XML 53 R31.htm IDEA: XBRL DOCUMENT v3.20.4
Income taxes (Tables)
12 Months Ended
Nov. 30, 2020
Income taxes  
Schedule of Income Tax Expense

in thousands of dollars

November 30, 2020

November 30, 2019

November 30, 2018

    

$

    

    

$

    

    

$

    

Combined federal and provincial statutory tax rate

27.00

%  

27.00

%  

26.92

%

Income tax (recovery) at statutory rate

43,677

(7,534)

(5,882)

Difference in foreign tax rates

2,424

(281)

(424)

Impact of change in tax rate

23,582

Effect of foreign exchange changes

(4)

Non-deductible expenditures

1,009

4,061

3,018

Income from option payments applied as proceeds of sale

(8,812)

Return to provision adjustments

(6)

193

1,319

Impact of new lease accounting rules (ASC 842 adoption)

(28)

Expiry of Losses

277

Change in valuation allowance

(38,260)

3,284

(21,613)

Income tax recovery (expense)

Schedule of Future Income Tax Assets and Liabilities

in thousands of dollars

 

November 30, 2020

November 30, 2019

 

    

$

  

  

$

  

Deferred income tax assets

  

 

  

Non-capital losses

51,250

 

48,968

Mineral property interest

 

11,351

Deferred interest

6,251

 

6,251

Property, plant and equipment

88

 

70

Lease liability

153

Share issuance costs

267

 

351

Capital Loss

 

186

Investments

 

Other deductible temporary differences

223

 

345

Total deferred tax assets

58,232

 

67,522

Valuation allowance

(29,259)

 

(67,519)

Net deferred income tax assets

28,973

 

3

Deferred income tax liabilities

  

 

  

Investment in Ambler Metals LLC

(28,844)

Right of use asset

(129)

Other taxable temporary differences

 

(3)

Deferred income tax liabilities

(28,973)

 

(3)

Net deferred income tax assets

 

Schedule of loss carry forwards expiry

in thousands of dollars

Non-capital losses

Operating losses

Canada

United States

    

$

  

  

$

  

2021

1

2022

366

2023

960

2024

569

Thereafter

46,965

119,598

46,965

121,494