Trilogy Metals (TMQ) 10-K 3 Feb 17 2016 FY Annual report Financial data

Document And Entity Information

Document And Entity Information - USD ($) $ in Millions	12 Months Ended
	Nov. 30, 2016	Feb. 02, 2017	May 31, 2016
Document Information [Line Items]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Nov. 30, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	FY
Entity Registrant Name	Trilogy Metals Inc.
Entity Central Index Key	1,543,418
Current Fiscal Year End Date	--11-30
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Smaller Reporting Company
Entity Public Float			$ 30.1
Trading Symbol	TMQ
Entity Common Stock, Shares Outstanding		105,501,761

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Nov. 30, 2016	Nov. 30, 2015
Current assets
Cash and cash equivalents	$ 7,340	$ 16,064
Accounts receivable	47	39
Deposits and prepaid amounts	724	688
Current investments (note 10)	7,538	0
Current assets held for sale (note 3)	0	94
Total Current Assets	15,649	16,885
Assets held for sale (note 3)	0	3,537
Investments (note 10)	297	0
Plant and equipment (note 5)	215	173
Mineral properties and development costs (note 6)	30,586	30,586
Total Assets	46,747	51,181
Current liabilities
Accounts payable and accrued liabilities (note 7)	593	712
Current liabilities held for sale (note 3)	0	39
Total Liabilities	593	751
Shareholders' equity
Share capital (note 8) - unlimited common shares authorized, no par value Issued -105,286,469 (2015 - 104,796,421)	136,357	136,040
Warrants (note 8(e))	2,163	2,163
Contributed surplus	124	124
Contributed surplus - options (note 8(a, b, c))	18,134	17,841
Contributed surplus - units (note 8(d))	1,140	1,164
Deficit accumulated during the exploration stage	(111,764)	(106,902)
Total Stockholders' Equity	46,154	50,430
Total Liabilities and Stockholders' Equity	$ 46,747	$ 51,181

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Nov. 30, 2016	Nov. 30, 2015
Common Stock, Shares Authorized
Common Stock, No Par Value
Common Stock, Shares, Issued	105,286,469	104,796,421

Consolidated Statements of Loss

Consolidated Statements of Loss and Comprehensive Loss - USD ($) $ in Thousands	12 Months Ended
	Nov. 30, 2016	Nov. 30, 2015	Nov. 30, 2014
Expenses
Amortization	$ 79	$ 292	$ 750
Foreign exchange loss	204	3	2
General and administrative	1,337	1,346	1,484
Investor relations	201	88	51
Mineral properties expense (note 6(c))	5,037	4,167	2,512
Professional fees	442	1,346	952
Salaries	1,003	1,085	3,012
Salaries - stock-based compensation	615	831	887
Total expenses	8,918	9,158	9,650
Other items
Unrealized gain on held for trading investments	(88)	0	0
Gain on sale of investments	(57)	0	0
Interest and other income	(61)	(24)	(2)
Loss from continued operations for the period	8,712	9,134	9,648
Loss from discontinued operations	598	398	0
Gain on sale of Sunward Investments Ltd.	(4,448)	0	0
(Income)/loss from discontinued operations for the year (note 3)	(3,850)	398	0
Loss and comprehensive loss for the year	$ 4,862	$ 9,532	$ 9,648
Basic and diluted loss from continuing operations per common share	$ 0.08	$ 0.11	$ 0.17
Basic (earnings)/loss from discontinued operations per common share	(0.04)	0.01	0
Diluted (earnings)/loss from discontinued operations per common share	(0.04)	0.01	0
Basic and diluted loss per common share	$ 0.05	$ 0.12	$ 0.17
Weighted average number of common shares outstanding	105,103,952	80,312,913	56,268,326

Consolidated Statements of Chan

Consolidated Statements of Changes in Shareholders' Equity - USD ($) $ in Thousands	Total	Share capital [Member]	Warrant [Member]	Contributed Surplus [Member]	Contributed surplus - options [Member]	Contributed surplus - units [Member]	Deficit [Member]
Beginning Balance at Nov. 30, 2013	$ 37,157	$ 104,895	$ 0	$ 152	$ 17,248	$ 2,584	$ (87,722)
Beginning Balance (Shares) at Nov. 30, 2013		53,066,656
Exercise Of Novagold Arrangement Options	16	$ 631	0	0	(615)	0	0
Exercise Of Novagold Arrangement Options (Shares)		46,929
Novagold Performance Share Units	0	$ 28	0	(28)	0	0	0
Novagold Performance Share Units (Shares)		14,166
Private placement	$ 7,231	$ 5,068	2,163	0	0	0	0
Private Placement (shares)	6,521,740	6,521,740
Restricted Share Units	$ 0	$ 929	0	0	0	(929)	0
Restricted Share Units (Shares)		492,501
Deferred Share Units	204	$ 282	0	0	0	(78)	0
Deferred Share Units (Shares)		154,373
Stock-based compensation	887	$ 0	0	0	456	431	0
Loss for the year	(9,648)	0	0	0	0	0	(9,648)
Ending Balance at Nov. 30, 2014	35,847	$ 111,833	2,163	124	17,089	2,008	(97,370)
Ending Balance (Shares) at Nov. 30, 2014		60,296,365
Issuance pursuant to Sunward Arrangement	22,959	$ 22,851	0	0	108	0	0
Issuance pursuant to Sunward Arrangement (Shares)		43,116,312
Restricted Share Units to settle liability	183	$ 0	0	0	0	183	0
Exercise of options	0	$ 7	0	0	(7)	0	0
Exercise of options (Shares)		7,499
Exercise Of Sunward Arrangement Options	$ 142	$ 177	0	0	(35)	0	0
Exercise of Sunward Arrangement Options (shares)	347,999	347,999
Private placement	$ 0
Restricted Share Units	0	$ 819	0	0	0	(819)	0
Restricted Share Units (Shares)		795,368
Deferred Share Units	0	$ 353	0	0	0	(353)	0
Deferred Share Units (Shares)		232,878
Stock-based compensation	831	$ 0	0	0	686	145	0
Loss for the year	(9,532)	0	0	0	0	0	(9,532)
Ending Balance at Nov. 30, 2015	50,430	$ 136,040	2,163	124	17,841	1,164	(106,902)
Ending Balance (Shares) at Nov. 30, 2015		104,796,421
Exercise of options	$ 0	$ 65	0	0	(65)	0	0
Exercise of options (Shares)	(422,199)	162,854
Private placement	$ 0
Restricted Share Units	(29)	$ 34	0	0	0	(63)	0
Restricted Share Units (Shares)		108,399
Deferred Share Units	0	$ 218	0	0	0	(218)	0
Deferred Share Units (Shares)		218,795
Stock-based compensation	615	$ 0	0	0	358	257	0
Loss for the year	(4,862)	0	0	0	0	0	(4,862)
Ending Balance at Nov. 30, 2016	$ 46,154	$ 136,357	$ 2,163	$ 124	$ 18,134	$ 1,140	$ (111,764)
Ending Balance (Shares) at Nov. 30, 2016		105,286,469

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Nov. 30, 2016	Nov. 30, 2015	Nov. 30, 2014
Cash flows used in operating activities
Loss for the year	$ (4,862)	$ (9,532)	$ (9,648)
Items not affecting cash
Amortization	174	355	750
Gain on sale of Sunward Investments Ltd.	(4,448)	0	0
Unrealized gain on held for trading investments	(88)	0	0
Unrealized foreign exchange loss	184	0	0
Gain on sale of investments	(57)	0	0
Stock-based compensation	615	831	887
Net change in non-cash working capital
Decrease (increase) in accounts receivable	(8)	156	(86)
Decrease (increase) in deposits and prepaid amounts	(59)	(28)	16
Increase (decrease) in accounts payable, accrued liabilities and due to related parties	(143)	(217)	(558)
Net Cash Provided by (Used in) Operating Activities	(8,692)	(8,435)	(8,639)
Cash flows from (used in) financing activities
Proceeds from private placement, net	0	0	7,231
Proceeds received on exercise of options	0	0	16
Proceeds received on exercise of Sunward Arrangement Options	0	142	0
Settlement of Restricted Share Units	(29)	0	0
Net Cash Provided by (Used in) Financing Activities	(29)	142	7,247
Cash flows from (used in) investing activities
Acquisition of plant & equipment	(122)	(48)	(18)
Proceeds from disposition of equipment	0	7	0
Proceeds from the sale of investments	228	0	0
Net cash outflow from the disposition of Sunward Investments Ltd.	(184)	0	0
Cash acquired through Sunward Arrangement	0	19,399	0
Net Cash Provided by (Used in) Investing Activities	(78)	19,358	(18)
Increase (decrease) in cash and cash equivalents	(8,799)	11,065	(1,410)
Cash and cash equivalents - beginning of year	16,139	5,074	6,484
Cash and cash equivalents - end of year	7,340	16,139	5,074
Less cash and cash equivalents of discontinued operations - end of year	0	(75)	0
Cash and cash equivalents of continuing operations - end of year	7,340	16,064	5,074
Non-cash investing and financing activities
Acquisition of investments from the sale of Sunward Investments Ltd.	$ 8,102	$ 0	$ 0
Issuance of common shares and arrangement options on acquisition of Sunward	0	22,959	0

Nature of operations

Nature of operations	12 Months Ended
	Nov. 30, 2016
Nature of operations [Text Block]	1 Nature of operations Trilogy Metals Inc., formerly NovaCopper Inc., (“Trilogy” or the “Company”) was incorporated in British Columbia under the Business Corporations Act (BC)

