NovaGold Resources (NG) 10-K 23 Jan 25 2024 FY Annual report Financial data

Document And Entity Information

Document And Entity Information - USD ($)	12 Months Ended
	Nov. 30, 2024	Jan. 13, 2025	May 31, 2024
Document Information [Line Items]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Nov. 30, 2024
Document Transition Report	false
Entity File Number	001-31913
Entity Registrant Name	NOVAGOLD RESOURCES INC.
Entity Incorporation, State or Country Code	A1
Entity Address, Address Line One	201 South Main Street, Suite 400
Entity Address, City or Town	Salt Lake City
Entity Address, State or Province	UT
Entity Address, Postal Zip Code	84111
City Area Code	801
Local Phone Number	639-0511
Title of 12(b) Security	Common Shares
Trading Symbol	NG
Security Exchange Name	NYSE
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Document Financial Statement Error Correction [Flag]	false
Entity Shell Company	false
Entity Public Float			$ 967,700,000
Entity Common Stock, Shares Outstanding (in shares)		334,646,571
Auditor Name	PricewaterhouseCoopers LLP
Auditor Location	Vancouver, Canada
Auditor Firm ID	271
Entity Central Index Key	0001173420
Current Fiscal Year End Date	--11-30
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	FY
Amendment Flag	false

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Nov. 30, 2024	Nov. 30, 2023
ASSETS
Cash and cash equivalents	$ 42,224	$ 45,749
Term deposits	59,000	80,000
Other assets (Note 6)	1,530	1,470
Current assets	102,754	127,219
Investment in Donlin Gold (Note 5)	2,597	3,071
Other assets (Note 6)	4,402	3,000
Total assets	109,753	133,290
us-gaap_LiabilitiesAbstract
Accounts payable and accrued liabilities	1,371	703
Accrued payroll and related benefits	2,482	2,799
Income taxes payable	220	0
Other liabilities (Note 9)	413	404
Current liabilities	4,486	3,906
Promissory note (Note 7)	151,522	136,748
Other liabilities (Note 9)	1,161	859
Total liabilities	157,169	141,513
Commitments and Contingencies
us-gaap_EquityAbstract
Common Shares Authorized – 1,000 million shares, no par value Issued Authorized outstanding – 332.4 and 330.4 million shares, respectively	1,989,245	1,986,938
Contributed surplus	93,377	88,621
Accumulated deficit	(2,104,932)	(2,059,311)
Accumulated other comprehensive loss	(25,106)	(24,471)
Total equity	(47,416)	(8,223)
Total liabilities and equity	$ 109,753	$ 133,290

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parentheticals) - $ / shares $ / shares in Thousands	Nov. 30, 2024	Nov. 30, 2023
Common Stock, Shares Authorized (in shares)	1,000,000,000	1,000,000,000
Common Stock, No Par Value (in dollars per share)	$ 0	$ 0
Common Stock, Shares, Issued (in shares)	334,567,187	334,246,859
Common Stock, Shares, Outstanding, Ending Balance (in shares)	334,567,187	334,246,859

Consolidated Statements of Loss

Consolidated Statements of Loss and Comprehensive Loss - USD ($) $ in Thousands	12 Months Ended
	Nov. 30, 2024	Nov. 30, 2023	Nov. 30, 2022
Operating expenses:
General and administrative (Note 12)	$ 24,936	$ 21,783	$ 20,109
Equity loss - Donlin Gold (Note 5)	12,921	18,529	28,163
Operating Expenses	37,857	40,312	48,272
Loss from operations	(37,857)	(40,312)	(48,272)
Interest expense on promissory note (Note 7)	(14,774)	(13,063)	(7,962)
Interest and dividend income	5,378	5,791	1,591
Accretion of notes receivable (Note 4)	0	579	849
Remediation expense	(339)	(541)	(366)
Other income (expense), net (Note 14)	2,695	782	784
Loss before income taxes	(44,897)	(46,764)	(53,376)
Income tax recovery (expense) (Note 15)	(724)	(39)	33
Net loss	(45,621)	(46,803)	(53,343)
us-gaap_OtherComprehensiveIncomeLossNetOfTaxAttributableToParentAbstract
Foreign currency translation adjustments	(635)	(54)	(1,128)
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent	(635)	(54)	(1,128)
Comprehensive loss	$ (46,256)	$ (46,857)	$ (54,471)
Net loss per common share – basic and diluted (in dollars per share)	$ (0.14)	$ (0.14)	$ (0.16)
Weighted average shares outstanding
Weighted Average Number of Shares Outstanding, Basic, Total (in shares)	334,458	334,057	333,236

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Nov. 30, 2024	Nov. 30, 2023	Nov. 30, 2022
Operating activities:
Net loss	$ (45,621)	$ (46,803)	$ (53,343)
Adjustments:
Equity loss – Donlin Gold	12,921	18,529	28,163
Interest expense on promissory note	14,774	13,063	7,962
Share-based compensation	7,237	8,731	8,214
Remediation expense	339	541	366
Foreign exchange (gain) loss	(516)	43	(595)
Accretion of notes receivable	0	(579)	(849)
Change in fair value of marketable securities	(1,436)	(269)	(189)
Gain on sale of mineral property	(743)	(556)	0
Other operating adjustments	35	49	(44)
Net change in operating assets and liabilities (Note 17)	(368)	535	2,056
Net cash used in operating activities	(12,642)	(7,786)	(12,371)
Investing activities:	140,000	148,000	148,000
Purchases of term deposits	(119,000)	(166,000)	(132,000)
Funding of Donlin Gold	(12,447)	(17,752)	(28,435)
Proceeds from note receivable	0	25,000	0
Proceeds from sale of mineral property	743	556	0
Other	59	(132)	73
Net cash provided from investing activities	9,355	(10,328)	(12,362)
Financing activities:	174	0	2,122
Net cash used in financing activities	(174)	0	(2,122)
Effect of exchange rate changes on cash and cash equivalents	(64)	(19)	(387)
Net change in cash and cash equivalents	(3,525)	(18,133)	(27,242)
Cash and cash equivalents at beginning of year	45,749	63,882	91,124
Cash and cash equivalents at end of year	$ 42,224	$ 45,749	$ 63,882

Consolidated Statements of Equi

Consolidated Statements of Equity - USD ($) $ in Thousands	Common Stock [Member] Performance Share Units [Member]	Common Stock [Member] Deferred Share Units [Member]	Common Stock [Member]	Additional Paid-in Capital [Member] Performance Share Units [Member]	Additional Paid-in Capital [Member] Deferred Share Units [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member] Performance Share Units [Member]	Retained Earnings [Member] Deferred Share Units [Member]	Retained Earnings [Member]	AOCI Attributable to Parent [Member] Performance Share Units [Member]	AOCI Attributable to Parent [Member] Deferred Share Units [Member]	AOCI Attributable to Parent [Member]	Performance Share Units [Member]	Deferred Share Units [Member]	Total
Balance (in shares) at Nov. 30, 2021			332,416,000
Balance at Nov. 30, 2021			$ 1,978,520			$ 82,216			$ (1,959,165)			$ (23,289)			$ 78,282
Share-based compensation			$ 0			8,214			0			0			8,214
Share units settled in shares (in shares)	430,000	53,000											430,045
Share units settled in shares	$ 1,731	$ 249		$ (1,731)	$ (249)		$ 0	$ 0		$ 0	$ 0		$ 0	$ 0
Stock options exercised (in shares)			854,000
Stock options exercised			$ 3,462			(3,462)			0			0			0
Withholding tax on PSUs			0			(2,122)			0			0			(2,122)
Net loss			0			0			(53,343)			0			(53,343)
Other comprehensive loss			0			0			0			(1,128)			(1,128)
Share-based compensation	$ 1,731	$ 249		(1,731)	(249)		0	0		0	0		$ 0	0
Net loss			0			0			(53,343)			0			(53,343)
Other comprehensive loss			$ 0			0			0			(1,128)			(1,128)
Balance (in shares) at Nov. 30, 2022			333,753,000
Balance at Nov. 30, 2022			$ 1,983,962			82,866			(2,012,508)			(24,417)			29,903
Share-based compensation			0			8,731			0			0			8,731
Share units settled in shares (in shares)		48,000											0
Share units settled in shares		$ 246	$ 0		(246)			0			0			0
Stock options exercised (in shares)			446,000
Stock options exercised			$ 2,730			(2,730)			0			0			0
Net loss			0			0			(46,803)			0			(46,803)
Other comprehensive loss			0			0			0			(54)			(54)
Share-based compensation		$ 246	0		(246)			0			0			0
Net loss			0			0			(46,803)			0			(46,803)
Other comprehensive loss			$ 0			0			0			(54)			(54)
Balance (in shares) at Nov. 30, 2023			334,247,000
Balance at Nov. 30, 2023			$ 1,986,938			88,621			(2,059,311)			(24,471)			(8,223)
Share-based compensation			$ 0			7,237			0			0			$ 7,237
Share units settled in shares (in shares)	149,000	47,000											149,559
Share units settled in shares	$ 800	$ 224		(800)	(224)		0	0		0	0		$ 0	0
Stock options exercised (in shares)			124,000												890,000
Stock options exercised			$ 1,283			(1,283)			0			0			$ 0
Withholding tax on PSUs			0			(174)			0			0			(174)
Net loss			0			0			(45,621)			0			(45,621)
Other comprehensive loss			0			0			0			(635)			(635)
Share-based compensation	$ 800	$ 224		$ (800)	$ (224)		$ 0	$ 0		$ 0	$ 0		$ 0	$ 0
Net loss			0			0			(45,621)			0			(45,621)
Other comprehensive loss			$ 0			0			0			(635)			(635)
Balance (in shares) at Nov. 30, 2024			334,567,000
Balance at Nov. 30, 2024			$ 1,989,245			$ 93,377			$ (2,104,932)			$ (25,106)			$ (47,416)

Note 1 - The Company

Note 1 - The Company	12 Months Ended
	Nov. 30, 2024
Notes to Financial Statements
Business Description and Basis of Presentation [Text Block]	NOTE 1 THE COMPANY 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

