Equity method investment (Tables)

3 Months Ended

Feb. 28, 2021

Equity method investment

Schedule of gain on transfer of assets

	in thousands of dollars
	$
Fair value ascribed to Ambler Metals LLC interest	176,000
Less: carrying value of contributed /eliminated assets
Mineral properties	(30,631)
Property, plant and equipment	(618)
Elimination of Fairbanks warehouse right of use asset	(93)
Elimination of prepaid State of Alaska mining claim fees	(303)
Add:
Reimbursement of claims staking	44
Demobilization costs of drills	278
Cancellation of Fairbanks warehouse lease liability	93
Fair value of mineral properties purchase option	31,000
Gain on derecognition	175,770

Schedule of equity investment

	in thousands of dollars
	$
November 30, 2020, investment in Ambler Metals LLC.	173,145
Share of loss on equity investment for the three month period ending February 28, 2021	(1,120)
February 28, 2021, investment in Ambler Metals LLC.	172,025

Schedule of Ambler Metals LLC's Balance Sheet

	in thousands of dollars
	February 28, 2021	November 30, 2020
	$	$
Current assets: Cash, deposits and prepaid expenses	79,576	82,226
Non - current assets: Property, equipment and mineral properties	32,038	31,287
Loan receivable from South32	58,747	58,478
Current liabilities: Accounts payable and accrued liabilities	(1,310)	(1,445)
Non - current liabilities: Lease obligation	(795)	(51)
Net assets	168,256	170,495

Schedule of Ambler Metals LLC's comprehensive loss

	in thousands of dollars
	Period ending	Period ending
	February 28, 2021	February 29, 2020
	$	$
Amortization	16	12
Mineral properties expense	1,400	167
General and administrative expense	1,095	219
Interest income	(272)	(43)
Comprehensive loss	2,239	355