Trilogy Metals (TMQ) 10-Q 16 Jul 18 2018 Q2 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	6 Months Ended
	May 31, 2018	Jul. 16, 2018
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	May 31, 2018
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q2
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 Common Stock, Shares Outstanding		131,467,266

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	May 31, 2018	Nov. 30, 2017
Current assets
Cash and cash equivalents	$ 37,469	$ 5,391
Accounts receivable	29	470
Deposits and prepaid amounts	904	837
Investments (note 3)	229	2,516
Total Current Assets	38,631	9,214
Plant and Equipment (note 4)	408	478
Mineral properties and development costs (note 5)	30,587	30,587
Total Assets	69,626	40,279
Current liabilities
Accounts payable and accrued liabilities (note 6)	2,567	4,249
Current liabilities	2,567	4,249
Mineral properties purchase option (note 5(c))	20,000	10,365
Total Liabilities	22,567	14,614
Shareholders’ equity
Share capital (note 7) - unlimited common shares authorized, no par value Issued -131,348,458 (2017 - 105,684,523)	163,947	136,525
Warrants (note 7(c))	2,253	2,163
Contributed surplus	124	124
Contributed surplus - options (note 7(a))	18,942	18,402
Contributed surplus - units (note 7(b))	1,361	1,319
Deficit	(139,568)	(132,868)
Total Stockholders' Equity	47,059	25,665
Total Liabilities and Stockholders' Equity	$ 69,626	$ 40,279

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	6 Months Ended	12 Months Ended
	May 31, 2018	Nov. 30, 2017
Common Stock, Shares Authorized, Unlimited	Unlimited	Unlimited
Common Stock, No Par Value	$ 0	$ 0
Common Stock, Shares, Issued	131,348,458	105,684,523

Consolidated Statements of Loss

Consolidated Statements of Loss and Comprehensive Loss - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	May 31, 2018	May 31, 2017	May 31, 2018	May 31, 2017
Expenses
Amortization	$ 42	$ 19	$ 83	$ 39
Foreign exchange loss (gain)	19	130	(44)	50
General and administrative	454	407	799	785
Investor relations	138	93	202	156
Mineral properties expense (note 5(d))	2,475	1,297	3,606	1,936
Professional fees	114	193	273	318
Salaries	223	224	452	466
Salaries - stock-based compensation	151	106	1,073	499
Total expenses	3,616	2,469	6,444	4,249
Other items
Unrealized loss (gain) on held for trading investments	(377)	(70)	(1,016)	1,169
Loss (gain) on sale of investments	502	3	1,276	0
Interest and other income	(77)	(12)	(94)	(31)
Loss and comprehensive loss for the period	$ 3,664	$ 2,390	$ 6,610	$ 5,387
Basic and diluted loss per common share	$ 0.03	$ 0.02	$ 0.06	$ 0.05
Weighted average number of common shares outstanding	117,583,238	105,543,283	111,989,192	105,495,882

Consolidated Statements of Chan

Consolidated Statements of Changes in Shareholders' Equity - USD ($) $ in Thousands	Total	Share capital [Member]	Warrants [Member]	Contributed Surplus [Member]	Contributed surplus - options [Member]	Contributed surplus - units [Member]	Deficit [Member]
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	$ 23	0	0	(23)	0	0
Exercise of options (Shares)		58,822
Restricted Share Units	(90)	$ 83	0	0	0	(173)	0
Restricted Share Units (Shares)		209,198
Stock-based compensation	499	$ 0	0	0	269	230	0
Loss for the period	(5,387)	0	0	0	0	0	(5,387)
Ending Balance at May. 31, 2017	41,176	$ 136,463	2,163	124	18,380	1,197	(117,151)
Ending Balance (Shares) at May. 31, 2017		105,554,489
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
Share issuance costs	(1,819)
Ending Balance at Nov. 30, 2017	25,665	$ 136,525	2,163	124	18,402	1,319	(132,868)
Ending Balance (Shares) at Nov. 30, 2017		105,684,523
Bought deal financing (note 7)	28,750	$ 28,750	90	0	0	0	(90)
Bought deal financing (note 7) (Shares)		24,784,482
Share issuance costs	(1,819)	$ (1,819)	0	0	0	0	0
Exercise of options	0	$ 34	0	0	(34)	0	0
Exercise of options (Shares)		79,453
Restricted Share Units	0	$ 457	0	0	0	(457)	0
Restricted Share Units (Shares)		800,000
Stock-based compensation	1,073	$ 0	0	0	574	499	0
Loss for the period	(6,610)	0	0	0	0	0	(6,610)
Ending Balance at May. 31, 2018	$ 47,059	$ 163,947	$ 2,253	$ 124	$ 18,942	$ 1,361	$ (139,568)
Ending Balance (Shares) at May. 31, 2018		131,348,458

