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TMQ on NYSE

Trilogy Metals Inc.

Trilogy Metals Inc. is an exploration and development of the Upper Kobuk Mineral Projects.2 It is headquartered in Vancouver, Canada.2 Its shares trade on NYSE under the symbol TMQ.2

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Last updated Oct 21, 2026.

Overview

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  • TickerTMQ on NYSE2
  • IndustryGold and Silver Ores2
  • HeadquartersVancouver, Canada2
  • Incorporated inBritish Columbia, Canada3
  • Business address510 Burrard Street, Suite 901, Vancouver, A1 V6C 3B83
  • Filer categoryNon-accelerated filer, Smaller reporting company3
  • Legal formCorporation2
  • LEI52990084YC9OR0TUH2372
  • StatusActive2
  • LEI statusLapsed (not renewed)2
  • Registered addressSuite 1150, 609 Granville Street, V7Y 1G5 Vancouver, Canada2

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Our principal business is the exploration and development of the Upper Kobuk Mineral Projects (“Upper Kobuk Mineral Projects” or “UKMP” or “UKMP Projects”) located in the Ambler Mining District in Northwest Alaska, United States. The Upper Kobuk Mineral Projects are held by Ambler Metals LLC (“Ambler Metals”), a limited liability company owned equally by Trilogy and South32 Limited (“South32”), and is comprised of the (i) Arctic Project, which contains a high-grade polymetallic volcanogenic massive sulfide (“VMS”) deposit (“Arctic Project”); and (ii) Bornite Project, which contains a carbonate-hosted copper deposit (“Bornite Project”). Our goals include expanding mineral resources and advancing the UKMP Projects through technical, engineering and feasibility studies so that production decisions can be made on those projects. Our interest in Ambler Metals is held by a wholly-owned subsidi…5 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Financial statements

Net income678910-$42.2M in 2025+51% since 2019
-$100.0M0$100.0M$200.0M2019: -$27.9M-$27.9M20192020: $161.8M$161.8M20202021: -$21.7M-$21.7M20212022: -$24.3M-$24.3M2022+12%2023: -$15.0M-$15.0M2023−38%2024: -$8.6M-$8.6M2024−43%2025: -$42.2M-$42.2M2025+392%

Every line of the income statement as filed: the last 3 fiscal years, latest first.10

Period ending2025-11-302024-11-302023-11-30
Amortization$4.0K$8.0K
Exploration expenses$166.0K$36.0K$43.0K
Foreign exchange (gain) loss-$17.0K-$1.0K$5.0K
General and administrative$1.3M$1.2M$1.3M
Investor relations$161.0K$72.0K$130.0K
Professional fees$2.1M$923.0K$1.1M
Salaries$2.4M$927.0K$753.0K
Salaries and directors expense - stock-based compensation (note 7)$3.3M$3.5M$3.9M
Total expenses$9.4M$6.7M$7.2M
Interest and other income-$1.2M-$748.0K-$120.0K
Share of loss on equity investment (note 3(b))$11.4M$2.6M$7.8M
Loss on derivative carried at fair market value (note 6)$22.6M
Loss and comprehensive loss for the year-$42.2M-$8.6M-$15.0M
Basic loss per common share-$0.26-$0.05-$0.10
Diluted loss per common share-$0.26-$0.05-$0.10
Basic weighted average number of common shares outstanding164.8M shares159.8M shares152.6M shares
Diluted weighted average number of common shares outstanding164.8M shares159.8M shares152.6M shares

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Corporate structure

Trilogy Metals Inc. sits at the top of its group. 4 entities, 2 countries on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of Trilogy Metals Inc.

