Document And Entity Information
Document And Entity Information - USD ($) | 12 Months Ended | ||
Jul. 31, 2020 | Oct. 27, 2020 | Jan. 31, 2020 | |
Document Information [Line Items] | |||
Entity Registrant Name | URANIUM ENERGY CORP | ||
Entity Central Index Key | 0001334933 | ||
Trading Symbol | uec | ||
Current Fiscal Year End Date | --07-31 | ||
Entity Filer Category | Non-accelerated Filer | ||
Entity Current Reporting Status | Yes | ||
Entity Voluntary Filers | No | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Emerging Growth Company | false | ||
Entity Small Business | true | ||
Entity Interactive Data Current | Yes | ||
Entity Common Stock, Shares Outstanding (in shares) | 197,376,792 | ||
Entity Public Float | $ 152,449,266 | ||
Entity Shell Company | false | ||
Document Type | 10-K | ||
Document Period End Date | Jul. 31, 2020 | ||
Document Fiscal Year Focus | 2020 | ||
Document Fiscal Period Focus | FY | ||
Amendment Flag | false | ||
Title of 12(b) Security | Common Stock |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) | Jul. 31, 2020 | Jul. 31, 2019 |
CURRENT ASSETS | ||
Cash and cash equivalents | $ 5,147,703 | $ 6,058,186 |
Term deposits | 11,831,671 | |
Inventories | 211,662 | 211,662 |
Prepaid expenses and deposits | 1,111,152 | 1,343,458 |
Other current assets | 119,362 | 264,956 |
TOTAL CURRENT ASSETS | 6,589,879 | 19,709,933 |
MINERAL RIGHTS AND PROPERTIES | 63,655,503 | 63,536,895 |
PROPERTY, PLANT AND EQUIPMENT | 7,019,817 | 7,042,359 |
RESTRICTED CASH | 1,839,216 | 1,821,392 |
EQUITY-ACCOUNTED INVESTMENT | 11,515,327 | 8,680,449 |
OTHER NON-CURRENT ASSETS | 769,875 | 249,214 |
TOTAL ASSETS | 91,389,617 | 101,040,242 |
CURRENT LIABILITIES | ||
Accounts payable and accrued liabilities | 1,858,499 | 3,002,688 |
Other current liabilities | 147,569 | |
Due to a related party | 31,334 | 68,680 |
TOTAL CURRENT LIABILITIES | 2,037,402 | 3,071,368 |
LONG-TERM DEBT | 19,869,477 | 19,599,963 |
GOVERNMENT LOAN PAYABLE | 307,092 | |
ASSET RETIREMENT OBLIGATIONS | 3,734,314 | 3,541,082 |
OTHER NON-CURRENT LIABILITIES | 479,714 | 50,010 |
DEFERRED TAX LIABILITIES | 545,000 | 550,551 |
TOTAL LIABILITIES | 26,972,999 | 26,812,974 |
STOCKHOLDERS' EQUITY | ||
Common stock $0.001 par value: 750,000,000 shares authorized, 184,635,870 shares issued and outstanding (July 31, 2019 - 180,896,431) | 184,636 | 180,896 |
Additional paid-in capital | 341,059,972 | 336,047,595 |
Share issuance obligation | 103,554 | 187,100 |
Accumulated deficit | (276,811,300) | (262,200,784) |
Accumulated other comprehensive (loss) income | (120,244) | 12,461 |
TOTAL EQUITY | 64,416,618 | 74,227,268 |
TOTAL LIABILITIES AND EQUITY | 91,389,617 | 101,040,242 |
SUBSEQUENT EVENT |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parentheticals) - $ / shares | Jul. 31, 2020 | Jul. 31, 2019 |
Common stock, par value (in dollars per share) | $ 0.001 | $ 0.001 |
Common stock, shares authorized (in shares) | 750,000,000 | 750,000,000 |
Common stock, shares issued (in shares) | 184,635,870 | 180,896,431 |
Common stock, shares outstanding (in shares) | 184,635,870 | 180,896,431 |
Consolidated Statements of Oper
Consolidated Statements of Operations and Comprehensive Loss - USD ($) | 12 Months Ended | ||
Jul. 31, 2020 | Jul. 31, 2019 | Jul. 31, 2018 | |
COSTS AND EXPENSES | |||
Mineral property expenditures | $ 4,582,403 | $ 4,487,537 | $ 4,552,151 |
General and administrative | 9,441,898 | 10,142,035 | 11,407,206 |
Depreciation, amortization and accretion | 310,222 | 347,441 | 354,624 |
LOSS FROM OPERATIONS | (14,334,523) | (14,977,013) | (16,313,981) |
OTHER INCOME (EXPENSES) | |||
Interest income | 181,520 | 433,031 | 227,534 |
Interest expenses and finance costs | (3,460,970) | (3,249,881) | (2,952,202) |
Income (loss) from equity-accounted investment | 2,967,583 | (1,103,356) | 423,657 |
Other income | 27,980 | 134,545 | 82,543 |
Gain (loss) on disposition of assets | 2,343 | 1,595,513 | (1,696) |
OTHER EXPENSES | (281,544) | (2,190,148) | (2,220,164) |
LOSS BEFORE INCOME TAXES | (14,616,067) | (17,167,161) | (18,534,145) |
DEFERRED TAX BENEFITS | 5,551 | 14,372 | 707,511 |
NET LOSS FOR THE YEAR | (14,610,516) | (17,152,789) | (17,826,634) |
OTHER COMPREHENSIVE (LOSS) INCOME, NET OF INCOME TAXES | (132,705) | 12,461 | 118,343 |
TOTAL COMPREHENSIVE LOSS FOR THE YEAR | $ (14,743,221) | $ (17,140,328) | $ (17,708,291) |
NET LOSS PER SHARE, BASIC AND DILUTED (in dollars per share) | $ (0.08) | $ (0.10) | $ (0.11) |
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING, BASIC AND DILUTED (in shares) | 183,041,766 | 175,844,624 | 157,123,025 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) | 12 Months Ended | ||
Jul. 31, 2020 | Jul. 31, 2019 | Jul. 31, 2018 | |
OPERATING ACTIVITIES | |||
Net loss for the year | $ (14,610,516) | $ (17,152,789) | $ (17,826,634) |
Adjustments to reconcile net loss to cash flows in operating activities | |||
Stock-based compensation | 3,493,218 | 2,948,041 | 3,504,058 |
Depreciation, amortization and accretion | 310,222 | 347,441 | 354,624 |
Amortization of long-term debt discount | 1,669,514 | 1,464,989 | 1,180,139 |
Re-valuation of asset retirement obligations | (274,195) | ||
(Gain) loss on disposition of assets | (2,343) | (1,595,513) | 1,696 |
(Income) loss from equity-accounted investment | (2,967,583) | 1,103,356 | (423,657) |
Deferred tax benefits | (5,551) | (14,372) | (707,511) |
Realized loss on available-for-sale securities | 799 | ||
Reimbursable Expenses for Reno Creek acquisition | 483,829 | ||
Changes in operating assets and liabilities | |||
Prepaid expenses and deposits | 453,949 | (62,225) | 302,258 |
Other current assets | 145,594 | (86,395) | (61,416) |
Accounts payable and accrued liabilities | (1,243,838) | 679,522 | 681,286 |
Due to a related party | (37,346) | 67,873 | 39 |
Other liabilities | (76,031) | ||
NET CASH USED IN OPERATING ACTIVITIES | (12,870,711) | (12,573,468) | (12,511,289) |
FINANCING ACTIVITIES | |||
Proceeds from share issuance, net of issuance costs | 23,843,995 | 604,209 | |
Proceeds from government loans | 307,092 | ||
NET CASH PROVIDED BY FINANCING ACTIVITIES | 307,092 | 23,843,995 | 604,209 |
INVESTING ACTIVITIES | |||
