NovaGold Resources (NG) 10-Q 3 Apr 17 2017 Q1 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	3 Months Ended
	Feb. 28, 2017	Mar. 27, 2017
Document Information [Line Items]
Entity Registrant Name	NOVAGOLD RESOURCES INC
Entity Central Index Key	1,173,420
Trading Symbol	ng
Current Fiscal Year End Date	--11-30
Entity Filer Category	Large Accelerated Filer
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	Yes
Entity Common Stock, Shares Outstanding (in shares)		321,660,878
Document Type	10-Q
Document Period End Date	Feb. 28, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q1
Amendment Flag	false

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands	Feb. 28, 2017	Nov. 30, 2016
ASSETS
Cash and cash equivalents	$ 18,239	$ 30,274
Term deposits	80,000	75,000
Other assets	1,912	2,064
Current assets	100,151	107,338
Mineral property	43,841	43,359
Deferred income taxes	9,502	9,397
Other assets	6,332	5,812
Total assets	405,279	408,261
LIABILITIES
Accounts payable and accrued liabilities	1,292	2,837
Other liabilities	214	214
Current liabilities	1,506	3,051
Promissory note (note 6)	86,025	84,812
Deferred income taxes	20,360	20,135
Total liabilities	107,891	107,998
Commitments and contingencies (note 12)
EQUITY
Common shares	1,947,105	1,942,451
Contributed surplus	81,648	82,573
Accumulated deficit	(1,716,044)	(1,705,901)
Accumulated other comprehensive loss	(15,321)	(18,860)
Total equity	297,388	300,263
Total liabilities and equity	405,279	408,261
Donlin Gold [Member]
ASSETS
Investment	1,279	951
Galore Creek [Member]
ASSETS
Investment	$ 244,174	$ 241,404

Condensed Consolidated Interim

Condensed Consolidated Interim Statements of Loss and Comprehensive Loss (Unaudited) - USD ($)	3 Months Ended
	Feb. 28, 2017	Feb. 29, 2016
Operating expenses:
Equity loss	$ 2,232,000	$ 2,197,000
General and administrative (note 8)	6,731,000	7,333,000
	8,963,000	9,530,000
Loss from operations	(8,963,000)	(9,530,000)
Other income (expense) (note 10)	(1,127,000)	(385,000)
Loss before income taxes	(10,090,000)	(9,915,000)
Income tax expense	(53,000)	(62,000)
Net loss	(10,143,000)	(9,977,000)
Other comprehensive income (loss):
Unrealized gain on marketable securities, net of $33 and $3 tax expense, respectively	214,000	36,000
Foreign currency translation adjustments	3,325,000	(4,022,000)
Other comprehensive income (loss)	3,539,000	(3,986,000)
Comprehensive loss	$ (6,604,000)	$ (13,963,000)
Net loss per common share
Basic and diluted (in dollars per share)	$ (0.03)	$ (0.03)
Weighted average shares outstanding
Basic and diluted (thousands) (in shares)	321,428	319,343
Donlin Gold [Member]
Operating expenses:
Equity loss	$ 2,082,000	$ 2,003,000
Galore Creek [Member]
Operating expenses:
Equity loss	$ 150,000	$ 194,000

Condensed Consolidated Interim4

Condensed Consolidated Interim Statements of Loss and Comprehensive Loss (Unaudited) (Parentheticals) - USD ($) $ in Thousands	3 Months Ended
	Feb. 28, 2017	Feb. 29, 2016
Net unrealized gain (loss), tax recovery (expense)	$ 33	$ 3

Condensed Consolidated Interim5

Condensed Consolidated Interim Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Feb. 28, 2017	Feb. 29, 2016
Operating activities:
Net loss	$ (10,143)	$ (9,977)
Adjustments:
Equity losses of affiliates	2,232	2,197
Share-based compensation	3,925	4,708
Interest on promissory note	1,213	1,091
Foreign exchange (gain) loss	161	(525)
Other	(28)	217
Withholding tax paid on share-based compensation	(196)	(4,275)
Changes in operating assets and liabilities:
Other assets	(27)	634
Accounts payable and accrued liabilities	(1,554)	(1,806)
Net cash used in operating activities	(4,417)	(7,736)
Investing activities:
Proceeds from term deposits	40,000	40,000
Purchases of term deposits	(45,000)	(35,000)
Funding of affiliates	(2,640)	(2,063)
Other	(28)
Net cash used in investing activities	(7,668)	2,937
Effect of exchange rate changes on cash	50	6
Decrease in cash and cash equivalents	(12,035)	(4,793)
Cash and cash equivalents at beginning of period	30,274	41,731
Cash and cash equivalents at end of period	$ 18,239	$ 36,938

