Document and Entity Information
Document and Entity Information | 6 Months Ended |
Feb. 28, 2021 | |
Document and Entity Information [Abstract] | |
Entity Registrant Name | PLATINUM GROUP METALS LTD |
Entity Central Index Key | 0001095052 |
Current Fiscal Year End Date | --08-31 |
Document Type | 6-K |
Amendment Flag | false |
Document Period End Date | Feb. 28, 2021 |
Consolidated Statements of Fina
Consolidated Statements of Financial Position - USD ($) $ in Thousands | Feb. 28, 2021 | Aug. 31, 2020 |
Current | ||
Cash | $ 9,787 | $ 1,308 |
Amounts receivable | 436 | 218 |
Prepaid expenses | 320 | 385 |
Total current assets | 10,543 | 1,911 |
Performance bonds and other assets | 145 | 108 |
Mineral Properties and Exploration Assets | 39,642 | 34,939 |
Right to use asset (leased corporate offices) | 144 | 175 |
Property, plant and equipment | 297 | 282 |
Total assets | 50,771 | 37,415 |
Current | ||
Accounts payable and other liabilities | 1,210 | 1,412 |
Bank advisory fees payable | 2,890 | |
Total current liabilities | 1,210 | 4,302 |
Loan payable | 11,051 | 19,337 |
Convertible notes | 18,099 | 17,212 |
Share based liabilities | 1,395 | 509 |
Lease liability | 170 | 198 |
Total liabilities | 31,925 | 41,558 |
SHAREHOLDERS' EQUITY | ||
Share capital | 887,247 | 861,890 |
Contributed surplus | 28,949 | 28,278 |
Accumulated other comprehensive loss | (160,799) | (164,124) |
Deficit | (752,934) | (746,313) |
Total shareholders' equity (deficit) attributable to shareholders of Platinum Group Metals Ltd. | 2,463 | (20,269) |
Non-controlling interest | 16,383 | 16,126 |
Total shareholders' equity (deficit) | 18,846 | (4,143) |
Total liabilities and shareholders' equity | $ 50,771 | $ 37,415 |
Consolidated Statements of Loss
Consolidated Statements of Loss and Comprehensive Loss - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Feb. 28, 2021 | Feb. 29, 2020 | Feb. 28, 2021 | Feb. 29, 2020 | |
Expenses | ||||
General and administrative | $ 1,109 | $ 855 | $ 1,942 | $ 1,909 |
Interest | 1,217 | 1,361 | 2,524 | 2,708 |
Foreign exchange (gain) | (574) | (673) | ||
Foreign exchange loss | 369 | 362 | ||
Share of joint venture expenditures - Lion Battery | 343 | 343 | ||
Stock compensation expense | 1,167 | 492 | 1,607 | 736 |
Total operating expenses | 3,262 | 3,077 | 5,743 | 5,715 |
Other Income | ||||
Loss (Gain) on fair value derivatives and other instruments | 550 | 66 | 558 | (3,063) |
Loss on partial settlement of Sprott Facility | 201 | 300 | ||
Net finance income | (24) | (43) | (48) | (106) |
Net Loss for the period | 3,989 | 3,100 | 6,553 | 2,546 |
Items that may be subsequently reclassified to net loss: | ||||
Currency translation adjustment | (175) | 2,246 | (3,325) | 894 |
Comprehensive loss for the period | 3,814 | 5,346 | 3,228 | 3,440 |
Net Loss attributable to: | ||||
Shareholders of Platinum Group Metals Ltd. | 3,989 | 3,100 | 6,553 | 2,546 |
Non-controlling interests | 0 | 0 | 0 | 0 |
Loss (Gain) | 3,989 | 3,100 | 6,553 | 2,546 |
Comprehensive loss attributable to: | ||||
Shareholders of Platinum Group Metals Ltd. | 3,814 | 5,346 | 3,228 | 3,440 |
Non-controlling interests | 0 | 0 | 0 | 0 |
Comprehensive loss for the period | $ 3,814 | $ 5,346 | $ 3,228 | $ 3,440 |
Basic and diluted loss per common share | $ 0.06 | $ 0.05 | $ 0.09 | $ 0.04 |
Weighted average number of common shares outstanding: Basic and diluted | 71,517,800 | 61,485,929 | 69,417,398 | 60,041,077 |
Consolidated Statements of Chan
Consolidated Statements of Changes in Equity - USD ($) $ in Thousands | Share Capital [Member] | Contributed Surplus [Member] | Accumulated Other Comprehensive Income (loss) [Member] | Deficit [Member] | Attributable to Shareholders of the Parent Company [Member] | Non-Controlling Interest [Member] | Total |
Beginning Balance at Aug. 31, 2019 | $ 855,270 | $ 26,777 | $ (159,637) | $ (739,018) | $ (16,608) | $ 15,451 | $ (1,157) |
Beginning Balance (Shares) at Aug. 31, 2019 | 58,575,787 | ||||||
Statements [Line Items] | |||||||
Stock based compensation | 747 | 747 | $ 747 | ||||
Shares issued for interest on Convertible Notes | 687 | 687 | $ 687 | ||||
Shares issued for interest on Convertible Notes (Shares) | 517,468 | ||||||
Share issuance - financing | 4,000 | 4,000 | $ 4,000 | ||||
Share issuance - financing (Shares) | 3,225,807 | ||||||
Share issuance costs | (284) | (284) | $ (284) | ||||
Warrants exercised | 55 | 55 | $ 55 | ||||
Warrants exercised (shares) | 28,040 | ||||||
Contributions of Waterberg JV Co. | (158) | (158) | 787 | $ 629 | |||
Foreign currency translation adjustment | (894) | (894) | (894) | ||||
Net loss for the period | (2,546) | (2,546) | (2,546) | ||||
Ending Balance at Feb. 29, 2020 | 859,728 | 27,524 | (160,531) | (741,722) | (15,001) | 16,238 | $ 1,237 |
Ending Balance (Shares) at Feb. 29, 2020 | 62,347,102 | ||||||
Statements [Line Items] | |||||||
Stock based compensation | 754 | 754 | $ 754 | ||||
Shares issued for interest on Convertible Notes | 687 | 687 | $ 687 | ||||
Shares issued for interest on Convertible Notes (Shares) | 526,471 | ||||||
Share issuance - financing | 1,705 | 1,705 | $ 1,705 | ||||
Share issuance - financing (Shares) | 1,221,500 | ||||||
Share issuance costs | (230) | (230) | $ (230) | ||||
Contributions of Waterberg JV Co. | (9) | (9) | (112) | (121) | |||
Foreign currency translation adjustment | (3,593) | (3,593) | (3,593) | ||||
Net loss for the period | (4,582) | (4,582) | (4,582) | ||||
Ending Balance at Aug. 31, 2020 | 861,890 | 28,278 | (164,124) | (746,313) | (20,269) | 16,126 | $ (4,143) |
Ending Balance (Shares) at Aug. 31, 2020 | 64,095,073 | ||||||
Statements [Line Items] | |||||||
Stock based compensation | 1,314 | 1,314 | $ 1,314 | ||||
Restricted Share Units redeemed | 103 | (196) | (93) | $ (93) | |||
Restricted Share Units redeemed (Shares) | 92,885 | ||||||
Share options exercised | 1,115 | (447) | 668 | $ 668 | |||
Share options exercised (Shares) | 430,680 | ||||||
Share issuance - financing | 25,325 | 25,325 | $ 25,325 | ||||
Share issuance - financing (Shares) | 9,339,276 | ||||||
Share issuance costs | (1,186) | (1,186) | $ (1,186) | ||||
Contributions of Waterberg JV Co. | (68) | (68) | 257 | 189 | |||
Foreign currency translation adjustment | 3,325 | 3,325 | 3,325 | ||||
Net loss for the period | (6,553) | (6,553) | (6,553) | ||||
Ending Balance at Feb. 28, 2021 | $ 887,247 | $ 28,949 | $ (160,799) | $ (752,934) | $ 2,463 | $ 16,383 | $ 18,846 |
Ending Balance (Shares) at Feb. 28, 2021 | 73,957,914 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 6 Months Ended | |
Feb. 28, 2021 | Feb. 29, 2020 | |
OPERATING ACTIVITIES | ||
Loss for the period | $ (6,553) | $ (2,546) |
Add items not affecting cash: | ||
Depreciation | 61 | 118 |
Interest expense | 2,524 | 2,708 |
Unrealized foreign exchange (loss) | (3) | (244) |
Loss (Gain) on fair value of convertible debt derivatives and other instruments | 558 | (3,063) |
Loss on partial settlement of Sprott Facility | 300 | |
Stock compensation expense | 1,607 | 792 |
Share of joint venture expenditures | 343 | |
Directors fees paid in deferred share units | 75 | |
Net change in non-cash working capital | (2,938) | (571) |
Net cash flows from (used in) operating activities | (4,026) | (2,806) |
FINANCING ACTIVITIES | ||
Share issuance - warrant exercise | 48 | |
Proceeds from issuance of equity | 25,325 | 4,000 |
Equity issuance costs | (1,186) | (284) |
Cash received from option exercises | 668 | |
Sprott Facility principal repayments | (8,670) | |
Sprott Facility interest paid | (982) | (1,117) |
Convertible note interest paid | (693) | |
Lease payments made | (45) | (43) |
Share unit cash settlement | (191) | |
Cash received from Waterberg partners | 665 | 440 |
Net cash flows from (used in) financing activities | 14,891 | 3,044 |
INVESTING ACTIVITIES | ||
Performance bonds | (23) | 19 |
Investment in Lion | (350) | |
Expenditures incurred on Waterberg Project | (1,403) | (3,797) |
Net cash flows from (used in) investing activities | (1,776) | (3,778) |
Net increase (decrease) in cash | 9,089 | (3,540) |
Effect of foreign exchange on cash | (610) | 446 |
Cash, beginning of period | 1,308 | 5,550 |
Cash end of period | $ 9,787 | $ 2,456 |
NATURE OF OPERATIONS AND GOING
NATURE OF OPERATIONS AND GOING CONCERN | 6 Months Ended |
Feb. 28, 2021 | |
Disclosure Of Nature Of Operations And Going Concern [Abstract] | |