Summary of significant accounti

Summary of significant accounting policies	12 Months Ended
	Nov. 30, 2016
Summary of significant accounting policies [Text Block]	2 Summary of significant accounting policies These consolidated financial statements have been prepared using accounting principles generally accepted in the United States (“U.S. GAAP”) and include the accounts of Trilogy and its wholly-owned subsidiary, NovaCopper US Inc. (“NovaCopper US”). These consolidated financial statements include the accounts of Sunward Resources Ltd. (“Sunward”), Sunward Investments Ltd. (“Sunward Investments”) and Sunward Resources Limited (“Sunward BVI”) for the period June 19, 2015 to September 1, 2016, as applicable. Sunward BVI has registered a branch, Sunward Resources Sucursal Colombia, to do business in Colombia. All significant intercompany transactions are eliminated on consolidation. On June 19, 2015, we completed the acquisition of Sunward, which held 100 All figures are in United States dollars unless otherwise noted. References to CDN$ refer to amounts in Canadian dollars. These financial statements were approved by the Company’s Board of Directors for issue on February 2, 2017. Cash and cash equivalents comprise of highly liquid investments maturing less than 90 days from date of initial investment. Cash and cash equivalents are designated as loans and receivables. Plant and equipment are recorded at cost and amortization begins when the asset is put into service. Amortization is calculated on a straight-line basis over the respective assets’ estimated useful lives. Computer hardware and software 3 Machinery and equipment 3 Office furniture and equipment 5 Vehicles 3 Leasehold Improvements lease term All direct costs related to the acquisition of mineral property interests are capitalized. Mineral property exploration expenditures are expensed when incurred. When it has been established that a mineral deposit is commercially mineable, an economic analysis has been completed in accordance with SEC Industry Guide 7 and permits are obtained, the costs subsequently incurred to develop a mine on the property prior to the start of mining operations are capitalized. Capitalized costs will be amortized following commencement of production using the unit of production method over the estimated life of proven and probable reserves. The acquisition of title to mineral properties is a complicated and uncertain process. The Company has taken steps, in accordance with industry standards, to verify the title to mineral properties in which it has an interest. Although the Company has made efforts to ensure that legal titles to its mining assets are properly recorded, there can be no assurance that such title will be secured indefinitely. Management assesses the possibility of impairment in the carrying value of long-lived assets whenever events or circumstances indicate that the carrying amounts of the asset or asset group may not be recoverable. Management calculates the estimated undiscounted future net cash flows relating to the asset or asset group using estimated future prices, proven and probable reserves and other mineral resources, and operating, capital and reclamation costs. When the carrying value of an asset exceeds the related undiscounted cash flows, the asset is written down to its estimated fair value, which is usually determined using discounted future cash flows. Management’s estimates of mineral prices, mineral resources, foreign exchange rates, production levels and operating capital and reclamation costs are subject to risk and uncertainties that may affect the determination of the recoverability of the long-lived asset. It is possible that material changes could occur that may adversely affect management’s estimates. The liability method of accounting for income taxes is used and is based on differences between the accounting and tax bases of assets and liabilities. Deferred income tax assets and liabilities are recognized for temporary differences between the tax and accounting basis of assets and liabilities as well as for the benefit of losses available to be carried forward to future years for tax purposes using enacted income tax rates expected to be in effect for the period in which the differences are expected to reverse. Deferred income tax assets are evaluated and, if realization is not considered more likely than not, a valuation allowance is provided. The Company recognizes tax benefits from uncertain tax positions only if it is at least more likely than not that the tax position will be sustained on examination by the taxing authorities, based on the technical merits of the position. Any tax benefits recognized in the financial statements from such a position are measured based on the largest benefit that has a greater than 50 Held-for-trading financial assets and liabilities are recorded at fair value as determined by active market prices or valuation models, as appropriate. Valuation models require the use of assumptions which may include the expected life of the instrument, the expected volatility, dividend payouts, and interest rates. In determining these assumptions, management uses readily observable market inputs where available or, where not available, inputs generated by management. Changes in fair value of held-for-trading financial instruments are recorded in income or loss for the period. Held-for-trading financial assets consist of common share and warrant investments in a publicly-held mining company. Available-for-sale financial assets are recorded at fair value as determined by active market prices. Unrealized gains and losses on available-for-sale investments are recognized in other comprehensive income. If a decline in fair value is deemed to be other than temporary, the unrealized loss is recognized in net earnings. Investments in equity instruments that do not have an active quoted market price are measured at cost. The Company has no available-for-sale financial assets. Loans and receivables are recorded initially at fair value, net of transaction costs incurred, and subsequently at amortized cost using the effective interest rate method. Loans and receivables consist of cash and cash equivalents, accounts receivable, and deposits. Other financial liabilities are recorded initially at fair value and subsequently at amortized cost using the effective interest rate method. Other financial liabilities include accounts payable and accrued liabilities. Monetary assets and liabilities are translated into United States dollar at the exchange rate in effect at the balance sheet date, and non-monetary assets and liabilities at the exchange rate in effect at the time of acquisition or issue. Income and expenses are translated at rates approximating the exchange rate in effect at the time of transactions. Exchange gains or losses arising on translation are included in income or loss for the period. The functional currency of the Company and its subsidiaries and the Company’s reporting currency is the United States dollar. Earnings and loss per common share is calculated based on the weighted average number of common shares outstanding during the year. The Company follows the treasury stock method in the calculation of diluted earnings per share. Under the treasury stock method, the weighted average number of common shares outstanding used for the calculation of diluted loss per share assumes that the proceeds to be received on the exercise of dilutive stock options and warrants are used to repurchase common shares at the average market price during the period. Compensation expense for options granted to employees, directors and certain service providers is determined based on estimated fair values of the options at the time of grant using the Black-Scholes option pricing model, which takes into account, as of the grant date, the fair market value of the shares, expected volatility, expected dividend yield and the risk-free interest rate over the expected life of the option. The compensation cost is recognized using the graded attribution method over the vesting period of the respective options. The expense relating to the fair value of stock options is included in expenses and is credited to contributed surplus. Shares are issued from treasury in settlement of options exercised. Compensation expense for restricted share units (“RSUs”) and deferred share units (“DSUs”) granted to employees and directors, respectively, is determined based on estimated fair values of the units at the time of grant using quoted market prices or at the time the units qualify for equity classification under ASC 718. The cost is recognized using the graded attribution method over the vesting period of the respective units. The expense relating to the fair value of the units is included in expenses and is credited to other liabilities or contributed surplus based on the unit’s classification. Units may be settled in either i) cash, and/or ii) shares purchased in the open market, and/or iii) shares issued from treasury, at the Company’s election at the time of vesting. The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions of future events that affect the reported amount of assets and liabilities and disclosure of contingent liabilities at the date of the financial statements, and the reported amounts of expenditures during the period. Significant estimates include the basis of impairment of mineral properties, accounting for business combinations, income taxes, and the valuation of stock-based compensation. Actual results could differ materially from those reported. Development stage entity In June 2014, the FASB issued “Development Stage Entities – Elimination of Certain Financial Reporting Requirements, Including an Amendment to Variable Interest Entities Guidance in Topic 810, Consolidation” (“ASU 2014-10”). ASU 2014-10 eliminates the concept of a development stage entity, of which Trilogy had been classified. Upon adoption, certain financial reporting disclosures have been eliminated including the presentation of an inception-to-date statement of income and cash flow. ASU 2014-10 is effective for fiscal years, and interim periods within those years, beginning after December 15, 2014. The Company adopted this standard as of December 1, 2015. As a result of adopting the standard, the Company no longer includes the cumulative during exploration stage column previously presented on the statement of loss and comprehensive loss and statement of cash flows. i. Extraordinary Items In January 2015, the FASB issued guidance to eliminate the concept of extraordinary items (“ASU 2015-01”). This will mean the Company will not present any items as extraordinary items in the future. This update is effective for annual reporting periods beginning after December 15, 2015, and interim periods within those annual periods. We have assessed that there is no impact and the Company will adopt the standard beginning December 1, 2016. ii. Leases In February 2016, the FASB issued new accounting requirements for accounting for, presentation of, and classification of leases (“ASU 2016-02”). This will result in most leases being capitalized as a right of use asset with a related liability on our balance sheets. The requirements of the new standard are effective for annual reporting periods beginning after December 15, 2018, and interim periods within those annual periods, which for us is the first quarter of fiscal year 2020. We expect the adoption will have an impact as we expect to capitalize leases that are not currently recognized on the balance sheet and are in the process of analyzing the quantitative impact of this guidance on our results of operations and financial position. iii. Stock-based compensation In March 2016, the FASB issued new guidance simplifying the accounting for stock-based compensation transactions, including income tax consequences, classification of awards as equity or liabilities, forfeitures, and classification on the statement of cash flows (“ASU 2016-09”). This update is effective for annual reporting periods beginning after December 15, 2016, and early adoption is permitted. We are in the process of analyzing the impact of this guidance on our results of operations, financial position, and disclosures.

Sale of Sunward Investments Ltd

Sale of Sunward Investments Ltd	12 Months Ended
	Nov. 30, 2016
Disposition of Sunward Investments Ltd. [Text Block]	3 Sale of Sunward Investments Ltd On September 1, 2016, Trilogy completed the sale of Sunward Investments to Brazil Resources Inc. (“BRI”), a public company listed on the TSX-Venture exchange, of all of the issued and outstanding shares of Sunward Investments for consideration of 5,000,000 7.8 1,000,000 3.50 0.3 8.1 100 4.4 in thousands of dollars $ Consideration received 8,102 Cash reimbursement from BRI 51 Net assets sold (3,545) Transaction costs (160) Gain on sale of Sunward Investments 4,448 The fair value of the common shares received was determined based on the closing price of BRI of $ 1.56 2.04 Risk-free interest rates 0.59 % Exercise price CDN$3.50 Expected life 2 years Expected forfeiture rate 0 % Expected volatility 66.9 % Expected dividends Nil The common shares and warrants received have been designated as held-for-trading financial assets. Following the announcement, the Company classified the operations of Sunward Investments as discontinued operations, retrospectively. in thousands of dollars December 1, 2015 - June 19, 2015 – Amortization 95 63 Foreign exchange loss 4 23 General and administrative 5 3 Mineral properties expense 460 309 Professional fees 34 - Discontinued operations expense for the year 598 398 Gain on sale of Sunward Investments Ltd. (4,448) - (Income)/loss from discontinued operations for the year (3,850) 398

Acquisition of Sunward Resource

Acquisition of Sunward Resources Ltd.	12 Months Ended
	Nov. 30, 2016
Acquisition of Sunward Resources Ltd [Abstract]
Mergers, Acquisitions and Dispositions Disclosures [Text Block]	Acquisition of Sunward Resources Ltd. On June 19, 2015, the Company closed a definitive agreement to acquire all of the issued and outstanding common shares of Sunward, by way of a court-approved plan of arrangement (the “Sunward Arrangement”). Under the terms of the Sunward Arrangement, Sunward shareholders received 0.3 of a Trilogy common share for each Sunward common share held. On June 19, 2015, the Company issued 43,116,312 common shares of Trilogy (“Common Shares”) to Sunward shareholders and holders of Sunward deferred share units pursuant to the Sunward Arrangement. Each Sunward stock option outstanding was exchanged for a fully-vested option (“Sunward Arrangement Option”) to purchase Trilogy Common Shares for a period of 90 days, with the number of shares issuable and exercise price adjusted based on an exchange ratio of 0.3 8,350,000 2,505,000 43,116,312 22.9 2,505,000 0.1 0.53 Assumptions used in the pricing model in the measurement of the fair value of the Sunward Arrangement Options are as follows: Risk-free interest rates 0.62 % Exercise price CDN$0.54-6.27 Expected life 0.245 years Expected forfeiture rate 0 % Expected volatility 50.2 % Expected dividends Nil This acquisition has been accounted for as a business combination under ASC 805. The Company incurred $ 0.8 The following summarizes the consideration and the fair value of assets acquired and liabilities assumed as of the date of acquisition: in thousands of dollars Consideration: $ Common shares issued (43,116,312 at $0.53 per share) 22,851 Sunward Arrangement Options 108 Total consideration 22,959 Fair value of net assets acquired: Cash 19,399 Accounts receivable 19 Deposits and prepaid amounts 104 Plant and equipment 343 Mineral properties and developments costs 3,264 Accounts payable and accrued liabilities (170) Net Assets 22,959 The consolidated financial statements included herein reflect the results of operations of Sunward since the June 19, 2015 acquisition date. Following the announcement of the sale of Sunward Investments outlined in Note 3, the operations have been classified as discontinued operations.

