v3.26.3
Segment Information
 3 Months Ended
Jul. 31, 2026
Segment Reporting [Abstract]  
Segment Information

15. Segment Information

The Company conducts its business as a single operating segment, being the acquiring and assembling a portfolio of royalties, fee surface rights and mineral rights, as well as investing in companies with exposure to uranium, physical uranium, trona or natural soda ash deposits and related assets. The Company also engages in the purchase and sale of physical uranium from time to time.

Our Chief Executive Officer, who serves as our Chief Operating Decision Maker (“CODM”), evaluates performance and allocates resources for the Company (being one reportable segment) based on income (loss) before income taxes, which is consistent with the results in the Company’s consolidated statements of income (loss) and comprehensive income (loss). The CODM uses income (loss) before income taxes to allocate resources, including decisions related to capital investments and potential royalty expansion opportunities. The significant segment expenses reviewed by the CODM are consistent with the operating expense line items presented in the Company’s consolidated statements of income (loss) and comprehensive income (loss).

Sales of Uranium Inventory

Sales of uranium inventory for the three months ended July 31, 2026 and 2025 were all generated in Canada.

Major Customers

Revenue from sales of uranium inventory from major customers for the three months ended July 31, 2026 and 2025 is summarized as follows:

 

For the three months ended July 31,

 

 

2026

 

 

2025

 

 

($)

 

 

($)

 

Customer A

 

 

8,600

 

 

 

—

 

Customer B

 

 

—

 

 

 

24,245

 

Customer C

 

 

12,925

 

 

 

—

 

Customer D

 

 

12,342

 

 

 

—

 

Customer E

 

 

17,100

 

 

 

—

 

Total

 

 

50,967

 

 

 

24,245

 

 

Long-lived assets by geographical region

 

Long-lived assets by geographical region as of:

 

As at July 31, 2026
($)

 

 

As at April 30, 2026
($)

 

Canada

 

 

24,493

 

 

 

25,188

 

Namibia

 

 

1,821

 

 

 

1,906

 

Spain

 

 

487

 

 

 

499

 

USA

 

 

1,758,763

 

 

 

16,428

 

 

 

 

1,785,564

 

 

 

44,021