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	May 31, 2018	May 31, 2017	May 31, 2018	May 31, 2017	Nov. 30, 2017
Cash flows used in operating activities
Loss for the period			$ (6,610)	$ (5,387)
Items not affecting cash
Amortization			83	39
Unrealized gain on held for trading investments	$ (377)	$ (70)	(1,016)	1,169
Realized foreign exchange loss (gain)			(64)	20
Realized loss on sale of investments	502	3	1,276	0
Stock-based compensation	151	106	1,073	499
Net change in non-cash working capital
Decrease in accounts receivable			441	(59)
Decrease in deposits and prepaid amounts			(67)	(388)
Decrease in accounts payable and accrued liabilities			(1,682)	521
Net Cash Provided by (Used in) Operating Activities			(6,566)	(3,586)
Cash flows from (used in) financing activities
Proceeds from bought deal financing (note 7)			28,750	0
Share issuance cost			(1,819)	0
Settlement of Restricted Share Units			0	(90)
Net Cash Provided by (Used in) Financing Activities			26,931	(90)
Cash flows from (used in) investing activities
Acquisition of plant & equipment			(13)	(16)
Mineral properties funding (note 5 (c))			9,635	10,000
Proceeds from the sale of investments, net of fees			2,080	881
Net Cash Provided by (Used in) Investing Activities			11,702	10,865
Increase (decrease) in cash and cash equivalents			32,067	7,189
Effect of exchange rate on cash and cash equivalents			11	0
Cash and cash equivalents - beginning of period			5,391	7,340	$ 7,340
Cash and cash equivalents - end of period	$ 37,469	$ 14,529	$ 37,469	$ 14,529	$ 5,391

Nature of operations

Nature of operations	6 Months Ended
	May 31, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nature of operations [Text Block]	Nature of operations Trilogy Metals 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	6 Months Ended
	May 31, 2018
Accounting Policies [Abstract]
Summary of significant accounting policies [Text Block]	2. Summary of significant accounting policies Basis of presentation 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. (dba “Trilogy Metals US”). All significant intercompany transactions are eliminated on consolidation. All figures are in United States dollars unless otherwise noted. References to CAD$ 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 the Company’s financial position as of May 31, 2018 and our results of operations and cash flows for the six months ended May 31, 2018 and May 31, 2017. The results of operations for the six months ended May 31, 2018 are not necessarily indicative of the results to be expected for the year ending November 30, 2018. 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, 2017 filed with the U.S. Securities and Exchange Commission (“SEC”) on February 2, 2018. These financial statements were approved by the Company’s Audit Committee on behalf of the Board of Directors for issue on July 16, 2018. Recent accounting pronouncements i. Leases In February 2016, the Financial Accounting Standards Board (“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 the 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 the fiscal year ending November 30, 2020. We expect the adoption will have an impact as we expect to capitalize leases, specifically our office leases which are not currently recognized on the balance sheets. We are in the process of analyzing the quantitative impact of this guidance on our results of operations and financial position. The impact of this adoption will increase asset and liability balances as part of recognizing the leases on the balance sheet. It will impact the statement of loss and comprehensive loss due to the recognition of depreciation on the leased assets and interest expense from the lease liability compared to the current recognition of lease expense as incurred. ii. Financial instruments In March 2016, the FASB issued new guidance on classifying and measuring financial instruments (“ASU 2016-02”). 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 changes to classification and measurement of financial instruments are not expected to have an impact as the Company’s current equity investments are held at fair value with changes recorded to the statement of loss and comprehensive loss. The remaining changes in the update do not have an effect on the Company’s accounting for financial instruments. The standard will be effective for the Company for the fiscal year ending November 30, 2019. 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 adopted this guidance and made the policy choice of estimating the number of awards expected to be forfeited and adjusting the estimate when it is no longer probable that the employee will fulfill the service condition. This policy choice is consistent with the Company’s previous practice and therefore, no adjustments were necessary on adoption. 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. The standard does not have an impact to the Company’s historical recognition of asset acquisitions and business combinations. However, the Company expects there would be an impact to how the Company accounts for assets acquired in the future. The Company has adopted the standard early for the fiscal year ended November 30, 2018. v. Accounting for certain financial instruments with down round features In July 2017, the FASB issued a two-part Accounting Standards Update (“ASU”), No. 2017-11, Earnings Per Share (ASC 260), Distinguishing Liabilities from Equity (ASC 480), Derivatives and Hedging (ASC 815): I. Accounting for Certain Financial Instruments with Down Round Features and II. Replacement of the Indefinite Deferral for Mandatorily Redeemable Financial Instruments of Certain Nonpublic Entities and Certain Mandatorily Redeemable Noncontrolling Interests with a Scope Exception. Under the guidance, entities will no longer consider a down round feature when determining whether a free standing financial instrument or an embedded feature that contains a down round feature is considered indexed to the entity’s own stock under ASC 815-40 which is required for a freestanding financial instrument to be classified in shareholder’s equity and may exempt an embedded feature from bifurcation and derivative accounting. Entities will recognize the effect of a down round feature only when it is triggered. ASU 2017-11 is effective for public business entities for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2018 and early adoption is permitted. The Company has adopted this guidance at the beginning of this fiscal year.

Investments

Investments	6 Months Ended
	May 31, 2018
Investments, All Other Investments [Abstract]
Investments [Text Block]	3. Investments On September 1, 2016, Trilogy acquired 5,000,000 common shares of GoldMining Inc. (“GMI”), formerly Brazil Resources Inc., a public company listed on the TSX-Venture exchange, and 1,000,000 warrants, with each warrant exercisable into one common share of GMI until September 1, 2018 at an exercise price of CAD$3.50, through its sale of Sunward Investments Ltd. The common shares and warrants received have been designated as held-for-trading financial assets and are classified as current investments. in thousands of dollars May 31, 2018 $ November 30, 2017 $ Current investments 229 2,516 During the period ended May 31, 2018, the Company sold 2,085,000 (2017 – 570,000) common shares of GMI for proceeds of $2.1 million (2017 – $0.9 million) and realized a loss on sale of $1.3 million (2017 - $Nil million). During the period, the Company recorded an unrealized gain on the common shares and warrants of GMI of $1.0 million (2017 - loss of $1.2 million). As at May 31, 2018, the Company held 280,000 (2017 – 2,365,000) common shares of GMI, which were sold In June 2018 and 1,000,000 (2017 – 1,000,000) warrants expiring September 1, 2018 which were valued at $Nil using the Black-Scholes option pricing model at period end.