Plant and equipment

Plant and equipment	12 Months Ended
	Nov. 30, 2016
Plant and equipment [Text Block]	Plant and equipment November 30, 2016 Cost Accumulated Net British Columbia, Canada Furniture and equipment 46 (33) 13 Leasehold improvements 32 (28) 4 Computer hardware and software 108 (96) 12 Alaska, USA Machinery, and equipment 2,921 (2,798) 123 Vehicles 348 (285) 63 Computer hardware and software 31 (31) - 3,486 (3,271) 215 November 30, 2015 Cost Accumulated Net $ British Columbia, Canada Furniture and equipment 46 (24) 22 Leasehold improvements 32 (20) 12 Computer hardware and software 103 (77) 26 Alaska, USA Machinery, and equipment 2,877 (2,777) 100 Vehicles 275 (262) 13 Computer hardware and software 31 (31) - 3,364 (3,191) 173

Mineral properties and developm

Mineral properties and development costs	12 Months Ended
	Nov. 30, 2016
Mineral properties and development costs [Text Block]	6 Mineral properties and development costs November 30, 2015 Acquisition costs November 30, 2016 Alaska, USA Ambler (a) 26,586 - 26,586 Bornite (b) 4,000 - 4,000 30,586 - 30,586 November 30, 2014 Acquisition costs November 30, 2015 Alaska, USA Ambler (a) 26,586 - 26,586 Bornite (b) 4,000 - 4,000 30,586 30,586 (a) Ambler On January 11, 2010, NovaGold Resources Inc. (“NovaGold”), through Alaska Gold Company (“AGC”), at the time a wholly-owned subsidiary, purchased 100 26.6 1 10.0 The Ambler lands were acquired on October 17, 2011 by NovaCopper US through a purchase and sale agreement with AGC. On October 24, 2011, NovaGold transferred its ownership of NovaCopper US to the Company, then a wholly owned subsidiary of NovaGold, which was subsequently spun-out to NovaGold shareholders and publicly listed on April 30, 2012 (“NovaGold Arrangement”). (b) Bornite On October 19, 2011, NovaCopper US acquired the exclusive right to explore and the non-exclusive right to access and enter on the Bornite lands, and lands deeded to NANA Regional Corporation, Inc. (“NANA”) through the Alaska Native Claims Settlement Act, located adjacent to the Ambler lands in Northwest Alaska. As consideration, NovaCopper US paid $ 4 16 25 15 40 NANA would also be granted a net smelter return royalty of between 1 2.5 (c) Mineral properties expense The following table summarizes mineral properties expense for the years ended November 30, 2016, 2015 and 2014. 2016 2015 2014 $ $ $ Alaska, USA Community 299 126 137 Drilling 712 698 - Engineering 699 441 117 Environmental 314 88 36 Geochemistry and geophysics 82 70 238 Land and permitting 426 421 378 Other income (34) (209) (9) Project support 1,254 1,411 438 Wages and benefits 1,285 1,122 1,177 Mineral property expense 5,037 4,167 2,512 Mineral property expenses consist of direct drilling, personnel, community, resource reporting and other exploration expenses as outlined above, as well as indirect project support expenses such as fixed wing charters, helicopter support, fuel, and other camp operation costs. Cumulative mineral properties expense in Alaska from the initial earn-in agreement on the property in 2004 to November 30, 2016 is $ 63.0 30.6 93.6

Accounts payable and accrued li

Accounts payable and accrued liabilities	12 Months Ended
	Nov. 30, 2016
Accounts payable and accrued liabilities [Text Block]	7 Accounts payable and accrued liabilities November 30, 2016 November 30, 2015 Trade accounts payable 160 161 Accrued liabilities 281 442 Accrued salaries and vacation 152 109 Accounts payable and accrued liabilities 593 712

Share capital

Share capital	12 Months Ended
	Nov. 30, 2016
Share capital [Text Block]	8 Share capital Authorized: unlimited common shares, no par value Number of shares Ascribed value November 30, 2013 53,066,656 104,895 Exercise of NovaGold Arrangement Options 46,929 631 NovaGold Performance Share Units 14,166 28 Private placement 6,521,740 5,068 Restricted Share Units 492,501 929 Deferred Share Units 154,373 282 November 30, 2014 60,296,365 111,833 Issued pursuant to the Sunward Arrangement 43,116,312 22,851 Exercise of options 7,499 7 Exercise of Sunward Arrangement Options 347,999 177 Restricted Share Units 795,368 819 Deferred Share Units 232,878 353 November 30, 2015 104,796,421 136,040 Exercise of options 162,854 65 Restricted Share Units 108,399 34 Deferred Share Units 218,795 218 November 30, 2016, issued and outstanding 105,286,469 136,357 On April 30, 2012, under the NovaGold Arrangement, Trilogy committed to issue up to 6,181,352 20,685 3,447 312,195 Refer to note 4 for a description of Common Shares issued pursuant to the Sunward Arrangement. All Sunward Arrangement Options have been exercised or expired. (a) Stock options The Company has a stock option plan providing for the issuance of options with a rolling maximum number equal to 10 During the year ended November 30, 2016, 1,785,000 3,813,350 0.43 0.55 0.13 0.17 The fair value of the stock options recognized in the period has been estimated using the Black-Scholes option pricing model. Assumptions used in the pricing model for the period are as provided below. November 30, 2016 November 30, 2015 November 30, 2014 Risk-free interest rates 0.52 % 0.42-1.12 % 1.16 % Exercise price CDN$0.43 CDN$0.55 CDN$1.22 Expected life 3.0 years 3.0 years 3.0 years Expected volatility 59.4 % 56.8-59.5 % 60.2 % Expected dividends Nil Nil Nil The Company recognized a stock option payments charge of $ 0.4 0.7 0.5 As of November 30, 2016, there were 1,401,675 0.37 0.05 A summary of the Company’s stock option plan and changes during the year ended is as follows: November 30, 2016 Number of options Weighted average exercise Balance – beginning of year 5,288,350 0.57 Granted 1,785,000 0.33 Exercised (422,199) 0.38 Forfeited (601,718) 0.58 Balance – end of year 6,049,433 0.50 The following table summarizes information about the stock options outstanding at November 30, 2016. Outstanding Exercisable Unvested Range of price Number of Weighted Weighted Number of Weighted Number of $0.33 to $0.99 5,994,433 3.51 0.50 4,592,758 0.53 1,401,675 $1.00 to $1.47 55,000 1.42 1.47 55,000 1.47 - 6,049,433 3.49 0.50 4,647,758 0.55 1,401,675 The aggregate intrinsic value of vested share options (the market value less the exercise price) at November 30, 2016 was $ 0.6 0.1 (b) NovaGold Arrangement Options Under the NovaGold Arrangement, holders of NovaGold stock options received one option in Trilogy for every six options held in NovaGold (“NovaGold Arrangement Options”). All NovaGold Arrangement Options are vested and subject to NovaGold’s stock option plan. The options were fully expensed during the year ended November 30, 2014 and no further expense is recognized. A summary of the NovaGold Arrangement Options and changes during the year ended is as follows: November 30, 2015 Number of options Weighted average exercise Balance – beginning of year 509,272 4.77 Forfeited (27,199) 4.68 Expired (169,878) 5.61 Balance – end of year 312,195 4.28 The following table summarizes information about the NovaGold Arrangement Options outstanding at November 30, 2016. Outstanding and exercisable Range of price Number of outstanding Weighted average years Weighted average $2.75 to $3.99 49,998 0.33 2.91 $4.00 to $5.99 245,531 0.02 4.41 $6.00 to $6.48 16,666 0.50 6.45 312,195 0.09 4.28 The aggregate intrinsic value of vested NovaGold Arrangement Options (the market value less the exercise price) at November 30, 2016 was $nil (2015 - $nil, 2014 – $nil). (c) Sunward Arrangement Options Under the Sunward Arrangement, each Sunward stock option outstanding was exchanged for a fully-vested Sunward Arrangement Option to purchase Trilogy Common Shares for a period of 90 days, such number and exercise price adjusted based on an exchange ratio of 0.3 2,505,000 During the year ended November 30, 2015, 347,999 188,000 142,000 2,157,001 0.01 (d) Restricted Share Units and Deferred Share Units The Company has a Restricted Share Unit Plan (“RSU Plan”) and a Non-Executive Director Deferred Share Unit Plan (“DSU Plan”) to provide long-term incentives to employees, officers and directors. The RSU Plan and DSU Plan may be settled in cash and/or Common Shares at the Company’s election with each RSU and DSU entitling the holder to receive one common share of the Company or equivalent value. All units are accounted for as equity-settled awards. On June 15, 2016, 75,000 164,582 On December 23, 2015, 600,000 A summary of the Company’s unit plans and changes during the year ended is as follows: Number of RSUs Number of DSUs Balance – beginning of year - 904,603 Granted 600,000 239,582 Vested/paid (199,999) (218,795) Balance – end of year 400,001 925,390 For the year ended November 30, 2016, Trilogy recognized a stock-based compensation charge of $ 0.3 0.1 0.4 (e) Share Purchase Warrants A summary of the Company’s warrants and changes during the year ended November 30, 2016 is as follows: Number of Warrants Weighted average Weighted average Balance – beginning of year 6,521,740 2.60 1.60 Balance – end of year 6,521,740 2.60 1.60

Management of capital risk

Management of capital risk	12 Months Ended
	Nov. 30, 2016
Management of capital risk [Text Block]	Management of capital risk The Company relies upon management to manage capital in order to accomplish the objectives of safeguarding the Company’s ability to continue as a going concern in order to pursue the development of its mineral properties and maintain a capital structure which optimizes the costs of capital at an acceptable risk. The Company’s current capital consists of equity funding through capital markets, cash acquired from the Sunward Arrangement, and the sale of marketable securities. As the Company is currently in the exploration phase none of its financial instruments are exposed to commodity price risk; however, the Company’s ability to obtain long-term financing and its economic viability may be affected by commodity price volatility. To facilitate the management of its capital requirements, the Company prepares annual expenditure budgets that are updated as necessary depending on various factors, including successful capital deployment and general industry conditions.