Note 2 - Summary of Significant

Note 2 - Summary of Significant Accounting Policies	12 Months Ended
	Nov. 30, 2024
Notes to Financial Statements
Significant Accounting Policies [Text Block]	NOTE 2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Presentation The Consolidated Financial Statements include the accounts of 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 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). 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 Company bases its estimates and assumptions on historical experience and on various other assumptions that are believed to be reasonable under the circumstances. Actual results could differ from the amounts recorded in these Consolidated Financial Statements. References in these Consolidated Financial Statements and Notes to $ refer to United States (U.S.) dollars and C$ to Canadian dollars. Dollar amounts are in thousands, except for per share amounts. Foreign currency The functional currency for NOVAGOLD RESOURCES INC. 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 months or less, that are cash equivalents. Cash equivalents are held for the purpose of meeting short-term cash commitments rather than for investment or other purposes. 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 months or less. The term deposits are not traded in an active market. Contingent note receivable A portion of the proceeds related to the sale of Galore Creek to Newmont includes a $75,000 note receivable, contingent upon the approval of a Galore Creek project construction plan by the owner(s). The Company has not assigned a value to the contingent note receivable as management determined that the approval of the Galore Creek project construction was not probable as of the closing of the Galore Creek sale or in subsequent periods. The contingent note will be recognized when, in management’s judgement, it is probable that the payment will occur, and that the amount recorded will not reverse in future periods. Investment in affiliates Investments in unconsolidated ventures over which the Company has the ability to exercise significant influence, but does not control, are accounted for under the equity method and include the Company’s investment in the Donlin Gold project. The Company identified Donlin Gold as a Variable Interest Entity (VIE) as the entity is dependent on funding from its owners. All funding, ownership, voting rights, and power to exercise control is shared equally on a 50/50 basis between the owners of the VIE. Therefore, the Company has determined that it is not the primary beneficiary of the VIE. The Company’s maximum exposure to loss is its equity investment in Donlin Gold. 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 is a non-publicly traded equity investee owning an exploration and development project. Therefore, the Company assesses whether there has been a potential triggering event for other-than-temporary impairment by assessing 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 recoverable, the Company will record an impairment charge equal to the difference between the carrying amount of the investee and its fair value. 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 that some portion or all of the deferred income tax assets will not be realized. 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 fair values of PSU retention incentive awards are based on their grant date market prices. The Company’s estimates may be impacted by certain variables including, but not limited to, stock price volatility, employee stock option exercise behaviors, additional stock option grants, estimates of forfeitures, the Company’s performance, and the Company’s performance in relation to its peers. 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 require the issuance of common shares in the future were converted. Diluted income per share is computed by increasing the weighted-average number of outstanding common shares to include the additional common shares that would be outstanding after conversion and adjusting net income for changes that would result from the conversion. Only those securities or other contracts that result in a reduction in earnings per share are included in the calculation. Recently Issued Accounting Pronouncements and Securities and Exchange Commission Rules Updates to Reportable Segment Disclosures In November 2023, the FASB issued ASU 2023-07 “Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures.” ASU 2023-07 expands public entities’ segment disclosures by requiring disclosure of significant segment expenses that are regularly provided to the chief operating decision maker and included within each reported measure of segment profit or loss and interim disclosures of a reportable segment’s profit or loss and assets. The standard is effective for the Company’s Annual Report on Form 10-K for the fiscal year ended November 30, 2025, and subsequent interim periods, with early adoption permitted. The Company does not expect the adoption to have a material impact on the consolidated financial statements or disclosures. Updates to Income Tax Disclosure In December 2023, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2023-09 "Income Taxes (Topic 470): Improvements to Income Tax Disclosures." ASU 2023-09 enhances the transparency and decision usefulness of income tax disclosures through changes to the rate reconciliation and income taxes paid information. The standard is effective beginning with the Company's Annual Report on Form 10-K for the fiscal year ended November 30, 2025, and subsequent interim periods, with early adoption permitted. The Company is currently evaluating the impact of the guidance on the consolidated financial statements. SEC Final Climate Rule In March 2024, the SEC issued a final rule that requires registrants to disclose climate-related information in their annual reports and in registration statements. In April 2024, the SEC chose to stay the newly adopted rulemaking pending judicial review of related consolidated Eighth Circuit petitions. If the stay is lifted, certain disclosures may be required in annual reports for the year ending November 30, 2026, filed in 2027. The Company is currently monitoring the outcome of political and legal developments surrounding the new rules and in the meantime is evaluating the impact of the rules on its consolidated financial statements.

Note 3 - Segmented Information

Note 3 - Segmented Information	12 Months Ended
	Nov. 30, 2024
Notes to Financial Statements
Segment Reporting Disclosure [Text Block]	NOTE 3 SEGMENTED INFORMATION 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 the 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 investment in the Donlin Gold project in Alaska, USA (Note 5).

Note 4 - Notes Receivable

Note 4 - Notes Receivable	12 Months Ended
	Nov. 30, 2024
Notes to Financial Statements
Financing Receivables [Text Block]	NOTE 4 NOTES RECEIVABLE Changes in the Company’s Notes receivable Years ended November 30, 2024 2023 2022 Balance – beginning of period $ — $ 24,421 $ 23,572 Accretion of notes receivable — 579 849 Payment received — (25,000 ) — Balance – end of period $ — $ — $ 24,421 Galore Creek On July 27, 2018, the Company sold its interest in the Galore Creek project to a subsidiary of Newmont Corporation (“Newmont”) for cash proceeds of $100,000, a $75,000 note due upon the earlier of the completion of a Galore Creek pre-feasibility study or July 27, 2021, a $25,000 note due upon the earlier of the completion of a Galore Creek feasibility study or July 27, 2023, and a contingent note for $75,000 due upon approval of a Galore Creek project construction plan by the owner(s). The Company received from Newmont $75,000 on July 27, 2021, and $25,000 on July 27, 2023. No value was assigned to the final $75,000 contingent note. The Company determined that Galore Creek project construction approval was not probable as of the closing of the Galore Creek sale. The Company’s assessment did not change as of November 30, 2024. Minas San Roque On November 3, 2021, the Company sold its 49% interest in the Minas San Roque project in Argentina to Marifil S.A., a subsidiary of International Iconic Gold Mines Ltd. (“Iconic”) for cash proceeds of C$250 upon closing, a C$750 note receivable due on November 1, 2022, and a C$1,000 note receivable due on November 1, 2023. On closing, the Company determined the fair value of the notes was nil

Note 5 - Investment in Donlin G

Note 5 - Investment in Donlin Gold	12 Months Ended
	Nov. 30, 2024
Notes to Financial Statements
Equity Method Investments and Joint Ventures Disclosure [Text Block]	NOTE 5 INVESTMENT IN DONLIN GOLD The Donlin Gold project is owned and operated by Donlin Gold, a limited liability company in which wholly-owned subsidiaries of NOVAGOLD and Barrick each own a 50% interest. Donlin Gold has a board of four two two Changes in the Company’s Investment in Donlin Gold Years ended November 30, 2024 2023 2022 Balance – beginning of period $ 3,071 $ 3,848 $ 3,576 Share of losses: Mineral property expenditures (12,351 ) (17,918 ) (27,690 ) Depreciation (530 ) (571 ) (427 ) Accretion (40 ) (40 ) (46 ) (12,921 ) (18,529 ) (28,163 ) Funding 12,447 17,752 28,435 Balance – end of period $ 2,597 $ 3,071 $ 3,848 The following amounts represent the Company’s 50% share of the assets and liabilities of Donlin Gold. Donlin Gold capitalized the initial contribution of the Donlin Gold property as Non-current assets: Mineral property As of November 30, 2024 2023 Current assets: Cash, prepaid expenses, and other receivables $ 3,745 $ 3,410 Non-current assets: Right-of-use assets, property and equipment 965 1,456 Non-current assets: Mineral property 32,654 32,615 Current liabilities: Accounts payable, accrued liabilities and lease obligations (1,947 ) (1,669 ) Non-current liabilities: Reclamation and lease obligations (820 ) (741 ) Net assets $ 34,597 $ 35,071

Note 6 - Other Assets

Note 6 - Other Assets	12 Months Ended
	Nov. 30, 2024
Notes to Financial Statements
Other Assets Disclosure [Text Block]	NOTE 6 OTHER ASSETS As of November 30, 2024 2023 Other current assets: Accounts receivable $ 22 $ 43 Interest receivable 89 99 Receivable from Donlin Gold 212 203 Prepaid expenses 1,207 1,125 $ 1,530 $ 1,470 Other long-term assets: Marketable equity securities $ 3,387 $ 2,102 Right-of-use assets 896 757 Office equipment 119 141 $ 4,402 $ 3,000

Note 7 - Promissory Note

Note 7 - Promissory Note	12 Months Ended
	Nov. 30, 2024
Notes to Financial Statements
Debt Disclosure [Text Block]	NOTE 7 PROMISSORY NOTE The Company has a promissory note payable to Barrick of $151,522, comprising $51,576 in principal, and $99,946 in accrued interest at U.S. prime Changes in the Company’s Promissory Note Years ended November 30, 2024 2023 2022 Balance – beginning of period $ 136,748 $ 123,685 $ 115,723 Interest expense on promissory note 14,774 13,063 7,962 Balance – end of period $ 151,522 $ 136,748 $ 123,685

Note 8 - Leases

Note 8 - Leases	12 Months Ended
	Nov. 30, 2024
Notes to Financial Statements
Lessee, Operating Leases [Text Block]	NOTE 8 LEASES The Company leases office space under non-cancelable operating leases with original lease terms of five five Lease expenses are included in General and administrative expense Office expense Years ended November 30, 2024 2023 2022 Operating lease cost $ 225 $ 232 $ 234 Variable lease cost 135 121 126 Short-term lease cost 6 5 5 $ 366 $ 358 $ 365 Future minimum lease payments under non-cancellable operating leases as of November 30, 2024, were as follows: 2025 $ 216 2026 215 2027 226 2028 247 2029 141 Thereafter 14 Total future minimum lease 1,059 Less: imputed interest (129 ) $ 930 Other information regarding leases includes the following: Years ended November 30, 2024 2023 2022 Cash paid for operating leases $ 232 $ 193 $ 238 Variable lease cost 135 121 126 Short-term lease cost 6 5 5 $ 373 $ 319 $ 369 ROU assets obtained in exchange for lease liabilities $ — $ — $ 750 Weighted average: Remaining lease term (years) – operating leases 4.6 4.8 5.6 Discount rate – operating leases 6.7 % 5.9 % 5.8 %

Note 9 - Other Liabilities

Note 9 - Other Liabilities	12 Months Ended
	Nov. 30, 2024
Notes to Financial Statements
Other Liabilities Disclosure [Text Block]	NOTE 9 OTHER LIABILITIES As of November 30, 2024 2023 Other current liabilities: Remediation liabilities $ 244 $ 212 Lease obligations 169 192 $ 413 $ 404 Other long-term liabilities: Remediation liabilities $ 400 $ 250 Lease obligations 761 609 $ 1,161 $ 859

Note 10 - Share Capital

Note 10 - Share Capital	12 Months Ended
	Nov. 30, 2024
Notes to Financial Statements
Equity [Text Block]	NOTE 10 SHARE CAPITAL Common shares The Company is authorized to issue 1,000,000,000 common shares without par value, of which 334,567,187 were issued and outstanding as of November 30, 2024, and 334,246,859 were issued and outstanding as of November 30, 2023. 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 preferred shares without par value. The authorized but unissued preferred shares may be issued in designated series from time to time by one or more resolutions adopted by the directors. The directors have the authority to determine the preferences, limitations, and relative rights of each series of preferred shares. As of November 30, 2024 and 2023, no preferred shares were issued or outstanding.

