Sale of Sunward Investments Ltd (Tables)

12 Months Ended

Nov. 30, 2016

Gain On Sale of Business [Table Text Block]

The Company recognized a gain on the sale of Sunward Investments of $4.4 million as of September 1, 2016 as outlined below.

	in thousands of dollars
	$
Consideration received		8,102
Cash reimbursement from BRI		51
Net assets sold		(3,545)
Transaction costs		(160)
Gain on sale of Sunward Investments		4,448

Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Table Text Block]

The fair value of the BRI warrants was determined using the Black-Scholes option pricing model. Assumptions used in the pricing model in the measurement of the fair value of the warrants are as follows:

Risk-free interest rates	0.59	%
Exercise price	CDN$3.50
Expected life	2 years
Expected forfeiture rate	0	%
Expected volatility	66.9	%
Expected dividends	Nil

Schedule of Expenses Comprise the Discontinued Operations [Table Text Block]

The following expenses comprise the discontinued operations of Sunward Investments and substantially the entire Colombian segment of the Company for the periods of ownership noted.

in thousands of dollars

	December 1, 2015 -  September 1, 2016 $		June 19, 2015 – November 30, 2015 $
Amortization		95		63
Foreign exchange loss		4		23
General and administrative		5		3
Mineral properties expense		460		309
Professional fees		34		-
Discontinued operations expense for the year		598		398
Gain on sale of Sunward Investments Ltd.		(4,448)		-
(Income)/loss from discontinued operations for the year		(3,850)		398