Financial instruments

Financial instruments	12 Months Ended
	Nov. 30, 2016
Financial instruments [Text Block]	10 Financial instruments The Company is exposed to a variety of risks arising from financial instruments. These risks and management’s objectives, policies and procedures for managing these risks are disclosed as follows. The Company’s financial instruments consist of cash and cash equivalents, accounts receivable, deposits, investments, and accounts payable and accrued liabilities. The fair value of the Company’s financial instruments approximates 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, accounts receivable, deposits, and accounts payable and accrued liabilities. The Company’s investments are held for trading and are marked-to-market at each period end with changes in fair value recorded to the statement of loss. Financial risk management The Company’s activities expose them to certain financial risks, including currency risk, credit risk, liquidity risk, interest risk and price risk. (e) Currency risk Currency risk is the risk of a fluctuation in financial asset and liability settlement amounts due to a change in foreign exchange rates. The Company operates in the United States, Canada, and previously operated in Colombia with some expenses incurred in Canadian dollars and Colombian pesos. The Company’s exposure to currency risk at November 30, 2016 is limited to the Canadian dollar (“CDN”) consisting of cash of CDN$ 451,000 32,000 146,000 10,521,000 528,000 1 79,000 (f) Credit risk Credit risk is the risk of an unexpected loss if a customer or third party to a financial instrument fails to meet its contractual obligations. The Company holds cash and cash equivalents with Canadian Chartered financial institutions. The Company’s accounts receivable consist of GST receivable from the Federal Government of Canada and other receivables for recoverable expenses. The Company’s exposure to credit risk is equal to the balance of cash and cash equivalents and accounts receivable as recorded in the financial statements. (g) Liquidity risk Liquidity risk is the risk that the Company will encounter difficulties raising funds to meet its financial obligations as they fall due. The Company is in the exploration stage and does not have cash inflows from operations; therefore, the Company manages liquidity risk through the management of its capital structure and financial leverage. in thousands of dollars Total <1 Year 1–2 Years 2–5 Years Thereafter Accounts payable and accrued liabilities 593 593 - - - Office lease (note 12) 75 75 - - - 668 668 - - - (h) Interest rate risk Interest rate risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in market interest rates. The Company is exposed to interest rate risk with respect to interest earned on cash and cash equivalents. Based on balances as at November 30, 2016, a 1% change in interest rates would result in a change in net loss of $ 0.1 As we are currently in the exploration phase none of our financial instruments are exposed to commodity price risk; however, our ability to obtain long-term financing and its economic viability could be affected by commodity price volatility. 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 — 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 active, or inputs that are observable, either directly or indirectly, for substantially the full term of the asset or liability; and 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 market activity) in thousands of dollars November 30, 2016 November 30, 2015 Level 1 Level 2 Level 3 Level 1 Level 2 Level 3 Current investments – shares 7,538 - - - - - Investments – warrants - - 297 - - - The Company’s investments consist of shares and warrants in a publicly-held mining company. The share investments are recorded as current investments and are valued using quoted market prices in active markets and as such are classified as a Level 1 financial instrument. The warrants are valued using a Black-Scholes pricing model and are considered a Level 3 financial instrument because the valuation models have significant unobservable inputs.

Income taxes

Income taxes	12 Months Ended
	Nov. 30, 2016
Income taxes [Text Block]	11 Income taxes in thousands of dollars November 30, 2016 November 30, 2015 November 30, 2014 Combined federal and provincial statutory tax rate 26.00 % 26.00 % 26.00 % Income taxes at statutory rate (1,264) (2,479) (2,508) Difference in foreign tax rates (750) (680) (580) Effect of foreign exchange changes (339) 2,264 - Non-taxable gain on the sale of Sunward Investments (545) - - Non-deductible expenditures 175 239 243 Return to provision adjustments (510) (102) (224) Other (68) - - Disposition of Sunward Investments 7,051 - - Valuation allowance (3,750) 758 3,069 Income tax expense - - - Deferred income taxes arise from temporary differences in the recognition of income and expenses for financial reporting and tax purposes. in thousands of dollars November 30, 2016 November 30, 2015 Deferred income tax assets Non-capital losses 58,204 63,397 Mineral property interest 14,491 14,116 Deferred interest 9,040 9,040 Property, plant and equipment 47 61 Share issuance costs 126 198 Other deductible temporary differences 450 575 Total deferred tax assets 82,358 87,387 Valuation allowance (82,344) (86,094) Net deferred income tax assets 14 1,293 Deferred income tax liabilities Mineral property interest - (1,109) Other taxable temporary differences (14) (184) Deferred income tax liabilities (14) (1,293) Net deferred income tax assets - - The Company has loss carry-forwards of approximately $ 153.1 in thousands of dollars Non-capital losses Operating losses 2017 - - 2018 - 4,206 2019 - 975 2020 - 830 Thereafter 31,262 115,797 31,262 121,808 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 39.4 An additional change in control may have occurred after November 30, 2011 which may further limit the availability of losses prior to the date of change in control. On June 19, 2015, we completed the Sunward acquisition which resulted in an acquisition of control of Sunward Resources ULC under of the Income Tax Act in Canada. Therefore, the Company’s ability to use approximately $ 15.2

Commitment

Commitment	12 Months Ended
	Nov. 30, 2016
Commitment [Text Block]	12 Commitment in thousands of dollars November 30, 2016 2017 75 Total 75

Subsequent events

Subsequent events	12 Months Ended
	Nov. 30, 2016
Subsequent Events [Abstract]
Subsequent Events [Text Block]	13 Subsequent events On January 30, 2017, the Company entered into a commitment to lease office space for a period of seven years with a total commitment of $ 1.3 On December 15, 2016, 525,000 1,070,000 600,000 104,599 0.06 On December 23, 2016, 200,000 104,599 0.06

Summary of Significant Accoun20

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Nov. 30, 2016
Basis of presentation [Policy Text Block]	These consolidated financial statements have been prepared using accounting principles generally accepted in the United States (“U.S. GAAP”) and include the accounts of Trilogy and its wholly-owned subsidiary, NovaCopper US Inc. (“NovaCopper US”). These consolidated financial statements include the accounts of Sunward Resources Ltd. (“Sunward”), Sunward Investments Ltd. (“Sunward Investments”) and Sunward Resources Limited (“Sunward BVI”) for the period June 19, 2015 to September 1, 2016, as applicable. Sunward BVI has registered a branch, Sunward Resources Sucursal Colombia, to do business in Colombia. All significant intercompany transactions are eliminated on consolidation. On June 19, 2015, we completed the acquisition of Sunward, which held 100 All figures are in United States dollars unless otherwise noted. References to CDN$ refer to amounts in Canadian dollars. These financial statements were approved by the Company’s Board of Directors for issue on February 2, 2017.
Cash and cash equivalents [Policy Text Block]	Cash and cash equivalents Cash and cash equivalents comprise of highly liquid investments maturing less than 90 days from date of initial investment. Cash and cash equivalents are designated as loans and receivables.
Plant and equipment [Policy Text Block]	Plant and equipment Plant and equipment are recorded at cost and amortization begins when the asset is put into service. Amortization is calculated on a straight-line basis over the respective assets’ estimated useful lives. Computer hardware and software 3 Machinery and equipment 3 Office furniture and equipment 5 Vehicles 3 Leasehold Improvements lease term
Mineral properties and development costs [Policy Text Block]	Mineral properties and development costs All direct costs related to the acquisition of mineral property interests are capitalized. Mineral property exploration expenditures are expensed when incurred. When it has been established that a mineral deposit is commercially mineable, an economic analysis has been completed in accordance with SEC Industry Guide 7 and permits are obtained, the costs subsequently incurred to develop a mine on the property prior to the start of mining operations are capitalized. Capitalized costs will be amortized following commencement of production using the unit of production method over the estimated life of proven and probable reserves. The acquisition of title to mineral properties is a complicated and uncertain process. The Company has taken steps, in accordance with industry standards, to verify the title to mineral properties in which it has an interest. Although the Company has made efforts to ensure that legal titles to its mining assets are properly recorded, there can be no assurance that such title will be secured indefinitely.
Impairment of long-lived assets [Policy Text Block]	Impairment of long-lived assets Management assesses the possibility of impairment in the carrying value of long-lived assets whenever events or circumstances indicate that the carrying amounts of the asset or asset group may not be recoverable. Management calculates the estimated undiscounted future net cash flows relating to the asset or asset group using estimated future prices, proven and probable reserves and other mineral resources, and operating, capital and reclamation costs. When the carrying value of an asset exceeds the related undiscounted cash flows, the asset is written down to its estimated fair value, which is usually determined using discounted future cash flows. Management’s estimates of mineral prices, mineral resources, foreign exchange rates, production levels and operating capital and reclamation costs are subject to risk and uncertainties that may affect the determination of the recoverability of the long-lived asset. It is possible that material changes could occur that may adversely affect management’s estimates.
Income taxes [Policy Text Block]	Income taxes The liability method of accounting for income taxes is used and is based on differences between the accounting and tax bases of assets and liabilities. Deferred income tax assets and liabilities are recognized for temporary differences between the tax and accounting basis of assets and liabilities as well as for the benefit of losses available to be carried forward to future years for tax purposes using enacted income tax rates expected to be in effect for the period in which the differences are expected to reverse. Deferred income tax assets are evaluated and, if realization is not considered more likely than not, a valuation allowance is provided.
Uncertainty in income tax positions [Policy Text Block]	Uncertainty in income tax positions The Company recognizes tax benefits from uncertain tax positions only if it is at least more likely than not that the tax position will be sustained on examination by the taxing authorities, based on the technical merits of the position. Any tax benefits recognized in the financial statements from such a position are measured based on the largest benefit that has a greater than 50
Financial instruments [Policy Text Block]	Financial instruments Held-for-trading financial assets and liabilities are recorded at fair value as determined by active market prices or valuation models, as appropriate. Valuation models require the use of assumptions which may include the expected life of the instrument, the expected volatility, dividend payouts, and interest rates. In determining these assumptions, management uses readily observable market inputs where available or, where not available, inputs generated by management. Changes in fair value of held-for-trading financial instruments are recorded in income or loss for the period. Held-for-trading financial assets consist of common share and warrant investments in a publicly-held mining company. Available-for-sale financial assets are recorded at fair value as determined by active market prices. Unrealized gains and losses on available-for-sale investments are recognized in other comprehensive income. If a decline in fair value is deemed to be other than temporary, the unrealized loss is recognized in net earnings. Investments in equity instruments that do not have an active quoted market price are measured at cost. The Company has no available-for-sale financial assets. Loans and receivables are recorded initially at fair value, net of transaction costs incurred, and subsequently at amortized cost using the effective interest rate method. Loans and receivables consist of cash and cash equivalents, accounts receivable, and deposits. Other financial liabilities are recorded initially at fair value and subsequently at amortized cost using the effective interest rate method. Other financial liabilities include accounts payable and accrued liabilities.
Translation of foreign currencies [Policy Text Block]	Translation of foreign currencies Monetary assets and liabilities are translated into United States dollar at the exchange rate in effect at the balance sheet date, and non-monetary assets and liabilities at the exchange rate in effect at the time of acquisition or issue. Income and expenses are translated at rates approximating the exchange rate in effect at the time of transactions. Exchange gains or losses arising on translation are included in income or loss for the period. The functional currency of the Company and its subsidiaries and the Company’s reporting currency is the United States dollar.
Loss per share [Policy Text Block]	Earnings and loss per share Earnings and loss per common share is calculated based on the weighted average number of common shares outstanding during the year. The Company follows the treasury stock method in the calculation of diluted earnings per share. Under the treasury stock method, the weighted average number of common shares outstanding used for the calculation of diluted loss per share assumes that the proceeds to be received on the exercise of dilutive stock options and warrants are used to repurchase common shares at the average market price during the period.
Stock-based compensation [Policy Text Block]	Stock-based compensation Compensation expense for options granted to employees, directors and certain service providers is determined based on estimated fair values of the options at the time of grant using the Black-Scholes option pricing model, which takes into account, as of the grant date, the fair market value of the shares, expected volatility, expected dividend yield and the risk-free interest rate over the expected life of the option. The compensation cost is recognized using the graded attribution method over the vesting period of the respective options. The expense relating to the fair value of stock options is included in expenses and is credited to contributed surplus. Shares are issued from treasury in settlement of options exercised. Compensation expense for restricted share units (“RSUs”) and deferred share units (“DSUs”) granted to employees and directors, respectively, is determined based on estimated fair values of the units at the time of grant using quoted market prices or at the time the units qualify for equity classification under ASC 718. The cost is recognized using the graded attribution method over the vesting period of the respective units. The expense relating to the fair value of the units is included in expenses and is credited to other liabilities or contributed surplus based on the unit’s classification. Units may be settled in either i) cash, and/or ii) shares purchased in the open market, and/or iii) shares issued from treasury, at the Company’s election at the time of vesting.
Use of estimates and measurement uncertainties [Policy Text Block]	Use of estimates and measurement uncertainties The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions of future events that affect the reported amount of assets and liabilities and disclosure of contingent liabilities at the date of the financial statements, and the reported amounts of expenditures during the period. Significant estimates include the basis of impairment of mineral properties, accounting for business combinations, income taxes, and the valuation of stock-based compensation. Actual results could differ materially from those reported.
Accounting standards adopted [Policy Text Block]	Accounting standards adopted Development stage entity In June 2014, the FASB issued “Development Stage Entities – Elimination of Certain Financial Reporting Requirements, Including an Amendment to Variable Interest Entities Guidance in Topic 810, Consolidation” (“ASU 2014-10”). ASU 2014-10 eliminates the concept of a development stage entity, of which Trilogy had been classified. Upon adoption, certain financial reporting disclosures have been eliminated including the presentation of an inception-to-date statement of income and cash flow. ASU 2014-10 is effective for fiscal years, and interim periods within those years, beginning after December 15, 2014. The Company adopted this standard as of December 1, 2015. As a result of adopting the standard, the Company no longer includes the cumulative during exploration stage column previously presented on the statement of loss and comprehensive loss and statement of cash flows.
Recent accounting pronouncements [Policy Text Block]	Recent accounting pronouncements i. Extraordinary Items In January 2015, the FASB issued guidance to eliminate the concept of extraordinary items (“ASU 2015-01”). This will mean the Company will not present any items as extraordinary items in the future. This update is effective for annual reporting periods beginning after December 15, 2015, and interim periods within those annual periods. We have assessed that there is no impact and the Company will adopt the standard beginning December 1, 2016. ii. Leases In February 2016, the FASB issued new accounting requirements for accounting for, presentation of, and classification of leases (“ASU 2016-02”). This will result in most leases being capitalized as a right of use asset with a related liability on our balance sheets. The requirements of the new standard are effective for annual reporting periods beginning after December 15, 2018, and interim periods within those annual periods, which for us is the first quarter of fiscal year 2020. We expect the adoption will have an impact as we expect to capitalize leases that are not currently recognized on the balance sheet and are in the process of analyzing the quantitative impact of this guidance on our results of operations and financial position. iii. Stock-based compensation In March 2016, the FASB issued new guidance simplifying the accounting for stock-based compensation transactions, including income tax consequences, classification of awards as equity or liabilities, forfeitures, and classification on the statement of cash flows (“ASU 2016-09”). This update is effective for annual reporting periods beginning after December 15, 2016, and early adoption is permitted. We are in the process of analyzing the impact of this guidance on our results of operations, financial position, and disclosures.

