10-K Filing

Trilogy Metals Inc. CIK: 1543418 FY 2019

Filing Information

Form Type	10-K
Accession Number	`0001104659-20-019678`
Period End Date	20191130
Filing Date	20200213
Fiscal Year	2019
Fiscal Period	FY
XBRL Instance	tmq-20191130.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 47 Income Statement 45 Cash Flow Statement 75 Stockholders Equity 26

Balance Sheet 47 line items

Line Item	Tag	Value	Unit	Period
Common Stock, No Par Value	`CommonStockNoParValue`	-	USD	Point-in-time
Common Stock, No Par Value	`CommonStockNoParValue`	-	USD	Point-in-time
Common Stock, Shares, Issued	`CommonStockSharesIssued`	140.43M	shares	Point-in-time
Common Stock, Shares, Issued	`CommonStockSharesIssued`	131.59M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$22.99M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$5.39M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$7.34M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$19.17M	USD	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$23.00K	USD	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$264.00K	USD	Point-in-time
Deposits and prepaid amounts	`PrepaidExpenseCurrent`	$619.00K	USD	Point-in-time
Deposits and prepaid amounts	`PrepaidExpenseCurrent`	$719.00K	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$23.63M	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$20.16M	USD	Point-in-time
Rent deposit	`DeferredRentReceivablesNetNoncurrent`	$114.00K	USD	Point-in-time
Rent deposit	`DeferredRentReceivablesNetNoncurrent`	$114.00K	USD	Point-in-time
Plant and equipment (note 3)	`PropertyPlantAndEquipmentNet`	$715.00K	USD	Point-in-time
Plant and equipment (note 3)	`PropertyPlantAndEquipmentNet`	$325.00K	USD	Point-in-time
Mineral properties and development costs (note 4)	`MineralPropertiesNet`	$30.63M	USD	Point-in-time
Mineral properties and development costs (note 4)	`MineralPropertiesNet`	$30.59M	USD	Point-in-time
Total Assets	`Assets`	$51.62M	USD	Point-in-time
Total Assets	`Assets`	$54.66M	USD	Point-in-time
Accounts payable and accrued liabilities (note 5)	`AccountsPayableAndAccruedLiabilitiesCurrent`	$1.66M	USD	Point-in-time
Accounts payable and accrued liabilities (note 5)	`AccountsPayableAndAccruedLiabilitiesCurrent`	$2.35M	USD	Point-in-time
Current liabilities	`LiabilitiesCurrent`	$2.35M	USD	Point-in-time
Current liabilities	`LiabilitiesCurrent`	$1.66M	USD	Point-in-time
Mineral properties purchase option (note 4c)	`PurchaseObligation`	$20.80M	USD	Point-in-time
Mineral properties purchase option (note 4c)	`PurchaseObligation`	$31.00M	USD	Point-in-time
Total Liabilities	`Liabilities`	$22.46M	USD	Point-in-time
Total Liabilities	`Liabilities`	$33.35M	USD	Point-in-time
Share capital (note 6) - unlimited common shares authorized, no par value Issued - 140,427,761 (2018 - 131,585,612)	`CommonStockValue`	$177.97M	USD	Point-in-time
Share capital (note 6) - unlimited common shares authorized, no par value Issued - 140,427,761 (2018 - 131,585,612)	`CommonStockValue`	$164.07M	USD	Point-in-time
Warrants (note 6(c))	`WarrantsAndRightsOutstanding`	$2.25M	USD	Point-in-time
Contributed surplus	`ContributedSurplus`	$122.00K	USD	Point-in-time
Contributed surplus	`ContributedSurplus`	$122.00K	USD	Point-in-time
Contributed surplus - options (note 6(a))	`AdditionalPaidInCapital`	$21.12M	USD	Point-in-time
Contributed surplus - options (note 6(a))	`AdditionalPaidInCapital`	$19.08M	USD	Point-in-time
Contributed surplus - units (note 6(b))	`ContributedSurplusUnits`	$1.49M	USD	Point-in-time
Contributed surplus - units (note 6(b))	`ContributedSurplusUnits`	$1.76M	USD	Point-in-time
Deficit	`RetainedEarningsAccumulatedDeficit`	$-154.81M	USD	Point-in-time
Deficit	`RetainedEarningsAccumulatedDeficit`	$-182.71M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$25.66M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$18.26M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$46.15M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$32.20M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$54.66M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$51.62M	USD	Point-in-time