Condensed Consolidated Interim6

Condensed Consolidated Interim Statements of Equity (Unaudited) - USD ($) shares in Thousands, $ in Thousands	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	AOCI Attributable to Parent [Member]	Total
Balance (in shares) at Nov. 30, 2015	317,910
Balance at Nov. 30, 2015	$ 1,938,262	$ 80,774	$ (1,672,055)	$ (17,685)	$ 329,296
Net loss			(33,846)		(33,846)
Other comprehensive income (loss)				(1,175)	(1,175)
Share-based compensation and related share issuances (in shares)	2,106
Share-based compensation and related share issuances	$ 4,189	1,799			5,988
Balance (in shares) at Nov. 30, 2016	320,016
Balance at Nov. 30, 2016	$ 1,942,451	82,573	(1,705,901)	(18,860)	300,263
Net loss			(10,143)		(10,143)
Other comprehensive income (loss)				3,539	3,539
Share-based compensation and related share issuances (in shares)	1,637
Share-based compensation and related share issuances	$ 4,654	(925)			3,729
Balance (in shares) at Feb. 28, 2017	321,653
Balance at Feb. 28, 2017	$ 1,947,105	$ 81,648	$ (1,716,044)	$ (15,321)	$ 297,388

Note 1 - Nature of Operations a

Note 1 - Nature of Operations and Basis of Presentation	3 Months Ended
	Feb. 28, 2017
Notes to Financial Statements
Business Description and Basis of Presentation [Text Block]	NOTE 1 NOVAGOLD RESOURCES INC. and its affiliates and subsidiaries (collectively, “NOVAGOLD” or the “Company”) operate in the mining industry, focused on the exploration for and development of gold and copper mineral properties. The Company has no 50% 50% 50% The Condensed Consolidated Interim Financial Statements of NOVAGOLD are unaudited. In the opinion of management, all adjustments and disclosures necessary for a fair presentation of these interim statements have been included. The results reported in these interim statements are not necessarily indicative of the results that may November 30, 2016. The functional currency for the Company’s Canadian operations is the Canadian dollar and the functional currency for the Company’s U.S. operations is the U.S. dollar. References to “$” refer to United States currency and “C$” to Canadian currency. Dollar amounts are in thousands, except for per share amounts.

Note 2 - Summary of Significant

Note 2 - Summary of Significant Accounting Policies	3 Months Ended
	Feb. 28, 2017
Notes to Financial Statements
Significant Accounting Policies [Text Block]	NOTE 2 Recently issued accounting pronouncements Restricted Cash In November 2016, December 1, 2018. Classification of Certain Cash Receipts and Cash Payments In August 2016, December 1, 2018. Compensation—Stock Compensation In March 2016, December 1, 2017. Leases In February 2016, December 1, 2019. Classification and Measurement of Financial Instruments In January 2016, December 1, 2018.

Note 3 - Segmented Information

Note 3 - Segmented Information	3 Months Ended
	Feb. 28, 2017
Notes to Financial Statements
Segment Reporting Disclosure [Text Block]	NOTE 3 Operating segments are reported in a manner consistent with the internal reporting provided to the chief operating decision-maker. The chief operating decision-maker, who is responsible for allocating resources and assessing performance of the operating segments, has been identified as the Chief Executive Officer. The Chief Executive Officer considers the business from a geographic perspective considering the performance of our investments in the Donlin Gold project in Alaska, U.S.A. and the Galore Creek project in British Columbia, Canada. Segment information is provided on each of the material projects individually in notes 4 5.

Note 4 - Investment in Donlin G

Note 4 - Investment in Donlin Gold	3 Months Ended
	Feb. 28, 2017
Donlin Gold [Member]
Notes to Financial Statements
Equity Method Investments and Joint Ventures Disclosure [Text Block]	NOTE 4 The Donlin Gold project is owned and operated by Donlin Gold LLC, a limited liability company in which wholly owned subsidiaries of Barrick and NOVAGOLD each own a 50% four two two Changes in the Company’s 50% Three months ended February 28, February 29, Balance – beginning of period $ 951 $ 1,058 Share of losses Mineral property expenditures (2,059 ) (1,964 ) Depreciation (23 ) (39 ) (2,082 ) (2,003 ) Funding 2,410 1,848 Balance – end of period $ 1,279 $ 903 The following amounts represent the Company’s 50% $64,000 At At Current assets: Cash, prepaid expenses and other receivables $ 2,255 $ 1,540 Non-current assets: Property and equipment 80 101 Non-current assets: Mineral property 32,692 32,692 Current liabilities: Accounts payable and accrued liabilities (1,056 ) (690 ) Non-current liabilities: Reclamation obligation (692 ) (692 ) Net assets $ 33,279 $ 32,951