Summary of significant accoun21

Summary of significant accounting policies (Tables)	12 Months Ended
	Nov. 30, 2016
Schedule of Plant and Equipment Estimated Useful Lives [Table Text Block]	Amortization periods by asset class are: Computer hardware and software 3 Machinery and equipment 3 Office furniture and equipment 5 Vehicles 3 Leasehold Improvements lease term

Sale of Sunward Investments L22

Sale of Sunward Investments Ltd (Tables)	12 Months Ended
	Nov. 30, 2016
Gain On Sale of Business [Table Text Block]	The Company recognized a gain on the sale of Sunward Investments of $ 4.4 in thousands of dollars $ Consideration received 8,102 Cash reimbursement from BRI 51 Net assets sold (3,545) Transaction costs (160) Gain on sale of Sunward Investments 4,448
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Table Text Block]	The fair value of the BRI warrants was determined using the Black-Scholes option pricing model. Assumptions used in the pricing model in the measurement of the fair value of the warrants are as follows: Risk-free interest rates 0.59 % Exercise price CDN$3.50 Expected life 2 years Expected forfeiture rate 0 % Expected volatility 66.9 % Expected dividends Nil
Schedule of Expenses Comprise the Discontinued Operations [Table Text Block]	The following expenses comprise the discontinued operations of Sunward Investments and substantially the entire Colombian segment of the Company for the periods of ownership noted. in thousands of dollars December 1, 2015 - June 19, 2015 – Amortization 95 63 Foreign exchange loss 4 23 General and administrative 5 3 Mineral properties expense 460 309 Professional fees 34 - Discontinued operations expense for the year 598 398 Gain on sale of Sunward Investments Ltd. (4,448) - (Income)/loss from discontinued operations for the year (3,850) 398

Acquisition of Sunward Resour23

Acquisition of Sunward Resources Ltd. (Tables)	12 Months Ended
	Nov. 30, 2016
Schedule Of Acquisition Valuation Assumptions TextBlock [Table Text Block]	Risk-free interest rates 0.62 % Exercise price CDN$0.54-6.27 Expected life 0.245 years Expected forfeiture rate 0 % Expected volatility 50.2 % Expected dividends Nil
Schedule of Business Acquisitions, by Acquisition [Table Text Block]	Consideration: $ Common shares issued (43,116,312 at $0.53 per share) 22,851 Sunward Arrangement Options 108 Total consideration 22,959 Fair value of net assets acquired: Cash 19,399 Accounts receivable 19 Deposits and prepaid amounts 104 Plant and equipment 343 Mineral properties and developments costs 3,264 Accounts payable and accrued liabilities (170) Net Assets 22,959

Plant and equipment (Tables)

Plant and equipment (Tables)	12 Months Ended
	Nov. 30, 2016
Schedule of Plant and Equipment [Table Text Block]	November 30, 2016 Cost Accumulated Net British Columbia, Canada Furniture and equipment 46 (33) 13 Leasehold improvements 32 (28) 4 Computer hardware and software 108 (96) 12 Alaska, USA Machinery, and equipment 2,921 (2,798) 123 Vehicles 348 (285) 63 Computer hardware and software 31 (31) - 3,486 (3,271) 215 November 30, 2015 Cost Accumulated Net $ British Columbia, Canada Furniture and equipment 46 (24) 22 Leasehold improvements 32 (20) 12 Computer hardware and software 103 (77) 26 Alaska, USA Machinery, and equipment 2,877 (2,777) 100 Vehicles 275 (262) 13 Computer hardware and software 31 (31) - 3,364 (3,191) 173

Mineral properties and develo25

Mineral properties and development costs (Tables)	12 Months Ended
	Nov. 30, 2016
Schedule of Mineral Properties and Development Costs [Table Text Block]	November 30, 2015 Acquisition costs November 30, 2016 Alaska, USA Ambler (a) 26,586 - 26,586 Bornite (b) 4,000 - 4,000 30,586 - 30,586 November 30, 2014 Acquisition costs November 30, 2015 Alaska, USA Ambler (a) 26,586 - 26,586 Bornite (b) 4,000 - 4,000 30,586 30,586 (a) Ambler On January 11, 2010, NovaGold Resources Inc. (“NovaGold”), through Alaska Gold Company (“AGC”), at the time a wholly-owned subsidiary, purchased 100 26.6 1 10.0 The Ambler lands were acquired on October 17, 2011 by NovaCopper US through a purchase and sale agreement with AGC. On October 24, 2011, NovaGold transferred its ownership of NovaCopper US to the Company, then a wholly owned subsidiary of NovaGold, which was subsequently spun-out to NovaGold shareholders and publicly listed on April 30, 2012 (“NovaGold Arrangement”). (b) Bornite On October 19, 2011, NovaCopper US acquired the exclusive right to explore and the non-exclusive right to access and enter on the Bornite lands, and lands deeded to NANA Regional Corporation, Inc. (“NANA”) through the Alaska Native Claims Settlement Act, located adjacent to the Ambler lands in Northwest Alaska. As consideration, NovaCopper US paid $ 4 16 25 15 40 NANA would also be granted a net smelter return royalty of between 1 2.5
Schedule of Mineral Property Expenses [Table Text Block]	In thousands of dollars 2016 2015 2014 $ $ $ Alaska, USA Community 299 126 137 Drilling 712 698 - Engineering 699 441 117 Environmental 314 88 36 Geochemistry and geophysics 82 70 238 Land and permitting 426 421 378 Other income (34) (209) (9) Project support 1,254 1,411 438 Wages and benefits 1,285 1,122 1,177 Mineral property expense 5,037 4,167 2,512

Accounts payable and accrued 26

Accounts payable and accrued liabilities (Tables)	12 Months Ended
	Nov. 30, 2016
Schedule of Accounts Payable and Accrued Liabilities [Table Text Block]	in thousands of dollars November 30, 2016 November 30, 2015 Trade accounts payable 160 161 Accrued liabilities 281 442 Accrued salaries and vacation 152 109 Accounts payable and accrued liabilities 593 712

Share capital (Tables)

Share capital (Tables)	12 Months Ended
	Nov. 30, 2016
Schedule of Common Shares Issued and Outstanding [Table Text Block]	in thousands of dollars, except share amounts Number of shares Ascribed value November 30, 2013 53,066,656 104,895 Exercise of NovaGold Arrangement Options 46,929 631 NovaGold Performance Share Units 14,166 28 Private placement 6,521,740 5,068 Restricted Share Units 492,501 929 Deferred Share Units 154,373 282 November 30, 2014 60,296,365 111,833 Issued pursuant to the Sunward Arrangement 43,116,312 22,851 Exercise of options 7,499 7 Exercise of Sunward Arrangement Options 347,999 177 Restricted Share Units 795,368 819 Deferred Share Units 232,878 353 November 30, 2015 104,796,421 136,040 Exercise of options 162,854 65 Restricted Share Units 108,399 34 Deferred Share Units 218,795 218 November 30, 2016, issued and outstanding 105,286,469 136,357
Schedule of Stock Options, Valuation Assumptions [Table Text Block]	November 30, 2016 November 30, 2015 November 30, 2014 Risk-free interest rates 0.52 % 0.42-1.12 % 1.16 % Exercise price CDN$0.43 CDN$0.55 CDN$1.22 Expected life 3.0 years 3.0 years 3.0 years Expected volatility 59.4 % 56.8-59.5 % 60.2 % Expected dividends Nil Nil Nil
Schedule of Stock Options Activity [Table Text Block]	November 30, 2016 Number of options Weighted average exercise Balance – beginning of year 5,288,350 0.57 Granted 1,785,000 0.33 Exercised (422,199) 0.38 Forfeited (601,718) 0.58 Balance – end of year 6,049,433 0.50
Schedule of Disclosure of Stock Options Outstanding [Table Text Block]	Outstanding Exercisable Unvested Range of price Number of Weighted Weighted Number of Weighted Number of $0.33 to $0.99 5,994,433 3.51 0.50 4,592,758 0.53 1,401,675 $1.00 to $1.47 55,000 1.42 1.47 55,000 1.47 - 6,049,433 3.49 0.50 4,647,758 0.55 1,401,675
Schedule of NovaGold Arrangement Options Activity [Table Text Block]	November 30, 2015 Number of options Weighted average exercise Balance – beginning of year 509,272 4.77 Forfeited (27,199) 4.68 Expired (169,878) 5.61 Balance – end of year 312,195 4.28
Schedule of NovaGold Arrangement Stock Options Outstanding [Table Text Block]	Outstanding and exercisable Range of price Number of outstanding Weighted average years Weighted average $2.75 to $3.99 49,998 0.33 2.91 $4.00 to $5.99 245,531 0.02 4.41 $6.00 to $6.48 16,666 0.50 6.45 312,195 0.09 4.28
Schedule Of Sunward Arrangement Stock Options Outstanding [Table Text Block]	Number of RSUs Number of DSUs Balance – beginning of year - 904,603 Granted 600,000 239,582 Vested/paid (199,999) (218,795) Balance – end of year 400,001 925,390
Schedule of Warrants, Activity [Table Text Block]	Number of Warrants Weighted average Weighted average Balance – beginning of year 6,521,740 2.60 1.60 Balance – end of year 6,521,740 2.60 1.60