Net cash and restricted cash received from a mineral property acquisition | 289,038 | ||
Investment in mineral rights and properties | (80,000) | (155,000) | (3,588,759) |
Purchase of property, plant and equipment | (83,838) | (137,287) | (12,304) |
Increase in other non-current assets | (346,474) | ||
Investment in term deposits | (29,858,126) | (21,771,253) | |
Proceeds from redemption of term deposits | 11,831,671 | 18,026,455 | 31,771,253 |
Proceeds from disposition of assets | 3,127 | 16,587 | |
NET CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES | 11,670,960 | (12,107,371) | 6,341,501 |
NET CHANGE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH | (892,659) | (836,844) | (5,565,579) |
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, BEGINNING OF PERIOD | 7,879,578 | 8,716,422 | 14,282,001 |
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, END OF PERIOD | $ 6,986,919 | $ 7,879,578 | $ 8,716,422 |
Consolidated Statements of Stoc
Consolidated Statements of Stockholders' Equity - USD ($) | Cumulative Effect, Period of Adoption, Adjustment [Member]Common Stock [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member]Additional Paid-in Capital [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member]Share Issuance Obligation [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member]Retained Earnings [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member]AOCI Attributable to Parent [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | Common Stock [Member] | Additional Paid-in Capital [Member] | Share Issuance Obligation [Member] | Retained Earnings [Member] | AOCI Attributable to Parent [Member] | Total |
Balance (in shares) at Jul. 31, 2017 | 139,815,124 | |||||||||||
Balance at Jul. 31, 2017 | $ 139,815 | $ 272,697,152 | $ 638,142 | $ (227,325,002) | $ (14,702) | $ 46,135,405 | ||||||
Issued upon exercise of stock options (in shares) | 1,094,589 | 1,365,625 | ||||||||||
Issued upon exercise of stock options | $ 1,095 | 528,955 | $ 530,050 | |||||||||
Issued upon exercise of warrants (in shares) | 61,799 | |||||||||||
Issued upon exercise of warrants | $ 62 | 74,097 | $ 74,159 | |||||||||
Issued for credit facility (in shares) | 641,574 | 641,574 | ||||||||||
Issued for credit facility | $ 641 | 899,359 | $ 900,000 | |||||||||
Issued in connection with mineral property acquisitions (in shares) | 17,061,592 | |||||||||||
Issued in connection with mineral property acquisitions | $ 17,062 | 23,754,561 | 23,771,623 | |||||||||
Issued for advance royalty payment (in shares) | 46,134 | |||||||||||
Issued for advance royalty payment | $ 46 | 61,774 | 61,820 | |||||||||
Issued for settlement of liabilities (in shares) | 565,499 | |||||||||||
Issued for settlement of liabilities | $ 566 | 845,258 | 845,824 | |||||||||
Common stock issued for consulting services (in shares) | 225,168 | |||||||||||
Common stock issued for consulting services | $ 225 | 349,609 | 349,834 | |||||||||
Common stock issued under Stock Incentive Plan (in shares) | 1,664,285 | |||||||||||
Common stock issued under Stock Incentive Plan | $ 1,664 | 2,348,057 | (638,142) | 1,711,579 | ||||||||
Amortization of stock-based compensation | 1,414,629 | 1,414,629 | ||||||||||
Issued for consulting services, warrants | 5,088,928 | 5,088,928 | ||||||||||
Net loss for the year | (17,826,634) | (17,826,634) | ||||||||||
Other comprehensive income | 118,343 | 118,343 | ||||||||||
Balance (in shares) at Jul. 31, 2018 | 161,175,764 | |||||||||||
Balance at Jul. 31, 2018 | $ 103,641 | $ (103,641) | $ 161,176 | 308,062,379 | (245,151,636) | 103,641 | $ 63,175,560 | |||||
Issued upon exercise of stock options (in shares) | 125,879 | 259,625 | ||||||||||
Issued upon exercise of stock options | $ 126 | 72,237 | $ 72,363 | |||||||||
Issued upon exercise of warrants (in shares) | 3,999,881 | |||||||||||
Issued upon exercise of warrants | $ 4,000 | 4,818,357 | 4,822,357 | |||||||||
Issued for credit facility (in shares) | 1,180,328 | |||||||||||
Issued for credit facility | $ 1,180 | 1,398,820 | 1,400,000 | |||||||||
Common stock issued for consulting services (in shares) | 165,404 | |||||||||||
Common stock issued for consulting services | $ 163 | 226,376 | 226,539 | |||||||||
Common stock issued under Stock Incentive Plan (in shares) | 886,126 | |||||||||||
Common stock issued under Stock Incentive Plan | $ 888 | 1,173,956 | 187,100 | 1,361,944 | ||||||||
Amortization of stock-based compensation | 1,359,558 | 1,359,558 | ||||||||||
Net loss for the year | (17,152,789) | (17,152,789) | ||||||||||
Other comprehensive income | 12,461 | 12,461 | ||||||||||
Issued for equity financing, net of issuance costs (in shares) | 12,613,049 | |||||||||||
Issued for equity financing, net of issuance costs | $ 12,613 | 15,978,348 | $ 15,990,961 | |||||||||
Issued in exchange of warrants pursuant to Securities Exchange Agreement (in shares) | 750,000 | 750,000 | ||||||||||
Issued in exchange of warrants pursuant to Securities Exchange Agreement | $ 750 | 976,814 | $ 977,564 | |||||||||
Issued for equity financing | 2,978,250 | 2,978,250 | ||||||||||
Exchanged for common stock pursuant to Securities Exchange Agreement | (4,950,000) | (4,950,000) | ||||||||||
Difference from Securities Exchange Agreement | 3,952,500 | 3,952,500 | ||||||||||
Balance (in shares) at Jul. 31, 2019 | 180,896,431 | |||||||||||
Balance at Jul. 31, 2019 | $ 180,896 | 336,047,595 | 187,100 | (262,200,784) | 12,461 | $ 74,227,268 | ||||||
Issued for credit facility (in shares) | 1,743,462 | 1,743,462 | ||||||||||
Issued for credit facility | $ 1,743 | 1,398,257 | $ 1,400,000 | |||||||||
Common stock issued for consulting services (in shares) | 380,933 | |||||||||||
Common stock issued for consulting services | $ 381 | 350,696 | 351,077 | |||||||||
Common stock issued under Stock Incentive Plan (in shares) | 1,509,200 | |||||||||||
Common stock issued under Stock Incentive Plan | $ 1,510 | 1,308,507 | (187,100) | 1,122,917 | ||||||||
Amortization of stock-based compensation | 2,085,491 | 2,085,491 | ||||||||||
Issued for consulting services, warrants | 22,733 | 22,733 | ||||||||||
Net loss for the year | (14,610,516) | (14,610,516) | ||||||||||
Other comprehensive income | (132,705) | (132,705) | ||||||||||