Note 11 - Fair Value Accounting

Note 11 - Fair Value Accounting	12 Months Ended
	Nov. 30, 2024
Notes to Financial Statements
Fair Value Disclosures [Text Block]	NOTE 11 FAIR VALUE ACCOUNTING Financial instruments measured at fair value are classified into one of three levels in the fair value hierarchy according to the significance of the inputs used in making the measurement. The three levels of the fair value hierarchy are as follows: Level 1 Level 2 Level 3 The Company’s financial instruments consist of cash and cash equivalents, term deposits, accounts receivable, receivable from Donlin Gold, accounts payable and accrued liabilities, and promissory note. The fair value of the promissory note approximates its carrying value based on accrued interest at U.S. prime plus 2% and the terms for repayment from future mine production or from any net proceeds resulting from a reduction of the Company’s interest in Donlin Gold. The fair values of the Company’s other financial instruments approximate their carrying value due to the short‐term nature of their maturity. The Company’s financial instruments initially measured at fair value and then held at amortized cost include cash and cash equivalents, term deposits, accounts receivable, receivable from Donlin Gold, accounts payable and accrued liabilities, and promissory note. The Company’s marketable equity securities are valued using quoted market prices in active markets and as such are classified within Level 1 of the fair value hierarchy. The fair value of the marketable equity securities was $3,387 as of November 30, 2024 ($2,102 as of November 30, 2023), calculated as the quoted market price of the marketable equity security multiplied by the quantity of shares held by the Company.

Note 12 - General and Administr

Note 12 - General and Administrative	12 Months Ended
	Nov. 30, 2024
Notes to Financial Statements
General and Administrative Expenses [Text Block]	NOTE 12 GENERAL AND ADMINISTRATIVE Years ended November 30, 2024 2023 2022 Share-based compensation (Note 13) $ 7,237 $ 8,731 $ 8,214 Salaries and benefits 7,958 7,009 6,710 Office expense 3,205 3,302 2,992 Professional fees 5,279 1,647 1,177 Corporate communications and regulatory 1,235 1,084 1,009 Depreciation 22 10 7 $ 24,936 $ 21,783 $ 20,109

Note 13 - Share-based Compensat

Note 13 - Share-based Compensation	12 Months Ended
	Nov. 30, 2024
Notes to Financial Statements
Share-Based Payment Arrangement [Text Block]	NOTE 13 SHARE-BASED COMPENSATION 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 non-executive directors of the Company. As of November 30, 2024, 29,350,311 common shares were available for future share incentive plan awards under all three plans. The following table shows the recognized share-based compensation expense (see Note 12 - General and administrative Years ended November 30, 2024 2023 2022 Stock options $ 4,236 $ 4,594 $ 4,642 Performance share unit plan 2,727 3,910 3,345 Deferred share unit plan 274 227 227 $ 7,237 $ 8,731 $ 8,214 Stock options Stock options granted under the Company’s share-based incentive plans generally expire five one-third A summary of stock options outstanding as of November 30, 2024, and activity during the year ended November 30, 2024 are as follows: Number of stock options Weighted- average exercise price per share Weighted- average remaining contractual term (years) Aggregate intrinsic value November 30, 2023 7,606,200 $ 6.59 Granted 3,088,900 4.12 Exercised (890,000 ) 3.67 Forfeited (765,663 ) 4.96 Expired (189,902 ) 7.16 November 30, 2024 8,849,535 $ 6.12 2.37 $ 138 Vested and exercisable as of November 30, 2024 4,488,049 $ 7.39 1.25 $ — The following table summarizes key stock option valuation inputs: Years ended November 30, 2024 2023 2022 Weighted-average assumptions used to value stock option awards: Expected volatility 48.7 % 48.4 % 46.5 % Expected term of options (years) 4 4 4 Expected dividend rate — — — Risk-free interest rate 4.29 % 3.85 % 1.13 % Weighted-average grant-date fair value $ 1.76 $ 2.40 $ 2.49 Intrinsic value of options exercised $ 471 $ 2,339 $ 5,723 Cash received from options exercised $ — $ — $ — As of November 30, 2024, the Company had $2,348 of unrecognized compensation cost related to 4,361,486 non-vested stock options expected to be expensed and vest over a period of approximately 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 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 a comparator index and the correlation of returns between the comparator index and the Company’s shares. Expected volatility is based on the historical volatility of the Company’s shares and the comparator index at the grant date. As new PSUs and stock options are generally granted on the same date, many of the key valuation input assumptions are the same for both share incentive award types. A summary of PSU awards outstanding as of November 30, 2024, and activity during the year ended November 30, 2024 are as follows: Number of PSU awards Weighted- average grant day fair value per award Aggregate intrinsic value November 30, 2023 1,605,500 $ 6.89 Granted 886,800 4.20 Retention awards vested (181,700 ) 5.65 Expired (319,300 ) 9.92 Forfeited (339,200 ) 5.33 Vested/Matured (18,600 ) 5.32 November 30, 2024 1,633,500 $ 5.32 $ — The following table summarizes key PSU valuation inputs: Years ended November 30, 2024 2023 2022 Weighted-average assumptions used to value PSU awards: Expected volatility of Company shares 42.5 % 53.9 % 52.4 % Expected volatility of TSX index 29.2 % 37.5 % 34.5 % Expected correlation between Company shares and TSX 78.3 % 80.6 % 80.7 % Expected term of PSUs (years) 3 3 3 Risk-free interest rate 4.22 % 3.52 % 1.07 % Number of PSUs granted 886,800 605,500 516,700 Weighted-average grant-date fair value $ 4.20 $ 5.77 $ 6.75 As of November 30, 2024, the Company had 1,633,500 non-vested PSU awards outstanding of which 408,400 were fully expensed and vested in December 2024 at 25% of the grant amount and subsequently settled with the issuance of common shares. The remaining 1,225,100 non-vested PSU awards with $3,715 of unrecognized compensation cost will be expensed over a period of approximately two The following table summarizes other PSU-related vesting information: Years ended November 30, 2024 2023 2022 Performance multiplier on PSUs vested 100 % — % 93 % Common shares issued 149,559 — 430,045 Total fair value of common shares issued $ 800 $ — $ 2,903 Withholding tax paid on PSUs vested $ 174 $ — $ 2,122 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 common share or the market value thereof in cash, at the Company’s option, when they retire from the Company. The Company granted 76,781, 43,658, and 38,470 DSUs to directors with a weighted-average grant day fair value of $4.62, $5.04, and $5.74 per DSU during 2024, 2023, and 2022, respectively. The Company issued 46,405, 48,446, and 52,930 common shares under the DSU plan to directors that retired from the Company in 2024, 2023, and 2022, respectively. As of November 30, 2024, there were 314,715 DSUs outstanding.

Note 14 - Other Income (Expense

Note 14 - Other Income (Expense), Net	12 Months Ended
	Nov. 30, 2024
Notes to Financial Statements
Other Income and Other Expense Disclosure [Text Block]	NOTE 14 OTHER INCOME (EXPENSE), NET Years ended November 30, 2024 2023 2022 Gain on sale of mineral property $ 743 $ 556 $ — Change in fair market value of marketable securities 1,436 269 189 Foreign exchange gain (loss) 516 (43 ) 595 $ 2,695 $ 782 $ 784

Note 15 - Income Taxes

Note 15 - Income Taxes	12 Months Ended
	Nov. 30, 2024
Notes to Financial Statements
Income Tax Disclosure [Text Block]	NOTE 15 INCOME TAXES The Company’s statutory tax rate is 27% and is expected to remain unchanged until at least 2025. The Company’s Income tax expense (recovery) Years ended November 30, 2024 2023 2022 Current: Canada $ — $ — $ — Foreign 724 39 (33 ) 724 39 (33 ) Deferred: Canada — — — Foreign — — — — — — Income tax (recovery) expense 724 $ 39 $ (33 ) The Company’s Loss before income taxes Years ended November 30, 2024 2023 2022 Canada $ 289 $ (18,213 ) $ (17,062 ) Foreign (45,186 ) (28,551 ) (36,314 ) $ (44,897 ) $ (46,764 ) $ (53,376 ) The Company’s Income tax (recovery) expense Years ended November 30, 2024 2023 2022 Loss before income taxes $ (44,897 ) $ (46,764 ) $ (53,376 ) Federal Income Tax Rate 15.00 % 15.00 % 15.00 % British Columbia Income Tax Rate 12.00 % 12.00 % 12.00 % Statutory income tax rate 27.00 % 27.00 % 27.00 % Combined federal and provincial statutory tax rate 27.0 % (12,122 ) 27.0 % (12,626 ) 27.0 % (14,412 ) Reconciling items: Non-deductible expenditures -4.9 % 2,207 -5.9 % 2,767 -4.5 % 2,411 Foreign accrual property income -3.8 % 1,715 -3.6 % 1,682 -1.2 % 666 Effect of different statutory tax rates on earnings or losses of subsidiaries 0.8 % (359 ) 0.9 % (407 ) 1.0 % (518 ) Withholding taxes -0.2 % 99 — — Change in valuation allowance on deferred tax assets -20.4 % 9,144 -18.5 % 8,623 -22.3 % 11,852 Other -0.1 % 40 — — 0.1 % (32 ) Income tax (recovery) expense -1.6 % $ 724 -0.1 % $ 39 0.1 % $ (33 ) Components of the Company’s deferred income tax assets (liabilities) are as follows: As of November 30, 2024 2023 Deferred tax income assets: Net operating loss carry forwards $ 200,693 $ 193,508 Capital loss carry forwards 46,528 47,995 Mineral properties 605 624 Intangible assets 448 462 Property and equipment 183 184 Investment in affiliates 48,486 47,522 Unpaid interest expense 2,105 2,105 Unrealized loss on investments 56 196 Asset retirement obligation 183 131 Other 970 1,129 300,257 293,856 Valuation allowances (299,829 ) (293,536 ) 428 320 Deferred income tax liabilities: Notes receivable — — Capitalized assets and other (428 ) (320 ) (428 ) (320 ) Net deferred income tax assets (liabilities) $ — $ — Net operating losses available to offset future taxable income are as follows: Year of Expiry U.S. Canada 2025 $ 13,382 $ — 2026 18,493 17,252 2027 85 1,722 2028 11,223 — 2029 10,916 11,163 2030 16,580 14,854 2031 309,772 14,783 2032 14,529 18,042 2033 15,607 13,615 2034 16,383 9,795 2035 14,764 8,945 2036 14,111 8,802 2037 — 5,853 2038 — 5,965 2039 — 5,407 2040 — 6,439 2041 — — 2042 — 6,644 2043 — 4,993 2044 — 9,411 Indefinite 92,423 — $ 548,268 $ 163,685 U.S. net operating losses arising in tax years ending after December 31, 2017 can be carried over to each taxable year following the tax year of loss (indefinitely). The Company has capital loss carry-forwards of approximately $344,655 as of November 30, 2024 (November 30, 2023: $355,516) for Canadian tax purposes. These tax losses are carried forward indefinitely. 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, which relates to a 50% change in control over a three-year period and are further dependent upon the Company attaining profitable operations. Ownership changes occurred on January 22, 2009 and on December 31, 2012 and the U.S. tax losses related to NOVAGOLD Resources Alaska Inc. and its investment in Donlin Gold for the three-year periods prior to the change in control may be subject to limitation under Section 382. Accordingly, the Company’s ability to use these losses may be limited or they may expire un-utilized. Losses incurred to date may be further limited if a subsequent change in control occurs. 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 include the cumulative loss incurred as of November 30, 2024. Such objective evidence limits the ability to consider other subjective evidence such as management’s projections for future growth. On the basis of this evaluation, as of November 30, 2024, a valuation allowance of $299,829 (November 30, 2023: $293,536), has been recorded in order to measure only the portion of the deferred tax asset that more likely than not will be realized. However, the amount of deferred tax asset considered realizable may change if estimates of future taxable income during the carryforward period are positive or if objective negative evidence in the form of cumulative losses is no longer present in which case additional weight may be given to subjective evidence such as management’s projections for growth. Uncertain tax position There were no

