v3.26.1
Condensed Interim Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
May 31, 2026
May 31, 2025
Cash flows used in operating activities    
Loss for the period $ (13,408) $ (5,800)
Adjustments to reconcile net loss to cash flows used in operating activities    
Consulting fees settled by common shares   30
Office lease accounting   2
Loss on equity investment in Ambler Metals LLC 3,677 1,345
Loss on derivative carried at fair market value 3,791  
Unrealized foreign exchange gain (62) (3)
Stock-based compensation 3,770 2,597
Net change in non-cash working capital    
Decrease/(increase) in accounts receivable 12 (4)
Decrease in deposits and prepaid amounts 124 136
(Decrease)/increase in accounts payable and accrued liabilities (1,684) 272
Total cash flows used in operating activities (3,780) (1,425)
Cash flows from financing activities    
Proceeds from issuance of common shares, net of share issue costs 1,164  
Proceeds from exercise of options 276 202
Total cash flows from financing activities 1,440 202
Cash flows from investing activities    
Contribution to Ambler Metals LLC (10,500)  
Total cash used in investing activities (10,500)  
Change in cash (12,840) (1,223)
Effect of exchange rate on cash 65 5
Cash - beginning of the period 51,613 25,834
Cash - end of the period $ 38,838 $ 24,616