Plant and equipment

Plant and equipment	6 Months Ended
	May 31, 2018
Property, Plant and Equipment [Abstract]
Plant and equipment [Text Block]	4. Plant and equipment May 31, 2018 Cost Accumulated Net British Columbia, Canada Furniture and equipment 64 (11) 53 Leasehold improvements 53 (6) 47 Computer hardware and software 115 (107) 8 Alaska, USA Machinery, and equipment 3,178 (2,913) 265 Vehicles 348 (321) 27 Computer hardware and software 41 (33) 8 3,799 (3,391) 408 in thousands of dollars November 30, 2017 Cost Accumulated Net British Columbia, Canada Furniture and equipment 63 (4) 59 Leasehold improvements 85 (34) 51 Computer hardware and software 108 (105) 3 Alaska, USA Machinery, and equipment 3,178 (2,855) 323 Vehicles 348 (309) 39 Computer hardware and software 35 (32) 3 3,817 (3,339) 478

Mineral properties and developm

Mineral properties and development costs	6 Months Ended
	May 31, 2018
Mineral Industries Disclosures [Abstract]
Mineral properties and development costs [Text Block]	5. Mineral properties and development costs November 30, 2017 Acquisition costs May 31, 2018 Alaska, USA Ambler (a) 26,587 - 26,587 Bornite (b) 4,000 - 4,000 30,587 - 30,587 in thousands of dollars November 30, 2016 Acquisition costs November 30, 2017 Alaska, USA Ambler (a) 26,586 1 26,587 Bornite (b) 4,000 - 4,000 30,586 - 30,587 (a) Ambler On January 11, 2010, NovaGold Resources Inc. (“NovaGold”), through Alaska Gold Company (“AGC”), at the time a wholly-owned NovaGold 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 itself 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 Operations”), a wholly-owned subsidiary of South32 Limited, on the UKMP (the “Option Agreement”), which agreement was later assigned by South32 Operations to its affiliate, South32 USA Exploration Inc. (together with South32 Operations, “South32”). Trilogy Metals US granted South32 the right to form a 50/50 joint venture to hold all of Trilogy Metals US’ Alaskan assets. If the option is exercised, 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 During the year ended November 30, 2017, the Company received the first payment of $ 10.0 10.0 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 for the purchase of the UKMP interest. 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 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. The Company determined that the fair value of the option is still $nil as at May 31, 2018. (d) Mineral properties expense In thousands of dollars Three months Three months Six months Six months Alaska, USA Community 154 78 244 134 Drilling 180 90 180 90 Engineering 195 154 527 423 Environmental 84 59 161 59 Geochemistry and geophysics 591 5 646 5 Land and permitting 154 348 345 452 Project support 601 287 677 334 Other income (2) - (20) - Wages and benefits 518 276 846 439 Mineral property expense 2,475 1,297 3,606 1,936 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 May 31, 2018 is $ 81.7 30.6 112.3

Accounts payable and accrued li

Accounts payable and accrued liabilities	6 Months Ended
	May 31, 2018
Accounts Payable and Accrued Liabilities [Abstract]
Accounts payable and accrued liabilities [Text Block]	6. Accounts payable and accrued liabilities in thousands of dollars May 31, 2018 November 30, 2017 Trade accounts payable 372 2,767 Accrued liabilities 2,101 1,293 Accrued salaries and vacation 94 189 Accounts payable and accrued liabilities 2,567 4,249

Share capital

Share capital	6 Months Ended
	May 31, 2018
Equity [Abstract]
Share capital [Text Block]	7. Share capital Authorized: unlimited common shares, no par value Number of shares Ascribed value November 30, 2016 105,286,469 136,357 Exercise of options 188,856 85 Restricted Share Units 209,198 83 November 30, 2017 105,684,523 136,525 Bought deal financing 24,784,482 28,750 Share issuance costs - (1,819) Exercise of options 79,453 34 Restricted Share Units 800,000 457 May 31, 2018, issued and outstanding 131,348,458 163,947 On April 20, 2018, the Company completed a bought-deal financing for gross proceeds of $ 28.7 24,784,482 1.16 1.8 26.9 As of May 31, 2018, 20,685 3,447 (a) Stock options During the period ended May 31, 2018, 2,125,000 1,695,000 1.04 0.72 0.37 For the period ended May 31, 2018, Trilogy recognized a stock-based compensation charge of $ 0.58 0.27 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. May 31, 2018 Risk-free interest rates 1.55 % Exercise price CAD$ 1.04 Expected life 3.0 years Expected volatility 77.6 % Expected dividends Nil As of May 31, 2018, there were 1,403,342 0.96 0.25 A summary of the Company’s stock option plan and changes during the six month period ended is as follows: May 31, 2018 Number of options Weighted average Balance – beginning of the year 7,127,500 0.54 Granted 2,125,000 0.80 Exercised (135,844) 0.59 Forfeited (25,000) 1.53 Balance – end of period 9,091,656 0.59 The following table summarizes information about the stock options outstanding at May 31, 2018. Outstanding Exercisable Unvested Range of price Number of Weighted Weighted Number of Weighted Number of $0.34 to $0.50 4,169,989 2.20 0.40 4,169,989 0.40 $0.51 to $1.00 4,746,667 3.40 0.74 3,413,325 0.75 1,333,342 $1.01 to $1.49 175,000 3.83 1.19 105,000 1.25 70,000 9,091,656 2.60 0.59 7,688,314 0.57 1,403,342 The aggregate intrinsic value of vested share options (the market value less the exercise price) at May 31, 2018 was $ 5.9 1.2 0.1 0.31 (b) 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. Awards under the RSU Plan and DSU Plan may be settled in cash and/or common shares of the Company at the Company’s election with each restricted share unit (“RSU”) and deferred share unit (“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 the year 600,002 1,041,231 Granted 600,000 95,398 Vested/paid (800,000) - Balance – end of period 400,002 1,136,629 For the six months ended May 31, 2018, Trilogy recognized a stock-based compensation charge of $ 0.49 0.22 As part of the annual incentive payout for the 2017 fiscal year, 300,000 300,000 800,000 800,000 (c) Share Purchase Warrants Number of Years to expiry Exercise price Balance – beginning of the year 6,521,740 1.60 1.60 Balance – end of period 6,521,740 1.10 1.52 The exercise price of the share purchase warrants was adjusted downward as a result of the financing completed on April 20, 2018 from $ 1.60 1.52 90,000 July 2, 2019