Note 16 - Related Party Transac

Note 16 - Related Party Transactions	12 Months Ended
	Nov. 30, 2024
Notes to Financial Statements
Related Party Transactions Disclosure [Text Block]	NOTE 16 RELATED PARTY TRANSACTIONS The Company provided management and administrative services to Donlin Gold for $731 in 2024 ($990 in 2023 and $681 in 2022). As of November 30, 2024, the Company has accounts receivable from Donlin Gold of $212 (November 30, 2023: $203) included in Other current assets

Note 17 - Net Change in Operati

Note 17 - Net Change in Operating Assets and Liabilities	12 Months Ended
	Nov. 30, 2024
Notes to Financial Statements
Net Change in Operating Assets and Liabilities [Text Block]	NOTE 17 NET CHANGE IN OPERATING ASSETS AND LIABILITIES Years ended November 30, 2024 2023 2022 Changes in operating assets and liabilities: Other assets $ (100 ) $ 694 $ (1,962 ) Accounts payable and accrued liabilities 708 (62 ) 128 Accrued payroll and related benefits (309 ) 268 (92 ) Income taxes payable 226 — — Remediation liability (157 ) (1,435 ) (130 ) $ 368 $ (535 ) $ (2,056 )

Note 18 - Supplemental Cash Flo

Note 18 - Supplemental Cash Flow Information	12 Months Ended
	Nov. 30, 2024
Notes to Financial Statements
Cash Flow, Supplemental Disclosures [Text Block]	NOTE 18 SUPPLEMENTAL CASH FLOW INFORMATION Years ended November 30, 2024 2023 2022 Interest and dividends received $ 5,539 $ 5,754 $ 1,684 Income taxes refunded — $ 325 $ 17 Income taxes paid $ 645 $ 75 $ —

Insider Trading Arrangements

Insider Trading Arrangements	12 Months Ended
	Nov. 30, 2024
Insider Trading Arr Line Items
Material Terms of Trading Arrangement [Text Block]	Other Information None
Rule 10b5-1 Arrangement Adopted [Flag]	false
Non-Rule 10b5-1 Arrangement Adopted [Flag]	false
Rule 10b5-1 Arrangement Terminated [Flag]	false
Non-Rule 10b5-1 Arrangement Terminated [Flag]	false

Significant Accounting Policies

Significant Accounting Policies (Policies)	12 Months Ended
	Nov. 30, 2024
Accounting Policies [Abstract]
Basis of Accounting, Policy [Policy Text Block]	Presentation The Consolidated Financial Statements include the accounts of 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 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). 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 Company bases its estimates and assumptions on historical experience and on various other assumptions that are believed to be reasonable under the circumstances. Actual results could differ from the amounts recorded in these Consolidated Financial Statements. References in these Consolidated Financial Statements and Notes to $ refer to United States (U.S.) dollars and C$ to Canadian dollars. Dollar amounts are in thousands, except for per share amounts.
Foreign Currency Transactions and Translations Policy [Policy Text Block]	Foreign currency The functional currency for NOVAGOLD RESOURCES INC. 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 months or less, that are cash equivalents. Cash equivalents are held for the purpose of meeting short-term cash commitments rather than for investment or other purposes.
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 months or less. The term deposits are not traded in an active market.
Contingent Note Receivable, Policy [Policy Text Block]	Contingent note receivable A portion of the proceeds related to the sale of Galore Creek to Newmont includes a $75,000 note receivable, contingent upon the approval of a Galore Creek project construction plan by the owner(s). The Company has not assigned a value to the contingent note receivable as management determined that the approval of the Galore Creek project construction was not probable as of the closing of the Galore Creek sale or in subsequent periods. The contingent note will be recognized when, in management’s judgement, it is probable that the payment will occur, and that the amount recorded will not reverse in future periods.
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 control, are accounted for under the equity method and include the Company’s investment in the Donlin Gold project. The Company identified Donlin Gold as a Variable Interest Entity (VIE) as the entity is dependent on funding from its owners. All funding, ownership, voting rights, and power to exercise control is shared equally on a 50/50 basis between the owners of the VIE. Therefore, the Company has determined that it is not the primary beneficiary of the VIE. The Company’s maximum exposure to loss is its equity investment in Donlin Gold. 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 is a non-publicly traded equity investee owning an exploration and development project. Therefore, the Company assesses whether there has been a potential triggering event for other-than-temporary impairment by assessing 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 recoverable, the Company will record an impairment charge equal to the difference between the carrying amount of the investee and its fair value.
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 that some portion or all of the deferred income tax assets will not be realized.
Share-Based Payment Arrangement [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 fair values of PSU retention incentive awards are based on their grant date market prices. The Company’s estimates may be impacted by certain variables including, but not limited to, stock price volatility, employee stock option exercise behaviors, additional stock option grants, estimates of forfeitures, the Company’s performance, and the Company’s performance in relation to its peers.
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 require the issuance of common shares in the future were converted. Diluted income per share is computed by increasing the weighted-average number of outstanding common shares to include the additional common shares that would be outstanding after conversion and adjusting net income for changes that would result from the conversion. Only those securities or other contracts that result in a reduction in earnings per share are included in the calculation.
New Accounting Pronouncements, Policy [Policy Text Block]	Recently Issued Accounting Pronouncements and Securities and Exchange Commission Rules Updates to Reportable Segment Disclosures In November 2023, the FASB issued ASU 2023-07 “Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures.” ASU 2023-07 expands public entities’ segment disclosures by requiring disclosure of significant segment expenses that are regularly provided to the chief operating decision maker and included within each reported measure of segment profit or loss and interim disclosures of a reportable segment’s profit or loss and assets. The standard is effective for the Company’s Annual Report on Form 10-K for the fiscal year ended November 30, 2025, and subsequent interim periods, with early adoption permitted. The Company does not expect the adoption to have a material impact on the consolidated financial statements or disclosures. Updates to Income Tax Disclosure In December 2023, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2023-09 "Income Taxes (Topic 470): Improvements to Income Tax Disclosures." ASU 2023-09 enhances the transparency and decision usefulness of income tax disclosures through changes to the rate reconciliation and income taxes paid information. The standard is effective beginning with the Company's Annual Report on Form 10-K for the fiscal year ended November 30, 2025, and subsequent interim periods, with early adoption permitted. The Company is currently evaluating the impact of the guidance on the consolidated financial statements. SEC Final Climate Rule In March 2024, the SEC issued a final rule that requires registrants to disclose climate-related information in their annual reports and in registration statements. In April 2024, the SEC chose to stay the newly adopted rulemaking pending judicial review of related consolidated Eighth Circuit petitions. If the stay is lifted, certain disclosures may be required in annual reports for the year ending November 30, 2026, filed in 2027. The Company is currently monitoring the outcome of political and legal developments surrounding the new rules and in the meantime is evaluating the impact of the rules on its consolidated financial statements.

Note 4 - Notes Receivable (Tabl

Note 4 - Notes Receivable (Tables)	12 Months Ended
	Nov. 30, 2024
Notes Tables
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block]	Years ended November 30, 2024 2023 2022 Balance – beginning of period $ — $ 24,421 $ 23,572 Accretion of notes receivable — 579 849 Payment received — (25,000 ) — Balance – end of period $ — $ — $ 24,421

Note 5 - Investment in Donlin_2

Note 5 - Investment in Donlin Gold (Tables)	12 Months Ended
	Nov. 30, 2024
Notes Tables
Equity Method Investments [Table Text Block]	Years ended November 30, 2024 2023 2022 Balance – beginning of period $ 3,071 $ 3,848 $ 3,576 Share of losses: Mineral property expenditures (12,351 ) (17,918 ) (27,690 ) Depreciation (530 ) (571 ) (427 ) Accretion (40 ) (40 ) (46 ) (12,921 ) (18,529 ) (28,163 ) Funding 12,447 17,752 28,435 Balance – end of period $ 2,597 $ 3,071 $ 3,848 As of November 30, 2024 2023 Current assets: Cash, prepaid expenses, and other receivables $ 3,745 $ 3,410 Non-current assets: Right-of-use assets, property and equipment 965 1,456 Non-current assets: Mineral property 32,654 32,615 Current liabilities: Accounts payable, accrued liabilities and lease obligations (1,947 ) (1,669 ) Non-current liabilities: Reclamation and lease obligations (820 ) (741 ) Net assets $ 34,597 $ 35,071

Note 6 - Other Assets (Tables)

Note 6 - Other Assets (Tables)	12 Months Ended
	Nov. 30, 2024
Notes Tables
Schedule of Other Assets [Table Text Block]	As of November 30, 2024 2023 Other current assets: Accounts receivable $ 22 $ 43 Interest receivable 89 99 Receivable from Donlin Gold 212 203 Prepaid expenses 1,207 1,125 $ 1,530 $ 1,470 Other long-term assets: Marketable equity securities $ 3,387 $ 2,102 Right-of-use assets 896 757 Office equipment 119 141 $ 4,402 $ 3,000

