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 | |
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