Document And Entity Information
Document And Entity Information - USD ($) $ in Thousands | 12 Months Ended | ||
Nov. 30, 2018 | Jan. 16, 2019 | May 31, 2018 | |
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 Emerging Growth Company | false | ||
Entity Small Business | false | ||
Entity Common Stock, Shares Outstanding (in shares) | 325,052,364 | ||
Entity Public Float | $ 1,150,740 | ||
Document Type | 10-K | ||
Document Period End Date | Nov. 30, 2018 | ||
Document Fiscal Year Focus | 2,018 | ||
Document Fiscal Period Focus | FY | ||
Amendment Flag | false | ||
Entity Shell Company | false |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Nov. 30, 2018 | Nov. 30, 2017 | ||
ASSETS | ||||
Cash and cash equivalents | [1] | $ 21,004 | $ 27,954 | |
Term deposits | 146,000 | 56,000 | [1] | |
Other assets (Note 7) | 2,379 | 883 | [1] | |
Current assets | 169,383 | 84,837 | [1] | |
Notes receivable (Note 5) | 89,459 | [1] | ||
Investment in Donlin Gold (Note 6) | 1,209 | 1,100 | [1] | |
Other assets (Note 7) | 878 | 1,496 | [1] | |
Non-current assets held for sale (Note 4) | 311,228 | [1] | ||
Total assets | 260,929 | 398,661 | [1] | |
LIABILITIES | ||||
Accounts payable and accrued liabilities | 710 | 591 | [1] | |
Accrued payroll and related benefits | 2,545 | 2,513 | [1] | |
Income taxes payable | 223 | 136 | [1] | |
Other liabilities | 182 | 182 | [1] | |
Current liabilities | 3,660 | 3,422 | [1] | |
Promissory note (Note 8) | 96,501 | 90,040 | [1] | |
Deferred income taxes (Note 12) | 80 | [1] | ||
Non-current liabilities held for sale (Note 4) | 21,170 | [1] | ||
Total liabilities | 100,241 | 114,632 | [1] | |
Commitments and contingencies (Note 17) | [1] | |||
EQUITY | ||||
Common shares: Authorized – 1,000 million shares, no par value; Issued and outstanding – 323.2 and 322.2 million shares, respectively | 1,954,861 | 1,951,587 | [1] | |
Contributed surplus | 87,987 | 83,534 | [1] | |
Accumulated deficit | (1,857,682) | (1,744,917) | [1] | |
Accumulated other comprehensive income (loss) | (24,478) | (6,175) | [1] | |
Total equity | 160,688 | 284,029 | [1] | |
Total liabilities and equity | $ 260,929 | $ 398,661 | [1] | |
[1] | See note 4 - Discontinued operations |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parentheticals) - $ / shares $ / shares in Thousands | Nov. 30, 2018 | Nov. 30, 2017 |
Common shares authorized (in shares) | 1,000,000,000 | 1,000,000,000 |
Common shares, par value (in dollars per share) | $ 0 | $ 0 |
Common shares issued (in shares) | 323,222,840 | 322,219,187 |
Common shares outstanding (in shares) | 323,222,840 | 322,219,187 |
Consolidated Statements of Loss
Consolidated Statements of Loss and Comprehensive Loss - USD ($) shares in Thousands, $ in Thousands | 12 Months Ended | |||||
Nov. 30, 2018 | Nov. 30, 2017 | Nov. 30, 2016 | ||||
Operating expenses: | ||||||
Equity loss - Donlin Gold (Note 6) | $ 8,798 | $ 11,219 | [1],[2] | $ 8,819 | [1],[2] | |
General and administrative (Note 10) | [1] | 18,493 | 20,802 | 20,179 | ||
27,291 | 32,021 | [1] | 28,998 | [1] | ||
Loss from operations | (27,291) | (32,021) | [1] | (28,998) | [1] | |
Other income (expense) (Note 11) | (3,649) | (4,587) | [1] | (3,422) | [1] | |
(30,940) | (36,608) | [1] | (32,420) | [1] | ||
Income tax expense (Note 12) | (526) | (307) | [1] | (277) | [1] | |
Net loss from continuing operations | (31,466) | (36,915) | [1] | (32,697) | [1] | |
Net loss from discontinued operations, net of tax (Note 4) | (81,299) | (2,101) | [1],[2] | (1,149) | [1],[2] | |
Net loss | (112,765) | (39,016) | [1],[2] | (33,846) | [1],[2] | |
Other comprehensive income (loss): | ||||||
Unrealized holding gain (loss) on marketable securities during period net of $(128), $43 and $69 tax (recovery) expense | (541) | 271 | [1] | 477 | [1] | |
Reclassification adjustment for losses included in net loss from continuing operations (Note 15) | 76 | [1] | [1] | |||
Foreign currency translation adjustments | (4,062) | 12,414 | [1] | (1,652) | [1] | |
Reclassification of cumulative translation adjustment included in net loss from discontinued operations (Note 4) | (13,776) | [1] | [1] | |||
(18,303) | 12,685 | [1] | (1,175) | [1] | ||
Comprehensive loss | $ (131,068) | $ (26,331) | [1] | $ (35,021) | [1] | |
Net loss per common share – basic and diluted | ||||||
Continuing operations (in dollars per share) | $ (0.10) | $ (0.11) | [1] | $ (0.10) | [1] | |
Discontinued operations (in dollars per share) | (0.25) | (0.01) | [1] | (0.01) | [1] | |
(in dollars per share) | $ (0.35) | $ (0.12) | [1] | $ (0.11) | [1] | |
Weighted average shares outstanding | ||||||
Basic and diluted (thousands) (in shares) | 322,487 | 321,659 | [1] | 319,774 | ||
[1] | See note 4 - Discontinued operations | |||||
[2] | See note 4 - Discontinued operations |
Consolidated Statements of Lo_2
Consolidated Statements of Loss and Comprehensive Loss (Parentheticals) - USD ($) $ in Thousands | 12 Months Ended | ||
Nov. 30, 2018 | Nov. 30, 2017 | Nov. 30, 2016 | |
Unrealized holding gain (loss) on marketable securities, tax recovery (expense) | $ (128) | $ 43 | $ 69 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 12 Months Ended | |||||
Nov. 30, 2018 | Nov. 30, 2017 | Nov. 30, 2016 | ||||
Operating activities: | ||||||
Net loss | $ (112,765) | $ (39,016) | [1],[2] | $ (33,846) | [1],[2] | |
Adjustments: | ||||||
Loss from discontinued operations, net of tax | 81,299 | 2,101 | [1],[2] | 1,149 | [1],[2] | |
Equity loss – Donlin Gold | 8,798 | 11,219 | [1],[2] | 8,819 | [1],[2] | |
Share-based compensation | 7,727 | 10,293 | [2] | 10,263 | [2] | |
Interest expense on promissory note | 6,461 | 5,228 | [2] | 4,551 | [2] | |
Foreign exchange loss (gain) | 171 | 531 | [2] | (182) | [2] | |
Accretion of notes receivable | (1,061) | (58) | [2] | (70) | [2] | |
Deferred income tax expense (recovery) | 80 | (43) | [2] | (69) | [2] | |
Write-down of investments | 76 | [2] | [2] | |||
Other | 22 | 62 | [2] | 167 | [2] | |
Changes in operating assets and liabilities: | ||||||
Other assets | (1,471) | 1,266 | [2] | 743 | [2] | |
Accounts payable and accrued liabilities | 233 | 52 | [2] | (324) | [2] | |
Accrued payroll and related benefits | 38 | 320 | [2] | 99 | [2] | |
Other liabilities | (32) | [2] | (237) | [2] | ||
Net cash used in operating activities of continuing operations | (10,392) | (8,077) | [2] | (8,937) | [2] | |
Investing activities: | ||||||
Proceeds from term deposits | 62,000 | 151,900 | [2] | 100,000 | [2] | |
Purchases of term deposits | (152,000) | (132,900) | [2] | (90,000) | [2] | |
Funding of Donlin Gold | (8,907) | (11,368) | [2] | (8,712) | [2] | |
Other | (13) | (28) | [2] | [2] | ||
Net cash provided from (used in) investing activities of continuing operations | (98,920) | 7,604 | [2] | 1,288 | [2] | |
Net cash provided from (used in) investing activities of discontinued operations (Note 4) | 102,448 | (1,803) | [2] | 496 | [2] | |
Net cash provided from investing activities | 3,528 | 5,801 | [2] | 1,784 | [2] | |
Financing activities: | ||||||
Withholding tax on share-based compensation | (196) | [2] | (4,275) | [2] | ||
Net cash used in financing activities of continuing operations | (196) | [2] | (4,275) | [2] | ||
Effect of exchange rate changes on cash | (86) | 152 | [2] | (29) | [2] | |
Net change in cash and cash equivalents | (6,950) | (2,320) | [2] | (11,457) | [2] | |
Cash and cash equivalents at beginning of period | [2] | 27,954 | 30,274 | 41,731 | ||
Cash and cash equivalents at end of period | $ 21,004 | $ 27,954 | [2] | $ 30,274 | [2] | |
[1] | See note 4 - Discontinued operations | |||||
[2] | See note 4 - Discontinued operations |
Consolidated Statements of Equi
Consolidated Statements of Equity - USD ($) shares in Thousands, $ in Thousands | Performance Share Units [Member]Common Stock [Member] | Performance Share Units [Member]Additional Paid-in Capital [Member] | Performance Share Units [Member]Retained Earnings [Member] | Performance Share Units [Member]AOCI Attributable to Parent [Member] | Performance Share Units [Member] | Deferred Share Units [Member]Common Stock [Member] | Deferred Share Units [Member]Additional Paid-in Capital [Member] | Deferred Share Units [Member]Retained Earnings [Member] | Deferred Share Units [Member]AOCI Attributable to Parent [Member] | Deferred Share Units [Member] | 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, beginning at Nov. 30, 2015 | $ 1,938,262 | $ 80,774 | $ (1,672,055) | $ (17,685) | [1] | $ 329,296 | ||||||||||||
Share-based compensation | 10,263 | [1] | 10,263 | |||||||||||||||
Share-based awards settled in shares (in shares) | 1,377 | 1,377 | ||||||||||||||||
Share-based awards settled in shares | $ 2,679 | $ (2,679) | ||||||||||||||||
Stock options exercised (in shares) | 729 | |||||||||||||||||
Stock options exercised | $ 1,510 | (1,510) | [1] | |||||||||||||||
Withholding tax on PSUs | (4,275) | (4,275) | ||||||||||||||||
Net loss | (33,846) | [1] | (33,846) | [2],[3] | ||||||||||||||
Other comprehensive income (loss) | (1,175) | [1] | (1,175) | [3] | ||||||||||||||
Balance (in shares) at Nov. 30, 2016 | 320,016 | |||||||||||||||||
Balance, ending at Nov. 30, 2016 | $ 1,942,451 | 82,573 | (1,705,901) | (18,860) | [1] | 300,263 | ||||||||||||
Share-based compensation | 10,293 | [1] | 10,293 | |||||||||||||||
Share-based awards settled in shares (in shares) | 1,513 | 1,513 | 28 | |||||||||||||||
Share-based awards settled in shares | $ 4,000 | $ (4,000) | $ 122 | $ (122) | [1] | |||||||||||||
Stock options exercised (in shares) | 662 | |||||||||||||||||
Stock options exercised | $ 5,014 | (5,014) | [1] | |||||||||||||||
Withholding tax on PSUs | (196) | (196) | ||||||||||||||||
Net loss | (39,016) | [1] | (39,016) | [2],[3] | ||||||||||||||
Other comprehensive income (loss) | 12,685 | [1] | 12,685 | [3] | ||||||||||||||
Balance (in shares) at Nov. 30, 2017 | 322,219 | |||||||||||||||||
Balance, ending at Nov. 30, 2017 | $ 1,951,587 | 83,534 | (1,744,917) | (6,175) | [1] | 284,029 | [4] | |||||||||||
Share-based compensation | 7,727 | [1] | $ 7,727 | |||||||||||||||
Share-based awards settled in shares (in shares) | 98 | |||||||||||||||||
Share-based awards settled in shares | $ 427 | $ (427) | ||||||||||||||||
Stock options exercised (in shares) | 906 | 2,672 | ||||||||||||||||
Stock options exercised | $ 2,847 | (2,847) | [1] | |||||||||||||||
Net loss | (112,765) | [1] | (112,765) | |||||||||||||||
Other comprehensive income (loss) | (18,303) | [1] | (18,303) | |||||||||||||||
Balance (in shares) at Nov. 30, 2018 | 323,223 | |||||||||||||||||
Balance, ending at Nov. 30, 2018 | $ 1,954,861 | $ 87,987 | $ (1,857,682) | $ (24,478) | $ 160,688 | |||||||||||||
[1] | Accumulated other comprehensive income (loss) | |||||||||||||||||
[2] | See note 4 - Discontinued operations | |||||||||||||||||
[3] | See note 4 - Discontinued operations | |||||||||||||||||
[4] | See note 4 - Discontinued operations |
Note 1 - The Company
Note 1 - The Company | 12 Months Ended |
Nov. 30, 2018 | |
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 mineral properties. The Company has no 50% On July 27, 2018, 50% 40% November 30, 2017, 4. |
Note 2 - Summary of Significant
Note 2 - Summary of Significant Accounting Policies | 12 Months Ended |
