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Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Nov. 30, 2023
Nov. 30, 2022
Operating activities    
Net loss for the year $ (9,356,577) $ (1,738,657)
Adjustments to reconcile net loss to net cash used in operating activities:    
Accretion 21,051 19,255
Depreciation 30,959
Share-based compensation [1] 423,831 65,303
Non-cash lease expenses 10,735
Foreign exchange translation gain 1,616
Changes in operating assets and liabilities    
Inventories (27,249)
Prepaid expenses and deferred costs (307,963) (90,074)
Other receivables (47,113) (68,000)
Accounts payable (268,149) 466,102
Accrued liabilities 85,126 23,922
Income tax payable 4,918
Net cash used in operating activities (9,428,815) (1,322,149)
Investing activities    
Construction of camp structures (866,140)
Purchase of equipment (113,383)
Net cash used in investing activities (979,523)
Financing activities    
Proceeds from initial public offering, net of underwriters’ fees and issuance costs 19,056,223
Proceeds from common shares issued for warrant exercise 3,363,204
Capital contributions from GoldMining 46,459 87,284
Withholding taxes on return of capital 53,935 (57,702)
Proceeds from settlement of funding commitment 1,158,143
Advance from GoldMining 1,003,142 183,302
Repayment of advance from GoldMining (1,680,925)
Net cash provided by financing activities 21,842,038 1,371,027
Net change in cash, cash equivalents and restricted cash 11,433,700 48,878
Cash, cash equivalents and restricted cash, beginning of year 54,508 5,630
Cash, cash equivalents and restricted cash, end of year 11,488,208 54,508
Supplemental disclosure of non-cash investing and financing activities:    
Common share issuance costs included in prepaid expenses and deferred costs 26,416
Allocation of share-based compensation expenses from GoldMining 54,348 60,065
ARO change in estimates included in camp structures $ (98,434)
[1] During the years ended November 30, 2023 and 2022, share-based compensation and management fees, salaries and benefits include costs allocated from GoldMining (Note 16).