10-K Filing

Trilogy Metals Inc. CIK: 1543418 FY 2022

Filing Information

Form Type	10-K
Accession Number	`0001558370-23-001217`
Period End Date	20221130
Filing Date	20230214
Fiscal Year	2022
Fiscal Period	FY
XBRL Instance	tmq-20221130x10k_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 48 Income Statement 55 Cash Flow Statement 59 Stockholders Equity 20

Balance Sheet 48 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
Cash	`Cash`	$2.57M	USD	Point-in-time
Common Stock, Shares, Issued	`CommonStockSharesIssued`	145.01M	shares	Point-in-time
Common Stock, Shares, Issued	`CommonStockSharesIssued`	146.23M	shares	Point-in-time
Cash	`Cash`	$6.31M	USD	Point-in-time
Accounts receivable (note 3)	`AccountsReceivableNetCurrent`	$19.00K	USD	Point-in-time
Accounts receivable (note 3)	`AccountsReceivableNetCurrent`	$17.00K	USD	Point-in-time
Deposits and prepaid amounts	`PrepaidExpenseCurrent`	$285.00K	USD	Point-in-time
Deposits and prepaid amounts	`PrepaidExpenseCurrent`	$320.00K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$2.91M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$6.61M	USD	Point-in-time
Investment in Ambler Metals LLC (note 4)	`EquityMethodInvestments`	$160.06M	USD	Point-in-time
Investment in Ambler Metals LLC (note 4)	`EquityMethodInvestments`	$142.75M	USD	Point-in-time
Fixed assets (note 5)	`PropertyPlantAndEquipmentNet`	$12.00K	USD	Point-in-time
Fixed assets (note 5)	`PropertyPlantAndEquipmentNet`	$29.00K	USD	Point-in-time
Mineral properties (note 6)	`MineralPropertiesNet`	$119.00K	USD	Point-in-time
Right of use asset (note 8 (a))	`OperatingLeaseRightOfUseAsset`	$482.00K	USD	Point-in-time
Right of use asset (note 8 (a))	`OperatingLeaseRightOfUseAsset`	$476.00K	USD	Point-in-time
Right of use asset (note 8 (a))	`OperatingLeaseRightOfUseAsset`	$319.00K	USD	Point-in-time
Total assets	`Assets`	$146.00M	USD	Point-in-time
Total assets	`Assets`	$167.31M	USD	Point-in-time
Accounts payable and accrued liabilities (note 7)	`AccountsPayableAndAccruedLiabilitiesCurrent`	$852.00K	USD	Point-in-time
Accounts payable and accrued liabilities (note 7)	`AccountsPayableAndAccruedLiabilitiesCurrent`	$345.00K	USD	Point-in-time
Current portion of lease liability	`OperatingLeaseLiabilityCurrent`	$179.00K	USD	Point-in-time
Current portion of lease liability	`OperatingLeaseLiabilityCurrent`	$189.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.03M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$534.00K	USD	Point-in-time
Long-term portion of lease liability (note 8 (b))	`OperatingLeaseLiabilityNoncurrent`	$33.00K	USD	Point-in-time
Long-term portion of lease liability (note 8 (b))	`OperatingLeaseLiabilityNoncurrent`	$235.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$1.27M	USD	Point-in-time
Total liabilities	`Liabilities`	$567.00K	USD	Point-in-time
Share capital (note 9) - unlimited common shares authorized, no par value Issued - 146,225,035 (2021 - 145,009,811)	`CommonStockValue`	$182.18M	USD	Point-in-time
Share capital (note 9) - unlimited common shares authorized, no par value Issued - 146,225,035 (2021 - 145,009,811)	`CommonStockValue`	$180.82M	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 9(a))	`AdditionalPaidInCapital`	$25.99M	USD	Point-in-time
Contributed surplus - options (note 9(a))	`AdditionalPaidInCapital`	$27.35M	USD	Point-in-time
Contributed surplus - units (note 9(b))	`ContributedSurplusUnits`	$2.64M	USD	Point-in-time
Contributed surplus - units (note 9(b))	`ContributedSurplusUnits`	$1.71M	USD	Point-in-time
Deficit	`RetainedEarningsAccumulatedDeficit`	$-66.86M	USD	Point-in-time
Deficit	`RetainedEarningsAccumulatedDeficit`	$-42.60M	USD	Point-in-time
Total Shareholders' Equity	`StockholdersEquity`	$183.81M	USD	Point-in-time
Total Shareholders' Equity	`StockholdersEquity`	$145.43M	USD	Point-in-time
Total Shareholders' Equity	`StockholdersEquity`	$18.26M	USD	Point-in-time
Total Shareholders' Equity	`StockholdersEquity`	$166.04M	USD	Point-in-time
Total Liabilities and Shareholders' Equity	`LiabilitiesAndStockholdersEquity`	$146.00M	USD	Point-in-time
Total Liabilities and Shareholders' Equity	`LiabilitiesAndStockholdersEquity`	$167.31M	USD	Point-in-time

