Financial instruments and financial risk factors (Tables)

12 Months Ended

Oct. 31, 2022

Financial Instruments [Abstract]

Schedule of fair value measurement of assets

The Company’s financial assets measured at fair value on a recurring basis are measured under level 2 of the hierarchy and were calculated as follows:

As at October 31, 2022	Balance		Level 2
Accounts receivable	$	1.5	$	1.5
	$	1.5	$	1.5
As at October 31, 2021
Accounts receivable	4.1		4.1
	$	4.1	$	4.1

Schedule of fair value measurement of liabilities

The Company’s financial liabilities measured at fair value on a recurring basis are measured under level 1 and 2 of the hierarchy and were calculated as follows:

As at October 31, 2022	Balance		Level 1		Level 2
Conversion feature of convertible debt (refer to Note 13)	$	43.9	$	—	$	43.9
	$	43.9	$	—	$	43.9
As at October 31, 2021
Conversion feature of convertible debt (refer to Note 13)	29.0		—		29.0
Warrants (refer to Note 14)	82.1		53.5		28.6
	$	111.1	$	53.5	$	57.6

Schedule of fair value measurement of price

The following table sets out the Company's exposure, as at October 31, 2022 and 2021, in relation to the impact of movements in the Cobalt and Nickel price for the provisionally invoiced sales volume:

	Cobalt				Nickel
As at October 31,	2022		2021		2022		2021
Metric tonnes subject to fair value pricing adjustments	4,202		1,728		4,202		1,728
10% increase in prices	$	1.1	$	0.3	$	1.0	$	0.4
10% decrease in prices	$	(1.1)	$	(0.3)	$	(1.0)	$	(0.4)

The following table sets out the period end commodity prices for Cobalt and Nickel as at October 31, 2022 and 2021:

Market price per tonne
As at October 31,	2022		2021
Cobalt	$	53,462	$	60,407
Nickel	21,710		19,300