Financial instruments

Financial instruments	6 Months Ended
	May 31, 2018
Financial Instruments [Abstract]
Financial instruments [Text Block]	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 it 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 May 31, 2018 is limited to the Canadian dollar consisting of cash of CAD$ 1.8 0.1 0.3 0.4 10 0.2 (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 Canadian Goods and Services Tax 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 2,567 2,567 - - - Office lease (note 9) 1,181 175 374 614 18 3,748 2,742 374 614 18 (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 May 31, 2018, a 1 0.1 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 May 31, 2018 November 30, 2017 Level 1 Level 2 Level 3 Level 1 Level 2 Level 3 Current investments – shares 229 - - 2,516 - - The Company’s investments consist of shares and warrants in a publicly-held mineral exploration 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.

Commitment

Commitment	6 Months Ended
	May 31, 2018
Commitments and Contingencies Disclosure [Abstract]
Commitment [Text Block]	9. Commitment in thousands of dollars May 31, 2018 One year 175 Years 2 through 5 988 Beyond 5 years 18 Total 1,181

Summary of Significant Accoun16

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	May 31, 2018
Accounting Policies [Abstract]
Basis of presentation [Policy Text Block]	Basis of presentation 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. (dba “Trilogy Metals US”). All significant intercompany transactions are eliminated on consolidation. All figures are in United States dollars unless otherwise noted. References to CAD$ 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 the Company’s financial position as of May 31, 2018 and our results of operations and cash flows for the six months ended May 31, 2018 and May 31, 2017. The results of operations for the six months ended May 31, 2018 are not necessarily indicative of the results to be expected for the year ending November 30, 2018. 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, 2017 filed with the U.S. Securities and Exchange Commission (“SEC”) on February 2, 2018. These financial statements were approved by the Company’s Audit Committee on behalf of the Board of Directors for issue on July 16, 2018.
Recent accounting pronouncements [Policy Text Block]	Recent accounting pronouncements i. Leases In February 2016, the Financial Accounting Standards Board (“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 the 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 the fiscal year ending November 30, 2020. We expect the adoption will have an impact as we expect to capitalize leases, specifically our office leases which are not currently recognized on the balance sheets. We are in the process of analyzing the quantitative impact of this guidance on our results of operations and financial position. The impact of this adoption will increase asset and liability balances as part of recognizing the leases on the balance sheet. It will impact the statement of loss and comprehensive loss due to the recognition of depreciation on the leased assets and interest expense from the lease liability compared to the current recognition of lease expense as incurred. ii. Financial instruments In March 2016, the FASB issued new guidance on classifying and measuring financial instruments (“ASU 2016-02”). 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 changes to classification and measurement of financial instruments are not expected to have an impact as the Company’s current equity investments are held at fair value with changes recorded to the statement of loss and comprehensive loss. The remaining changes in the update do not have an effect on the Company’s accounting for financial instruments. The standard will be effective for the Company for the fiscal year ending November 30, 2019. 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 adopted this guidance and made the policy choice of estimating the number of awards expected to be forfeited and adjusting the estimate when it is no longer probable that the employee will fulfill the service condition. This policy choice is consistent with the Company’s previous practice and therefore, no adjustments were necessary on adoption. 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. The standard does not have an impact to the Company’s historical recognition of asset acquisitions and business combinations. However, the Company expects there would be an impact to how the Company accounts for assets acquired in the future. The Company has adopted the standard early for the fiscal year ended November 30, 2018. v. Accounting for certain financial instruments with down round features In July 2017, the FASB issued a two-part Accounting Standards Update (“ASU”), No. 2017-11, Earnings Per Share (ASC 260), Distinguishing Liabilities from Equity (ASC 480), Derivatives and Hedging (ASC 815): I. Accounting for Certain Financial Instruments with Down Round Features and II. Replacement of the Indefinite Deferral for Mandatorily Redeemable Financial Instruments of Certain Nonpublic Entities and Certain Mandatorily Redeemable Noncontrolling Interests with a Scope Exception. Under the guidance, entities will no longer consider a down round feature when determining whether a free standing financial instrument or an embedded feature that contains a down round feature is considered indexed to the entity’s own stock under ASC 815-40 which is required for a freestanding financial instrument to be classified in shareholder’s equity and may exempt an embedded feature from bifurcation and derivative accounting. Entities will recognize the effect of a down round feature only when it is triggered. ASU 2017-11 is effective for public business entities for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2018 and early adoption is permitted. The Company has adopted this guidance at the beginning of this fiscal year.

