Trilogy Metals (TMQ) 10-Q 4 Apr 17 2017 Q1 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	3 Months Ended
	Feb. 28, 2017	Apr. 03, 2017
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Feb. 28, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q1
Entity Registrant Name	Trilogy Metals Inc.
Entity Central Index Key	1,543,418
Current Fiscal Year End Date	--11-30
Entity Filer Category	Smaller Reporting Company
Trading Symbol	TMQ
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Common Stock, Shares Outstanding		105,537,824

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Feb. 28, 2017	Nov. 30, 2016
Current assets
Cash and cash equivalents	$ 6,447	$ 7,340
Accounts receivable	30	47
Deposits and prepaid amounts	574	724
Current investments (note 3)	5,869	7,538
Total Current Assets	12,920	15,649
Investments (note 3)	183	297
Plant and equipment (note 4)	195	215
Mineral properties and development costs (note 5)	30,586	30,586
Total Assets	43,884	46,747
Current liabilities
Accounts payable and accrued liabilities (note 6)	421	593
Total Liabilities	421	593
Shareholders' equity
Share capital (note 7) - unlimited common shares authorized, no par value Issued -105,520,261 (2016 - 105,286,469)	136,449	136,357
Warrants (note 7(d))	2,163	2,163
Contributed surplus	124	124
Contributed surplus - options (note 7(a, b))	18,351	18,134
Contributed surplus - units (note 7(c))	1,136	1,140
Deficit	(114,760)	(111,764)
Total Stockholders' Equity	43,463	46,154
Total Liabilities and Stockholders' Equity	$ 43,884	$ 46,747

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	3 Months Ended	12 Months Ended
	Feb. 28, 2017	Nov. 30, 2016
Common Stock, Shares Authorized, Unlimited	Unlimited	Unlimited
Common Stock, No Par Value
Common Stock, Shares, Issued	105,520,261	105,286,469

Consolidated Statements of Loss

Consolidated Statements of Loss and Comprehensive Loss - USD ($) $ in Thousands	3 Months Ended
	Feb. 28, 2017	Feb. 29, 2016
Expenses
Amortization	$ 20	$ 22
Foreign exchange (gain) loss	(80)	6
General and administrative	370	346
Investor relations	63	4
Mineral properties expense (note 5(c))	639	532
Professional fees	125	136
Salaries	239	213
Salaries - stock-based compensation	395	282
Total expenses	1,771	1,541
Other items
Unrealized loss on held for trading investments	1,239	0
Gain on sale of investments	(3)	0
Interest and other income	(11)	(18)
Loss from continuing operations for the period	2,996	1,523
Loss from discontinued operations	0	172
Loss from discontinued operations for the period	0	172
Loss and comprehensive loss for the period	$ 2,996	$ 1,695
Basic and diluted loss from continuing operations per common share	$ 0.03	$ 0.01
Basic and diluted loss per common share	$ 0.03	$ 0.02
Weighted average number of common shares outstanding	105,447,428	104,940,884

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, 2015	$ 50,430	$ 136,040	$ 2,163	$ 124	$ 17,841	$ 1,164	$ (106,902)
Beginning Balance (Shares) at Nov. 30, 2015		104,796,421
Restricted Share Units	(29)	$ 34	0	0	0	(63)	0
Restricted Share Units (Shares)		108,399
Deferred Share Units	0	$ 29	0	0	0	(29)	0
Deferred Share Units (Shares)		75,000
Stock-based compensation	282	$ 0	0	0	184	98	0
Loss for the period	(1,695)	0	0	0	0	0	(1,695)
Ending Balance at Feb. 29, 2016	48,988	$ 136,103	2,163	124	18,025	1,170	(108,597)
Ending Balance (Shares) at Feb. 29, 2016		104,979,820
Beginning Balance at Nov. 30, 2016	46,154	$ 136,357	2,163	124	18,134	1,140	(111,764)
Beginning Balance (Shares) at Nov. 30, 2016		105,286,469
Exercise of options	0	$ 9	0	0	(9)	0	0
Exercise of options (Shares)		24,594
Restricted Share Units	(90)	$ 83	0	0	0	(173)	0
Restricted Share Units (Shares)		209,198
Stock-based compensation	395	$ 0	0	0	226	169	0
Loss for the period	(2,996)	0	0	0	0	0	(2,996)
Ending Balance at Feb. 28, 2017	$ 43,463	$ 136,449	$ 2,163	$ 124	$ 18,351	$ 1,136	$ (114,760)
Ending Balance (Shares) at Feb. 28, 2017		105,520,261

