| | | Trilogy Metals skyrockets as Trump administration takes 10% stake, OK's Alaska road project
Oct. 06, 2025 5:43 PM ET
By: Carl Surran, SA News Editor
Trilogy Metals (NYSE: TMQ) +135.9% post-market Monday after the Trump administration said it reversed a Biden-era decision blocking the construction of the Ambler Road project in Alaska and will invest $35.6 million to support mining exploration in the state's Ambler Mining District, making the U.S. government a 10% shareholder in the company with warrants to purchase an additional 7.5% stake.
The Ambler Road project is a 211-mile road from the Dalton Highway to the remote mining district aimed at making it easier to access deposits of copper, cobalt, gallium, germanium and other minerals; the Biden administration had rejected the road, citing risks to caribou and fish populations.
The decision directs the Bureau of Land Management, National Park Service, and U.S. Army Corps of Engineers to reissue necessary permits to construct the road.
Trilogy Metals (NYSE: TMQ) said the federal government intends to invest ~$17.8 million in the company in exchange for 8,215,570 units at $2.17/unit, with each unit comprising one common share and three-fourths of a 10-year warrant, which would be exercisable following completion of construction of the Ambler Road project.
"This was something that should have been long operating and making billions of dollars for our country and supplying a lot of energy and minerals and everything else," Trump said during an event in the Oval Office. |
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