Issued (accrued) upon vesting of RSUs and PRSUs (in shares) | 105,844 | |||||||||||
Issued (accrued) upon vesting of RSUs and PRSUs | $ 106 | (153,307) | 103,554 | (49,647) | ||||||||
Balance (in shares) at Jul. 31, 2020 | 184,635,870 | |||||||||||
Balance at Jul. 31, 2020 | $ 184,636 | $ 341,059,972 | $ 103,554 | $ (276,811,300) | $ (120,244) | $ 64,416,618 |
Note 1 - Nature of Operations
Note 1 - Nature of Operations | 12 Months Ended |
Jul. 31, 2020 | |
Notes to Financial Statements | |
Nature of Operations [Text Block] | NOTE 1: NATURE OF OPERATIONS Uranium Energy Corp. was incorporated in the State of Nevada on May 16, 2003. At July 31, 2020, $4.6 $5.1 July 31, 2020, “September 2020 12,500,000 $1.20 $15 13: September 2020 12 12 Historically, we have been reliant primarily on equity financings from the sale of our common stock and on debt financing in order to fund our operations, and this reliance is expected to continue for the foreseeable future. Our continued operations, including the recoverability of the carrying values of our assets, are dependent ultimately on our ability to achieve and maintain profitability and positive cash flow from our operations. |
Note 2 - Summary of Significant
Note 2 - Summary of Significant Accounting Policies | 12 Months Ended |
Jul. 31, 2020 | |
Notes to Financial Statements | |
Business Description and Basis of Presentation [Text Block] | NOTE 2: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation and Principles of Consolidation These consolidated financial statements have been prepared in accordance with United States generally accepted accounting principles (“U.S. GAAP”) and are presented in United States dollars. All inter-company transactions and balances have been eliminated upon consolidation. Exploration Stage We have established the existence of mineralized materials for certain uranium projects, including the Palangana Mine. We have not 7, no November 2010, 7 Since we commenced extraction of mineralized materials at the Palangana Mine without having established proven or probable reserves, any mineralized materials established or extracted from the Palangana Mine should not In accordance with U.S. GAAP, expenditures relating to the acquisition of mineral rights are initially capitalized as incurred while exploration and pre-extraction expenditures are expensed as incurred until such time we exit the Exploration Stage by establishing proven or probable reserves. Expenditures relating to exploration activities, such as drill programs to establish mineralized materials, are expensed as incurred. Expenditures relating to pre-extraction activities such as the construction of mine wellfields, ion exchange facilities and disposal wells, are expensed as incurred until such time proven or probable reserves are established for that project, after which expenditures relating to mine development activities for that particular project are capitalized as incurred. Companies in the Production Stage as defined under Industry Guide 7, no may not Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amount of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported revenues and expenses during the reported periods. Significant areas requiring management's estimates and assumptions include valuation and measurement of impairment losses on mineral rights and properties, valuation of stock-based compensation and asset retirement obligations. Other areas requiring estimates include allocations of expenditures to inventories, depletion and amortization of mineral rights and properties and depreciation of property, plant and equipment. Actual results could differ significantly from those estimates and assumptions. Foreign Currency Translation The functional currency of our Company, including its subsidiaries, is the United States dollar. Our subsidiaries, UEC Resources Ltd., UEC Resources (SK) Ltd. and Cue Resources Ltd., maintain their accounting records in their local currency, the Canadian dollar. Piedra Rica Mining S.A., Transandes Paraguay S.A., MYNM, Trier S.A. and other Paraguayan subsidiaries maintain their accounting records in their local currency, the Paraguayan Guarani. In accordance with ASC 830: Cash and Cash Equivalents Cash and cash equivalents consist of cash balances and term deposits with an original maturity of three Term Deposits Term deposits include short-term deposits held with banks with maturities from three one Equity-Accounted Investments Investments in an entity in which our ownership is greater than 20% 50%, 323: Other Non-Current Assets Other non-current assets include future expenditures that we have paid in advance but will not one not Mineral Rights Acquisition costs of mineral rights are initially capitalized as incurred while exploration and pre-extraction expenditures are expensed as incurred until such time proven or probable reserves, as defined by the SEC under Industry Guide 7, Where proven and probable reserves have been established, in accordance with Industry Guide 7, not not Databases Expenditures relating to mineral property databases are capitalized upon acquisition while those developed internally are expensed as incurred. Mineral property databases are amortized using the straight-line method over a five Property, Plant and Equipment Property, plant and equipment are recorded at cost and depreciated to their estimated residual values using the straight-line method over their estimated useful lives, as follows: ● Hobson processing facility: 20 ● Mining and logging equipment and vehicles: 5 10 ● Computer equipment: 3 ● Furniture and fixtures: 5 ● Building: 20 Impairment of Long-Lived Assets Long-lived assets are reviewed for impairment whenever events or changes in circumstances indicate the carrying amount of an asset may not not not Income Taxes We account for income taxes under the asset and liability method which requires the recognition of deferred income tax assets and liabilities for the expected future tax consequences of temporary differences between the carrying amounts and tax bases of assets and liabilities. We provide a valuation allowance on deferred tax assets unless it is more likely than not Restoration and Remediation Costs (Asset Retirement