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Feb. 28, 2017	Feb. 29, 2016
Cash flows used in operating activities
Loss for the period	$ (2,996)	$ (1,695)
Items not affecting cash
Amortization	20	54
Unrealized loss on held for trading investments	1,239	0
Unrealized foreign exchange (gain) loss	(92)	0
Gain on sale of investments	(3)	0
Stock-based compensation	395	282
Net change in non-cash working capital
Decrease in accounts receivable	17	8
Decrease in deposits and prepaid amounts	150	175
(Decrease) in accounts payable and accrued liabilities	(172)	(254)
Net Cash Provided by (Used in) Operating Activities	(1,442)	(1,430)
Cash flows from (used in) financing activities
Settlement of Restricted Share Units	(90)	(29)
Net Cash Provided by (Used in) Financing Activities	(90)	(29)
Cash flows from (used in) investing activities
Acquisition of plant & equipment	0	(2)
Proceeds from the sale of investments, net of fees	639	0
Net Cash Provided by (Used in) Investing Activities	639	(2)
Increase (decrease) in cash and cash equivalents	(893)	(1,461)
Cash and cash equivalents - beginning of period	7,340	16,139
Cash and cash equivalents - end of period	6,447	14,678
Less cash and cash equivalents of discontinued operations - end of period	0	(24)
Cash and cash equivalents of continuing operations - end of period	$ 6,447	$ 14,654

Nature of operations

Nature of operations	3 Months Ended
	Feb. 28, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
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	3 Months Ended
	Feb. 28, 2017
Accounting Policies [Abstract]
Summary of significant accounting policies [Text Block]	2. Summary of significant accounting policies These consolidated financial statements 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 The unaudited interim consolidated financial statements include all adjustments of a normal recurring nature necessary for the fair presentation of our financial position as of February 28, 2017, our results of operations and cash flows for the three months ended February 28, 2017, and February 29, 2016. The results of operations for the three months ended February 28, 2017 are not necessarily indicative of the results to be expected for the year ending November 30, 2017. As these interim consolidated financial statements do not contain all of the disclosures required by U.S. GAAP for annual financial statements, these unaudited interim consolidated financial statements should be read in conjunction with the annual financial statements and related notes included in our Annual Report on Form 10-K for the fiscal year ended November 30, 2016 filed with the U.S. Securities and Exchange Commission (“SEC”) on February 3, 2017. These financial statements were approved by the Company’s Audit Committee on behalf of the Board of Directors for issue on April 3, 2017. i. 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, specifically our office 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. ii. 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. The Company has analyzed the impact of the update and determined that the simplification applied to accounting for forfeitures will affect the results of operations and financial position as it will alter the timing of recognition of forfeitures. The Company is currently considering its policy choice. The remaining changes in the update do not have an effect on the Company’s accounting for stock-based compensation. iii. Business combinations In January 2017, the FASB issued new guidance to assist in determining if a set of assets and activities being acquired or sold is a business (“ASU 2017-01”). It also provided a framework to assist entities in evaluating whether both an input and a substantive process are present, which at a minimum, must be present to be considered a business. This update is effective for annual reporting periods beginning after December 15, 2017, and early adoption is permitted in most circumstances. It expects there could be an impact to how the Company accounts for assets acquired in the future.

Investments

Investments	3 Months Ended
	Feb. 28, 2017
Discontinued Operations and Disposal Groups [Abstract]
Disposition of Sunward Investments Ltd. [Text Block]	3. Investments On September 1, 2016, Trilogy completed the sale of Sunward Investments to GoldMining Inc. (“GMI”), formerly Brazil Resources Inc., 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 in thousands of dollars February 28, 2017 November 30, 2016 $ $ Current investments 5,869 7,538 Long-term investments 183 297 Investments 6,052 7,835 The fair value of the common shares is determined based on the closing price at each period end. The fair value of the BRI warrants is determined using the Black-Scholes option pricing model at each period end. During the three months ended February 28, 2017, the Company realized a gain on sale of $ 3 410,000 1.2

Plant and equipment

Plant and equipment	3 Months Ended
	Feb. 28, 2017
Property, Plant and Equipment [Abstract]
Plant and equipment [Text Block]	4. Plant and equipment February 28, 2017 Accumulated Cost amortization Net $ $ $ British Columbia, Canada Furniture and equipment 46 (35) 11 Leasehold improvements 32 (31) 1 Computer hardware and software 108 (98) 10 Alaska, USA Machinery, and equipment 2,921 (2,805) 116 Vehicles 348 (291) 57 Computer hardware and software 31 (31) - 3,486 (3,290) 195 in thousands of dollars November 30, 2016 Accumulated Cost amortization 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 2921 (2,798) 123 Vehicles 348 (285) 63 Computer hardware and software 31 (31) - 3,486 (3,271) 215

Mineral properties and developm

Mineral properties and development costs	3 Months Ended
	Feb. 28, 2017
Mineral Industries Disclosures [Abstract]
Mineral properties and development costs [Text Block]	5. Mineral properties and development costs November 30, 2016 Acquisition costs February 28, 2017 $ $ $ Alaska, USA Ambler (a) 26,586 - 26,586 Bornite (b) 4,000 - 4,000 30,586 - 30,586 in thousands of dollars 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 (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 noted periods. Three months ended February 28, Three months ended February 29, 2017 2016 $ $ Alaska, USA Community 56 55 Engineering 269 173 Environmental - 8 Geochemistry and geophysics - 12 Land and permitting 104 98 Project support 47 39 Wages and benefits 163 147 Mineral property expense 639 532 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 February 28, 2017 is $ 63.6 30.6 94.2