Note 7 - Promissory Note (Table

Note 7 - Promissory Note (Tables)	12 Months Ended
	Nov. 30, 2024
Notes Tables
Schedule of Debt [Table Text Block]	Years ended November 30, 2024 2023 2022 Balance – beginning of period $ 136,748 $ 123,685 $ 115,723 Interest expense on promissory note 14,774 13,063 7,962 Balance – end of period $ 151,522 $ 136,748 $ 123,685

Note 8 - Leases (Tables)

Note 8 - Leases (Tables)	12 Months Ended
	Nov. 30, 2024
Notes Tables
Lease, Cost [Table Text Block]	Years ended November 30, 2024 2023 2022 Operating lease cost $ 225 $ 232 $ 234 Variable lease cost 135 121 126 Short-term lease cost 6 5 5 $ 366 $ 358 $ 365 Years ended November 30, 2024 2023 2022 Cash paid for operating leases $ 232 $ 193 $ 238 Variable lease cost 135 121 126 Short-term lease cost 6 5 5 $ 373 $ 319 $ 369 ROU assets obtained in exchange for lease liabilities $ — $ — $ 750 Weighted average: Remaining lease term (years) – operating leases 4.6 4.8 5.6 Discount rate – operating leases 6.7 % 5.9 % 5.8 %
Lessee, Operating Lease, Liability, to be Paid, Maturity [Table Text Block]	2025 $ 216 2026 215 2027 226 2028 247 2029 141 Thereafter 14 Total future minimum lease 1,059 Less: imputed interest (129 ) $ 930

Note 9 - Other Liabilities (Tab

Note 9 - Other Liabilities (Tables)	12 Months Ended
	Nov. 30, 2024
Notes Tables
Other Liabilities [Table Text Block]	As of November 30, 2024 2023 Other current liabilities: Remediation liabilities $ 244 $ 212 Lease obligations 169 192 $ 413 $ 404 Other long-term liabilities: Remediation liabilities $ 400 $ 250 Lease obligations 761 609 $ 1,161 $ 859

Note 12 - General and Adminis_2

Note 12 - General and Administrative (Tables)	12 Months Ended
	Nov. 30, 2024
Notes Tables
General and Administrative Expenses [Table Text Block]	Years ended November 30, 2024 2023 2022 Share-based compensation (Note 13) $ 7,237 $ 8,731 $ 8,214 Salaries and benefits 7,958 7,009 6,710 Office expense 3,205 3,302 2,992 Professional fees 5,279 1,647 1,177 Corporate communications and regulatory 1,235 1,084 1,009 Depreciation 22 10 7 $ 24,936 $ 21,783 $ 20,109

Note 13 - Share-based Compens_2

Note 13 - Share-based Compensation (Tables)	12 Months Ended
	Nov. 30, 2024
Notes Tables
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Table Text Block]	Years ended November 30, 2024 2023 2022 Stock options $ 4,236 $ 4,594 $ 4,642 Performance share unit plan 2,727 3,910 3,345 Deferred share unit plan 274 227 227 $ 7,237 $ 8,731 $ 8,214
Share-Based Payment Arrangement, Option, Activity [Table Text Block]	Number of stock options Weighted- average exercise price per share Weighted- average remaining contractual term (years) Aggregate intrinsic value November 30, 2023 7,606,200 $ 6.59 Granted 3,088,900 4.12 Exercised (890,000 ) 3.67 Forfeited (765,663 ) 4.96 Expired (189,902 ) 7.16 November 30, 2024 8,849,535 $ 6.12 2.37 $ 138 Vested and exercisable as of November 30, 2024 4,488,049 $ 7.39 1.25 $ —
Schedule of Share-Based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]	Years ended November 30, 2024 2023 2022 Weighted-average assumptions used to value stock option awards: Expected volatility 48.7 % 48.4 % 46.5 % Expected term of options (years) 4 4 4 Expected dividend rate — — — Risk-free interest rate 4.29 % 3.85 % 1.13 % Weighted-average grant-date fair value $ 1.76 $ 2.40 $ 2.49 Intrinsic value of options exercised $ 471 $ 2,339 $ 5,723 Cash received from options exercised $ — $ — $ —
Schedule of Nonvested Performance-Based Units Activity [Table Text Block]	Number of PSU awards Weighted- average grant day fair value per award Aggregate intrinsic value November 30, 2023 1,605,500 $ 6.89 Granted 886,800 4.20 Retention awards vested (181,700 ) 5.65 Expired (319,300 ) 9.92 Forfeited (339,200 ) 5.33 Vested/Matured (18,600 ) 5.32 November 30, 2024 1,633,500 $ 5.32 $ —
Schedule of Share-Based Payment Award, Performance Share Units, Valuation Assumptions [Table Text Block]	Years ended November 30, 2024 2023 2022 Weighted-average assumptions used to value PSU awards: Expected volatility of Company shares 42.5 % 53.9 % 52.4 % Expected volatility of TSX index 29.2 % 37.5 % 34.5 % Expected correlation between Company shares and TSX 78.3 % 80.6 % 80.7 % Expected term of PSUs (years) 3 3 3 Risk-free interest rate 4.22 % 3.52 % 1.07 % Number of PSUs granted 886,800 605,500 516,700 Weighted-average grant-date fair value $ 4.20 $ 5.77 $ 6.75
Other PSU-related Information [Table Text Block]	Years ended November 30, 2024 2023 2022 Performance multiplier on PSUs vested 100 % — % 93 % Common shares issued 149,559 — 430,045 Total fair value of common shares issued $ 800 $ — $ 2,903 Withholding tax paid on PSUs vested $ 174 $ — $ 2,122

Note 14 - Other Income (Expen_2

Note 14 - Other Income (Expense), Net (Tables)	12 Months Ended
	Nov. 30, 2024
Notes Tables
Schedule of Other Nonoperating Income (Expense) [Table Text Block]	Years ended November 30, 2024 2023 2022 Gain on sale of mineral property $ 743 $ 556 $ — Change in fair market value of marketable securities 1,436 269 189 Foreign exchange gain (loss) 516 (43 ) 595 $ 2,695 $ 782 $ 784

Note 15 - Income Taxes (Tables)

Note 15 - Income Taxes (Tables)	12 Months Ended
	Nov. 30, 2024
Notes Tables
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]	Years ended November 30, 2024 2023 2022 Current: Canada $ — $ — $ — Foreign 724 39 (33 ) 724 39 (33 ) Deferred: Canada — — — Foreign — — — — — — Income tax (recovery) expense 724 $ 39 $ (33 )
Schedule of Income before Income Tax, Domestic and Foreign [Table Text Block]	Years ended November 30, 2024 2023 2022 Canada $ 289 $ (18,213 ) $ (17,062 ) Foreign (45,186 ) (28,551 ) (36,314 ) $ (44,897 ) $ (46,764 ) $ (53,376 )
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]	Years ended November 30, 2024 2023 2022 Loss before income taxes $ (44,897 ) $ (46,764 ) $ (53,376 ) Federal Income Tax Rate 15.00 % 15.00 % 15.00 % British Columbia Income Tax Rate 12.00 % 12.00 % 12.00 % Statutory income tax rate 27.00 % 27.00 % 27.00 % Combined federal and provincial statutory tax rate 27.0 % (12,122 ) 27.0 % (12,626 ) 27.0 % (14,412 ) Reconciling items: Non-deductible expenditures -4.9 % 2,207 -5.9 % 2,767 -4.5 % 2,411 Foreign accrual property income -3.8 % 1,715 -3.6 % 1,682 -1.2 % 666 Effect of different statutory tax rates on earnings or losses of subsidiaries 0.8 % (359 ) 0.9 % (407 ) 1.0 % (518 ) Withholding taxes -0.2 % 99 — — Change in valuation allowance on deferred tax assets -20.4 % 9,144 -18.5 % 8,623 -22.3 % 11,852 Other -0.1 % 40 — — 0.1 % (32 ) Income tax (recovery) expense -1.6 % $ 724 -0.1 % $ 39 0.1 % $ (33 )
Schedule of Deferred Tax Assets and Liabilities [Table Text Block]	As of November 30, 2024 2023 Deferred tax income assets: Net operating loss carry forwards $ 200,693 $ 193,508 Capital loss carry forwards 46,528 47,995 Mineral properties 605 624 Intangible assets 448 462 Property and equipment 183 184 Investment in affiliates 48,486 47,522 Unpaid interest expense 2,105 2,105 Unrealized loss on investments 56 196 Asset retirement obligation 183 131 Other 970 1,129 300,257 293,856 Valuation allowances (299,829 ) (293,536 ) 428 320 Deferred income tax liabilities: Notes receivable — — Capitalized assets and other (428 ) (320 ) (428 ) (320 ) Net deferred income tax assets (liabilities) $ — $ —
Summary of Operating Loss Carryforwards [Table Text Block]	Year of Expiry U.S. Canada 2025 $ 13,382 $ — 2026 18,493 17,252 2027 85 1,722 2028 11,223 — 2029 10,916 11,163 2030 16,580 14,854 2031 309,772 14,783 2032 14,529 18,042 2033 15,607 13,615 2034 16,383 9,795 2035 14,764 8,945 2036 14,111 8,802 2037 — 5,853 2038 — 5,965 2039 — 5,407 2040 — 6,439 2041 — — 2042 — 6,644 2043 — 4,993 2044 — 9,411 Indefinite 92,423 — $ 548,268 $ 163,685

Note 17 - Net Change in Opera_2

Note 17 - Net Change in Operating Assets and Liabilities (Tables)	12 Months Ended
	Nov. 30, 2024
Notes Tables
Cash Flow, Operating Capital [Table Text Block]	Years ended November 30, 2024 2023 2022 Changes in operating assets and liabilities: Other assets $ (100 ) $ 694 $ (1,962 ) Accounts payable and accrued liabilities 708 (62 ) 128 Accrued payroll and related benefits (309 ) 268 (92 ) Income taxes payable 226 — — Remediation liability (157 ) (1,435 ) (130 ) $ 368 $ (535 ) $ (2,056 )

Note 18 - Supplemental Cash F_2

Note 18 - Supplemental Cash Flow Information (Tables)	12 Months Ended
	Nov. 30, 2024
Notes Tables
Schedule of Cash Flow, Supplemental Disclosures [Table Text Block]	Years ended November 30, 2024 2023 2022 Interest and dividends received $ 5,539 $ 5,754 $ 1,684 Income taxes refunded — $ 325 $ 17 Income taxes paid $ 645 $ 75 $ —

Note 1 - The Company (Details T

Note 1 - The Company (Details Textual) $ in Thousands	12 Months Ended
	Nov. 30, 2024 USD ($)
Revenues, Total	$ 0
Donlin Gold [Member]
Equity Method Investment, Ownership Percentage	50%

