v3.26.1
Note 4 - Mineral Rights and Properties
9 Months Ended
Apr. 30, 2026
Notes to Financial Statements  
Mineral Industries Disclosures [Text Block]

NOTE 4:

MINERAL RIGHTS AND PROPERTIES

 

Mineral Rights

 

As at  April 30, 2026, the Company owned mineral rights in the United States, Canada and 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, 2026, the carrying value of our mineral rights and properties were as follows:

 

Costs

 

United States

 

 

Canada

 

 

Paraguay

 

 

Total

 

Balance, July 31, 2025

 

$326,192

 

 

$376,027

 

 

$15,014

 

 

$717,233

 

Additions

 

 

715

 

 

 

-

 

 

 

-

 

 

 

715

 

Impact of foreign currency translation

 

 

-

 

 

 

2,599

 

 

 

-

 

 

 

2,599

 

Balance, April 30, 2026

 

 

$326,907

 

 

 

$378,626

 

 

 

$15,014

 

 

 

$720,547

 

 

Accumulated Depletion and Amortization

 

United States

 

 

Canada

 

 

Paraguay

 

 

Total

 

Balance, July 31, 2025

 

 

(7,477)

 

 

(105)

 

 

-

 

 

 

(7,582)

Additions

 

 

(975)

 

 

-

 

 

 

-

 

 

 

(975)

Impact of foreign currency translation

 

 

-

 

 

 

(1)

 

 

-

 

 

 

(1)

Balance, April 30, 2026

 

 

(8,452)

 

 

(106)

 

 

-

 

 

 

(8,558)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Carrying Value

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance, July 31, 2025

 

$318,715

 

 

$375,922

 

 

$15,014

 

 

$709,651

 

Balance, April 30, 2026

 

$318,455

 

 

$378,520

 

 

$15,014

 

 

$711,989

 

 

The Company has not established proven or probable reserves, as defined by the SEC under S-K 1300, for any of our mineral projects.  The Company has established the existence of mineral resources for certain uranium projects, including our ISR Mines.  Since the Company commenced uranium extraction at some of our ISR Mines without having established proven or probable reserves, there may be greater inherent uncertainty as to whether or not any mineralized material can be economically extracted as originally planned and anticipated.

 

Mineral property expenditures recorded during the period were as follows:

 

 

 

Three Months Ended April 30,

 

 

Nine Months Ended April 30,

 

 

 

 

2026

 

 

 

2025

 

 

 

2026

 

 

 

2025

 

Permitting and land payments

 

$2,604

 

 

$1,454

 

 

$6,669

 

 

$4,438

 

Extraction readiness and mine site maintenance

 

 

3,521

 

 

 

4,654

 

 

 

8,283

 

 

 

11,321

 

Exploration

 

 

7,625

 

 

 

3,079

 

 

 

15,665

 

 

 

8,919

 

Development

 

 

15,792

 

 

 

6,493

 

 

 

43,525

 

 

 

18,759

 

Total

 

$29,542

 

 

$15,680

 

 

$74,142

 

 

$43,437