Income Statement 55 line items

Line Item	Tag	Value	Unit	Period
Amortization	`DepreciationAndAmortization`	$17.00K	USD	Annual
Amortization	`DepreciationAndAmortization`	$91.00K	USD	Annual
Amortization	`DepreciationAndAmortization`	$21.00K	USD	Annual
Exploration expenses	`ExplorationExpense`	$143.00K	USD	Annual
Exploration expenses	`ExplorationExpense`	$47.00K	USD	Annual
Feasibility study (note 6(d))	`ResearchAndDevelopmentExpense`	$1.06M	USD	Annual
Foreign exchange (gain)/loss	`ForeignCurrencyTransactionGainLossBeforeTax`	$18.00K	USD	Annual
Foreign exchange (gain)/loss	`ForeignCurrencyTransactionGainLossBeforeTax`	$-36.00K	USD	Annual
Foreign exchange (gain)/loss	`ForeignCurrencyTransactionGainLossBeforeTax`	$-56.00K	USD	Annual
General and administrative	`GeneralAndAdministrativeExpense`	$1.29M	USD	Annual
General and administrative	`GeneralAndAdministrativeExpense`	$1.52M	USD	Annual
General and administrative	`GeneralAndAdministrativeExpense`	$1.65M	USD	Annual
Investor relations	`BusinessDevelopment`	$602.00K	USD	Annual
Investor relations	`BusinessDevelopment`	$537.00K	USD	Annual
Investor relations	`BusinessDevelopment`	$183.00K	USD	Annual
Mineral properties expense (note 6(d))	`MineralPropertyExpense`	$1.54M	USD	Annual
Professional fees	`ProfessionalFees`	$998.00K	USD	Annual
Professional fees	`ProfessionalFees`	$818.00K	USD	Annual
Professional fees	`ProfessionalFees`	$1.35M	USD	Annual
Salaries	`SalariesAndWages`	$2.01M	USD	Annual
Salaries	`SalariesAndWages`	$1.41M	USD	Annual
Salaries	`SalariesAndWages`	$984.00K	USD	Annual
Salaries - technical services (note 4(e))	`SalariesTechnicalServices`	$898.00K	USD	Annual
Salaries and directors expense - stock-based compensation	`EmployeeBenefitsAndShareBasedCompensationNoncash`	$3.56M	USD	Annual
Salaries and directors expense - stock-based compensation	`EmployeeBenefitsAndShareBasedCompensationNoncash`	$3.47M	USD	Annual
Salaries and directors expense - stock-based compensation	`EmployeeBenefitsAndShareBasedCompensationNoncash`	$3.43M	USD	Annual
Total expenses	`OperatingExpenses`	$8.62M	USD	Annual
Total expenses	`OperatingExpenses`	$6.92M	USD	Annual
Total expenses	`OperatingExpenses`	$12.16M	USD	Annual
Gain on disposition of mineral property	`GainLossOnDispositionOfAssets`	$175.77M	USD	Annual
Gain on disposition of mineral property	`GainLossOnDispositionOfAssets`	$84.00K	USD	Annual
Interest and other income	`InterestAndOtherIncome`	$34.00K	USD	Annual
Interest and other income	`InterestAndOtherIncome`	$16.00K	USD	Annual
Interest and other income	`InterestAndOtherIncome`	$87.00K	USD	Annual
Services agreement income (note 4(e))	`ServiceAgreementIncome`	$929.00K	USD	Annual
Services agreement income (note 4(e))	`ServiceAgreementIncome`	$22.00K	USD	Annual
Share of loss on equity investment (note 4(b))	`IncomeLossFromEquityMethodInvestments`	$-2.85M	USD	Annual
Share of loss on equity investment (note 4(b))	`IncomeLossFromEquityMethodInvestments`	$-17.36M	USD	Annual
Share of loss on equity investment (note 4(b))	`IncomeLossFromEquityMethodInvestments`	$-13.08M	USD	Annual
Write off mineral properties	`WriteOffMineralProperties`	$90.00K	USD	Annual
Comprehensive (loss) earnings for the year	`OtherComprehensiveIncomeLossBeforeTaxPortionAttributableToParent`	$161.77M	USD	Annual
Comprehensive (loss) earnings for the year	`OtherComprehensiveIncomeLossBeforeTaxPortionAttributableToParent`	$-24.26M	USD	Annual
Comprehensive (loss) earnings for the year	`OtherComprehensiveIncomeLossBeforeTaxPortionAttributableToParent`	$-21.66M	USD	Annual
Basic (loss) earnings per common share	`EarningsPerShareBasic`	$-0.15	USD	Annual
Basic (loss) earnings per common share	`EarningsPerShareBasic`	$1.14	USD	Annual
Basic (loss) earnings per common share	`EarningsPerShareBasic`	$-0.17	USD	Annual
Diluted (loss) earnings per common share	`EarningsPerShareDiluted`	$1.12	USD	Annual
Diluted (loss) earnings per common share	`EarningsPerShareDiluted`	$-0.15	USD	Annual
Diluted (loss) earnings per common share	`EarningsPerShareDiluted`	$-0.17	USD	Annual
Basic weighted average number of common shares outstanding	`WeightedAverageNumberOfSharesOutstandingBasic`	144.43M	shares	Annual
Basic weighted average number of common shares outstanding	`WeightedAverageNumberOfSharesOutstandingBasic`	145.72M	shares	Annual
Basic weighted average number of common shares outstanding	`WeightedAverageNumberOfSharesOutstandingBasic`	141.46M	shares	Annual
Diluted weighted average number of common shares outstanding	`WeightedAverageNumberOfDilutedSharesOutstanding`	144.60M	shares	Annual
Diluted weighted average number of common shares outstanding	`WeightedAverageNumberOfDilutedSharesOutstanding`	144.43M	shares	Annual
Diluted weighted average number of common shares outstanding	`WeightedAverageNumberOfDilutedSharesOutstanding`	145.72M	shares	Annual

