Share capital (Tables)

9 Months Ended

Aug. 31, 2023

Share capital.

Schedule of common stock outstanding roll forward

	in thousands of dollars, except share amounts
	Number of shares	Ascribed value
		$
November 30, 2022	146,225,035	182,178
Private Placement, net of share issue cost	5,854,545	3,115
Restricted Share Units	2,807,921	1,780
Deferred Share Units	415,056	468
NovaGold deferred share units conversion	1,130	3
Services settled by common shares	112,142	60
Joint venture equity contribution (note 3(b))	143,505	111
August 31, 2023, issued and outstanding	155,559,334	187,715

Schedule of assumptions used in the pricing model

	August 31, 2023
Risk-free interest rates	3.49%
Exercise price	CDN$0.78
Expected life	3 years
Expected volatility	67.7%
Expected dividends	Nil

Summary of the company's stock option plan

		August 31, 2023
		Weighted average
		exercise price
	Number of options	CDN$
Balance – beginning of the period	11,225,400	2.49
Granted	3,230,000	0.78
Cancelled	(286,000)	2.70
Expired	(1,170,000)	1.43
Balance – end of the period	12,999,400	2.16

Summary of information about stock options

	Outstanding			Exercisable		Unvested
			Weighted		Weighted
	Number of	Weighted	average	Number of	average	Number of
	outstanding	average years	exercise price	exercisable	exercise price	unvested
Range of exercise price - CDN	options	to expiry	CDN$	options	CDN$	options
$0.75 to $1.00	3,230,000	4.27	0.78	1,463,328	0.78	1,766,672
$2.01 to $2.50	2,270,250	2.56	2.27	1,905,165	2.28	365,085
$2.51 to $3.00	6,041,650	1.73	2.64	6,041,650	2.64	—
$3.01 to $3.50	1,457,500	1.31	3.03	1,457,500	3.03	—
	12,999,400	2.46	2.16	10,867,643	2.38	2,131,757

Schedule of restricted share Units and deferred share units plans

	Number of RSUs	Number of DSUs
Balance – beginning of the period	257,268	1,560,734
Granted	4,273,433	1,107,895
Vested/Converted	(2,920,063)	(415,056)
Balance – end of the period	1,610,638	2,253,573