NATURE OF OPERATIONS AND GOING CONCERN [Text Block] | 1. NATURE OF OPERATIONS AND GOING CONCERN Platinum Group Metals Ltd. (the " Company TSX NYSE American The Company is development company conducting work on mineral properties it has staked or acquired by way of option agreements in the Republic of South Africa. These financial statements consolidate the accounts of the Company and its subsidiaries Lion Battery Technologies Inc. (" Lion Group Place of Proportion of ownership Name of subsidiary Principal activity February 28, August 31, Platinum Group Metals (RSA) (Pty) Ltd. Development South Africa 100.0% 100.0% Mnombo Wethu Consultants (Pty) Limited (1) Development South Africa 49.9% 49.9% Waterberg JV Resources (Pty) Ltd. (1),(2) Development South Africa 37.05% 37.05% Lion Battery Technologies Inc. (3) Research Canada 53.70% 55.00% Notes: 1 Mnombo Waterberg JV Co. 2 PTM RSA 3 These interim condensed consolidated financial statements have been prepared in accordance with the International Financial Reporting Standards applicable to a going concern which contemplates that the Company will be able to realize its assets and settle its liabilities in the normal course as they come due for the foreseeable future. During the period ended February 28, 2021, the Company incurred a loss of $6.6 million, used cash of $4.0 million in operating activities and at period end had cash of $9.8 million and was indebted $11.3 million pursuant to the Sprott Facility (as defined below). The Sprott Facility is due August 14, 2021 with the Company holding the option to extend the maturity date by one year in exchange for a payment in common shares or cash of three percent of the outstanding principal amount. Additional payments/interest are also due on the Company's Convertible Notes (defined below). The Company currently has limited financial resources and has no sources of operating income at present. In March 2020 the World Health Organization declared the outbreak of COVID-19 Coronavirus a global pandemic. The pandemic and related negative public health developments have adversely affected workforces, economies and financial markets globally, potentially leading to a period of economic downturn. It is not possible for the Company to predict the duration or magnitude of the adverse results of the pandemic and its effects on the Company's business or ability to raise funds. The Company's ability to continue operations in the normal course of business will therefore depend upon its ability to secure additional funding by methods that could include debt refinancing, equity financing, the sale of assets and strategic partnerships. Management believes the Company will be able to secure further funding as required although there can be no assurance that these efforts will be successful. These factors give rise to material uncertainties resulting in substantial doubt as to the ability of the Company to continue to meet its obligations as they come due and hence, the ultimate appropriateness of the use of accounting principles applicable to a going concern. These condensed consolidated interim financial statements do not include adjustments or disclosures that may result should the Company not be able to continue as a going concern. If the going concern assumption were not appropriate for these consolidated financial statements, then adjustments would be required to the carrying value of assets and liabilities, the expenses, the reported comprehensive loss and balance sheet classifications used that would be necessary if the Company were unable to realize its assets and settle its liabilities as a going concern in the normal course of operations. These adjustments could be material. |
BASIS OF PRESENTATION AND SIGNI
BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES | 6 Months Ended |
Feb. 28, 2021 | |
Disclosure Of Basis Of Presentation And Significant Accounting Policies [Abstract] | |
BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES [Text Block] | 2. These condensed consolidated interim financial statements have been prepared in accordance with International Accounting Standard 34, Interim Financial Reporting IAS 34 IASB The Company's significant accounting policies and critical accounting estimates applied in these interim financial statements are the same as those applied in Note 2 of the Company's annual consolidated financial statements as at and for the year ended August 31, 2020. Presentation Currency The Company's presentation currency is the United States Dollar (" USD Foreign Exchange Rates Used Rand/USD R14.7357) CAD/USD C$1.3200) |
MINERAL PROPERTY and EXPLORATIO
MINERAL PROPERTY and EXPLORATION AND EVALUATION ASSETS | 6 Months Ended |
Feb. 28, 2021 | |
Disclosure of exploration and evaluation assets [Abstract] | |
EXPLORATION AND EVALUATION ASSETS [Text Block] | 3. MINERAL PROPERTY and EXPLORATION AND EVALUATION ASSETS Since mid-2015, the Company’s only active mineral property has been the Waterberg Project located on the North Limb of the Bushveld Igneous Complex. During the period as the Waterberg Project was granted its mining right, the Company reclassified the Waterberg Project from being an Exploration and Evaluation Asset to a Development Asset. Total capitalized costs for the Waterberg Project are as follows: Balance, August 31, 2019 $ 36,792 Additions 2,988 Recoveries from 100% Implats funded implementation budget (1,285 ) Foreign exchange movement (3,556 ) Balance, August 31, 2020 $ 34,939 Additions 937 Recoveries from 100% Implats funded implementation budget (220 ) Foreign exchange movement 3,986 Balance February 28, 2021 $ 39,642 Prior to reclassification, the Company performed an impairment test whereby the recoverable amount of Waterberg is compared to the carrying value of the asset and determined that no impairment charge was required. Key assumptions used to assess impairment included the use of spot and 3 year average palladium, platinum and gold prices as well as an 8% discount rate. Waterberg Project At February 28, 2021, the Waterberg Project consisted of granted prospecting rights, applied for prospecting rights and a granted mining right (the “Waterberg Mining Right”) with a combined active project area of 79,188 hectares, located on the Northern Limb of the Bushveld Complex, approximately 85 km north of the town of Mokopane. Of the total project area, 20,532 hectares are covered by the Waterberg Mining Right. A further 58,655 hectares are covered by active prospecting rights. Waterberg JV Co. is currently in process of applying for closure on one inactive prospecting right located north of the known mineralized area, measuring 20,242 hectares. On March 5, 2021 the Company was advised that a notice of appeal to the decision of the South African Department of Mineral Resources (“DMR”) granting the Waterberg Mining Right was filed by a group of individual appellants from a local community. The Company is opposing this appeal. See Note 12. “Subsequent Events” below. The Waterberg Project comprises the former Waterberg joint venture property and the Waterberg extension property. On August 21, 2017, PTM RSA completed the cession of legal title for all Waterberg Project prospecting rights into Waterberg JV Co. after earlier receiving Section 11 approval of the 2 nd JOGMEC BEE Implats Transaction On November 6, 2017, the Company closed a transaction (the " Implats Transaction Implats a) Initial Purchase DFS b) Offtake ROFR c) Purchase and Development Option d) On June 15, 2020, Implats delivered a formal notice of their election not to exercise their Purchase and Development Option due to increased economic uncertainty and reduced risk appetite in the short, medium and long-term as a result of the COVID-19 pandemic. Implats currently retains a 15.0% participating project interest and their Offtake ROFR. The Company retains a controlling 50.02% direct and indirect interest in the project. Implats was responsible for the costs of an implementation budget and work program, as described above, which concluded September 13, 2020. The Company remains the Manager of the Waterberg Project, as directed by the technical committee of the Waterberg JV Co. Acquisition and Development of the Waterberg Project In October 2009, PTM RSA, JOGMEC and Mnombo entered into a joint venture agreement with regard to the Waterberg Project (the " JOGMEC Agreement On November 7, 2011, the Company entered an agreement with Mnombo to acquire 49.9% of the issued and outstanding shares of Mnombo in exchange for a cash payment of R1.2 million and the Company's agreement to pay for Mnombo's 26% share of costs on the Waterberg JV property until the completion of a feasibility study. Mnombo's share of expenditures prior to this agreement, and Mnombo's share of expenditures post DFS, are still owed to the Company ($5.5 million at February 28, 2021). The portion of Mnombo not owned by the Company is accounted for as a non-controlling interest, calculated at $7.1 million at February 28, 2021 ($7.1 million - August 31, 2020). On May 26, 2015, the Company announced a second amendment (the “ 2nd Amendment Under the 2 nd To February 28, 2021, an aggregate total of $76.6 million has been funded by all parties on exploration and engineering on the Waterberg Project. Up until the Waterberg property was transferred to Waterberg JV Company, all costs incurred by other parties were treated as cost recoveries by the Company. |
LION BATTERY TECHNOLOGIES INC.