  • South32 Filed SCHEDULE 13G/A on Trilogy Metals Inc., latest Sep 1, 2026 (2 filings since May 16, 2023)
  • Electrum Group LLC Filed SCHEDULE 13D/A on Trilogy Metals Inc., latest Dec 29, 2025 (2 filings since Apr 26, 2023)
  • Tony Giardini Filed SCHEDULE 13D on Trilogy Metals Inc., latest Oct 27, 2025
  • BAUPOST GROUP LLC/MA Filed SC 13G/A on Trilogy Metals Inc., latest Feb 9, 2023 (3 filings since Feb 11, 2022)
  • Bernard T. Selz Filed SC 13G/A on Trilogy Metals Inc., latest Jan 12, 2023 (2 filings since Jan 12, 2022)
  • Trilogy Metals Inc. Vancouver, British Columbia, Canada
    • 995 Exploration Inc. Subsidiary · Delaware, United States
    • Ambler Metals LLC (50% owned by NovaCopper US Inc.) Subsidiary · Delaware, United States
    • NovaCopper US Inc. (dba Trilogy Metals US) Subsidiary · Delaware, United States

Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What Trilogy Metals Inc. reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Operating-lease assets (leased space)$117.0K10 Nov 30, 2025$155.0K10 Nov 30, 2024−24.5%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$51.6M10 Nov 30, 2025$25.8M10 Nov 30, 2024+99.8%
Stakes in other companies (equity method)$105.3M10 Nov 30, 2025$107.5M10 Nov 30, 2024−2.1%

Properties, in its own words

Trilogy’s principal business is the exploration and development of the Upper Kobuk Mineral Projects located in the Ambler Mining District in Northwest Alaska, United States. The Upper Kobuk Mineral Projects are held by Ambler Metals, a limited liability company owned equally by Trilogy and South32 Limited, and is comprised of the (i) Arctic Project, a development stage property, which contains a high-grade polymetallic volcanogenic massive sulfide deposit; and (ii) Bornite Project, an exploration stage property, which contains a carbonate-hosted copper deposit. Both projects are material to Trilogy and are described below under the headings “Arctic Project” and “Bornite Project”.

Except as otherwise stated, the scientific and technical information relating to the Arctic Project contained in this Form 10-K is derived from the 2023 S-K 1300 report for the Arctic Project titled “Arctic Project S-K 1300 Technical Report Summary, Ambler Mining District, Alaska” dated November 30, 2022 prepared by Ausenco Engineering Canada Inc., Wood Canada Limited, SRK Consulting (Canada) Inc. and Brown and Caldwell, each of whom are not affiliated with Trilogy (“S-K 1300 Arctic Report”).

The rest of Item 2

Except as otherwise stated, the scientific and technical information relating to the Bornite Project contained in this Form 10-K is derived from the 2024 S-K 1300 report for Bornite titled “S-K 1300 Technical Report Summary on the Initial Assessment of the Bornite Project, Northwest Alaska, USA” dated November 30, 2024 prepared by Wood Canada Limited, SRK Consulting (Canada) Inc., Ausenco Engineering Canada ULC. and International Metallurgical & Environmental and Core Geoscience LLC, which are each unaffiliated with Trilogy (“S-K 1300 Bornite Report”).

Mineral Resource Summary Table as of November 30, 2025

Project · Resource · Tonnage · Average Grade · Contained Metal Content

Alaska · Category · (Mt) · (%) · (%) · (%) · (g/t) · (g/t) · (Mlb) · (Mlb) · (Mlb) · (koz) · (Moz)

Arctic – 50% Attributable Interest · Inferred · 2.25 · 1.92 · 0.70 · 2.93 · 0.43 · 35.6 · 94.5 · 34.5 · 144 · 31 · 2.5

Bornite – 50% Attributable Interest · Inferred · 104.45 · 1.42 · 3,263.5

1. · A Qualified Person and an employee of the Company, has approved the mineral reserves and mineral resources included in this Annual Report on Form 10-K as of November 30, 2025 and reviewed the resources and material assumptions in the S-K 1300 Arctic Report and the S-K 1300 Bornite Report and confirmed that the resources and material assumptions remain current as of November 30, 2025.

