Trilogy Metals Soars After Defense Department Agrees to Invest $35.6 Million

Trilogy Metals shares surged after the Defense Department agreed to buy a 10% stake in the company for $35.6 million. The investment will support the development of critical mineral resources at the Upper Kobuk Mineral Projects in Alaska. The stock almost tripled in premarket trading and has risen 80% so far this year.

Trilogy Metals Inc. (TMQ) stock experienced a significant surge in premarket trading on September 12, 2025, following news that the Defense Department agreed to purchase a 10% stake in the company for $35.6 million. The investment is aimed at supporting the development of critical mineral resources at the Upper Kobuk Mineral Projects in Alaska. The stock almost tripled in premarket trading, closing at $6.14 after opening at $2.09, and has risen 80% so far this year Trilogy Metals Inc. (TMQ) Stock: Soars 193% Pre-Market After U.S. Department of War Announces $35.6M Investment^[1].

The agreement, which includes a call option for the Defense Department to buy more shares from South32 once a controversial 211-mile access road to the minerals-rich Ambler region is built, reflects growing federal support for resource security and infrastructure expansion in Alaska. Trilogy Metals and South32 will channel the funds into their 50/50 joint venture, Ambler Metals Trilogy Metals Inc. (TMQ) Stock: Soars 193% Pre-Market After U.S. Department of War Announces $35.6M Investment^[1].

The Upper Kobuk Mineral Projects, which include Arctic and Bornite deposits, hold substantial copper, zinc, and cobalt reserves critical for technology and renewable energy industries. The collaboration aims to accelerate exploration, permitting, and future mining operations within the Ambler Mining District. The Defense Department will receive an approximate 10% ownership stake in Trilogy Metals Inc. under the terms of the agreement Trilogy Metals Inc. (TMQ) Stock: Soars 193% Pre-Market After U.S. Department of War Announces $35.6M Investment^[1].

The transaction still requires regulatory and stock exchange approvals. Trilogy Metals Inc. expects to finalize the deal after the Defense Production Act is reauthorized and government reviews conclude. If completed, this partnership could transform the company’s position in the North American critical minerals market Trilogy Metals Inc. (TMQ) Stock: Soars 193% Pre-Market After U.S. Department of War Announces $35.6M Investment^[1].