Trilogy Metals (TMQ) 10-Q 5 Oct 17 2017 Q3 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	9 Months Ended
	Aug. 31, 2017	Oct. 04, 2017
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Aug. 31, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q3
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		105,674,303

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Aug. 31, 2017	Nov. 30, 2016
Current assets
Cash and cash equivalents	$ 10,205	$ 7,340
Accounts receivable	341	47
Deposits and prepaid amounts	864	724
Current investments (note 3)	4,571	7,538
Total Current Assets	15,981	15,649
Investments (note 3)	81	297
Plant and equipment	399	215
Mineral properties and development costs (note 4)	30,587	30,586
Total Assets	47,048	46,747
Current liabilities
Accounts payable and accrued liabilities (note 5)	4,759	593
Total Current Liabilities	4,759	593
Mineral properties purchase option (note 4)	10,000	0
Total Liabilities	14,759	593
Shareholders’ equity
Share capital (note 6) - unlimited common shares authorized, no par value; Issued -105,667,125 (2016 - 105,286,469)	136,494	136,357
Warrants (note 6(d))	2,163	2,163
Contributed surplus	124	124
Contributed surplus - options (note 6(a, b))	18,392	18,134
Contributed surplus - units (note 6(c))	1,258	1,140
Deficit	(126,142)	(111,764)
Total Stockholders' Equity	32,289	46,154
Total Liabilities and Stockholders' Equity	$ 47,048	$ 46,747

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	9 Months Ended	12 Months Ended
	Aug. 31, 2017	Nov. 30, 2016
Common Stock, Shares Authorized, Unlimited	Unlimited	Unlimited
Common Stock, No Par Value
Common Stock, Shares, Issued	105,667,125	105,286,469

Consolidated Statements of Loss

Consolidated Statements of Loss and Comprehensive Loss - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Aug. 31, 2017	Aug. 31, 2016	Aug. 31, 2017	Aug. 31, 2016
Expenses
Amortization	$ 27	$ 17	$ 66	$ 59
Foreign exchange (gain) loss	(592)	3	(542)	8
General and administrative	273	311	1,050	1,030
Investor relations	107	30	263	80
Mineral properties expense (note 4(d))	8,471	3,077	10,407	4,067
Professional fees	86	84	404	430
Salaries	218	250	683	719
Salaries - stock-based compensation	104	146	603	544
Total expenses	8,694	3,918	12,934	6,937
Other items
Unrealized loss on held for trading investments	83	0	1,252	0
Loss on sale of investments	230	0	230	0
Loss on disposal of equipment	8	0	8	0
Interest and other income	(23)	(16)	(46)	(52)
Loss from continuing operations for the period	8,992	3,902	14,378	6,885
Loss from discontinued operations	0	353	0	712
Loss from discontinued operations for the period	0	353	0	712
Loss and comprehensive loss for the period	$ 8,992	$ 4,255	$ 14,378	$ 7,597
Basic and diluted loss per common share	$ 0.09	$ 0.04	$ 0.14	$ 0.07
Weighted average number of common shares outstanding	105,581,406	105,213,320	105,524,598	105,046,854

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
Exercise of options	0	$ 56	0	0	(56)	0	0
Exercise of options (Shares)		143,889
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	544	$ 0	0	0	326	218	0
Loss for the period	(7,597)	0	0	0	0	0	(7,597)
Ending Balance at Aug. 31, 2016	43,348	$ 136,348	2,163	124	18,111	1,101	(114,499)
Ending Balance (Shares) at Aug. 31, 2016		105,267,504
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	$ 54	0	0	(54)	0	0
Exercise of options (Shares)		171,458
Restricted Share Units	(90)	$ 83	0	0	0	(173)	0
Restricted Share Units (Shares)		209,198
Stock-based compensation	603	$ 0	0	0	312	291	0
Loss for the period	(14,378)	0	0	0	0	0	(14,378)
Ending Balance at Aug. 31, 2017	$ 32,289	$ 136,494	$ 2,163	$ 124	$ 18,392	$ 1,258	$ (126,142)
Ending Balance (Shares) at Aug. 31, 2017		105,667,125

