Document And Entity Information
Document And Entity Information - shares | 9 Months Ended | |
Aug. 31, 2020 | Sep. 23, 2020 | |
Document Information [Line Items] | ||
Entity Central Index Key | 0001173420 | |
Entity Registrant Name | NOVAGOLD RESOURCES INC | |
Amendment Flag | false | |
Current Fiscal Year End Date | --11-30 | |
Document Fiscal Period Focus | Q3 | |
Document Fiscal Year Focus | 2020 | |
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Aug. 31, 2020 | |
Document Transition Report | false | |
Entity File Number | 001-31913 | |
Entity Incorporation, State or Country Code | A1 | |
Entity Address, Address Line One | 201 South Main Street, Suite 400 | |
Entity Address, City or Town | Salt Lake City | |
Entity Address, State or Province | UT | |
Entity Address, Postal Zip Code | 84111 | |
City Area Code | 801 | |
Local Phone Number | 639-0511 | |
Title of 12(b) Security | Common Shares, no par value | |
Trading Symbol | NG | |
Security Exchange Name | NYSEAMER | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Large Accelerated Filer | |
Entity Small Business | false | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 329,912,479 |
Condensed Consolidated Interim
Condensed Consolidated Interim Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands | Aug. 31, 2020 | Nov. 30, 2019 |
ASSETS | ||
Cash and cash equivalents | $ 45,348 | $ 67,549 |
Term deposits | 81,000 | 81,000 |
Notes receivable (Note 4) | 72,611 | 0 |
Other assets (Note 6) | 1,158 | 1,790 |
Current assets | 200,117 | 150,339 |
Notes receivable (Note 4) | 22,551 | 92,679 |
Investment in Donlin Gold (Note 5) | 4,005 | 1,840 |
Other assets (Note 6) | 2,321 | 977 |
Total assets | 228,994 | 245,835 |
Accounts payable and accrued liabilities | 968 | 880 |
Accrued payroll and related benefits | 1,674 | 2,143 |
Income taxes payable | 139 | 138 |
Lease obligations (Note 12) | 201 | 0 |
Other liabilities | 182 | 182 |
Current liabilities | 3,164 | 3,343 |
Promissory note (Note 7) | 108,375 | 103,787 |
Lease obligations (Note 12) | 455 | 0 |
Deferred income taxes | 1,272 | 751 |
Total liabilities | 113,266 | 107,881 |
EQUITY | ||
Common shares | 1,970,299 | 1,965,573 |
Contributed surplus | 81,135 | 82,254 |
Accumulated deficit | (1,911,629) | (1,885,065) |
Accumulated other comprehensive loss | (24,077) | (24,808) |
Total equity | 115,728 | 137,954 |
Total liabilities and equity | $ 228,994 | $ 245,835 |
Condensed Consolidated Interi_2
Condensed Consolidated Interim Statements of Loss and Comprehensive Loss (Unaudited) - USD ($) shares in Thousands, $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Aug. 31, 2020 | Aug. 31, 2019 | Aug. 31, 2020 | Aug. 31, 2019 | |
Operating expenses: | ||||
General and administrative (Note 9) | $ 4,745 | $ 4,075 | $ 13,846 | $ 12,630 |
Equity loss – Donlin Gold (Note 5) | 6,150 | 3,141 | 11,418 | 6,662 |
Operating Expenses, Total | 10,895 | 7,216 | 25,264 | 19,292 |
Loss from operations | (10,895) | (7,216) | (25,264) | (19,292) |
Interest expense on promissory note | (1,428) | (1,887) | (4,588) | (5,546) |
Accretion of notes receivable | 835 | 805 | 2,483 | 2,396 |
Other income (expense), net (Note 10) | (982) | 501 | 1,599 | 3,520 |
Loss before income taxes and other items | (12,470) | (7,797) | (25,770) | (18,922) |
Income tax expense | (266) | (259) | (794) | (972) |
Net loss | (12,736) | (8,056) | (26,564) | (19,894) |
Other comprehensive loss: | ||||
Foreign currency translation adjustments | 2,345 | 900 | 731 | 22 |
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent, Total | 2,345 | 900 | 731 | 22 |
Comprehensive loss | $ (10,391) | $ (7,156) | $ (25,833) | $ (19,872) |
Net loss per common share – basic and diluted (in dollars per share) | $ (0.04) | $ (0.02) | $ (0.08) | $ (0.06) |
Weighted average shares outstanding | ||||
Basic and diluted (thousands) (in shares) | 329,598 | 326,050 | 329,001 | 325,280 |
Condensed Consolidated Interi_3
Condensed Consolidated Interim Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Aug. 31, 2020 | Aug. 31, 2019 | Aug. 31, 2020 | Aug. 31, 2019 | |
Operating activities: | ||||
Net loss | $ (12,736) | $ (8,056) | $ (26,564) | $ (19,894) |
Adjustments: | ||||
Equity loss – Donlin Gold | 6,150 | 3,141 | 11,418 | 6,662 |
Share-based compensation | 1,783 | 1,552 | 5,259 | 4,625 |
Interest expense on promissory note | 1,428 | 1,887 | 4,588 | 5,546 |
Deferred income tax expense | 175 | 169 | 521 | 503 |
Foreign exchange (gain) loss | 1,745 | 782 | 485 | (41) |
Accretion of notes receivable | (835) | (805) | (2,483) | (2,396) |
Change in fair value of marketable securities | (372) | (190) | (662) | (248) |
Other operating adjustments | 4 | 4 | 14 | 11 |
Net change in operating assets and liabilities (Note 13) | 832 | 1,143 | 267 | (52) |
Net cash used in operating activities | (1,826) | (373) | (7,157) | (5,284) |
Investing activities: | ||||
Proceeds from term deposits | 0 | 40,000 | 46,000 | 166,000 |
Purchases of term deposits | 0 | 0 | (46,000) | (119,000) |
Funding of Donlin Gold | (6,693) | (3,840) | (13,583) | (7,646) |
Net cash provided from (used in) investing activities | (6,693) | 36,160 | (13,583) | 39,354 |
Financing activities: | ||||
Withholding tax on share-based compensation | 0 | 0 | (1,652) | (1,197) |
Net cash used in investing activities | 0 | 0 | (1,652) | (1,197) |
Effect of exchange rate changes on cash | 538 | 108 | 191 | 4 |
Increase (Decrease) in cash and cash equivalents | (7,981) | 35,895 | (22,201) | 32,877 |