Note 2 - Summary of Significa_2

Note 2 - Summary of Significant Accounting Policies (Details Textual) - USD ($) $ in Thousands	Nov. 30, 2024	Nov. 30, 2023	Nov. 30, 2020	Nov. 30, 2019	Nov. 30, 2018	Jul. 27, 2018
Financing Receivable, after Allowance for Credit Loss	$ 0	$ 0	$ 0	$ 24,421	$ 23,572
Note Receivable Upon Completion of Galore Creek Project Pre-feasibility [Member]
Financing Receivable, after Allowance for Credit Loss	$ 75,000					$ 75,000

Note 4 - Notes Receivable (Deta

Note 4 - Notes Receivable (Details Textual) $ in Thousands, $ in Thousands

1 Months Ended

12 Months Ended

Jan. 11, 2024 CAD ($)

Jul. 27, 2023 USD ($)

Nov. 03, 2021 CAD ($)

Jul. 27, 2021 USD ($)

Jul. 27, 2018 USD ($)

Dec. 31, 2022 CAD ($)

Nov. 30, 2024 USD ($)

Nov. 30, 2023 USD ($)

Nov. 30, 2022 USD ($)

Nov. 30, 2020 USD ($)

Nov. 30, 2019 USD ($)

Nov. 30, 2018 USD ($)

Financing Receivable, after Allowance for Credit Loss

$ 0

$ 0

$ 0

$ 24,421

$ 23,572

Proceeds from Collection of Notes Receivable

0

25,000

$ 0

Note Receivable Upon Completion of Galore Creek Project Pre-feasibility [Member]

Financing Receivable, after Allowance for Credit Loss

$ 75,000

$ 75,000

Proceeds from Collection of Notes Receivable

$ 25,000

$ 75,000

Note Receivable Upon Completion of Galore Creek Project Feasibility [Member]

Financing Receivable, after Allowance for Credit Loss

$ 1,000

25,000

Note Receivable Upon Approval of Galore Creek Project Construction Plan [Member]

Financing Receivable, after Allowance for Credit Loss

75,000

Note Receivable upon Completion of Minas San Roque Project Prefeasibility [Member]

Financing Receivable, after Allowance for Credit Loss

750

Note Receivable upon Completion of Minas San Roque Project Feasibility [Member]

Financing Receivable, after Allowance for Credit Loss

$ 0

Proceeds from Collection of Notes Receivable

$ 1,000

$ 750

Galore Creek [Member]

Proceeds from Divestiture of Interest in Subsidiaries and Affiliates

$ 100,000

Minas San Roque [Member]

Proceeds from Divestiture of Interest in Subsidiaries and Affiliates

$ 250

Interest Sold

49%

Note 4 - Notes Receivable - Not

Note 4 - Notes Receivable - Notes Receivable (Details) - USD ($) $ in Thousands	12 Months Ended
	Nov. 30, 2024	Nov. 30, 2023	Nov. 30, 2022
Balance – beginning of period	$ 0
Accretion of notes receivable (Note 4)	0	$ 579	$ 849
Payment received	0	(25,000)	$ 0
Balance – end of period	$ 0	$ 0

Note 5 - Investment in Donlin_3

Note 5 - Investment in Donlin Gold (Details Textual) - Donlin Gold [Member] $ in Millions	Nov. 30, 2024 USD ($)
Equity Method Investment, Ownership Percentage	50%
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%

Note 5 - Investment in Donlin_4

Note 5 - Investment in Donlin Gold - Summary of the Company's Investment in Donlin Gold LLC (Details) - USD ($) $ in Thousands	12 Months Ended
	Nov. 30, 2024	Nov. 30, 2023	Nov. 30, 2022
Current assets: Cash, prepaid expenses, and other receivables	$ 102,754	$ 127,219
Current liabilities: Accounts payable, accrued liabilities and lease obligations	(1,371)	(703)
Income (Loss) from Equity Method Investments	(12,921)	(18,529)	$ (28,163)
Donlin Gold [Member]
Current assets: Cash, prepaid expenses, and other receivables	3,745	3,410
Non-current assets: Right-of-use assets, property and equipment	965	1,456
Non-current assets: Mineral property	32,654	32,615
Current liabilities: Accounts payable, accrued liabilities and lease obligations	(1,947)	(1,669)
Non-current liabilities: Reclamation and lease obligations	(820)	(741)
Net assets	34,597	35,071
Donlin Gold [Member]
Balance – beginning of period	3,071	3,848	3,576
Mineral property expenditures	(12,351)	(17,918)	(27,690)
Depreciation	(530)	(571)	(427)
Accretion	(40)	(40)	(46)
Income (Loss) from Equity Method Investments	(12,921)	(18,529)	(28,163)
Funding	12,447	17,752	28,435
Balance – end of period	$ 2,597	$ 3,071	$ 3,848

Note 6 - Other Assets - Carryin

Note 6 - Other Assets - Carrying Amounts of Other Assets (Details) - USD ($) $ in Thousands	Nov. 30, 2024	Nov. 30, 2023
Interest receivable	$ 89	$ 99
Prepaid expenses	1,207	1,125
Other Assets, Current	1,530	1,470
Marketable equity securities	$ 3,387	$ 2,102
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Other Assets, Noncurrent	Other Assets, Noncurrent
Right-of-use assets	$ 896	$ 757
Office equipment	119	141
Other Assets, Noncurrent	4,402	3,000
Nonrelated Party [Member]
Accounts receivable	22	43
Related Party [Member]
Accounts receivable	$ 212	$ 203

Note 7 - Promissory Note (Detai

Note 7 - Promissory Note (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Nov. 30, 2024	Nov. 30, 2023	Nov. 30, 2022	Nov. 30, 2021
Notes Payable	$ 151,522	$ 136,748	$ 123,685	$ 115,723
Debt Instrument, Variable Interest Rate, Type [Extensible Enumeration]	Prime Rate [Member]
Barrick [Member] | Notes Payable, Other Payables [Member]
Notes Payable	$ 151,522
Debt Instrument, Face Amount	51,576
Interest Payable	$ 99,946
Debt Instrument, Basis Spread on Variable Rate	2%
Debt Instrument, Interest Rate, Effective Percentage	10.50%	10.30%	6.80%
Percentage of Specified Revenue from Which the Promissory Note and Accrued Interest Are Payable	85%

Note 7 - Promissory Note - Sche

Note 7 - Promissory Note - Schedule of Debt (Details) - USD ($) $ in Thousands	12 Months Ended
	Nov. 30, 2024	Nov. 30, 2023	Nov. 30, 2022
Balance – beginning of period	$ 136,748	$ 123,685	$ 115,723
Interest expense on promissory note	14,774	13,063	7,962
Balance – end of period	$ 151,522	$ 136,748	$ 123,685

Note 8 - Leases (Details Textua

Note 8 - Leases (Details Textual)	Nov. 30, 2024
Lessee, Operating Lease, Term of Contract (Year)	5 years
Lessee, Operating Lease, Renewal Term	5 years

Note 8 - Leases - Lease Cost (D

Note 8 - Leases - Lease Cost (Details) - USD ($) $ in Thousands	12 Months Ended
	Nov. 30, 2024	Nov. 30, 2023	Nov. 30, 2022
Cash paid for operating leases	$ 232	$ 193	$ 238
Variable lease cost	135	121	126
Short-term lease cost	6	5	5
Lease, Cost	373	319	369
ROU assets obtained in exchange for lease liabilities	$ 0	$ 0	$ 750
Remaining lease term (years) – operating leases (Year)	4 years 7 months 6 days	4 years 9 months 18 days	5 years 7 months 6 days
Discount rate – operating leases	6.70%	5.90%	5.80%
General and Administrative Expense [Member]
Operating lease cost	$ 225	$ 232	$ 234
Variable lease cost	135	121	126
Short-term lease cost	6	5	5
Lease, Cost	$ 366	$ 358	$ 365

Note 8 - Leases - Minimum Lease

Note 8 - Leases - Minimum Lease Payments (Details) $ in Thousands	Nov. 30, 2024 USD ($)
Lessee, Operating Lease, Liability, to be Paid, Year One	$ 216
Lessee, Operating Lease, Liability, to be Paid, Year Two	215
Lessee, Operating Lease, Liability, to be Paid, Year Three	226
Lessee, Operating Lease, Liability, to be Paid, Year Four	247
Lessee, Operating Lease, Liability, to be Paid, Year Five	141
Thereafter	$ 14
Operating Lease, Liability, Statement of Financial Position [Extensible Enumeration]	us-gaap_Liabilities
Total future minimum lease payments	$ 1,059
Less: imputed interest	(129)
Total	$ 930

Note 9 - Other Liabilities - Cu

Note 9 - Other Liabilities - Current and Long Term Liabilities (Details) - USD ($) $ in Thousands	Nov. 30, 2024	Nov. 30, 2023
Remediation liabilities, current	$ 244	$ 212
Lease obligations, current	169	192
Other Liabilities, Current, Total	413	404
Remediation liabilities, noncurrent	400	250
Lease obligations, noncurrent	761	609
Other Liabilities, Noncurrent, Total	$ 1,161	$ 859

Note 10 - Share Capital (Detail

Note 10 - Share Capital (Details Textual) - shares	Nov. 30, 2024	Nov. 30, 2023	Nov. 30, 2019
Common Stock, Shares Authorized	1,000,000,000	1,000,000,000
Common Stock, Shares, Outstanding, Ending Balance (in shares)	334,567,187	334,246,859
Common Stock, Shares, Issued	334,567,187	334,246,859
Preferred Stock, Shares Authorized			10,000,000
Preferred Stock, Shares Issued (in shares)	0	0
Preferred Stock, Shares Outstanding, Ending Balance (in shares)	0	0

Note 11 - Fair Value Accounti_2

Note 11 - Fair Value Accounting (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Nov. 30, 2024	Nov. 30, 2023
Equity Securities, FV-NI, Current	$ 3,387	$ 2,102
Barrick [Member] | Notes Payable, Other Payables [Member]
Debt Instrument, Basis Spread on Variable Rate	2%
Barrick [Member] | Notes Payable, Other Payables [Member] | Prime Rate [Member]
Debt Instrument, Basis Spread on Variable Rate	2%

Note 12 - General and Adminis_3

Note 12 - General and Administrative - Summary of General and Administrative Expenses (Details) - USD ($) $ in Thousands	12 Months Ended
	Nov. 30, 2024	Nov. 30, 2023	Nov. 30, 2022
Share-based compensation (Note 13)	$ 7,237	$ 8,731	$ 8,214
Salaries and benefits	7,958	7,009	6,710
Office expense	3,205	3,302	2,992
Professional fees	5,279	1,647	1,177
Corporate communications and regulatory	1,235	1,084	1,009
Depreciation	22	10	7
General and Administrative Expense	$ 24,936	$ 21,783	$ 20,109