2. · Mineral Resources were prepared in accordance with the standards and definitions of S-K 1300 and represent disclosure of Mineral Resources under S-K 1300 standards and definitions.

3. · The Mineral Resource estimate is reported exclusive of Mineral Reserves. There are no Mineral Reserves estimated on the Bornite property.

4. · Trilogy Metals’ 50% attributable interest is stated in the table.

5. · Figures may not sum due to rounding.

6. · The mineral resources are reported in place (point of reference).

Arctic Notes:

7. · Mineral Resources stated are contained within a conceptual pit shell developed using metal prices of $3.00/lb Cu, $0.90/lb Pb, $1.00/lb Zn, $1,300/oz Au and $18/oz Ag and metallurgical recoveries of 92% Cu, 77% Pb, 88% Zn, 63% Au and 56% Ag and operating costs of $3/t mining and $35/t process and general and administrative costs. The assumed average pit slope angle is 43º. The commodity pricing used a combination of two year trialing actual metal prices, and market research and bank analyst forward price projections, prepared in June 2020.

8. · As a result of flattening the north end of the reserve pit to stabilize the pit wall due to the presence of talc, a portion of the reserve pit extended beyond the resource constraining pit shell and a second pass of mineral resource tabulation was performed exterior to the constraining resource pit and interior to the constraining reserve pit which is included in the Mineral Resource tabulation.

9. · The cut-off grade is 0.5% copper equivalent: CuEq = (Cu% x 0.92) + (Zn% x 0.290) + (Pb% x 0.231) + (Au g/t x 0.398) + (Ag g/t x 0.005).

Bornite Notes:

10. · Mineral resources are constrained by: an open pit shell at a cut-off grade of 0.5% Cu, with an average pit slope of 43 degrees; and underground mining shapes assuming cut-and-fill mining method based on a 1.79% Cu grade shell for Ruby Zone and an optimized underground mineable stope shape assuming sublevel stoping mine method based on a break-even cut-off grade of 1.45% for South Reef. The cut-off grades assume a $4.60/lb Cu price, process recovery of 90.47%, process cost of $21.00/t processed, treatment, refining, sales cost of $0.78/lb Cu in concentrate, road use cost of $8.04/t processed, and 2% NSR royalty. For the open pit, costs include mining costs of $3.34/t mined and G&A cost of $4.30/t processed. For mining at South Reef, costs include mining costs of $65.00/t mined and G&A cost of $14.50/t processed. For mining at Ruby Zone, costs include mining costs of $90.00/t mined and G&A cost of $14.50/t processed. The long-term metal price forecast used a combination of information derived from 22 financial institutions, from pricing used in technical reports filed with Canadian regulatory authorities over the previous 12-month period from the effective date of the mineral resource estimate, from pricing reported by major mining companies in public filings such as annual reports, historical average pricing.

Mineral Reserve Estimate as of November 30, 2025 for the Arctic Project, Alaska USA

Classification · Tonnage · Average Grade

Mt · Cu (%) · Pb (%) · Zn (%) · Au (g/t) · Ag (g/t)

Probable Mineral Reserves – 50% Attributable Interest · 23.35 · 2.11 · 0.56 · 2.90 · 0.42 · 31.8

Item 2 of the 10-K filed Feb 17, 2026.5

Leadership

Who has led Trilogy Metals Inc., and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Nieuwenhuyse Rick Van2012–2018
  2. James Gowans2019
  3. Tony Giardini2020–now

President

  1. Nieuwenhuyse Rick Van2012–2018
  2. Tony Giardini2020–now

Chief financial officer

  1. Elaine Sanders2012–now
201520202025
Board members and other officers (15)

Named in SEC Form D filings

People the company listed in its private-offering notices.