Cash and cash equivalents at beginning of period | 53,329 | 17,986 | 67,549 | 21,004 |
Cash and cash equivalents at end of period | $ 45,348 | $ 53,881 | $ 45,348 | $ 53,881 |
Condensed Consolidated Interi_4
Condensed Consolidated Interim Statements of Equity (Unaudited) - USD ($) shares in Thousands, $ in Thousands | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | AOCI Attributable to Parent [Member] | Total | |
Balance (in shares) at Nov. 30, 2018 | 323,223 | |||||
Balance at Nov. 30, 2018 | $ 1,954,861 | $ 87,987 | $ (1,857,682) | $ (24,478) | [1] | $ 160,688 |
Share-based compensation | $ 0 | 1,531 | 0 | 0 | [1] | 1,531 |
Share-based awards settled in shares (in shares) | 438 | |||||
Share-based awards settled in shares | $ 2,737 | (2,737) | 0 | 0 | [1] | 0 |
Stock options exercised (in shares) | 1,443 | |||||
Stock options exercised | $ 2,867 | (2,867) | 0 | 0 | [1] | 0 |
Withholding tax on PSUs | 0 | (1,197) | 0 | 0 | [1] | (1,197) |
Net loss | 0 | 0 | (6,323) | 0 | [1] | (6,323) |
Other comprehensive income (loss) | 0 | 0 | 0 | 519 | [1] | 519 |
Cumulative-effect adjustment of adopting ASU No. 2016-01 | $ 0 | 0 | 378 | (378) | [1] | 0 |
Balance (in shares) at Feb. 28, 2019 | 325,104 | |||||
Balance at Feb. 28, 2019 | $ 1,960,465 | 82,717 | (1,863,627) | (24,337) | [1] | 155,218 |
Balance (in shares) at Nov. 30, 2018 | 323,223 | |||||
Balance at Nov. 30, 2018 | $ 1,954,861 | 87,987 | (1,857,682) | (24,478) | [1] | 160,688 |
Net loss | (19,894) | |||||
Other comprehensive income (loss) | 22 | |||||
Balance (in shares) at Aug. 31, 2019 | 326,788 | |||||
Balance at Aug. 31, 2019 | $ 1,964,304 | 81,972 | (1,877,198) | (24,834) | 144,244 | |
Balance (in shares) at Feb. 28, 2019 | 325,104 | |||||
Balance at Feb. 28, 2019 | $ 1,960,465 | 82,717 | (1,863,627) | (24,337) | [1] | 155,218 |
Share-based compensation | $ 0 | 1,542 | 0 | 0 | [1] | 1,542 |
Stock options exercised (in shares) | 205 | |||||
Stock options exercised | $ 468 | (468) | 0 | 0 | [1] | 0 |
Net loss | 0 | 0 | (5,515) | 0 | [1] | (5,515) |
Other comprehensive income (loss) | $ 0 | 0 | 0 | (1,397) | [1] | (1,397) |
Balance (in shares) at May. 31, 2019 | 325,309 | |||||
Balance at May. 31, 2019 | $ 1,960,933 | 83,791 | (1,869,142) | (25,734) | [1] | 149,848 |
Share-based compensation | $ 0 | 1,552 | 0 | 0 | 1,552 | |
Share-based awards settled in shares (in shares) | 32 | |||||
Share-based awards settled in shares | $ 120 | (120) | 0 | 0 | 0 | |
Stock options exercised (in shares) | 1,447 | |||||
Stock options exercised | $ 3,251 | (3,251) | 0 | 0 | 0 | |
Net loss | 0 | 0 | (8,056) | 0 | (8,056) | |
Other comprehensive income (loss) | $ 0 | 0 | 0 | 900 | 900 | |
Balance (in shares) at Aug. 31, 2019 | 326,788 | |||||
Balance at Aug. 31, 2019 | $ 1,964,304 | 81,972 | (1,877,198) | (24,834) | 144,244 | |
Balance (in shares) at Nov. 30, 2019 | 327,630 | |||||
Balance at Nov. 30, 2019 | $ 1,965,573 | 82,254 | (1,885,065) | (24,808) | [1] | 137,954 |
Share-based compensation | $ 0 | 1,761 | 0 | 0 | [1] | 1,761 |
Share-based awards settled in shares (in shares) | 410 | |||||
Share-based awards settled in shares | $ 1,026 | (1,026) | 0 | 0 | [1] | 0 |
Stock options exercised (in shares) | 560 | |||||
Stock options exercised | $ 1,618 | (1,618) | 0 | 0 | [1] | 0 |
Withholding tax on PSUs | 0 | (1,652) | 0 | 0 | [1] | (1,652) |
Net loss | 0 | 0 | (6,595) | 0 | [1] | (6,595) |
Other comprehensive income (loss) | $ 0 | 0 | 0 | (455) | [1] | (455) |
Balance (in shares) at Feb. 29, 2020 | 328,600 | |||||
Balance at Feb. 29, 2020 | $ 1,968,217 | 79,719 | (1,891,660) | (25,263) | [1] | 131,013 |
Balance (in shares) at Nov. 30, 2019 | 327,630 | |||||
Balance at Nov. 30, 2019 | $ 1,965,573 | 82,254 | (1,885,065) | (24,808) | [1] | $ 137,954 |
Stock options exercised (in shares) | 2,661 | |||||
Net loss | $ (26,564) | |||||
Other comprehensive income (loss) | 731 | |||||
Balance (in shares) at Aug. 31, 2020 | 329,598 | |||||
Balance at Aug. 31, 2020 | $ 1,970,299 | 81,135 | (1,911,629) | (24,077) | 115,728 | |
Balance (in shares) at Feb. 29, 2020 | 328,600 | |||||
Balance at Feb. 29, 2020 | $ 1,968,217 | 79,719 | (1,891,660) | (25,263) | [1] | 131,013 |
Share-based compensation | $ 0 | 1,715 | 0 | 0 | [1] | 1,715 |
Stock options exercised (in shares) | 998 | |||||
Stock options exercised | $ 2,082 | (2,082) | 0 | 0 | [1] | 0 |
Net loss | 0 | 0 | (7,233) | 0 | [1] | (7,233) |
Other comprehensive income (loss) | $ 0 | 0 | 0 | (1,159) | [1] | (1,159) |
Balance (in shares) at May. 31, 2020 | 329,598 | |||||
Balance at May. 31, 2020 | $ 1,970,299 | 79,352 | (1,898,893) | (26,422) | [1] | 124,336 |
Share-based compensation | 0 | 1,783 | 0 | 0 | 1,783 | |
Net loss | 0 | 0 | (12,736) | 0 | (12,736) | |
Other comprehensive income (loss) | $ 0 | 0 | 0 | 2,345 | 2,345 | |
Balance (in shares) at Aug. 31, 2020 | 329,598 | |||||
Balance at Aug. 31, 2020 | $ 1,970,299 | $ 81,135 | $ (1,911,629) | $ (24,077) | $ 115,728 | |
[1] | Accumulated other comprehensive loss |
Note 1 - Nature of Operations a
Note 1 - Nature of Operations and Basis of Presentation | 9 Months Ended |
Aug. 31, 2020 | |
Notes to Financial Statements | |