Nov. 30, 2018 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | NOTE 2 Presentation These Consolidated Financial Statements are presented in United States dollars and have been prepared in accordance with accounting principles generally accepted in the United States (US GAAP). References in these Consolidated Financial Statements and Notes to $ refer to United States dollars and C$ to Canadian dollars. Dollar amounts are in thousands, except for per share amounts. Use of estimates The preparation of the Company’s Consolidated Financial Statements in accordance with US GAAP requires the Company to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the Consolidated Financial Statements and the reported amounts of expenses during the reporting period. The more significant areas requiring the use of management estimates and assumptions include: investments in affiliates; mineral properties; notes receivable; contingent notes receivable; income taxes; and share-based compensation. The Company bases its estimates on historical experience and on various other assumptions that are believed to be reasonable under the circumstances. Actual results could differ from the amounts estimated in these Consolidated Financial Statements. Principles of consolidation The Company’s Consolidated Financial Statements include NOVAGOLD RESOURCES INC. and its wholly-owned subsidiaries including, NOVAGOLD U.S. Holdings Inc., NOVAGOLD Resources Alaska Inc., NOVAGOLD USA, Inc., and AGC Resources Inc. All inter-company transactions and balances are eliminated on consolidation. 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. Therefore, gains and losses on U.S. dollar denominated transactions and the effect of translating U.S. dollar denominated balances of Canadian operations are recorded in net loss. The effects of translating the Company’s Canadian operations from the Canadian dollar to the U.S. dollar are recorded in Other comprehensive income (loss). Cash and cash equivalents Cash and cash equivalents consist of cash balances and highly liquid investments with original maturities of three Term deposits The Company’s term deposits are classified as held to maturity and recorded at cost. Term deposits are held at Chartered Canadian banks with original maturities of 12 not Investment in affiliates Investments in unconsolidated ventures over which the Company has the ability to exercise significant influence, but does not 50/50 not The equity method is a basis of accounting for investments whereby the investment is initially recorded at cost and the carrying value is adjusted thereafter to include the investor’s pro rata share of post-acquisition earnings or losses of the investee, as computed by the consolidation method. Cash funding increases the carrying value of the investment. Profit distributions received or receivable from an investee reduce the carrying value of the investment. Donlin Gold LLC is a non-publicly traded equity investee owning an exploration and development project. Therefore, the Company assesses whether there has been a potential impairment triggering event for other-than-temporary impairment by testing the underlying assets of the equity investee for recoverability and assessing whether there has been a change in the development plan or strategy for the project. If the underlying assets are not Mineral properties Mineral property expenditures are expensed as incurred except for expenditures associated with the acquisition of mineral property assets through a business combination or asset acquisition. The Company reviews and evaluates its mineral properties for impairment when events or changes in circumstances indicate that the related carrying amounts may not may Income taxes The Company accounts for income taxes using the liability method, recognizing certain temporary differences between the financial reporting basis of the Company’s liabilities and assets and the related income tax basis for such liabilities and assets. This method generates deferred income tax liabilities and assets for the Company, as measured by the statutory tax rates in effect. The Company derives its deferred income tax charge or benefit by recording the change in deferred income tax liabilities and asset balances for the year. The Company’s deferred income tax assets include certain future tax benefits. The Company records a valuation allowance against any portion of those deferred income tax assets when it believes, based on the weight of available evidence, it is more likely than not not Share-based payments The Company records share-based compensation awards exchanged for employee services at fair value on the date of the grant and expenses the awards in the Consolidated Statements of Loss over the requisite employee service period. The fair values of stock options are determined using a Black-Scholes option pricing model. The fair values of PSUs are determined using a Monte Carlo valuation model. The Company's estimates may not Net income (loss) per common share Basic and diluted income (loss) per share are presented for Net income (loss). Basic income (loss) per share is computed by dividing Net income (loss) by the weighted-average number of outstanding common shares for the period. Diluted income per share reflects the potential dilution that could occur if securities or other contracts that may Reclassifications On July 25, 2018, 50% 40% July 27, 2018. November 30, 2017, 4. Recently adopted accounting pronouncements Compensation—Stock Compensation In May 2017, No. 2017 09 December 1, 2017, no Recently issued accounting pronouncements Restricted Cash In November 2016, No. 2016 18 December 15, 2017 December 1, 2018 not Statement of Cash Flows In August 2016, No. 2016 15 December 1, 2018, not December 1, 2018 not Leases In February 2016, No. 2016 02 September 2017 No. 2017 13, January 2018 No. 2018 01 July 2018 No. 2018 10 No. 2018 11. December 15, 2018, December 1, 2019. not Classification and Measurement of Financial Instruments In January 2016, No. 2016 01 February 2018 No. 2018 03. not not December 1, 2018. Accumulated other comprehensive loss Accumulated deficit November 30, 2018 $ 378 Accumulated deficit Fair Value Disclosure Requirements In August 2018, No. 2018 13 December 1, 2020, |
Note 3 - Segmented Information
Note 3 - Segmented Information | 12 Months Ended |
Nov. 30, 2018 | |
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, USA (Note 6 July 27, 2018, 4 |
Note 4 - Discontinued Operation
Note 4 - Discontinued Operations | 12 Months Ended |
Nov. 30, 2018 | |
Notes to Financial Statements | |
Disposal Groups, Including Discontinued Operations, Disclosure [Text Block] | NOTE 4 Galore Creek transaction On July 27, 2018, 50 $100,000 $75,000 July 27, 2021; $25,000 July 27, 2023; $75,000 no The details of our Net loss from discontinued operations, net of tax, Years ended November 30, 2018 2017 2016 Equity loss – Galore Creek $ (1,203 ) $ (1,676 ) $ (1,149 ) Income tax expense – (425 ) – Galore Creek operations, net of tax (1,203 ) (2,101 ) (1,149 ) Loss on sale of Galore Creek, net of tax (80,096 ) – – $ (81,299 ) $ (2,101 ) $ (1,149 ) In 2018, Loss on sale of Galore Creek, net of tax Cash consideration received on closing $ 100,000 Refund of reclamation deposits 4,897 Less closing costs (721 ) 104,176 Fair value of notes receivable (Note 5) 88,398 Net proceeds 192,574 Less book values: Investment in GCP (248,367 ) Copper Canyon mineral property (44,577 ) Reclamation deposits (4,967 ) Reclassification of cumulative foreign currency translation adjustments 13,776 Deferred income tax recovery 11,465 $ (80,096 ) Other comprehensive income (loss) not not Other comprehensive income (loss) The details of our Net cash provided from (used in) investing activities of discontinued operations Years ended November 30, 2018 2017 2016 Funding of GCP $ (1,475 ) $ (1,600 ) $ (1,020 ) Net cash proceeds received 99,279 – – Reclamation deposits 4,644 (203 ) – Exploration tax credit – – 1,516 $ 102,448 $ (1,803 ) $ 496 The carrying amounts of Galore Creek’s major classes of assets and liabilities, which are presented as held for sale in the comparative Consolidated Balance Sheet as of November 30, 2017, Non-current assets held for sale: Investment in GCP $ 251,461 Copper Canyon mineral property 45,179 Reclamation deposits 5,035 Deferred income tax assets 9,553 $ 311,228 Non-current liabilities held for sale: Deferred income tax liabilities $ 21,170 Investment in Galore Creek through July 27, 2018 The Galore Creek project is owned by GCP, a partnership in which Teck and a subsidiary of Newmont (formerly a wholly-owned subsidiary of NOVAGOLD prior to the completion of the sale transaction on July 27, 2018) 50% four 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 through July 27, 2018, Changes in the Company’s investment in GCP are summarized as follows: Years ended November 30, 2018 2017 2016 Balance – beginning of period $ 251,461 $ 241,404 $ 242,906 Share of losses Mineral property expenditures – (48 ) (169 ) Care and maintenance expense (1,203 ) (1,628 ) (980 ) (1,203 ) (1,676 ) (1,149 ) Funding 1,475 1,600 1,020 Foreign currency translation (3,366 ) 10,133 (1,373 ) Sale of investment in GCP (248,367 ) – – Balance – end of period $ – $ 251,461 $ 241,404 The following amounts represent the Company’s 50% November 30, 2017, June 2011, 50% 50% not 50% Current assets: Cash, prepaid expenses and other receivables $ 197 Non-current assets: Mineral property 226,561 Current liabilities: Accounts payable and accrued liabilities (237 ) Non-current liabilities: Reclamation obligation (7,645 ) Net assets $ 218,876 |
Note 5 - Notes Receivable
Note 5 - Notes Receivable | 12 Months Ended |
Nov. 30, 2018 | |
Notes to Financial Statements | |
Financing Receivables [Text Block] | NOTE 5 The Company has notes receivable from Newmont including a $75,000 July 27, 2021, $25,000 July 27, 2023. $ 75,000 $25,000 $88,398, three five 3.6% $75,000 $25,000 three five November 30, 2018, $89,459 $1,061 $75,000 No $75,000 not not November 30, 2018. |
Note 6 - Investment in Donlin G
Note 6 - Investment in Donlin Gold | 12 Months Ended |
Nov. 30, 2018 | |
Donlin Gold [Member] | |
Notes to Financial Statements | |
Equity Method Investments and Joint Ventures Disclosure [Text Block] | NOTE 6 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 Investment in Donlin Gold Years ended November 30, 2018 2017 2016 Balance – beginning of period $ 1,100 $ 951 $ 1,058 Share of losses Mineral property expenditures (8,785 ) (11,139 ) (8,689 ) Depreciation (13 ) (80 ) (130 ) (8,798 ) (11,219 ) (8,819 ) Funding 8,907 11,368 8,712 Balance – end of period $ 1,209 $ 1,100 $ 951 The following amounts represent the Company’s 50% Non-current assets: Mineral property $64,000, At November 30, 2018 2017 Current assets: Cash, prepaid expenses and other receivables $ 1,872 $ 2,075 Non-current assets: Property and equipment 10 23 Non-current assets: Mineral property 32,692 32,692 Current liabilities: Accounts payable and accrued liabilities (673 ) (998 ) Non-current liabilities: Reclamation obligation (692 ) (692 ) Net assets $ 33,209 $ 33,100 |
Note 7 - Other Assets
Note 7 - Other Assets | 12 Months Ended |
Nov. 30, 2018 | |