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Aug. 31, 2017	Aug. 31, 2016
Cash flows used in operating activities
Loss for the period	$ (14,378)	$ (7,597)
Items not affecting cash
Amortization	66	154
Loss on disposal of equipment	8	0
Loss on sale of held for trading investments	172	0
Unrealized loss on held for trading investments	1,252	0
Unrealized foreign exchange gain	(472)	0
Stock-based compensation	603	514
Net change in non-cash working capital
Increase in accounts receivable	(294)	(23)
(Increase)/decrease in deposits and prepaid amounts	(140)	132
Increase in accounts payable and accrued liabilities	4,116	104
Net Cash Provided by (Used in) Operating Activities	(9,067)	(6,716)
Cash flows from (used in) financing activities
Settlement of Restricted Share Units	(90)	0
Net Cash Provided by (Used in) Financing Activities	(90)	0
Cash flows from (used in) investing activities
Acquisition of plant & equipment	(209)	(121)
Mineral properties funding (note 4)	10,000	0
Proceeds from the sale of investments, net of fees	2,180	0
Net Cash Provided by (Used in) Investing Activities	11,971	(121)
Increase (decrease) in cash and cash equivalents	2,814	(6,837)
Effect of exchange rate on cash and cash equivalents	51	0
Cash and cash equivalents - beginning of period	7,340	16,139
Cash and cash equivalents - end of period	10,205	9,302
Less cash and cash equivalents of discontinued operations - end of period	0	(75)
Cash and cash equivalents of continuing operations - end of period	$ 10,205	$ 9,227

Nature of operations

Nature of operations	9 Months Ended
	Aug. 31, 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”, the “Company”, or “we”) was incorporated in British Columbia under the Business Corporations Act (BC)

Summary of significant accounti

Summary of significant accounting policies	9 Months Ended
	Aug. 31, 2017
Accounting Policies [Abstract]
Summary of significant accounting policies [Text Block]	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., doing business as Trilogy Metals US (“Trilogy Metals US”). These consolidated financial statements included 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, inclusive. 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 The Company classified the operations of Sunward Investments as discontinued operations, retrospectively. All figures are in United States dollars unless otherwise noted. References to CDN$ refer to amounts in Canadian dollars. 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 August 31, 2017, our results of operations for the three months and nine months ended August 31, 2017 and 2016 and our cash flows for the nine months ended August 31, 2017 and 2016. The results of operations for the three and nine months ended August 31, 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 October 4, 2017. Recent accounting pronouncements i. Statement of cash flows In November 2016, the FASB issued guidance regarding the presentation of restricted cash in the statement of cash flows (“ASU 2016-18”). This update is effective for annual reporting periods beginning after December 15, 2017, and early adoption is permitted. The Company has analyzed the impact of the update and determined that the clarification will not affect the Company’s presentation on its statement of cash flows. The Company early adopted the standard in the second quarter of 2017. As there was no impact on the Company’s statement of cash flows, there were no changes as a result of adopting the standard. 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, 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. 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. 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. iv. 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	9 Months Ended
	Aug. 31, 2017
Discontinued Operations and Disposal Groups [Abstract]
Disposition of Sunward Investments Ltd. [Text Block]	Investments On September 1, 2016, Trilogy completed the sale 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 August 31, 2017 November 30, 2016 Current investments 4,571 7,538 Long-term investments 81 297 Investments 4,652 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 nine months ended August 31, 2017, the Company sold 1,519,000 2.2 0.2 1.3