Obligations) Various federal and state mining laws and regulations require our Company to reclaim the surface areas and restore underground water quality to the pre-existing quality or class of use after the completion of mining. We recognize the present value of the future restoration and remediation costs as an asset retirement obligation in the period in which we incur an obligation associated with the retirement of tangible long-lived assets that result from the acquisition, construction, development and/or normal use of the assets. Asset retirement obligations consist of estimated final well closure, plant and equipment decommissioning and removal and environmental remediation costs to be incurred by our Company in the future. The asset retirement obligation is estimated based on the current costs escalated at an inflation rate and discounted at a credit adjusted risk-free rate. The asset retirement obligations are capitalized as part of the costs of the underlying assets and amortized over its remaining useful life. The asset retirement obligations are accreted to an undiscounted value until they are settled. The accretion expenses are charged to earnings and the actual retirement costs are recorded against the asset retirement obligations when incurred. Any difference between the recorded asset retirement obligations and the actual retirement costs incurred will be recorded as a gain or loss in the period of settlement. Long- T erm Debt Long-Term Debt is carried at amortized cost. Debt issuance costs, debt premiums and discounts and annual fees are included in the long-term debt balance and amortized using the effective interest rate over the contractual terms of the Long-Term Debt. Leases We determine if a contractual arrangement represents or contains a lease at inception. Operating leases with lease terms greater than 12 Operating and finance lease ROU assets and lease liabilities are recognized based on the present value of the future lease payments over the lease term at the commencement date. When the rate implicit to the lease cannot be readily determined, we utilize the incremental borrowing rate in determining the present value of the future lease payments. The incremental borrowing rate is the rate of interest our Company would have to pay to borrow on a collateralized basis over a similar term and the amount equal to the lease payments in a similar economic environment. The operating lease expenses are recognized on a straight-line basis over the lease term and included in general and administration expenses. Short-term leases, which have an initial term of 12 not We have leases arrangements that include both lease and non-lease components. We account for each separate lease component and its associated non-lease components as a single lease component for all of our asset classes. Stock-Based Compensation We measure stock-based awards at fair value on the date of the grant and expense the awards in our Consolidated Statements of Operations and Comprehensive Loss over the requisite service period of employees or consultants. The fair value of stock options is determined using the Black-Scholes valuation model. The fair value of restricted stock units (“RSU”s) is determined using the share price of the Company at the date of grant. The fair value of performance based restricted stock units (“PRSU”s) is determined using the Monte Carlo simulation model. Stock-based compensation expense related to stock option awards is recognized over the requisite service period on an accelerating basis. Forfeitures are accounted for as they occur. The Company's estimates may not Earnings (Loss) P er Common Share Basic earnings or loss per share includes no Recent ly Adopted Accounting Standards In February 2016 2016 02, “842” Effective August 1, 2019, not We elected the following optional practical expedients: ● we elected the short-term lease recognition exemption whereby ROU assets and lease liabilities will not one ● we elected the land easements practical expedient whereby existing land easements are not ● we elected hindsight practical expedient when determining lease term; and ● we elected the practical expedient not Based on contracts outstanding at August 1, 2019, $876,590, $92,235 $784,355. not 12: |
Note 3 - Mineral Rights and Pro
Note 3 - Mineral Rights and Properties | 12 Months Ended |
Jul. 31, 2020 | |
Notes to Financial Statements | |
Mineral Industries Disclosures [Text Block] | NOTE 3 : MINERAL RIGHTS AND PROPERTIES Mineral Rights At July 31, 2020, July 31, 2020, $1,506,000 The carrying value of these mineral rights and properties are as follows: July 31, 2020 July 31, 2019 Mineral Rights and Properties Palangana Mine $ 6,027,784 $ 6,027,784 Goliad Project 8,689,127 8,689,127 Burke Hollow Project 1,495,750 1,495,750 Longhorn Project 116,870 116,870 Salvo Project 14,905 14,905 Anderson Project 3,470,373 3,470,373 Workman Creek Project 799,854 699,854 Los Cuatros Project 257,250 257,250 Slick Rock Project 30,000 - Reno Creek Project 31,527,870 31,527,870 Diabase Project 546,938 546,938 Yuty Project 11,947,144 11,947,144 Oviedo Project 1,133,412 1,133,412 Alto Paraná Titanium Project 1,433,030 1,433,030 Other Property Acquisitions 91,080 91,080 67,581,387 67,451,387 Accumulated Depletion (3,929,884 ) (3,929,884 ) 63,651,503 63,521,503 Databases 2,410,038 2,410,038 Accumulated Amortization (2,410,038 ) (2,409,188 ) - 850 Land Use Agreements 48,770 404,310 Accumulated Amortization (44,770 ) (389,768 ) 4,000 14,542 $ 63,655,503 $ 63,536,895 We have not 7, may not The Palangana Mine has been the Company's sole source to generate sales revenues from uranium concentrates. The Palangana Mine generated revenues during Fiscal 2012, 2013 2015, no not may one no During the year ended July 31, 2019 ( 2019” 1% 6: December 4, 2018, 12,000,000 $9,077,842. The fair value of the Consideration Shares, net of transaction costs of $55,787, Fair value of Consideration Shares $ 9,077,842 Transaction costs 55,787 Net consideration $ 9,022,055 Net consideration allocation to: Allocation % Net Consideration Allocation Anderson Project 63 % $ 5,683,895 Workman Creek Project 12 % 1,082,646 Slick Rock Project 25 % 2,255,514 100 % $ 9,022,055 The