Business Description and Basis of Presentation [Text Block] | NOTE 1 NOVAGOLD RESOURCES INC. and its affiliates and subsidiaries (collectively, “NOVAGOLD” or the “Company”) operate in the mining industry, focused on the exploration for and development of gold mineral properties. The Company has no realized revenues from its planned principal business purpose. The Company’s principal asset is a 50% interest in the Donlin Gold project in Alaska, USA. The Donlin Gold project is owned and operated by Donlin Gold LLC, a limited liability company that is owned equally by wholly owned subsidiaries of NOVAGOLD and Barrick Gold Corporation (“Barrick”). The interim Condensed Consolidated Financial Statements (“interim statements”) of NOVAGOLD are unaudited. In the opinion of management, all adjustments and disclosures necessary for a fair presentation of these interim statements have been included. The results reported in these interim statements are not may November 30, 2019. The functional currency for the Company’s Canadian operations is the Canadian dollar and the functional currency for the Company’s U.S. operations is the United States dollar. References in these Condensed Consolidated Financial Statements and Notes to $ refer to United States dollars and C$ to Canadian dollars. Dollar amounts are in thousands, except for per share amounts. |
Note 2 - Summary of Significant
Note 2 - Summary of Significant Accounting Policies | 9 Months Ended |
Aug. 31, 2020 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | NOTE 2 Recently adopted accounting pronouncements Leases In February 2016, No. 2016 02 842, one On December 1, 2019, three nine August 31, 2020 842. No 840, December 1, 2019. not one Adoption of the new standard resulted in recording an operating lease ROU asset and operating lease liability of approximately $399 on our Condensed Consolidated Balance Sheet as of December 1, 2019. not 12. Changes to the Company’s accounting policy as a result of adoption are discussed below. The Company reviews all contracts and determines if the arrangement represents or contains a lease, at inception. Operating leases are included in Other non-current assets Other current non-current liabilities not Operating lease ROU assets represent the Company’s right to use an underlying asset for the lease term and lease liabilities represent the Company’s obligation to make lease payments arising from the lease. ROU assets and lease liabilities are recognized at the lease commencement date based on the estimated present value of lease payments over the lease term. The Company uses its estimated incremental borrowing rate based on the information available at the lease commencement date in determining the present value of future payments. The operating lease ROU asset also includes any upfront lease payments made and excludes lease incentives and initial direct costs incurred. The Company’s lease terms may 12 not not Recently issued accounting pronouncements Fair Value Disclosure Requirements In August 2018, No. 2018 13 December 1, 2020, |
Note 3 - Segmented Information
Note 3 - Segmented Information | 9 Months Ended |
Aug. 31, 2020 | |
Notes to Financial Statements | |
Segment Reporting Disclosure [Text Block] | NOTE 3 Operating segments are reported in a manner consistent with the internal reporting provided to the chief operating decision-maker. The chief operating decision-maker, who is responsible for allocating resources and assessing performance of the operating segments, has been identified as the Chief Executive Officer. The Chief Executive Officer considers the business as a single segment considering the performance of our investment in the Donlin Gold project in Alaska, USA (Note 5 |
Note 4 - Notes Receivable
Note 4 - Notes Receivable | 9 Months Ended |
Aug. 31, 2020 | |
Notes to Financial Statements | |
Financing Receivables [Text Block] | NOTE 4 – NOTES RECEIVABLE The Company has notes receivable from Newmont Corp. (“Newmont”) including a $75,000 note receivable upon the earlier of the completion of a new Galore Creek project pre-feasibility study or July 27, 2021, July 27, 2023. three five $75,000 $25,000 three five August 31, 2020, $75,000 $75,000 not not August 31, 2020. |
Note 5 - Investment in Donlin G
Note 5 - Investment in Donlin Gold | 9 Months Ended |
Aug. 31, 2020 | |
Donlin Gold [Member] | |
Notes to Financial Statements | |
Equity Method Investments and Joint Ventures Disclosure [Text Block] | NOTE 5 – INVESTMENT IN DONLIN GOLD The Donlin Gold project is owned and operated by Donlin Gold LLC, a limited liability company in which wholly owned subsidiaries of Barrick and NOVAGOLD each own a 50% interest. Donlin Gold LLC has a board of four two two Changes in the Company’s investment in Donlin Gold LLC are summarized as follows: Three months ended August 31, Nine months ended August 31, 2020 2019 2020 2019 Balance – beginning of period $ 3,462 $ 1,494 $ 1,840 $ 1,209 Share of losses: Mineral property expenditures (6,111 ) (3,125 ) (11,319 ) (6,629 ) Depreciation (39 ) (16 ) (99 ) (33 ) (6,150 ) (3,141 ) (11,418 ) (6,662 ) Funding 6,693 3,840 13,583 7,646 Balance – end of period $ 4,005 $ 2,193 $ 4,005 $ 2,193 The following amounts represent the Company’s 50% Non-current assets: Mineral property At August 31, At November 30, 2020 2019 Current assets: Cash, prepaid expenses and other receivables $ 5,531 $ 3,115 Non-current assets: Property and equipment 1,264 462 Non-current assets: Mineral property 32,692 32,692 Current liabilities: Accounts payable and accrued liabilities (2,645 ) (1,737 ) Non-current liabilities: Reclamation and lease obligations (837 ) (692 ) Net assets $ 36,005 $ 33,840 |