Notes to Financial Statements | |
Other Assets Disclosure [Text Block] | NOTE 7 At November 30, 2018 2017 Other current assets: Accounts and interest receivable $ 1,781 $ 303 Prepaid expenses 598 580 $ 2,379 $ 883 Other long-term assets: Marketable equity securities $ 839 $ 1,448 Office equipment 39 48 $ 878 $ 1,496 |
Note 8 - Promissory Note
Note 8 - Promissory Note | 12 Months Ended |
Nov. 30, 2018 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | NOTE 8 The Company has a promissory note payable to Barrick of $96,501, $51,576, $44,925 2%. April 1, 2006 November 30, 2007. 85% |
Note 9 - Fair Value Accounting
Note 9 - Fair Value Accounting | 12 Months Ended |
Nov. 30, 2018 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | NOTE 9 Financial instruments measured at fair value are classified into one three three Level 1 — Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities; Level 2 — Quoted prices in markets that are not Level 3 — Prices or valuation techniques that require inputs that are both significant to the fair value measurement and unobservable (supported by little or no The Company’s marketable equity securities are valued using quoted market prices in active markets and as such are classified within Level 1 $839 November 30, 2018 ( $1,448 November 30, 2017), |
Note 10 - General and Administr
Note 10 - General and Administrative | 12 Months Ended |
Nov. 30, 2018 | |
Notes to Financial Statements | |
General and Administrative Expenses [Text Block] | NOTE 10 Years ended November 30, 2018 2017 2016 Share-based compensation (Note 13) $ 7,727 $ 10,293 $ 10,263 Salaries and benefits 6,531 6,470 6,167 Office expense 2,346 2,140 2,035 Professional fees 949 873 680 Corporate communications and regulatory 918 992 1,001 Depreciation 22 34 33 $ 18,493 $ 20,802 $ 20,179 |
Note 11 - Other Income (Expense
Note 11 - Other Income (Expense) | 12 Months Ended |
Nov. 30, 2018 | |
Notes to Financial Statements | |
Other Income and Other Expense Disclosure [Text Block] | NOTE 11 Years ended November 30, 2018 2017 2016 Interest income $ 1,998 $ 1,114 $ 877 Accretion of notes receivable 1,061 58 70 Interest expense on promissory note (6,461 ) (5,228 ) (4,551 ) Foreign exchange gain (loss) (171 ) (531 ) 182 Write-down of investments (76 ) – – $ (3,649 ) $ (4,587 ) $ (3,422 ) During 2018, $76. November 30, 2018, no |
Note 12 - Income Taxes
Note 12 - Income Taxes | 12 Months Ended |
Nov. 30, 2018 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | NOTE 12 Effective November 2, 2017, 11% 12%, January 1, 2018. 2018 26% 2017, 26.92% 2018, 27% 2019 The U.S. tax reform enacted on December 22, 2017, 35% 21% January 1, 2018. November 30, 2018. $73,135 236% December 31, 2017 November 30, 2018, $13,164 The Company’s Income tax expense Years ended November 30, 2018 2017 2016 Current: Canada $ – $ – $ – Foreign 446 350 346 446 350 346 Deferred: Canada – (43 ) (69 ) Foreign 80 – – 80 (43 ) (69 ) Income tax expense $ 526 $ 307 $ 277 The Company’s Loss before income tax and other items Years ended November 30, 2018 2017 2016 Canada $ (15,018 ) $ (18,825 ) $ (17,763 ) Foreign (15,922 ) (17,783 ) (14,657 ) $ (30,940 ) $ (36,608 ) $ (32,420 ) The Company’s Income tax expense Years ended November 30, 2018 2017 2016 Loss before income taxes and other items $ (30,940 ) $ (36,608 ) $ (32,420 ) Combined federal and provincial statutory tax rate 26.92 % 26 % 26 % Income tax recovery based on statutory income tax rates (8,329 ) (9,518 ) (8,429 ) Reconciling items: Effect of statutory tax rate change 73,135 (2,566 ) – Non-deductible expenditures 2,150 2,485 2,607 Foreign accrual property income 580 (439 ) 862 Effect of different statutory tax rates on earnings or losses of subsidiaries (574 ) (2,690 ) (2,218 ) Effect of tax losses expired – 8 6 Change in valuation allowance on deferred tax assets (66,466 ) 12,954 7,397 Other 30 73 52 Income tax expense $ 526 $ 307 $ 277 Components of the Company’s deferred income tax assets (liabilities) are as follows: At November 30, 2018 2017 Deferred tax income assets: Asset retirement obligation $ 52 $ 75 Net operating loss carry forwards 170,044 223,565 Capital loss carry forwards 48,062 32,988 Mineral properties 637 658 Intangible assets 472 488 Property and equipment 194 205 Investment in affiliates 31,934 44,484 Share issuance costs – 74 Unpaid interest expense 2,105 3,044 Unrealized loss on investments 380 329 Investment tax credit 30 31 Other 775 1,118 254,685 307,059 Valuation allowances (254,072 ) (306,851 ) 613 208 Deferred income tax liabilities: Investment tax credit (8 ) (9 ) Unrealized gain on investments – (22 ) Capitalized assets and other (685 ) (177 ) (693 ) (208 ) Net deferred income tax liabilities $ 80 $ – These amounts reflect the classification and presentation that is reported for each tax jurisdiction in which the Company operates. Net deferred income tax assets and liabilities consist of: At November 30, 2018 2017 Long-term deferred income tax: Assets $ – $ – Liabilities 80 – $ 80 $ – Net operating losses available to offset future taxable income are as follows: Year of Expiry U.S. Canada 2024 $ 1,032 $ – 2025 1,246 – 2026 13,382 18,682 2027 18,493 1,814 2028 85 – 2029 11,223 11,758 2030 10,916 15,646 2031 16,580 15,571 2032 309,772 19,003 2033 14,529 14,340 2034 15,607 7,563 2035 16,383 5,463 2036 14,764 8,095 2037 14,111 7,936 2038 – 7,342 Indefinite 13,164 – $ 471,287 $ 133,213 Under the U.S. tax reform, net operating losses arising in tax years ending after December 31, 2017 $355,162 November 30, 2017: $248,497 Future use of U.S. loss carry-forwards is subject to certain limitations under provisions of the Internal Revenue Code including limitations subject to Section 382, 50% three January 22, 2009 December 31, 2012 three may 382. may may may Management assesses the available positive and negative evidence to estimate if sufficient future taxable income will be generated to use the existing deferred tax asset. Significant pieces of objective negative evidence evaluated included the cumulative loss incurred as of November 30, 2018. November 30, 2018, $254,072 November 30, 2017: $306,851 not no may Uncertain tax position There were no November 30, 2018, 2017 2016. November 30, 2018, 2017 2016, no November 30, 2018 2014 2018 2015 2018 |
Note 13 - Share-based Compensat
Note 13 - Share-based Compensation | 12 Months Ended |
Nov. 30, 2018 | |
Notes to Financial Statements | |
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | NOTE 13 Share incentive awards include a stock option plan for directors, executives, employees and eligible consultants, a PSU plan for executives, employees and eligible consultants and a DSU plan for directors of the Company. Options granted to purchase common shares have exercise prices not November 30, 2018, 25.3 The Company recognized share-based compensation expense (see Note 10 Years ended November 30, 2018 2017 2016 Stock options $ 3,767 $ 5,496 $ 5,855 Performance share unit plan 3,783 4,588 4,184 Deferred share unit plan 177 209 224 $ 7,727 $ 10,293 $ 10,263 Stock options Stock options granted under the Company’s share-based incentive plans generally expire five one third first A summary of stock options outstanding as of November 30, 2018, November 30, 2018 Number of Weighted-average Weighted-average Aggregate November 30, 2017 17,551 $ 3.24 Granted 3,527 3.88 Exercised (2,672 ) 2.62 Expired (130 ) 3.38 Forfeited (393 ) 4.10 November 30, 2018 17,883 $ 3.36 2.00 $ 3,274 Vested and exercisable as of November 30, 2018 13,494 $ 3.14 1.43 $ 3,274 The following table summarizes other stock option-related information: Years ended November 30, 2018 2017 2016 Weighted-average assumptions used to value stock option awards: Expected volatility 50 % 50 % 54 % Expected term of options (years) 3 3 3 Expected dividend rate – – – Risk-free interest rate 1.8 % 1.2 % 0.5 % Expected forfeiture rate 2.3 % 2.5 % 3.0 % Weighted-average grant-date fair value $ 1.35 $ 1.60 $ 1.37 Intrinsic value of options exercised $ 3,744 $ 5,014 $ 1,510 Cash received from options exercised – – – As of November 30, 2018, $1,861 4,389,000 two Performance share units The Company has a PSU plan that provides for the issuance of PSUs in amounts as approved by the Company’s Compensation Committee. Each PSU award entitles the participant to receive one may 0% 150%. may 0% 150% no The value of each PSU granted is estimated at the grant date using a Monte Carlo simulation model. The Monte Carlo simulation model requires the input of subjective assumptions, including the share price volatility of the Company’s stock, as well as comparator index and the correlation of returns between the comparator index and the Company. Expected volatility is based on the historical volatility of the Company’s shares and the comparator index at the grant date. These estimates involve inherent uncertainties and the application of management’s judgment. As a result, if other assumptions had been used, our recorded share-based compensation expense would have been different from that reported. A summary of PSU awards outstanding and activity during the year ended November 30, 2018 Number of Weighted-average Aggregate November 30, 2017 2,176 $ 4.10 Granted 873 3.85 Expired (1,240 ) 3.48 Forfeited (12 ) 4.32 November 30, 2018 1,797 $ 4.39 $ 6,943 During 2018, 1,240,000 no November 30, 2018, 1,797,400 931,400 December 2018 82%, 866,000 $1,890 two The following table summarizes other PSU-related information: Years ended November 30, 2018 2017 2016 Performance multiplier on PSUs vested – % 113 % 140 % Common shares issued (thousands) – 1,513 1,377 Total fair value of common shares issued $ – $ 6,932 $ 5,151 Withholding tax paid on PSUs vested $ – $ 196 $ 4,275 Deferred share units The Company has a DSU plan that provides for the issuance of DSUs in amounts where the Directors receive half of their annual retainer in DSUs and have the option to elect to receive all or a portion of the other half of their annual retainer in DSUs. Each DSU entitles the Directors to receive one 45,103, 48,830 44,770 $4.07, $4.36 $4.92 2018, 2017 2016, 98,160, 27,536 nil 2018, 2017 2016, November 30, 2018, 254,633 |
Note 14 - Share Capital
Note 14 - Share Capital | 12 Months Ended |
Nov. 30, 2018 | |
Notes to Financial Statements | |
Stockholders' Equity Note Disclosure [Text Block] | NOTE 14 Common shares The Company is authorized to issue 1,000,000,000 323,222,840 November 30, 2018, 322,219,187 November 30, 2017. Preferred shares Pursuant to the Company’s Notice of Articles filed under the Business Corporations Act (British Columbia), the Company is authorized to issue 10,000,000 may one November 30, 2018 2017, no |
Note 15 - Reclassifications Out
Note 15 - Reclassifications Out of Accumulated Other Comprehensive Income (Loss) | 12 Months Ended |
Nov. 30, 2018 | |
Notes to Financial Statements | |
Comprehensive Income (Loss) Note [Text Block] | NOTE 15 Unrealized gain Foreign Total November 30, 2017 $ 843 $ (7,018 ) $ (6,175 ) Change in other comprehensive income (loss) before reclassifications (541 ) (4,062 ) (4,603 ) Impairment of marketable equity securities net of $nil tax recovery (1) 76 – 76 Reclassification of cumulative foreign currency translation adjustments (Note 4) – (13,776 ) (13,776 ) Net current-period other comprehensive income (loss) (465 ) (17,838 ) (18,303 ) November 30, 2018 $ 378 $ (24,856 ) $ (24,478 ) ( 1 Accumulated other comprehensive income (loss Other income (expense) There were no Accumulated other comprehensive income (loss) 2017 2016. |
