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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended 137 Months Ended
Aug. 31, 2015
Aug. 31, 2014
Aug. 31, 2015
Aug. 31, 2014
Aug. 31, 2015
Cash flows used in operating activities          
Loss for the period $ (4,162) $ (2,911) $ (7,442) $ (7,619) $ (104,812)
Items not affecting cash          
Amortization 63 143 299 609 3,154
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 211 71 582 321 20,217
Net change in non-cash working capital          
Decrease (increase) in accounts receivable (156) 3 (84) (160) (260)
Decrease (increase) in deposits and prepaid amounts 205 142 180 110 (382)
Increase in accounts payable, accrued liabilities 66 237 367 8 1,369
Net Cash Provided by (Used in) Operating Activities (3,773) (2,315) (6,098) (6,731) (77,861)
Cash flows from financing activities          
Proceeds from private placement, net 0 7,231 0 7,231 7,231
Proceeds received on exercise of stock options 0 0 0 16 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 7,231 0 7,247 84,194
Cash flows used in investing activities          
Acquisition of plant & equipment 0 0 (17) (1) (3,258)
Acquisition of mineral properties 0 0 0 0 (4,116)
Proceeds from disposition of equipment 7 0 7 0 7
Cash acquired through Sunward Arrangement 19,399 0 19,399 0 19,399
Net Cash Provided by (Used in) Investing Activities 19,406 0 19,389 (1) 12,032
Increase in cash and cash equivalents 15,633 4,916 13,291 515 18,365
Cash and cash equivalents - beginning of period 2,732 2,083 5,074 6,484 0
Cash and cash equivalents - end of period 18,365 6,999 18,365 6,999 18,365
Non-cash investing and financing activities          
Issuance of common shares to NovaGold to acquire NovaCopper US Inc. 0 0 0 0 27,280
Issuance of common shares and arrangement options on acquisition of Sunward 22,959 0 22,959 0 22,959
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