VANCOUVER, BC, Feb. 9, 2024 /PRNewswire/ – Trilogy Metals Inc. (TSX:TMQ) (NYSE:TMQ) (“Trilogy Metals”, “Trilogy” or “the Company”) announces its financial results for the year and fourth quarter ended November 30, 2023. Details of the Company’s financial results are contained in the audited consolidated financial statements and Management’s Discussion and Analysis in our annual report on Form 10-K which will be available on the Company’s website at www.trilogymetals.com, on SEDAR+ at www.sedarplus.ca and on EDGAR at www.sec.gov. All amounts are in United States dollars unless otherwise stated.
Annual Financial Results
The following selected annual information is prepared in accordance with U.S. GAAP.
in thousands of dollars,
except for per share amounts
Selected financial results
Year ended
November 30,
2023
$
Year ended
November 30,
2022
$
Exploration expense
43
47
General and administrative
1,328
1,287
Investor relations
130
183
Professional fees
1,073
998
Salaries
753
984
Salaries & directors fees – stock-based compensation
3,887
3,427
Share of loss on equity investment
7,844
17,360
Comprehensive loss for the year
(14,951)
(24,257)
Basic and diluted loss per common share
(0.10)
(0.17)
For the year ended November 30, 2023, we reported a net loss of $15.0 million (or $0.10 basic and diluted loss per common share) compared to a net loss of $24.3 million (or $0.17 basic and diluted loss per common share) in fiscal 2022. The $9.3 million decrease in comprehensive loss in the current year, when compared to fiscal 2022, is due to the decrease in our share of losses from our equity investment in Ambler Metals LLC of $9.5 million, decrease in …
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