Mineral properties and developm

Mineral properties and development costs	9 Months Ended
	Aug. 31, 2017
Mineral Industries Disclosures [Abstract]
Mineral properties and development costs [Text Block]	Mineral properties and development costs November 30, 2016 Acquisition costs August 31, 2017 Alaska, USA Ambler (a) 26,586 1 26,587 Bornite (b) 4,000 - 4,000 30,586 1 30,587 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 Trilogy Metals US through a purchase and sale agreement with AGC. On October 24, 2011, NovaGold transferred its ownership of Trilogy Metals 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, Trilogy Metals 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, Trilogy Metals US paid $ 4 16 25 15 40 NANA would also be granted a net smelter return royalty of between 1 2.5 (c) Option Agreement On April 10, 2017, Trilogy and Trilogy Metals US entered into an Option Agreement to Form a Joint Venture with South32 Group Operations Pty Ltd. (“South32”) on the UKMP (“Option Agreement”). Trilogy Metals US has granted South32 the right to form a 50/50 joint venture to hold all of Trilogy Metals US’ Alaskan assets. Upon exercise of the option, Trilogy Metals US will transfer its Alaskan assets, including the UKMP, and South32 will contribute a minimum of $ 150 5 To maintain the option in good standing, South32 is required to fund a minimum of $ 10 10 The Company received $ 10.0 2.7 As the initial option payments are credited against the future subscription price upon exercise, the Company has accounted for the payment received as deferred consideration. At such time as the option is exercised, the initial payments received to that date will be recognized as part of the consideration received for the Company’s contribution of the UKMP into the JV LLC. If South 32 withdraws from the Option Agreement, the consideration will be recognized in the statement of loss at that time. The option to form the JV LLC is recognized as a financial instrument at inception of the arrangement with an initial fair value of $nil. This option is required to be re-measured at fair value at each reporting date with any changes in fair value recorded in loss for the period. (d) Mineral properties expense The following table summarizes mineral properties expense for the noted periods and includes expenditures funded by South32. In thousands of dollars Three months Three months Nine months Nine months Alaska, USA Community 67 63 201 184 Drilling 3,194 712 3,284 712 Engineering 1,085 191 1,508 410 Environmental 122 212 181 235 Geochemistry and geophysics 146 28 151 41 Land and permitting 215 113 667 322 Other income (26) (34) (26) (34) Project support 2,307 1,030 2,641 1,136 Wages and benefits 1,361 762 1,800 1,061 Mineral property expense 8,471 3,077 10,407 4,067 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 August 31, 2017 is $ 73.4 30.6 104.0

Accounts payable and accrued li

Accounts payable and accrued liabilities	9 Months Ended
	Aug. 31, 2017
Accounts Payable and Accrued Liabilities [Abstract]
Accounts payable and accrued liabilities [Text Block]	Accounts payable and accrued liabilities in thousands of dollars August 31, 2017 November 30, 2016 Trade accounts payable 2,179 160 Accrued liabilities 2,494 281 Accrued salaries and vacation 86 152 Accounts payable and accrued liabilities 4,759 593

Share capital

Share capital	9 Months Ended
	Aug. 31, 2017
Equity [Abstract]
Share capital [Text Block]	6 Share capital Authorized: unlimited common shares, no par value in thousands of dollars, except share amounts Number of shares Ascribed value 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 171,458 54 Restricted Share Units 209,198 83 August 31, 2017, issued and outstanding 105,667,125 136,494 On April 30, 2012, under the NovaGold Arrangement, Trilogy committed to issue common shares, once vested, to satisfy holders of deferred share units (“NovaGold DSUs”) on record as of the close of business April 27, 2012. When vested, Trilogy committed to deliver one common share to the holder for every six shares of NovaGold the holder is entitled to receive, rounded down to the nearest whole number. As of August 31, 2017, 20,685 3,447 (a) Stock options During the nine month period ended August 31, 2017, 1,695,000 1,785,000 0.72 0.44 0.22 For the nine month period ended August 31, 2017, Trilogy recognized a stock-based compensation charge of $ 0.31 0.33 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. August 31, 2017 Risk-free interest rates 0.89 % Exercise price CDN$0.72 Expected life 3.0 years Expected volatility 74.3 % Expected dividends Nil As of August 31, 2017, there were 1,405,843 0.48 0.1 August 31, 2017 Number of options Weighted average Balance – beginning of period 6,049,433 0.50 Granted 1,695,000 0.57 Exercised (362,477) 0.40 Forfeited (169,329) 0.50 Balance – end of period 7,212,627 0.56 Outstanding Exercisable Unvested Range of price Number of Weighted Weighted Number of Weighted Number of $0.35 to $0.50 4,267,627 2.95 0.41 3,588,457 0.42 679,170 $0.51 to $1.00 2,890,000 3.30 0.75 2,163,327 0.81 726,673 $1.01 to $1.47 55,000 0.67 1.59 55,000 1.59 - 7,212,627 3.07 0.56 5,806,784 0.58 1,405,843 The aggregate intrinsic value of vested share options (the market value less the exercise price) at August 31, 2017 was $ 2.8 0.49 0.15 0.09 (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 remaining expired during the nine months ended August 31, 2017. August 31, 2017 Number of options Weighted average Balance – beginning of period 312,195 4.26 Expired (312,195) 4.26 Balance – end of period - - (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 98,554 Vested/paid (399,999) - Balance – end of period 600,002 1,023,944 For the nine months ended August 31, 2017, Trilogy recognized a stock-based compensation charge of $ 0.29 0.22 On December 15, 2016, 600,000 399,999 209,198 90,000 (d) Share Purchase Warrants Number of Weighted Weighted Balance – beginning of period 6,521,740 2.35 1.60 Balance – end of period 6,521,740 1.85 1.60