  • Executive OfficerRichard Gosse named Jul 13, 202332

Subsidiaries and ownership

Subsidiaries (Exhibit 21)

  • 995 Exploration Inc. Delaware4
  • Ambler Metals LLC (50% owned by NovaCopper US Inc.) Delaware4
  • NovaCopper US Inc. (dba Trilogy Metals US) Delaware4

The subsidiaries the company lists in Exhibit 21 of its annual report, as filed.

Former names

  • NovaCopper Inc.Mar 1, 2012 to Sep 8, 20163

Timeline

  1. Oct 2, 20268-K Results of operations33
  2. Sep 21, 20268-K Regulation FD disclosure34
  3. Sep 14, 20268-K Entered a material agreement; Unregistered sale of shares; Regulation FD disclosure35
  4. Sep 10, 20268-K Regulation FD disclosure36
  5. Aug 31, 20268-K Entered a material agreement; Unregistered sale of shares; Regulation FD disclosure37
  6. Aug 4, 20268-K Regulation FD disclosure38
  7. Jul 16, 20268-K Regulation FD disclosure39
  8. Jul 8, 20268-K Results of operations40
  9. Jun 9, 20268-K Regulation FD disclosure41
  10. Jun 1, 20268-K Entered a material agreement; Regulation FD disclosure42
  11. May 15, 20268-K Regulation FD disclosure43
  12. May 14, 20268-K Shareholder vote; Regulation FD disclosure44
  13. Jun 2, 2020New chief executive Tony Giardini becomes CEO14
  14. Oct 23, 2019New chief executive James Gowans becomes CEO15
  15. Nov 30, 2012New chief executive Nieuwenhuyse Rick Van becomes CEO16

Calendar

Coming up

  1. Around Dec 27, 2026Next results, estimated About a quarter after its last report. The company hasn't announced the date.

When it reported results

  1. Oct 2, 2026Reported quarterly or annual results33
  2. Jul 8, 2026Reported quarterly or annual results40
  3. Apr 2, 2026Reported quarterly or annual results45
  4. Feb 17, 2026Reported quarterly or annual results46
  5. Oct 1, 2025Reported quarterly or annual results47
  6. Jul 10, 2025Reported quarterly or annual results48
  7. Apr 2, 2025Reported quarterly or annual results49
  8. Feb 14, 2025Reported quarterly or annual results50

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

368 filings to the SEC since October 2021: 5 annual reports, 16 quarterly reports, 89 major events, 224 insider forms, 10 large holders, 1 private raises, 23 other. The latest 20:

  1. Oct 2, 20268-K EDGAR
  2. Oct 2, 202610-Q EDGAR
  3. Sep 21, 20268-K EDGAR
  4. Sep 14, 20268-K EDGAR
  5. Sep 10, 20268-K EDGAR
  6. Sep 1, 20264 EDGAR
  7. Sep 1, 2026SCHEDULE 13G/A EDGAR
  8. Sep 1, 20264 EDGAR
  9. Aug 31, 20268-K EDGAR
  10. Aug 4, 20268-K EDGAR
  11. Jul 16, 20268-K EDGAR
  12. Jul 8, 20268-K EDGAR
  13. Jul 8, 202610-Q EDGAR
  14. Jun 9, 20268-K EDGAR
  15. Jun 1, 20268-K EDGAR
  16. Jun 1, 20264 EDGAR
  17. May 15, 20268-K EDGAR
  18. May 14, 20268-K EDGAR
  19. May 12, 20264 EDGAR
  20. May 7, 20268-K EDGAR