net consideration allocation amounts have reduced the carrying value of the Anderson Project by $5,683,895, $1,082,646 $676,650. $2,255,514 $676,650 $1,578,864, 2019. Mineral property expenditures incurred by major projects were as follows: Year Ended July 31, 2020 2019 2018 Mineral Property Expenditures Palangana Mine $ 1,342,927 $ 1,027,139 $ 1,047,635 Goliad Project 190,278 96,789 105,264 Burke Hollow Project 1,130,467 1,616,601 675,605 Longhorn Project 17,023 45,848 14,401 Salvo Project 28,318 35,923 36,056 Anderson Project 71,170 81,414 68,167 Workman Creek Project 32,700 30,709 31,300 Slick Rock Project 52,521 53,843 52,218 Reno Creek Project 596,551 655,807 1,278,959 Yuty Project 65,679 102,882 425,298 Oviedo Project 350,211 288,324 119,082 Alto Paraná Titanium Project 230,350 168,956 175,768 Other Mineral Property Expenditures 474,208 557,497 522,398 Revaluation of Asset Retirement Obligations - (274,195 ) - $ 4,582,403 $ 4,487,537 $ 4,552,151 United States Projects ● Palangana Mine, Texas We hold various mining lease and surface use agreements granting us the exclusive right to explore, develop and mine for uranium at the Palangana Mine, a 6,987 100 five During Fiscal 2019, $258,114 $274,195 11: During Fiscal 2020, 2019, 2018, no ● Goliad Project, Texas We hold various mining lease and surface use agreements granting us the exclusive right to explore, develop and mine for uranium at the Goliad Project, a 995 five ● Burke Hollow Project, Texas We hold various mining lease and surface use agreements granting us the exclusive right to explore, develop and mine for uranium at the Burke Hollow Project, a 19,335 five ● Longhorn Project, Texas We hold various mining lease and surface use agreements granting us the exclusive right to explore, develop and mine for uranium at the Longhorn Project, a 651 five ● Salvo Project, Texas We hold various mining lease and surface use agreements granting us the exclusive right to explore, develop and mine for uranium at the Salvo Project, a 1,340 five ● Anderson Project, Arizona We hold an undivided 100% 8,268 During Fiscal 2019, $9,154,268 July 31, 2018 $5,683,895 $3,470,373 July 31, 2019 July 31, 2020. ● Workman Creek Project, Arizona We hold an undivided 100% 4,036 3.0% $50,000 2016 2017, $100,000 1.5% $1,000,000 January 21, 2024. 0.5% $333,340 January 21, 2024. During Fiscal 2020, $100,000 2019: $125,000 During Fiscal 2019, $1,082,646. ● Los Cuatros Project, Arizona We hold an undivided 100% 640 ● Slick Rock Project, Colorado We hold an undivided 100% 5,333 1.0% 3.0% November 2017. During Fiscal 2020 2019, $30,000 $30,000, During Fiscal 2019, $2,255,514 $676,650, $1,578,864 2019. ● Reno Creek Project, Wyoming The consolidated Reno Creek Project consists of U.S. federal mineral lode claims, state mineral leases, various private mineral leases and certain surface use agreements which grant us the exclusive right to explore, develop and mine for uranium on a 18,763 five 20 Canadian Project ● Diabase Project, Canada We hold a 100% 54,236 10 Paraguay Projects During Fiscal 2018 2019, not ● Yuty Project, Paraguay The Yuty Project is a 289,680 one $0.21 ● Oviedo Project, Paraguay The Oviedo Project is a 223,749 one 1.5% 0.5% $166,667 first 1.0%. ● Alto Paran á Titanium Project, Paraguay The Alto Paraná Titanium Project is a 174,200 1.5% July 2023, 0.5% $500,000. |
Note 4 - Property, Plant and Eq
Note 4 - Property, Plant and Equipment | 12 Months Ended |
Jul. 31, 2020 | |
Notes to Financial Statements | |
Property, Plant and Equipment Disclosure [Text Block] | NOTE 4 : PROPERTY, PLANT AND EQUIPMENT Property, plant and equipment consisted of the following: July 31, 2020 July 31, 2019 Cost Accumulated Net Book Cost Accumulated Net Book Hobson Processing Facility $ 6,642,835 $ (773,933 ) $ 5,868,902 $ 6,642,835 $ (773,933 ) $ 5,868,902 Mining Equipment 2,393,579 (2,342,518 ) 51,061 2,467,557 (2,402,681 ) 64,876 Logging Equipment and Vehicles 1,924,969 (1,736,806 ) 188,163 1,950,229 (1,730,905 ) 219,324 Computer Equipment 550,243 (486,467 ) 63,776 572,551 (546,652 ) 25,899 Furniture and Fixtures 170,701 (169,946 ) 755 170,701 (169,379 ) 1,322 Land and Buildings 889,606 (42,446 ) 847,160 889,606 (27,570 ) 862,036 $ 12,571,933 $ (5,552,116 ) $ 7,019,817 $ 12,693,479 $ (5,651,120 ) $ 7,042,359 Hobson Processing Facility During Fiscal 2019, $176,253 During Fiscal 2020, 2019 2018, no no |
Note 5 - Restricted Cash
Note 5 - Restricted Cash | 12 Months Ended |
Jul. 31, 2020 | |
Notes to Financial Statements | |
Restricted Cash [Text Block] | NOTE 5 : RE STRICTED CASH Restricted cash includes cash and cash equivalents and money market funds as collateral for various bonds posted in favor of applicable state regulatory agencies in Arizona, Texas and Wyoming, for estimated reclamation costs associated with our Palangana Mine, Hobson Processing Facility, Reno Creek Project and Anderson Project. Restricted cash will be released upon completion of reclamation of a mineral property or restructuring of a surety and collateral arrangement. July 31, 2020 July 31, 2019 Restricted cash, beginning of period $ 1,821,392 $ 1,789,899 Interest received 17,824 31,493 Restricted cash, end of period $ 1,839,216 $ 1,821,392 Cash, cash equivalents and restricted cash are included in the following accounts at July 31, 2020 2019: July 31, 2020 July 31, 2019 Cash and cash equivalents $ 5,147,703 $ 6,058,186 Restricted cash 1,839,216 1,821,392 Total cash, cash equivalents and restricted cash $ 6,986,919 $ 7,879,578 |
Note 6 - Equity-accounted Inves
Note 6 - Equity-accounted Investment | 12 Months Ended |
Jul. 31, 2020 | |
Notes to Financial Statements | |
Equity Method Investments and Joint Ventures Disclosure [Text Block] | NOTE 6 : EQUITY-ACCOUNTED INVESTMENT During Fiscal 2019, 12,000,000 14,000,000 32.6% July 31, 2019. 3: During Fiscal 2020, July 31, 2020, $12.1 As at July 31, 2020, 19.5% July 31, 2019: 32.6%; July 31, 2018: 11.3% two one July 31, 2020. During Fiscal 2020, 2019 2018, Balance, July 31, 2017 $ 151,676 Share of income from URC 29,001 Gain on ownership interest dilution 394,656 Share of other comprehensive income 118,169 Balance, July 31, 2018 693,502 Share consideration received from sale of royalty interests 9,077,842 Share of loss from URC (1,858,901 ) Gain on ownership interest dilution 755,545 Translation gain 12,461 Balance, July 31, 2019 8,680,449 Share of loss from URC (89,073 ) Gain on ownership interest dilution 3,056,656 Translation loss (132,705 ) Balance, July 31, 2020 $ 11,515,327 |