Accounts payable and accrued li

Accounts payable and accrued liabilities	3 Months Ended
	Feb. 28, 2017
Accounts Payable and Accrued Liabilities [Abstract]
Accounts payable and accrued liabilities [Text Block]	6. Accounts payable and accrued liabilities in thousands of dollars February 28, 2017 November 30, 2016 $ $ Trade accounts payable 89 160 Accrued liabilities 249 281 Accrued salaries and vacation 83 152 Accounts payable and accrued liabilities 421 593

Share capital

Share capital	3 Months Ended
	Feb. 28, 2017
Equity [Abstract]
Share capital [Text Block]	7. Share capital Authorized: unlimited common shares, no par value Ascribed value Number of shares $ 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 105,286,469 136,357 Exercise of options 24,594 9 Restricted Share Units 209,198 83 February 28, 2017, issued and outstanding 105,520,261 136,449 On April 30, 2012, under the NovaGold Arrangement, Trilogy committed to issue up to 6,181,352 20,685 3,447 66,664 (a) Stock options During the period ended February 28, 2017, 1,595,000 1,785,000 0.70 0.44 0.22 For the period ended February 28, 2017, Trilogy recognized a stock-based compensation charge of $ 0.22 0.18 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. February 28, 2017 Risk-free interest rates 0.91 % Exercise price CDN$0.70 Expected life 3.0 years Expected volatility 74.2 % Expected dividends Nil As of February 28, 2017, there were 1,425,009 0.44 0.2 February 28, 2017 Weighted average exercise Number of options $ Balance – beginning of period 6,049,433 0.50 Granted 1,595,000 0.53 Exercised (71,666) 0.34 Forfeited (63,335) 0.35 Balance – end of period 7,509,432 0.52 Outstanding Exercisable Unvested Weighted average exercise price Weighted average exercise price Range of price Number of outstanding options Weighted average years to expiry $ Number of exercisable options $ Number of unvested options $0.33 to $0.50 4,564,432 3.46 0.39 3,852,762 0.39 711,670 $0.51 to $1.00 2,890,000 3.78 0.70 2,176,661 0.76 713,339 $1.01 to $1.49 55,000 1.17 1.49 55,000 1.49 - 7,509,432 3.57 0.52 6,084,423 0.53 1,425,009 The aggregate intrinsic value of vested share options (the market value less the exercise price) at February 28, 2017 was $ 0.2 0.01 0.01 (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. February 28, 2017 Weighted average exercise price Number of options $ Balance – beginning of period 312,195 4.28 Expired (245,531) 4.45 Balance – end of period 66,664 3.83 Outstanding and exercisable Weighted average exercise price Range of price Number of outstanding options Weighted average years to expiry $ $2.78 to $3.99 49,998 0.08 2.94 $4.00 to $5.99 - - - $6.00 to $6.48 16,666 0.25 6.51 66,664 0.12 3.83 The aggregate intrinsic value of vested NovaGold Arrangement Options (the market value less the exercise price) at February 28, 2017 was $nil (February 29, 2016 - $nil). (c) 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. Number of RSUs Number of DSUs Balance – beginning of period 400,001 925,390 Granted 600,000 33,258 Vested/paid (399,999) - Balance – end of period 600,002 958,648 For the three months ended February 28, 2017, Trilogy recognized a stock-based compensation charge of $ 0.17 0.10 On December 15, 2016, 600,000 399,999 209,198 90,000 (d) Share Purchase Warrants Weighted average exercise price Number of Warrants Weighted average years to expiry $ Balance – beginning of period 6,521,740 2.60 1.60 Balance – end of period 6,521,740 2.60 1.60

Financial instruments

Financial instruments	3 Months Ended
	Feb. 28, 2017
Financial Instruments [Abstract]
Financial instruments [Text Block]	8. 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. (a) 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 and Canada. The Company’s exposure to currency risk at February 28, 2017 is limited to the Canadian dollar consisting of cash of CDN$ 1,364,000 27,000 147,000 8,038,000 348,000 10 632,000 (b) 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. (c) 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 421 421 - - - Office lease (note 9) 1,340 115 167 543 515 1,761 536 167 543 515 On February 21, 2017, the Company entered into a lease for office space effective July 1, 2017 for a period of seven years with a total commitment of $ 1.3 (d) 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 February 28, 2017, a 1 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 February 28, 2017 November 30, 2016 $ $ Level 1 Level 2 Level 3 Level 1 Level 2 Level 3 Current investments – shares 5,869 - - 7,538 - - Investments – warrants - - 183 - - 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.

