v3.25.1
Note 5 - Mineral Rights and Properties
9 Months Ended
Apr. 30, 2025
Notes to Financial Statements  
Mineral Industries Disclosures [Text Block]

NOTE 5:

MINERAL RIGHTS AND PROPERTIES

 

Mineral Rights

 

As at April 30, 2025, we own mineral rights in the States of Arizona, New Mexico, Texas and Wyoming, in Canada and in the Republic of Paraguay.  These mineral rights were acquired through staking, purchase or lease or option agreements and are subject to varying royalty interests, some of which are indexed to the sale price of uranium.  

 

As at April 30, 2025, the carrying value of our mineral rights and properties were as follows:

 

Costs

 

United States

  

Canada

  

Paraguay

  

Total

 

Balance, July 31, 2024

 $172,540  $376,523  $15,014  $564,077 

Sweetwater Acquisition

  145,749   -   -   145,749 

Additions

  165   1   -   166 

Asset retirement obligations (Note 10)

  7,688   -   -   7,688 

Impact of foreign currency translation

  -   (42)  -   (42)

Balance, April 30, 2025

  326,142   376,482   15,014   717,638 

 

Accumulated Depletion and Amortization

 

United States

  

Canada

  

Paraguay

  

Total

 

Balance, July 31, 2024

  (6,389)  (105)  -   (6,494)

Additions

  (804)  -   -   (804)

Balance, April 30, 2025

  (7,193)  (105)  -   (7,298)
                 

Carrying Value

                

Balance, July 31, 2024

 $166,151  $376,418  $15,014  $557,583 

Balance, April 30, 2025

 $318,949  $376,377  $15,014  $710,340 

  

Mineral property expenditures recorded during the period are as follows:  

 

  

Three Months Ended April 30,

  

Nine Months Ended April 30,

 
  

2025

  

2024

  

2025

  

2024

 

Permitting and compliance

 $253  $394  $855  $1,733 

Property maintenance

  1,246   1,073   3,738   3,020 

Exploration

  3,079   4,668   8,919   9,985 

Development

  6,493   1,769   18,759   3,414 

Extraction readiness

  4,609   1,167   11,166   3,296 

Total

 $15,680  $9,071  $43,437  $21,448