Equity method investment (Tables)

6 Months Ended

May 31, 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 six-month period ending May 31, 2021	(2,820)
May 31, 2021, investment in Ambler Metals LLC	170,325

Schedule of Ambler Metals LLC's Balance Sheet

	in thousands of dollars
	May 31, 2021	November 30, 2020
	$	$
Current assets: Cash, deposits and prepaid expenses	77,156	82,226
Non - current assets: Property, equipment and mineral properties	32,078	31,287
Loan receivable from South32	57,959	58,478
Current liabilities: Accounts payable and accrued liabilities	(1,555)	(1,445)
Non - current liabilities: Lease obligation	(782)	(51)
Net assets	164,856	170,495

Schedule of Ambler Metals LLC's comprehensive loss

		in thousands of dollars
	Three months ending		Six months ending
	May 31, 2021	May 31, 2020	May 31, 2021	May 31, 2020
	$	$	$	$
Amortization	17	38	33	50
Mineral properties expense	2,570	913	3970	1,080
General and administrative expense	1,088	685	2183	904
Interest income	(275)	(514)	(547)	(557)
Comprehensive loss	3,400	1,122	5,639	1,477