Financial instruments

Financial instruments	9 Months Ended
	Aug. 31, 2017
Financial Instruments [Abstract]
Financial instruments [Text Block]	7 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. The South32 purchase option is a derivative financial liability measured at fair value with changes in 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 August 31, 2017 is limited to Canadian dollar balances consisting of cash of CDN$ 2,596,000 421,000 116,000 5,833,000 859,000 10 647,000 (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. Management does expect to monetize its investments held over the next year to assist in meeting its operational requirements. Future financings are anticipated through the sale of investments, equity financing, the exercise of mineral properties option, debt financing, convertible debt, or other means. in thousands of dollars Total < 1 Year 1–2 Years 2–5 Years Thereafter Accounts payable and accrued liabilities 4,759 4,759 - - - Office lease (note 8) 1,349 44 178 580 547 6,108 4,803 178 580 547 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 August 31, 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 Level 2 Level 3 in thousands of dollars August 31, 2017 November 30, 2016 Level 1 Level 2 Level 3 Level 1 Level 2 Level 3 Current investments – shares 4,571 - - 7,538 - - Investments – warrants - - 81 - - 297 South32 purchase option - - - - - - 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. The South32 purchase option received is recorded at fair value. As the inputs to valuing the purchase option are significant to the measurement of the option and are unobservable, it is considered a Level 3 financial instrument.

Commitments

Commitments	9 Months Ended
	Aug. 31, 2017
Commitments and Contingencies Disclosure [Abstract]
Commitment [Text Block]	Commitments The Company has commitments in respect of office leases requiring future minimum lease payments as follows: August 31, 2017 2017 44 2018 178 2019 184 2020 193 2021 203 2022-2024 547 Total 1,349

Summary of significant accoun15

Summary of significant accounting policies (Policies)	9 Months Ended
	Aug. 31, 2017
Accounting Policies [Abstract]
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., doing business as Trilogy Metals US (“Trilogy Metals US”). These consolidated financial statements included 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, inclusive. 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 The Company classified the operations of Sunward Investments as discontinued operations, retrospectively. All figures are in United States dollars unless otherwise noted. References to CDN$ refer to amounts in Canadian dollars. 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 August 31, 2017, our results of operations for the three months and nine months ended August 31, 2017 and 2016 and our cash flows for the nine months ended August 31, 2017 and 2016. The results of operations for the three and nine months ended August 31, 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 October 4, 2017.
Recent accounting pronouncements [Policy Text Block]	Recent accounting pronouncements i. Statement of cash flows In November 2016, the FASB issued guidance regarding the presentation of restricted cash in the statement of cash flows (“ASU 2016-18”). This update is effective for annual reporting periods beginning after December 15, 2017, and early adoption is permitted. The Company has analyzed the impact of the update and determined that the clarification will not affect the Company’s presentation on its statement of cash flows. The Company early adopted the standard in the second quarter of 2017. As there was no impact on the Company’s statement of cash flows, there were no changes as a result of adopting the standard. 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, 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. 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. 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. iv. 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)	9 Months Ended
	Aug. 31, 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 August 31, 2017 November 30, 2016 Current investments 4,571 7,538 Long-term investments 81 297 Investments 4,652 7,835

Mineral properties and develo17

Mineral properties and development costs (Tables)	9 Months Ended
	Aug. 31, 2017
Mineral Industries Disclosures [Abstract]
Schedule of Mineral Properties and Development Costs [Table Text Block]	in thousands of dollars November 30, 2016 Acquisition costs August 31, 2017 Alaska, USA Ambler (a) 26,586 1 26,587 Bornite (b) 4,000 - 4,000 30,586 1 30,587 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 Trilogy Metals US through a purchase and sale agreement with AGC. On October 24, 2011, NovaGold transferred its ownership of Trilogy Metals 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, Trilogy Metals 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, Trilogy Metals 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]	The following table summarizes mineral properties expense for the noted periods and includes expenditures funded by South32. In thousands of dollars Three months Three months Nine months Nine months Alaska, USA Community 67 63 201 184 Drilling 3,194 712 3,284 712 Engineering 1,085 191 1,508 410 Environmental 122 212 181 235 Geochemistry and geophysics 146 28 151 41 Land and permitting 215 113 667 322 Other income (26) (34) (26) (34) Project support 2,307 1,030 2,641 1,136 Wages and benefits 1,361 762 1,800 1,061 Mineral property expense 8,471 3,077 10,407 4,067

