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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended 49 Months Ended
May. 31, 2015
May. 31, 2014
May. 31, 2015
May. 31, 2014
May. 31, 2015
Cash flows used in operating activities          
Loss for the period $ (1,750) $ (2,093) $ (3,280) $ (4,707) $ (100,650)
Items not affecting cash          
Amortization 93 208 236 466 3,091
Accretion 0 0 0 0 2,530
Loss on disposal of equipment 0 0 0 0 7
Issuance of shares as compensation 0 0 0 0 316
Stock-based compensation 89 135 371 251 20,006
Net change in non-cash working capital          
Decrease (increase) in accounts receivable (47) (112) 72 (163) (104)
Decrease (increase) in deposits and prepaid amounts (177) (165) (25) (32) (587)
Increase (decrease) in accounts payable and accrued liabilities 536 (254) 301 (232) 1,303
Net Cash Provided by (Used in) Operating Activities (1,256) (2,281) (2,325) (4,417) (74,088)
Cash flows from financing activities          
Proceeds from private placement, net 0 0 0 17 7,231
Proceeds received on exercise of options 0 0 0 0 36
Funding provided by NovaGold on the completion of the Plan of Arrangement 0 0 0 0 40,000
Funding provided and expenses paid by NovaGold 0 0 0 0 61,256
Repayment of notes payable 0 0 0 0 (24,000)
Settlement of Restricted Share Units 0 0 0 0 (329)
Net Cash Provided by (Used in) Financing Activities 0 0 0 17 84,194
Cash flows used in investing activities          
Acquisition of plant and equipment 0 0 (17) (1) (3,258)
Acquisition of mineral properties 0 0 0 0 (4,116)
Net Cash Provided by (Used in) Investing Activities 0 0 (17) (1) (7,374)
Increase (decrease) in cash and cash equivalents (1,256) (2,281) (2,342) (4,401) 2,732
Cash and cash equivalents - beginning of period 3,988 4,364 5,074 6,484 0
Cash and cash equivalents - end of period 2,732 2,083 2,732 2,083 2,732
Non-cash investing and financing activities          
Issuance of common shares to NovaGold to acquire NovaCopper US Inc. 0 0 0 0 27,280
Notes payable assumed on acquisition of Ambler lands 0 0 0 0 21,471
Issuance of common shares by NovaGold to acquire Ambler lands $ 0 $ 0 $ 0 $ 0 $ 5,000