Commitment

Commitment	3 Months Ended
	Feb. 28, 2017
Commitments and Contingencies Disclosure [Abstract]
Commitment [Text Block]	9. Commitment in thousands of dollars February 28, 2017 $ 2017 115 2018 167 2019 173 2020 181 2021 189 2022-2024 515 Total 1,340

Summary of Significant Accoun16

Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Feb. 28, 2017
Accounting Policies [Abstract]
Basis of presentation [Policy Text Block]	Basis of presentation These consolidated financial statements 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 The unaudited interim consolidated financial statements include all adjustments of a normal recurring nature necessary for the fair presentation of our financial position as of February 28, 2017, our results of operations and cash flows for the three months ended February 28, 2017, and February 29, 2016. The results of operations for the three months ended February 28, 2017 are not necessarily indicative of the results to be expected for the year ending November 30, 2017. As these interim consolidated financial statements do not contain all of the disclosures required by U.S. GAAP for annual financial statements, these unaudited interim consolidated financial statements should be read in conjunction with the annual financial statements and related notes included in our Annual Report on Form 10-K for the fiscal year ended November 30, 2016 filed with the U.S. Securities and Exchange Commission (“SEC”) on February 3, 2017. These financial statements were approved by the Company’s Audit Committee on behalf of the Board of Directors for issue on April 3, 2017.
Recent accounting pronouncements [Policy Text Block]	Recent accounting pronouncements i. 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, specifically our office 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. ii. 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. The Company has analyzed the impact of the update and determined that the simplification applied to accounting for forfeitures will affect the results of operations and financial position as it will alter the timing of recognition of forfeitures. The Company is currently considering its policy choice. The remaining changes in the update do not have an effect on the Company’s accounting for stock-based compensation. iii. Business combinations In January 2017, the FASB issued new guidance to assist in determining if a set of assets and activities being acquired or sold is a business (“ASU 2017-01”). It also provided a framework to assist entities in evaluating whether both an input and a substantive process are present, which at a minimum, must be present to be considered a business. This update is effective for annual reporting periods beginning after December 15, 2017, and early adoption is permitted in most circumstances. It expects there could be an impact to how the Company accounts for assets acquired in the future.

Investments (Tables)

Investments (Tables)	3 Months Ended
	Feb. 28, 2017
Discontinued Operations and Disposal Groups [Abstract]
Marketable Securities [Table Text Block]	The common shares and warrants received have been designated as held-for-trading financial assets, with the classification as current investments and long-term investments, respectively. in thousands of dollars February 28, 2017 November 30, 2016 $ $ Current investments 5,869 7,538 Long-term investments 183 297 Investments 6,052 7,835

Plant and equipment (Tables)

Plant and equipment (Tables)	3 Months Ended
	Feb. 28, 2017
Property, Plant and Equipment [Abstract]
Schedule of Plant and Equipment [Table Text Block]	in thousands of dollars February 28, 2017 Accumulated Cost amortization Net $ $ $ British Columbia, Canada Furniture and equipment 46 (35) 11 Leasehold improvements 32 (31) 1 Computer hardware and software 108 (98) 10 Alaska, USA Machinery, and equipment 2,921 (2,805) 116 Vehicles 348 (291) 57 Computer hardware and software 31 (31) - 3,486 (3,290) 195 in thousands of dollars November 30, 2016 Accumulated Cost amortization 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 2921 (2,798) 123 Vehicles 348 (285) 63 Computer hardware and software 31 (31) - 3,486 (3,271) 215

Mineral properties and develo19

Mineral properties and development costs (Tables)	3 Months Ended
	Feb. 28, 2017
Mineral Industries Disclosures [Abstract]
Schedule of Mineral Properties and Development Costs [Table Text Block]	in thousands of dollars November 30, 2016 Acquisition costs February 28, 2017 $ $ $ Alaska, USA Ambler (a) 26,586 - 26,586 Bornite (b) 4,000 - 4,000 30,586 - 30,586 in thousands of dollars 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 (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]	Three months ended February 28, Three months ended February 29, 2017 2016 $ $ Alaska, USA Community 56 55 Engineering 269 173 Environmental - 8 Geochemistry and geophysics - 12 Land and permitting 104 98 Project support 47 39 Wages and benefits 163 147 Mineral property expense 639 532

Accounts payable and accrued 20

Accounts payable and accrued liabilities (Tables)	3 Months Ended
	Feb. 28, 2017
Accounts Payable and Accrued Liabilities [Abstract]
Schedule of Accounts Payable and Accrued Liabilities [Table Text Block]	in thousands of dollars February 28, 2017 November 30, 2016 $ $ Trade accounts payable 89 160 Accrued liabilities 249 281 Accrued salaries and vacation 83 152 Accounts payable and accrued liabilities 421 593

Share capital (Tables)

