Entering text into the input field will update the search result below

Trilogy Metals: Ambler Access Project Goes Under Review


  • The US Department of the Interior filed a motion to remand the FEIS for the Ambler Access Project while also seeking to suspend the right-of-way permits.
  • This does not end hope of the project progressing under the current administration, although there is significant uncertainty now.
  • A change in administration would likely result in the project progressing again as well.
  • The Arctic Mine's estimated after-tax NPV8 (100% basis) is now approaching $3 billion at spot prices.
  • Trilogy appears to be a high-risk, high-reward stock.
  • Looking for more investing ideas like this one? Get them exclusively at Distressed Value Investing. Learn More »

Native Copper

Mara Fribus/iStock via Getty Images

Trilogy Metals (NYSE:TMQ) suffered a significant blow with the Biden administration's decision to review the Ambler Access Project. The US Department of the Interior [DOI] has filed a motion to remand the Final Environmental Impact

Free Trial Offer

We are currently offering a free two-week trial to Distressed Value Investing. Join our community to receive exclusive research about various companies and other opportunities along with full access to my portfolio of historic research that now includes over 1,000 reports on over 100 companies.

This article was written by

Elephant Analytics profile picture
Aaron Chow, aka Elephant Analytics has 15+ years of analytical experience and is a top rated analyst on TipRanks. Aaron previously co-founded a mobile gaming company (Absolute Games) that was acquired by PENN Entertainment. He used his analytical and modeling skills to design the in-game economic models for two mobile apps with over 30 million in combined installs. He is the author of the investing group Distressed Value Investing, which focuses on both value opportunities and distressed plays, with a significant focus on the energy sector. Learn more>>

Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

Recommended For You

Comments (7)

boognest profile picture
Nice report, appreciate your research and write up on trilogy.
goldbug58 profile picture
US govt wants (needs) strategic metals but doesn't want the mines; can't have both options.
Austin Craig profile picture
Thx for the update.

Was I mistaken on how much cash the project has? I knew the company has 4-5 million but did the project have its own cash set aside?
Elephant Analytics profile picture
@Austin Craig

I believe the JV Ambler Metals has $58.2 million in cash plus a $53.2 million loan receivable from South32.

The original 2022 budget for related activities was $44 million, so the JV seems to have funding into 2024 at that expenditure rate.
@Elephant Analytics I bought at 1.87 in June 2020 when I saw that Baupost had a small position but they've been gradually selling it down and now have 10.5mm shares. I'm holding for now. Were you a shareholder before the Biden review and suspend decisions?
monkey's uncle profile picture
Thanks for the update. It's an interesting saga.
Disagree with this article? Submit your own. To report a factual error in this article, . Your feedback matters to us!

About TMQ

SymbolLast Price% Chg
Market Cap
Yield (TTM)
Rev Growth (YoY)
Short Interest
Prev. Close
Compare to Peers

More on TMQ

Related Stocks

SymbolLast Price% Chg
To ensure this doesn’t happen in the future, please enable Javascript and cookies in your browser.
Is this happening to you frequently? Please report it on our feedback forum.
If you have an ad-blocker enabled you may be blocked from proceeding. Please disable your ad-blocker and refresh.