Note 6 - Other Assets
Note 6 - Other Assets | 9 Months Ended |
Aug. 31, 2020 | |
Notes to Financial Statements | |
Other Assets Disclosure [Text Block] | NOTE 6 At August 31, 2020 At November 30, 2019 Other current assets: Accounts and interest receivable $ 1,005 $ 1,100 Prepaid expenses 153 690 $ 1,158 $ 1,790 Other long-term assets: Marketable equity securities $ 1,637 $ 935 Right-of-use assets 648 — Office equipment 36 42 $ 2,321 $ 977 |
Note 7 - Promissory Note
Note 7 - Promissory Note | 9 Months Ended |
Aug. 31, 2020 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | NOTE 7 – PROMISSORY NOTE The Company has a promissory note payable to Barrick of $108,375, comprised of $51,576 in principal, and $56,799 in accrued interest at U.S. prime plus 2%. The promissory note resulted from the agreement that led to the formation of Donlin Gold LLC, where the Company agreed to reimburse Barrick for a portion of their expenditures incurred from April 1, 2006 November 30, 2007. |
Note 8 - Fair Value Accounting
Note 8 - Fair Value Accounting | 9 Months Ended |
Aug. 31, 2020 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | NOTE 8 – FAIR VALUE ACCOUNTING Financial instruments measured at fair value are classified into one three three Level 1 Level 2 not Level 3 no The Company’s marketable equity securities are valued using quoted market prices in active markets and as such are classified within Level 1 August 31, 2020 ( November 30, 2019), |
Note 9 - General and Administra
Note 9 - General and Administrative Expenses | 9 Months Ended |
Aug. 31, 2020 | |
Notes to Financial Statements | |
General and Administrative Expenses [Text Block] | NOTE 9 – GENERAL AND ADMINISTRATIVE EXPENSES Three months ended August 31, Nine months ended August 31, 2020 2019 2020 2019 Salaries and benefits $ 1,483 $ 1,562 $ 4,722 $ 4,724 Share-based compensation (Note 11) 1,783 1,552 5,259 4,625 Office expense 461 526 1,644 1,748 Professional fees 669 193 1,251 783 Corporate communications and regulatory 347 238 964 739 Depreciation 2 4 6 11 $ 4,745 $ 4,075 $ 13,846 $ 12,630 |
Note 10 - Other Income (Expense
Note 10 - Other Income (Expense), Net | 9 Months Ended |
Aug. 31, 2020 | |
Notes to Financial Statements | |
Other Income and Other Expense Disclosure [Text Block] | NOTE 10 (EXPENSE) , NET Three months ended August 31, Nine months ended August 31, 2020 2019 2020 2019 Interest income $ 391 $ 1,001 $ 1,422 $ 3,139 Change in fair market value of marketable securities 372 190 662 248 Foreign exchange gain (loss) (1,745 ) (782 ) (485 ) 41 Other income — 92 — 92 $ (982 ) $ 501 $ 1,599 $ 3,520 |
Note 11 - Share-based Compensat
Note 11 - Share-based Compensation | 9 Months Ended |
Aug. 31, 2020 | |
Notes to Financial Statements | |
Share-based Payment Arrangement [Text Block] | NOTE 1 1 – SHARE -BASED COMPENSATION Three months ended August 31, Nine months ended August 31, 2020 2019 2020 2019 Stock options $ 1,095 $ 928 $ 3,196 $ 2,765 Performance share unit plan 636 585 1,913 1,738 Deferred share unit plan 52 39 150 122 $ 1,783 $ 1,552 $ 5,259 $ 4,625 Stock options A summary of stock options outstanding as of August 31, 2020 nine August 31, 2020 Number of stock options (thousands) Weighted- average exercise price per share Weighted- average remaining contractual term (years) Aggregate intrinsic value November 30, 2019 12,527 $ 3.98 Granted 1,781 7.27 Exercised (2,661 ) 4.01 August 31, 2020 11,647 $ 4.51 2.33 $ 71,012 Vested and exercisable as of August 31, 2020 6,966 $ 4.05 1.58 $ 45,163 The following table summarizes other stock option-related information: Nine months ended August 31, 2020 2019 Weighted-average assumptions used to value stock option awards: Expected volatility 46.2 % 46.9 % Expected term of options (years) 4 4 Expected dividend rate — — Risk-free interest rate 1.5 % 2.7 % Expected forfeiture rate 3.1 % 3.1 % Weighted-average grant-date fair value $ 2.71 $ 1.46 Intrinsic value of options exercised $ 15,198 $ 14,872 Cash received from options exercised $ — $ — As of August 31, 2020, Performance share units A summary of PSU awards outstanding as of August 31, 2020 nine August 31, 2020 Number of PSU awards (thousands) Weighted- average grant day fair value per award Aggregate intrinsic value November 30, 2019 1,664 $ 3.76 Granted 452 6.92 Vested (648 ) 6.96 Performance adjustment 216 6.96 August 31, 2020 1,684 $ 4.59 $ 23,041 As of August 31, 2020, The following table summarizes other PSU-related information: Nine months ended August 31, 2020 2019 Performance multiplier on PSUs vested 150 % 82 % Common shares issued (thousands) 648 438 Total fair value of common shares issued $ 2,855 $ 1,607 Withholding tax paid on PSUs vested $ 1,652 $ 1,197 |
Note 12 - Leases
Note 12 - Leases | 9 Months Ended |
Aug. 31, 2020 | |
Notes to Financial Statements | |
Lessee, Operating Leases [Text Block] | NOTE 1 2 – LEASES The Company leases office space under non-cancelable operating leases with original lease terms of five may five not not The Company performed evaluations of its contracts and determined each of its identified leases are operating leases. Additionally, short-term leases, which have an initial term of 12 not Lease expenses are included in General and administrative expense – Office expense nine August 31, 2020: Operating lease cost $ 157 Variable lease cost 82 Short-term lease cost 3 $ 242 On February 1, 2020, Future minimum lease payments under non-cancellable operating leases as of August 31, 2020, 2020 (excluding the nine months ended August 31, 2020) $ 55 2021 231 2022 237 2023 90 2024 91 Thereafter 8 Total future minimum lease payments 712 Less: imputed interest (56 ) Total $ 656 Other information regarding leases for the nine August 31, 2020 Cash paid for operating leases $ 149 Right-of-use assets obtained in exchange for lease liabilities $ 380 Weighted average remaining lease term (years) – operating leases 3.4 Weighted average discount rate – operating leases 5 % |