LION BATTERY TECHNOLOGIES INC. | 6 Months Ended |
Feb. 28, 2021 | |
Disclosure of detailed information about investment property [abstract] | |
LION BATTERY [Text Block] | 4. LION BATTERY TECHNOLOGIES INC. Lion Battery Technologies Inc. (" Lion On July 12, 2019, the Company and Amplats each invested $550 as a first tranche of funding into Lion in exchange for 1,100,000 Lion preferred shares each at a price of $0.50 per share. In June 2020, the Company and Amplats each invested $350 as a second tranche of funding in exchange for 700,000 preferred shares each at a price of $0.50 per share. In February 2021, the Company and Amplats each invested $350 as a third tranche of funding in exchange for 700,000 preferred shares each at a price of $0.50 per share. At February 28, 2021, the Company owned approximately a 54% interest in Lion. On July 12, 2019 Lion entered into a Sponsored Research Agreement (" SRA FIU On August 4, 2020, the U.S. Patent and Trademark Office issued Patent No. 10,734,636 B2 entitled "Battery Cathodes for Improved Stability" to FIU. The patent includes the use of platinum group metals and carbon nanotubes and other innovations in a lithium battery. A second patent related to this was issued in December 2020. Further patents are currently applied for. Under the SRA, Lion Battery has exclusive rights to all intellectual property being developed by FIU including patents granted. Lion is also reviewing several additional and complementary opportunities focused on developing next-generation battery technology using platinum and palladium. The Company accounts for Lion using equity accounting as Lion is jointly controlled with Amplats. Lion pays a fee of $3 per month to the Company for general and administrative services. |
SPROTT LOAN
SPROTT LOAN | 6 Months Ended |
Feb. 28, 2021 | |
Sprott Loans [Abstract] | |
SPROTT LOAN [Text Block] | 5. SPROTT LOAN On August 15, 2019, the Company announced it had entered into a senior secured credit facility with Sprott Private Resource Lending II (Collector), LP (" Sprott Sprott Lenders Sprott Facility The Company is required to maintain certain minimum working capital and cash balances under the Sprott Facility and is in compliance with these covenants at period end. As the Company has a right to defer maturity for one year, the balance due is classified as long term for financial reporting purposes. All fees directly attributable to the Sprott Facility are recorded against the loan balance and amortized using the effective interest method over the life of the loan. In connection with the original principal advance the Company issued Sprott 800,000 common shares worth $1,000. Effective interest of $1,093 was recognized during the six-month period ended February 28, 2021 (February 29, 2020 - $1,392). |
CONVERTIBLE NOTES
CONVERTIBLE NOTES | 6 Months Ended |
Feb. 28, 2021 | |
Disclosure of detailed information about borrowings [abstract] | |
CONVERTIBLE NOTES [Text Block] | 6. CONVERTIBLE NOTES On June 30, 2017, the Company closed a private placement of $20 million aggregate principal amount of convertible senior subordinated notes due in 2022, of which $19.99 million remained outstanding at February 28, 2021 (the "Convertible Notes"). The Convertible Notes bear interest at a rate of 6 7/8% per annum, payable semi-annually on January 1 and July 1 of each year, beginning on January 1, 2018, in cash or at the election of the Company, in common shares of the Company or a combination of cash and common shares, and will mature on July 1, 2022, unless earlier repurchased, redeemed or converted. An additional interest charge of 0.25% for the period January 1, 2018 to March 31, 2018, plus a further 0.25% for the period April 1, 2018 to July 1, 2018, was added to the coupon rate of the Convertible Notes at the Company's election to not file a prospectus and a registration statement for the Convertible Notes with Canadian securities regulatory authorities and with the U.S. Securities and Exchange Commission. After July 1, 2018, at which time the Convertible Notes became freely tradable by holders other than affiliates, the Convertible Notes once again bear interest at the coupon rate of 6 7/8% per annum. Upon maturity the Convertible Notes are to be settled by the Company in cash. The Convertible Notes are convertible at any time prior to maturity at the option of the holder, and conversion may be settled, at the Company's election, in cash, common shares, or a combination of cash and common shares. The initial conversion rate of the Convertible Notes was 1,001.1112 common shares per $1.0 thousand principal amount of Convertible Notes, which is equivalent to an initial conversion price of approximately $0.9989 per common share, representing a conversion premium of approximately 15% above the NYSE American closing sale price for the Company's common shares of $0.8686 per share on June 27, 2017. After giving effect to the December 13, 2018 share consolidation, the conversion rate is 100.1111 per $1.0 thousand which is equivalent to a conversion price of approximately $9.989 per common share. The Convertible Notes contain multiple embedded derivatives (the " Convertible Note Derivatives On January 2, 2018, the Company issued 244,063 common shares in settlement of $0.691 million of bi-annual interest payable on the outstanding Convertible Notes. On July 3, 2018, the Company issued 757,924 common shares in settlement of $0.724 million of bi-annual interest payable on the outstanding Convertible Notes. On January 2, 2019, the Company issued 545,721 common shares in settlement of $0.687 million of bi-annual interest payable on the outstanding Convertible Notes. On July 1, 2019, the Company paid $0.687 million in cash for bi-annual interest payable on the outstanding Convertible Notes. On January 2, 2020, the Company issued 517,468 common shares in settlement of $0.687 million of bi-annual interest payable on the outstanding Convertible Notes. On July 2, 2020, the Company issued 526,471 common shares in settlement of $0.687 million of bi-annual interest payable on the outstanding Convertible Notes. On January 2, 2021, the Company paid $0.687 million in cash for bi-annual interest payable on the outstanding Convertible Notes. Due to a limitation on conversion contained in the indenture governing the Convertible Notes, dated June 30, 2017 between the Company and The Bank of New York Mellon, no more than 2,954,278 common shares, being 19.9% of the number of common shares outstanding on June 30, 2017, may be issued in settlement of interest payments or conversions related to the Convertible Notes. Currently, a total of 361,312 common shares remain available for settlement of future interest payments or conversions. The components of the Convertible Notes are as follows: Convertible Note balance August 31, 2019 $ 16,075 Interest payments (1,374 ) Accretion and interest incurred during the year 2,668 Gain on embedded derivatives during the year ended August 31, 2020 (157 ) Convertible Note balance August 31, 2020 $ 17,212 Interest payment (687 ) Accretion and interest incurred during the period 1,426 Loss on embedded derivatives 148 Convertible Note balance $ 18,099 Embedded Derivatives The Convertible Note Derivatives were valued upon initial recognition at a fair value of $5.381 million using partial differential equation methods and are subsequently re-measured at fair value at each period-end through the consolidated statement of net loss and comprehensive loss.The fair value of the Convertible Note Derivatives was measured at $188 at February 28, 2021 and $40 at August 31, 2020 resulting in a loss of $148 for the period. |
SHARE CAPITAL
SHARE CAPITAL | 6 Months Ended |
Feb. 28, 2021 | |
Disclosure of classes of share capital [abstract] | |
SHARE CAPITAL [Text Block] | 7. SHARE CAPITAL (a) Unlimited common shares without par value. (b) At February 28, 2021, the Company had 73,957,914 common shares outstanding. Fiscal 2021 At February 28, 2021, the Company recorded a loss of $558 on the revaluation of embedded derivatives and vested DSUs (February 29, 2020 - $17 Gain). Combined with $ Nil On February 5, 2021, the Company entered into a second at-the-market offering (the " 2021 ATM On December 8, 2020, the Company closed a non-brokered private placement with Deepkloof Limited ("Deepkloof"), a subsidiary of existing major shareholder Hosken Consolidated Investments Limited ("HCI") for 1,121,076 common shares at a price of $2.23 each for gross proceeds of $2.5 million maintaining, HCI's ownership in the Company at approximately 31% at the time. On November 30, 2020, the Company finished the sale of common shares pursuant to an at-the-market offering (the “2020 ATM”). Final sales were settled, and the 2020 ATM completed, on December 2, 2020. An aggregate of 5,440,186 common shares were sold at an average price of $2.21 for gross proceeds of $12.0 million. Total fees and expenses of $592 were incurred, including brokerage fees of $300. On October 15, 2020, the Company closed a non-brokered private placement for 1,146,790 common shares at a price of $2.18 each for gross proceeds of $2.5 million. All shares were subscribed for by Deepkloof, maintaining HCI's ownership in the Company at approximately 31% at that time. Fiscal 2020 On July 2, 2020, the Company issued 526,471 common shares in settlement of $687 of bi-annual interest payable on $19.99 million of outstanding Convertible Notes. On June 17, 2020, the Company closed a non-brokered private placement for 1,221,500 common shares at a price of $1.40 each for gross proceeds of $1.7 million, of which 500,000 common shares were subscribed for by HCI, bringing