Investment in Ambler Metals LLC (Tables)

9 Months Ended

Aug. 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 nine-month period ending August 31, 2022	(13,295)
August 31, 2022, Investment in Ambler Metals	146,819

Schedule of Ambler Metals LLC's Balance Sheet

	in thousands of dollars
	August 31, 2022	November 30, 2021
	$	$
Total assets	126,360	149,374
Cash	93,532	61,205
Loan receivable from South32 (current and long-term)	—	55,355
Mineral properties	30,899	30,757
Total liabilities	(8,517)	(5,043)
Accounts payable and accrued liabilities	(7,789)	(4,148)
Members' equity (total assets less total liabilities)	117,843	144,331

Schedule of Ambler Metals LLC's net loss

			in thousands of dollars
	Three months ended			Nine months ended
	August 31, 2022	August 31, 2021		August 31, 2022	August 31, 2021
	$	$		$	$
Depreciation	32	22		77	55
Corporate salaries and wages	477	655		1,437	1,864
General and administrative	158	397		560	767
Mineral property expense	17,120	11,139		24,527	15,109
Professional fees	125	207		626	791
Foreign exchange (gain)/loss	10	(16)		5	4
Interest income	(72)	(260)		(642)	(807)
Comprehensive loss	17,850	12,144		26,590	17,783