Trilogy Metals Provides Update On Ambler Access Project

Author: Akanksha Bakshi | April 05, 2022 03:41pm

• Trilogy Metals Inc. (TSX:TMQ) (AMEX: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 (OTC: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.

Posted In: SOUHY TMQ TSX:TMQ