HCI's ownership in the Company to approximately 32%. A 6% finders fee in the amount of $38 was paid on a portion of this private placement. On January 2, 2020, the Company issued 517,468 shares in settlement of $0.687 million of bi-annual interest payable on $19.99 million outstanding on the Convertible Notes. On December 19, 2019, the Company closed a non-brokered private placement for 3,225,807 common shares at a price of $1.24 each for gross proceeds of $4.0 million, of which 1,612,931 common shares were subscribed for by Deepkloof on behalf of HCI. A 6% finders fee in the amount of $54 was paid on a portion of this private placement. Prior to their expiry on November 15, 2019, the Company issued 28,040 shares upon the exercise of 28,040 warrants. (c) The Company has entered into Incentive Stock Option Agreements under the terms of its share compensation plan with directors, officers, consultants and employees. Under the terms of the stock option agreements, the exercise price of each option is set, at a minimum, at the fair value of the common shares at the date of grant. Stock options of the Company are subject to vesting provisions. All exercise prices are denominated in Canadian Dollars. The following tables summarize the Company's outstanding stock options: Number of Share Options Average Exercise Price in CAD Options outstanding at August 31, 2019 1,554,000 $ 2.61 Granted 1,628,500 $ 1.81 Options outstanding at August 31, 2020 3,182,500 $ 2.20 Granted 1,497,500 $ 6.58 Cancelled (113,336) $ 2.28 Exercised (430,680) $ 1.97 Options outstanding at February 28, 2021 4,135,984 $ 2.20 Number Outstanding Number Exercisable Exercise Price in Average Remaining 1,497,500 — $ 6.58 4.80 1,398,632 429,299 $ 2.61 3.11 1,239,852 200,852 $ 1.81 3.76 4,135,984 630,151 3.92 During the period ended February 28, 2021, the Company granted 1,497,500 stock options. The stock options granted during the period vest in three tranches on the first, second and third anniversary of their grant. During the year ended August 31, 2020, the Company granted 1,628,500 stock options. The stock options granted during the year vest in three tranches on the first, second and third anniversary of their grant. During the six month period ended February 28, 2021, the Company recorded $1,036 of stock compensation expense (February 29, 2020 - $570), of which $947 was expensed (February 29, 2020 - $505) and $89 was capitalized to mineral properties (February 29, 2020 - $65). (d) The Company has established a deferred share unit (" DSU The DSU liability recognized at February 28, 2021 was $1,395. During the period ended February 28, 2021 an expense of $498 was recorded in relation to outstanding DSU's (February 29, 2020 - $124), with $424 recorded as share-based compensation (February 29, 2020 - $67) and $75 recorded as director fees (February 29, 2020 - $57). During the period ended February 28, 2021 fully vested DSU's were revalued and an additional $421 of expense was recorded to reflect the increased value of the fully vested DSU's due to the Company's share price appreciation. At February 28, 2021, a total of 483,693 DSU's were issued and outstanding, of which 245,773 DSU's had vested. (e) The Company has established an a restricted share unit (" RSU The recognised RSU liability at February 28, 2021 was $521. During the six-month period ended February 28, 2021, a stock compensation expense of $268 was recorded (February 29, 2020 - $177) of which $237 expensed (February 29, 2020 - $150) and $31 was capitalized (February 29, 2020 - $27). During the period, 119,394 RSU's were settled and 24,188 were cancelled. At February 28, 2021, 551,575 RSU's were issued and outstanding, with 36,720 of these being vested. |
RELATED PARTY TRANSACTIONS
RELATED PARTY TRANSACTIONS | 6 Months Ended |
Feb. 28, 2021 | |
Disclosure of transactions between related parties [abstract] | |
RELATED PARTY TRANSACTIONS [Text Block] | 8. RELATED PARTY TRANSACTIONS All amounts receivable and amounts payable owing to or from related parties are non-interest bearing with no specific terms of repayment. Transactions with related parties are in the normal course of business and are recorded at consideration established and agreed to by the parties. Transactions with related parties are as follows: (a) (b) (c) In May 2018, Deepkloof made a strategic investment in the Company by way of participation in a public offering and a private placement. Through the terms of the May 2018 private placement HCI acquired a right to nominate one person to the board of directors of the Company and a right to participate in future equity financings of the Company to maintain its pro-rata interest. HCI has exercised its right to nominate one person to the board of directors. A summary of HCI's share acquisitions form the Company follows: Common Shares Acquired from the Company by HCI Date Placee Shares Price USD Acquisition Method May 2018 Deepkloof 2,490,900 $1.50 Prospectus Offering May 2018 Deepkloof 1,509,099 $1.50 Private Placement February 2019 Deepkloof 2,141,942 $1.33 Private Placement April 2019 Deepkloof 177,000 $1.70 Exercise of Warrants June 2019 Deepkloof 80,000 $1.70 Exercise of Warrants June 2019 Deepkloof 1,111,111 $1.17 Private Placement August 2019 Deepkloof 6,940,000 $1.32 Private Placement August 2019 Deepkloof 2,856,000 $1.25 Prospectus Offering December 2019 Deepkloof 1,612,931 $1.24 Private Placement June 2020 Deepkloof 500,000 $1.40 Private Placement October 2020 Deepkloof 1,146,790 $2.18 Private Placement December 2020 Deepkloof 1,121,076 $2.23 Private Placement 21,686,849 During 2018 and 2019, HCI also acquired 663,005 shares of the Company in the public market. During the month of February 2021, HCI reported the sale of 757,833 common shares of the Company. At February 28, 2021, HCI's ownership of the Company was reported at 21,592,021 common shares, representing a 29.2% interest in the Company. |
CONTINGENCIES AND COMMITMENTS
CONTINGENCIES AND COMMITMENTS | 6 Months Ended |
Feb. 28, 2021 | |
Disclosure of contingent liabilities [abstract] | |
CONTINGENCIES AND COMMITMENTS [Text Block] | 9. CONTINGENCIES AND COMMITMENTS The Company's remaining minimum payments under its office and equipment lease agreements in Canada and South Africa total approximately $280 to March 2022. From period end the Company's aggregate commitments are as follows: Payments Due by Year < 1 Year 1 - 3 Years 4 - 5 Years > 5 Years Total Lease Obligations $ 98 $ 182 $ — $ — $ 280 Convertible Notes (Note 6) (1) 1,374 20,677 — — 22,051 Sprott Facility (Note 5) (1),(2) 11,964 — — — 11,964 Totals $ 13,436 $ 20,859 $ — $ — $ 34,295 Notes: 1 2 Africa Wide Legal Action In April 2018, the Company completed a transaction whereby Maseve Investments 11 (Pty) Ltd. ("Maseve") was acquired (the "Maseve Sale Transaction") by Royal Bafokeng Platinum Ltd. ("RBPlats"). Maseve owned and operated the Maseve Mine. In September 2018 the Company reported receipt of a summons issued by Africa Wide Mineral Prospecting and Exploration Proprietary Limited ("Africa Wide") whereby Africa Wide instituted legal proceedings in South Africa against PTM RSA, RBPlats and Maseve in relation to the Maseve Sale Transaction. Africa Wide held 17.1% of the shares in Maseve prior to completion of the Maseve Sale Transaction. Africa Wide is seeking, at this late date, to set aside or be paid increased value for, the closed Maseve Sale Transaction. RBPlats consulted with senior counsel, both during the negotiation of the Maseve Sale Transaction and in regard to the current Africa Wide legal proceedings. The Company has received legal advice to the effect that the Africa Wide action is factually and legally defective. Various statements and documents are expected to be filed during calendar 2021 and a provisional trial date has been allocated for the period October 4 to October 12, 2021. Bank Advisory Fees Payable Certain deferred bank advisory fees related to the Maseve Sale Transaction and the Implats Transaction became payable as soon as practicable after the Company repaid a $40 million secured loan facility due to Liberty Metals & Mining Holdings, LLC, which was repaid on August 21, 2019. During the period, the Company paid the deferred bank advisory fees in full. |
SUPPLEMENTARY CASH FLOW INFORMA
SUPPLEMENTARY CASH FLOW INFORMATION | 6 Months Ended |
Feb. 28, 2021 | |
Supplementary Cash Flow Information [Abstract] | |
SUPPLEMENTARY CASH FLOW INFORMATION [Text Block] | 10. SUPPLEMENTARY CASH FLOW INFORMATION Net change in non-cash working capital: Period ended February 28, February 29, Amounts receivable, prepaid expenses and other assets $ (124 ) $ 179 Payment of bank advisory fees 1 (2,890 ) — Accounts payable and other liabilities 76 (750 ) $ (2,938 ) $ (571 ) 1 |
SEGMENTED REPORTING
SEGMENTED REPORTING | 6 Months Ended |
Feb. 28, 2021 | |
Disclosure of operating segments [abstract] | |
SEGMENTED REPORTING [Text Block] | 11. SEGMENTED REPORTING Segmented information is provided on the basis of geographical segments as the Company manages its business and exploration activities through two geographical regions - Canada and South Africa. The Chief Operating Decision Makers (" CODM The Company evaluates performance of its operating and reportable segments as noted in the following table: At February 28, 2021 Assets Liabilities Canada $ 10,780 $ 31,558 South Africa 39,991 367 $ 50,771 $ 31,925 At August 31, 2020 Assets Liabilities Canada $ 2,101 $ 40,922 South Africa 35,314 636 $ 37,415 $ 41,558 Comprehensive Loss (Income) for the period ended February 29, February 29, Canada $ 7,974 $ 2,973 South Africa (4,746 ) 467 $ 3,228 $ 3,440 |
