Trilogy Metals Provides Update On Ambler Access Project

Trilogy Metals Inc. TMQ TMQ welcomed President Biden's recent statement on invoking the Defense Production Act.
The company noted DPA is a bold move to boost domestic metal output in the U.S., including cobalt, nickel, lithium, manganese, and graphite.
DPA ensures the private sector has the necessary resources to defend national security and face emergencies.
Update on the Ambler Access Project: The AAP is the proposed 211-mile industrial-use-only road that would link the UKMP in Northwestern Alaska to the Dalton Highway.
The U.S. Department of the Interior (DOI) filed a motion on February 22, 2022, to remand the Final Environmental Impact Statement (FEIS) and suspend the AAP's right-of-way licenses.
The Intervenor Defendants submitted motions in response to the DOI's Voluntary Remand Motion on March 22, 2022. Ambler Metals, a JV operating business owned equally by Trilogy and South32 Ltd SOUHY, does not oppose the Voluntary Remand Motion subject to a few conditions.
Trilogy expects the DOI and the U.S. Department of Justice to prepare and submit their response brief to the U.S. District Court, which will subsequently decide on the motion for a remand.
Price Action: TMQ shares are trading higher by 13.3% at $1.28 on the last check Tuesday.