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Trilogy Metals Announces the Completion of the Joint Venture Formation with South32 Limited - Ambler Metals LLC
Trilogy Metals Announces the Completion of the Joint Venture Formation with South32 Limite...
About this update from Trilogy Metals Inc.
[{"type":"text","content":"\n\n\n\nTrilogy Metals Announces the Completion of the Joint Venture Formation with South32 Limited - Ambler Metals LLC\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nVANCOUVER, Feb. 11, 2020\n\n\n\nVANCOUVER, Feb. 11, 2020 /CNW/ - Trilogy Metals Inc. (TSX/NYSE American: TMQ) (\"Trilogy\" or the \"Company\") is pleased to announce the completion of the formation of a 50/50 joint venture with South32 Limited (ASX, LSE, JSE: S32; ADR: SOUHY) (\"South32\").  The joint venture company is named Ambler Metals LLC (\"Ambler Metals\").  \nJoint Venture Structure\nAs part of the formation of the joint venture, Trilogy contributed all of its assets associated with the 172,675-hectare Upper Kobuk Mineral Projects (\"UKMP\"), including the Arctic and Bornite projects, while South32 contributed US$145 million, resulting in each party owning a 50% interest in Ambler Metals. The funds will be used to advance the Arctic and Bornite projects, along with exploration in the Ambler mining district.\nAmbler Metals is an independently operated company controlled by Trilogy and South32 through a four member Board of Directors. Trilogy has appointed James (Jim) Gowans, Interim President and Chief Executive Officer and a Director of Trilogy and Kalidas Madhavpeddi, a Director of Trilogy, to the Ambler Metals Board. South32 has appointed Simon Collins, Chief Development Officer of South32 and Pat Risner, President of South32's Hermosa Project, to the Ambler Metals Board.  The current ownership structure of Ambler Metals is set forth below.\n\nAmbler Metals Board Members\nThe joint venture is controlled by an experienced team of respected and talented individuals.  Messers Collins, Gowans, Madhavpeddi and Risner each have extensive careers in the mining industry and collectively, they have worked all over the world and on various commodities.  \nSimon Collins: Mr. Collins is the Chief Development Officer of South32 based in Vancouver. Prior to this role, Mr. Collins was Head of Corporate Development of South32.  He brings over 25 years' experience ...