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS | 6 Months Ended |
Feb. 28, 2021 | |
Disclosure Of Nonadjusting Events After Reporting Period Abstract | |
SUBSEQUENT EVENTS [Text Block] | 12. SUBSEQUENT EVENTS A notice to appeal the decision granting Waterberg JV Co. a mining right for the Waterberg Project was received by the Company on March 5, 2021. The notice was filed by a group of individual appellants from a local community. The DMR granted the Waterberg Mining Right on January 28, 2021. The Company believes that all requirements specified under the Mineral and Petroleum Resources Development Act (“ MPRDA |
BASIS OF PRESENTATION AND SIG_2
BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES (Policies) | 6 Months Ended |
Feb. 28, 2021 | |
Disclosure Of Basis Of Presentation And Significant Accounting Policies [Abstract] | |
Presentation Currency [Policy Text Block] | Presentation Currency The Company's presentation currency is the United States Dollar (" USD |
Foreign Exchange Rates Used [Policy Text Block] | Foreign Exchange Rates Used Rand/USD R14.7357) CAD/USD C$1.3200) |
NATURE OF OPERATIONS AND GOIN_2
NATURE OF OPERATIONS AND GOING CONCERN (Tables) | 6 Months Ended |
Feb. 28, 2021 | |
Disclosure Of Nature Of Operations And Going Concern [Abstract] | |
Disclosure of subsidiaries [Table Text Block] | Place of Proportion of ownership Name of subsidiary Principal activity February 28, August 31, Platinum Group Metals (RSA) (Pty) Ltd. Development South Africa 100.0% 100.0% Mnombo Wethu Consultants (Pty) Limited (1) Development South Africa 49.9% 49.9% Waterberg JV Resources (Pty) Ltd. (1),(2) Development South Africa 37.05% 37.05% Lion Battery Technologies Inc. (3) Research Canada 53.70% 55.00% Notes: 1 Mnombo Waterberg JV Co. 2 PTM RSA 3 |
BASIS OF PRESENTATION AND SIG_3
BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES (Tables) | 6 Months Ended |
Feb. 28, 2021 | |
Disclosure Of Basis Of Presentation And Significant Accounting Policies [Abstract] | |
Disclosure of detailed information about foreign exchange rates used [Table Text Block] | Rand/USD R14.7357) CAD/USD C$1.3200) |
MINERAL PROPERTY and EXPLORAT_2
MINERAL PROPERTY and EXPLORATION AND EVALUATION ASSETS (Tables) | 6 Months Ended |
Feb. 28, 2021 | |
Disclosure of exploration and evaluation assets [Abstract] | |
Disclosure of detailed information about exploration and evaluation assets [Table Text Block] | Balance, August 31, 2019 $ 36,792 Additions 2,988 Recoveries from 100% Implats funded implementation budget (1,285 ) Foreign exchange movement (3,556 ) Balance, August 31, 2020 $ 34,939 Additions 937 Recoveries from 100% Implats funded implementation budget (220 ) Foreign exchange movement 3,986 Balance February 28, 2021 $ 39,642 |
CONVERTIBLE NOTES (Tables)
CONVERTIBLE NOTES (Tables) | 6 Months Ended |
Feb. 28, 2021 | |
Disclosure of detailed information about borrowings [abstract] | |
Disclosure of detailed information about borrowings [Table Text Block] | Convertible Note balance August 31, 2019 $ 16,075 Interest payments (1,374 ) Accretion and interest incurred during the year 2,668 Gain on embedded derivatives during the year ended August 31, 2020 (157 ) Convertible Note balance August 31, 2020 $ 17,212 Interest payment (687 ) Accretion and interest incurred during the period 1,426 Loss on embedded derivatives 148 Convertible Note balance $ 18,099 |
SHARE CAPITAL (Tables)
SHARE CAPITAL (Tables) | 6 Months Ended |
Feb. 28, 2021 | |
Disclosure of classes of share capital [abstract] | |
Disclosure of number and weighted average exercise prices of share options [Table Text Block] | Number of Share Options Average Exercise Price in CAD Options outstanding at August 31, 2019 1,554,000 $ 2.61 Granted 1,628,500 $ 1.81 Options outstanding at August 31, 2020 3,182,500 $ 2.20 Granted 1,497,500 $ 6.58 Cancelled (113,336) $ 2.28 Exercised (430,680) $ 1.97 Options outstanding at February 28, 2021 4,135,984 $ 2.20 |
Disclosure of number and weighted average remaining contractual life of outstanding share options [Table Text Block] | Number Outstanding Number Exercisable Exercise Price in Average Remaining 1,497,500 — $ 6.58 4.80 1,398,632 429,299 $ 2.61 3.11 1,239,852 200,852 $ 1.81 3.76 4,135,984 630,151 3.92 |
RELATED PARTY TRANSACTIONS (Tab
RELATED PARTY TRANSACTIONS (Tables) | 6 Months Ended |
Feb. 28, 2021 | |
Disclosure of transactions between related parties [abstract] | |
Disclosure of transactions between related parties [Table Text Block] | Common Shares Acquired from the Company by HCI Date Placee Shares Price USD Acquisition Method May 2018 Deepkloof 2,490,900 $1.50 Prospectus Offering May 2018 Deepkloof 1,509,099 $1.50 Private Placement February 2019 Deepkloof 2,141,942 $1.33 Private Placement April 2019 Deepkloof 177,000 $1.70 Exercise of Warrants June 2019 Deepkloof 80,000 $1.70 Exercise of Warrants June 2019 Deepkloof 1,111,111 $1.17 Private Placement August 2019 Deepkloof 6,940,000 $1.32 Private Placement August 2019 Deepkloof 2,856,000 $1.25 Prospectus Offering December 2019 Deepkloof 1,612,931 $1.24 Private Placement June 2020 Deepkloof 500,000 $1.40 Private Placement October 2020 Deepkloof 1,146,790 $2.18 Private Placement December 2020 Deepkloof 1,121,076 $2.23 Private Placement 21,686,849 |
CONTINGENCIES AND COMMITMENTS (
CONTINGENCIES AND COMMITMENTS (Tables) | 6 Months Ended |
Feb. 28, 2021 | |
Disclosure of contingent liabilities [abstract] | |
Disclosure of detailed information about commitments [Table Text Block] | Payments Due by Year < 1 Year 1 - 3 Years 4 - 5 Years > 5 Years Total Lease Obligations $ 98 $ 182 $ — $ — $ 280 Convertible Notes (Note 6) (1) 1,374 20,677 — — 22,051 Sprott Facility (Note 5) (1),(2) 11,964 — — — 11,964 Totals $ 13,436 $ 20,859 $ — $ — $ 34,295 Notes: 1 2 |
SUPPLEMENTARY CASH FLOW INFOR_2
SUPPLEMENTARY CASH FLOW INFORMATION (Tables) | 6 Months Ended |
Feb. 28, 2021 | |
Supplementary Cash Flow Information [Abstract] | |
Disclosure of detailed information about non-cash working capital [Table Text Block] | Period ended February 28, February 29, Amounts receivable, prepaid expenses and other assets $ (124 ) $ 179 Payment of bank advisory fees 1 (2,890 ) — Accounts payable and other liabilities 76 (750 ) $ (2,938 ) $ (571 ) 1 |
SEGMENTED REPORTING (Tables)
SEGMENTED REPORTING (Tables) | 6 Months Ended |
Feb. 28, 2021 | |
Disclosure of operating segments [abstract] | |
Disclosure of operating segments [Table Text Block] | At February 28, 2021 Assets Liabilities Canada $ 10,780 $ 31,558 South Africa 39,991 367 $ 50,771 $ 31,925 At August 31, 2020 Assets Liabilities Canada $ 2,101 $ 40,922 South Africa 35,314 636 $ 37,415 $ 41,558 Comprehensive Loss (Income) for the period ended February 29, February 29, Canada $ 7,974 $ 2,973 South Africa (4,746 ) 467 $ 3,228 $ 3,440 |
NATURE OF OPERATIONS AND GOIN_3
NATURE OF OPERATIONS AND GOING CONCERN (Narrative) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||||
Feb. 28, 2021 | Feb. 29, 2020 | Feb. 28, 2021 | Aug. 31, 2020 | Feb. 29, 2020 | Aug. 31, 2019 | |
Disclosure Of Nature Of Operations And Going Concern [Line Items] | ||||||
(Loss) Income for the period | $ (3,989) | $ (3,100) | $ (6,553) | $ (4,582) | $ (2,546) | |
Cash used in operating activities | (4,026) | (2,806) | ||||
Cash | 9,787 | $ 2,456 | $ 9,787 | $ 1,308 | $ 2,456 | $ 5,550 |
Waterberg JV Co. [Member] | ||||||
Disclosure Of Nature Of Operations And Going Concern [Line Items] | ||||||
Effective ownership proportion after combined ownership of Mnombo's ownership portion with Platinum Group Metals (RSA) (Pty) Ltd | 63.05% | |||||
Sprott Loan Facility [Member] | ||||||
Disclosure Of Nature Of Operations And Going Concern [Line Items] | ||||||
Borrowings | $ 11,300 | $ 11,300 |
NATURE OF OPERATIONS AND GOIN_4
NATURE OF OPERATIONS AND GOING CONCERN - Disclosure of subsidiaries (Details) | Nov. 06, 2017 | Nov. 07, 2011 | Apr. 30, 2012 | Feb. 28, 2021 | Aug. 31, 2020 |
Platinum Group Metals (RSA) (Pty) Ltd. [Member] | |||||
Disclosure Of Nature Of Operations And Going Concern [Line Items] | |||||
Proportion of ownership interest | 100.00% | 100.00% | |||
Mnombo Wethu Consultants (Pty) Limited [Member] | |||||
Disclosure Of Nature Of Operations And Going Concern [Line Items] | |||||
Proportion of ownership interest | 49.90% | 49.90% | 49.90% | 49.90% | |
Waterberg JV Resources (Pty) Ltd. [Member] | |||||
Disclosure Of Nature Of Operations And Going Concern [Line Items] | |||||
Proportion of ownership interest | 37.00% | 37.05% | 37.05% | ||
Lion Battery Technologies Inc. [Member] | |||||
Disclosure Of Nature Of Operations And Going Concern [Line Items] | |||||
Proportion of ownership interest | 53.70% | 55.00% |
BASIS OF PRESENTATION AND SIG_4
BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES - Disclosure of detailed information about foreign exchange rates used (Details) | 6 Months Ended | ||
Feb. 28, 2021CAD_USDRand_USD | Feb. 29, 2020CAD_USDRand_USD | Aug. 31, 2020CAD_USDRand_USD | |
Rand / USD [Member] | |||
Foreign Exchange Rates [Line Items] | |||
Period end rate | Rand_USD | 15.0958 | 16.8916 | |
Period average rate | Rand_USD | 15.5977 | 14.7357 | |
CAD / USD [Member] | |||
Foreign Exchange Rates [Line Items] | |||
Period end rate | CAD_USD | 1.2685 | 1.3042 | |
Period average rate | CAD_USD | 1.2962 | 1.3200 |
MINERAL PROPERTY and EXPLORAT_3
MINERAL PROPERTY and EXPLORATION AND EVALUATION ASSETS (Narrative) (Details) $ in Thousands, R in Millions | Nov. 06, 2017USD ($) | Nov. 07, 2011ZAR (R) | Jun. 15, 2020 | Sep. 21, 2017 | Apr. 30, 2012USD ($) | Feb. 28, 2021USD ($) | Feb. 29, 2020USD ($) | Aug. 31, 2020USD ($) | Mar. 31, 2018USD ($) | Mar. 31, 2016USD ($) | Feb. 28, 2021USD ($) |