Note 13 - Share-based Compens_3

Note 13 - Share-based Compensation (Details Textual) - USD ($) $ / shares in Units, $ in Thousands				12 Months Ended
	Dec. 01, 2024	Nov. 30, 2024	Dec. 15, 2022	Nov. 30, 2024	Nov. 30, 2023	Nov. 30, 2022
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Available for Grant		29,350,311		29,350,311
Share-Based Payment Arrangement, Nonvested Award, Option, Cost Not yet Recognized, Amount		$ 2,348		$ 2,348
Share-Based Payment Arrangement, Option [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Expiration Period (Year)				5 years
Share-based Compensation Arrangement by Share-based Payment Award, Portion Vesting Per Year		33.33%		33.33%
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Nonvested, Number of Shares		4,361,486		4,361,486
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition				2 years
Performance Share Units [Member]
Share-Based Payment Arrangement, Nonvested Award, 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		1
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Nonvested, Number		1,633,500		1,633,500	1,605,500
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Vested in Period		408,400		18,600
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Multiplier	25%
Share-Based Compensation Arrangement by Share-Based Payment Award, Non-Option Equity Instruments, Outstanding, Number (in shares)		1,225,100		1,225,100
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount		$ 3,715		$ 3,715
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares)				886,800	605,500	516,700
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value				$ 4.2
Performance Share Units [Member] | Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Common Shares Per Award, Adjusted, Multiplier		0%		0%
Performance Share Units [Member] | Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Common Shares Per Award, Adjusted, Multiplier		150%		150%
Retention Performance Stock Units [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Vested in Period				181,700
Retention Performance Stock Units [Member] | Executive Officer [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares)			181,700
Deferred Share Units [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares)				76,781
Deferred Share Units [Member] | Director [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Non-Option Equity Instruments, Outstanding, Number (in shares)		314,715		314,715
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares)					43,658	38,470
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value				$ 4.62	$ 5.04	$ 5.74
Share-Based Compensation Arrangement by Share-Based Payment Award, Shares Issued in Period				46,405	48,446	52,930

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, 2024	Nov. 30, 2023	Nov. 30, 2022
Stock options	$ 7,237	$ 8,731	$ 8,214
Share-Based Payment Arrangement, Option [Member]
Stock options	4,236	4,594	4,642
Performance Share Units [Member]
Stock options	2,727	3,910	3,345
Deferred Share Units [Member]
Stock options	$ 274	$ 227	$ 227

Note 13 - Share-based Compens_5

Note 13 - Share-based Compensation - Summary of Stock Options Outstanding (Details) $ / shares in Units, $ in Thousands	12 Months Ended
	Nov. 30, 2024 USD ($) $ / shares shares
Balance shares (in shares) | shares	7,606,200
Weighted average exercise price outstanding, balance (in dollars per share) | $ / shares	$ 6.59
Granted (in shares) | shares	3,088,900
Granted, weighted average exercise price (in dollars per share) | $ / shares	$ 4.12
Exercised (in shares) | shares	(890,000)
Exercised, weighted average exercise price (in dollars per share) | $ / shares	$ 3.67
Forfeited (in shares) | shares	(765,663)
Forfeited (in dollars per share) | $ / shares	$ 4.96
Expired (in shares) | shares	(189,902)
Expired (in dollars per share) | $ / shares	$ 7.16
Vested and exercisable (in shares) | shares	8,849,535
Vested and exercisable, weighted average exercise price outstanding (in dollars per share) | $ / shares	$ 6.12
Vested and exercisable, weighted-average remaining contractual term (Year)	2 years 4 months 13 days
Vested and exercisable, aggregate intrinsic value | $	$ 138
Vested and exercisable as of November 30, 2024 (in shares) | shares	4,488,049
Vested and exercisable as of November 30, 2024 (in dollars per share) | $ / shares	$ 7.39
Vested and exercisable as of November 30, 2024 (Year)	1 year 3 months
Vested and exercisable as of November 30, 2024 | $	$ 0

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, 2024	Nov. 30, 2023	Nov. 30, 2022
Expected volatility	48.70%	48.40%	46.50%
Expected term of options (years) (Year)	4 years	4 years	4 years
Expected dividend rate	0%	0%	0%
Risk-free interest rate	4.29%	3.85%	1.13%
Weighted-average grant-date fair value (in dollars per share)	$ 1.76	$ 2.4	$ 2.49
Intrinsic value of options exercised	$ 471	$ 2,339	$ 5,723
Cash received from options exercised	$ 0	$ 0	$ 0

Note 13 - Share-based Compens_7

Note 13 - Share-based Compensation - PSU Awards Outstanding and PSU Activity (Details) - USD ($) $ / shares in Units, $ in Thousands		12 Months Ended
	Nov. 30, 2024	Nov. 30, 2024	Nov. 30, 2023	Nov. 30, 2022
Expired (in shares)		189,902
Expired (in dollars per share)		$ 7.16
Forfeited (in shares)		(765,663)
Forfeited (in dollars per share)		$ 4.96
Performance Share Units [Member]
Balance, PSU awards (in shares)		1,605,500
Balance, PSU award, weighted-average grant day fair value (in dollars per share)		$ 6.89
Granted (in shares)		886,800	605,500	516,700
Granted, weighted-average grant day fair value (in dollars per share)		$ 4.2
Vested (in shares)	(408,400)	(18,600)
Vested, weighted-average grant day fair value (in dollars per share)		$ 5.32
Expired (in shares)		(319,300)
Expired (in dollars per share)		$ 9.92
Forfeited (in shares)		(339,200)
Forfeited (in dollars per share)		$ 5.33
November 30, 2024 (in shares)	1,633,500	1,633,500	1,605,500
November 30, 2024 (in dollars per share)	$ 5.32	$ 5.32	$ 6.89
Balance, PSU Awards, Aggregate intrinsic value	$ 0	$ 0
Retention Performance Stock Units [Member]
Vested (in shares)		(181,700)
Vested, weighted-average grant day fair value (in dollars per share)		$ 5.65

Note 13 - Share-based Compens_8

Note 13 - Share-based Compensation - Performance Share Units, Valuation Assumptions (Details) - $ / shares	12 Months Ended
	Nov. 30, 2024	Nov. 30, 2023	Nov. 30, 2022
Expected volatility	48.70%	48.40%	46.50%
Expected term of options (years) (Year)	4 years	4 years	4 years
Risk-free interest rate	4.29%	3.85%	1.13%
Weighted-average grant-date fair value (in dollars per share)	$ 1.76	$ 2.4	$ 2.49
Performance Share Units [Member]
Expected volatility	42.50%	53.90%	52.40%
Expected volatility of TSX index	29.20%	37.50%	34.50%
Expected correlation between Company shares and TSX	78.30%	80.60%	80.70%
Expected term of options (years) (Year)	3 years	3 years	3 years
Risk-free interest rate	4.22%	3.52%	1.07%
Granted (in shares)	886,800	605,500	516,700
Weighted-average grant-date fair value (in dollars per share)	$ 4.2	$ 5.77	$ 6.75

Note 13 - Share-based Compens_9

Note 13 - Share-based Compensation - Other PSU-related Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Nov. 30, 2024	Nov. 30, 2023	Nov. 30, 2022
Financing activities:	$ 174	$ 0	$ 2,122
Performance Share Units [Member]
Performance multiplier on PSUs vested	100%	0%	93%
Common shares issued (thousands) (in shares)	149,559	0	430,045
Total fair value of common shares issued	$ 800	$ 0	$ 2,903
Financing activities:	$ 174	$ 0	$ 2,122

Note 14 - Other Income (Expen_3

Note 14 - Other Income (Expense), Net - Summary of Other Income (Expense) (Details) - USD ($) $ in Thousands	12 Months Ended
	Nov. 30, 2024	Nov. 30, 2023	Nov. 30, 2022
Gain on sale of mineral property	$ 743	$ 556	$ 0
Change in fair market value of marketable securities	1,436	269	189
Foreign exchange (loss) gain	516	(43)	595
Nonoperating Income (Expense)	$ 2,695	$ 782	$ 784

Note 15 - Income Taxes (Details

Note 15 - Income Taxes (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Nov. 30, 2024	Nov. 30, 2023	Nov. 30, 2022	Nov. 30, 2019
Effective Income Tax Rate Reconciliation, Combined Federal and Provincial Statutory Income Tax Rate, Percent	27%	27%	27%
Deferred Tax Assets, Valuation Allowance	$ 299,829	$ 293,536
Unrecognized Tax Benefits, Ending Balance	0	0		$ 0
Capital Loss Carryforward [Member]
Tax Credit Carryforward, Amount	$ 344,655	$ 355,516

Note 15 - Income Taxes - Compon

Note 15 - Income Taxes - Components of Income Tax Expense (Benefit) (Details) - USD ($) $ in Thousands	12 Months Ended
	Nov. 30, 2024	Nov. 30, 2023	Nov. 30, 2022
Canada	$ 0	$ 0	$ 0
Foreign	724	39	(33)
Current Income Tax Expense (Benefit)	724	39	(33)
Canada	0	0	0
Foreign	0	0	0
Deferred Income Tax Expense (Benefit)	0	0	0
Income tax expense (recovery)	$ 724	$ 39	$ (33)

Note 15 - Income Taxes - Loss B

Note 15 - Income Taxes - Loss Before Income Tax (Details) - USD ($) $ in Thousands	12 Months Ended
	Nov. 30, 2024	Nov. 30, 2023	Nov. 30, 2022
Canada	$ 289	$ (18,213)	$ (17,062)
Foreign	(45,186)	(28,551)	(36,314)
Loss before income taxes	$ (44,897)	$ (46,764)	$ (53,376)

Note 15 - Income Taxes - Effect

Note 15 - Income Taxes - Effective Income Tax Rate Reconciliation (Details) - USD ($) $ in Thousands	12 Months Ended
	Nov. 30, 2024	Nov. 30, 2023	Nov. 30, 2022
Loss before income taxes	$ (44,897)	$ (46,764)	$ (53,376)
Federal Income Tax Rate	15%	15%	15%
British Columbia Income Tax Rate	12%	12%	12%
Statutory income tax rate	27%	27%	27%
Effective Income Tax Rate Reconciliation, Combined Federal and Provincial Statutory Income Tax Rate, Percent	27%	27%	27%
Combined federal and provincial statutory tax rate	$ (12,122)	$ (12,626)	$ (14,412)
Non-deductible expenditures	(4.90%)	(5.90%)	(4.50%)
Non-deductible expenditures	$ 2,207	$ 2,767	$ 2,411
Foreign accrual property income	(3.80%)	(3.60%)	(1.20%)
Foreign accrual property income	$ 1,715	$ 1,682	$ 666
Effect of different statutory tax rates on earnings or losses of subsidiaries	0.80%	0.90%	1%
Effect of different statutory tax rates on earnings or losses of subsidiaries	$ (359)	$ (407)	$ (518)
Withholding taxes	(0.20%)
Withholding taxes	$ 99	$ 0	$ 0
Change in valuation allowance on deferred tax assets	(20.40%)	(18.50%)	(22.30%)
Change in valuation allowance on deferred tax assets	$ 9,144	$ 8,623	$ 11,852
Other	(0.10%)	0%	0.10%
Other	$ 40	$ 0	$ (32)
Income tax (recovery) expense	(1.60%)	(0.10%)	0.10%
Income tax expense (recovery)	$ 724	$ 39	$ (33)