Cash Flow Statement 59 line items

Line Item	Tag	Value	Unit	Period
(Loss) earnings for the year	`NetIncomeLoss`	$161.77M	USD	Annual
(Loss) earnings for the year	`NetIncomeLoss`	$-24.26M	USD	Annual
(Loss) earnings for the year	`NetIncomeLoss`	$-21.66M	USD	Annual
Amortization	`AdjustmentForAmortization`	$91.00K	USD	Annual
Amortization	`AdjustmentForAmortization`	$17.00K	USD	Annual
Amortization	`AdjustmentForAmortization`	$21.00K	USD	Annual
Professional fees settled by common shares	`RestrictedStockExpense`	$114.00K	USD	Annual
Office lease accounting	`IncreaseDecreaseInOfficeLeasePayments`	$16.00K	USD	Annual
Office lease accounting	`IncreaseDecreaseInOfficeLeasePayments`	$15.00K	USD	Annual
Office lease accounting	`IncreaseDecreaseInOfficeLeasePayments`	$7.00K	USD	Annual
Loss on working capital written-off upon joint venture formation	`LossOnWorkingCapitalWrittenOffUponJointVentureFormation`	$18.00K	USD	Annual
Gain on disposal of mineral property	`GainLossOnDispositionOfAssets`	$175.77M	USD	Annual
Gain on disposal of mineral property	`GainLossOnDispositionOfAssets`	$84.00K	USD	Annual
Loss on equity investment in Ambler Metals LLC (note 4(b))	`IncomeLossFromEquityMethodInvestments`	$-2.85M	USD	Annual
Loss on equity investment in Ambler Metals LLC (note 4(b))	`IncomeLossFromEquityMethodInvestments`	$-17.36M	USD	Annual
Loss on equity investment in Ambler Metals LLC (note 4(b))	`IncomeLossFromEquityMethodInvestments`	$-13.08M	USD	Annual
Unrealized foreign exchange (gain) loss	`ForeignCurrencyTransactionGainLossUnrealized`	$-10.00K	USD	Annual
Unrealized foreign exchange (gain) loss	`ForeignCurrencyTransactionGainLossUnrealized`	$-27.00K	USD	Annual
Unrealized foreign exchange (gain) loss	`ForeignCurrencyTransactionGainLossUnrealized`	$18.00K	USD	Annual
Stock-based compensation	`AllocatedShareBasedCompensationExpense`	$3.56M	USD	Annual
Stock-based compensation	`AllocatedShareBasedCompensationExpense`	$3.47M	USD	Annual
Stock-based compensation	`AllocatedShareBasedCompensationExpense`	$3.43M	USD	Annual
Write off mineral properties	`ImpairmentOfLongLivedAssetsToBeDisposedOf`	$90.00K	USD	Annual
Decrease in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-110.00K	USD	Annual
Decrease in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-2.00K	USD	Annual
Decrease in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-135.00K	USD	Annual
Decrease (Increase) in deposits and prepaid amounts	`IncreaseDecreaseInPrepaidExpense`	$-535.00K	USD	Annual
Decrease (Increase) in deposits and prepaid amounts	`IncreaseDecreaseInPrepaidExpense`	$101.00K	USD	Annual
Decrease (Increase) in deposits and prepaid amounts	`IncreaseDecreaseInPrepaidExpense`	$64.00K	USD	Annual
Decrease in accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-36.00K	USD	Annual
Decrease in accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-1.47M	USD	Annual
Decrease in accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-506.00K	USD	Annual
Total cash flows used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-3.94M	USD	Annual
Total cash flows used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-5.12M	USD	Annual
Total cash flows used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-8.25M	USD	Annual
Proceeds from exercise of options	`ProceedsFromStockOptionsExercised`	$54.30K	USD	Annual
Proceeds from exercise of options	`ProceedsFromStockOptionsExercised`	$217.00K	USD	Annual
Proceeds from exercise of options	`ProceedsFromStockOptionsExercised`	$416.00K	USD	Annual
Total cash flows from financing activities	`NetCashProvidedByUsedInFinancingActivities`	$54.00K	USD	Annual
