Date: Apr 23, 2018

South32 now owns one-eighth of Trilogy Metals after investing further in the Canadian exploration company as part of a bought deal financing.

Trilogy, which is exploring and developing assets in the Ambler Mining District of Alaska, closed the $US28.7 million ($37.4 million) raising last week.

South32 took 40 per cent, or $11.5 million, of the shares on offer to increase its stake in Trilogy from 6.1 per cent to 12.5 per cent.