Income Statement 45 line items

Line Item	Tag	Value	Unit	Period
Amortization	`DepreciationAndAmortization`	$211.00K	USD	Annual
Amortization	`DepreciationAndAmortization`	$160.00K	USD	Annual
Amortization	`DepreciationAndAmortization`	$107.00K	USD	Annual
Foreign exchange gain	`ForeignCurrencyTransactionGainLossBeforeTax`	$26.00K	USD	Annual
Foreign exchange gain	`ForeignCurrencyTransactionGainLossBeforeTax`	$395.00K	USD	Annual
Foreign exchange gain	`ForeignCurrencyTransactionGainLossBeforeTax`	$19.00K	USD	Annual
General and administrative	`GeneralAndAdministrativeExpense`	$1.84M	USD	Annual
General and administrative	`GeneralAndAdministrativeExpense`	$1.39M	USD	Annual
General and administrative	`GeneralAndAdministrativeExpense`	$1.53M	USD	Annual
Investor relations	`BusinessDevelopment`	$345.00K	USD	Annual
Investor relations	`BusinessDevelopment`	$406.00K	USD	Annual
Investor relations	`BusinessDevelopment`	$623.00K	USD	Annual
Mineral properties expense (note 4(d))	`MineralPropertyExpense`	$15.10M	USD	Annual
Mineral properties expense (note 4(d))	`MineralPropertyExpense`	$16.49M	USD	Annual
Mineral properties expense (note 4(d))	`MineralPropertyExpense`	$19.21M	USD	Annual
Professional fees	`ProfessionalFees`	$708.00K	USD	Annual
Professional fees	`ProfessionalFees`	$1.38M	USD	Annual
Professional fees	`ProfessionalFees`	$453.00K	USD	Annual
Salaries	`SalariesAndWages`	$1.31M	USD	Annual
Salaries	`SalariesAndWages`	$1.47M	USD	Annual
Salaries	`SalariesAndWages`	$975.00K	USD	Annual
Salaries - stock-based compensation	`AllocatedShareBasedCompensationExpense`	$705.00K	USD	Annual
Salaries - stock-based compensation	`AllocatedShareBasedCompensationExpense`	$3.85M	USD	Annual
Salaries - stock-based compensation	`AllocatedShareBasedCompensationExpense`	$1.44M	USD	Annual
Total expenses	`OperatingExpenses`	$28.41M	USD	Annual
Total expenses	`OperatingExpenses`	$18.93M	USD	Annual
Total expenses	`OperatingExpenses`	$21.92M	USD	Annual
Loss on held for trading investments	`DebtSecuritiesTradingRealizedGainLoss`	-	USD	Annual
Loss on held for trading investments	`DebtSecuritiesTradingRealizedGainLoss`	$-2.23M	USD	Annual
Loss on held for trading investments	`DebtSecuritiesTradingRealizedGainLoss`	$-272.00K	USD	Annual
Loss on disposal of equipment	`GainLossOnDispositionOfAssets`	$-8.00K	USD	Annual
Loss on disposal of equipment	`GainLossOnDispositionOfAssets`	-	USD	Annual
Loss on disposal of equipment	`GainLossOnDispositionOfAssets`	-	USD	Annual
Interest and other income	`InterestIncomeExpenseNet`	$59.00K	USD	Annual
Interest and other income	`InterestIncomeExpenseNet`	$346.00K	USD	Annual
Interest and other income	`InterestIncomeExpenseNet`	$500.00K	USD	Annual
Loss and comprehensive loss for the year	`NetIncomeLoss`	$-21.85M	USD	Annual
Loss and comprehensive loss for the year	`NetIncomeLoss`	$-27.91M	USD	Annual
Loss and comprehensive loss for the year	`NetIncomeLoss`	$-21.10M	USD	Annual
Basic and diluted loss per common share	`EarningsPerShareBasicAndDiluted`	$0.20	USD	Annual
Basic and diluted loss per common share	`EarningsPerShareBasicAndDiluted`	$0.18	USD	Annual
Basic and diluted loss per common share	`EarningsPerShareBasicAndDiluted`	$0.21	USD	Annual
Weighted average number of common shares outstanding	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	135.23M	shares	Annual
Weighted average number of common shares outstanding	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	105.56M	shares	Annual
Weighted average number of common shares outstanding	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	121.78M	shares	Annual

