10-K Filing

Trilogy Metals Inc. CIK: 1543418 FY 2023

Filing Information

Form Type	10-K
Accession Number	`0001558370-24-000914`
Period End Date	20231130
Filing Date	20240209
Fiscal Year	2023
Fiscal Period	FY
XBRL Instance	tmq-20231130x10k_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 46 Income Statement 51 Cash Flow Statement 58 Stockholders Equity 21

Balance Sheet 46 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`	146.23M	shares	Point-in-time
Cash	`Cash`	$2.57M	USD	Point-in-time
Common Stock, Shares, Issued	`CommonStockSharesIssued`	155.93M	shares	Point-in-time
Cash	`Cash`	$2.59M	USD	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$17.00K	USD	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$33.00K	USD	Point-in-time
Deposits and prepaid amounts	`PrepaidExpenseCurrent`	$259.00K	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`	$2.88M	USD	Point-in-time
Investment in Ambler Metals LLC (note 3)	`EquityMethodInvestments`	$135.02M	USD	Point-in-time
Investment in Ambler Metals LLC (note 3)	`EquityMethodInvestments`	$142.75M	USD	Point-in-time
Fixed assets	`PropertyPlantAndEquipmentNet`	$12.00K	USD	Point-in-time
Fixed assets	`PropertyPlantAndEquipmentNet`	$4.00K	USD	Point-in-time
Right of use asset (note 5(a))	`OperatingLeaseRightOfUseAsset`	$319.00K	USD	Point-in-time
Right of use asset (note 5(a))	`OperatingLeaseRightOfUseAsset`	$482.00K	USD	Point-in-time
Right of use asset (note 5(a))	`OperatingLeaseRightOfUseAsset`	$113.00K	USD	Point-in-time
Total assets	`Assets`	$138.02M	USD	Point-in-time
Total assets	`Assets`	$146.00M	USD	Point-in-time
Accounts payable and accrued liabilities (note 4)	`AccountsPayableAndAccruedLiabilitiesCurrent`	$432.00K	USD	Point-in-time
Accounts payable and accrued liabilities (note 4)	`AccountsPayableAndAccruedLiabilitiesCurrent`	$345.00K	USD	Point-in-time
Current portion of lease liability	`OperatingLeaseLiabilityCurrent`	$189.00K	USD	Point-in-time
Current portion of lease liability	`OperatingLeaseLiabilityCurrent`	$33.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$534.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$465.00K	USD	Point-in-time
Long-term portion of lease liability	`OperatingLeaseLiabilityNoncurrent`	$33.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$465.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$567.00K	USD	Point-in-time
Share capital (note 8) - unlimited common shares authorized, no par value issued - 155,925,990 (2022 - 145,868,502)	`CommonStockValue`	$182.18M	USD	Point-in-time
Share capital (note 8) - unlimited common shares authorized, no par value issued - 155,925,990 (2022 - 145,868,502)	`CommonStockValue`	$187.89M	USD	Point-in-time
Contributed surplus	`ContributedSurplus`	$122.00K	USD	Point-in-time
Contributed surplus	`ContributedSurplus`	$118.00K	USD	Point-in-time
Contributed surplus - options (note 6(b))	`AdditionalPaidInCapital`	$28.24M	USD	Point-in-time
Contributed surplus - options (note 6(b))	`AdditionalPaidInCapital`	$27.35M	USD	Point-in-time
Contributed surplus - units (note 6(c))	`ContributedSurplusUnits`	$3.13M	USD	Point-in-time
Contributed surplus - units (note 6(c))	`ContributedSurplusUnits`	$2.64M	USD	Point-in-time
Deficit	`RetainedEarningsAccumulatedDeficit`	$-66.86M	USD	Point-in-time
Deficit	`RetainedEarningsAccumulatedDeficit`	$-81.81M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$166.04M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$145.43M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$183.81M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$137.56M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$138.02M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$146.00M	USD	Point-in-time