Accounts payable and accrued 18

Accounts payable and accrued liabilities (Tables)	9 Months Ended
	Aug. 31, 2017
Accounts Payable and Accrued Liabilities [Abstract]
Schedule of Accounts Payable and Accrued Liabilities [Table Text Block]	in thousands of dollars August 31, 2017 November 30, 2016 Trade accounts payable 2,179 160 Accrued liabilities 2,494 281 Accrued salaries and vacation 86 152 Accounts payable and accrued liabilities 4,759 593

Share capital (Tables)

Share capital (Tables)	9 Months Ended
	Aug. 31, 2017
Equity [Abstract]
Schedule of Common Shares Issued and Outstanding [Table Text Block]	in thousands of dollars, except share amounts Number of shares Ascribed value 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 171,458 54 Restricted Share Units 209,198 83 August 31, 2017, issued and outstanding 105,667,125 136,494
Schedule of Stock Options, Valuation Assumptions [Table Text Block]	August 31, 2017 Risk-free interest rates 0.89 % Exercise price CDN$0.72 Expected life 3.0 years Expected volatility 74.3 % Expected dividends Nil
Schedule of Stock Options Activity [Table Text Block]	A summary of the Company’s stock option plan and changes during the nine month period ended is as follows: August 31, 2017 Number of options Weighted average Balance – beginning of period 6,049,433 0.50 Granted 1,695,000 0.57 Exercised (362,477) 0.40 Forfeited (169,329) 0.50 Balance – end of period 7,212,627 0.56
Schedule of Disclosure of Stock Options Outstanding [Table Text Block]	The following table summarizes information about the stock options outstanding at August 31, 2017. Outstanding Exercisable Unvested Range of price Number of Weighted Weighted Number of Weighted Number of $0.35 to $0.50 4,267,627 2.95 0.41 3,588,457 0.42 679,170 $0.51 to $1.00 2,890,000 3.30 0.75 2,163,327 0.81 726,673 $1.01 to $1.47 55,000 0.67 1.59 55,000 1.59 - 7,212,627 3.07 0.56 5,806,784 0.58 1,405,843
Schedule of NovaGold Arrangement Options Activity [Table Text Block]	A summary of the NovaGold Arrangement Options and changes during the nine month period ended is as follows: August 31, 2017 Number of options Weighted average Balance – beginning of period 312,195 4.26 Expired (312,195) 4.26 Balance – end of period - -
Schedule Of Sunward Arrangement Stock Options Outstanding [Table Text Block]	A summary of the Company’s unit plans and changes during the nine month period ended August 31, 2017 is as follows: Number of RSUs Number of DSUs Balance – beginning of period 400,001 925,390 Granted 600,000 98,554 Vested/paid (399,999) - Balance – end of period 600,002 1,023,944
Schedule of Warrants, Activity [Table Text Block]	A summary of the Company’s warrants and changes during the nine months ended August 31, 2017 is as follows: Number of Weighted Weighted Balance – beginning of period 6,521,740 2.35 1.60 Balance – end of period 6,521,740 1.85 1.60

Financial instruments (Tables)

Financial instruments (Tables)	9 Months Ended
	Aug. 31, 2017
Financial Instruments [Abstract]
Contractual Obligation, Fiscal Year Maturity Schedule [Table Text Block]	Contractually obligated cash flow requirements as at August 31, 2017 are as follows. in thousands of dollars Total < 1 Year 1–2 Years 2–5 Years Thereafter Accounts payable and accrued liabilities 4,759 4,759 - - - Office lease (note 8) 1,349 44 178 580 547 6,108 4,803 178 580 547
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 August 31, 2017 November 30, 2016 Level 1 Level 2 Level 3 Level 1 Level 2 Level 3 Current investments – shares 4,571 - - 7,538 - - Investments – warrants - - 81 - - 297 South32 purchase option - - - - - -