Investments (Tables)

Investments (Tables)	6 Months Ended
	May 31, 2018
Investments, All Other Investments [Abstract]
Marketable Securities [Table Text Block]	The common shares and warrants received have been designated as held-for-trading financial assets and are classified as current investments. in thousands of dollars May 31, 2018 November 30, 2017 Current investments 229 2,516

Plant and equipment (Tables)

Plant and equipment (Tables)	6 Months Ended
	May 31, 2018
Property, Plant and Equipment [Abstract]
Schedule of Plant and Equipment [Table Text Block]	in thousands of dollars May 31, 2018 Cost Accumulated Net British Columbia, Canada Furniture and equipment 64 (11) 53 Leasehold improvements 53 (6) 47 Computer hardware and software 115 (107) 8 Alaska, USA Machinery, and equipment 3,178 (2,913) 265 Vehicles 348 (321) 27 Computer hardware and software 41 (33) 8 3,799 (3,391) 408 in thousands of dollars November 30, 2017 Cost Accumulated Net British Columbia, Canada Furniture and equipment 63 (4) 59 Leasehold improvements 85 (34) 51 Computer hardware and software 108 (105) 3 Alaska, USA Machinery, and equipment 3,178 (2,855) 323 Vehicles 348 (309) 39 Computer hardware and software 35 (32) 3 3,817 (3,339) 478

Mineral properties and develo19

Mineral properties and development costs (Tables)	6 Months Ended
	May 31, 2018
Mineral Industries Disclosures [Abstract]
Schedule of Mineral Properties and Development Costs [Table Text Block]	in thousands of dollars November 30, 2017 Acquisition costs May 31, 2018 Alaska, USA Ambler (a) 26,587 - 26,587 Bornite (b) 4,000 - 4,000 30,587 - 30,587 in thousands of dollars November 30, 2016 Acquisition costs November 30, 2017 Alaska, USA Ambler (a) 26,586 1 26,587 Bornite (b) 4,000 - 4,000 30,586 - 30,587 (a) Ambler On January 11, 2010, NovaGold Resources Inc. (“NovaGold”), through Alaska Gold Company (“AGC”), at the time a wholly-owned NovaGold 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 itself 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. In thousands of dollars Three months Three months Six months Six months Alaska, USA Community 154 78 244 134 Drilling 180 90 180 90 Engineering 195 154 527 423 Environmental 84 59 161 59 Geochemistry and geophysics 591 5 646 5 Land and permitting 154 348 345 452 Project support 601 287 677 334 Other income (2) - (20) - Wages and benefits 518 276 846 439 Mineral property expense 2,475 1,297 3,606 1,936

Accounts payable and accrued 20

Accounts payable and accrued liabilities (Tables)	6 Months Ended
	May 31, 2018
Accounts Payable and Accrued Liabilities [Abstract]
Schedule of Accounts Payable and Accrued Liabilities [Table Text Block]	in thousands of dollars May 31, 2018 November 30, 2017 Trade accounts payable 372 2,767 Accrued liabilities 2,101 1,293 Accrued salaries and vacation 94 189 Accounts payable and accrued liabilities 2,567 4,249

Share capital (Tables)

Share capital (Tables)	6 Months Ended
	May 31, 2018
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, 2016 105,286,469 136,357 Exercise of options 188,856 85 Restricted Share Units 209,198 83 November 30, 2017 105,684,523 136,525 Bought deal financing 24,784,482 28,750 Share issuance costs - (1,819) Exercise of options 79,453 34 Restricted Share Units 800,000 457 May 31, 2018, issued and outstanding 131,348,458 163,947
Schedule of Stock Options, Valuation Assumptions [Table Text Block]	May 31, 2018 Risk-free interest rates 1.55 % Exercise price CAD$ 1.04 Expected life 3.0 years Expected volatility 77.6 % Expected dividends Nil
Schedule of Stock Options Activity [Table Text Block]	May 31, 2018 Number of options Weighted average Balance – beginning of the year 7,127,500 0.54 Granted 2,125,000 0.80 Exercised (135,844) 0.59 Forfeited (25,000) 1.53 Balance – end of period 9,091,656 0.59
Schedule of Disclosure of Stock Options Outstanding [Table Text Block]	Outstanding Exercisable Unvested Range of price Number of Weighted Weighted Number of Weighted Number of $0.34 to $0.50 4,169,989 2.20 0.40 4,169,989 0.40 $0.51 to $1.00 4,746,667 3.40 0.74 3,413,325 0.75 1,333,342 $1.01 to $1.49 175,000 3.83 1.19 105,000 1.25 70,000 9,091,656 2.60 0.59 7,688,314 0.57 1,403,342
Schedule Of Restricted Share Units and Deferred Share Units plans [Table Text Block]	A summary of the Company’s unit plans and changes during the six month period ended is as follows: Number of RSUs Number of DSUs Balance – beginning of the year 600,002 1,041,231 Granted 600,000 95,398 Vested/paid (800,000) - Balance – end of period 400,002 1,136,629
Schedule of Warrants, Activity [Table Text Block]	A summary of the Company’s warrants and changes during the six months ended May 31, 2018 is as follows: Number of Years to expiry Exercise price Balance – beginning of the year 6,521,740 1.60 1.60 Balance – end of period 6,521,740 1.10 1.52

Financial instruments (Tables)