Note 13 - Net Change in Operati
Note 13 - Net Change in Operating Assets and Liabilities | 9 Months Ended |
Aug. 31, 2020 | |
Notes to Financial Statements | |
Net Change in Operating Assets and Liabilities [Text Block] | NOTE 13 Nine months ended August 31, 2020 2019 Changes in operating assets and liabilities: Other assets $ 667 $ 603 Accounts payable and accrued liabilities 70 (273 ) Accrued payroll and related benefits (470 ) (382 ) $ 267 $ (52 ) |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 9 Months Ended |
Aug. 31, 2020 | |
Accounting Policies [Abstract] | |
New Accounting Pronouncements, Policy [Policy Text Block] | Recently adopted accounting pronouncements Leases In February 2016, No. 2016 02 842, one On December 1, 2019, three nine August 31, 2020 842. No 840, December 1, 2019. not one Adoption of the new standard resulted in recording an operating lease ROU asset and operating lease liability of approximately $399 on our Condensed Consolidated Balance Sheet as of December 1, 2019. not 12. Changes to the Company’s accounting policy as a result of adoption are discussed below. The Company reviews all contracts and determines if the arrangement represents or contains a lease, at inception. Operating leases are included in Other non-current assets Other current non-current liabilities not Operating lease ROU assets represent the Company’s right to use an underlying asset for the lease term and lease liabilities represent the Company’s obligation to make lease payments arising from the lease. ROU assets and lease liabilities are recognized at the lease commencement date based on the estimated present value of lease payments over the lease term. The Company uses its estimated incremental borrowing rate based on the information available at the lease commencement date in determining the present value of future payments. The operating lease ROU asset also includes any upfront lease payments made and excludes lease incentives and initial direct costs incurred. The Company’s lease terms may 12 not not Recently issued accounting pronouncements Fair Value Disclosure Requirements In August 2018, No. 2018 13 December 1, 2020, |
Note 5 - Investment in Donlin_2
Note 5 - Investment in Donlin Gold (Tables) | 9 Months Ended |
Aug. 31, 2020 | |
Donlin Gold [Member] | |
Notes Tables | |
Equity Method Investments [Table Text Block] | Three months ended August 31, Nine months ended August 31, 2020 2019 2020 2019 Balance – beginning of period $ 3,462 $ 1,494 $ 1,840 $ 1,209 Share of losses: Mineral property expenditures (6,111 ) (3,125 ) (11,319 ) (6,629 ) Depreciation (39 ) (16 ) (99 ) (33 ) (6,150 ) (3,141 ) (11,418 ) (6,662 ) Funding 6,693 3,840 13,583 7,646 Balance – end of period $ 4,005 $ 2,193 $ 4,005 $ 2,193 At August 31, At November 30, 2020 2019 Current assets: Cash, prepaid expenses and other receivables $ 5,531 $ 3,115 Non-current assets: Property and equipment 1,264 462 Non-current assets: Mineral property 32,692 32,692 Current liabilities: Accounts payable and accrued liabilities (2,645 ) (1,737 ) Non-current liabilities: Reclamation and lease obligations (837 ) (692 ) Net assets $ 36,005 $ 33,840 |
Note 6 - Other Assets (Tables)
Note 6 - Other Assets (Tables) | 9 Months Ended |
Aug. 31, 2020 | |
Notes Tables | |
Schedule of Other Assets [Table Text Block] | At August 31, 2020 At November 30, 2019 Other current assets: Accounts and interest receivable $ 1,005 $ 1,100 Prepaid expenses 153 690 $ 1,158 $ 1,790 Other long-term assets: Marketable equity securities $ 1,637 $ 935 Right-of-use assets 648 — Office equipment 36 42 $ 2,321 $ 977 |
Note 9 - General and Administ_2
Note 9 - General and Administrative Expenses (Tables) | 9 Months Ended |
Aug. 31, 2020 | |
Notes Tables | |
General and Administrative Expenses [Table Text Block] | Three months ended August 31, Nine months ended August 31, 2020 2019 2020 2019 Salaries and benefits $ 1,483 $ 1,562 $ 4,722 $ 4,724 Share-based compensation (Note 11) 1,783 1,552 5,259 4,625 Office expense 461 526 1,644 1,748 Professional fees 669 193 1,251 783 Corporate communications and regulatory 347 238 964 739 Depreciation 2 4 6 11 $ 4,745 $ 4,075 $ 13,846 $ 12,630 |
Note 10 - Other Income (Expen_2
Note 10 - Other Income (Expense), Net (Tables) | 9 Months Ended |
Aug. 31, 2020 | |
Notes Tables | |
Schedule of Other Nonoperating Income (Expense) [Table Text Block] | Three months ended August 31, Nine months ended August 31, 2020 2019 2020 2019 Interest income $ 391 $ 1,001 $ 1,422 $ 3,139 Change in fair market value of marketable securities 372 190 662 248 Foreign exchange gain (loss) (1,745 ) (782 ) (485 ) 41 Other income — 92 — 92 $ (982 ) $ 501 $ 1,599 $ 3,520 |
Note 11 - Share-based Compens_2
Note 11 - Share-based Compensation (Tables) | 9 Months Ended |
Aug. 31, 2020 | |
Notes Tables | |