Commitments (Tables)

Commitments (Tables)	9 Months Ended
	Aug. 31, 2017
Commitments and Contingencies Disclosure [Abstract]
Schedule of Future Minimum Lease Payments [Table Text Block]	in thousands of dollars August 31, 2017 2017 44 2018 178 2019 184 2020 193 2021 203 2022-2024 547 Total 1,349

Summary of significant accoun22

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		9 Months Ended
	Aug. 31, 2017USD ($)	Aug. 31, 2016USD ($)	Aug. 31, 2017USD ($)shares	Aug. 31, 2017CADshares	Aug. 31, 2016USD ($)
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		$ 7,800
Sale of Stock, Number of Shares Issued in Transaction | shares			1,519,000	1,519,000
Trading Securities, Change in Unrealized Holding Gain (Loss)	$ (83)	$ 0	$ (1,252)		$ 0
Sale of Stock, Consideration Received on Transaction			2,200
Trading Securities, Realized Loss			$ 200
Sunward Investments [Member]
Class of Warrant or Right, Grants in Period, Exercise Price | CAD				CAD 3.50
Mineral property acquisition	100.00%		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	Aug. 31, 2017	Nov. 30, 2016
Current investments	$ 4,571	$ 7,538
Long-term investments	81	297
Investments	$ 4,652	$ 7,835

Mineral properties and develo25

Mineral properties and development costs (Narrative) (Details) - USD ($) $ in Thousands	Apr. 10, 2017	Jan. 11, 2010	Oct. 31, 2011	Oct. 19, 2011	Aug. 31, 2017	Aug. 31, 2016	Aug. 31, 2017	Aug. 31, 2016
Mineral properties expense					$ 8,471	$ 3,077	$ 10,407	$ 4,067
Investments in and Advance to Affiliates, Subsidiaries, Associates, and Joint Ventures	$ 150,000
Maximum Subscription Price	5,000
Maintenance Costs	10,000
Proceeds from Contributions from Affiliates	$ 10,000						10,000	$ 0
Security Deposit					$ 2,700		2,700
Approximationss [Member]
Payments for mineral property							73,400
Acquisition costs							30,600
Mineral properties expense							$ 104,000
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		9 Months Ended	12 Months Ended
		Aug. 31, 2017	Nov. 30, 2016	Nov. 30, 2015
Mineral properties and development costs		$ 30,587	$ 30,586
Alaska, USA [Member]
Acquisition costs		1	0
Mineral properties and development costs		30,587	30,586	$ 30,586
Ambler Propertyss [Member] | Alaska, USA [Member]
Acquisition costs	[1]	1	0
Mineral properties and development costs	[1]	26,587	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]	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 Trilogy Metals US through a purchase and sale agreement with AGC. On October 24, 2011, NovaGold transferred its ownership of Trilogy Metals 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]	On October 19, 2011, Trilogy Metals 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, Trilogy Metals 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 Trilogy Metals 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		9 Months Ended
	Aug. 31, 2017	Aug. 31, 2016	Aug. 31, 2017	Aug. 31, 2016
Mineral property expense	$ 8,471	$ 3,077	$ 10,407	$ 4,067
Alaska, USA [Member]
Community	67	63	201	184
Drilling	3,194	712	3,284	712
Engineering	1,085	191	1,508	410
Environmental	122	212	181	235
Geochemistry and geophysics	146	28	151	41
Land and permitting	215	113	667	322
Other income	(26)	(34)	(26)	(34)
Project support	2,307	1,030	2,641	1,136
Wages and benefits	$ 1,361	$ 762	$ 1,800	$ 1,061

Schedule of Accounts Payable an

Schedule of Accounts Payable and Accrued Liabilities (Details) - USD ($) $ in Thousands	Aug. 31, 2017	Nov. 30, 2016
Trade accounts payable	$ 2,179	$ 160
Accrued liabilities	2,494	281
Accrued salaries and vacation	86	152
Accounts payable and accrued liabilities	$ 4,759	$ 593