Financial instruments (Tables)	6 Months Ended
	May 31, 2018
Financial Instruments [Abstract]
Contractual Obligation, Fiscal Year Maturity Schedule [Table Text Block]	Contractually obligated cash flow requirements as at May 31, 2018 are as follows. in thousands of dollars Total < 1 Year 1–2 Years 2–5 Years Thereafter Accounts payable and accrued liabilities 2,567 2,567 - - - Office lease (note 9) 1,181 175 374 614 18 3,748 2,742 374 614 18
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 May 31, 2018 November 30, 2017 Level 1 Level 2 Level 3 Level 1 Level 2 Level 3 Current investments – shares 229 - - 2,516 - -

Commitment (Tables)

Commitment (Tables)	6 Months Ended
	May 31, 2018
Commitments and Contingencies Disclosure [Abstract]
Schedule of Future Minimum Lease Payments [Table Text Block]	The Company has commitments in respect of its office lease (denominated in Canadian dollars converted at the foreign exchange rate at the end of the quarter) requiring future minimum lease payments from the date as follows: in thousands of dollars May 31, 2018 One year 175 Years 2 through 5 988 Beyond 5 years 18 Total 1,181

Investments (Narrative) (Detail

Investments (Narrative) (Details) $ in Thousands	Sep. 01, 2016CAD ($)shares	Apr. 20, 2018	May 31, 2018USD ($)shares	May 31, 2017USD ($)shares	May 31, 2018USD ($)shares	May 31, 2017USD ($)shares
Noncash or Part Noncash Acquisition, Noncash Financial or Equity Instrument Consideration, Warrants Issued	1,000,000
Noncash or Part Noncash Acquisition, Investments Acquired Shares	5,000,000
Sale of Stock, Number of Shares Issued in Transaction					2,085,000	570,000
Sale of Stock, Consideration Received on Transaction | $					$ 2,100	$ 900
Trading Securities, Realized Loss | $					1,300	0
Trading Securities, Change in Unrealized Holding Gain (Loss) | $			$ 377	$ 70	$ 1,016	$ (1,169)
Warrant Expiration Date		Jul. 2, 2019			Sep. 1, 2018
GoldMining Inc [Member]
Noncash or Part Noncash Acquisition, Shares Held			280,000	2,365,000	280,000	2,365,000
Noncash or Part Noncash Acquisition, Warrants Held			1,000,000	1,000,000	1,000,000	1,000,000
Sunward Investments [Member]
Class Of Warrant Or Right Grants In Period Exercise Price | $	$ 3.50

Investments (Schedule Of Design

Investments (Schedule Of Designated As Held-For-Trading Financial Assets) (Details) - USD ($) $ in Thousands	May 31, 2018	Nov. 30, 2017
Current investments	$ 229	$ 2,516

Plant and equipment (Details)

Plant and equipment (Details) - USD ($) $ in Thousands	May 31, 2018	Nov. 30, 2017
Cost	$ 3,799	$ 3,817
Accumulated amortization	(3,391)	(3,339)
Net	408	478
Furniture and equipment [Member] | British Columbia, Canada [Member]
Cost	64	63
Accumulated amortization	(11)	(4)
Net	53	59
Leasehold improvements [Member] | British Columbia, Canada [Member]
Cost	53	85
Accumulated amortization	(6)	(34)
Net	47	51
Computer hardware and software [Member] | British Columbia, Canada [Member]
Cost	115	108
Accumulated amortization	(107)	(105)
Net	8	3
Computer hardware and software [Member] | Alaska, USA [Member]
Cost	41	35
Accumulated amortization	(33)	(32)
Net	8	3
Machinery, and equipment[Member] | Alaska, USA [Member]
Cost	3,178	3,178
Accumulated amortization	(2,913)	(2,855)
Net	265	323
Vehicles [Member] | Alaska, USA [Member]
Cost	348	348
Accumulated amortization	(321)	(309)
Net	$ 27	$ 39

Mineral properties and develo27

Mineral properties and development costs (Narrative) (Details) - USD ($) $ in Thousands	Apr. 10, 2017	Oct. 19, 2011	Jan. 11, 2010	Oct. 19, 2011	May 31, 2018	May 31, 2017	May 31, 2018	May 31, 2017	Nov. 30, 2017	May 31, 2018
Mineral properties expense					$ 2,475	$ 1,297	$ 3,606	$ 1,936
Maximum Subscription Price	$ 150,000
Maintenance Costs	10,000
Proceeds from Contributions from Affiliates							9,635	$ 10,000
Payments to Acquire Projects	$ 5,000
Approximations
Payments for mineral property										$ 112,300
Acquisition costs										30,600
Mineral properties expense										$ 81,700
Titiribi Property [Member]
Proceeds from Contributions from Affiliates							$ 10,000		$ 10,000
Bornite Property [Member]
Payments for mineral property		$ 4,000
Net proceeds royalty				15.00%
Discount on consideration		$ 40,000		$ 40,000
Bornite Property [Member] | Minimum [Member]
Mineral property interest percentage		16.00%		16.00%
Net smelter return royalty				1.00%
Bornite Property [Member] | Maximum [Member]
Mineral property interest percentage		25.00%		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	6 Months Ended		12 Months Ended
	May 31, 2018		Nov. 30, 2017		Nov. 30, 2016
Mineral properties and development costs	$ 30,587		$ 30,587
Alaska, USA [Member]
Acquisition costs	0		0
Mineral properties and development costs	30,587		30,587		$ 30,586
Ambler Propertyss [Member] | Alaska, USA [Member]
Acquisition costs	0	[1]	1
Mineral properties and development costs	26,587	[1]	26,587	[1]	26,586
Bornite Propertys [Member] | Alaska, USA [Member]
Acquisition costs	0	[2]	0
Mineral properties and development costs	$ 4,000	[2]	$ 4,000	[2]	$ 4,000
[1]	On January 11, 2010, NovaGold Resources Inc. (“NovaGold”), through Alaska Gold Company (“AGC”), at the time a wholly-owned NovaGold 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 Company 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 itself 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		6 Months Ended
	May 31, 2018	May 31, 2017	May 31, 2018	May 31, 2017
Mineral property expense	$ 2,475	$ 1,297	$ 3,606	$ 1,936
Alaska, USA [Member]
Community	154	78	244	134
Drilling	180	90	180	90
Engineering	195	154	527	423
Environmental	84	59	161	59
Geochemistry and geophysics	591	5	646	5
Land and permitting	154	348	345	452
Project support	601	287	677	334
Other income	(2)	0	(20)	0
Wages and benefits	$ 518	$ 276	$ 846	$ 439