Income Statement 51 line items

Line Item	Tag	Value	Unit	Period
Amortization	`DepreciationAndAmortization`	$21.00K	USD	Annual
Amortization	`DepreciationAndAmortization`	$17.00K	USD	Annual
Amortization	`DepreciationAndAmortization`	$8.00K	USD	Annual
Exploration expenses	`ExplorationExpense`	$143.00K	USD	Annual
Exploration expenses	`ExplorationExpense`	$43.00K	USD	Annual
Exploration expenses	`ExplorationExpense`	$47.00K	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`	$-5.00K	USD	Annual
General and administrative	`GeneralAndAdministrativeExpense`	$1.52M	USD	Annual
General and administrative	`GeneralAndAdministrativeExpense`	$1.29M	USD	Annual
General and administrative	`GeneralAndAdministrativeExpense`	$1.33M	USD	Annual
Investor relations	`BusinessDevelopment`	$602.00K	USD	Annual
Investor relations	`BusinessDevelopment`	$183.00K	USD	Annual
Investor relations	`BusinessDevelopment`	$130.00K	USD	Annual
Professional fees	`ProfessionalFees`	$1.07M	USD	Annual
Professional fees	`ProfessionalFees`	$818.00K	USD	Annual
Professional fees	`ProfessionalFees`	$998.00K	USD	Annual
Salaries	`SalariesAndWages`	$2.01M	USD	Annual
Salaries	`SalariesAndWages`	$984.00K	USD	Annual
Salaries	`SalariesAndWages`	$753.00K	USD	Annual
Salaries and directors expense - stock-based compensation	`EmployeeBenefitsAndShareBasedCompensationNoncash`	$3.89M	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	`CostsAndExpenses`	$6.92M	USD	Annual
Total expenses	`CostsAndExpenses`	$8.62M	USD	Annual
Total expenses	`CostsAndExpenses`	$7.23M	USD	Annual
Gain on disposition of mineral property	`GainLossOnDispositionOfAssets`	$84.00K	USD	Annual
Interest and other income	`InterestAndOtherIncome`	$120.00K	USD	Annual
Interest and other income	`InterestAndOtherIncome`	$16.00K	USD	Annual
Interest and other income	`InterestAndOtherIncome`	$34.00K	USD	Annual
Services agreement income	`ServiceAgreementIncome`	$22.00K	USD	Annual
Share of loss on equity investment (note 3(b))	`IncomeLossFromEquityMethodInvestments`	$-7.84M	USD	Annual
Share of loss on equity investment (note 3(b))	`IncomeLossFromEquityMethodInvestments`	$-17.36M	USD	Annual
Share of loss on equity investment (note 3(b))	`IncomeLossFromEquityMethodInvestments`	$-13.08M	USD	Annual
Write off mineral properties	`WriteOffMineralProperties`	$90.00K	USD	Annual
Loss and comprehensive loss for the year	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$-14.95M	USD	Annual
Loss and comprehensive loss for the year	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$-24.26M	USD	Annual
Loss and comprehensive loss for the year	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$-21.66M	USD	Annual
Basic loss per common share	`EarningsPerShareBasic`	$-0.10	USD	Annual
Basic loss per common share	`EarningsPerShareBasic`	$-0.17	USD	Annual
Basic loss per common share	`EarningsPerShareBasic`	$-0.15	USD	Annual
Diluted loss per common share	`EarningsPerShareDiluted`	$-0.10	USD	Annual
Diluted loss per common share	`EarningsPerShareDiluted`	$-0.17	USD	Annual
Diluted loss per common share	`EarningsPerShareDiluted`	$-0.15	USD	Annual
Basic weighted average number of common shares outstanding	`WeightedAverageNumberOfSharesOutstandingBasic`	144.43M	shares	Annual
Basic weighted average number of common shares outstanding	`WeightedAverageNumberOfSharesOutstandingBasic`	152.65M	shares	Annual
Basic weighted average number of common shares outstanding	`WeightedAverageNumberOfSharesOutstandingBasic`	145.72M	shares	Annual
Diluted weighted average number of common shares outstanding	`WeightedAverageNumberOfDilutedSharesOutstanding`	145.72M	shares	Annual
Diluted weighted average number of common shares outstanding	`WeightedAverageNumberOfDilutedSharesOutstanding`	152.65M	shares	Annual
Diluted weighted average number of common shares outstanding	`WeightedAverageNumberOfDilutedSharesOutstanding`	144.43M	shares	Annual