Cash Flow Statement 75 line items

Line Item	Tag	Value	Unit	Period
Loss for the year	`NetIncomeLoss`	$-21.85M	USD	Annual
Loss for the year	`NetIncomeLoss`	$-27.91M	USD	Annual
Loss for the year	`NetIncomeLoss`	$-21.10M	USD	Annual
Amortization	`AdjustmentForAmortization`	$107.00K	USD	Annual
Amortization	`AdjustmentForAmortization`	$160.00K	USD	Annual
Amortization	`AdjustmentForAmortization`	$211.00K	USD	Annual
Loss on held for trading investments	`MarketableSecuritiesGainLoss`	-	USD	Annual
Loss on held for trading investments	`MarketableSecuritiesGainLoss`	$-272.00K	USD	Annual
Loss on held for trading investments	`MarketableSecuritiesGainLoss`	$-2.23M	USD	Annual
Loss on disposal of equipment	`GainLossOnDispositionOfAssets`	$-8.00K	USD	Annual
Loss on disposal of equipment	`GainLossOnDispositionOfAssets`	-	USD	Annual
Loss on disposal of equipment	`GainLossOnDispositionOfAssets`	-	USD	Annual
Foreign exchange (gain) loss	`ForeignCurrencyTransactionGainLossRealized`	$-1.00K	USD	Annual
Foreign exchange (gain) loss	`ForeignCurrencyTransactionGainLossRealized`	$393.00K	USD	Annual
Foreign exchange (gain) loss	`ForeignCurrencyTransactionGainLossRealized`	$53.00K	USD	Annual
Stock-based compensation	`AllocatedShareBasedCompensationExpense`	$705.00K	USD	Annual
Stock-based compensation	`AllocatedShareBasedCompensationExpense`	$3.85M	USD	Annual
Stock-based compensation	`AllocatedShareBasedCompensationExpense`	$1.44M	USD	Annual
Decrease (increase) in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$241.00K	USD	Annual
Decrease (increase) in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$423.00K	USD	Annual
Decrease (increase) in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-447.00K	USD	Annual
Decrease (increase) in deposits and prepaid amounts	`IncreaseDecreaseInPrepaidExpense`	$113.00K	USD	Annual
Decrease (increase) in deposits and prepaid amounts	`IncreaseDecreaseInPrepaidExpense`	$-104.00K	USD	Annual
Decrease (increase) in deposits and prepaid amounts	`IncreaseDecreaseInPrepaidExpense`	$100.00K	USD	Annual
Increase (decrease) in accounts payable, accrued liabilities and due to related parties	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$697.00K	USD	Annual
Increase (decrease) in accounts payable, accrued liabilities and due to related parties	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$3.58M	USD	Annual
Increase (decrease) in accounts payable, accrued liabilities and due to related parties	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-2.59M	USD	Annual
Net Cash Provided by (Used in) Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$-15.41M	USD	Annual
Net Cash Provided by (Used in) Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$-23.49M	USD	Annual
Net Cash Provided by (Used in) Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$-22.07M	USD	Annual
Proceeds from exercise of options	`ProceedsFromStockOptionsExercised`	$208.00K	USD	Annual
Proceeds from exercise of options	`ProceedsFromStockOptionsExercised`	-	USD	Annual
Proceeds from exercise of options	`ProceedsFromStockOptionsExercised`	-	USD	Annual
Proceeds from exercise of warrants (note 6 (c))	`ProceedsFromWarrantExercises`	-	USD	Annual
Proceeds from exercise of warrants (note 6 (c))	`ProceedsFromWarrantExercises`	-	USD	Annual
Proceeds from exercise of warrants (note 6 (c))	`ProceedsFromWarrantExercises`	$9.91M	USD	Annual
Proceeds from bought deal financing (note 6)	`ProceedsFromBoughtDealFinancing`	-	USD	Annual
Proceeds from bought deal financing (note 6)	`ProceedsFromBoughtDealFinancing`	$28.75M	USD	Annual
Proceeds from bought deal financing (note 6)	`ProceedsFromBoughtDealFinancing`	-	USD	Annual
Share issuance costs	`ProceedsFromIssuanceOfCommonStock`	-	USD	Annual
Share issuance costs	`ProceedsFromIssuanceOfCommonStock`	$-1.80M	USD	Annual
Share issuance costs	`ProceedsFromIssuanceOfCommonStock`	$26.90M	USD	Point-in-time
Share issuance costs	`ProceedsFromIssuanceOfCommonStock`	-	USD	Annual
Settlement of Restricted Share Units	`EmployeeServiceShareBasedCompensationCashFlowEffectCashUsedToSettleAwards`	$-90.00K	USD	Annual
Settlement of Restricted Share Units	`EmployeeServiceShareBasedCompensationCashFlowEffectCashUsedToSettleAwards`	-	USD	Annual
Settlement of Restricted Share Units	`EmployeeServiceShareBasedCompensationCashFlowEffectCashUsedToSettleAwards`	-	USD	Annual
Net Cash Provided by (Used in) Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$-90.00K	USD	Annual
Net Cash Provided by (Used in) Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$26.95M	USD	Annual
Net Cash Provided by (Used in) Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$10.12M	USD	Annual
Acquisition of plant & equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$645.00K	USD	Annual
Acquisition of plant & equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$7.00K	USD	Annual
Acquisition of plant & equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$300.00K	USD	Annual
Mineral properties funding (note 4)	`ProceedsFromContributionsFromAffiliatesMineralProperties`	$10.44M	USD	Annual
Mineral properties funding (note 4)	`ProceedsFromContributionsFromAffiliatesMineralProperties`	$10.37M	USD	Annual
Mineral properties funding (note 4)	`ProceedsFromContributionsFromAffiliatesMineralProperties`	$10.20M	USD	Annual
Proceeds from the sale of investments, net of fees	`ProceedsFromIssuanceOfPrivatePlacementNet`	$2.30M	USD	Annual
Proceeds from the sale of investments, net of fees	`ProceedsFromIssuanceOfPrivatePlacementNet`	$3.48M	USD	Annual
Proceeds from the sale of investments, net of fees	`ProceedsFromIssuanceOfPrivatePlacementNet`	-	USD	Annual
Net Cash Provided by (Used in) Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$12.72M	USD	Annual
Net Cash Provided by (Used in) Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$9.55M	USD	Annual
Net Cash Provided by (Used in) Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$13.54M	USD	Annual
(Decrease) increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-1.96M	USD	Annual
(Decrease) increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$17.60M	USD	Annual
(Decrease) increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-3.82M	USD	Annual
Effect of exchange rate on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-1.00K	USD	Annual
Effect of exchange rate on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$8.00K	USD	Annual
Effect of exchange rate on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	-	USD	Annual
Cash and cash equivalents - beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$22.99M	USD	Point-in-time
Cash and cash equivalents - beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$5.39M	USD	Point-in-time
Cash and cash equivalents - beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$7.34M	USD	Point-in-time
Cash and cash equivalents - beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$19.17M	USD	Point-in-time
Cash and cash equivalents - end of year	`CashAndCashEquivalentsAtCarryingValue`	$22.99M	USD	Point-in-time
Cash and cash equivalents - end of year	`CashAndCashEquivalentsAtCarryingValue`	$5.39M	USD	Point-in-time
Cash and cash equivalents - end of year	`CashAndCashEquivalentsAtCarryingValue`	$7.34M	USD	Point-in-time
Cash and cash equivalents - end of year	`CashAndCashEquivalentsAtCarryingValue`	$19.17M	USD	Point-in-time