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Table Text Block] | Three months ended August 31, Nine months ended August 31, 2020 2019 2020 2019 Stock options $ 1,095 $ 928 $ 3,196 $ 2,765 Performance share unit plan 636 585 1,913 1,738 Deferred share unit plan 52 39 150 122 $ 1,783 $ 1,552 $ 5,259 $ 4,625 |
Share-based Payment Arrangement, Option, Activity [Table Text Block] | Number of stock options (thousands) Weighted- average exercise price per share Weighted- average remaining contractual term (years) Aggregate intrinsic value November 30, 2019 12,527 $ 3.98 Granted 1,781 7.27 Exercised (2,661 ) 4.01 August 31, 2020 11,647 $ 4.51 2.33 $ 71,012 Vested and exercisable as of August 31, 2020 6,966 $ 4.05 1.58 $ 45,163 |
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | Nine months ended August 31, 2020 2019 Weighted-average assumptions used to value stock option awards: Expected volatility 46.2 % 46.9 % Expected term of options (years) 4 4 Expected dividend rate — — Risk-free interest rate 1.5 % 2.7 % Expected forfeiture rate 3.1 % 3.1 % Weighted-average grant-date fair value $ 2.71 $ 1.46 Intrinsic value of options exercised $ 15,198 $ 14,872 Cash received from options exercised $ — $ — |
Schedule of Nonvested Performance-based Units Activity [Table Text Block] | Number of PSU awards (thousands) Weighted- average grant day fair value per award Aggregate intrinsic value November 30, 2019 1,664 $ 3.76 Granted 452 6.92 Vested (648 ) 6.96 Performance adjustment 216 6.96 August 31, 2020 1,684 $ 4.59 $ 23,041 |
Other PSU-related Information [Table Text Block] | Nine months ended August 31, 2020 2019 Performance multiplier on PSUs vested 150 % 82 % Common shares issued (thousands) 648 438 Total fair value of common shares issued $ 2,855 $ 1,607 Withholding tax paid on PSUs vested $ 1,652 $ 1,197 |
Note 12 - Leases (Tables)
Note 12 - Leases (Tables) | 9 Months Ended |
Aug. 31, 2020 | |
Notes Tables | |
Lease, Cost [Table Text Block] | Operating lease cost $ 157 Variable lease cost 82 Short-term lease cost 3 $ 242 |
Lessee, Operating Lease, Liability, Maturity [Table Text Block] | 2020 (excluding the nine months ended August 31, 2020) $ 55 2021 231 2022 237 2023 90 2024 91 Thereafter 8 Total future minimum lease payments 712 Less: imputed interest (56 ) Total $ 656 |
Lessee, Operating Lease, Cash Payments and Weighted Average Infromation [Table Text Block] | Cash paid for operating leases $ 149 Right-of-use assets obtained in exchange for lease liabilities $ 380 Weighted average remaining lease term (years) – operating leases 3.4 Weighted average discount rate – operating leases 5 % |
Note 13 - Net Change in Opera_2
Note 13 - Net Change in Operating Assets and Liabilities (Tables) | 9 Months Ended |
Aug. 31, 2020 | |
Notes Tables | |
Cash Flow, Operating Capital [Table Text Block] | Nine months ended August 31, 2020 2019 Changes in operating assets and liabilities: Other assets $ 667 $ 603 Accounts payable and accrued liabilities 70 (273 ) Accrued payroll and related benefits (470 ) (382 ) $ 267 $ (52 ) |
Note 1 - Nature of Operations_2
Note 1 - Nature of Operations and Basis of Presentation (Details Textual) $ in Thousands | 9 Months Ended |
Aug. 31, 2020USD ($) | |
Revenues, Total | $ 0 |
Donlin Gold [Member] | |
Equity Method Investment, Ownership Percentage | 50.00% |
Note 2 - Summary of Significa_2
Note 2 - Summary of Significant Accounting Policies (Details Textual) - USD ($) $ in Thousands | Aug. 31, 2020 | Dec. 01, 2019 | Nov. 30, 2019 |
Operating Lease, Right-of-Use Asset | $ 648 | $ 0 | |
Operating Lease, Liability, Total | $ 656 | ||
Accounting Standards Update 2016-02 [Member] | |||
Operating Lease, Right-of-Use Asset | $ 399 | ||
Operating Lease, Liability, Total | $ 399 |
Note 4 - Notes Receivable (Deta
Note 4 - Notes Receivable (Details Textual) $ in Thousands | Jul. 27, 2018USD ($)yr | Aug. 31, 2020USD ($) |
Note Receivable Upon Completion of Galore Creek Project Pre-feasibility [Member] | ||
Financing Receivable, after Allowance for Credit Loss, Total | $ 75,000 | |
Receivable Instrument, Term (Year) | 3 years | |
Note Receivable Upon Completion of Galore Creek Project Pre-feasibility [Member] | Measurement Input, Expected Term [Member] | ||
Notes Receivable, Measurement Input | yr | 3 | |
Note Receivable Upon Completion of Galore Creek Project Feasibility [Member] | ||
Financing Receivable, after Allowance for Credit Loss, Total | $ 25,000 | |
Receivable Instrument, Term (Year) | 5 years | |
Note Receivable Upon Completion of Galore Creek Project Feasibility [Member] | Measurement Input, Expected Term [Member] | ||
Notes Receivable, Measurement Input | yr | 5 | |
Note Receivable Upon Approval of Galore Creek Project Construction Plan [Member] | ||
Financing Receivable, after Allowance for Credit Loss, Total | $ 75,000 | |
Notes Receivable, Fair Value Disclosure | 0 | $ 95,162 |
Financing Receivable, Accumulated Accretion | $ 6,764 | |
Notes Receivable Upon Completion Of Galore Creek Project [Member] | ||
Notes Receivable, Fair Value Disclosure | $ 88,398 | |
Notes Receivable Upon Completion Of Galore Creek Project [Member] | Measurement Input, Discount Rate [Member] | ||
Notes Receivable, Measurement Input | 0.036 |
Note 5 - Investment in Donlin_3
Note 5 - Investment in Donlin Gold (Details Textual) - Donlin Gold [Member] $ in Millions | Aug. 31, 2020USD ($) |
Equity Method Investment, Ownership Percentage | 50.00% |
Unconsolidated Ventures, Number of Directors | 4 |
Unconsolidated Ventures, Number of Directors, Selected By the Reporting Entity | 2 |