Note 16 - Related Party Transac
Note 16 - Related Party Transactions | 12 Months Ended |
Nov. 30, 2018 | |
Notes to Financial Statements | |
Related Party Transactions Disclosure [Text Block] | NOTE 16 The Company provided technical services to Donlin Gold LLC for $658 2018 $ nil 2017 2016 November 30, 2018, $247 November 30, 2017: $nil Other current assets The Company provided office rental and services to GCP for $nil 2018, $207 2017 $335 2016. November 30, 2017, $3,674 Non-current assets held for sale |
Note 17 - Commitments and Conti
Note 17 - Commitments and Contingencies | 12 Months Ended |
Nov. 30, 2018 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | NOTE 17 General 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 Obligations under operating leases The Company leases certain assets, such as office equipment and office facilities, under operating leases expiring at various dates through 2023. $226 2019, $199 2020, $204 2021, $210 2022, $18 2023, $857. |
Note 18 - Supplemental Cash Flo
Note 18 - Supplemental Cash Flow Information | 12 Months Ended |
Nov. 30, 2018 | |
Notes to Financial Statements | |
Cash Flow, Supplemental Disclosures [Text Block] | NOTE 18 Years ended November 30, 2018 2017 2016 Interest received $ 1,038 $ 1,101 $ 878 Income taxes paid $ 331 $ 343 $ 327 Non-cash Investing Activities During 2018, $88,398 4 |
Note 19 - Unaudited Supplementa
Note 19 - Unaudited Supplementary Data | 12 Months Ended |
Nov. 30, 2018 | |
Notes to Financial Statements | |
Quarterly Financial Information [Text Block] | NOTE 19 Quarterly data The following is a summary of selected quarterly financial information (unaudited): 2018 Q1 Q2 Q3 Q4 Loss from operations $ (6,526 ) $ (7,801 ) $ (6,922 ) $ (6,042 ) Net loss from continuing operations $ (7,962 ) $ (9,237 ) $ (8,043 ) $ (6,224 ) Net loss from discontinued operations (253 ) (394 ) (80,582 ) (70 ) Net loss $ (8,215 ) $ (9,631 ) $ (88,625 ) $ (6,294 ) Net loss per common share, basic and diluted Continuing operations $ (0.03 ) $ (0.03 ) $ (0.02 ) $ (0.02 ) Discontinued operations – – (0.25 ) – $ (0.03 ) $ (0.03 ) $ (0.27 ) $ (0.02 ) 2017 Q1 Q2 Q3 Q4 Loss from operations $ (8,813 ) $ (7,333 ) $ (7,811 ) $ (8,064 ) Net loss from continuing operations $ (9,993 ) $ (8,237 ) $ (9,781 ) $ (8,904 ) Net loss from discontinued operations (150 ) (225 ) (612 ) (1,114 ) Net loss $ (10,143 ) $ (8,462 ) $ (10,393 ) $ (10,018 ) Net loss per common share, basic and diluted Continuing operations $ (0.03 ) $ (0.03 ) $ (0.03 ) $ (0.03 ) Discontinued operations – – – – $ (0.03 ) $ (0.03 ) $ (0.03 ) $ (0.03 ) Significant after-tax items were as follows: Fourth quarter 2018: n/a Third quarter 2018: Loss on sale of Galore Creek, net of tax $80,026 $0.25 Second quarter 2018: n/a First quarter 2018: n/a Fourth quarter 2017: n/a Third quarter 2017: n/a Second quarter 2017: n/a First quarter 2017: n/a |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 12 Months Ended |
Nov. 30, 2018 | |
Accounting Policies [Abstract] | |
Basis of Accounting, Policy [Policy Text Block] | Presentation These Consolidated Financial Statements are presented in United States dollars and have been prepared in accordance with accounting principles generally accepted in the United States (US GAAP). References in these Consolidated Financial Statements and Notes to $ refer to United States dollars and C$ to Canadian dollars. Dollar amounts are in thousands, except for per share amounts. |
Use of Estimates, Policy [Policy Text Block] | Use of estimates The preparation of the Company’s Consolidated Financial Statements in accordance with US GAAP requires the Company to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the Consolidated Financial Statements and the reported amounts of expenses during the reporting period. The more significant areas requiring the use of management estimates and assumptions include: investments in affiliates; mineral properties; notes receivable; contingent notes receivable; income taxes; and share-based compensation. The Company bases its estimates on historical experience and on various other assumptions that are believed to be reasonable under the circumstances. Actual results could differ from the amounts estimated in these Consolidated Financial Statements. |
Consolidation, Policy [Policy Text Block] | Principles of consolidation The Company’s Consolidated Financial Statements include NOVAGOLD RESOURCES INC. and its wholly-owned subsidiaries including, NOVAGOLD U.S. Holdings Inc., NOVAGOLD Resources Alaska Inc., NOVAGOLD USA, Inc., and AGC Resources Inc. All inter-company transactions and balances are eliminated on consolidation. 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. Therefore, gains and losses on U.S. dollar denominated transactions and the effect of translating U.S. dollar denominated balances of Canadian operations are recorded in net loss. The effects of translating the Company’s Canadian operations from the Canadian dollar to the U.S. dollar are recorded in Other comprehensive income (loss). |
Cash and Cash Equivalents, Policy [Policy Text Block] | Cash and cash equivalents Cash and cash equivalents consist of cash balances and highly liquid investments with original maturities of three |
Term Deposits, Policy [Policy Text Block] | Term deposits The Company’s term deposits are classified as held to maturity and recorded at cost. Term deposits are held at Chartered Canadian banks with original maturities of 12 not |
Equity Method Investments [Policy Text Block] | Investment in affiliates Investments in unconsolidated ventures over which the Company has the ability to exercise significant influence, but does not 50/50 not The equity method is a basis of accounting for investments whereby the investment is initially recorded at cost and the carrying value is adjusted thereafter to include the investor’s pro rata share of post-acquisition earnings or losses of the investee, as computed by the consolidation method. Cash funding increases the carrying value of the investment. Profit distributions received or receivable from an investee reduce the carrying value of the investment. Donlin Gold LLC is a non-publicly traded equity investee owning an exploration and development project. Therefore, the Company assesses whether there has been a potential impairment triggering event for other-than-temporary impairment by testing the underlying assets of the equity investee for recoverability and assessing whether there has been a change in the development plan or strategy for the project. If the underlying assets are not |
Mineral Properties, Policy [Policy Text Block] | Mineral properties Mineral property expenditures are expensed as incurred except for expenditures associated with the acquisition of mineral property assets through a business combination or asset acquisition. The Company reviews and evaluates its mineral properties for impairment when events or changes in circumstances indicate that the related carrying amounts may not may |
Income Tax, Policy [Policy Text Block] | Income taxes The Company accounts for income taxes using the liability method, recognizing certain temporary differences between the financial reporting basis of the Company’s liabilities and assets and the related income tax basis for such liabilities and assets. This method generates deferred income tax liabilities and assets for the Company, as measured by the statutory tax rates in effect. The Company derives its deferred income tax charge or benefit by recording the change in deferred income tax liabilities and asset balances for the year. The Company’s deferred income tax assets include certain future tax benefits. The Company records a valuation allowance against any portion of those deferred income tax assets when it believes, based on the weight of available evidence, it is more likely than not not |
Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block] | Share-based payments The Company records share-based compensation awards exchanged for employee services at fair value on the date of the grant and expenses the awards in the Consolidated Statements of Loss over the requisite employee service period. The fair values of stock options are determined using a Black-Scholes option pricing model. The fair values of PSUs are determined using a Monte Carlo valuation model. The Company's estimates may not |
Earnings Per Share, Policy [Policy Text Block] | Net income (loss) per common share Basic and diluted income (loss) per share are presented for Net income (loss). Basic income (loss) per share is computed by dividing Net income (loss) by the weighted-average number of outstanding common shares for the period. Diluted income per share reflects the potential dilution that could occur if securities or other contracts that may |
Reclassification, Policy [Policy Text Block] | Reclassifications On July 25, 2018, 50% 40% July 27, 2018. November 30, 2017, 4. |
New Accounting Pronouncements, Policy [Policy Text Block] | Recently adopted accounting pronouncements Compensation—Stock Compensation In May 2017, No. 2017 09 December 1, 2017, no Recently issued accounting pronouncements Restricted Cash In November 2016, No. 2016 18 December 15, 2017 December 1, 2018 not Statement of Cash Flows In August 2016, No. 2016 15 December 1, 2018, not December 1, 2018 not Leases In February 2016, No. 2016 02 September 2017 No. 2017 13, January 2018 No. 2018 01 July 2018 No. 2018 10 No. 2018 11. December 15, 2018, December 1, 2019. not Classification and Measurement of Financial Instruments In January 2016, No. 2016 01 February 2018 No. 2018 03. not not December 1, 2018. Accumulated other comprehensive loss Accumulated deficit November 30, 2018 $378 Accumulated deficit Fair Value Disclosure Requirements In August 2018, No. 2018 13 December 1, 2020, |
Note 4 - Discontinued Operati_2
Note 4 - Discontinued Operations (Tables) | 12 Months Ended |
Nov. 30, 2018 | |
Notes Tables | |
Disposal Groups, Including Discontinued Operations [Table Text Block] | Years ended November 30, 2018 2017 2016 Equity loss – Galore Creek $ (1,203 ) $ (1,676 ) $ (1,149 ) Income tax expense – (425 ) – Galore Creek operations, net of tax (1,203 ) (2,101 ) (1,149 ) Loss on sale of Galore Creek, net of tax (80,096 ) – – $ (81,299 ) $ (2,101 ) $ (1,149 ) Cash consideration received on closing $ 100,000 Refund of reclamation deposits 4,897 Less closing costs (721 ) 104,176 Fair value of notes receivable (Note 5) 88,398 Net proceeds 192,574 Less book values: Investment in GCP (248,367 ) Copper Canyon mineral property (44,577 ) Reclamation deposits (4,967 ) Reclassification of cumulative foreign currency translation adjustments 13,776 Deferred income tax recovery 11,465 $ (80,096 ) Years ended November 30, 2018 2017 2016 Funding of GCP $ (1,475 ) $ (1,600 ) $ (1,020 ) Net cash proceeds received 99,279 – – Reclamation deposits 4,644 (203 ) – Exploration tax credit – – 1,516 $ 102,448 $ (1,803 ) $ 496 Non-current assets held for sale: Investment in GCP $ 251,461 Copper Canyon mineral property 45,179 Reclamation deposits 5,035 Deferred income tax assets 9,553 $ 311,228 Non-current liabilities held for sale: Deferred income tax liabilities $ 21,170 |