Share capital (Tables)	3 Months Ended
	Feb. 28, 2017
Equity [Abstract]
Schedule of Common Shares Issued and Outstanding [Table Text Block]	in thousands of dollars, except share amounts Ascribed value Number of shares $ 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 105,286,469 136,357 Exercise of options 24,594 9 Restricted Share Units 209,198 83 February 28, 2017, issued and outstanding 105,520,261 136,449
Schedule of Stock Options, Valuation Assumptions [Table Text Block]	February 28, 2017 Risk-free interest rates 0.91 % Exercise price CDN$0.70 Expected life 3.0 years Expected volatility 74.2 % Expected dividends Nil
Schedule of Stock Options Activity [Table Text Block]	A summary of the Company’s stock option plan and changes during the period ended is as follows: February 28, 2017 Weighted average exercise Number of options $ Balance – beginning of period 6,049,433 0.50 Granted 1,595,000 0.53 Exercised (71,666) 0.34 Forfeited (63,335) 0.35 Balance – end of period 7,509,432 0.52
Schedule of Disclosure of Stock Options Outstanding [Table Text Block]	The following table summarizes information about the stock options outstanding at February 28, 2017. Outstanding Exercisable Unvested Weighted average exercise price Weighted average exercise price Range of price Number of outstanding options Weighted average years to expiry $ Number of exercisable options $ Number of unvested options $0.33 to $0.50 4,564,432 3.46 0.39 3,852,762 0.39 711,670 $0.51 to $1.00 2,890,000 3.78 0.70 2,176,661 0.76 713,339 $1.01 to $1.49 55,000 1.17 1.49 55,000 1.49 - 7,509,432 3.57 0.52 6,084,423 0.53 1,425,009
Schedule of NovaGold Arrangement Options Activity [Table Text Block]	A summary of the NovaGold Arrangement Options and changes during the period ended is as follows: February 28, 2017 Weighted average exercise price Number of options $ Balance – beginning of period 312,195 4.28 Expired (245,531) 4.45 Balance – end of period 66,664 3.83
Schedule of NovaGold Arrangement Stock Options Outstanding [Table Text Block]	The following table summarizes information about the NovaGold Arrangement Options outstanding at February 28, 2017. Outstanding and exercisable Weighted average exercise price Range of price Number of outstanding options Weighted average years to expiry $ $2.78 to $3.99 49,998 0.08 2.94 $4.00 to $5.99 - - - $6.00 to $6.48 16,666 0.25 6.51 66,664 0.12 3.83
Schedule Of Sunward Arrangement Stock Options Outstanding [Table Text Block]	A summary of the Company’s unit plans and changes during the period ended is as follows: Number of RSUs Number of DSUs Balance – beginning of period 400,001 925,390 Granted 600,000 33,258 Vested/paid (399,999) - Balance – end of period 600,002 958,648
Schedule of Warrants, Activity [Table Text Block]	A summary of the Company’s warrants and changes during the three months ended February 28, 2017 is as follows: Weighted average exercise price Number of Warrants Weighted average years to expiry $ Balance – beginning of period 6,521,740 2.60 1.60 Balance – end of period 6,521,740 2.60 1.60

Financial instruments (Tables)

Financial instruments (Tables)	3 Months Ended
	Feb. 28, 2017
Financial Instruments [Abstract]
Contractual Obligation, Fiscal Year Maturity Schedule [Table Text Block]	Contractually obligated cash flow requirements as at February 28, 2017 are as follows. in thousands of dollars Total <1 Year 1–2 Years 2–5 Years Thereafter $ $ $ $ $ Accounts payable and accrued liabilities 421 421 - - - Office lease (note 9) 1,340 115 167 543 515 1,761 536 167 543 515
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 February 28, 2017 November 30, 2016 $ $ Level 1 Level 2 Level 3 Level 1 Level 2 Level 3 Current investments – shares 5,869 - - 7,538 - - Investments – warrants - - 183 - - 297

Commitment (Tables)

Commitment (Tables)	3 Months Ended
	Feb. 28, 2017
Commitments and Contingencies Disclosure [Abstract]
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 February 28, 2017 $ 2017 115 2018 167 2019 173 2020 181 2021 189 2022-2024 515 Total 1,340

Summary of significant accoun24

Summary of significant accounting policies (Narrative) (Details)	Jun. 19, 2015
Sunward Resources Ltd. [Member]
Mineral Property Right Ownership Percentage	100.00%

Investments (Narrative) (Detail

Investments (Narrative) (Details) $ in Thousands	3 Months Ended
	Feb. 28, 2017USD ($)shares	Feb. 28, 2017CADshares	Feb. 29, 2016USD ($)
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
Business Acquisition, Equity Interest Issued or Issuable, Value Assigned	$ 7,800
Gain (Loss) on Disposition of Stock in Subsidiary	$ 3
Sale of Stock, Number of Shares Issued in Transaction | shares	410,000	410,000
Trading Securities, Unrealized Holding Gain	$ (1,239)		$ 0
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

Investments (Schedule Of Design

Investments (Schedule Of Designated As Held-For-Trading Financial Assets) (Details) - USD ($) $ in Thousands	Feb. 28, 2017	Nov. 30, 2016
Current investments	$ 5,869	$ 7,538
Long-term investments	183	297
Investments	$ 6,052	$ 7,835