Financial instruments (Tables)

Financial instruments (Tables)	12 Months Ended
	Nov. 30, 2016
Contractual Obligation, Fiscal Year Maturity Schedule [Table Text Block]	Contractually obligated cash flow requirements as at November 30, 2016 are as follows. in thousands of dollars Total <1 Year 1–2 Years 2–5 Years Thereafter Accounts payable and accrued liabilities 593 593 - - - Office lease (note 12) 75 75 - - - 668 668 - - -
Fair Value Measurements, Recurring and Nonrecurring [Table Text Block]	The levels in the fair value hierarchy into which the Company’s financial assets and liabilities that are measured and recognized at fair value on a recurring basis were categorized as follows: in thousands of dollars November 30, 2016 November 30, 2015 Level 1 Level 2 Level 3 Level 1 Level 2 Level 3 Current investments – shares 7,538 - - - - - Investments – warrants - - 297 - - -

Income taxes (Tables)

Income taxes (Tables)	12 Months Ended
	Nov. 30, 2016
Schedule of Income Tax Expense [Table Text Block]	Income tax expense differs from the amount that would result from applying the Canadian federal and provincial income tax rates to earnings before income taxes. These differences result from the following items: in thousands of dollars November 30, 2016 November 30, 2015 November 30, 2014 Combined federal and provincial statutory tax rate 26.00 % 26.00 % 26.00 % Income taxes at statutory rate (1,264) (2,479) (2,508) Difference in foreign tax rates (750) (680) (580) Effect of foreign exchange changes (339) 2,264 - Non-taxable gain on the sale of Sunward Investments (545) - - Non-deductible expenditures 175 239 243 Return to provision adjustments (510) (102) (224) Other (68) - - Disposition of Sunward Investments 7,051 - - Valuation allowance (3,750) 758 3,069 Income tax expense - - -
Schedule of Future Income Tax Assets and Liabilities [Table Text Block]	The significant components of deferred income tax assets and liabilities at November 30, 2016 and 2015 are as follows: in thousands of dollars November 30, 2016 November 30, 2015 Deferred income tax assets Non-capital losses 58,204 63,397 Mineral property interest 14,491 14,116 Deferred interest 9,040 9,040 Property, plant and equipment 47 61 Share issuance costs 126 198 Other deductible temporary differences 450 575 Total deferred tax assets 82,358 87,387 Valuation allowance (82,344) (86,094) Net deferred income tax assets 14 1,293 Deferred income tax liabilities Mineral property interest - (1,109) Other taxable temporary differences (14) (184) Deferred income tax liabilities (14) (1,293) Net deferred income tax assets - -
Schedule of Loss Carry-Forwards Expiry [Table Text Block]	The losses expire as follows in the following jurisdictions: in thousands of dollars Non-capital losses Operating losses 2017 - - 2018 - 4,206 2019 - 975 2020 - 830 Thereafter 31,262 115,797 31,262 121,808

Commitment (Tables)

Commitment (Tables)	12 Months Ended
	Nov. 30, 2016
Schedule of Future Minimum Lease Payments [Table Text Block]	The Company has commitments in respect of office leases requiring future minimum lease payments as follows: in thousands of dollars November 30, 2016 2017 75 Total 75

Summary of significant accoun31

Summary of significant accounting policies (Narrative) (Details)	12 Months Ended
	Nov. 30, 2016	Jun. 19, 2015
Likelihood of tax benefit being realized upon settlement	50.00%
Computer hardware and software [Member]
Property, Plant and Equipment, Useful Life	3 years
Machinery and equipment [Member]
Property, Plant and Equipment, Useful Life	3 years
Furniture and Fixtures [Member]
Property, Plant and Equipment, Useful Life	5 years
Vehicles [Member]
Property, Plant and Equipment, Useful Life	3 years
Sunward Resources Ltd. [Member]
Mineral Property Right Ownership Percentage		100.00%

Sale of Sunward Investments L32

Sale of Sunward Investments Ltd (Narrative) (Details) CAD / shares in Units, $ / shares in Units, $ in Thousands	12 Months Ended
	Nov. 30, 2016USD ($)$ / sharesshares	Nov. 30, 2016CADshares	Nov. 30, 2016CAD / shares	Jun. 19, 2015
Noncash or Part Noncash Acquisition, Investments Acquired Shares | shares	5,000,000	5,000,000
Noncash or Part Noncash Acquisition, Noncash Financial or Equity Instrument Consideration, Warrants Issued | shares	1,000,000	1,000,000
Noncash or Part Noncash Divestiture, Amount of Consideration Received	$ 8,102
Business Acquisition, Equity Interest Issued or Issuable, Value Assigned	7,800
Gain (Loss) on Disposition of Business	$ 4,448
Share Price | (per share)	$ 1.56		CAD 2.04
Sunward Investments [Member]
Class of Warrant or Right, Grants in Period, Exercise Price | CAD		CAD 3.50
Mineral property acquisition				100.00%
Noncash or Part Noncash Divestiture, Amount of Consideration Received	$ 8,100
Noncash or Part Noncash Acquisition Noncash Financial or Equity Instrument Consideration Warrants Value	$ 300

Sale of Sunward Investments L33

Sale of Sunward Investments Ltd (Schedule of Gain on Sale of Sunward Investments) (Details) $ in Thousands	12 Months Ended
	Nov. 30, 2016USD ($)
Consideration received	$ 8,102
Cash reimbursement from BRI	51
Net assets sold	(3,545)
Transaction costs	(160)
Gain on sale of Sunward Investments	$ 4,448

Sale of Sunward Investments L34

Sale of Sunward Investments Ltd (Schedule of Fair Value of Warrants) (Details)	12 Months Ended
	Nov. 30, 2016CAD / shares
Risk-free interest rates	0.59%
Exercise price	CAD 3.50
Expected life	2 years
Expected forfeiture rate	0.00%
Expected volatility	66.90%
Expected dividends

Sale of Sunward Investments L35

Sale of Sunward Investments Ltd (Schedule of Discontinued Operations of Sunward Investments) (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended			17 Months Ended
	Sep. 01, 2016	Nov. 30, 2016	Nov. 30, 2015	Nov. 30, 2014	Nov. 30, 2016
Discontinued operations expense for the year		$ 598	$ 398	$ 0
Gain on sale of Sunward Investments Ltd.		(4,448)	0	0
(Income)/loss from discontinued operations for the year		$ (3,850)	$ 398	$ 0
Sunward Investment [Member]
Amortization	$ 95				$ 63
Foreign exchange loss	4				23
General and administrative	5				3
Mineral properties expense	460				309
Professional fees	34				0
Discontinued operations expense for the year	598				398
Gain on sale of Sunward Investments Ltd.	(4,448)				0
(Income)/loss from discontinued operations for the year	$ (3,850)				$ 398

Schedule of Stock Options, Valu

Schedule of Stock Options, Valuation Assumptions (Details)	12 Months Ended
	Nov. 30, 2016$ / shares	Nov. 30, 2015$ / shares	Nov. 30, 2014$ / shares	Nov. 30, 2016CAD / shares
Average risk-free interest rate	0.52%		1.16%
Exercise price | $ / shares	$ 0.43	$ 0.55	$ 1.22
Expected life	3 years	3 years	3 years
Expected volatility	59.40%		60.20%
Expected dividends	0.00%	0.00%	0.00%
Sunward Arrangement [Member]
Average risk-free interest rate	0.62%
Expected life	2 months 28 days
Expected forfeiture rate	0.00%
Expected volatility	50.20%
Expected dividends	0.00%
Minimum [Member]
Average risk-free interest rate		0.42%
Expected volatility		56.80%
Minimum [Member] | Sunward Arrangement [Member]
Exercise price				CAD 0.54
Maximum [Member]
Average risk-free interest rate		1.12%
Expected volatility		59.50%
Maximum [Member] | Sunward Arrangement [Member]
Exercise price				CAD 6.27

Schedule of Business Acquisitio

Schedule of Business Acquisitions, Consideration Paid and Fair Value of Assets and Liabilities Acquired (Details) - USD ($) $ / shares in Units, $ in Thousands	Jun. 19, 2015	Nov. 30, 2015	Nov. 30, 2016	Nov. 30, 2014
Common shares issued		$ 22,851
Sunward Arrangement Options		$ 142
Issued pursuant to the Sunward Arrangement (shares)		43,116,312
Cash		$ 75	$ 0	$ 0
Sunward Resources Ltd. [Member]
Common shares issued	$ 22,851
Sunward Arrangement Options	$ 108
Issued pursuant to the Sunward Arrangement (shares)	43,116,312
Exercise price	$ 0.53
Total consideration	$ 22,959
Cash	19,399
Accounts receivable	19
Deposits and prepaid amounts	104
Plant and equipment	343
Mineral properties and developments costs	3,264
Accounts payable and accrued liabilities	(170)
Net Assets	$ 22,959

Acquisition of Sunward Resour38

Acquisition of Sunward Resources Ltd. (Narrative) (Details) $ / shares in Units, $ in Thousands	Jun. 19, 2015USD ($)$ / sharesshares	Nov. 30, 2016USD ($)shares	Nov. 30, 2015USD ($)shares
Stock Issued Pursuant To The Sunward Arrangement | shares			43,116,312
Stock Issued Pursuant To The Sunward Arrangement Value | $			$ 22,851
Sunward Arrangement Options [Member]
Stock Issued Pursuant To The Sunward Arrangement | shares	43,116,312
Stock Issued Pursuant To The Sunward Arrangement Value | $		$ 22,900
Exchange Ratio	0.3
Sunward Options Outstanding | shares	8,350,000
Options Exchanged Pursuant To Sunward Agreement | shares	2,505,000	2,505,000
Common shares issued for Sunward Arrangement options, value | $	$ 100
Exercise price | $ / shares	$ 0.53
Acquisition costs | $	$ 800