Share capital (Narrative) (Deta

Share capital (Narrative) (Details)	Dec. 15, 2016shares	Dec. 23, 2016USD ($)shares	Aug. 31, 2017USD ($)$ / sharesshares	Aug. 31, 2017USD ($)$ / sharesCAD / sharesshares	Aug. 31, 2016USD ($)shares	Aug. 31, 2016USD ($)CAD / shares	Nov. 30, 2016$ / sharesshares
Stock options granted, weighted average exericse price | CAD / shares				CAD 0.72		CAD 0.44
Stock-based compensation | $			$ 603,000		$ 544,000
Non-vested stock options outstanding			7,212,627	7,212,627
Weighted average exercise price options outstanding | $ / shares			$ 0.56	CAD 0.56
Units vested		399,999
Stock Issued During Period, Shares, Restricted Stock Award, Net of Forfeitures		209,198
Aggregate intrinsic value, vested options | $			$ 2,800,000	CAD 2,800,000	490,000	CAD 490,000
Aggregate intrinsic value, options exercised | $			$ 150,000		90,000
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			1,405,843	1,405,843
Weighted average exercise price options outstanding | $ / shares			$ 0.48	CAD 0.48
Number of RSU's [Member]
Granted	600,000		600,000
Number of DSU's [Member]
Common stock committed for issuance			20,685	20,685
Stock-based compensation | $					$ 220,000
Granted			98,554
Class of Warrant or Right, Number of Securities Called by Warrants or Rights			3,447	3,447
Stock-based Compensation [Member]
Stock-based compensation | $			$ 290,000
NovaGold Arrangement Options [Member]
Non-vested stock options outstanding			0	0			312,195
Weighted average exercise price options outstanding | $ / shares			$ 0	CAD 0			$ 4.26
Approximationss [Member] | Non-Vested Options [Member]
Stock option expense | $			$ 100,000
New Employees [Member]
Stock options granted			1,695,000		1,785,000
Stock options granted, weighted average exercise price | $ / shares			$ 0.22
Directors, Employees and Services Providers [Member]
Stock-based compensation | $			$ 310,000		$ 330,000

Schedule of Common Shares Issue

Schedule of Common Shares Issued and Outstanding (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Aug. 31, 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)	171,458	162,854
Exercise of options	$ 54	$ 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	105,667,125	105,286,469
Ascribed Value Common Shares	$ 136,494	$ 136,357

Schedule of Stock Options, Valu

Schedule of Stock Options, Valuation Assumptions (Details)	9 Months Ended
	Aug. 31, 2017CAD / shares
Risk-free interest rates	0.89%
Exercise price	CAD 0.72
Expected life	3 years
Expected volatility	74.30%
Expected dividends	0.00%

Schedule of Stock Options Activ

Schedule of Stock Options Activity (Details)	9 Months Ended
	Aug. 31, 2017$ / sharesshares	Aug. 31, 2017CAD / sharesshares	Aug. 31, 2016CAD / shares
Stock options, weighted average exercise price | CAD / shares		CAD 0.72	CAD 0.44
Balance - End of Period, Number of stock options | shares	7,212,627	7,212,627
Balance - End of Period, Weighted average exercise price | $ / shares	$ 0.56
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	1,695,000	1,695,000
Stock options, weighted average exercise price | $ / shares	$ 0.57
Exercise of options (Shares) | shares	(362,477)	(362,477)
Stock options, weighted average exercise price, exercised | $ / shares	$ 0.4
Stock options, number of options forfeited during the period | shares	(169,329)	(169,329)
Stock options, weighted average exercise price of forfeitures | $ / shares	$ 0.5
Balance - End of Period, Number of stock options | shares	7,212,627	7,212,627
Balance - End of Period, Weighted average exercise price | $ / shares	$ 0.56

Schedule of Disclosure of Stock

Schedule of Disclosure of Stock Options Outstanding (Details)	9 Months Ended
	Aug. 31, 2017$ / sharesshares
Number of outstanding options | shares	7,212,627
Weighted average years to expiry	3 years 25 days
Weighted average exercise price options outstanding	$ 0.56
Number of exercisable options | shares	5,806,784
Weighted average exercise price	$ 0.58
Number of unvested options | shares	1,405,843
Range 1 [Member]
Exercise price lower range limit	$ 0.35
Exercise price upper range limit	$ 0.50
Number of outstanding options | shares	4,267,627
Weighted average years to expiry	2 years 11 months 12 days
Weighted average exercise price options outstanding	$ 0.41
Number of exercisable options | shares	3,588,457
Weighted average exercise price	$ 0.42
Number of unvested options | shares	679,170
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 3 months 18 days
Weighted average exercise price options outstanding	$ 0.75
Number of exercisable options | shares	2,163,327
Weighted average exercise price	$ 0.81
Number of unvested options | shares	726,673
Range 3 [Member]
Exercise price lower range limit	$ 1.01
Exercise price upper range limit	$ 1.47
Number of outstanding options | shares	55,000
Weighted average years to expiry	8 months 1 day
Weighted average exercise price options outstanding	$ 1.59
Number of exercisable options | shares	55,000
Weighted average exercise price	$ 1.59
Number of unvested options | shares	0