The 368 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

42 open-market trades by officers, directors and large owners since October 2021: 4 buys and 38 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Aug 28, 2026South32 International Investment Holdings Proprietary Ltd10% ownerSale8,215,570$2.17$17.8MForm 4
May 8, 2026Hensley William L. IggiagrukDirectorSale50,000$4.44$222.0KForm 4
Feb 26, 2026Hensley William L. IggiagrukDirectorSale25,107$4.40$110.5KForm 4
Dec 5, 2025Lang Gregory A.DirectorSale70,000$4.76$333.1KForm 4
Oct 16, 2025Gowans JamesDirectorSale100,000$7.50$750.0KForm 4
Oct 9, 2025Stairs JaniceDirectorSale50,613$6.56$332.0KForm 4
Oct 9, 2025Lang Gregory A.DirectorSale169,181$6.68$1.1MForm 4
Oct 9, 2025Hayden William BeckwithDirectorSale200,000$6.61$1.3MForm 4
Oct 8, 2025Hensley William L. IggiagrukDirectorSale100,000$6.39$639.0KForm 4
Oct 8, 2025WALTERS DIANA JDirectorSale100,000$7.03$703.0KForm 4
Oct 8, 2025Sanders ElaineVP & CFOSale449,599$6.85$3.1MForm 4
Oct 8, 2025Hayden William BeckwithDirectorSale64,294$7.06$453.9KForm 4
Jul 30, 2025Hensley William L. IggiagrukDirectorSale50,000$1.74$87.0KForm 4
Jun 5, 2024Sanders ElaineVP & CFOSale53,454$0.49$26.2KForm 4
Jun 4, 2024Sanders ElaineVP & CFOSale94,287$0.50$47.1KForm 4
Jun 3, 2024Sanders ElaineVP & CFOSale152,259$0.50$76.1KForm 4
Mar 8, 2024Sanders ElaineVP & CFOSale15,008$0.45$6.8KForm 4
Mar 7, 2024Sanders ElaineVP & CFOSale4,992$0.45$2.2KForm 4
Feb 21, 2024Sanders ElaineVP & CFOSale100$0.46$46Form 4
Feb 16, 2024Sanders ElaineVP & CFOSale358$0.46$165Form 4

All 42 trades can be filtered by person here when JavaScript is on.

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Executive pay

What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.

YearExecutiveAgeSalaryTotal pay
2025Tony Giardini,66$371.2K$1.8M56
2025Elaine SandersVice56$246.1K$970.1K56
2024President and Chief$381.5K$1.6M56
2023Executive Officer$385.0K$1.8M56
2023Financial Officer$255.2K$870.2K56

Funding

Where the company's money came from, by calendar year: private offerings filed with the SEC, federal grants, loans, contracts and other assistance from USAspending.gov, and PPP loans from the SBA. Each bar links to the records below.

Money received by year$3.2M 2023–2023
Money received by yearMoney received by year, 2023–2023: $3.2M in all. Private raises (Form D) $3.2M.$0$1M$2M$3M$4M2023 · Private raises (Form D): $3.2M2023
Figures by year
YearPrivate raises (Form D)Total
2023$3.2M$3.2M

Private raises

Private offerings the company reported to the SEC on Form D. The amount is what the latest filing says was sold so far, charted in the year of the first sale. Covers filings since Oct 1, 2021.

  1. Apr 25, 2023Raised $3.2 million in a private offering of equity32 Form D: 5 investors so far Form D

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
Electrum Group LLC31,604,741$110.9M3.3%No change
Tidal Investments LLC8,396,279$29.5M0.1%−1,536,918
TSP Capital Management Group, LLC6,777,100$23.8M5.7%New
Old West Investment Management, LLC6,092,657$21.4M2.3%+1,390,945
Goehring & Rozencwajg Associates, LLC1,775,530$6.2M0.4%+47,377
Alps Advisors Inc1,473,828$5.2M0.0%−386,915
Marshall Wace, Llp1,356,512$4.8M0.0%−272,375
Morgan Stanley936,338$3.3M0.0%+477,063
Envestnet Asset Management Inc908,869$3.2M0.0%−64,985
Point72 Asset Management, L.P.877,834$3.1M0.0%+534,793
Citadel Advisors LLC796,695$2.8M0.0%+488,004
BlackRock, Inc.489,510$1.7M0.0%+82,177
Toronto Dominion Bank410,036$1.4M0.0%+14,567
Goldman Sachs Group Inc403,701$1.4M0.0%−55,579
Moore Capital Management, LP391,599$1.4M0.0%New
Bank Of Montreal /can/328,040$1.1M0.0%+43,829
Private Advisor Group, LLC313,800$1.1M0.0%+110,000
State Street Corp308,258$1.1M0.0%+74,969
UBS Group AG285,288$1.0M0.0%+99,539
Manufacturers Life Insurance Company, The271,057$946.1K0.0%−3,385
Rockefeller Capital Management L.P.263,810$926.0K0.0%+12,844
Two Sigma Investments, LP244,070$856.7K0.0%−301,000
Swiss National Bank220,200$772.9K0.0%+8,100
TD Asset Management Inc172,461$602.9K0.0%+9,536
Mackenzie Financial Corp119,918$594.8K0.0%+10,568