Mineral properties and develo39

Mineral properties and development costs (Narrative) (Details) - USD ($) $ in Thousands	Jan. 11, 2010	Oct. 31, 2011	Oct. 19, 2011	Nov. 30, 2016	Nov. 30, 2015	Nov. 30, 2014	Nov. 30, 2016
Mineral properties expense				$ 5,037	$ 4,167	$ 2,512
Approximations
Payments for mineral property							$ 93,600
Acquisition costs							30,600
Mineral properties expense							$ 63,000
Bornite Property [Member]
Payments for mineral property		$ 4,000
Net proceeds royalty			0.00%
Discount on consideration			$ 40,000
Bornite Property [Member] | Minimum [Member]
Mineral property interest percentage			16.00%
Net smelter return royalty			1.00%
Bornite Property [Member] | Maximum [Member]
Mineral property interest percentage			25.00%
Net smelter return royalty			2.50%
Ambler Property [Member]
Mineral property interest percentage	100.00%
Mineral property, fair value of consideration	$ 26,600
Net smelter return royalty	1.00%
Purchase price of the net smelter royalty	$ 10,000

Schedule of Plant and Equipment

Schedule of Plant and Equipment (Details) - USD ($) $ in Thousands	Nov. 30, 2016	Nov. 30, 2015
Cost	$ 3,486	$ 3,364
Accumulated amortization	(3,271)	(3,191)
Net	215	173
Furniture and equipment [Member] | British Columbia, Canada [Member]
Cost	46	46
Accumulated amortization	(33)	(24)
Net	13	22
Leasehold improvements [Member] | British Columbia, Canada [Member]
Cost	32	32
Accumulated amortization	(28)	(20)
Net	4	12
Machinery and equipment [Member] | Alaska, USA [Member]
Cost	2,921	2,877
Accumulated amortization	(2,798)	(2,777)
Net	123	100
Vehicles [Member] | Alaska, USA [Member]
Cost	348	275
Accumulated amortization	(285)	(262)
Net	63	13
Computer hardware and software [Member] | British Columbia, Canada [Member]
Cost	108	103
Accumulated amortization	(96)	(77)
Net	12	26
Computer hardware and software [Member] | Alaska, USA [Member]
Cost	31	31
Accumulated amortization	(31)	(31)
Net	$ 0	$ 0

Schedule of Mineral Properties

Schedule of Mineral Properties and Development Costs (Details) - USD ($) $ in Thousands		12 Months Ended
		Nov. 30, 2016	Nov. 30, 2015	Nov. 30, 2014
Mineral properties and development costs		$ 30,586	$ 30,586
Alaska, USA [Member]
Acquisition costs		0
Mineral properties and development costs		30,586	30,586	$ 30,586
Ambler Propertyss [Member] | Alaska, USA [Member]
Acquisition costs	[1]	0	0
Mineral properties and development costs	[1]	26,586	26,586	26,586
Bornite Propertys [Member] | Alaska, USA [Member]
Acquisition costs	[2]	0	0
Mineral properties and development costs	[2]	$ 4,000	$ 4,000	$ 4,000
[1]	Ambler On January 11, 2010, NovaGold Resources Inc. (“NovaGold”), through Alaska Gold Company (“AGC”), at the time a wholly-owned subsidiary, purchased 100% of the Ambler lands in Northwest Alaska, which contains the copper-zinc-lead-gold-silver Arctic Project and other mineralized targets within the volcanogenic massive sulfide belt, through a series of cash and share payments. Total fair value of the consideration was $26.6 million. The vendor retained a 1% net smelter return royalty that the owner of the property can purchase at any time for a one-time payment of $10.0 million. The Ambler lands were acquired on October 17, 2011 by NovaCopper US through a purchase and sale agreement with AGC. On October 24, 2011, NovaGold transferred its ownership of NovaCopper US to the Company, then a wholly owned subsidiary of NovaGold, which was subsequently spun-out to NovaGold shareholders and publicly listed on April 30, 2012 (“NovaGold Arrangement”).
[2]	Bornite On October 19, 2011, NovaCopper US acquired the exclusive right to explore and the non-exclusive right to access and enter on the Bornite lands, and lands deeded to NANA Regional Corporation, Inc. (“NANA”) through the Alaska Native Claims Settlement Act, located adjacent to the Ambler lands in Northwest Alaska. As consideration, NovaCopper US paid $4 million to acquire the right to explore and develop the combined Upper Kobuk Mineral Projects through an Exploration Agreement and Option to Lease with NANA. NANA also has the right to appoint a member to Trilogy’s board of directors before April 2017. NANA has not exercised their right to appoint a board member at this time. Upon a decision to proceed with construction of a mine on the lands, NANA maintains the right to purchase between a 16%-25% ownership interest in the mine or retain a 15% net proceeds royalty which is payable after NovaCopper US has recovered certain historical costs, including capital and cost of capital. Should NANA elect to purchase an ownership interest, consideration will be payable equal to all historical costs incurred on the properties at the elected percentage purchased less $40 million, not to be less than zero. The parties would form a joint venture and be responsible for all future costs, including capital costs of the mine based on their pro-rata share. NANA would also be granted a net smelter return royalty of between 1% and 2.5% upon the execution of a mining lease or a surface use agreement, the amount of which is determined by the classification of land from which production originates.

Schedule of Mineral Property Ex

Schedule of Mineral Property Expenses (Details) - USD ($) $ in Thousands	12 Months Ended
	Nov. 30, 2016	Nov. 30, 2015	Nov. 30, 2014
Mineral property expense	$ 5,037	$ 4,167	$ 2,512
Alaska, USA [Member]
Community	299	126	137
Drilling	712	698	0
Engineering	699	441	117
Environmental	314	88	36
Geochemistry and geophysics	82	70	238
Land and permitting	426	421	378
Other income	(34)	(209)	(9)
Project support	1,254	1,411	438
Wages and benefits	1,285	1,122	1,177
Mineral property expense	$ 5,037	$ 4,167	$ 2,512

Schedule of Accounts Payable an

Schedule of Accounts Payable and Accrued Liabilities (Details) - USD ($) $ in Thousands	Nov. 30, 2016	Nov. 30, 2015
Trade accounts payable	$ 160	$ 161
Accrued liabilities	281	442
Accrued salaries and vacation	152	109
Accounts payable and accrued liabilities	$ 593	$ 712

Share capital (Narrative) (Deta

Share capital (Narrative) (Details)	12 Months Ended
	Nov. 30, 2016USD ($)$ / sharesshares	Nov. 30, 2016USD ($)$ / sharesCAD / sharesshares	Nov. 30, 2015USD ($)$ / sharesshares	Nov. 30, 2015CADCAD / sharesshares	Nov. 30, 2014USD ($)
Stock options granted, weighted average exericse price | (per share)	$ 0.33	CAD 0.43		CAD 0.55
Stock options granted	1,785,000
Stock options exercised	(422,199)
Proceeds from stock options exercised | $	$ 0		$ 0		$ 16,000
Stock options granted, weighted average exercise price | $ / shares	$ 0.38
Stock-based compensation | $	$ 615,000		$ 831,000		887,000
Non-vested stock options outstanding	6,049,433	6,049,433	5,288,350
Weighted average exercise price options outstanding | $ / shares	$ 0.50	CAD 0.50	$ 0.57
Percent of issued and outstanding shares threshold	10.00%
Aggregate intrinsic value, vested options | $	$ 600,000	CAD 600,000	$ 0		0
Aggregate intrinsic value, options exercised | $	$ 100,000
Non-Vested Options [Member]
Non-vested stock options outstanding	1,401,675	1,401,675
Weighted average exercise price options outstanding | $ / shares	$ 0.37	CAD 0.37
Number of RSU's [Member]
Granted	600,000
Number of DSU's [Member]
Common stock committed for issuance	20,685	20,685
Granted	239,582
Class of Warrant or Right, Number of Securities Called by Warrants or Rights	3,447	3,447
Stock-based Compensation [Member]
Stock-based compensation | $	$ 300,000		$ 100,000		400,000
NovaGold Arrangement Options [Member]
Non-vested stock options outstanding	312,195	312,195	509,272
Weighted average exercise price options outstanding | $ / shares	$ 4.28	CAD 4.28	$ 4.77
Aggregate intrinsic value, vested options | $	$ 0	CAD 0	$ 0		0
Options expired	169,878
Sunward Arrangement [Member]
Stock options exercised			347,999	347,999
Proceeds from stock options exercised			$ 142,000	CAD 188,000
Stock-based compensation | $	$ 300,000
Aggregate intrinsic value, vested options | $			$ 10,000
Options expired			2,157,001	2,157,001
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures and Expirations in Period	2,505,000
Plan of Arrangement [Member]
Common stock committed for issuance	6,181,352	6,181,352
Approximationss [Member]
Stock-based compensation | $	$ 400,000		$ 700,000		$ 500,000
Approximationss [Member] | Non-Vested Options [Member]
Stock option expense | $	$ 0.05
Director [Member] | Number of DSU's [Member]
Granted	164,582
New Employees [Member]
Stock options granted	1,785,000		3,813,350	3,813,350
Stock options granted, weighted average exercise price | $ / shares	$ 0.13		$ 0.17
New Directors [Member] | Number of DSU's [Member]
Granted	75,000

Schedule of Common Shares Issue

Schedule of Common Shares Issued and Outstanding (Details) - USD ($) $ in Thousands	12 Months Ended
	Nov. 30, 2016	Nov. 30, 2015	Nov. 30, 2014
Number of Common Shares	104,796,421	60,296,365	53,066,656
Ascribed Value Common Shares	$ 136,040	$ 111,833	$ 104,895
Exercise of NovaGold Warrants			$ 631
NovaGold Performance and Deferred Share Units (shares)			14,166
NovaGold Performance and Deferred Share Units Ascribed Value			$ 28
Private Placement (shares)			6,521,740
Private placement			$ 5,068
Issued pursuant to the Sunward Arrangement (shares)		43,116,312
Common shares issued		$ 22,851
Exercise of options (shares)	162,854	7,499	46,929
Exercise of options	$ 65	$ 7
Exercise of Sunward Arrangement Options (shares)		347,999
Exercise of Sunward Arrangement Options Ascribed Value		$ 177
Restricted Share Units (Shares)	108,399	795,368	492,501
Restricted Share Units	$ 34	$ 819	$ 929
Deferred Share Units (Shares)	218,795	232,878	154,373
Deferred Share Units	$ 218	$ 353	$ 282
Number of Common Shares	105,286,469	104,796,421	60,296,365
Ascribed Value Common Shares	$ 136,357	$ 136,040	$ 111,833

Schedule of Stock Options Activ

Schedule of Stock Options Activity (Details)	12 Months Ended
	Nov. 30, 2016$ / sharesshares	Nov. 30, 2016CAD / sharesshares	Nov. 30, 2015CAD / sharesshares
Balance - Beginning of Period, Number of stock Options	5,288,350	5,288,350
Balance - Beginning of Period, Weighted average exercise price | $ / shares	$ 0.57
Stock options granted	1,785,000	1,785,000
Stock options, weighted average exercise price | (per share)	$ 0.33	CAD 0.43	CAD 0.55
Exercise of options (Shares)	(422,199)	(422,199)
Stock options, weighted average exercise price, exercised | $ / shares	$ 0.38
Stock options, number of options forfeited during the period	(601,718)	(601,718)
Stock options, weighted average exercise price of forfeitures | $ / shares	$ 0.58
Balance - End of Period, Number of stock options	6,049,433	6,049,433	5,288,350
Balance - End of Period, Weighted average exercise price | $ / shares	$ 0.50