Total cash flows from financing activities	`NetCashProvidedByUsedInFinancingActivities`	$416.00K	USD	Annual
Total cash flows from financing activities	`NetCashProvidedByUsedInFinancingActivities`	$217.00K	USD	Annual
Mineral claims	`PaymentsToAcquireMineralRights`	$119.00K	USD	Annual
Proceeds from disposition of mineral property	`ProceedsFromSaleOfBuildings`	$142.00K	USD	Annual
Total cash flows from (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-119.00K	USD	Annual
Total cash flows from (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$142.00K	USD	Annual
Decrease in cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$-8.03M	USD	Annual
Decrease in cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$-4.82M	USD	Annual
Decrease in cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$-3.74M	USD	Annual
Effect of exchange rate on cash	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$-15.00K	USD	Annual
Effect of exchange rate on cash	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$4.00K	USD	Annual
Effect of exchange rate on cash	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$3.00K	USD	Annual
Cash - beginning of the year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$11.12M	USD	Point-in-time
Cash - beginning of the year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$6.31M	USD	Point-in-time
Cash - beginning of the year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$2.57M	USD	Point-in-time
Cash - beginning of the year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$19.17M	USD	Point-in-time
Cash - end of the year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$11.12M	USD	Point-in-time
Cash - end of the year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$6.31M	USD	Point-in-time
Cash - end of the year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$2.57M	USD	Point-in-time
Cash - end of the year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$19.17M	USD	Point-in-time

Stockholders Equity 20 line items

Line Item	Tag	Value	Unit	Period
Beginning Balance	`StockholdersEquity`	$183.81M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$145.43M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$18.26M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$166.04M	USD	Point-in-time
Exercise of options	`StockIssuedDuringPeriodValueStockOptionsExercised`	$416.00K	USD	Annual
Exercise of options	`StockIssuedDuringPeriodValueStockOptionsExercised`	$54.00K	USD	Annual
Exercise of options	`StockIssuedDuringPeriodValueStockOptionsExercised`	$217.00K	USD	Annual
Exercise of options (Shares)	`StockIssuedDuringPeriodSharesStockOptionsExercised`	81,674.00	shares	Annual
Joint venture contribution	`StockIssuedDuringPeriodValueJointVentureContributionsGross`	$51.00K	USD	Annual
Services settled by common shares	`StockIssuedDuringPeriodValueIssuedForServices`	$114.00K	USD	Annual
Stock-based compensation	`ShareBasedCompensation`	$-3.47M	USD	Annual
Stock-based compensation	`ShareBasedCompensation`	$-3.56M	USD	Annual
Stock-based compensation	`ShareBasedCompensation`	$-3.43M	USD	Annual
(Loss) earnings for the year	`NetIncomeLoss`	$161.77M	USD	Annual
(Loss) earnings for the year	`NetIncomeLoss`	$-24.26M	USD	Annual
(Loss) earnings for the year	`NetIncomeLoss`	$-21.66M	USD	Annual
Ending Balance	`StockholdersEquity`	$183.81M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$145.43M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$18.26M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$166.04M	USD	Point-in-time

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