Schedule of Plant and Equipment

Schedule of Plant and Equipment (Details) - USD ($) $ in Thousands	Feb. 28, 2017	Nov. 30, 2016
Cost	$ 3,486	$ 3,486
Accumulated amortization	(3,290)	(3,271)
Net	195	215
Furniture and equipment [Member] | British Columbia, Canada [Member]
Cost	46	46
Accumulated amortization	(35)	(33)
Net	11	13
Leasehold improvements [Member] | British Columbia, Canada [Member]
Cost	32	32
Accumulated amortization	(31)	(28)
Net	1	4
Machinery and equipment [Member] | Alaska, USA [Member]
Cost	2,921	2,921
Accumulated amortization	(2,805)	(2,798)
Net	116	123
Vehicles [Member] | Alaska, USA [Member]
Cost	348	348
Accumulated amortization	(291)	(285)
Net	57	63
Computer hardware and software [Member] | British Columbia, Canada [Member]
Cost	108	108
Accumulated amortization	(98)	(96)
Net	10	12
Computer hardware and software [Member] | Alaska, USA [Member]
Cost	31	31
Accumulated amortization	(31)	(31)
Net	$ 0	$ 0

Mineral properties and develo28

Mineral properties and development costs (Narrative) (Details) - USD ($) $ in Thousands	Jan. 11, 2010	Oct. 31, 2011	Oct. 19, 2011	Feb. 28, 2017	Feb. 29, 2016	Feb. 28, 2017
Acquisition costs				$ 0
Mineral properties expense				$ 639	$ 532
Approximations
Payments for mineral property						$ 94,200
Acquisition costs						30,600
Mineral properties expense						$ 63,600
Bornite Property [Member]
Payments for mineral property		$ 4,000
Net proceeds royalty			15.00%
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 Mineral Properties

Schedule of Mineral Properties and Development Costs (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Feb. 28, 2017	Nov. 30, 2016		Nov. 30, 2015
Acquisition costs	$ 0
Mineral properties and development costs	30,586	$ 30,586		$ 30,586
Ambler Propertyss [Member] | Alaska, USA [Member]
Acquisition costs	0	0	[1]
Mineral properties and development costs	26,586	26,586		26,586	[1]
Bornite Propertys [Member] | Alaska, USA [Member]
Acquisition costs	0	0	[2]
Mineral properties and development costs	$ 4,000	$ 4,000		$ 4,000	[2]
[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. 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	3 Months Ended
	Feb. 28, 2017	Feb. 29, 2016
Mineral property expense	$ 639	$ 532
Alaska, USA [Member]
Community	56	55
Engineering	269	173
Environmental	0	8
Geochemistry and geophysics	0	12
Land and permitting	104	98
Project support	47	39
Wages and benefits	163	147
Mineral property expense	$ 639	$ 532

Schedule of Accounts Payable an

Schedule of Accounts Payable and Accrued Liabilities (Details) - USD ($) $ in Thousands	Feb. 28, 2017	Nov. 30, 2016
Trade accounts payable	$ 89	$ 160
Accrued liabilities	249	281
Accrued salaries and vacation	83	152
Accounts payable and accrued liabilities	$ 421	$ 593

Share capital (Narrative) (Deta

Share capital (Narrative) (Details)	Dec. 15, 2016shares	Dec. 23, 2016USD ($)shares	Feb. 28, 2017USD ($)$ / sharesshares	Feb. 28, 2017USD ($)$ / sharesCAD / sharesshares	Feb. 29, 2016USD ($)shares	Feb. 29, 2016USD ($)CAD / shares	Nov. 30, 2016$ / sharesshares	Apr. 30, 2012shares
Stock options granted, weighted average exericse price | CAD / shares				CAD 0.70		CAD 0.44
Stock-based compensation | $			$ 395,000		$ 282,000
Non-vested stock options outstanding			7,509,432	7,509,432
Weighted average exercise price options outstanding | $ / shares			$ 0.52	CAD 0.52
Units vested		399,999
Stock Issued During Period, Shares, Restricted Stock Award, Net of Forfeitures		209,198
Aggregate intrinsic value, vested options | $			$ 200,000	CAD 200,000	10,000	CAD 10,000
Aggregate intrinsic value, options exercised | $			$ 10,000		0
Cash paid upon vesting | $		$ 90,000
Maximum [Member]
Vesting terms			2 years
Minimum [Member]
Vesting terms			0 years
Non-Vested Options [Member]
Non-vested stock options outstanding			1,425,009	1,425,009
Weighted average exercise price options outstanding | $ / shares			$ 0.44	CAD 0.44
Number of RSU's [Member]
Granted	600,000		600,000
Number of DSU's [Member]
Common stock committed for issuance			20,685	20,685
Granted			33,258
Class of Warrant or Right, Number of Securities Called by Warrants or Rights			3,447	3,447
Stock-based Compensation [Member]
Stock-based compensation | $			$ 170,000		100,000
NovaGold Arrangement Options [Member]
Non-vested stock options outstanding			66,664	66,664			312,195
Weighted average exercise price options outstanding | $ / shares			$ 3.83	CAD 3.83			$ 4.28
Aggregate intrinsic value, vested options | $			$ 0	CAD 0	$ 0	CAD 0
Plan of Arrangement [Member]
Common stock committed for issuance								6,181,352
Approximationss [Member] | Non-Vested Options [Member]
Stock option expense | $			$ 200,000
New Employees [Member]
Stock options granted			1,595,000		1,785,000
Stock options granted, weighted average exercise price | $ / shares			$ 0.22
Directors, Employees and Services Providers [Member]
Stock-based compensation | $			$ 220,000		$ 180,000