Cash Flow Statement 58 line items

Line Item	Tag	Value	Unit	Period
Net Income (Loss)	`NetIncomeLoss`	$-14.95M	USD	Annual
Net Income (Loss)	`NetIncomeLoss`	$-24.26M	USD	Annual
Net Income (Loss)	`NetIncomeLoss`	$-21.66M	USD	Annual
Amortization	`AdjustmentForAmortization`	$17.00K	USD	Annual
Amortization	`AdjustmentForAmortization`	$21.00K	USD	Annual
Amortization	`AdjustmentForAmortization`	$8.00K	USD	Annual
Unpaid interest earned	`UnpaidInterestEarned`	$-23.00K	USD	Annual
Consulting fees settled by common shares	`RestrictedStockExpense`	$114.00K	USD	Annual
Consulting fees settled by common shares	`RestrictedStockExpense`	$116.00K	USD	Annual
Office lease accounting	`IncreaseDecreaseInOfficeLeasePayments`	$15.00K	USD	Annual
Office lease accounting	`IncreaseDecreaseInOfficeLeasePayments`	$16.00K	USD	Annual
Office lease accounting	`IncreaseDecreaseInOfficeLeasePayments`	$-17.00K	USD	Annual
Gain on disposal of mineral property	`GainLossOnDispositionOfAssets`	$84.00K	USD	Annual
Loss on equity investment in Ambler Metals LLC (note 3(b))	`IncomeLossFromEquityMethodInvestments`	$-7.84M	USD	Annual
Loss on equity investment in Ambler Metals LLC (note 3(b))	`IncomeLossFromEquityMethodInvestments`	$-17.36M	USD	Annual
Loss on equity investment in Ambler Metals LLC (note 3(b))	`IncomeLossFromEquityMethodInvestments`	$-13.08M	USD	Annual
Unrealized foreign exchange loss (gain)	`ForeignCurrencyTransactionGainLossUnrealized`	$-5.00K	USD	Annual
Unrealized foreign exchange loss (gain)	`ForeignCurrencyTransactionGainLossUnrealized`	$-10.00K	USD	Annual
Unrealized foreign exchange loss (gain)	`ForeignCurrencyTransactionGainLossUnrealized`	$18.00K	USD	Annual
Stock-based compensation	`AllocatedShareBasedCompensationExpense`	$3.43M	USD	Annual
Stock-based compensation	`AllocatedShareBasedCompensationExpense`	$3.47M	USD	Annual
Stock-based compensation	`AllocatedShareBasedCompensationExpense`	$3.89M	USD	Annual
Write off mineral properties	`ImpairmentOfLongLivedAssetsToBeDisposedOf`	$90.00K	USD	Annual
Decrease in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-2.00K	USD	Annual
Decrease in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-7.00K	USD	Annual
Decrease in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-110.00K	USD	Annual
Decrease (Increase) in deposits and prepaid amounts	`IncreaseDecreaseInPrepaidExpense`	$101.00K	USD	Annual
Decrease (Increase) in deposits and prepaid amounts	`IncreaseDecreaseInPrepaidExpense`	$-61.00K	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`	$-506.00K	USD	Annual
Decrease in accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-64.00K	USD	Annual
Total cash flows used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-3.09M	USD	Annual
Total cash flows used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-5.12M	USD	Annual
Total cash flows used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-3.94M	USD	Annual
Issuance of common shares, net of share issue cost (note 6(a))	`ProceedsFromIssuanceOfPrivatePlacement`	$3.12M	USD	Annual
Proceeds from exercise of options	`ProceedsFromStockOptionsExercised`	$416.00K	USD	Annual
Proceeds from exercise of options	`ProceedsFromStockOptionsExercised`	$54.00K	USD	Annual
Total cash flows from financing activities	`NetCashProvidedByUsedInFinancingActivities`	$3.12M	USD	Annual
Total cash flows from financing activities	`NetCashProvidedByUsedInFinancingActivities`	$54.00K	USD	Annual
Total cash flows from financing activities	`NetCashProvidedByUsedInFinancingActivities`	$416.00K	USD	Annual
Proceeds from disposition of mineral property	`ProceedsFromSaleOfBuildings`	$142.00K	USD	Annual
Total cash flows from (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$142.00K	USD	Annual
Total cash flows from (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-119.00K	USD	Annual
Increase (decrease) in cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$-3.74M	USD	Annual
Increase (decrease) in cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$-4.82M	USD	Annual
Increase (decrease) in cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$22.00K	USD	Annual
Effect of exchange rate on cash	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$-5.00K	USD	Annual
Effect of exchange rate on cash	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$3.00K	USD	Annual
Effect of exchange rate on cash	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$4.00K	USD	Annual
Cash - beginning of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$11.12M	USD	Point-in-time
Cash - beginning of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$2.57M	USD	Point-in-time
Cash - beginning of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$6.31M	USD	Point-in-time
Cash - beginning of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$2.59M	USD	Point-in-time
Cash - end of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$11.12M	USD	Point-in-time
Cash - end of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$2.57M	USD	Point-in-time
Cash - end of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$6.31M	USD	Point-in-time
Cash - end of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$2.59M	USD	Point-in-time

Stockholders Equity 21 line items

Line Item	Tag	Value	Unit	Period
Beginning Balance	`StockholdersEquity`	$166.04M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$145.43M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$183.81M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$137.56M	USD	Point-in-time
Shares issued for private placement, net of share issue cost	`StockIssuedDuringPeriodValueNewIssues`	$3.12M	USD	Annual
Exercise of options	`StockIssuedDuringPeriodValueStockOptionsExercised`	$416.00K	USD	Annual
Exercise of options	`StockIssuedDuringPeriodValueStockOptionsExercised`	$54.00K	USD	Annual
Joint venture contribution	`StockIssuedDuringPeriodValueJointVentureContributionsGross`	$111.00K	USD	Annual
Joint venture contribution	`StockIssuedDuringPeriodValueJointVentureContributionsGross`	$51.00K	USD	Annual
Services settled by common shares	`StockIssuedDuringPeriodValueIssuedForServices`	$99.00K	USD	Annual
Services settled by common shares	`StockIssuedDuringPeriodValueIssuedForServices`	$114.00K	USD	Annual
Stock-based compensation	`ShareBasedCompensation`	$-3.47M	USD	Annual
Stock-based compensation	`ShareBasedCompensation`	$-3.43M	USD	Annual
Stock-based compensation	`ShareBasedCompensation`	$-3.75M	USD	Annual
Earnings (loss) for the year	`NetIncomeLoss`	$-14.95M	USD	Annual
Earnings (loss) for the year	`NetIncomeLoss`	$-24.26M	USD	Annual
Earnings (loss) for the year	`NetIncomeLoss`	$-21.66M	USD	Annual
Ending Balance	`StockholdersEquity`	$166.04M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$145.43M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$183.81M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$137.56M	USD	Point-in-time

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