Note 7 - Other Non-current Asse
Note 7 - Other Non-current Assets | 12 Months Ended |
Jul. 31, 2020 | |
Notes to Financial Statements | |
Other Assets Disclosure [Text Block] | NOTE 7: OTHER NON-CURRENT ASSETS At July 31, 2020, $769,875 July 31, 2019: $249,214 $653,304 July 31, 2019: $Nil $116,571 July 31, 2019: $249,214 |
Note 8 - Due to Related Parties
Note 8 - Due to Related Parties and Related Party Transactions | 12 Months Ended |
Jul. 31, 2020 | |
Notes to Financial Statements | |
Related Party Transactions Disclosure [Text Block] | NOTE 8 : DUE TO RELATED PARTIES AND RELATED PARTY TRANSACTIONS During Fiscal 2020, $98,150 2019: $149,692 2018: $148,081 During Fiscal 2018, 104,706 $141,678 At July 31, 2020, $31,334 July 31, 2019: $68,680 During Fiscal 2019, 12,000,000 6: |
Note 9 - Long-term Debt
Note 9 - Long-term Debt | 12 Months Ended |
Jul. 31, 2020 | |
Notes to Financial Statements | |
Long-term Debt [Text Block] | NOTE 9 : LONG-TERM DEBT On December 5, 2018, $20,000,000 The key terms of the Third Amended and Restated Credit Agreement are summarized as follows: ● extension of the maturity date from January 1, 2020 January 31, 2022; ● deferral of the prior monthly principal payments until the new maturity date of January 31, 2022; ● issuance on signing in Fiscal 2019 third 7% $1,400,000 1,180,328 ● payment of anniversary fees to the Lenders on each of November 30, 2019, 2020 2021, 7%, 6.5% 6%, 10% five Under the terms of the Third Amended and Restated Credit Agreement, the Credit Facility remains non-revolving with an amended term from inception of 8.5 January 31, 2022, 8% 16.67% $20,000,000 January 31, 2022 $1,400,000, $1,300,000 $1,200,000, November 30, 2019, 2020 2021, The Third Amended and Restated Credit Agreement supersedes, in their entirety, the Second Amended and Restated Credit Agreement, dated and effective February 9, 2016, March 13, 2014, July 30, 2013, At July 31, 2020, July 31, 2020 July 31, 2019 Principal amount $ 20,000,000 $ 20,000,000 Unamortized discount and accrued fees (130,523 ) (400,037 ) Long-term debt, net of unamortized discount $ 19,869,477 $ 19,599,963 During Fiscal 2020 1,743,462 $1,400,000, 7% $20,000,000 October 31, 2019, During Fiscal 2018 641,574 $900,000, 4.5% $20,000,000 January 31, 2018, In Fiscal 2020, $1,669,514 2019: $1,464,989; 2018: $1,180,139 The shares issued to the Lenders either as the third The aggregate yearly maturities of long-term debt based on principal amounts outstanding at July 31, 2020 Fiscal 2021 $ - Fiscal 2022 20,000,000 Total $ 20,000,000 |
Note 10 - Government Loan Payab
Note 10 - Government Loan Payable | 12 Months Ended |
Jul. 31, 2020 | |
Notes to Financial Statements | |
Government Loan Payable [Text Block] | NOTE 10: GOVERNMENT LOAN PAYABLE In April 2020, $29,842 CAD$40,000 19 December 31, 2022 ( may December 31, 2025. 0% 5% 75% On April 28, 2020, Coronavirus Aid, Relief, and Economic Security Act March 27, 2020 19 $277,250, May 5, 2020. Under the PPP Program the repayment of these loans, including interest, will be forgiven based on payroll, payroll-related and other allowable costs incurred in the eight ● that not 60% ● that the remaining 40% 60%, February 15, 2020 February 15, 2020; ● to maintain employee compensation levels (subject to specific program requirements). The PPP Program provides for an initial six 10 two April 28, 2022 1% At July 31, 2020, 470: $307,092 July 31, 2019: $Nil Subsequent to July 31, 2020, |
Note 11 - Asset Retirement Obli
Note 11 - Asset Retirement Obligations | 12 Months Ended |
Jul. 31, 2020 | |
Notes to Financial Statements | |
Asset Retirement Obligation Disclosure [Text Block] | NOTE 11 : ASSET RETIREMENT OBLIGATIONS The Company's asset retirement obligations (AROs) relate to future remediation and decommissioning activities at our Palangana Mine, Hobson Processing Facility and the Alto Parana Titanium Project pilot plant in Paraguay. Balance, July 31, 2019 $ 3,541,082 Accretion 193,232 Balance, July 31, 2020 $ 3,734,314 During Fiscal 2019, $532,309, $176,253. 3: 4: The estimated amounts and timing of cash flows and assumptions used for the ARO estimates are as follows: July 31, 2020 July 31, 2019 Undiscounted amount of estimated cash flows $ 8,221,018 $ 8,221,018 Payable in years 9 to 21 9 to 21 Inflation rate 1.56% to 2.17% 1.56% to 2.17% Discount rate 5.50% to 5.96% 5.50% to 5.96% The undiscounted amounts of estimated cash flows for the next five Fiscal 2021 $ - Fiscal 2022 - Fiscal 2023 - Fiscal 2024 - Fiscal 2025 - Remaining balance 8,221,018 $ 8,221,018 |
Note 12 - Lease Liabilities
Note 12 - Lease Liabilities | 12 Months Ended |
Jul. 31, 2020 | |
Notes to Financial Statements | |
Lessee, Operating Leases [Text Block] | NOTE 12: LEASE LIABILITIES The Company primarily has operating leases for corporate offices and a processing facility with a remaining term of 0.7 18.8 July 31, 2020. 12 not During Fiscal 2020 Year Ended July 31, 2020 Operating leases $ 229,706 Short-term leases 445,287 Total Lease Expenses $ 674,993 As at July 31, 2020, 15.4 4.7%. During Fiscal 2020, $176,425. Minimum future lease payments under operating leases with terms longer than one Fiscal 2021 $ 161,747 Fiscal 2022 220,000 Fiscal 2023 20,000 Fiscal 2024 20,000 Fiscal 2025 20,000 Thereafter 300,000 Total lease payments 741,747 Less: imputed interest (164,474 ) Present value of lease liabilities $ 577,273 Currrent portion of lease liabilities $ 139,069 Non-curent portion of lease liabilities $ 438,204 Current lease liabilities are included in Other Current Liabilities, and non-current liabilities are included in Other Non-Current Liabilities in our Consolidated Balance Sheets. |
Note 13 - Capital Stock
Note 13 - Capital Stock | 12 Months Ended |
Jul. 31, 2020 | |
Notes to Financial Statements | |