Schedule of NovaGold Arrangemen

Schedule of NovaGold Arrangement Options Activity (Details)	9 Months Ended
	Aug. 31, 2017$ / sharesshares
Balance - End of Period, Number of stock options | shares	7,212,627
Balance - End of Period, Weighted average exercise price | $ / shares	$ 0.56
NovaGold Arrangement Options [Member]
Balance - Beginning of Period, Number of stock Options | shares	312,195
Balance - Beginning of Period, Weighted average exercise price | $ / shares	$ 4.26
Stock options, number of options expired | shares	(312,195)
Stock options, weighted average exercise price, stock options expired | $ / shares	$ 4.26
Balance - End of Period, Number of stock options | shares	0
Balance - End of Period, Weighted average exercise price | $ / shares	$ 0

Schedule of Unit Plans and Chan

Schedule of Unit Plans and Changes Activity (Details) - shares	Dec. 15, 2016	Aug. 31, 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		98,554
Vested/paid		0
Balance-end of period		1,023,944

Schedule of Warrants, Activity

Schedule of Warrants, Activity (Details) - $ / shares	9 Months Ended	12 Months Ended
	Aug. 31, 2017	Nov. 30, 2016
Balance - beginning of period		6,521,740
Weighted average years to expiry	1 year 10 months 6 days	2 years 4 months 6 days
Weighted average exercise price	$ 1.60	$ 1.6
Balance - end of period	6,521,740

Financial instruments (Narrativ

Financial instruments (Narrative) (Details)	9 Months Ended
	Aug. 31, 2017USD ($)	Aug. 31, 2017CAD	Feb. 21, 2017USD ($)	Nov. 30, 2016USD ($)
Accounts receivable	$ 341,000			$ 47,000
Deposits and prepaid amounts	$ 864,000			724,000
Change in interest rate	1.00%
Interest rate loss	$ 100,000
Investments	4,652,000			$ 7,835,000
Lease commitment	$ 6,108,000		$ 1,300,000
Canadian Limit Due to Currency Risk [Member]
Cash | CAD		CAD 2,596,000
Accounts receivable | CAD		421,000
Deposits and prepaid amounts | CAD		116,000
Accounts payable | CAD		CAD 859,000
Change in foreign exchange rate	10.00%	10.00%
Foreign currency net loss	$ 647,000
Investments | CAD		CAD 5,833,000

Schedule of Contractually Oblig

Schedule of Contractually Obligated Cash Flow Requirements (Details) - USD ($) $ in Thousands	Aug. 31, 2017	Feb. 21, 2017
Total	$ 6,108	$ 1,300
Within 1 Year	4,803
1 - 2 Years	178
2 - 5 Years	580
Thereafter	547
Accounts Payable and Accrued Liabilities [Member]
Total	4,759
Within 1 Year	4,759
1 - 2 Years	0
2 - 5 Years	0
Thereafter	0
Office Lease [Member]
Total	1,349
Within 1 Year	44
1 - 2 Years	178
2 - 5 Years	580
Thereafter	$ 547

Schedule of financial assets an

Schedule of financial assets and liabilities that are measured and recognized at fair value (Details) - USD ($) $ in Thousands	Aug. 31, 2017	Nov. 30, 2016
Fair Value, Inputs, Level 1 [Member]
Obligations, Fair Value Disclosure	$ 0	$ 0
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	4,571	7,538
Fair Value, Inputs, Level 2 [Member]
Obligations, Fair Value Disclosure	0	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]
Obligations, Fair Value Disclosure	0	0
Fair Value, Inputs, Level 3 [Member] | Warrant [Member]
Investments, Fair Value Disclosure	81	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	Aug. 31, 2017USD ($)
2,017	$ 44
2,018	178
2,019	184
2,020	193
2,021	203
2022-2024	547
Total	$ 1,349