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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
6 Months Ended
May 31, 2023
May 31, 2022
Operating activities    
Net loss for the period $ (3,186,668) $ (348,874)
Adjustments to reconcile net loss to net cash used in operating activities:    
Accretion 10,291 9,413
Share-based compensation 216,842 21,828
Changes in operating assets and liabilities    
Prepaid expenses and deferred costs (435,383) 3,873
Other receivables (68,385)
Accounts payable 178,295 (25)
Accrued liabilities 109,638 (2,182)
Net cash used in operating activities (3,175,370) (315,967)
Financing activities    
Proceeds from initial public offering, net of underwriters’ fees and issuance costs 19,137,835
Proceeds from common shares issued for warrant exercise 2,696,343
Capital contributions from GoldMining 30,560 24,702
Advance from GoldMining 1,003,142 290,407
Repayment of advance from GoldMining (1,680,925)
Net cash provided by financing activities 21,186,955 315,109
Net change in cash and cash equivalents 18,011,585 (858)
Balance, beginning of period 54,508 5,630
Balance, end of period 18,066,093 4,772
Supplemental disclosure of non-cash investing and financing activities:    
Assets under construction included in accrued liabilities 160,000
Common share issuance costs included in accounts payable 81,613
Common share issuance costs included in prepaid expenses and deferred costs 26,416
Allocation of share-based compensation expenses from GoldMining $ 46,468 $ 21,828