11:43 AM EDT, 07/10/2025 (MT Newswires) -- Trilogy Metals ( TMQ ) on Thursday said its fiscal second-quarter loss widened due to higher regulatory expenses and legal fees related to its base shelf prospectus and at-the-market equity program.

The company said it lost US$2.18 million, or US$0.01 per share, in the quarter ended May 31, compared with a loss of US$1.76 million, or US$0.01, in the year-prior period.

As of May 31, the company had cash on hand of US$24.6 million and working capital of US$23.8 million. The company said its current cash position is enough to meet working capital requirements for the next 12 months.

Trilogy has an effective base shelf prospectus that allows for the future issuance of up to US$50 million in securities. An ATM program was also established to offer and sell up to US$25 million in common shares.

Proceeds of any sales under the ATM program will be used for development of the Upper Kobuk mineral projects and for general corporate purposes.

Trilogy's share price at last look Thursday were up $0.26 to $2.34 on the Toronto Stock Exchange.

Price: 2.34, Change: +0.26, Percent Change: +12.50