The following discussion should be read in conjunction with our audited consolidated financial statements and the related notes for the years ended November 30, 2019 and 2018 that appear elsewhere in this annual report. The following discussion contains forward-looking statements that reflect our plans, estimates and beliefs. Our actual results could differ materially from those discussed in the forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to those discussed below and elsewhere in this annual report, particularly in the section entitled "Risk Factors" in Item 1A of this annual report.

Our audited consolidated financial statements are stated in United States Dollars and are prepared in accordance with United States Generally Accepted Accounting Principles.






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CASH REQUIREMENTS

We estimate our operating expenses and working capital requirements for the twelve months ending November 30, 2021 to be as follows:





Expense                                 Cost

General and administrative expenses   $  25,000
Management and administrative costs   $ 300,000
Legal Fees                            $  10,000
Auditor Fees                          $  15,000
Exploration                           $ 150,000
Total                                 $ 500,000

Of the $500,000 that we require for the next 12 months, we had $4,076 in cash as of November 30, 2019, and a working capital deficit of $801,072. In order to improve our liquidity, we plan to pursue additional equity or debt financing from private investors or possibly a registered public offering. We do not currently have any definitive arrangements in place for the completion of any further financings and there is no assurance that we will be successful in completing any further financings. If we are unable to achieve the necessary additional financing, then we plan to reduce the amounts that we spend on our business activities and administrative expenses in order to be within the amount of capital resources that are available to us.





RESEARCH AND DEVELOPMENT

We have not expended any funds on research and development since inception and we do not intend to allocate any funds to research and development over the twelve months ending November 30, 2021.

RESULTS OF OPERATIONS FOR THE YEARS ENDED NOVEMBER 30, 2019 AND 2018.

The following summary of our results of operations should be read in conjunction with our audited financial statements for the year ended November 30, 2019.





Our operating results for the year ended November 30, 2019 are summarized as
follows in comparison to our operating results for the same period ended
November 30, 2018:



                                                                Year Ended
                                                      November 30,       November 30,
                                                          2019               2018

Revenue                                              $            -     $            -
Operating Expenses                                   $      584,178     $      840,808
Net Loss                                             $     (647,942 )   $     (776,437 )
Foreign currency translation adjustment gain
(loss)                                               $      (15,254 )   $            -
Total comprehensive loss                             $     (663,196 )   $     (776,437 )




REVENUE

We have not earned any revenues since our inception and we do not anticipate earning revenues in the near future.






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OPERATING EXPENSES

Our general and administrative expenses for the year ended November 30, 2019 are outlined in the table below in comparison to our general and administrative expenses for the same period ended November 30, 2018:





                                              Year Ended
                                    November 30,       November 30,
                                        2019               2018

Accounting and Legal               $       41,596     $       43,070
Consulting fees                    $      352,779     $      604,800

Transfer agent and filing fees $ 22,865 $ 15,946 Exploration

$       66,151     $       55,846

Other general and administrative $ 100,787 $ 121,146 Total Operating Expenses

$      584,178     $      840,808

LIQUIDITY AND FINANCIAL CONDITION





WORKING CAPITAL



                                   At                 At            Percentage
                              November 30,       November 30,       Increase/
                                  2019               2018            Decrease

Current assets               $      105,925     $       11,959              786 %
Current liabilities          $      906,997     $      757,302               20 %
Working capital deficiency   $     (801,072 )   $     (745,343 )              7 %




CASH FLOWS



                                                           Year Ended
                                                 November 30,       November 30,
                                                     2019               2018

Net cash from (used in) operations              $     (411,544 )   $     (174,444 )
Net cash (used in) investing activities         $            -     $     (108,000 )

Net cash provided by financing activities $ 414,448 $ 283,075 Increase (Decrease) In Cash During the Period $ 2,904 $ 631

We had cash in the amount of $4,076 as of November 30, 2019 as compared to $1,172 as of November 30, 2018. We had working capital deficiency of $801,072 as of November 30, 2019 compared to a working capital deficiency of $745,343 as of November 30, 2018.

We have suffered recurring losses from operations. The continuation of our company is dependent upon our company attaining and maintaining profitable operations and raising additional capital as needed, but there can be no assurance that we will be able to raise any further financing.






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FUTURE FINANCINGS

We will require additional funds to implement our growth strategy for our new business. These funds may be raised through equity financing, debt financing, or other sources, which may result in further dilution in the equity ownership of our shares.

There can be no assurance that additional financing will be available to us when needed or, if available, that it can be obtained on commercially reasonable terms. If we are not able to obtain the additional financing on a timely basis, should it be required, or generate significant material revenues from operations, we will not be able to meet our other obligations as they become due and we will be forced to scale down or perhaps even cease our operations.





CONTRACTUAL OBLIGATIONS

As a "smaller reporting company", we are not required to provide tabular disclosure obligations.





GOING CONCERN

We have suffered recurring losses from operations and are dependent on our ability to raise capital from stockholders or other sources to meet our obligations and repay our liabilities arising from normal business operations when they become due. In their report on our audited financial statements for the year ended November 30, 2019, our independent auditors included an explanatory paragraph regarding concerns about our ability to continue as a going concern. Our financial statements contain additional note disclosure describing the circumstances that lead to this disclosure by our independent auditors.

OFF-BALANCE SHEET ARRANGEMENTS

We have no off-balance sheet arrangements that have or are reasonably likely to have a current or future effect on our financial condition, changes in financial condition, revenues or expenses, results of operations, liquidity, capital expenditures or capital resources that is material to stockholders.

SIGNIFICANT ACCOUNTING POLICIES

Please refer to Note 2 - Summary of Significant Accounting Policies in the accompanying Notes to the Consolidated Financial Statements.

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