Disclosure Of Exploration And Evaluation Assets [Line Items] | |||||||||||
Discount rate used to assess impairment | 8.00% | 8.00% | |||||||||
Non-controlling interest | $ 16,383 | $ 16,126 | $ 16,383 | ||||||||
Capital commitments | 34,295 | 34,295 | |||||||||
Payments for exploration and evaluation expenses | 1,403 | $ 3,797 | |||||||||
Waterberg Project [Member] | |||||||||||
Disclosure Of Exploration And Evaluation Assets [Line Items] | |||||||||||
Proportion of ownership interest | 37.05% | 45.65% | |||||||||
Purchase agreement amount | $ 17,200 | ||||||||||
Restricted Cash - Waterberg | $ 5,000 | ||||||||||
Payments for exploration and evaluation expenses | 76,600 | ||||||||||
JOGMEC [Member] | Waterberg Project [Member] | |||||||||||
Disclosure Of Exploration And Evaluation Assets [Line Items] | |||||||||||
Proportion of ownership and voting rights held by non-controlling interests | 21.95% | 28.35% | |||||||||
Purchase agreement amount | $ 12,800 | ||||||||||
Decrease in proportion of ownership, interest sold | 6.40% | ||||||||||
Acquisition of interest, work requirement | $ 3,200 | ||||||||||
Acquisition of interest, work requirement, interest | 37.00% | ||||||||||
Capital commitments | $ 20,000 | 20,000 | |||||||||
Proceeds from funds advanced for exploration and evaluation expenses | $ 6,000 | $ 8,000 | |||||||||
JOGMEC [Member] | Purchase and Development Option [Member] | Waterberg Project [Member] | |||||||||||
Disclosure Of Exploration And Evaluation Assets [Line Items] | |||||||||||
Decrease in proportion of ownership, interest sold | 12.195% | ||||||||||
Mnombo Wethu Consultants (Pty) Limited [Member] | |||||||||||
Disclosure Of Exploration And Evaluation Assets [Line Items] | |||||||||||
Proportion of ownership interest | 49.90% | 49.90% | 49.90% | 49.90% | |||||||
Purchase agreement amount | R | R 1.2 | ||||||||||
Non-controlling interest | $ 7,100 | $ 7,100 | 7,100 | ||||||||
Subsequent expenditures on non-JV property receivable | $ 5,500 | $ 5,500 | |||||||||
Mnombo Wethu Consultants (Pty) Limited [Member] | Waterberg Project [Member] | |||||||||||
Disclosure Of Exploration And Evaluation Assets [Line Items] | |||||||||||
Proportion of ownership and voting rights held by non-controlling interests | 26.00% | 26.00% | 26.00% | ||||||||
Expense arising from exploration and evaluation of mineral resources | $ 1,120 | ||||||||||
Implats [Member] | Waterberg Project [Member] | |||||||||||
Disclosure Of Exploration And Evaluation Assets [Line Items] | |||||||||||
Proportion of ownership, purchase agreement amount | 15.00% | 15.00% | |||||||||
Purchase agreement amount | $ 30,000 | ||||||||||
Decrease in proportion of ownership, interest sold | 8.60% | ||||||||||
Implats [Member] | Purchase and Development Option [Member] | Waterberg Project [Member] | |||||||||||
Disclosure Of Exploration And Evaluation Assets [Line Items] | |||||||||||
Proportion of ownership, purchase agreement amount | 50.01% | ||||||||||
Purchase agreement amount | $ 34,800 | ||||||||||
Amount committed towards pro rata share of remaining DFS costs | $ 130,200 | ||||||||||
Waterberg JV Co. [Member] | |||||||||||
Disclosure Of Exploration And Evaluation Assets [Line Items] | |||||||||||
Proportion of ownership interest | 37.00% | 37.05% | 37.05% | ||||||||
Proportion of ownership and voting rights held by non-controlling interests | 26.00% | ||||||||||
Effective proportion of ownership interest in subsidiary | 50.02% | 50.02% | |||||||||
Waterberg JV Co. [Member] | Purchase and Development Option [Member] | |||||||||||
Disclosure Of Exploration And Evaluation Assets [Line Items] | |||||||||||
Exploration and evaluation expenses recovered | $ 1,500 |
MINERAL PROPERTY and EXPLORAT_4
MINERAL PROPERTY and EXPLORATION AND EVALUATION ASSETS - Disclosure of detailed information about exploration and evaluation assets (Details) - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended |
Feb. 28, 2021 | Aug. 31, 2020 | |
Disclosure of exploration and evaluation assets [Abstract] | ||
Exploration and evaluation assets, beginning of period | $ 34,939 | $ 36,792 |
Additions | 937 | 2,988 |
Recoveries from 100% Implats funded implementation budget | (220) | (1,285) |
Foreign exchange movement | 3,986 | (3,556) |
Exploration and evaluation assets, end of period | $ 39,642 | $ 34,939 |
LION BATTERY TECHNOLOGIES INC.
LION BATTERY TECHNOLOGIES INC. (Narrative) (Details) - USD ($) $ / shares in Units, $ in Thousands | Jul. 12, 2019 | Jun. 30, 2020 | Feb. 28, 2021 |
Lion Battery Technologies Inc. [Member] | |||
Disclosure of detailed information about investment property [line items] | |||
Additional number of common stock issued for investment | 400,000 | ||
Additional common stock price per share | $ 0.01 | ||
Maximum investment in new venture | $ 4,000 | ||
Amount of investment allocated to general and administrative expenses | 1,000 | ||
Preferred stock received for investment, value | $ 550 | $ 350 | $ 350 |
Preferred stock received for investment | 1,100,000 | 700,000 | 700,000 |
Preferred stock price per share | $ 0.50 | $ 0.50 | $ 0.50 |
Proportion of ownership interest in joint venture | 54.00% | ||
Payment of fees per month | $ 3 | ||
Florida International University [Member] | |||
Disclosure of detailed information about investment property [line items] | |||
Amount funded to research program | $ 3,000 | $ 2,380 | |
First tranche funding [Member] | Lion Battery Technologies Inc. [Member] | |||
Disclosure of detailed information about investment property [line items] | |||
Amount funded to research program | 1,000 | ||
One-time fee | 50 | ||
Second Tranche of Funding in August 2020 [Member] | Lion Battery Technologies Inc. [Member] | |||
Disclosure of detailed information about investment property [line items] | |||
Amount funded to research program | 667 | ||
Third Tranche of Funding in January 2021 [Member] | Lion Battery Technologies Inc. [Member] | |||
Disclosure of detailed information about investment property [line items] | |||
Amount funded to research program | $ 667 |
SPROTT LOAN (Narrative) (Detail
SPROTT LOAN (Narrative) (Details) - USD ($) $ in Thousands | Aug. 15, 2019 | Feb. 28, 2021 | Feb. 29, 2020 |
Sprott Loans [Line Items] | |||
Repayments of principal amount | $ 8,670 | ||
Shares issued for loan facility (Shares) | 800,000 | ||
Shares issued for loan facility | $ 1,000 | ||
Sprott Facility [Member] | |||
Sprott Loans [Line Items] | |||
Advanced amount of principal senior secured credit facility | $ 20,000 | ||
Description of loan secured credit facility | The loan was immediately drawn and matures August 14, 2021, with the Company holding the option to extend the maturity date by one year in exchange for a payment in common shares or cash equal to three percent of the outstanding principal amount | ||
Loan facility interest rate | 11% | ||
Repayments of principal amount | 8,700 | ||
Principal amount outstanding | 11,300 | ||
Payment for monthly interest charge | 964 | $ 1,117 | |
Interest expense on borrowings | $ 1,093 | $ 1,392 |
CONVERTIBLE NOTES (Narrative) (
CONVERTIBLE NOTES (Narrative) (Details) - USD ($) $ in Thousands | Jul. 02, 2020 | Jan. 02, 2020 | Jul. 01, 2019 | Jan. 02, 2019 | Jul. 03, 2018 | Jan. 02, 2018 | Jan. 02, 2021 | Jun. 30, 2017 | Feb. 28, 2021 | Feb. 29, 2020 | Feb. 28, 2021 | Aug. 31, 2020 | Feb. 29, 2020 | Jul. 01, 2018 | Mar. 31, 2018 |
Disclosure of detailed information about borrowings [line items] | |||||||||||||||
Shares issued for interest on Convertible Notes (Shares) | 526,471 | 517,468 | |||||||||||||
Shares issued for interest on convertible note | $ 687 | $ 687 | |||||||||||||
Gain (Loss) on fair value of convertible debt derivatives and warrants | $ (550) | $ (66) | $ (558) | $ 3,063 | |||||||||||
Convertible Notes [Member] | |||||||||||||||
Disclosure of detailed information about borrowings [line items] | |||||||||||||||
Borrowings | $ 19,990 | $ 19,990 | $ 20,000 | 19,990 | $ 19,990 | ||||||||||
Convertible notes interest rate | 6 7/8% | ||||||||||||||
Borrowings, adjustment to interest rate basis | 0.25% | 0.25% | |||||||||||||
Description of conversion of debt to equity | The initial conversion rate of the Convertible Notes was 1,001.1112 common shares per $1.0 thousand principal amount of Convertible Notes, which is equivalent to an initial conversion price of approximately $0.9989 per common share, representing a conversion premium of approximately 15% above the NYSE American closing sale price for the Company's common shares of $0.8686 per share on June 27, 2017. After giving effect to the December 13, 2018 share consolidation, the conversion rate is 100.1111 per $1.0 thousand which is equivalent to a conversion price of approximately $9.989 per common share. | ||||||||||||||
Convertible Note Derivatives | $ 5,381 | $ 188 | $ 188 | 40 | |||||||||||
Transaction costs | 1,049 | ||||||||||||||
Value attributed to debt portion of convertible notes | $ 13,570 | ||||||||||||||
Shares issued for interest on Convertible Notes (Shares) | 526,471 | 517,468 | 545,721 | 757,924 | 244,063 | ||||||||||
Shares issued for interest on convertible note | $ 687 | $ 687 | $ 687 | $ 724 | $ 691 | ||||||||||
Payments for interest on convertible notes | $ 687 | $ 687 | |||||||||||||
Maximum common shares issued in settlement of interest payments or conversions | 2,954,278 | ||||||||||||||
Percentage of maximum common shares issued in settlement of interest payments or conversions, percentage of outstanding shares | 19.90% | ||||||||||||||
Potentially issuable in settlement of future interest payments or conversions | 361,312 | ||||||||||||||
Gain (Loss) on fair value of convertible debt derivatives and warrants | $ (148) |
