Trilogy Metals Inc (AMEX:TMQ) shares are soaring in Monday’s after-hours session after the White House announced plans to take a 10% stake in the company.
TMQ shares are consolidating after recent moves. Get the details here.
What To Know: President Donald Trump signed an executive order on Monday to provide road transportation access to the Ambler Mining District to unlock access to critical minerals in Alaska.
The U.S. government will also invest $35.6 million in Trilogy Metals to support mining exploration in the district. The government will acquire a 10% stake in the company through the investment, which includes warrants to purchase an additional 7.5% of Trilogy Metals.
“An access road is crucial to unlocking critical minerals located in this currently-inaccessible area of Alaska, which has been characterized as one of the largest undeveloped copper-zinc mineral belts in the world and contains extensive deposits of copper, silver, gold, lead, cobalt and other strategic metals,” the executive order states.
The road will provide transportation access for more than 1,700 active mining claims in the district. Construction of the road is expected to support 2,730 jobs. Once completed, the road is expected to drive more than $1.1 billion in revenue from license taxes for Alaska.
The Trilogy Metals investment comes after the Trump administration announced stakes in MP Materials and Lithium Americas to shore up the domestic supply chain for critical metals used in multiple industries.
How To Buy TMQ Stock
Besides going to a brokerage platform to purchase a share — or fractional share — of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument.
For Trilogy Metals, it is in the Materials sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.
TMQ Price Action: Trilogy Metals shares were up 127.27% in after-hours Monday, trading at $4.75 at the time of publication. Trilogy Metals had a market cap of approximately $341.77 million as of Monday’s close, according to Benzinga Pro.
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