Note 5 - Investment in Galore G

Note 5 - Investment in Galore Greek	3 Months Ended
	Feb. 28, 2017
Galore Creek [Member]
Notes to Financial Statements
Equity Method Investments and Joint Ventures Disclosure [Text Block]	NOTE 5 The Galore Creek project is owned by the Galore Creek Partnership (GCP), a partnership in which Teck and a wholly owned subsidiary of NOVAGOLD each own a 50% four two two GCP prepares its financial statements under International Financial Reporting Standards, as issued by the IASB, and presents its financial statements in Canadian dollars. In accounting for its investment in GCP, the Company converts and presents reported amounts in accordance with US GAAP and in U.S. dollars. Changes in the Company’s investment in GCP are summarized as follows: Three months ended February 28, February 29, Balance – beginning of period $ 241,404 $ 242,906 Share of losses Mineral property expenditures (11 ) (59 ) Care and maintenance expense (139 ) (135 ) (150 ) (194 ) Funding 230 215 Foreign currency translation 2,690 (3,195 ) Balance – end of period $ 244,174 $ 239,732 The following amounts represent the Company’s 50% June 2011, 50% 50% 50% At At Current assets: Cash, prepaid expenses and other receivables $ 238 $ 170 Non-current assets: Mineral property 219,857 217,295 Current liabilities: Accounts payable and accrued liabilities (100 ) (112 ) Non-current liabilities: Reclamation obligation (7,341 ) (7,260 ) Net assets $ 212,654 $ 210,093

Note 6 - Promissory Note

Note 6 - Promissory Note	3 Months Ended
	Feb. 28, 2017
Notes to Financial Statements
Debt Disclosure [Text Block]	NOTE 6 The Company has a promissory note payable to Barrick of $51,576, 2%, $34,449 April 1, 2006 November 30, 2007. 85%

Note 7 - Fair Value Accounting

Note 7 - Fair Value Accounting	3 Months Ended
	Feb. 28, 2017
Notes to Financial Statements
Fair Value Disclosures [Text Block]	NOTE 7 Financial instruments measured at fair value are classified into one three three Level 1 Level 2 Level 3 The Company’s marketable equity securities are valued using quoted market prices in active markets and as such are classified within Level 1 $1,371 February 28, 2017 ($1,117 November 30, 2016),

Note 8 - General and Administra

Note 8 - General and Administrative Expenses	3 Months Ended
	Feb. 28, 2017
Notes to Financial Statements
General and Administrative Expenses [Text Block]	NOTE 8 Three months ended February 28, February 29, Salaries $ 1,719 $ 1,692 Share-based compensation 3,925 4,708 Office expense 545 504 Professional fees 303 126 Corporate communications and regulatory 229 294 Depreciation 10 9 $ 6,731 $ 7,333

Note 9 - Share-based Compensati

Note 9 - Share-based Compensation	3 Months Ended
	Feb. 28, 2017
Notes to Financial Statements
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]	NOTE 9 Three months ended February 28, February 29, Stock options $ 2,758 $ 3,668 Performance share unit plan 1,110 989 Deferred share unit plan 57 51 $ 3,925 $ 4,708 In the first three 2017, 2,923,300 $4.58 $1.60 621,600 C$6.16 C$2.10 three 50%, 1.35% 0.57% 2.5%. In the first three 2016, 4,586,700 C$5.02 C$1.83 three 54%, 0.5%. 3.0%. In the first three 2017, 940,500 C$6.58 first three 2016, 1,241,900 C$4.65 PSU grants made to employees on December 1, 2014 December 1, 2016 113% 1,449,506 63,961 $196,000 PSU grants made to employees on January 4, 2014 December 1, 2015 140% 1,377,364 $4,275,000

Note 10 - Other Income (Expense

Note 10 - Other Income (Expense)	3 Months Ended
	Feb. 28, 2017
Notes to Financial Statements
Other Income and Other Expense Disclosure [Text Block]	NOTE 10 Three months ended February 28, February 29, Interest income $ 247 $ 181 Interest expense (1,213 ) (1,091 ) Foreign exchange gain (loss) (161 ) 525 $ (1,127 ) $ (385 )