13F reports cover disclosed long positions in U.S. stocks only.

SEC filer profile

How Trilogy Metals Inc. is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARTrilogy Metals Inc.1
  • CIK0001543418
  • Employer ID (EIN)98-10069915
  • Filer statusNon-accelerated filer not an emerging growth company; a smaller reporting company; not a shell company5
  • Incorporated inA15
  • Fiscal year endsNovember 301
  • Industry code (SIC)1040 Gold and Silver Ores1
  • SEC reviewing officeOffice of Energy & Transportation, Division of Corporation Finance1
  • Business address510 Burrard Street, Suite 901, Vancouver, A1 V6C 3B81
  • Phone(604) 638-80881
  • Shares outstanding181,361,209 as of Oct 2, 202612
  • Public float$120.8M as of May 31, 20255
  • AuditorPricewaterhouseCoopers LLP, Vancouver, Canada PCAOB ID 271; no auditor attestation of internal control over financial reporting5
  • On EDGAR sinceMar 1, 20121
  • Filings1,121 in all: 4 (633), 8-K (239), 10-Q (42), 3 (24), SC 13G/A (22), 6-K (21), DEF 14A (15), 10-K (14)1
    All 40 form types

    SC 13D/A (12), 4/A (11), S-8 (9), 3/A (8), DEFA14A (7), CORRESP (6), S-3/A (6), SC 13G (6), FWP (5), 424B5 (4), EFFECT (4), S-3 (4), UPLOAD (4), SC 13D (3), 8-K/A (2), D (2), DEFR14A (2), PRE 14A (2), 10-K/A (1), 10-Q/A (1), 40FR12B (1), 40FR12B/A (1), 424B2 (1), 424B3 (1), CERTNYS (1), DEFM14A (1), F-X (1), PREM14A (1), S-3ASR (1), SCHEDULE 13D (1), SCHEDULE 13D/A (1), SCHEDULE 13G/A (1)

  • Latest filingsAnnual report (10-K) Feb 17, 2026
    Quarterly report (10-Q) Oct 2, 2026
    Proxy statement (DEF 14A) Mar 27, 2026
    Latest 8-K (8-K) Oct 2, 2026

Securities registered for trading

ClassSymbolExchange
Common Shares, no par valueTMQNYSEAMER

From the cover page of the 10-K filed Feb 17, 2026 (Section 12(b) of the Exchange Act).5

Risk factors and legal proceedings

The risks Trilogy Metals Inc. names in Item 1A of its 10-K filed Feb 17, 2026: 34 risks under these headings, as written.5