Schedule of Common Shares Issue

Schedule of Common Shares Issued and Outstanding (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Feb. 28, 2017	Nov. 30, 2016
Number of Common Shares	105,286,469	104,796,421
Ascribed Value Common Shares	$ 136,357	$ 136,040
Exercise of options (shares)	24,594	162,854
Exercise of options	$ 9	$ 65
Restricted Share Units (Shares)	209,198	108,399
Restricted Share Units	$ 83	$ 34
Deferred Share Units (Shares)		218,795
Deferred Share Units		$ 218
Number of Common Shares	105,520,261	105,286,469
Ascribed Value Common Shares	$ 136,449	$ 136,357

Schedule of Stock Options, Valu

Schedule of Stock Options, Valuation Assumptions (Details)	3 Months Ended
	Feb. 28, 2017CAD / shares
Risk-free interest rates	0.91%
Exercise price	CAD 0.70
Expected life	3 years
Expected volatility	74.20%
Expected dividends	0.00%

Schedule of Stock Options Activ

Schedule of Stock Options Activity (Details)	3 Months Ended
	Feb. 28, 2017$ / sharesshares	Feb. 28, 2017CAD / sharesshares	Feb. 29, 2016CAD / shares
Stock options, weighted average exercise price | CAD / shares		CAD 0.70	CAD 0.44
Balance - End of Period, Number of stock options | shares	7,509,432	7,509,432
Balance - End of Period, Weighted average exercise price | $ / shares	$ 0.52
Employee Stock Option [Member]
Balance - Beginning of Period, Number of stock Options | shares	6,049,433	6,049,433
Balance - Beginning of Period, Weighted average exercise price | $ / shares	$ 0.5
Stock options granted | shares	1,595,000	1,595,000
Stock options, weighted average exercise price | $ / shares	$ 0.53
Exercise of options (Shares) | shares	(71,666)	(71,666)
Stock options, weighted average exercise price, exercised | $ / shares	$ 0.34
Stock options, number of options forfeited during the period | shares	(63,335)	(63,335)
Stock options, weighted average exercise price of forfeitures | $ / shares	$ 0.35
Balance - End of Period, Number of stock options | shares	7,509,432	7,509,432
Balance - End of Period, Weighted average exercise price | $ / shares	$ 0.52

Schedule of Disclosure of Stock

Schedule of Disclosure of Stock Options Outstanding (Details)	3 Months Ended
	Feb. 28, 2017$ / sharesshares
Number of outstanding options | shares	7,509,432
Weighted average years to expiry	3 years 6 months 25 days
Weighted average exercise price options outstanding	$ 0.52
Number of exercisable options | shares	6,084,423
Weighted average exercise price	$ 0.53
Number of unvested options | shares	1,425,009
Range 1 [Member]
Exercise price lower range limit	$ 0.33
Exercise price upper range limit	$ 0.50
Number of outstanding options | shares	4,564,432
Weighted average years to expiry	3 years 5 months 16 days
Weighted average exercise price options outstanding	$ 0.39
Number of exercisable options | shares	3,852,762
Weighted average exercise price	$ 0.39
Number of unvested options | shares	711,670
Range 2 [Member]
Exercise price lower range limit	$ 0.51
Exercise price upper range limit	$ 1
Number of outstanding options | shares	2,890,000
Weighted average years to expiry	3 years 9 months 11 days
Weighted average exercise price options outstanding	$ 0.70
Number of exercisable options | shares	2,176,661
Weighted average exercise price	$ 0.76
Number of unvested options | shares	713,339
Range 3 [Member]
Exercise price lower range limit	$ 1.01
Exercise price upper range limit	$ 1.49
Number of outstanding options | shares	55,000
Weighted average years to expiry	1 year 2 months 1 day
Weighted average exercise price options outstanding	$ 1.49
Number of exercisable options | shares	55,000
Weighted average exercise price	$ 1.49
Number of unvested options | shares	0

