Compensation | $3.34M | $3.52M | $3.89M | $3.43M | $3.47M | $3.56M | $3.85M | $1.44M | $705K | $615K | $831K | $887K | $8.14M | $9.73M | $208K | $107K |
| Changes in Working Capital: | ||||||||||||||||
| Accounts Receivable | $8K | $17K | -$16K | $2K | $110K | $135K | -$241K | $447K | -$423K | -$8K | $156K | -$86K | $275K | -$365K | $0 | $0 |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Accounts Payable | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Working Capital | $1.66M | $388K | -$3K | -$570K | -$137K | -$931K | $597K | -$2.49M | $3.46M | -$202K | -$245K | -$542K | -$268K | $994K | $200K | $235K |
| Total Working Capital Change | $1.67M | $405K | -$19K | -$568K | -$27K | -$796K | $356K | -$2.04M | $3.04M | -$210K | -$89K | -$628K | $7K | $629K | $200K | $235K |
| Other Non-Cash Items | $33.99M | $2.83M | $7.98M | $17.45M | $13.08M | -$172.88M | $1K | $219K | $1.84M | -$4.31M | $0 | $0 | $0 | $7K | $974K | $1.56M |
| Net Cash from Operating | -$3.25M | -$1.83M | -$3.09M | -$3.94M | -$5.12M | -$8.25M | -$23.49M | -$22.07M | -$15.41M | -$8.69M | -$8.44M | -$8.64M | -$15.22M | -$19.89M | -$9.67M | -$1.44M |
| Investing Activities | ||||||||||||||||
| Capital Expenditures | $0 | $0 | $0 | $0 | -$119K | $0 | -$645K | -$7K | -$300K | -$122K | -$48K | -$18K | -$233K | -$1.63M | -$5.41M | $0 |
| Acquisitions | -$1M | $25M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | -$184K | $19.4M | $0 | $0 | $0 | $0 | $0 |
| Purchases of Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Sales of Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $2.3M | $3.48M | $228K | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Investing Activities | $0 | $0 | $0 | $142K | $0 | $0 | $10.2M | $10.44M | $10.37M | $0 | $7K | $0 | $0 | $0 | $0 | -$76K |
| Net Cash from Investing | -$1M | $25M | $0 | $142K | -$119K | $0 | $9.55M | $12.72M | $13.54M | -$78K | $19.36M | -$18K | -$233K | -$1.63M | -$5.41M | -$76K |
| Financing Activities | ||||||||||||||||
| Debt Repaid | - | - | - | - | - | - | - | - | - | - | - | - | - | - | $24M | -$1.52M |
| Common Stock Issuance | $30.01M | $74K | $3.12M | $54K | $416K | $0 | $0 | $28.75M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Common Stock Repurchases | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | -$90K | -$29K | $0 | $0 | -$329K | $0 | $0 | $0 |
| Dividends Paid | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Financing Activities | $0 | $0 | $0 | $0 | $0 | $217K | $10.12M | -$1.8M | $0 | $0 | $142K | $7.25M | $20K | $43.76M | $39.08M | $0 |
| Net Cash from Financing | $30.01M | $74K | $3.12M | $54K | $416K | $217K | $10.12M | $26.95M | -$90K | -$29K | $142K | $7.25M | -$309K | $43.76M | $15.08M | $1.52M |
| Forex Effect | $17K | -$2K | -$5K | $4K | $3K | -$15K | -$1K | $0 | $8K | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Net Change in Cash | $25.78M | $23.24M | $17K | -$3.73M | -$4.82M | -$8.05M | -$3.82M | $17.6M | -$1.95M | -$8.8M | $11.06M | -$1.41M | -$15.76M | $22.24M | $1K | $0 |
| Supplementary Data | ||||||||||||||||
| Operating Cash Flow | -$3.25M | -$1.83M | -$3.09M | -$3.94M | -$5.12M | -$8.25M | -$23.49M | -$22.07M | -$15.41M | -$8.69M | -$8.44M | -$8.64M | -$15.22M | -$19.89M | -$9.67M | -$1.44M |
| Capital Expenditure | $0 | $0 | $0 | $0 | $0 | $0 | -$645K | -$7K | -$300K | -$122K | -$48K | -$18K | -$233K | -$1.63M | -$5.41M | $0 |
| Free Cash Flow | -$3.25M | -$1.83M | -$3.09M | -$3.94M | -$5.12M | -$8.25M | -$24.14M | -$22.08M | -$15.71M | -$8.81M | -$8.48M | -$8.66M | -$15.45M | -$21.52M | -$15.08M | -$1.44M |
| Cash at Beginning | $25.83M | $2.59M | $2.57M | $6.31M | $11.13M | $19.17M | $22.99M | $5.39M | $7.34M | $16.14M | $5.07M | $6.48M | $22.24M | $1K | $0 | $0 |
| Cash at End | $51.61M | $25.83M | $2.59M | $2.57M | $6.31M | $11.13M | $19.17M | $22.99M | $5.39M | $7.34M | $16.14M | $5.07M | $6.48M | $22.24M | $1K | $0 |