Note 11 - Related Party Transac

Note 11 - Related Party Transactions	3 Months Ended
	Feb. 28, 2017
Notes to Financial Statements
Related Party Transactions Disclosure [Text Block]	NOTE 11 In the first three 2017, $85 ($80 first three 2016). As of February 28, 2017, $28 (November 30, 2016: $28) $3,565 (November 30, 2016: $3,526)

Note 12 - Commitments and Conti

Note 12 - Commitments and Contingencies	3 Months Ended
	Feb. 28, 2017
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	NOTE 12 General The Company follows ASC guidance in determining its accruals and disclosures with respect to loss contingencies. Accordingly, estimated losses from loss contingencies are accrued by a charge to income when information available prior to issuance of the financial statements indicates that it is probable that a liability could be incurred and the amount of the loss can be reasonably estimated. Legal expenses associated with the contingency are expensed as incurred. If a loss contingency is not probable or reasonably estimable, disclosure of the loss contingency is made in the financial statements when it is at least reasonably possible that a material loss could be incurred. Obligations under operating leases The Company leases certain assets, such as office equipment and office facilities, under operating leases expiring at various dates through 2018. $232 2017, $49 2018, $38 2019 $7 2020, $326.

Significant Accounting Policies

Significant Accounting Policies (Policies)	3 Months Ended
	Feb. 28, 2017
Accounting Policies [Abstract]
New Accounting Pronouncements, Policy [Policy Text Block]	Recently issued accounting pronouncements Restricted Cash In November 2016, December 1, 2018. Classification of Certain Cash Receipts and Cash Payments In August 2016, December 1, 2018. Compensation—Stock Compensation In March 2016, December 1, 2017. Leases In February 2016, December 1, 2019. Classification and Measurement of Financial Instruments In January 2016, December 1, 2018.

Note 4 - Investment in Donlin20

Note 4 - Investment in Donlin Gold (Tables)	3 Months Ended
	Feb. 28, 2017
Donlin Gold [Member]
Notes Tables
Equity Method Investments [Table Text Block]	Three months ended February 28, February 29, Balance – beginning of period $ 951 $ 1,058 Share of losses Mineral property expenditures (2,059 ) (1,964 ) Depreciation (23 ) (39 ) (2,082 ) (2,003 ) Funding 2,410 1,848 Balance – end of period $ 1,279 $ 903 At At Current assets: Cash, prepaid expenses and other receivables $ 2,255 $ 1,540 Non-current assets: Property and equipment 80 101 Non-current assets: Mineral property 32,692 32,692 Current liabilities: Accounts payable and accrued liabilities (1,056 ) (690 ) Non-current liabilities: Reclamation obligation (692 ) (692 ) Net assets $ 33,279 $ 32,951

Note 5 - Investment in Galore21

Note 5 - Investment in Galore Greek (Tables)	3 Months Ended
	Feb. 28, 2017
Galore Creek [Member]
Notes Tables
Equity Method Investments [Table Text Block]	Three months ended February 28, February 29, Balance – beginning of period $ 241,404 $ 242,906 Share of losses Mineral property expenditures (11 ) (59 ) Care and maintenance expense (139 ) (135 ) (150 ) (194 ) Funding 230 215 Foreign currency translation 2,690 (3,195 ) Balance – end of period $ 244,174 $ 239,732 At At Current assets: Cash, prepaid expenses and other receivables $ 238 $ 170 Non-current assets: Mineral property 219,857 217,295 Current liabilities: Accounts payable and accrued liabilities (100 ) (112 ) Non-current liabilities: Reclamation obligation (7,341 ) (7,260 ) Net assets $ 212,654 $ 210,093

Note 8 - General and Administ22

Note 8 - General and Administrative Expenses (Tables)	3 Months Ended
	Feb. 28, 2017
Notes Tables
General and Administrative Expenses [Table Text Block]	Three months ended February 28, February 29, Salaries $ 1,719 $ 1,692 Share-based compensation 3,925 4,708 Office expense 545 504 Professional fees 303 126 Corporate communications and regulatory 229 294 Depreciation 10 9 $ 6,731 $ 7,333

Note 9 - Share-based Compensa23

Note 9 - Share-based Compensation (Tables)	3 Months Ended
	Feb. 28, 2017
Notes Tables
Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Table Text Block]	Three months ended February 28, February 29, Stock options $ 2,758 $ 3,668 Performance share unit plan 1,110 989 Deferred share unit plan 57 51 $ 3,925 $ 4,708

