Overview

• The White House committed $35.6 million for a 10% equity stake in Trilogy Metals, with warrants to buy an additional 7.5%.
• President Trump signed an executive order and federal agencies issued permits to advance the 211-mile Ambler Road to the Ambler Mining District.
• Trilogy Metals shares surged as much as about 250% in premarket trading after jumping roughly 127% after hours.
• The order characterizes the district as one of the largest undeveloped copper‑zinc belts, projecting access to more than 1,700 claims, 2,730 construction jobs, and over $1.1 billion in Alaska license‑tax revenue.
• The approvals reverse a Biden‑era rejection that cited risks to Tribal subsistence, at‑risk wildlife, and permafrost, aligning with recent federal stakes in MP Materials and Lithium Americas to bolster supply chains.