Stockholders' Equity Note Disclosure [Text Block] | NOTE 1 3 : CAPITAL STOCK Equity Financing Subsequent to July 31, 2020, September 2020 12,500,000 $1.20 $15,000,000. one one one one $1.80 24 September 2020 583,333 $1.80 24 On October 3, 2018, 12,613,049 $1.60 $20,180,878 “October 2018 one one one one $2.05 30 October 2018 756,782 $2.05 30 The shares were valued at the Company's closing price of $1.54 October 3, 2018. Expected Risk Free Interest Rate 2.90 % Expected Annual Volatility 63.30 % Expected Contractual Life in Years 2.50 Expected Annual Dividend Yield 0.00 % The net proceeds from the October 2018 Fair Value of Shares $ 19,424,095 Fair Value of Share Purchase Warrants 3,094,693 Total Fair Value Before Allocation to Net Proceeds $ 22,518,788 Gross Proceeds $ 20,180,878 Share Issuance Costs - Cash (1,211,667 ) Net Cash Proceeds Received $ 18,969,211 Relative Fair Value Allocation to: Shares $ 16,362,327 Share Purchase Warrants 2,606,884 $ 18,969,211 Share Transactions During Fiscal 2019, 11,000,000 11,000,000 750,000 $1.33 $2.30 August 9, 2022, $0.45 August 9, 2017, $4,950,000 $997,500 no Share Purchase Warrants During Fiscal 2019, $4,822,357 3,999,881 $1.21 A continuity schedule of outstanding share purchase warrants as at July 31, 2020, Number of Weighted Average Balance, July 31, 2017 19,676,560 $ 1.78 Issued 11,358,728 2.30 Exercised (61,799 ) 1.20 Expired (50,000 ) 1.95 Balance, July 31, 2018 30,923,489 1.97 Issued 7,063,253 2.05 Exercised (3,999,881 ) 1.21 Expired (3,542,951 ) 2.13 Exchanged for shares pursuant to Securities Exchange Agreement (11,000,000 ) 2.30 Balance, July 31, 2019 19,443,910 1.94 Issued 300,000 1.38 Expired (12,021,929 ) 1.87 Balance, July 31, 2020 7,721,981 $ 2.03 A summary of share purchase warrants outstanding and exercisable as at July 31, 2020 Weighted Average Number of Warrants Weighted Average Remaining Contractual Expiry Date $ 1.25 150,000 0.40 December 23, 2020 1.50 150,000 0.40 December 23, 2020 2.05 7,063,253 0.67 April 3, 2021 2.30 308,728 2.02 August 9, 2022 1.64 50,000 2.80 May 21, 2023 $ 2.03 7,721,981 0.73 Stock Options At July 31, 2020, one 2020 “2020 2019 no During Fiscal 2020, 4,838,900 2019: 2,006,350; 2018: 4,083,000 24 first three six 12.5% 12, 18 24 25% 1,325,000 three one third second third 2020 2019 10 2018 five The fair value of these stock options was estimated at the date of grant, using the Black-Scholes Option Valuation Model, with the following weighted average assumptions: Year Ended July 31, 2020 2019 2018 Expected Risk Free Interest Rate 0.40 % 1.86 % 2.24 % Expected Volatility 60.48 % 65.62 % 67.60 % Expected Life in Years 4.9 4.9 3.1 Expected Dividend Yield 0 % 0 % 0 % Weighted-Average Grant Date Fair Value $ 0.45 $ 0.53 $ 0.68 A continuity schedule of outstanding stock options at July 31, 2020, Number of Stock Options Weighted Average Exercise Price Balance, July 31, 2017 12,260,500 $ 1.33 Granted 4,083,000 1.40 Exercised (1,365,625 ) 0.70 Forfeited (66,250 ) 1.24 Balance, July 31, 2018 14,911,625 1.41 Granted 2,006,350 0.97 Exercised (259,625 ) 1.12 Cancelled/Forfeited (910,000 ) 2.41 Expired (10,000 ) 1.50 Balance, July 31, 2019 15,738,350 1.30 Granted 6,163,900 0.95 Cancelled/Forfeited (179,344 ) 1.02 Expired (6,208,156 ) 1.39 Balance, July 31, 2020 15,514,750 $ 1.13 The table below sets forth the number of shares issued and cash received upon exercise of the stock options: Year Ended July 31, 2020 2019 2018 Number of Shares Issued Upon Exercise of Options - 125,879 1,094,589 Number of Options Exercised on Forfeiture Basis - 193,375 580,625 Number of Net Shares Issued - 59,629 309,589 Number of Options Exercised on Cash Basis - 66,250 785,000 Cash Received from Exercise of Stock Options $ - $ 72,363 $ 530,050 Total Intrinsic Value of Options Exercised $ - $ 134,174 $ 1,049,694 A continuity schedule of outstanding unvested stock options at July 31, 2020, Number of Unvested Stock Options Weighted Average Grant-Date Fair Value Balance, July 31, 2017 765,750 $ 0.58 Granted 4,083,000 0.68 Vested (1,303,000 ) 0.65 Forfeited (66,250 ) 0.62 Balance, July 31, 2018 3,479,500 0.68 Granted 2,006,350 0.53 Vested (2,055,250 ) 0.68 Forfeited (120,000 ) 0.67 Balance, July 31, 2019 3,310,600 0.59 Granted 6,163,900 0.45 Vested (2,590,154 ) 0.60 Cancelled/Forfeited (86,875 ) 0.43 Balance, July 31, 2020 6,797,471 $ 0.46 At July 31, 2020, $391,508 $95,261 $296,247 July 31, 2020, $2,500,153 1.31 A summary of stock options outstanding and exercisable at July 31, 2020 Options Outstanding Options Exercisable Range of Exercise Prices Outstanding at July 31, 2020 Weighted Average Exercise Price Weighted Average Remaining Contractual Term (Years) Exercisable at Weighted Average Exercise Price Weighted Average Remaining Contractual Term (Years) $0.80 to $0.99 8,169,500 $ 0.92 7.64 2,843,279 $ 0.94 4.03 $1.00 to $1.49 5,005,000 1.19 3.81 3,533,750 1.22 1.47 $1.50 to $3.28 2,340,250 1.75 2.59 2,340,250 1.75 2.59 15,514,750 $ 1.13 5.64 8,717,279 $ 1.27 2.61 Restricted Stock Units During Fiscal 2020, 1,305,000 $0.91 three one first one third one second third During Fiscal 2019, 465,000 $0.9421 three one third second third A summary of outstanding unvested RSUs at July 31, 2020 Grant Date Number of Restricted Stock Units Grant Date Fair Value Remaining Life (Years) Aggregate Intrinsic Value July 30, 2019 310,000 $ 0.94 2.00 $ 8,649 July 16, 2020 1,305,000 0.91 2.96 78,300 1,615,000 $ 0.92 2.77 $ 86,949 A continuity schedule of outstanding RSUs at July 31, 2020, Number of Restricted Stock Units Weighted Average Grant Date Fair Value Balance, July 31, 2018 - $ - Granted 465,000 0.94 Balance, July 31, 2019 465,000 0.94 Granted 1,305,000 0.91 Vested (155,000 ) 0.94 Balance, July 31, 2020 1,615,000 $ 0.92 During Fiscal 2020, $310,127 2019: $Nil; 2018: $Nil 2020, 155,000 105,844 49,156 July 31, 2020, 1,615,000 July 31, 2019: 465,000 $1,315,500, 1.48 Performance Based Restricted Stock Units During Fiscal 2019, 445,000 445,000 X three three 3 one one 1 three 25% may 0% 200% not one three no These PRSUs have a market condition considered in the determination of the fair value such that the ultimate number of PRSUs that vest will be determined by the Company's share performance relative to the Global X $1.15 Expected Risk Free Interest Rate 1.99% to 2.20% Expected Volatility 56.74% to 61.75% Expected Dividend Yield 0% Expected Life in Years 3 Correlation 