Note 10 - Other Income (Expen24

Note 10 - Other Income (Expense) (Tables)	3 Months Ended
	Feb. 28, 2017
Notes Tables
Schedule of Other Nonoperating Income (Expense) [Table Text Block]	Three months ended February 28, February 29, Interest income $ 247 $ 181 Interest expense (1,213 ) (1,091 ) Foreign exchange gain (loss) (161 ) 525 $ (1,127 ) $ (385 )

Note 1 - Nature of Operations25

Note 1 - Nature of Operations and Basis of Presentation (Details Textual) $ in Thousands	3 Months Ended
	Feb. 28, 2017USD ($)
Revenues	$ 0
Donlin Gold [Member]
Equity Method Investment, Ownership Percentage	50.00%
Galore Creek [Member]
Equity Method Investment, Ownership Percentage	50.00%
Galore Creek [Member] | Teck [Member]
Equity Method Investment, Ownership Percentage	50.00%

Note 4 - Investment in Donlin26

Note 4 - Investment in Donlin Gold (Details Textual) - Donlin Gold [Member] $ in Millions	Feb. 28, 2017USD ($)
Equity Method Investment, Ownership Percentage	50.00%
Unconsolidated Ventures, Number of Directors	4
Unconsolidated Ventures, Number of Directors, Selected By the Reporting Entity	2
Equity Method Investment, Aggregate Cost	$ 64
Barrick [Member]
Unconsolidated Ventures, Number of Directors Selected By Venture Partners	2
Barrick [Member]
Equity Method Investment, Ownership Percentage	50.00%

Note 4 - Investment in Donlin27

Note 4 - Investment in Donlin Gold - Summary of the Company's Investment in Donlin Gold LLC (Details) - USD ($) $ in Thousands	3 Months Ended
	Feb. 28, 2017	Feb. 29, 2016	Nov. 30, 2016
	$ (2,232)	$ (2,197)
Donlin Gold [Member]
Balance – beginning of period	951	1,058
Mineral property expenditures	(2,059)	(1,964)
Depreciation	(23)	(39)
	(2,082)	(2,003)
Funding	2,410	1,848
Balance – end of period	1,279	$ 903
Current assets: Cash, prepaid expenses and other receivables	2,255		$ 1,540
Non-current assets: Property and equipment	80		101
Non-current assets: Mineral property	32,692		32,692
Current liabilities: Accounts payable and accrued liabilities	(1,056)		(690)
Non-current liabilities: Reclamation obligation	(692)		(692)
Net assets	$ 33,279		$ 32,951

Note 5 - Investment in Galore28

Note 5 - Investment in Galore Greek (Details Textual) - Galore Creek [Member]	Feb. 28, 2017
Equity Method Investment, Ownership Percentage	50.00%
Unconsolidated Ventures, Number of Directors	4
Unconsolidated Ventures, Number of Directors, Selected By the Reporting Entity	2
Teck [Member]
Unconsolidated Ventures, Number of Directors Selected By Venture Partners	2
Teck [Member]
Equity Method Investment, Ownership Percentage	50.00%

Note 5 - Investment in Galore C

Note 5 - Investment in Galore Creek - Summary of the Company's Investment in GCP (Details) - USD ($)	3 Months Ended
	Feb. 28, 2017	Feb. 29, 2016	Nov. 30, 2016
	$ (2,232,000)	$ (2,197,000)
Galore Creek [Member]
Balance – beginning of period	241,404,000	242,906,000
Mineral property expenditures	(11,000)	(59,000)
Care and maintenance expense	(139,000)	(135,000)
	(150,000)	(194,000)
Funding	230,000	215,000
Foreign currency translation	2,690,000	(3,195,000)
Balance – end of period	244,174,000	$ 239,732,000
Current assets: Cash, prepaid expenses and other receivables	238		$ 170
Non-current assets: Mineral property	219,857		217,295
Current liabilities: Accounts payable and accrued liabilities	(100)		(112)
Non-current liabilities: Reclamation obligation	(7,341)		(7,260)
Net assets	$ 212,654		$ 210,093

Note 6 - Promissory Note (Detai

Note 6 - Promissory Note (Details Textual) - Barrick [Member] - Notes Payable, Other Payables [Member] $ in Thousands	3 Months Ended
	Feb. 28, 2017USD ($)
Notes Payable	$ 51,576
Interest Payable	$ 34,449
Percentage of Specified Revenue from Which the Promissory Note and Accrued Interest Are Payable	85.00%
Prime Rate [Member]
Debt Instrument, Basis Spread on Variable Rate	2.00%