Stockholders Equity 26 line items

Line Item	Tag	Value	Unit	Period
Beginning Balance	`StockholdersEquity`	$25.66M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$18.26M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$46.15M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$32.20M	USD	Point-in-time
Exercise of options	`StockIssuedDuringPeriodValueStockOptionsExercised`	-	USD	Annual
Exercise of options	`StockIssuedDuringPeriodValueStockOptionsExercised`	-	USD	Annual
Exercise of options	`StockIssuedDuringPeriodValueStockOptionsExercised`	$208.00K	USD	Annual
Restricted Share Units	`VestingOfRestrictedShareUnits`	$-90.00K	USD	Annual
Restricted Share Units	`VestingOfRestrictedShareUnits`	-	USD	Annual
Restricted Share Units	`VestingOfRestrictedShareUnits`	-	USD	Annual
Bought deal financing	`StockIssuedDuringPeriodValueNewIssues`	$28.75M	USD	Annual
Share issuance costs	`AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts`	$1.80M	USD	Annual
Deferred Share Units	`DeferredShareUnits`	-	USD	Annual
Exercise of warrants	`VestingOfExerciseOfWarrants`	$9.91M	USD	Annual
Exercise of warrants (Shares)	`VestingOfExerciseOfWarrantsShares`	6.52M	shares	Annual
NovaGold DSU conversion	`StockIssuedDuringPeriodValueShareBasedCompensation`	-	USD	Annual
Stock-based compensation	`ShareBasedCompensation`	$-1.44M	USD	Annual
Stock-based compensation	`ShareBasedCompensation`	$-3.85M	USD	Annual
Stock-based compensation	`ShareBasedCompensation`	$-705.00K	USD	Annual
Loss for the year	`NetIncomeLoss`	$-21.85M	USD	Annual
Loss for the year	`NetIncomeLoss`	$-27.91M	USD	Annual
Loss for the year	`NetIncomeLoss`	$-21.10M	USD	Annual
Ending Balance	`StockholdersEquity`	$25.66M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$18.26M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$46.15M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$32.20M	USD	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.