CONVERTIBLE NOTES - Disclosure
CONVERTIBLE NOTES - Disclosure of detailed information about borrowings (Details) - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended |
Feb. 28, 2021 | Aug. 31, 2020 | |
Disclosure of detailed information about borrowings [line items] | ||
Convertible Notes, beginning balance | $ 17,212 | |
Convertible Notes, ending balance | 18,099 | $ 17,212 |
Convertible Notes [Member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Convertible Notes, beginning balance | 17,212 | 16,075 |
Interest payments | (687) | (1,374) |
Accretion and interest incurred during the year | 1,426 | 2,668 |
(Gain) Loss on embedded derivatives | 148 | (157) |
Convertible Notes, ending balance | $ 18,099 | $ 17,212 |
SHARE CAPITAL (Narrative) (Deta
SHARE CAPITAL (Narrative) (Details) $ / shares in Units, $ in Thousands | Dec. 08, 2020USD ($)$ / sharesshares | Oct. 15, 2020USD ($)$ / sharesshares | Jul. 02, 2020USD ($)shares | Jan. 02, 2020USD ($)shares | Jan. 02, 2019USD ($)shares | Jul. 03, 2018USD ($)shares | Jan. 02, 2018USD ($)shares | Nov. 30, 2020$ / shares | Nov. 30, 2020USD ($)shares | Jun. 17, 2020USD ($)$ / sharesshares | Dec. 19, 2019USD ($)$ / sharesshares | Feb. 28, 2021USD ($)$ / sharesshares | Feb. 29, 2020USD ($)shares | Feb. 28, 2021USD ($)Share$ / sharesshares | Aug. 31, 2020USD ($)shares | Feb. 29, 2020USD ($)shares | Aug. 31, 2020Shareshares | Aug. 31, 2019shares | Jun. 30, 2017USD ($) |
Disclosure of classes of share capital [line items] | |||||||||||||||||||
Number of shares outstanding | shares | 73,957,914 | 62,347,102 | 73,957,914 | 64,095,073 | 62,347,102 | 64,095,073 | 58,575,787 | ||||||||||||
Gain (loss) on the revaluation of embedded derivatives and vested DSUs | $ (558) | $ 17 | |||||||||||||||||
Fair value attributed to warrants which expired | 3,046 | ||||||||||||||||||
Gain (loss) on fair value derivatives and other instruments | $ (550) | $ (66) | (558) | 3,063 | |||||||||||||||
Increase (decrease) in number of shares outstanding | shares | 1,221,500 | 3,225,807 | |||||||||||||||||
Equity issuance, price per share | $ / shares | $ 1.40 | $ 1.24 | |||||||||||||||||
Payments for share issue costs | 1,186 | 284 | |||||||||||||||||
Proceeds from issuance of equity | $ 1,700 | $ 4,000 | $ 25,325 | $ 4,000 | |||||||||||||||
Percentage of finders fee | 6.00% | 6.00% | |||||||||||||||||
Finders fee | $ 38 | $ 54 | |||||||||||||||||
Number of shares issued for exercise of warrants | shares | 28,040 | ||||||||||||||||||
Exercise of warrants for shares issued | shares | 28,040 | ||||||||||||||||||
Shares issued for interest on convertible note (Shares) | shares | 526,471 | 517,468 | |||||||||||||||||
Shares issued for interest on Convertible Notes | $ 687 | $ 687 | |||||||||||||||||
Number of share options granted in share-based payment arrangement | Share | 1,497,500 | 1,628,500 | |||||||||||||||||
Stock options compensation expense | $ 1,036 | 570 | |||||||||||||||||
Deferred share units redeemed by a former director | shares | 23,166 | ||||||||||||||||||
Deferred share units issued price per unit | $ / shares | 3.23 | 3.23 | |||||||||||||||||
Deferred share unit liability | $ 1,395 | $ 1,395 | |||||||||||||||||
Deferred share unit expense | 498 | 124 | |||||||||||||||||
Deferred share units share based compensation | 424 | 67 | |||||||||||||||||
Deferred share units director fees | 75 | 57 | |||||||||||||||||
Deferred share units additional share-based compensation | $ 421 | ||||||||||||||||||
Deferred share units issued and outstanding | shares | 483,693 | 483,693 | |||||||||||||||||
Deferred share units fully vested | shares | 245,773 | 245,773 | |||||||||||||||||
Restricted share units liability | $ 521 | $ 521 | |||||||||||||||||
Aggregate restricted share units expense | 268 | 177 | |||||||||||||||||
Restricted share units expense | 237 | 150 | |||||||||||||||||
Restricted share units expense capitalized | $ 31 | 27 | |||||||||||||||||
Restricted share units settled | shares | 119,394 | 119,394 | |||||||||||||||||
Restricted share units canceled | shares | 24,188 | 24,188 | |||||||||||||||||
Restricted share units issued and outstanding | shares | 551,575 | 551,575 | |||||||||||||||||
Restricted share units vested | shares | 36,720 | 36,720 | |||||||||||||||||
At-The-Market-Offering-Sales-Agreement [Member] | |||||||||||||||||||
Disclosure of classes of share capital [line items] | |||||||||||||||||||
Increase (decrease) in number of shares outstanding | shares | 5,440,186 | 1,631,224 | |||||||||||||||||
Equity issuance, price per share | (per share) | $ 2.21 | $ 5.10 | |||||||||||||||||
Gross proceeds from issuing shares | $ 12,000 | $ 8,327 | |||||||||||||||||
Payments for share issue costs | 592 | 594 | |||||||||||||||||
Brokerage fee expense | $ 300 | $ 208 | |||||||||||||||||
HCI [Member] | |||||||||||||||||||
Disclosure of classes of share capital [line items] | |||||||||||||||||||
Increase (decrease) in number of shares outstanding | shares | 500,000 | ||||||||||||||||||
Proportion of entity interest held by another entity | 31.00% | 31.00% | 32.00% | 29.20% | |||||||||||||||
Deepkloof Limited [Member] | |||||||||||||||||||
Disclosure of classes of share capital [line items] | |||||||||||||||||||
Increase (decrease) in number of shares outstanding | shares | 1,121,076 | 1,146,790 | 1,612,931 | ||||||||||||||||
Equity issuance, price per share | $ / shares | $ 2.23 | $ 2.18 | |||||||||||||||||
Proceeds from issuance of equity | $ 2,500 | $ 2,500 | |||||||||||||||||
Convertible Notes [Member] | |||||||||||||||||||
Disclosure of classes of share capital [line items] | |||||||||||||||||||
Gain (loss) on fair value derivatives and other instruments | $ (148) | ||||||||||||||||||
Shares issued for interest on convertible note (Shares) | shares | 526,471 | 517,468 | 545,721 | 757,924 | 244,063 | ||||||||||||||
Shares issued for interest on Convertible Notes | $ 687 | $ 687 | $ 687 | $ 724 | $ 691 | ||||||||||||||
Borrowings | $ 19,990 | $ 19,990 | $ 19,990 | $ 19,990 | $ 20,000 | ||||||||||||||
Expensed [Member] | |||||||||||||||||||
Disclosure of classes of share capital [line items] | |||||||||||||||||||
Stock options compensation expense | 947 | 505 | |||||||||||||||||
Capitalized to mineral properties [Member] | |||||||||||||||||||
Disclosure of classes of share capital [line items] | |||||||||||||||||||
Stock options compensation expense | $ 89 | $ 65 |
SHARE CAPITAL - Disclosure of n
SHARE CAPITAL - Disclosure of number and weighted average exercise prices of share options (Details) | 6 Months Ended | 12 Months Ended |
Feb. 28, 2021Share$ / shares | Aug. 31, 2020Share$ / shares | |
Disclosure of number and weighted average remaining contractual life of outstanding share options [abstract] | ||
Number of share options outstanding in share-based payment arrangement at beginning of period | Share | 3,182,500 | 1,554,000 |
Weighted average exercise price of share options outstanding in share-based payment arrangement at beginning of period | $ / shares | $ 2.20 | $ 2.61 |
Number of share options granted in share-based payment arrangement | Share | 1,497,500 | 1,628,500 |
Weighted average exercise price of share options granted in share-based payment arrangement | $ / shares | $ 6.58 | $ 1.81 |
Number of share options cancelled in share-based payment arrangement | Share | (113,336) | |
Weighted average exercise price of share options cancelled in share-based payment arrangement | $ / shares | $ 2.28 | |
Number of share options exercised in share-based payment arrangement | Share | (430,680) | |
Weighted average exercise price of share options exercised in share-based payment arrangement | $ / shares | $ 1.97 | |
Number of share options outstanding in share-based payment arrangement at end of period | Share | 4,135,984 | 3,182,500 |
Weighted average exercise price of share options outstanding in share-based payment arrangement at end of period | $ / shares | $ 2.20 | $ 2.20 |
SHARE CAPITAL - Disclosure of_2
SHARE CAPITAL - Disclosure of number and weighted average remaining contractual life of outstanding share options (Details) | 6 Months Ended | ||
Feb. 28, 2021Share$ / shares | Aug. 31, 2020Share | Aug. 31, 2019Share | |
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items] | |||
Number of share options outstanding in share-based payment arrangement | 4,135,984 | 3,182,500 | 1,554,000 |
Number of share options exercisable in share-based payment arrangement | 630,151 | ||
Weighted average remaining contractual life of outstanding share options | 3 years 11 months 1 day | ||
Options outstanding 1 [Member] | |||
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items] | |||
Number of share options outstanding in share-based payment arrangement | 1,497,500 | ||
Number of share options exercisable in share-based payment arrangement | 0 | ||
Exercise price of outstanding share options | $ / shares | $ 6.58 | ||
Weighted average remaining contractual life of outstanding share options | 4 years 9 months 18 days | ||
Options outstanding 2 [Member] | |||
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items] | |||
Number of share options outstanding in share-based payment arrangement | 1,398,632 | ||
Number of share options exercisable in share-based payment arrangement | 429,299 | ||
Exercise price of outstanding share options | $ / shares | $ 2.61 | ||
Weighted average remaining contractual life of outstanding share options | 3 years 1 month 9 days | ||
Options outstanding 3 [Member] | |||
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items] | |||
Number of share options outstanding in share-based payment arrangement | 1,239,852 | ||