Equity Method Investment, Aggregate Cost | $ 64 |
Barrick [Member] | |
Unconsolidated Ventures, Number of Directors Selected By Venture Partners | 2 |
Barrick [Member] | |
Equity Method Investment, Ownership Percentage | 50.00% |
Note 5 - Investment in Donlin_4
Note 5 - Investment in Donlin Gold - Summary of the Company's Investment in Donlin Gold LLC (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Aug. 31, 2020 | Aug. 31, 2019 | Aug. 31, 2020 | Aug. 31, 2019 | Nov. 30, 2019 | |
Income (Loss) from Equity Method Investments, Total | $ (6,150) | $ (3,141) | $ (11,418) | $ (6,662) | |
Current assets: Cash, prepaid expenses and other receivables | 200,117 | 200,117 | $ 150,339 | ||
Current liabilities: Accounts payable and accrued liabilities | (968) | (968) | (880) | ||
Donlin Gold [Member] | |||||
Balance – beginning of period | 3,462 | 1,494 | 1,840 | 1,209 | |
Mineral property expenditures | (6,111) | (3,125) | (11,319) | (6,629) | |
Depreciation | (39) | (16) | (99) | (33) | |
Income (Loss) from Equity Method Investments, Total | (6,150) | (3,141) | (11,418) | (6,662) | |
Funding | 6,693 | 3,840 | 13,583 | 7,646 | |
Balance – end of period | 4,005 | $ 2,193 | 4,005 | $ 2,193 | |
Current assets: Cash, prepaid expenses and other receivables | 5,531 | 5,531 | 3,115 | ||
Non-current assets: Property and equipment | 1,264 | 1,264 | 462 | ||
Non-current assets: Mineral property | 32,692 | 32,692 | 32,692 | ||
Current liabilities: Accounts payable and accrued liabilities | (2,645) | (2,645) | (1,737) | ||
Non-current liabilities: Reclamation and lease obligations | (837) | (837) | (692) | ||
Net assets | $ 36,005 | $ 36,005 | $ 33,840 |
Note 6 - Other Assets - Carryin
Note 6 - Other Assets - Carrying Amounts of Other Assets (Details) - USD ($) $ in Thousands | Aug. 31, 2020 | Nov. 30, 2019 |
Accounts and interest receivable | $ 1,005 | $ 1,100 |
Prepaid expenses | 153 | 690 |
Other Assets, Current | 1,158 | 1,790 |
Marketable equity securities | 1,637 | 935 |
Right-of-use assets | 648 | 0 |
Office equipment | 36 | 42 |
Other Assets, Noncurrent, Total | $ 2,321 | $ 977 |
Note 7 - Promissory Note (Detai
Note 7 - Promissory Note (Details Textual) - Barrick [Member] - Notes Payable, Other Payables [Member] $ in Thousands | 9 Months Ended |
Aug. 31, 2020USD ($) | |
Notes Payable, Total | $ 108,375 |
Debt Instrument, Face Amount | 51,576 |
Interest Payable | $ 56,799 |
Percentage of Specified Revenue from Which the Promissory Note and Accrued Interest Are Payable | 85.00% |
Prime Rate [Member] | |
Debt Instrument, Basis Spread on Variable Rate | 2.00% |
Note 8 - Fair Value Accounting
Note 8 - Fair Value Accounting (Details Textual) - USD ($) $ in Thousands | Aug. 31, 2020 | Nov. 30, 2019 |
Equity Securities, FV-NI | $ 1,637 | $ 935 |
Note 9 - General and Administ_3
Note 9 - General and Administrative Expenses - Summary of General and Administrative Expenses (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Aug. 31, 2020 | Aug. 31, 2019 | Aug. 31, 2020 | Aug. 31, 2019 | |
Salaries and benefits | $ 1,483 | $ 1,562 | $ 4,722 | $ 4,724 |
Share-based compensation (Note 11) | 1,783 | 1,552 | 5,259 | 4,625 |
Office expense | 461 | 526 | 1,644 | 1,748 |
Professional fees | 669 | 193 | 1,251 | 783 |
Corporate communications and regulatory | 347 | 238 | 964 | 739 |
Depreciation | 2 | 4 | 6 | 11 |
General and Administrative Expense, Total | $ 4,745 | $ 4,075 | $ 13,846 | $ 12,630 |
Note 10 - Other Income (Expen_3
Note 10 - Other Income (Expense), Net - Summary of Other Income (Expense) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Aug. 31, 2020 | Aug. 31, 2019 | Aug. 31, 2020 | Aug. 31, 2019 | |
Interest income | $ 391 | $ 1,001 | $ 1,422 | $ 3,139 |
Change in fair market value of marketable securities | 372 | 190 | 662 | 248 |
Foreign exchange gain (loss) | (1,745) | (782) | (485) | 41 |
Other income | 0 | 92 | 0 | 92 |
Nonoperating Income (Expense), Total | $ (982) | $ 501 | $ 1,599 | $ 3,520 |
Note 11 - Share-based Compens_3
Note 11 - Share-based Compensation (Details Textual) - USD ($) $ in Thousands | 9 Months Ended | |
Aug. 31, 2020 | Nov. 30, 2019 | |
Share-based Payment Arrangement, Option [Member] | ||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total | $ 3,810 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Nonvested, Number of Shares, Ending Balance (in shares) | 4,681,000 | |
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year) | 2 years 3 months | |
Performance Share Units [Member] | ||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total | $ 3,779 | |
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year) | 2 years 3 months | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number, Ending Balance (in shares) | 1,684,000 | 1,664,000 |
Note 11 - Share-based Compens_4
Note 11 - Share-based Compensation - Summary of Share-based Compensation Expense (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Aug. 31, 2020 | Aug. 31, 2019 | Aug. 31, 2020 | Aug. 31, 2019 | |
Share-based Compensation Expense | $ 1,783 | $ 1,552 | $ 5,259 | $ 4,625 |
Share-based Payment Arrangement, Option [Member] | ||||
Share-based Compensation Expense | 1,095 | 928 | 3,196 | 2,765 |
Performance Share Units [Member] | ||||
Share-based Compensation Expense | 636 | 585 | 1,913 | 1,738 |
Deferred Share Units [Member] | ||||
Share-based Compensation Expense | $ 52 | $ 39 | $ 150 | $ 122 |
Note 11 - Share-based Compens_5