Schedule of Accounts Payable an

Schedule of Accounts Payable and Accrued Liabilities (Details) - USD ($) $ in Thousands	May 31, 2018	Nov. 30, 2017
Trade accounts payable	$ 372	$ 2,767
Accrued liabilities	2,101	1,293
Accrued salaries and vacation	94	189
Accounts payable and accrued liabilities	$ 2,567	$ 4,249

Share capital (Narrative) (Deta

Share capital (Narrative) (Details)	1 Months Ended			6 Months Ended
	Apr. 20, 2018USD ($)$ / sharesshares	Dec. 31, 2017shares	Dec. 27, 2017shares	May 31, 2018USD ($)$ / sharesshares	May 31, 2018USD ($)$ / shares$ / sharesshares	May 31, 2017USD ($)shares	May 31, 2017USD ($)$ / shares	May 31, 2018$ / shares	Dec. 02, 2017$ / shares	Nov. 30, 2017$ / shares
Stock options granted, weighted average exericse price | $ / shares					$ 1.04		$ 0.72
Stock-based compensation				$ 1,073,000		$ 499,000
Non-vested stock options outstanding | shares				9,091,656	9,091,656
Weighted average exercise price options outstanding | $ / shares				$ 0.59	$ 0.59
Aggregate intrinsic value, vested options				$ 5,900,000	$ 5,900,000	1,200,000	$ 1,200,000
Aggregate intrinsic value, options exercised				100,000		310,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested , Number | shares			800,000
Stock Issued During Period, Shares, Restricted Stock Award, Net of Forfeitures | shares			800,000
Stock Issued During Period, Value, New Issues				28,750,000
Legal Fees	$ 1,800,000
Proceeds from Issuance of Common Stock	26,900,000			$ (1,819,000)		0
Weighted average exercise price (ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1) | $ / shares				$ 1.52	$ 1.52				$ 1.60	$ 1.6
Adjustments to Additional Paid in Capital, Warrant Issued	$ 90,000
Warrant Expiration Date	Jul. 2, 2019			Sep. 1, 2018
Common Stock [Member]
Stock Issued During Period, Value, New Issues	$ 28,700,000
Stock Issued During Period, Shares, New Issues | shares	24,784,482
Shares Issued, Price Per Share | $ / shares	$ 1.16
Non-Vested Options [Member]
Non-vested stock options outstanding | shares				1,403,342	1,403,342
Weighted average exercise price options outstanding | $ / shares								$ 0.96
Number of DSU's [Member]
Common stock committed for issuance | shares				20,685	20,685
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | shares				3,447	3,447
Stock-based Compensation [Member]
Stock-based compensation				$ 490,000		$ 220,000
Approximationss [Member] | Non-Vested Options [Member]
Stock option expense				$ 250,000
Officers [Member] | Restricted Stock Units (RSUs) [Member] | First Vesting Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | shares		300,000
Officers [Member] | Restricted Stock Units (RSUs) [Member] | Second Vesting Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | shares		300,000
New Employees [Member]
Stock options granted | shares				2,125,000		1,695,000
Stock options granted, weighted average exercise price | $ / shares				$ 0.37
Directors, Employees and Services Providers [Member]
Stock-based compensation				$ 580,000		$ 270,000

Schedule of Common Shares Issue

Schedule of Common Shares Issued and Outstanding (Details) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	May 31, 2018	Nov. 30, 2017
Number of Common Shares	105,684,523	105,286,469
Ascribed Value Common Shares	$ 136,525	$ 136,357
Bought deal financing	28,750
Share issuance costs	$ (1,819)	$ (1,819)
Exercise of options (shares)	79,453	188,856
Exercise of options	$ 34	$ 85
Restricted Share Units (Shares)	800,000	209,198
Restricted Share Units	$ 457	$ 83
Number of Common Shares	131,348,458	105,684,523
Ascribed Value Common Shares	$ 163,947	$ 136,525
Share capital [Member]
Bought deal financing (shares)	24,784,482
Bought deal financing	$ 28,750
Share issuance costs	$ (1,819)

Schedule of fair value of the s

Schedule of fair value of the stock options,Valuation Assumptions (Details)	6 Months Ended
	May 31, 2018$ / shares
Risk-free interest rates	1.55%
Exercise price	$ 1.04
Expected life	3 years
Expected volatility	77.60%
Expected dividends

