Investment in Ambler Metals LLC (Tables)

3 Months Ended

Feb. 28, 2022

Investment in Ambler Metals LLC

Schedule of equity investment

	in thousands of dollars
	$
November 30, 2021, Investment in Ambler Metals	160,063
Joint venture equity contribution	51
Share of loss on equity investment for the three-month period ending February 28, 2022	(1,910)
February 28, 2022, Investment in Ambler Metals	158,204

Schedule of Ambler Metals LLC's Balance Sheet

	in thousands of dollars
	February 28, 2022	November 30, 2021
	$	$
Total assets	144,127	149,374
Cash	58,164	61,205
Loan receivable from South32 (current and long-term)	53,156	55,355
Mineral properties	30,757	30,757
Total liabilities	(3,514)	(5,043)
Accounts payable and accrued liabilities	(2,673)	(4,148)
Members' equity (total assets less total liabilities)	140,613	144,331

Schedule of Ambler Metals LLC's net loss

	in thousands of dollars
		February 28, 2022	February 28, 2021
		$	$
Depreciation		23	16
Corporate salaries and wages		474	517
General and administrative		232	235
Mineral property expense		3,040	1,439
Professional fees		297	298
Foreign exchange (gain)/loss		2	6
Interest income		(248)	(272)
Comprehensive loss		3,820	2,239