Number of share options exercisable in share-based payment arrangement | 200,852 | ||
Exercise price of outstanding share options | $ / shares | $ 1.81 | ||
Weighted average remaining contractual life of outstanding share options | 3 years 9 months 3 days |
RELATED PARTY TRANSACTIONS (Nar
RELATED PARTY TRANSACTIONS (Narrative) (Details) - USD ($) $ in Thousands | Dec. 08, 2020 | Oct. 15, 2020 | Jun. 17, 2020 | Feb. 28, 2021 | Feb. 29, 2020 | Aug. 31, 2019 | Aug. 31, 2018 |
Disclosure of transactions between related parties [line items] | |||||||
Amount of accrued independent directors fees and services | $ 124 | $ 199 | |||||
West Vault Mining Inc. [Member] | |||||||
Disclosure of transactions between related parties [line items] | |||||||
Revenue from rendering of services, related party transactions | $ 28 | $ 27 | |||||
HCI [Member] | |||||||
Disclosure of transactions between related parties [line items] | |||||||
Common shares acquired from company | 21,686,849 | 663,005 | 663,005 | ||||
Number of shares sold by another entity | 757,833 | ||||||
Number of shares owned | 21,592,021 | ||||||
Proportion of entity interest held by another entity | 31.00% | 31.00% | 32.00% | 29.20% |
RELATED PARTY TRANSACTIONS - Di
RELATED PARTY TRANSACTIONS - Disclosure of information about HCI's share acquisitions from company (Details) - $ / shares | 1 Months Ended | 6 Months Ended | 12 Months Ended | ||
Jun. 17, 2020 | Dec. 19, 2019 | Feb. 28, 2021 | Aug. 31, 2019 | Aug. 31, 2018 | |
Disclosure of transactions between related parties [line items] | |||||
Price per common shares acquired from company | $ 1.40 | $ 1.24 | |||
HCI [Member] | |||||
Disclosure of transactions between related parties [line items] | |||||
Common shares acquired from company | 21,686,849 | 663,005 | 663,005 | ||
HCI [Member] | May 2018 [Member] | Prospectus Offering [Member] | |||||
Disclosure of transactions between related parties [line items] | |||||
Common shares acquired from company | 2,490,900 | ||||
Price per common shares acquired from company | $ 1.50 | ||||
HCI [Member] | May 2018 [Member] | Private Placement [Member] | |||||
Disclosure of transactions between related parties [line items] | |||||
Common shares acquired from company | 1,509,099 | ||||
Price per common shares acquired from company | $ 1.50 | ||||
HCI [Member] | February 2019 [Member] | Private Placement [Member] | |||||
Disclosure of transactions between related parties [line items] | |||||
Common shares acquired from company | 2,141,942 | ||||
Price per common shares acquired from company | $ 1.33 | ||||
HCI [Member] | April 2019 [Member] | Exercise of Warrants [Member] | |||||
Disclosure of transactions between related parties [line items] | |||||
Common shares acquired from company | 177,000 | ||||
Price per common shares acquired from company | $ 1.70 | ||||
HCI [Member] | June 2019 [Member] | Exercise of Warrants [Member] | |||||
Disclosure of transactions between related parties [line items] | |||||
Common shares acquired from company | 80,000 | ||||
Price per common shares acquired from company | $ 1.70 | ||||
HCI [Member] | June 2019 [Member] | Private Placement [Member] | |||||
Disclosure of transactions between related parties [line items] | |||||
Common shares acquired from company | 1,111,111 | ||||
Price per common shares acquired from company | $ 1.17 | ||||
HCI [Member] | August 2019 [Member] | Prospectus Offering [Member] | |||||
Disclosure of transactions between related parties [line items] | |||||
Common shares acquired from company | 2,856,000 | ||||
Price per common shares acquired from company | $ 1.25 | ||||
HCI [Member] | August 2019 [Member] | Private Placement [Member] | |||||
Disclosure of transactions between related parties [line items] | |||||
Common shares acquired from company | 6,940,000 | ||||
Price per common shares acquired from company | $ 1.32 | ||||
HCI [Member] | December 2019 [Member] | Private Placement [Member] | |||||
Disclosure of transactions between related parties [line items] | |||||
Common shares acquired from company | 1,612,931 | ||||
Price per common shares acquired from company | $ 1.24 | ||||
HCI [Member] | June 2020 [Member] | Private Placement [Member] | |||||
Disclosure of transactions between related parties [line items] | |||||
Common shares acquired from company | 500,000 | ||||
Price per common shares acquired from company | $ 1.40 | ||||
HCI [Member] | October 2020 [Member] | Private Placement [Member] | |||||
Disclosure of transactions between related parties [line items] | |||||
Common shares acquired from company | 1,146,790 | ||||
Price per common shares acquired from company | $ 2.18 | ||||
HCI [Member] | December 2020 [Member] | Private Placement [Member] | |||||
Disclosure of transactions between related parties [line items] | |||||
Common shares acquired from company | 1,121,076 | ||||
Price per common shares acquired from company | $ 2.23 |
CONTINGENCIES AND COMMITMENTS_2
CONTINGENCIES AND COMMITMENTS (Narrative) (Details) - USD ($) $ in Thousands | 1 Months Ended | 6 Months Ended | ||
Aug. 21, 2019 | Apr. 30, 2018 | Feb. 28, 2021 | Aug. 31, 2020 | |
Disclosure of contingent liabilities [line items] | ||||
Minimum operating lease payments | $ 280 | |||
Bank advisory fees payable | $ 2,890 | |||
Maseve Investments 11 (Pty) Ltd. [Member] | ||||
Disclosure of contingent liabilities [line items] | ||||
Proportion of ownership and voting rights held by non-controlling interests | 17.10% | |||
Brokerage Fees Payable [Member] | LMM Facility [Member] | ||||
Disclosure of contingent liabilities [line items] | ||||
Repayment of secured loan facility | $ 40,000 |
CONTINGENCIES AND COMMITMENTS -
CONTINGENCIES AND COMMITMENTS - Disclosure of detailed information about commitments (Details) $ in Thousands | Feb. 28, 2021USD ($) |
Disclosure of contingent liabilities [line items] | |
Capital commitments | $ 34,295 |
Less than 1 Year [Member] | |
Disclosure of contingent liabilities [line items] | |
Capital commitments | 13,436 |
1 to 3 Years [Member] | |
Disclosure of contingent liabilities [line items] | |
Capital commitments | 20,859 |
4 to 5 Years [Member] | |
Disclosure of contingent liabilities [line items] | |
Capital commitments | 0 |
More than 5 Years [Member] | |
Disclosure of contingent liabilities [line items] | |
Capital commitments | 0 |
Lease Obligations [Member] | |
Disclosure of contingent liabilities [line items] | |
Capital commitments | 280 |
Lease Obligations [Member] | Less than 1 Year [Member] | |
Disclosure of contingent liabilities [line items] | |
Capital commitments | 98 |
Lease Obligations [Member] | 1 to 3 Years [Member] | |
Disclosure of contingent liabilities [line items] | |
Capital commitments | 182 |
Lease Obligations [Member] | 4 to 5 Years [Member] | |
Disclosure of contingent liabilities [line items] | |
Capital commitments | 0 |
Lease Obligations [Member] | More than 5 Years [Member] | |
Disclosure of contingent liabilities [line items] | |
Capital commitments | 0 |
Convertible Notes [Member] | |
Disclosure of contingent liabilities [line items] | |
Capital commitments | 22,051 |
Convertible Notes [Member] | Less than 1 Year [Member] | |
Disclosure of contingent liabilities [line items] | |
Capital commitments | 1,374 |
Convertible Notes [Member] | 1 to 3 Years [Member] | |
Disclosure of contingent liabilities [line items] | |
Capital commitments | 20,677 |
Convertible Notes [Member] | 4 to 5 Years [Member] | |
Disclosure of contingent liabilities [line items] | |
Capital commitments | 0 |
Convertible Notes [Member] | More than 5 Years [Member] | |
Disclosure of contingent liabilities [line items] | |
Capital commitments | 0 |
Sprott Facility [Member] | |
Disclosure of contingent liabilities [line items] | |
Capital commitments | 11,964 |
Sprott Facility [Member] | Less than 1 Year [Member] | |
Disclosure of contingent liabilities [line items] | |
Capital commitments | 11,964 |
Sprott Facility [Member] | 1 to 3 Years [Member] | |
Disclosure of contingent liabilities [line items] | |
Capital commitments | 0 |
Sprott Facility [Member] | 4 to 5 Years [Member] | |
Disclosure of contingent liabilities [line items] | |
Capital commitments | 0 |
Sprott Facility [Member] | More than 5 Years [Member] | |
Disclosure of contingent liabilities [line items] | |
Capital commitments | $ 0 |
SUPPLEMENTARY CASH FLOW INFOR_3
SUPPLEMENTARY CASH FLOW INFORMATION - Disclosure of detailed information about non-cash working capital (Details) - USD ($) $ in Thousands | 6 Months Ended | |
Feb. 28, 2021 | Feb. 29, 2020 | |
Supplementary Cash Flow Information [Abstract] | ||
Amounts receivable, prepaid expenses and other assets | $ (124) | $ 179 |
Payment of bank advisory fees | (2,890) | |
Accounts payable and other liabilities | 76 | (750) |
Net change in non-cash working capital | $ (2,938) | $ (571) |
SEGMENTED REPORTING - Disclosur
SEGMENTED REPORTING - Disclosure of operating segments (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Feb. 28, 2021 | Feb. 29, 2020 | Feb. 28, 2021 | Feb. 29, 2020 | Aug. 31, 2020 | |
Disclosure of operating segments [line items] | |||||
Assets | $ 50,771 | $ 50,771 | $ 37,415 | ||
Liabilities | 31,925 | 31,925 | 41,558 | ||
Total Comprehensive Loss (Income) | 3,814 | $ 5,346 | 3,228 | $ 3,440 | |
Canada [Member] | |||||
Disclosure of operating segments [line items] | |||||
Assets | 10,780 | 10,780 | 2,101 | ||
Liabilities | 31,558 | 31,558 | 40,922 | ||
Total Comprehensive Loss (Income) | 7,974 | 2,973 | |||
South Africa [Member] | |||||
Disclosure of operating segments [line items] | |||||
Assets | 39,991 | 39,991 | 35,314 | ||
Liabilities | $ 367 | 367 | $ 636 | ||
Total Comprehensive Loss (Income) | $ (4,746) | $ 467 |