Galore Creek [Member] | |
Notes Tables | |
Equity Method Investments [Table Text Block] | Years ended November 30, 2018 2017 2016 Balance – beginning of period $ 251,461 $ 241,404 $ 242,906 Share of losses Mineral property expenditures – (48 ) (169 ) Care and maintenance expense (1,203 ) (1,628 ) (980 ) (1,203 ) (1,676 ) (1,149 ) Funding 1,475 1,600 1,020 Foreign currency translation (3,366 ) 10,133 (1,373 ) Sale of investment in GCP (248,367 ) – – Balance – end of period $ – $ 251,461 $ 241,404 Current assets: Cash, prepaid expenses and other receivables $ 197 Non-current assets: Mineral property 226,561 Current liabilities: Accounts payable and accrued liabilities (237 ) Non-current liabilities: Reclamation obligation (7,645 ) Net assets $ 218,876 |
Note 6 - Investment in Donlin_2
Note 6 - Investment in Donlin Gold (Tables) | 12 Months Ended |
Nov. 30, 2018 | |
Donlin Gold [Member] | |
Notes Tables | |
Equity Method Investments [Table Text Block] | Years ended November 30, 2018 2017 2016 Balance – beginning of period $ 1,100 $ 951 $ 1,058 Share of losses Mineral property expenditures (8,785 ) (11,139 ) (8,689 ) Depreciation (13 ) (80 ) (130 ) (8,798 ) (11,219 ) (8,819 ) Funding 8,907 11,368 8,712 Balance – end of period $ 1,209 $ 1,100 $ 951 At November 30, 2018 2017 Current assets: Cash, prepaid expenses and other receivables $ 1,872 $ 2,075 Non-current assets: Property and equipment 10 23 Non-current assets: Mineral property 32,692 32,692 Current liabilities: Accounts payable and accrued liabilities (673 ) (998 ) Non-current liabilities: Reclamation obligation (692 ) (692 ) Net assets $ 33,209 $ 33,100 |
Note 7 - Other Assets (Tables)
Note 7 - Other Assets (Tables) | 12 Months Ended |
Nov. 30, 2018 | |
Notes Tables | |
Schedule of Other Assets [Table Text Block] | At November 30, 2018 2017 Other current assets: Accounts and interest receivable $ 1,781 $ 303 Prepaid expenses 598 580 $ 2,379 $ 883 Other long-term assets: Marketable equity securities $ 839 $ 1,448 Office equipment 39 48 $ 878 $ 1,496 |
Note 10 - General and Adminis_2
Note 10 - General and Administrative (Tables) | 12 Months Ended |
Nov. 30, 2018 | |
Notes Tables | |
General and Administrative Expenses [Table Text Block] | Years ended November 30, 2018 2017 2016 Share-based compensation (Note 13) $ 7,727 $ 10,293 $ 10,263 Salaries and benefits 6,531 6,470 6,167 Office expense 2,346 2,140 2,035 Professional fees 949 873 680 Corporate communications and regulatory 918 992 1,001 Depreciation 22 34 33 $ 18,493 $ 20,802 $ 20,179 |
Note 11 - Other Income (Expen_2
Note 11 - Other Income (Expense) (Tables) | 12 Months Ended |
Nov. 30, 2018 | |
Notes Tables | |
Schedule of Other Nonoperating Income (Expense) [Table Text Block] | Years ended November 30, 2018 2017 2016 Interest income $ 1,998 $ 1,114 $ 877 Accretion of notes receivable 1,061 58 70 Interest expense on promissory note (6,461 ) (5,228 ) (4,551 ) Foreign exchange gain (loss) (171 ) (531 ) 182 Write-down of investments (76 ) – – $ (3,649 ) $ (4,587 ) $ (3,422 ) |
Note 12 - Income Taxes (Tables)
Note 12 - Income Taxes (Tables) | 12 Months Ended |
Nov. 30, 2018 | |
Notes Tables | |
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | Years ended November 30, 2018 2017 2016 Current: Canada $ – $ – $ – Foreign 446 350 346 446 350 346 Deferred: Canada – (43 ) (69 ) Foreign 80 – – 80 (43 ) (69 ) Income tax expense $ 526 $ 307 $ 277 |
Schedule of Income before Income Tax, Domestic and Foreign [Table Text Block] | Years ended November 30, 2018 2017 2016 Canada $ (15,018 ) $ (18,825 ) $ (17,763 ) Foreign (15,922 ) (17,783 ) (14,657 ) $ (30,940 ) $ (36,608 ) $ (32,420 ) |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | Years ended November 30, 2018 2017 2016 Loss before income taxes and other items $ (30,940 ) $ (36,608 ) $ (32,420 ) Combined federal and provincial statutory tax rate 26.92 % 26 % 26 % Income tax recovery based on statutory income tax rates (8,329 ) (9,518 ) (8,429 ) Reconciling items: Effect of statutory tax rate change 73,135 (2,566 ) – Non-deductible expenditures 2,150 2,485 2,607 Foreign accrual property income 580 (439 ) 862 Effect of different statutory tax rates on earnings or losses of subsidiaries (574 ) (2,690 ) (2,218 ) Effect of tax losses expired – 8 6 Change in valuation allowance on deferred tax assets (66,466 ) 12,954 7,397 Other 30 73 52 Income tax expense $ 526 $ 307 $ 277 |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | At November 30, 2018 2017 Deferred tax income assets: Asset retirement obligation $ 52 $ 75 Net operating loss carry forwards 170,044 223,565 Capital loss carry forwards 48,062 32,988 Mineral properties 637 658 Intangible assets 472 488 Property and equipment 194 205 Investment in affiliates 31,934 44,484 Share issuance costs – 74 Unpaid interest expense 2,105 3,044 Unrealized loss on investments 380 329 Investment tax credit 30 31 Other 775 1,118 254,685 307,059 Valuation allowances (254,072 ) (306,851 ) 613 208 Deferred income tax liabilities: Investment tax credit (8 ) (9 ) Unrealized gain on investments – (22 ) Capitalized assets and other (685 ) (177 ) (693 ) (208 ) Net deferred income tax liabilities $ 80 $ – At November 30, 2018 2017 Long-term deferred income tax: Assets $ – $ – Liabilities 80 – $ 80 $ – |
Summary of Operating Loss Carryforwards [Table Text Block] | Year of Expiry U.S. Canada 2024 $ 1,032 $ – 2025 1,246 – 2026 13,382 18,682 2027 18,493 1,814 2028 85 – 2029 11,223 11,758 2030 10,916 15,646 2031 16,580 15,571 2032 309,772 19,003 2033 14,529 14,340 2034 15,607 7,563 2035 16,383 5,463 2036 14,764 8,095 2037 14,111 7,936 2038 – 7,342 Indefinite 13,164 – $ 471,287 $ 133,213 |
Note 13 - Share-based Compens_2
Note 13 - Share-based Compensation (Tables) | 12 Months Ended |
Nov. 30, 2018 | |
Notes Tables | |
Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Table Text Block] | Years ended November 30, 2018 2017 2016 Stock options $ 3,767 $ 5,496 $ 5,855 Performance share unit plan 3,783 4,588 4,184 Deferred share unit plan 177 209 224 $ 7,727 $ 10,293 $ 10,263 |
Share-based Compensation, Stock Options, Activity [Table Text Block] | Number of Weighted-average Weighted-average Aggregate November 30, 2017 17,551 $ 3.24 Granted 3,527 3.88 Exercised (2,672 ) 2.62 Expired (130 ) 3.38 Forfeited (393 ) 4.10 November 30, 2018 17,883 $ 3.36 2.00 $ 3,274 Vested and exercisable as of November 30, 2018 13,494 $ 3.14 1.43 $ 3,274 |
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | Years ended November 30, 2018 2017 2016 Weighted-average assumptions used to value stock option awards: Expected volatility 50 % 50 % 54 % Expected term of options (years) 3 3 3 Expected dividend rate – – – Risk-free interest rate 1.8 % 1.2 % 0.5 % Expected forfeiture rate 2.3 % 2.5 % 3.0 % Weighted-average grant-date fair value $ 1.35 $ 1.60 $ 1.37 Intrinsic value of options exercised $ 3,744 $ 5,014 $ 1,510 Cash received from options exercised – – – |
Schedule of Share-based Compensation, Performance Share Units, Activity [Table Text Block] | Number of Weighted-average Aggregate November 30, 2017 2,176 $ 4.10 Granted 873 3.85 Expired (1,240 ) 3.48 Forfeited (12 ) 4.32 November 30, 2018 1,797 $ 4.39 $ 6,943 |
Other PSU-related Information [Table Text Block] | Years ended November 30, 2018 2017 2016 Performance multiplier on PSUs vested – % 113 % 140 % Common shares issued (thousands) – 1,513 1,377 Total fair value of common shares issued $ – $ 6,932 $ 5,151 Withholding tax paid on PSUs vested $ – $ 196 $ 4,275 |
Note 15 - Reclassifications O_2
Note 15 - Reclassifications Out of Accumulated Other Comprehensive Income (Loss) (Tables) | 12 Months Ended |
Nov. 30, 2018 | |
Notes Tables | |
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | Unrealized gain Foreign Total November 30, 2017 $ 843 $ (7,018 ) $ (6,175 ) Change in other comprehensive income (loss) before reclassifications (541 ) (4,062 ) (4,603 ) Impairment of marketable equity securities net of $nil tax recovery (1) 76 – 76 Reclassification of cumulative foreign currency translation adjustments (Note 4) – (13,776 ) (13,776 ) Net current-period other comprehensive income (loss) (465 ) (17,838 ) (18,303 ) November 30, 2018 $ 378 $ (24,856 ) $ (24,478 ) |
Note 18 - Supplemental Cash F_2
Note 18 - Supplemental Cash Flow Information (Tables) | 12 Months Ended |
Nov. 30, 2018 | |
Notes Tables | |
Schedule of Cash Flow, Supplemental Disclosures [Table Text Block] | Years ended November 30, 2018 2017 2016 Interest received $ 1,038 $ 1,101 $ 878 Income taxes paid $ 331 $ 343 $ 327 |
Note 19 - Unaudited Supplemen_2
Note 19 - Unaudited Supplementary Data (Tables) | 12 Months Ended |
Nov. 30, 2018 | |
Notes Tables | |
Quarterly Financial Information [Table Text Block] | 2018 Q1 Q2 Q3 Q4 Loss from operations $ (6,526 ) $ (7,801 ) $ (6,922 ) $ (6,042 ) Net loss from continuing operations $ (7,962 ) $ (9,237 ) $ (8,043 ) $ (6,224 ) Net loss from discontinued operations (253 ) (394 ) (80,582 ) (70 ) Net loss $ (8,215 ) $ (9,631 ) $ (88,625 ) $ (6,294 ) Net loss per common share, basic and diluted Continuing operations $ (0.03 ) $ (0.03 ) $ (0.02 ) $ (0.02 ) Discontinued operations – – (0.25 ) – $ (0.03 ) $ (0.03 ) $ (0.27 ) $ (0.02 ) 2017 Q1 Q2 Q3 Q4 Loss from operations $ (8,813 ) $ (7,333 ) $ (7,811 ) $ (8,064 ) Net loss from continuing operations $ (9,993 ) $ (8,237 ) $ (9,781 ) $ (8,904 ) Net loss from discontinued operations (150 ) (225 ) (612 ) (1,114 ) Net loss $ (10,143 ) $ (8,462 ) $ (10,393 ) $ (10,018 ) Net loss per common share, basic and diluted Continuing operations $ (0.03 ) $ (0.03 ) $ (0.03 ) $ (0.03 ) Discontinued operations – – – – $ (0.03 ) $ (0.03 ) $ (0.03 ) $ (0.03 ) |
Note 1 - The Company (Details T
Note 1 - The Company (Details Textual) - USD ($) $ in Thousands | Jul. 27, 2018 | Nov. 30, 2018 |
Revenues, Total | $ 0 | |
GCP [Member] | ||
Discontinued Operation, Ownership Percentage, Sold | 50.00% | |
Copper Canyon Property [Member] | ||
Discontinued Operation, Ownership Percentage, Sold | 40.00% | |
Donlin Gold [Member] | ||
Equity Method Investment, Ownership Percentage | 50.00% |
Note 2 - Summary of Significa_2
Note 2 - Summary of Significant Accounting Policies (Details Textual) - USD ($) $ in Thousands | Jul. 27, 2018 | Dec. 01, 2018 |
Retained Earnings [Member] | Accounting Standards Update 2016-01 [Member] | Subsequent Event [Member] | ||
Cumulative Effect of New Accounting Principle in Period of Adoption | $ 378 | |
AOCI Attributable to Parent [Member] | Accounting Standards Update 2016-01 [Member] | Subsequent Event [Member] | ||
Cumulative Effect of New Accounting Principle in Period of Adoption | $ (378) | |
GCP [Member] | ||
Discontinued Operation, Ownership Percentage, Sold | 50.00% | |
Copper Canyon Property [Member] | ||
Discontinued Operation, Ownership Percentage, Sold | 40.00% |
Note 4 - Discontinued Operati_3
Note 4 - Discontinued Operations (Details Textual) $ in Thousands | Jul. 27, 2018USD ($) | Nov. 30, 2018USD ($) |
Financing Receivable, Net, Total | $ 89,459 | |