Note 7 - Fair Value Accounting

Note 7 - Fair Value Accounting (Details Textual) - USD ($) $ in Thousands	Feb. 28, 2017	Nov. 30, 2016
Fair Value, Inputs, Level 1 [Member]
Marketable Securities, Equity Securities	$ 1,371	$ 1,117

Note 8 - General and Administ32

Note 8 - General and Administrative Expenses - Summary of General and Administrative Expenses (Details) - USD ($) $ in Thousands	3 Months Ended
	Feb. 28, 2017	Feb. 29, 2016
Salaries	$ 1,719	$ 1,692
Share-based compensation	3,925	4,708
Office expense	545	504
Professional fees	303	126
Corporate communications and regulatory	229	294
Depreciation	10	9
	$ 6,731	$ 7,333

Note 9 - Share-based Compensa33

Note 9 - Share-based Compensation (Details Textual)	Dec. 01, 2015USD ($)shares	Feb. 28, 2017CAD / shares	Feb. 28, 2017USD ($)$ / sharesshares	Feb. 29, 2016CAD / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross				4,586,700
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price | CAD / shares				CAD 5.02
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value | CAD / shares				CAD 1.83
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term			3 years	3 years
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate			50.00%	54.00%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate			1.35%	0.50%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Forfeiture Rate			2.50%	3.00%
CANADA
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate			0.57%
Employee Stock Options 1 [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross			2,923,300
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price | $ / shares			$ 4.58
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value | $ / shares			$ 1.60
Employee Stock Options 2 [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross			621,600
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price | CAD / shares		CAD 6.16
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value | CAD / shares		2.10
Performance Share Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period			940,500	1,241,900
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value | CAD / shares		CAD 6.58		CAD 4.65
Share-based Compensation Arrangement by Share-based Payment Award, Number of Common Shares Per Award, Adjusted, Multiplier	140.00%	113.00%	113.00%
Stock Issued During Period, Shares, Share-based Compensation, Net of Forfeitures	1,377,364
Payments Related to Tax Withholding for Share-based Compensation | $	$ 4,275,000		$ 196,000
Performance Share Units [Member] | Executive Officer [Member]
Stock Issued During Period, Shares, Share-based Compensation, Net of Forfeitures			1,449,506
Performance Share Units [Member] | Other Employees [Member]
Stock Issued During Period, Shares, Share-based Compensation, Net of Forfeitures			63,961

Note 9 - Share-based Compensa34

Note 9 - Share-based Compensation - Summary of Share-based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended
	Feb. 28, 2017	Feb. 29, 2016
Share-based Compensation Expense	$ 3,925	$ 4,708
Employee Stock Option [Member]
Share-based Compensation Expense	2,758	3,668
Performance Share Units [Member]
Share-based Compensation Expense	1,110	989
Deferred Share Units [Member]
Share-based Compensation Expense	$ 57	$ 51

Note 10 - Other Income (Expen35

Note 10 - Other Income (Expense) - Summary of Other Income (Expense) (Details) - USD ($) $ in Thousands	3 Months Ended
	Feb. 28, 2017	Feb. 29, 2016
Interest income	$ 247	$ 181
Interest expense	(1,213)	(1,091)
Foreign exchange gain (loss)	(161)	525
	$ (1,127)	$ (385)

Note 11 - Related Party Trans36

Note 11 - Related Party Transactions (Details Textual) - Galore Creek [Member] - USD ($) $ in Thousands	3 Months Ended
	Feb. 28, 2017	Feb. 29, 2016	Nov. 30, 2016
Rental Income, Nonoperating	$ 85	$ 80
Accounts Receivable, Related Parties, Current	28		$ 28
Accounts Receivable, Related Parties, Noncurrent	$ 3,565		$ 3,526

Note 12 - Commitments and Con37

Note 12 - Commitments and Contingencies (Details Textual) $ in Thousands	Feb. 28, 2017USD ($)
Operating Leases, Future Minimum Payments Due, Next Twelve Months	$ 232
Operating Leases, Future Minimum Payments, Due in Two Years	49
Operating Leases, Future Minimum Payments, Due in Three Years	38
Operating Leases, Future Minimum Payments, Due in Four Years	7
Operating Leases, Future Minimum Payments Due	$ 326