Home Top Movers Trilogy Metals Inc. (TMQ) Stock Trending Up Following Finalizing of 2021 Exploration...

Trilogy Metals Inc. (TMQ) Stock Trending Up Following Finalizing of 2021 Exploration Field Program

Trilogy Metals Inc. (TMQ) stock prices were up by 3.40% as of the market closing on May 20th, 2021, bringing the price per share up to USD$2.74 at the end of the trading day. Subsequent current market fluctuations saw the stock rise by another 2.55% bringing it up to USD$2.81.

Get the hottest stocks to trade every day before the market opens 100% ‎free. Click here now. 

Finalizing of 2021 Exploration Field Program

The company announced on May 17th, 2021 that it had finalized its 2021 exploration field program at the Upper Kobuk Mineral Projects (UKMP) located in Northwestern Alaska. The program had been approved on November 19th, 2020, with an authorized budget of USD$27 million for the advancement of UKMP. The budget will be funded in its entirety by Ambler Metals and will consist of roughly 14600 meters of diamond drilling.

5 Stocks Under $10 That Are Poised to Take Off

Investing in stocks under $10 could significantly increase the returns on your portfolio, especially if you pick the right stocks! Within this report you will find 5 top stocks that offer investors huge upside potential and the best bang for their buck.

Add them to your watchlist before they take off!

Get the Top 5 Stocks Now!

Sponsored

Read More

Q1 2021 Financial Reports

IN TMQ’s financial reports for the first quarter of the fiscal year 2021, ended February 28th, 2021, the company reported a net loss of USD$4.5 million, representing a value of USD$0.03 basic and diluted loss per share of its common stock. The first quarter of the fiscal year 2020 had reported net earnings of USD$171 million, representing USD$1.22 basic earnings per common share and USD$1.16 diluted earnings per common share.

Collaboration with Ambler Metals

This difference is primarily attributable to the USD$176 million gain on the derecognition of mineral property assets contributed to Ambler Metals as of the establishment of the joint venture on February 11th, 2020. This gain was offset in part by the mineral property expenses incurred in the first quarter of 2020 that amounted to USD$1.5 million.

Further Comparative Financials

The company reported a share of loss in equity in investment that is USD$0.94 million higher in Q1 2021 than in 2020 because the first quarter of the prior year does not include a full quarter of costs for the equity pick up. Rather, it reflects the company’s pro-rate 50% share of Ambler Metals’ net loss from the initiation of the joint venture on February 11th, 2020 through to the end of the quarter at the end of the month of February in 2020.

Solid Liquidity Position

As of February 28th, 2021, TMQ reported cash and cash equivalents in the amount of USD$9.6 million. Further consolidating a strong liquidity position were reports of the company having working capital in the amount of USD$9.2 million, which the company anticipated being enough to fund their ongoing projects through the next 12 months. Given how TMQ is fully funding Ambler Metals, the company does not anticipate needing to fund their 50% share of future expenditures to advance projects until Amber Metals’ USD$145 million is spent.

Get the hottest stocks to trade every day before the market opens 100% ‎free. Click here now. 

Future Outlook for TMQ

Armed with a solid liquidity position, the company is set to capitalize on the recent development in regard to the UKMP 2021 exploration field program. Current and potential investors are hopeful that the company will continue to leverage the resources at its disposal to usher in unprecedented gains that will result in significant and sustained increases in shareholder value.

Get The Best Stocks To Trade Every Day!

Join now to get the NewsHeater.com pre-market morning brief 100% free

Must Read

Aprea Therapeutics Inc. (APRE) stock soars during current market trading. What’s the update?

Aprea Therapeutics Inc. (NASDAQ: APRE) stock gained by 41.03% at the last check in the current market trading. Aprea Therapeutics is a pharmaceutical business...

Roblox Corp. (NASDAQ: RBLX) stock falls during pre-market trading session. What’s happening?

Roblox Corp. (NASDAQ: RBLX) stock gained by 2.28% at last close while the RBLX stock price declines by 8.13% in the pre-market trading session....

Can-Fite BioPharma Inc. (CANF) stock soars during current market. Why so?

Can-Fite BioPharma Inc. (NASDAQ: CANF) stock gained by 4.42% in the current market trading session. Can-Fite BioPharma Ltd. is a medication research company in...

UXIN stock surges during current market. Here’s to know why?

Uxin Ltd. (NASDAQ: UXIN) stock gains by 14.67% at last check during current market trading. In China, Uxin Limited is a prominent online used...

Opgen Inc. (OPGN) stock surged during pre-market session. What’s driving it high?

Opgen Inc. (NASDAQ: OPGN) stock declined by 1.84% at the last close whereas the OPGN stock price gains by 22.07% in the pre-market trading...

Aprea Therapeutics Inc. (APRE) stock soars during current market trading. What’s the update?

Aprea Therapeutics Inc. (NASDAQ: APRE) stock gained by 41.03% at the last check in the current market trading. Aprea Therapeutics is a pharmaceutical business...

TAL Education Group (TAL) stock is tumbling today: What’s Going on?

Shares of the TAL Education Group (TAL) stock were tumbling in the current market trading session today on June 16, 2021, without any obvious...

SPI Energy Inc. (SPI) stock surged in the current market trading. Here’s the update

SPI Energy Inc. (NASDAQ: SPI) stock soars by 15.42% during the current market trading session. SPI Energy is an international renewable energy company that...

Related News

Applied UV, Inc. (AUVI) stock is Popping High today: Here’s to know why

Applied UV, Inc. (AUVI) stock announced today that its SteriLumen Lumicide™ Ribbon which is its proprietary connected UVC disinfection platform for surface disinfection can...

TAL Education Group (TAL) stock is tumbling today: What’s Going on?

Shares of the TAL Education Group (TAL) stock were tumbling in the current market trading session today on June 16, 2021, without any obvious...

Why Kindred Biosciences, Inc. (KIN) stock is soaring today?

Shares of the Kindred Biosciences, Inc. (KIN) stock continuing the rising trend in pre-market today on June 16, 2021, following the announcement of the...

Ampio Pharmaceuticals Inc. (AMPE) stock fell during pre-market trading. Here’s to know why?

Ampio Pharmaceuticals Inc. (NASDAQ: AMPE) stock gained by 4.71% at last close whereas the AMPE stock price declines by 2.65% in the pre-market trading...

Aptinyx Inc. (APTX) stock fell during after-hour. Here’s to know why?

Aptinyx Inc. (NASDAQ: APTX) stock declined by 0.29% at last close while the APTX stock price has been observed falling more during the after-hour...

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Get The Best Stocks To Trade Every Day!

Join now to get the NewsHeater.com pre-market morning brief 100% free

Get The Best Stocks To Trade Every Day!

Join now to get the NewsHeater.com pre-market morning brief 100% free

We do not sell or share your information with anyone.

Get Notified Of Insider Trades, Analyst Upgrades & Downgrades, Earnings Updates & Best Stocks To Trade Every Single Morning

100% free. stop anytime no spam