Galore Creek [Member] | ||
Equity Method Investment, Ownership Percentage | 50.00% | |
Unconsolidated Ventures, Number of Directors | 4 | |
Unconsolidated Ventures, Number of Directors, Selected By the Reporting Entity | 2 | |
Galore Creek [Member] | Teck [Member] | ||
Equity Method Investment, Ownership Percentage | 50.00% | |
Unconsolidated Ventures, Number of Directors, Selected By the Reporting Entity | 2 | |
Note Receivable Upon Completion of Galore Creek Project Pre-feasibility [Member] | ||
Financing Receivable, Net, Total | $ 75,000 | |
Note Receivable Upon Completion of Galore Creek Project Feasibility [Member] | ||
Financing Receivable, Net, Total | 25,000 | |
Note Receivable Upon Approval of Galore Creek Project Construction Plan [Member] | ||
Financing Receivable, Net, Total | $ 75,000 | |
GCP [Member] | ||
Discontinued Operation, Ownership Percentage, Sold | 50.00% | |
Galore Creek [Member] | ||
Proceeds from Divestiture of Interest in Subsidiaries and Affiliates, Total | $ 100,000 |
Note 4 - Discontinued Operati_4
Note 4 - Discontinued Operations - Net Loss From Discontinued Operations (Details) - USD ($) $ in Thousands | Jul. 27, 2018 | Nov. 30, 2018 | Aug. 31, 2018 | May 31, 2018 | Feb. 28, 2018 | Nov. 30, 2017 | Aug. 31, 2017 | May 31, 2017 | Feb. 28, 2017 | Nov. 30, 2018 | Nov. 30, 2017 | Nov. 30, 2016 | |||
$ (70) | $ (80,582) | $ (394) | $ (253) | $ (1,114) | $ (612) | $ (225) | $ (150) | $ (81,299) | $ (2,101) | [1],[2] | $ (1,149) | [1],[2] | |||
102,448 | (1,803) | [2] | 496 | [2] | |||||||||||
311,228 | [3] | 311,228 | [3] | ||||||||||||
Galore Creek [Member] | |||||||||||||||
Cash consideration received on closing | $ 100,000 | ||||||||||||||
Galore Creek [Member] | Discontinued Operations, Disposed of by Sale [Member] | |||||||||||||||
Equity loss – Galore Creek | (1,203) | ||||||||||||||
Income tax expense | |||||||||||||||
Galore Creek operations, net of tax | (1,203) | ||||||||||||||
Loss on sale of Galore Creek, net of tax | $ (80,026) | (80,096) | |||||||||||||
(81,299) | |||||||||||||||
Cash consideration received on closing | 100,000 | ||||||||||||||
Refund of reclamation deposits | 4,897 | ||||||||||||||
Less closing costs | (721) | ||||||||||||||
104,176 | |||||||||||||||
Fair value of notes receivable (Note 5) | 88,398 | ||||||||||||||
Net proceeds | 192,574 | ||||||||||||||
Reclamation deposits | (4,967) | ||||||||||||||
Reclassification of cumulative foreign currency translation adjustments | 13,776 | ||||||||||||||
Deferred income tax recovery | 11,465 | ||||||||||||||
Funding of GCP | (1,475) | (1,600) | (1,020) | ||||||||||||
Net cash proceeds received | 99,279 | ||||||||||||||
Reclamation deposits | 4,644 | (203) | |||||||||||||
Exploration tax credit | 1,516 | ||||||||||||||
102,448 | (1,803) | 496 | |||||||||||||
Galore Creek [Member] | Discontinued Operations, Disposed of by Sale [Member] | GCP [Member] | |||||||||||||||
Investment in GCP | (248,367) | ||||||||||||||
Galore Creek [Member] | Discontinued Operations, Disposed of by Sale [Member] | Copper Canyon Property [Member] | |||||||||||||||
Copper Canyon mineral property | $ (44,577) | ||||||||||||||
Galore Creek [Member] | Discontinued Operations, Held-for-sale [Member] | |||||||||||||||
Equity loss – Galore Creek | (1,676) | (1,149) | |||||||||||||
Income tax expense | 425 | ||||||||||||||
Galore Creek operations, net of tax | (2,101) | (1,149) | |||||||||||||
Loss on sale of Galore Creek, net of tax | |||||||||||||||
(2,101) | $ (1,149) | ||||||||||||||
Reclamation deposits | 5,035 | 5,035 | |||||||||||||
Deferred income tax assets | 9,553 | 9,553 | |||||||||||||
311,228 | 311,228 | ||||||||||||||
Deferred income tax liabilities | 21,170 | 21,170 | |||||||||||||
Galore Creek [Member] | Discontinued Operations, Held-for-sale [Member] | GCP [Member] | |||||||||||||||
Investment in GCP | 251,461 | 251,461 | |||||||||||||
Galore Creek [Member] | Discontinued Operations, Held-for-sale [Member] | Copper Canyon Property [Member] | |||||||||||||||
Copper Canyon mineral property | $ 45,179 | $ 45,179 | |||||||||||||
[1] | See note 4 - Discontinued operations | ||||||||||||||
[2] | See note 4 - Discontinued operations | ||||||||||||||
[3] | See note 4 - Discontinued operations |
Note 4 - Discontinued Operati_5
Note 4 - Discontinued Operations - Summary of the Company's Investment in GCP (Details) - USD ($) $ in Thousands | 12 Months Ended | ||||
Nov. 30, 2018 | Nov. 30, 2017 | Nov. 30, 2016 | |||
$ (8,798) | $ (11,219) | [1],[2] | $ (8,819) | [1],[2] | |
Galore Creek [Member] | |||||
Balance | 251,461 | 241,404 | 242,906 | ||
Mineral property expenditures | (48) | (169) | |||
Care and maintenance expense | (1,203) | (1,628) | (980) | ||
(1,203) | (1,676) | (1,149) | |||
Funding | 1,475 | 1,600 | 1,020 | ||
Foreign currency translation | (3,366) | 10,133 | (1,373) | ||
Investment in GCP | (248,367) | ||||
Balance | $ 251,461 | $ 241,404 | |||
Current assets: Cash, prepaid expenses and other receivables | 197 | ||||
Non-current assets: Mineral property | 226,561 | ||||
Current liabilities: Accounts payable and accrued liabilities | (237) | ||||
Non-current liabilities: Reclamation obligation | (7,645) | ||||
Net assets | $ 218,876 | ||||
[1] | See note 4 - Discontinued operations | ||||
[2] | See note 4 - Discontinued operations |
Note 5 - Notes Receivable (Deta
Note 5 - Notes Receivable (Details Textual) - USD ($) $ in Thousands | Jul. 27, 2018 | Nov. 30, 2018 |
Financing Receivable, Net, Total | $ 89,459 | |
Notes Receivable, Fair Value Disclosure | $ 88,398 | |
Financing Receivable, Accumulated Accretion | 1,061 | |
Note Receivable Upon Completion of Galore Creek Project Pre-feasibility [Member] | ||
Financing Receivable, Net, Total | 75,000 | |
Notes Receivable, Fair Value Disclosure | $ 75,000 | |
Receivable Instrument, Term | 3 years | |
Note Receivable Upon Completion of Galore Creek Project Feasibility [Member] | ||
Financing Receivable, Net, Total | $ 25,000 | |
Notes Receivable, Fair Value Disclosure | $ 25,000 | |
Receivable Instrument, Term | 5 years | |
Receivable Instrument, Discount Rate | 3.60% | |
Note Receivable Upon Approval of Galore Creek Project Construction Plan [Member] | ||
Financing Receivable, Net, Total | $ 75,000 | |
Notes Receivable, Fair Value Disclosure | $ 0 |
Note 6 - Investment in Donlin_3
Note 6 - Investment in Donlin Gold (Details Textual) - Donlin Gold [Member] $ in Millions | Nov. 30, 2018USD ($) |
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 6 - Investment in Donlin_4
Note 6 - Investment in Donlin Gold - Summary of the Company's Investment in Donlin Gold LLC (Details) - USD ($) $ in Thousands | 12 Months Ended | ||||
Nov. 30, 2018 | Nov. 30, 2017 | Nov. 30, 2016 | |||
$ (8,798) | $ (11,219) | [1],[2] | $ (8,819) | [1],[2] | |
Donlin Gold [Member] | |||||
Balance | 1,100 | 951 | 1,058 | ||
Mineral property expenditures | (8,785) | (11,139) | (8,689) | ||
Depreciation | (13) | (80) | (130) | ||
(8,798) | (11,219) | (8,819) | |||
Funding | 8,907 | 11,368 | 8,712 | ||
Balance | 1,209 | 1,100 | $ 951 | ||
Current assets: Cash, prepaid expenses and other receivables | 1,872 | 2,075 | |||
Non-current assets: Property and equipment | 10 | 23 | |||
Non-current assets: Mineral property | 32,692 | 32,692 | |||
Current liabilities: Accounts payable and accrued liabilities | (673) | (998) | |||
Non-current liabilities: Reclamation obligation | (692) | (692) | |||
Net assets | $ 33,209 | $ 33,100 | |||
[1] | See note 4 - Discontinued operations | ||||
[2] | See note 4 - Discontinued operations |
Note 7 - Other Assets - Carryin
Note 7 - Other Assets - Carrying Amounts of Other Assets (Details) - USD ($) $ in Thousands | Nov. 30, 2018 | Nov. 30, 2017 | |
Accounts and interest receivable | $ 1,781 | $ 303 | |
Prepaid expenses | 598 | 580 | |
2,379 | 883 | [1] | |
Marketable equity securities | 839 | 1,448 | |
Office equipment | 39 | 48 | |
$ 878 | $ 1,496 | [1] | |
[1] | See note 4 - Discontinued operations |
Note 8 - Promissory Note (Detai
Note 8 - Promissory Note (Details Textual) - Barrick [Member] - Notes Payable, Other Payables [Member] $ in Thousands | 12 Months Ended |
Nov. 30, 2018USD ($) | |
Notes Payable, Total | $ 96,501 |
Debt Instrument, Face Amount | 51,576 |
Interest Payable | $ 44,925 |
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 9 - Fair Value Accounting
Note 9 - Fair Value Accounting (Details Textual) - USD ($) $ in Thousands | Nov. 30, 2018 | Nov. 30, 2017 |
Fair Value, Inputs, Level 1 [Member] | ||
Available-for-sale Securities, Equity Securities | $ 839 | $ 1,448 |
Note 10 - General and Adminis_3
Note 10 - General and Administrative - Summary of General and Administrative Expenses (Details) - USD ($) $ in Thousands | 12 Months Ended | |||||
Nov. 30, 2018 | Nov. 30, 2017 | Nov. 30, 2016 | ||||
Share-based compensation (Note 13) | $ 7,727 | $ 10,293 | [1] | $ 10,263 | [1] | |
Salaries and benefits | 6,531 | 6,470 | 6,167 | |||
Office expense | 2,346 | 2,140 | 2,035 | |||
Professional fees | 949 | 873 | 680 | |||
Corporate communications and regulatory | 918 | 992 | 1,001 | |||
Depreciation | 22 | 34 | 33 | |||
[2] | $ 18,493 | $ 20,802 | $ 20,179 | |||
[1] | See note 4 - Discontinued operations | |||||
[2] | See note 4 - Discontinued operations |
Note 11 - Other Income (Expen_3
Note 11 - Other Income (Expense) (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | ||||
Nov. 30, 2018 | Nov. 30, 2017 | [1] | Nov. 30, 2016 | [1] | |
Other than Temporary Impairment Losses, Investments, Total | $ 76 | ||||
Marketable Securities, Unrealized Gain (Loss), Total | $ 0 | ||||
[1] | See note 4 - Discontinued operations |
Note 11 - Other Income (Expen_4
Note 11 - Other Income (Expense) - Summary of Other Income (Expense) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||||
Nov. 30, 2018 | Nov. 30, 2017 | Nov. 30, 2016 | |||
Interest income | $ 1,998 | $ 1,114 | $ 877 | ||
Accretion of notes receivable | 1,061 | 58 | 70 | ||
Interest expense on promissory note | (6,461) | (5,228) | (4,551) | ||
Foreign exchange gain (loss) | (171) | (531) | 182 | ||
Write-down of investments | (76) | [1] | [1] | ||
$ (3,649) | $ (4,587) | [2] | $ (3,422) | [2] | |
[1] | See note 4 - Discontinued operations | ||||
[2] | See note 4 - Discontinued operations |
Note 12 - Income Taxes (Details
Note 12 - Income Taxes (Details Textual) - USD ($) $ in Thousands | Dec. 22, 2017 | Nov. 01, 2017 | Nov. 30, 2019 | Dec. 31, 2018 | Nov. 30, 2018 | Nov. 30, 2017 | Nov. 30, 2016 | Nov. 30, 2018 |
Effective Income Tax Rate Reconciliation, Combined Federal and Provincial Statutory Income Tax Rate, Percent | 26.92% | 26.00% | 26.00% | |||||
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 35.00% | 21.00% | ||||||
Income Tax Expense (Benefit), Continuing Operations, Adjustment of Deferred Tax (Asset) Liability | $ 73,135 | |||||||
Effective Income Tax Rate Reconciliation, Change in Enacted Tax Rate, Percent | 236.00% | |||||||
Deferred Tax Assets, Valuation Allowance, Total | $ 254,072 | $ 306,851 | $ 254,072 | |||||
Unrecognized Tax Benefits, Ending Balance | 0 | 0 | $ 0 | 0 | ||||
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued, Total | $ 0 | 0 | $ 0 | 0 | ||||
Effective Income Tax Rate Reconciliation, Change in Deferred Tax Assets Valuation Allowance, Percent | (236.00%) | |||||||
