TMQ on NYSE

Trilogy Metals Inc.

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.4 From its latest annual report

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Last updated Oct 19, 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…4 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 income56789-$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.9

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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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, 202331

Former names

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

Timeline

  1. Jun 2, 2020New chief executive Tony Giardini becomes CEO13
  2. Oct 23, 2019New chief executive James Gowans becomes CEO14
  3. Nov 30, 2012New chief executive Nieuwenhuyse Rick Van becomes CEO15

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.

Money raised

Private offerings the company reported to the SEC on Form D.

  1. Apr 25, 2023Raised $3.2 million in a private offering of equity 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.

Sources

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