  • Risks Related to the Company’s Mineral Properties
  • We may not have sufficient funds to develop our mineral projects or to complete further exploration programs.
  • Even if one of our mineral projects is determined to be economically viable to develop into a mine, such development may not be successful.
  • The Upper Kobuk Mineral Projects are located in a remote area of Alaska, and access to them is limited. Exploration and any future development or production activities may be limited and delayed by infrastructure challenges, inclement weather and a shortened exploration season.
  • We are dependent on a third party that participates in exploration and development of our Upper Kobuk Mineral Projects.
  • We have no history of production and no revenue from mining operations.
  • Changes in the market price of copper, zinc and other metals, which in the past have fluctuated widely, will affect our ability to finance continued exploration and development of our projects and affect our operations and financial condition.
  • Title and other rights to our properties may be subject to challenge.
  • We will incur losses for the foreseeable future.
  • High metal prices in past years have encouraged increased mining exploration, development and construction activity, which has increased demand for, and cost of, exploration, development and construction services and equipment.
  • Risks Relating to the Mining Industry and Mineral Reserves
  • Mineral resource and reserve calculations are only estimates.
The other 24 risks
  • Significant uncertainty exists related to inferred mineral resources.
  • Mining is inherently risky and subject to conditions or events beyond our control.
  • We cannot provide assurance that we will successfully acquire commercially mineable mineral rights.
  • Risks Relating to Government Regulation
  • We are subject to significant governmental regulations.
  • We require further permits in order to conduct current and anticipated future operations, and delays in obtaining or failure to obtain such permits, or a failure to comply with the terms of any such permits that we have obtained, would adversely affect our business.
  • Our activities are subject to environmental laws and regulations that may increase our costs and restrict our operations.
  • Land reclamation requirements for our exploration properties may be burdensome.
  • Risks Related to the Acquisition of New Projects
  • Risks inherent in acquisitions of new properties.
  • We face industry competition in the acquisition of exploration properties and the recruitment and retention of qualified personnel.
  • Risks Related to the Company’s Executive Officers and Board of Directors
  • We may experience difficulty attracting and retaining qualified management and technical personnel to grow our business.
  • Some of our directors and officers have conflicts of interest as a result of their involvement with other natural resource companies.
  • General Risk Factors
  • General economic conditions may adversely affect our growth, future profitability and ability to finance.
  • Future sales or issuances of equity securities could decrease the value of any existing Common Shares, dilute investors’ voting power and reduce our earnings per share.
  • Our largest shareholder has significant influence on us and may also affect the market price and liquidity of the securities.
  • Our Common Shares are subject to various factors that have historically made share prices volatile.
  • We do not intend to pay any cash dividends in the foreseeable future.
  • The consummation of the transactions contemplated by the binding letter of intent with the U.S. Government and the U.S. Government’s ownership of significant equity interests in the Company may subject the Company and it stockholders to a number of additional risks and uncertainties, any of which could have a material adverse effect on the Company’s business, financial condition and results of operations or adversely impact the interests of our other shareholders.
  • We may be a “passive foreign investment company” for our current and future tax years, which may have adverse U.S. federal income tax consequences for U.S. Holders.
  • Proposed legislation in the U.S. Congress, including changes in U.S. tax law may adversely impact us and the value of our Common Shares.
  • Global climate change is an international concern and could impact our ability to conduct future operations.
  • Adverse publicity from non-governmental organizations could have a material adverse effect on us.
  • We may fail to achieve and maintain the adequacy of our internal control over financial reporting as per the requirements of the Sarbanes-Oxley Act.
  • Changes in U.S. laws and policies regulating international trade may adversely impact the Company.
  • In the future, we may be subject to legal proceedings.

Legal proceedings

From time to time, we are a party to routine litigation and proceedings that are considered part of the ordinary course of business. We are not aware of any material current, pending, or threatened litigation. There are no material proceedings pursuant to which any of our directors, officers or affiliates or any owner of record or beneficial owner of more than 5% of our securities or any associate of any such director, officer or security holder is a party adverse to us or has a material interest adverse to us.

While we are not a party to the legal proceedings relating to the Ambler Access Road, for more information regarding legal proceedings related to the Ambler Access Road please see “Management’s Discussion and Analysis - Ambler Mining District Industrial Access Project (“AMDIAP” or “Ambler Access Project”).

The opening of Item 3, Legal Proceedings.5

Sources

The numbers on this page point here. Each one links to the record it came from.

  1. 1
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