Trilogy had a corporate presentation out 13 Feb 2024, with very little progress shown.
https://trilogymetals.com/site/assets/files/6364/2024-02-13-cp-tmq.pdf
The project is seriously bogged on the Ambler Access Road, with a Supplementary Environmental Impact Statement due to land 1Q Q2024, about now, and the Bureau of Land Management response by 2Q 2024, which looks ambitious.
Further, the mine permit is still at environmental studies stage. The presentation gestures at a 24-30 month timeline. Activist opposition might drag that out.
Arctic and Bornite are outstanding rich orebodies. Initial discoveries date back to 1947, so don't hold your breath.
Trilogy is nearly out of cash, with just $US2.6m in the bank. They will need a raise soon, likely an opportunity for S32 to increase its holding - I struggle to see anyone else being interested in tipping in more capital in the face of these uncertainties.
Ash
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