Investment in Ambler Metals LLC (Tables)

6 Months Ended

May 31, 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 six-month period ending May 31, 2022	(4,370)
May 31, 2022, Investment in Ambler Metals	155,744

Schedule of Ambler Metals LLC's Balance Sheet

	in thousands of dollars
	May 31, 2022	November 30, 2021
	$	$
Total assets	139,683	149,374
Cash	52,810	61,205
Loan receivable from South32 (current and long-term)	53,475	55,355
Mineral properties	30,757	30,757
Total liabilities	(3,990)	(5,043)
Accounts payable and accrued liabilities	(3,206)	(4,148)
Members' equity (total assets less total liabilities)	135,693	144,331

Schedule of Ambler Metals LLC's net loss

			in thousands of dollars
	Three months ended			Six months ended
	May 31, 2022	May 31, 2021		May 31, 2022	May 31, 2021
	$	$		$	$
Depreciation	22	17		45	33
Corporate salaries and wages	486	692		960	1,209
General and administrative	169	259		401	494
Mineral property expense	4,367	2,531		7,407	3,970
Professional fees	205	162		502	460
Foreign exchange (gain)/loss	(7)	14		(5)	20
Interest income	(322)	(275)		(570)	(547)
Comprehensive loss	4,920	3,400		8,740	5,639