Capital Loss Carryforward [Member] | ||||||||
Tax Credit Carryforward, Amount | $ 355,162 | $ 248,497 | 355,162 | |||||
Indefinite [Member] | ||||||||
Operating Loss Carryforwards, Total | $ 13,164 | $ 13,164 | ||||||
Scenario, Forecast [Member] | ||||||||
Effective Income Tax Rate Reconciliation, Combined Federal and Provincial Statutory Income Tax Rate, Percent | 27.00% | |||||||
Tax and Revenue Administration, British Columbia [Member] | ||||||||
Effective Income Tax Rate Reconciliation, State and Local Income Taxes, Percent | 11.00% | 12.00% |
Note 12 - Income Taxes - Compon
Note 12 - Income Taxes - Components of Income Tax Expense (Benefit) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||||
Nov. 30, 2018 | Nov. 30, 2017 | Nov. 30, 2016 | |||
Current: | |||||
Canada | |||||
Foreign | 446 | 350 | 346 | ||
446 | 350 | 346 | |||
Deferred: | |||||
Canada | (43) | (69) | |||
Foreign | 80 | ||||
80 | (43) | [1] | (69) | [1] | |
Income tax expense | $ 526 | $ 307 | [2] | $ 277 | [2] |
[1] | See note 4 - Discontinued operations | ||||
[2] | See note 4 - Discontinued operations |
Note 12 - Income Taxes - Loss B
Note 12 - Income Taxes - Loss Before Income Tax (Details) - USD ($) $ in Thousands | 12 Months Ended | ||||
Nov. 30, 2018 | Nov. 30, 2017 | Nov. 30, 2016 | |||
Canada | $ (15,018) | $ (18,825) | $ (17,763) | ||
Foreign | (15,922) | (17,783) | (14,657) | ||
$ (30,940) | $ (36,608) | [1] | $ (32,420) | [1] | |
[1] | See note 4 - Discontinued operations |
Note 12 - Income Taxes - Effect
Note 12 - Income Taxes - Effective Income Tax Rate Reconciliation (Details) - USD ($) $ in Thousands | 12 Months Ended | ||||
Nov. 30, 2018 | Nov. 30, 2017 | Nov. 30, 2016 | |||
Loss before income taxes and other items | $ (30,940) | $ (36,608) | [1] | $ (32,420) | [1] |
Combined federal and provincial statutory tax rate | 26.92% | 26.00% | 26.00% | ||
Income tax recovery based on statutory income tax rates | $ (8,329) | $ (9,518) | $ (8,429) | ||
Reconciling items: | |||||
Effect of statutory tax rate change | 73,135 | (2,566) | |||
Non-deductible expenditures | 2,150 | 2,485 | 2,607 | ||
Foreign accrual property income | 580 | (439) | 862 | ||
Effect of different statutory tax rates on earnings or losses of subsidiaries | (574) | (2,690) | (2,218) | ||
Effect of tax losses expired | 8 | 6 | |||
Change in valuation allowance on deferred tax assets | (66,466) | 12,954 | 7,397 | ||
Other | 30 | 73 | 52 | ||
Income tax expense | $ 526 | $ 307 | [1] | $ 277 | [1] |
[1] | See note 4 - Discontinued operations |
Note 12 - Income Taxes - Comp_2
Note 12 - Income Taxes - Components of the Company's Deferred Income Tax Assets (Liabilities) (Details) - USD ($) $ in Thousands | Nov. 30, 2018 | Nov. 30, 2017 |
Asset retirement obligation | $ 52 | $ 75 |
Net operating loss carry forwards | 170,044 | 223,565 |
Capital loss carry forwards | 48,062 | 32,988 |
Mineral properties | 637 | 658 |
Intangible assets | 472 | 488 |
Property and equipment | 194 | 205 |
Investment in affiliates | 31,934 | 44,484 |
Share issuance costs | 74 | |
Unpaid interest expense | 2,105 | 3,044 |
Unrealized loss on investments | 380 | 329 |
Investment tax credit | 30 | 31 |
Other | 775 | 1,118 |
254,685 | 307,059 | |
Valuation allowances | (254,072) | (306,851) |
613 | 208 | |
Investment tax credit | (8) | (9) |
Unrealized gain on investments | (22) | |
Capitalized assets and other | (685) | (177) |
(693) | (208) | |
Net deferred income tax liabilities | 80 | |
Long-term deferred income tax: | ||
Assets | ||
Liabilities | 80 | |
$ 80 |
Note 12 - Income Taxes - Summar
Note 12 - Income Taxes - Summary of Operating Loss Carryforwards (Details) $ in Thousands | Nov. 30, 2018USD ($) |
Indefinite [Member] | |
Net operating loss carry-forwards | $ 13,164 |
Foreign Tax Authority [Member] | Internal Revenue Service (IRS) [Member] | |
Net operating loss carry-forwards | 471,287 |
Foreign Tax Authority [Member] | Internal Revenue Service (IRS) [Member] | Expiring in 2024 [Member] | |
Net operating loss carry-forwards | 1,032 |
Foreign Tax Authority [Member] | Internal Revenue Service (IRS) [Member] | Expiring in 2025 [Member] | |
Net operating loss carry-forwards | 1,246 |
Foreign Tax Authority [Member] | Internal Revenue Service (IRS) [Member] | Expiring in 2026 [Member] | |
Net operating loss carry-forwards | 13,382 |
Foreign Tax Authority [Member] | Internal Revenue Service (IRS) [Member] | Expiring in 2027 [Member] | |
Net operating loss carry-forwards | 18,493 |
Foreign Tax Authority [Member] | Internal Revenue Service (IRS) [Member] | Expiring in 2028 [Member] | |
Net operating loss carry-forwards | 85 |
Foreign Tax Authority [Member] | Internal Revenue Service (IRS) [Member] | Expiring in 2029 [Member] | |
Net operating loss carry-forwards | 11,223 |
Foreign Tax Authority [Member] | Internal Revenue Service (IRS) [Member] | Expiring in 2030 [Member] | |
Net operating loss carry-forwards | 10,916 |
Foreign Tax Authority [Member] | Internal Revenue Service (IRS) [Member] | Expiring in 2031 [Member] | |
Net operating loss carry-forwards | 16,580 |
Foreign Tax Authority [Member] | Internal Revenue Service (IRS) [Member] | Expiring in 2032 [Member] | |
Net operating loss carry-forwards | 309,772 |
Foreign Tax Authority [Member] | Internal Revenue Service (IRS) [Member] | Expiring in 2033 [Member] | |
Net operating loss carry-forwards | 14,529 |
Foreign Tax Authority [Member] | Internal Revenue Service (IRS) [Member] | Expiring in 2034 [Member] | |
Net operating loss carry-forwards | 15,607 |
Foreign Tax Authority [Member] | Internal Revenue Service (IRS) [Member] | Expiring in 2035 [Member] | |
Net operating loss carry-forwards | 16,383 |
Foreign Tax Authority [Member] | Internal Revenue Service (IRS) [Member] | Expiring in 2036 [Member] | |
Net operating loss carry-forwards | 14,764 |
Foreign Tax Authority [Member] | Internal Revenue Service (IRS) [Member] | Expiring in 2037 [Member] | |
Net operating loss carry-forwards | 14,111 |
Foreign Tax Authority [Member] | Internal Revenue Service (IRS) [Member] | Expiring in 2038 [Member] | |
Net operating loss carry-forwards | |
Foreign Tax Authority [Member] | Internal Revenue Service (IRS) [Member] | Indefinite [Member] | |
Net operating loss carry-forwards | 13,164 |
Domestic Tax Authority [Member] | Canada Revenue Agency [Member] | |
Net operating loss carry-forwards | 133,213 |
Domestic Tax Authority [Member] | Canada Revenue Agency [Member] | Expiring in 2024 [Member] | |
Net operating loss carry-forwards | |
Domestic Tax Authority [Member] | Canada Revenue Agency [Member] | Expiring in 2025 [Member] | |
Net operating loss carry-forwards | |
Domestic Tax Authority [Member] | Canada Revenue Agency [Member] | Expiring in 2026 [Member] | |
Net operating loss carry-forwards | 18,682 |
Domestic Tax Authority [Member] | Canada Revenue Agency [Member] | Expiring in 2027 [Member] | |
Net operating loss carry-forwards | 1,814 |
Domestic Tax Authority [Member] | Canada Revenue Agency [Member] | Expiring in 2028 [Member] | |
Net operating loss carry-forwards | |
Domestic Tax Authority [Member] | Canada Revenue Agency [Member] | Expiring in 2029 [Member] | |
Net operating loss carry-forwards | 11,758 |
Domestic Tax Authority [Member] | Canada Revenue Agency [Member] | Expiring in 2030 [Member] | |
Net operating loss carry-forwards | 15,646 |
Domestic Tax Authority [Member] | Canada Revenue Agency [Member] | Expiring in 2031 [Member] | |
Net operating loss carry-forwards | 15,571 |
Domestic Tax Authority [Member] | Canada Revenue Agency [Member] | Expiring in 2032 [Member] | |
Net operating loss carry-forwards | 19,003 |
Domestic Tax Authority [Member] | Canada Revenue Agency [Member] | Expiring in 2033 [Member] | |
Net operating loss carry-forwards | 14,340 |
Domestic Tax Authority [Member] | Canada Revenue Agency [Member] | Expiring in 2034 [Member] | |
Net operating loss carry-forwards | 7,563 |
Domestic Tax Authority [Member] | Canada Revenue Agency [Member] | Expiring in 2035 [Member] | |
Net operating loss carry-forwards | 5,463 |
Domestic Tax Authority [Member] | Canada Revenue Agency [Member] | Expiring in 2036 [Member] | |
Net operating loss carry-forwards | 8,095 |
Domestic Tax Authority [Member] | Canada Revenue Agency [Member] | Expiring in 2037 [Member] | |
Net operating loss carry-forwards | 7,936 |
Domestic Tax Authority [Member] | Canada Revenue Agency [Member] | Expiring in 2038 [Member] | |
Net operating loss carry-forwards | 7,342 |
Domestic Tax Authority [Member] | Canada Revenue Agency [Member] | Indefinite [Member] | |
Net operating loss carry-forwards |
Note 13 - Share-based Compens_3
Note 13 - Share-based Compensation (Details Textual) - USD ($) $ / shares in Units, $ in Thousands | 1 Months Ended | 12 Months Ended | ||
Dec. 31, 2018 | Nov. 30, 2018 | Nov. 30, 2017 | Nov. 30, 2016 | |
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | 25,300,000 | |||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Not yet Recognized, Stock Options | $ 1,861 | |||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Not yet Recognized, Stock Options, Shares | 4,389,000 | |||
Employee Stock Option [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period | 5 years | |||
Share-based Compensation Arrangement by Share-based Payment Award, Portion Vesting Per Year | 0.3333% | |||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | 2 years | |||
Performance Share Units [Member] | ||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | 2 years | |||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Common Shares Per Award | 1 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Expirations | 1,240,000 | |||
Stock Granted, Value, Share-based Compensation, Forfeited | $ 0 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number, Ending Balance | 1,797,400 | 2,176,000 | ||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Not yet Recognized, Share-based Awards Other than Options, Shares | 866,000 | |||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Not yet Recognized, Share-based Awards Other than Options | $ 1,890 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 873,000 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value | $ 3.85 | |||
Performance Share Units [Member] | Subsequent Event [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period | 931,400 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Multiplier | 82.00% | |||
Performance Share Units [Member] | Minimum [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Common Shares Per Award, Adjusted, Multiplier | 0.00% | |||
Performance Share Units [Member] | Maximum [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Common Shares Per Award, Adjusted, Multiplier | 150.00% | |||
Deferred Share Units [Member] | Directors [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Common Shares Per Award | 1 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 45,103 | 48,830 | 44,770 | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value | $ 4.07 | $ 4.36 | $ 4.92 | |
Share-based Compensation Arrangement by Share-based Payment Award, Shares Issued in Period | 98,160 | 27,536 | 0 | |
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding, Number, Ending Balance | 254,633 |