Schedule of Stock Options Activ

Schedule of Stock Options Activity (Details)	6 Months Ended
	May 31, 2018$ / sharesshares	May 31, 2018$ / sharesshares	May 31, 2017$ / shares
Stock options, weighted average exercise price		$ 1.04	$ 0.72
Balance - End of Period, Number of stock options | shares	9,091,656	9,091,656
Balance - End of Period, Weighted average exercise price	$ 0.59
Stock option [Member]
Balance - Beginning of Period, Number of stock Options | shares	7,127,500	7,127,500
Balance - Beginning of Period, Weighted average exercise price	$ 0.54
Stock options granted | shares	2,125,000	2,125,000
Stock options, weighted average exercise price	$ 0.8
Stock options, number of options exercised | shares	(135,844)	(135,844)
Stock options, weighted average exercise price, exercised	$ 0.59
Stock options, number of options forfeited during the period | shares	(25,000)	(25,000)
Stock options, weighted average exercise price of forfeitures	$ 1.53
Balance - End of Period, Number of stock options | shares	9,091,656	9,091,656
Balance - End of Period, Weighted average exercise price	$ 0.59

Schedule of Disclosure of Stock

Schedule of Disclosure of Stock Options Outstanding (Details)	6 Months Ended
	May 31, 2018$ / sharesshares
Number of outstanding options | shares	9,091,656
Weighted average years to expiry	2 years 7 months 6 days
Weighted average exercise price options outstanding	$ 0.59
Number of exercisable options | shares	7,688,314
Weighted average exercise price	$ 0.57
Number of unvested options | shares	1,403,342
Range 1 [Member]
Exercise price lower range limit	$ 0.34
Exercise price upper range limit	$ 0.50
Number of outstanding options | shares	4,169,989
Weighted average years to expiry	2 years 2 months 12 days
Weighted average exercise price options outstanding	$ 0.40
Number of exercisable options | shares	4,169,989
Weighted average exercise price	$ 0.40
Number of unvested options | shares
Range 2 [Member]
Exercise price lower range limit	$ 0.51
Exercise price upper range limit	$ 1
Number of outstanding options | shares	4,746,667
Weighted average years to expiry	3 years 4 months 24 days
Weighted average exercise price options outstanding	$ 0.74
Number of exercisable options | shares	3,413,325
Weighted average exercise price	$ 0.75
Number of unvested options | shares	1,333,342
Range 3 [Member]
Exercise price lower range limit	$ 1.01
Exercise price upper range limit	$ 1.49
Number of outstanding options | shares	175,000
Weighted average years to expiry	3 years 9 months 29 days
Weighted average exercise price options outstanding	$ 1.19
Number of exercisable options | shares	105,000
Weighted average exercise price	$ 1.25
Number of unvested options | shares	70,000

Schedule of Unit Plans and Chan

Schedule of Unit Plans and Changes Activity (Details)	6 Months Ended
	May 31, 2018shares
Number of RSU's [Member]
Balance - beginning of the year	600,002
Granted	600,000
Vested/paid	(800,000)
Balance - end of period	400,002
Number of DSU's [Member]
Balance - beginning of the year	1,041,231
Granted	95,398
Vested/paid	0
Balance - end of period	1,136,629

Schedule of Warrants, Activity

Schedule of Warrants, Activity (Details) - $ / shares	6 Months Ended	12 Months Ended
	May 31, 2018	Nov. 30, 2017	Dec. 02, 2017
Balance - beginning of the year		6,521,740
Weighted average years to expiry	1 year 1 month 6 days	1 year 7 months 6 days
Weighted average exercise price	$ 1.52	$ 1.6	$ 1.60
Balance - end of period	6,521,740

Financial instruments (Narrativ

Financial instruments (Narrative) (Details) $ in Thousands, $ in Millions	6 Months Ended
	May 31, 2018USD ($)	May 31, 2017USD ($)	May 31, 2018CAD ($)	Nov. 30, 2017USD ($)
Deposits and prepaid amounts	$ 904			$ 837
Foreign currency net loss	64	$ (20)
Interest rate loss	$ 100
Canadian Limit Due to Currency Risk [Member]
Cash			$ 1.8
Deposits and prepaid amounts			0.1
Accounts payable			$ 0.4
Change in foreign exchange rate	0.00%		0.00%
Foreign currency net loss	$ 200
Change in interest rate	1.00%
Investments			$ 0.3

Schedule of Contractually Oblig

Schedule of Contractually Obligated Cash Flow Requirements (Details) $ in Thousands	May 31, 2018USD ($)
Total	$ 3,748
Within 1 Year	2,742
1 - 2 Years	374
2 - 5 Years	614
Thereafter	18
Accounts payable and accrued liabilities [Member]
Total	2,567
Within 1 Year	2,567
1 - 2 Years	0
2 - 5 Years	0
Thereafter	0
Office Lease [Member]
Total	1,181
Within 1 Year	175
1 - 2 Years	374
2 - 5 Years	614
Thereafter	$ 18

Schedule of financial assets an

Schedule of financial assets and liabilities that are measured and recognized at fair value (Details) - Shares [Member] - USD ($) $ in Thousands	May 31, 2018	Nov. 30, 2017
Fair Value, Inputs, Level 1 [Member]
Investments, Fair Value Disclosure	$ 229	$ 2,516
Fair Value, Inputs, Level 2 [Member]
Investments, Fair Value Disclosure	0	0
Fair Value, Inputs, Level 3 [Member]
Investments, Fair Value Disclosure	$ 0	$ 0

Commitment (Details)

Commitment (Details) $ in Thousands	May 31, 2018USD ($)
One year	$ 175
Years 2 through 5	988
Beyond 5 years	18
Total	$ 1,181