Schedule of Disclosure of Stock

Schedule of Disclosure of Stock Options Outstanding (Details)	12 Months Ended
	Nov. 30, 2016$ / sharesshares
Number of outstanding options | shares	6,049,433
Weighted average years to expiry	3 years 5 months 26 days
Weighted average exercise price options outstanding	$ 0.50
Number of exercisable options | shares	4,647,758
Weighted average exercise price	$ 0.55
Number of unvested options | shares	1,401,675
Range 1 [Member]
Exercise price lower range limit	$ 0.33
Exercise price upper range limit	$ 0.99
Number of outstanding options | shares	5,994,433
Weighted average years to expiry	3 years 6 months 4 days
Weighted average exercise price options outstanding	$ 0.50
Number of exercisable options | shares	4,592,758
Weighted average exercise price	$ 0.53
Number of unvested options | shares	1,401,675
Range 2 [Member]
Exercise price lower range limit	$ 1
Exercise price upper range limit	$ 1.47
Number of outstanding options | shares	55,000
Weighted average years to expiry	1 year 5 months 1 day
Weighted average exercise price options outstanding	$ 1.47
Number of exercisable options | shares	55,000
Weighted average exercise price	$ 1.47
Number of unvested options | shares	0

Schedule of NovaGold Arrangemen

Schedule of NovaGold Arrangement Options Activity (Details)	12 Months Ended
	Nov. 30, 2016$ / sharesshares
Balance - Beginning of Period, Number of stock Options | shares	5,288,350
Balance - Beginning of Period, Weighted average exercise price | $ / shares	$ 0.57
Stock options, number of options forfeited during the period | shares	(601,718)
Stock options, weighted average exercise price of forfeitures | $ / shares	$ 0.58
Balance - End of Period, Number of stock options | shares	6,049,433
Balance - End of Period, Weighted average exercise price | $ / shares	$ 0.50
NovaGold Arrangement Options [Member]
Balance - Beginning of Period, Number of stock Options | shares	509,272
Balance - Beginning of Period, Weighted average exercise price | $ / shares	$ 4.77
Stock options, number of options forfeited during the period | shares	(27,199)
Stock options, weighted average exercise price of forfeitures | $ / shares	$ 4.68
Stock options, number of options expired | shares	(169,878)
Stock options, weighted average exercise price, stock options expired | $ / shares	$ 5.61
Balance - End of Period, Number of stock options | shares	312,195
Balance - End of Period, Weighted average exercise price | $ / shares	$ 4.28

Schedule of NovaGold Arrangem49

Schedule of NovaGold Arrangement Stock Options Outstanding (Details)	12 Months Ended
	Nov. 30, 2016$ / sharesshares
Weighted average exercise price	$ 0.55
NovaGold Arrangement Options [Member]
Number of outstanding and exercisable options | shares	312,195
Weighted average years to expiry	1 month 2 days
Weighted average exercise price	$ 4.28
NovaGold Arrangement Range 1 [Member] | NovaGold Arrangement Options [Member]
Exercise price lower range limit	2.75
Exercise price upper range limit	$ 3.99
Number of outstanding and exercisable options | shares	49,998
Weighted average years to expiry	3 months 29 days
Weighted average exercise price	$ 2.91
NovaGold Arrangement Range 2 [Member] | NovaGold Arrangement Options [Member]
Exercise price lower range limit	4
Exercise price upper range limit	$ 5.99
Number of outstanding and exercisable options | shares	245,531
Weighted average years to expiry	7 days
Weighted average exercise price	$ 4.41
NovaGold Arrangement Range 3 [Member] | NovaGold Arrangement Options [Member]
Exercise price lower range limit	6
Exercise price upper range limit	$ 6.48
Number of outstanding and exercisable options | shares	16,666
Weighted average years to expiry	6 months
Weighted average exercise price	$ 6.45

Schedule of Unit Plans and Chan

Schedule of Unit Plans and Changes Activity (Details)	12 Months Ended
	Nov. 30, 2016shares
Number of RSU's [Member]
Balance-beginning of period	0
Granted	600,000
Vested/paid	(199,999)
Balance-end of period	400,001
Number of DSU's [Member]
Balance-beginning of period	904,603
Granted	239,582
Vested/paid	(218,795)
Balance-end of period	925,390

Schedule of Warrants, Activity

Schedule of Warrants, Activity (Details) - $ / shares	12 Months Ended
	Nov. 30, 2016	Nov. 30, 2015
Balance - beginning of period	6,521,740
Weighted average years to expiry	2 years 7 months 6 days	2 years 7 months 6 days
Weighted average exercise price	$ 1.60	$ 1.60
Balance - end of period	6,521,740	6,521,740

Financial instruments (Narrativ

Financial instruments (Narrative) (Details)	12 Months Ended
	Nov. 30, 2016USD ($)	Nov. 30, 2016CAD	Nov. 30, 2015USD ($)
Accounts receivable | $	$ 47,000		$ 39,000
Deposits and prepaid amounts | $	724,000		$ 688,000
Interest rate loss | $	$ 100,000
Canadian Limit Due to Currency Risk [Member]
Cash		CAD 451,000
Accounts receivable		32,000
Deposits and prepaid amounts		146,000
Accounts payable		CAD 528,000
Change in foreign exchange rate	1.00%	1.00%
Foreign currency net loss | $	$ 79,000
Change in interest rate	1.00%
Investments		CAD 10,521,000

Schedule of Contractually Oblig

Schedule of Contractually Obligated Cash Flow Requirements (Details) $ in Thousands	Nov. 30, 2016USD ($)
Total	$ 668
Within 1 Year	668
1 - 2 Years	0
2 - 5 Years	0
Thereafter	0
Accounts Payable and Accrued Liabilities
Total	593
Within 1 Year	593
1 - 2 Years	0
2 - 5 Years	0
Thereafter	0
Office Lease [Member]
Total	75
Within 1 Year	75
1 - 2 Years	0
2 - 5 Years	0
Thereafter	$ 0

Schedule of financial assets an

Schedule of financial assets and liabilities that are measured and recognized at fair value (Details) - USD ($) $ in Thousands	Nov. 30, 2016	Nov. 30, 2015
Fair Value, Inputs, Level 1 [Member] | Warrant [Member]
Investments, Fair Value Disclosure	$ 0	$ 0
Fair Value, Inputs, Level 1 [Member] | Equity Securities [Member]
Investments, Fair Value Disclosure	7,538	0
Fair Value, Inputs, Level 2 [Member] | Warrant [Member]
Investments, Fair Value Disclosure	0	0
Fair Value, Inputs, Level 2 [Member] | Equity Securities [Member]
Investments, Fair Value Disclosure	0	0
Fair Value, Inputs, Level 3 [Member] | Warrant [Member]
Investments, Fair Value Disclosure	297	0
Fair Value, Inputs, Level 3 [Member] | Equity Securities [Member]
Investments, Fair Value Disclosure	$ 0	$ 0

Income taxes (Narrative) (Detai

Income taxes (Narrative) (Details) $ in Millions	12 Months Ended
	Nov. 30, 2016USD ($)
Change in control percentage	50.00%
Losses In Canada Subject To Limitations [Member]
Loss carryforwards	$ 15.2
Approximationss [Member]
Loss carryforwards	153.1
Approximationss [Member] | US Losses Subject To Limitations [Member]
U.S. carryforward losses	$ 39.4

Schedule of Income Tax Expense

Schedule of Income Tax Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Nov. 30, 2016	Nov. 30, 2015	Nov. 30, 2014
Combined federal and provincial statutory tax rate	26.00%	26.00%	26.00%
Income taxes at statutory rate	$ (1,264)	$ (2,479)	$ (2,508)
Difference in foreign tax rates	(750)	(680)	(580)
Effect Of Foreign Exchange Changes	(339)	2,264	0
Non-taxable gain on the sale of Sunward Investments	(545)	0	0
Non-deductible expenditures	175	239	243
Return to provision adjustments	(510)	(102)	(224)
Other	(68)	0	0
Disposition of Sunward Investments	7,051	0	0
Valuation allowance	(3,750)	758	3,069
Income tax expense	$ 0	$ 0	$ 0

Schedule of Future Income Tax A

Schedule of Future Income Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Nov. 30, 2016	Nov. 30, 2015
Deferred income tax assets
Non-capital losses	$ 58,204	$ 63,397
Mineral property interest	14,491	14,116
Deferred interest	9,040	9,040
Property, plant and equipment	47	61
Share issuance costs	126	198
Other deductible temporary differences	450	575
Total deferred tax assets	82,358	87,387
Valuation allowance	(82,344)	(86,094)
Net deferred income tax assets	14	1,293
Deferred income tax liabilities
Mineral property interest	0	(1,109)
Mineral property interest	(14)	(184)
Deferred income tax liabilities	(14)	(1,293)
Net deferred income tax assets	$ 0	$ 0

Schedule of Loss Carry-Forwards

Schedule of Loss Carry-Forwards Expiry (Details) - CA [Member] $ in Thousands	Nov. 30, 2016USD ($)
Opertaing losses	$ 121,808
Non-capital losses Canada	31,262
2,017
Opertaing losses	0
Non-capital losses Canada	0
2,018
Opertaing losses	4,206
Non-capital losses Canada	0
2,019
Opertaing losses	975
Non-capital losses Canada	0
2,020
Opertaing losses	830
Non-capital losses Canada	0
Thereafter [Member]
Opertaing losses	115,797
Non-capital losses Canada	$ 31,262

Schedule of Future Minimum Leas

Schedule of Future Minimum Lease Payments (Details) $ in Thousands	Nov. 30, 2016USD ($)
2,017	$ 75
Total	$ 75

Subsequent events (Narrative) (

Subsequent events (Narrative) (Details) - USD ($)	1 Months Ended		12 Months Ended
	Dec. 23, 2016	Dec. 15, 2016	Nov. 30, 2014	Jan. 31, 2017	Jan. 30, 2017	Nov. 30, 2016
Subsequent Event [Line Items]
Stock Issued During Period, Shares, New Issues			6,521,740
Lease commitment						$ 668,000
Subsequent Event [Member]
Subsequent Event [Line Items]
Commitments and Contingencies				$ 0
Lease commitment					$ 1,300,000
Subsequent Event [Member] | Employee [Member]
Subsequent Event [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross		1,070,000
Subsequent Event [Member] | Director [Member]
Subsequent Event [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross		525,000
Subsequent Event [Member] | Restricted Stock Units (RSUs) [Member]
Subsequent Event [Line Items]
Stock Issued During Period, Shares, New Issues	104,599
Payments Related to Tax Withholding for Share-based Compensation	$ 60,000
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period	200,000
Subsequent Event [Member] | Restricted Stock Units (RSUs) [Member] | Officer [Member]
Subsequent Event [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period		600,000
Subsequent Event [Member] | Restricted Stock Units (RSUs) [Member] | Share-based Compensation Award, Tranche One [Member]
Subsequent Event [Line Items]
Stock Issued During Period, Shares, New Issues		104,599
Payments Related to Tax Withholding for Share-based Compensation		$ 60,000