Note 11 - Share-based Compensation - Summary of Stock Options Outstanding (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 9 Months Ended | |
Aug. 31, 2020 | May 31, 2020 | |
Balance (in shares) | 12,527 | |
Weighted average exercise price outstanding, balance (in dollars per share) | $ 3.98 | |
Granted (in shares) | 1,781 | |
Granted, weighted average exercise price (in dollars per share) | $ 7.27 | |
Exercised (in shares) | (2,661) | |
Exercised, weighted average exercise price (in dollars per share) | $ 4.01 | |
Balance (in shares) | 11,647 | |
Weighted average exercise price outstanding, balance (in dollars per share) | $ 4.51 | |
Outstanding, weighted-average remaining contractual term (Year) | 2 years 3 months 29 days | |
Outstanding, aggregate intrinsic value | $ 71,012 | |
Vested and exercisable as of August 31, 2020 (in shares) | 6,966 | |
Vested and exercisable as of May 31, 2020, weighted average exercise price outstanding (in dollars per share) | $ 4.05 | |
Vested and exercisable as of May 31, 2020, weighted-average remaining contractual term (Year) | 1 year 6 months 29 days | |
Vested and exercisable as of May 31, 2020, aggregate intrinsic value | $ 45,163 |
Note 11 - Share-based Compens_6
Note 11 - Share-based Compensation - Other Information Related to Stock Options (Details) - USD ($) $ / shares in Units, $ in Thousands | 9 Months Ended | |
Aug. 31, 2020 | Aug. 31, 2019 | |
Expected volatility | 46.20% | 46.90% |
Expected term of options (Year) | 4 years | 4 years |
Expected dividend rate | 0.00% | 0.00% |
Risk-free interest rate | 1.50% | 2.70% |
Expected forfeiture rate | 3.10% | 3.10% |
Weighted-average grant-date fair value (in dollars per share) | $ 2.71 | $ 1.46 |
Intrinsic value of options exercised | $ 15,198 | $ 14,872 |
Cash received from options exercised | $ 0 | $ 0 |
Note 11 - Share-based Compens_7
Note 11 - Share-based Compensation - PSU Awards Outstanding and PSU Activity (Details) - Performance Share Units [Member] $ / shares in Units, $ in Thousands | 9 Months Ended |
Aug. 31, 2020USD ($)$ / sharesshares | |
Balance, Numbers of awards (in shares) | shares | 1,664,000 |
Balance, weighted average grant day fair value per award (in dollars per share) | $ / shares | $ 3.76 |
Granted, Numbers of awards (in shares) | shares | 452,000 |
Granted, weighted average grant day fair value per award (in dollars per share) | $ / shares | $ 6.92 |
Vested, Numbers of awards (in shares) | shares | (648,000) |
Vested, weighted average grant day fair value per award (in dollars per share) | $ / shares | $ 6.96 |
Performance adjustment, Numbers of awards (in shares) | shares | 216,000 |
Performance adjustment, weighted average grant day fair value per award (in dollars per share) | $ / shares | $ 6.96 |
Balance, Numbers of awards (in shares) | shares | 1,684,000 |
Balance, weighted average grant day fair value per award (in dollars per share) | $ / shares | $ 4.59 |
Balance, Aggregate intrinsic value | $ | $ 23,041 |
Note 11 - Share-based Compens_8
Note 11 - Share-based Compensation - Other PSU-related Information (Details) - USD ($) shares in Thousands, $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Aug. 31, 2020 | Aug. 31, 2019 | Aug. 31, 2020 | Aug. 31, 2019 | |
Withholding tax paid on PSUs vested | $ 0 | $ 0 | $ 1,652 | $ 1,197 |
Performance Share Units [Member] | ||||
Performance multiplier on PSUs vested | 150.00% | 82.00% | ||
Common shares issued (in shares) | 648 | 438 | ||
Total fair value of common shares issued | $ 2,855 | $ 1,607 | ||
Withholding tax paid on PSUs vested | $ 1,652 | $ 1,197 |
Note 12 - Leases (Details Textu
Note 12 - Leases (Details Textual) - USD ($) $ in Thousands | Feb. 01, 2020 | Aug. 31, 2020 |
Lessee, Operating Lease, Term of Contract (Year) | 5 years | |
Lessee, Operating Lease, Renewal Term (Year) | 5 years | |
Right-of-Use Asset Obtained in Exchange for Operating Lease Liability | $ 380 | $ 380 |
Note 12 - Leases - Lease Cost (
Note 12 - Leases - Lease Cost (Details) $ in Thousands | 9 Months Ended |
Aug. 31, 2020USD ($) | |
Operating lease cost | $ 157 |
Variable lease cost | 82 |
Short-term lease cost | 3 |
Lease, Cost, Total | $ 242 |
Note 12 - Leases - Minimum Leas
Note 12 - Leases - Minimum Lease Payments (Details) $ in Thousands | Aug. 31, 2020USD ($) |
2020 (excluding the nine months ended August 31, 2020) | $ 55 |
2021 | 231 |
2022 | 237 |
2023 | 90 |
2024 | 91 |
Thereafter | 8 |
Total future minimum lease payments | 712 |
Less: imputed interest | (56) |
Total | $ 656 |
Note 12 - Leases - Cash Payment
Note 12 - Leases - Cash Payments and Weighted Average Information (Details) - USD ($) $ in Thousands | Feb. 01, 2020 | Aug. 31, 2020 |
Cash paid for operating leases | $ 149 | |
Right-of-use assets obtained in exchange for lease liabilities | $ 380 | $ 380 |
Weighted average remaining lease term (years) – operating leases (Year) | 3 years 4 months 24 days | |
Weighted average discount rate – operating leases | 5.00% |
Note 13 - Net Change in Opera_3
Note 13 - Net Change in Operating Assets and Liabilities - Net Change in Operating Assets and Liabilities (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Aug. 31, 2020 | Aug. 31, 2019 | Aug. 31, 2020 | Aug. 31, 2019 | |
Other assets | $ 667 | $ 603 | ||
Accounts payable and accrued liabilities | 70 | (273) | ||
Accrued payroll and related benefits | (470) | (382) | ||
Increase (Decrease) in Operating Capital, Total | $ 832 | $ 1,143 | $ 267 | $ (52) |