Schedule of NovaGold Arrangemen

Schedule of NovaGold Arrangement Options Activity (Details)	3 Months Ended
	Feb. 28, 2017$ / sharesshares
Balance - End of Period, Number of stock options | shares	7,509,432
Balance - End of Period, Weighted average exercise price | $ / shares	$ 0.52
NovaGold Arrangement Options [Member]
Balance - Beginning of Period, Number of stock Options | shares	312,195
Balance - Beginning of Period, Weighted average exercise price | $ / shares	$ 4.28
Stock options, number of options expired | shares	(245,531)
Stock options, weighted average exercise price, stock options expired | $ / shares	$ 4.45
Balance - End of Period, Number of stock options | shares	66,664
Balance - End of Period, Weighted average exercise price | $ / shares	$ 3.83

Schedule of NovaGold Arrangem38

Schedule of NovaGold Arrangement Stock Options Outstanding (Details) - $ / shares	3 Months Ended
	Feb. 28, 2017	Nov. 30, 2016
Number of outstanding options	7,509,432
Weighted average exercise price options outstanding	$ 0.52
NovaGold Arrangement Options [Member]
Weighted average years to expiry	1 month 13 days
Number of outstanding options	66,664	312,195
Weighted average exercise price options outstanding	$ 3.83	$ 4.28
NovaGold Arrangement Range 1 [Member] | NovaGold Arrangement Options [Member]
Exercise price lower range limit	2.78
Exercise price upper range limit	$ 3.99
Weighted average years to expiry	29 days
Number of outstanding options	49,998
Weighted average exercise price options outstanding	$ 2.94
NovaGold Arrangement Range 2 [Member] | NovaGold Arrangement Options [Member]
Exercise price lower range limit	4
Exercise price upper range limit	$ 5.99
Weighted average years to expiry	0 years
Number of outstanding options	0
Weighted average exercise price options outstanding	$ 0
NovaGold Arrangement Range 3 [Member] | NovaGold Arrangement Options [Member]
Exercise price lower range limit	6
Exercise price upper range limit	$ 6.48
Weighted average years to expiry	3 months
Number of outstanding options	16,666
Weighted average exercise price options outstanding	$ 6.51

Schedule of Unit Plans and Chan

Schedule of Unit Plans and Changes Activity (Details) - shares	Dec. 15, 2016	Feb. 28, 2017
Number of RSU's [Member]
Balance-beginning of period	400,001	400,001
Granted	600,000	600,000
Vested/paid		(399,999)
Balance-end of period		600,002
Number of DSU's [Member]
Balance-beginning of period	925,390	925,390
Granted		33,258
Vested/paid		0
Balance-end of period		958,648

Schedule of Warrants, Activity

Schedule of Warrants, Activity (Details) - $ / shares	3 Months Ended	12 Months Ended
	Feb. 28, 2017	Nov. 30, 2016
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	$ 1.6	$ 1.6
Balance - end of period	6,521,740	6,521,740

Financial instruments (Narrativ

Financial instruments (Narrative) (Details)	3 Months Ended
	Feb. 28, 2017USD ($)	Feb. 28, 2017CAD	Feb. 21, 2017USD ($)	Nov. 30, 2016USD ($)
Accounts receivable	$ 30,000			$ 47,000
Deposits and prepaid amounts	$ 574,000			724,000
Change in interest rate	1.00%
Interest rate loss	$ 100,000
Investments	6,052,000			$ 7,835,000
Lease commitment	$ 1,761,000		$ 1,300,000
Canadian Limit Due to Currency Risk [Member]
Cash | CAD		CAD 1,364,000
Accounts receivable | CAD		27,000
Deposits and prepaid amounts | CAD		147,000
Accounts payable | CAD		CAD 348,000
Change in foreign exchange rate	10.00%	10.00%
Foreign currency net loss	$ 632,000
Investments | CAD		CAD 8,038,000

Schedule of Contractually Oblig

Schedule of Contractually Obligated Cash Flow Requirements (Details) - USD ($) $ in Thousands	Feb. 28, 2017	Feb. 21, 2017
Total	$ 1,761	$ 1,300
Within 1 Year	536
1 - 2 Years	167
2 - 5 Years	543
Thereafter	515
Accounts Payable and Accrued Liabilities
Total	421
Within 1 Year	421
1 - 2 Years	0
2 - 5 Years	0
Thereafter	0
Office Lease [Member]
Total	1,340
Within 1 Year	115
1 - 2 Years	167
2 - 5 Years	543
Thereafter	$ 515

Schedule of financial assets an

Schedule of financial assets and liabilities that are measured and recognized at fair value (Details) - USD ($) $ in Thousands	Feb. 28, 2017	Nov. 30, 2016
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	5,869	7,538
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	183	297
Fair Value, Inputs, Level 3 [Member] | Equity Securities [Member]
Investments, Fair Value Disclosure	$ 0	$ 0

Schedule of Future Minimum Leas

Schedule of Future Minimum Lease Payments (Details) $ in Thousands	Feb. 28, 2017USD ($)
2,017	$ 115
2,018	167
2,019	173
2,020	181
2,021	189
2022-2024	515
Total	$ 1,340