Note 15 - Income Taxes - Comp_2

Note 15 - Income Taxes - Components of the Company's Deferred Income Tax Assets (Liabilities) (Details) - USD ($) $ in Thousands	Nov. 30, 2024	Nov. 30, 2023
Net operating loss carry forwards	$ 200,693	$ 193,508
Capital loss carry forwards	46,528	47,995
Mineral properties	605	624
Intangible assets	448	462
Property and equipment	183	184
Investment in affiliates	48,486	47,522
Unpaid interest expense	2,105	2,105
Unrealized loss on investments	56	196
Asset retirement obligation	183	131
Other	970	1,129
Deferred Tax Assets, Gross	300,257	293,856
Valuation allowances	(299,829)	(293,536)
Deferred Tax Assets, Net of Valuation Allowance	428	320
Notes receivable	0	0
Capitalized assets and other	(428)	(320)
Deferred Tax Liabilities, Gross	(428)	(320)
Net deferred income tax assets (liabilities)	$ 0	$ 0

Note 15 - Income Taxes - Summar

Note 15 - Income Taxes - Summary of Operating Loss Carryforwards (Details) $ in Thousands	Nov. 30, 2024 USD ($)
Foreign Tax Jurisdiction [Member] | Internal Revenue Service (IRS) [Member]
Operating Loss Carryforwards	$ 548,268
Foreign Tax Jurisdiction [Member] | Internal Revenue Service (IRS) [Member] | Expiring in 2025 [Member]
Operating Loss Carryforwards	13,382
Foreign Tax Jurisdiction [Member] | Internal Revenue Service (IRS) [Member] | Expiring in 2026 [Member]
Operating Loss Carryforwards	18,493
Foreign Tax Jurisdiction [Member] | Internal Revenue Service (IRS) [Member] | Expiring in 2027 [Member]
Operating Loss Carryforwards	85
Foreign Tax Jurisdiction [Member] | Internal Revenue Service (IRS) [Member] | Expiring in 2028 [Member]
Operating Loss Carryforwards	11,223
Foreign Tax Jurisdiction [Member] | Internal Revenue Service (IRS) [Member] | Expiring in 2029 [Member]
Operating Loss Carryforwards	10,916
Foreign Tax Jurisdiction [Member] | Internal Revenue Service (IRS) [Member] | Expiring in 2030 [Member]
Operating Loss Carryforwards	16,580
Foreign Tax Jurisdiction [Member] | Internal Revenue Service (IRS) [Member] | Expiring in 2031 [Member]
Operating Loss Carryforwards	309,772
Foreign Tax Jurisdiction [Member] | Internal Revenue Service (IRS) [Member] | Expiring in 2032 [Member]
Operating Loss Carryforwards	14,529
Foreign Tax Jurisdiction [Member] | Internal Revenue Service (IRS) [Member] | Expiring in 2033 [Member]
Operating Loss Carryforwards	15,607
Foreign Tax Jurisdiction [Member] | Internal Revenue Service (IRS) [Member] | Expiring in 2034 [Member]
Operating Loss Carryforwards	16,383
Foreign Tax Jurisdiction [Member] | Internal Revenue Service (IRS) [Member] | Expiring in 2035 [Member]
Operating Loss Carryforwards	14,764
Foreign Tax Jurisdiction [Member] | Internal Revenue Service (IRS) [Member] | Expiring in 2036 [Member]
Operating Loss Carryforwards	14,111
Foreign Tax Jurisdiction [Member] | Internal Revenue Service (IRS) [Member] | Expiring in 2037 [Member]
Operating Loss Carryforwards	0
Foreign Tax Jurisdiction [Member] | Internal Revenue Service (IRS) [Member] | Expiring in 2038 [Member]
Operating Loss Carryforwards	0
Foreign Tax Jurisdiction [Member] | Internal Revenue Service (IRS) [Member] | Expiring in 2039 [Member]
Operating Loss Carryforwards	0
Foreign Tax Jurisdiction [Member] | Internal Revenue Service (IRS) [Member] | Expiring in 2040 [Member]
Operating Loss Carryforwards	0
Foreign Tax Jurisdiction [Member] | Internal Revenue Service (IRS) [Member] | Expiring In 2041 [Member]
Operating Loss Carryforwards	0
Foreign Tax Jurisdiction [Member] | Internal Revenue Service (IRS) [Member] | Expiring in 2042 [Member]
Operating Loss Carryforwards	0
Foreign Tax Jurisdiction [Member] | Internal Revenue Service (IRS) [Member] | Expiring 2043 [Member]
Operating Loss Carryforwards	0
Foreign Tax Jurisdiction [Member] | Internal Revenue Service (IRS) [Member] | Expiring 2044 [Member]
Operating Loss Carryforwards	0
Foreign Tax Jurisdiction [Member] | Internal Revenue Service (IRS) [Member] | Indefinite [Member]
Operating Loss Carryforwards	92,423
Domestic Tax Jurisdiction [Member] | Canada Revenue Agency [Member]
Operating Loss Carryforwards	163,685
Domestic Tax Jurisdiction [Member] | Canada Revenue Agency [Member] | Expiring in 2025 [Member]
Operating Loss Carryforwards	0
Domestic Tax Jurisdiction [Member] | Canada Revenue Agency [Member] | Expiring in 2026 [Member]
Operating Loss Carryforwards	17,252
Domestic Tax Jurisdiction [Member] | Canada Revenue Agency [Member] | Expiring in 2027 [Member]
Operating Loss Carryforwards	1,722
Domestic Tax Jurisdiction [Member] | Canada Revenue Agency [Member] | Expiring in 2028 [Member]
Operating Loss Carryforwards	0
Domestic Tax Jurisdiction [Member] | Canada Revenue Agency [Member] | Expiring in 2029 [Member]
Operating Loss Carryforwards	11,163
Domestic Tax Jurisdiction [Member] | Canada Revenue Agency [Member] | Expiring in 2030 [Member]
Operating Loss Carryforwards	14,854
Domestic Tax Jurisdiction [Member] | Canada Revenue Agency [Member] | Expiring in 2031 [Member]
Operating Loss Carryforwards	14,783
Domestic Tax Jurisdiction [Member] | Canada Revenue Agency [Member] | Expiring in 2032 [Member]
Operating Loss Carryforwards	18,042
Domestic Tax Jurisdiction [Member] | Canada Revenue Agency [Member] | Expiring in 2033 [Member]
Operating Loss Carryforwards	13,615
Domestic Tax Jurisdiction [Member] | Canada Revenue Agency [Member] | Expiring in 2034 [Member]
Operating Loss Carryforwards	9,795
Domestic Tax Jurisdiction [Member] | Canada Revenue Agency [Member] | Expiring in 2035 [Member]
Operating Loss Carryforwards	8,945
Domestic Tax Jurisdiction [Member] | Canada Revenue Agency [Member] | Expiring in 2036 [Member]
Operating Loss Carryforwards	8,802
Domestic Tax Jurisdiction [Member] | Canada Revenue Agency [Member] | Expiring in 2037 [Member]
Operating Loss Carryforwards	5,853
Domestic Tax Jurisdiction [Member] | Canada Revenue Agency [Member] | Expiring in 2038 [Member]
Operating Loss Carryforwards	5,965
Domestic Tax Jurisdiction [Member] | Canada Revenue Agency [Member] | Expiring in 2039 [Member]
Operating Loss Carryforwards	5,407
Domestic Tax Jurisdiction [Member] | Canada Revenue Agency [Member] | Expiring in 2040 [Member]
Operating Loss Carryforwards	6,439
Domestic Tax Jurisdiction [Member] | Canada Revenue Agency [Member] | Expiring In 2041 [Member]
Operating Loss Carryforwards	0
Domestic Tax Jurisdiction [Member] | Canada Revenue Agency [Member] | Expiring in 2042 [Member]
Operating Loss Carryforwards	6,644
Domestic Tax Jurisdiction [Member] | Canada Revenue Agency [Member] | Expiring 2043 [Member]
Operating Loss Carryforwards	4,993
Domestic Tax Jurisdiction [Member] | Canada Revenue Agency [Member] | Expiring 2044 [Member]
Operating Loss Carryforwards	9,411
Domestic Tax Jurisdiction [Member] | Canada Revenue Agency [Member] | Indefinite [Member]
Operating Loss Carryforwards	$ 0

Note 16 - Related Party Trans_2

Note 16 - Related Party Transactions (Details Textual) - Donlin Gold [Member] - USD ($) $ in Thousands	12 Months Ended
	Nov. 30, 2024	Nov. 30, 2023	Nov. 30, 2022
Accounts Receivable, after Allowance for Credit Loss	$ 212	$ 203
Management and Administrative Services Provided [Member]
Related Party Transaction, Amounts of Transaction	$ 731	$ 990	$ 681

Note 17 - Net Change in Opera_3

Note 17 - Net Change in Operating Assets and Liabilities - Net Change in Operating Assets and Liabilities (Details) - USD ($) $ in Thousands	12 Months Ended
	Nov. 30, 2024	Nov. 30, 2023	Nov. 30, 2022
Other assets	$ (100)	$ 694	$ (1,962)
Accounts payable and accrued liabilities	708	(62)	128
Accrued payroll and related benefits	(309)	268	(92)
Income taxes payable	226	0	0
Remediation liability	(157)	(1,435)	(130)
Increase (Decrease) in Operating Capital	$ 368	$ (535)	$ (2,056)

Note 18 - Supplemental Cash F_3

Note 18 - Supplemental Cash Flow Information - Supplemental Cash Flow Disclosures (Details) - USD ($) $ in Thousands	12 Months Ended
	Nov. 30, 2024	Nov. 30, 2023	Nov. 30, 2022
Interest and dividends received	$ 5,539	$ 5,754	$ 1,684
Income taxes refunded	0	325	17
Income taxes paid	$ 645	$ 75	$ 0