Note 13 - Share-based Compens_4
Note 13 - Share-based Compensation - Summary of Share-based Compensation Expense (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Nov. 30, 2018 | Nov. 30, 2017 | Nov. 30, 2016 | |
Share-based Compensation Expense | $ 7,727 | $ 10,293 | $ 10,263 |
Employee Stock Option [Member] | |||
Share-based Compensation Expense | 3,767 | 5,496 | 5,855 |
Performance Share Units [Member] | |||
Share-based Compensation Expense | 3,783 | 4,588 | 4,184 |
Deferred Share Units [Member] | |||
Share-based Compensation Expense | $ 177 | $ 209 | $ 224 |
Note 13 - Share-based Compens_5
Note 13 - Share-based Compensation - Summary of Stock Options Outstanding (Details) $ / shares in Units, shares in Thousands, $ in Thousands | 12 Months Ended |
Nov. 30, 2018USD ($)$ / sharesshares | |
Balance - beginning of year, number of stock options (in shares) | shares | 17,551 |
Weighted average exercise price outstanding, beginning (in dollars per share) | $ / shares | $ 3.24 |
Granted, number of stock options (in shares) | shares | 3,527 |
Granted, weighted average exercise price (in dollars per share) | $ / shares | $ 3.88 |
Exercised, number of stock options (in shares) | shares | (2,672) |
Exercised, weighted average exercise price (in dollars per share) | $ / shares | $ 2.62 |
Expired, number of stock options (in shares) | shares | (130) |
Expired, weighted average exercise price (in dollars per share) | $ / shares | $ 3.38 |
Forfeited, number of stock options (in shares) | shares | (393) |
Forfeited, weighted average exercise price (in dollars per share) | $ / shares | $ 4.10 |
Balance - end of year, number of stock options (in shares) | shares | 17,883 |
Weighted average exercise price outstanding, ending (in dollars per share) | $ / shares | $ 3.36 |
Weighted-average remaining contractual term, outstanding (Year) | 2 years |
Aggregate intrinsic value, outstanding | $ | $ 3,274 |
Vested and exercisable, number of stock options (in shares) | shares | 13,494 |
Vested and exercisable, weighted average exercise price (in dollars per share) | $ / shares | $ 3.14 |
Weighted-average remaining contractual term, vested and exercisable (Year) | 1 year 156 days |
Aggregate intrinsic value, vested and exercisable | $ | $ 3,274 |
Note 13 - Share-based Compens_6
Note 13 - Share-based Compensation - Other Information Related to Stock Options (Details) - USD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | ||
Nov. 30, 2018 | Nov. 30, 2017 | Nov. 30, 2016 | |
Expected volatility | 50.00% | 50.00% | 54.00% |
Expected term of options (Year) | 3 years | 3 years | 3 years |
Expected dividend rate | 0.00% | 0.00% | |
Risk-free interest rate | 1.80% | 1.20% | 0.50% |
Expected forfeiture rate | 2.30% | 2.50% | 3.00% |
Weighted-average grant-date fair value (in dollars per share) | $ 1.35 | $ 1.60 | $ 1.37 |
Intrinsic value of options exercised | $ 3,744 | $ 5,014 | $ 1,510 |
Cash received from options exercised |
Note 13 - Share-based Compens_7
Note 13 - Share-based Compensation - PSU Awards Outstanding and PSU Activity (Details) - Performance Share Units [Member] $ / shares in Units, $ in Thousands | 12 Months Ended |
Nov. 30, 2018USD ($)$ / sharesshares | |
Balance - beginning of year (in shares) | shares | 2,176,000 |
Balance - beginning of year (in dollars per share) | $ / shares | $ 4.10 |
Granted (in shares) | shares | 873,000 |
Granted (in dollars per share) | $ / shares | $ 3.85 |
Expired (in shares) | shares | (1,240,000) |
Expired (in dollars per share) | $ / shares | $ 3.48 |
Forfeited (in shares) | shares | (12,000) |
Forfeited (in dollars per share) | $ / shares | $ 4.32 |
Balance - end of year (in shares) | shares | 1,797,400 |
Balance - end of year (in dollars per share) | $ / shares | $ 4.39 |
Aggregate intrinsic value - end of year | $ | $ 6,943 |
Note 13 - Share-based Compens_8
Note 13 - Share-based Compensation - Other PSU-related Information (Details) - USD ($) shares in Thousands, $ in Thousands | 12 Months Ended | ||||
Nov. 30, 2018 | Nov. 30, 2017 | Nov. 30, 2016 | |||
Withholding tax paid on PSUs vested | $ 196 | [1] | $ 4,275 | [1] | |
Performance Share Units [Member] | |||||
Performance multiplier on PSUs vested | 113.00% | 140.00% | |||
Common shares issued (thousands) (in shares) | 1,513 | 1,377 | |||
Total fair value of common shares issued | $ 6,932 | $ 5,151 | |||
Withholding tax paid on PSUs vested | $ 196 | $ 4,275 | |||
[1] | See note 4 - Discontinued operations |
Note 14 - Share Capital (Detail
Note 14 - Share Capital (Details Textual) - shares | Nov. 30, 2018 | Nov. 30, 2017 |
Common Stock, Shares Authorized | 1,000,000,000 | 1,000,000,000 |
Common Stock, Shares, Issued, Total | 323,222,840 | 322,219,187 |
Preferred Stock, Shares Authorized | 10,000,000 | |
Preferred Stock, Shares Issued, Total | 0 | 0 |
Common Stock, Shares, Outstanding, Ending Balance | 323,222,840 | 322,219,187 |
Preferred Stock, Shares Outstanding, Ending Balance | 0 | 0 |
Note 15 - Reclassifications O_3
Note 15 - Reclassifications Out of Accumulated Other Comprehensive Income (Loss) (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | |
Nov. 30, 2017 | Nov. 30, 2016 | |
Reclassification from AOCI, Current Period, Net of Tax, Attributable to Parent | $ 0 | $ 0 |
Note 15 - Reclassifications O_4
Note 15 - Reclassifications Out of Accumulated Other Comprehensive Income (Loss) - Changes in AOCI and Details About AOCI (Details) - USD ($) $ in Thousands | 12 Months Ended | ||||||
Nov. 30, 2018 | Nov. 30, 2017 | Nov. 30, 2016 | |||||
Balance, beginning | $ 284,029 | [1] | $ 300,263 | $ 329,296 | |||
Impairment of marketable equity securities net of $nil tax recovery(1) | 0 | 0 | |||||
Balance, ending | 160,688 | 284,029 | [1] | 300,263 | |||
Accumulated Net Investment Gain (Loss) Attributable to Parent [Member] | |||||||
Balance, beginning | 843 | ||||||
Change in other comprehensive income (loss) before reclassifications | (541) | ||||||
Impairment of marketable equity securities net of $nil tax recovery(1) | [2] | 76 | |||||
Net current-period other comprehensive income (loss) | (465) | ||||||
Balance, ending | 378 | 843 | |||||
Accumulated Foreign Currency Adjustment Attributable to Parent [Member] | |||||||
Balance, beginning | (7,018) | ||||||
Change in other comprehensive income (loss) before reclassifications | (4,062) | ||||||
Impairment of marketable equity securities net of $nil tax recovery(1) | (13,776) | ||||||
Net current-period other comprehensive income (loss) | (17,838) | ||||||
Balance, ending | (24,856) | (7,018) | |||||
AOCI Attributable to Parent [Member] | |||||||
Balance, beginning | [3] | (6,175) | (18,860) | (17,685) | |||
Change in other comprehensive income (loss) before reclassifications | (4,603) | ||||||
Net current-period other comprehensive income (loss) | (18,303) | ||||||
Balance, ending | $ (24,478) | $ (6,175) | [3] | $ (18,860) | [3] | ||
[1] | See note 4 - Discontinued operations | ||||||
[2] | This Accumulated other comprehensive income (loss) component is included in Other income (expense) in the Consolidated Statements of Loss. | ||||||
[3] | Accumulated other comprehensive income (loss) |
Note 15 - Reclassifications O_5
Note 15 - Reclassifications Out of Accumulated Other Comprehensive Income (Loss) - Changes in AOCI and Details About AOCI (Details) (Parentheticals) | 12 Months Ended |
Nov. 30, 2018USD ($) | |
Accumulated Net Investment Gain (Loss) Attributable to Parent [Member] | |
Impairment of marketable equity securities. tax recovery |
Note 16 - Related Party Trans_2
Note 16 - Related Party Transactions (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | ||
Nov. 30, 2018 | Nov. 30, 2017 | Nov. 30, 2016 | |
Donlin Gold [Member] | Other Noncurrent Assets [Member] | |||
Accounts Receivable, Related Parties, Noncurrent | $ 247 | $ 0 | |
Donlin Gold [Member] | Technical Services Provided [Member] | |||
Related Party Transaction, Amounts of Transaction | 658 | 0 | $ 0 |
Galore Creek [Member] | |||
Accounts Receivable, Related Parties, Noncurrent | 3,674 | ||
Rental Income, Nonoperating | $ 0 | $ 207 | $ 335 |
Note 17 - Commitments and Con_2
Note 17 - Commitments and Contingencies (Details Textual) $ in Thousands | Nov. 30, 2018USD ($) |
Operating Leases, Future Minimum Payments Due, Next Twelve Months | $ 226 |
Operating Leases, Future Minimum Payments, Due in Two Years | 199 |
Operating Leases, Future Minimum Payments, Due in Three Years | 204 |
Operating Leases, Future Minimum Payments, Due in Four Years | 210 |
Operating Leases, Future Minimum Payments, Due in Five Years | 18 |
Operating Leases, Future Minimum Payments, Due Thereafter | $ 857 |
Note 18 - Supplemental Cash F_3
Note 18 - Supplemental Cash Flow Information (Details Textual) $ in Thousands | 12 Months Ended |
Nov. 30, 2018USD ($) | |
Noncash or Part Noncash Divestiture, Amount of Consideration Received | $ 88,398 |
Note 18 - Supplemental Cash F_4
Note 18 - Supplemental Cash Flow Information - Supplemental Cash Flow Disclosures (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Nov. 30, 2018 | Nov. 30, 2017 | Nov. 30, 2016 | |
Interest received | $ 1,038 | $ 1,101 | $ 878 |
Income taxes paid | $ 331 | $ 343 | $ 327 |
Note 19 - Unaudited Supplemen_3
Note 19 - Unaudited Supplementary Data (Details Textual) - Galore Creek [Member] - Discontinued Operations, Disposed of by Sale [Member] - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 12 Months Ended |
Aug. 31, 2018 | Nov. 30, 2018 | |
Discontinued Operation, Gain (Loss) on Disposal of Discontinued Operation, Net of Tax, Total | $ (80,026) | $ (80,096) |
Discontinued Operation, Gain (Loss) on Disposal of Discontinued Operation, Net of Tax, Per Basic and Diluted Share | $ (0.25) |
Note 19 - Unaudited Supplemen_4
Note 19 - Unaudited Supplementary Data - Selected Quarterly Financial Information (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||||
Nov. 30, 2018 | Aug. 31, 2018 | May 31, 2018 | Feb. 28, 2018 | Nov. 30, 2017 | Aug. 31, 2017 | May 31, 2017 | Feb. 28, 2017 | Nov. 30, 2018 | Nov. 30, 2017 | [1] | Nov. 30, 2016 | [1] | |
Loss from operations | $ (6,042) | $ (6,922) | $ (7,801) | $ (6,526) | $ (8,064) | $ (7,811) | $ (7,333) | $ (8,813) | $ (27,291) | $ (32,021) | $ (28,998) | ||
Net loss from continuing operations | (6,224) | (8,043) | (9,237) | (7,962) | (8,904) | (9,781) | (8,237) | (9,993) | (31,466) | (36,915) | (32,697) | ||
Net loss from discontinued operations | (70) | (80,582) | (394) | (253) | (1,114) | (612) | (225) | (150) | (81,299) | (2,101) | [2] | (1,149) | [2] |
Net loss | $ (6,294) | $ (88,625) | $ (9,631) | $ (8,215) | $ (10,018) | $ (10,393) | $ (8,462) | $ (10,143) | $ (112,765) | $ (39,016) | [2] | $ (33,846) | [2] |
Continuing operations (in dollars per share) | $ (0.02) | $ (0.02) | $ (0.03) | $ (0.03) | $ (0.03) | $ (0.03) | $ (0.03) | $ (0.03) | $ (0.10) | $ (0.11) | $ (0.10) | ||
Discontinued operations (in dollars per share) | (0.25) | (0.25) | (0.01) | (0.01) | |||||||||
(in dollars per share) | $ (0.02) | $ (0.27) | $ (0.03) | $ (0.03) | $ (0.03) | $ (0.03) | $ (0.03) | $ (0.03) | $ (0.35) | $ (0.12) | $ (0.11) | ||
[1] | See note 4 - Discontinued operations | ||||||||||||
[2] | See note 4 - Discontinued operations |