57.10% On July 30, 2020, 90,001 X 90,001 During Fiscal 2020, $272,658 2019: $Nil; 2018: $Nil July 31, 2020, 333,750 July 31, 2019: 445,000 $239,352, 2.0 Stock - Based Compensation A summary of stock-based compensation expense for Fiscal 2020, 2019 2018 Year Ended July 31, 2020 2019 2018 Stock-Based Compensation for Consultants Common stock issued for consulting services $ 539,552 $ 644,307 $ 740,640 Amortization of stock option expenses 240,912 153,549 582,842 780,464 797,856 1,323,482 Stock-Based Compensation for Management Common stock issued to management 225,217 269,688 702,505 Amortization of stock option expenses 644,516 516,266 284,556 Amortization of RSU & PRSU expenses 582,785 - - 1,452,518 785,954 987,061 Stock-Based Compensation for Employees Common stock issued to employees 635,414 674,488 773,899 Amortization of stock option expenses 640,011 689,743 547,231 1,275,425 1,364,231 1,321,130 Settlement of share issuance obligation (15,189 ) - (127,615 ) $ 3,493,218 $ 2,948,041 $ 3,504,058 During Fiscal 2020, 188,914 $171,911 $187,100 2019 2018, 398,839 $510,527 $638,142 2017 |
Note 14 - Net Loss Per Share
Note 14 - Net Loss Per Share | 12 Months Ended |
Jul. 31, 2020 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | NOTE 1 4 : NET LOSS PER SHARE The following table reconciles the weighted average number of shares used in the computation of basic and diluted loss per share for Fiscal 2020, 2019 2018: Year Ended July 31, 2020 2019 2018 Numerator Net Loss for the Year $ (14,610,516 ) $ (17,152,789 ) $ (17,826,634 ) Denominator Basic Weighted Average Number of Shares 183,041,766 175,844,624 157,123,025 Dilutive Stock Options, RSUs, PRSUs and Warrants - - - Diluted Weighted Average Number of Shares 183,041,766 175,844,624 157,123,025 Net Loss per Share, Basic and Diluted $ (0.08 ) $ (0.10 ) $ (0.11 ) For Fiscal 2020, 2019 2018, 2020 2019, |
Note 15 - Income Taxes
Note 15 - Income Taxes | 12 Months Ended |
Jul. 31, 2020 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | NOTE 15: INCOME TAXES At July 31, 2020, $167.3 $5.1 may not 2023. July 31, 2020, $37.3 $3.4 163 Tax Cut and Job s Act December 22, 2017. may not not We review the valuation allowance requirements on an annual basis based on projected future operations. When circumstances change resulting in a change in management's judgement about the recoverability of deferred tax assets, the impact of the change on the valuation allowance will generally be reflected in current income. A reconciliation of income tax computed at the federal and state statutory tax rates including the Company's effective tax rate is as follows: Year Ended July 31, 2020 2019 2018 Federal income tax provision rate 21.00 % 21.00 % 26.87 % State income tax provision rate, net of federal income tax effect 0.72 % 0.52 % 0.59 % Total income tax provision rate 21.72 % 21.52 % 27.46 % The actual income tax provisions differ from the expected amounts calculated by applying the combined federal and state corporate income tax rates to our loss before income taxes. The components of these differences are as follows: Year Ended July 31, 2020 2019 2018 Loss before income taxes $ (14,616,067 ) $ (17,167,161 ) $ (18,534,145 ) Corporate tax rate 21.72 % 21.52 % 27.46 % Expected tax recovery (3,174,610 ) (3,694,373 ) (5,089,476 ) Increase (decrease) resulting from Foreign tax rate differences 85,796 90,391 167,162 Permanent differences 170,023 2,427,665 434,863 Prior year true-up (435,565 ) (160,019 ) (141,814 ) Foreign exchange rate differences 17,456 39,667 (41,014 ) Other 71,805 (94,291 ) 35,706 Recognition of deferred tax assets - - 430,121 Change in valuation allowance 3,233,427 1,373,462 4,156,768 Tax adjustment from operations (31,668 ) (17,498 ) (47,684 ) Re-measurement of deferred tax liability at 21% - - (232,843 ) Recognition of deferred tax assets to offset deferred tax liability - - (430,121 ) Unrealized loss, other comprehensive loss 26,117 3,126 3,137 Deferred tax benefits $ (5,551 ) $ (14,372 ) $ (707,511 ) We have incurred taxable losses for all years since inception and, accordingly, no 2020 2019, $5,551 $14,372, 2018, $707,511, $232,843 21% December 22, 2017, $430,121 2018 At July 31, 2020, not The components of income (loss) from operations before income taxes, by tax jurisdiction, are as follows: Year Ended July 31, 2020 2019 2018 United States $ (13,962,287 ) $ (16,560,132 ) $ (17,709,866 ) Canada 53,960 120,362 145,267 Paraguay (707,740 ) (727,391 ) (969,546 ) $ (14,616,067 ) $ (17,167,161 ) $ (18,534,145 ) The Company's deferred tax assets (liabilities) are as follows: July 31, 2020 July 31, 2019 Deferred tax assets (liabilities) Mineral properties $ 1,270,292 $ 1,256,327 Exploration costs 6,384,265 6,551,403 Stock option expense 4,594,159 4,570,905 Depreciable property (1,157,934 ) (937,614 ) Inventories (3,550,814 ) (3,343,361 ) Asset retirement obligations 62,626 20,561 Other 58,559 35,983 Section 163(j) interest expense carry forwards 733,343 384,109 Loss carry forwards 46,552,687 43,198,434 54,947,183 51,736,747 Valuation allowance (54,973,300 ) (51,739,873 ) Deferred tax assets (26,117 ) (3,126 ) Deferred tax assets, other comprehensive loss 26,117 3,126 Deferred tax liabilities Mineral properties (545,000 ) (550,551 ) Net deferred tax liabilities $ (545,000 ) $ (550,551 ) As the criteria for recognizing deferred income tax assets have not 100% The Company's U.S. net operating loss carry-forwards expire as follows: July 31, 2023 $ 180,892 July 31, 2024 228,757 July 31, 2025 507,833 July 31, 2026 5,895,221 July 31, 2027 3,892,722 Remaining balance 156,594,095 $ 167,299,520 For U.S. federal income tax purposes, a change in ownership under IRC Section 382 2018 382 The Company's Canadian net operating loss carry-forwards in Canadian dollars expire as follows: July 31, 2027 $ 183,105 July 31, 2028 629,788 July 31, 2029 769,072 July 31, 2030 764,230 July 31, 2031 1,747,548 Remaining balance 958,124 $ 5,051,867 |
Note 16 - Fair Value Measuremen
Note 16 - Fair Value Measurement | 12 Months Ended |
Jul. 31, 2020 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | NOTE 16: FAIR VALUE MEASUREMENT Fair value accounting establishes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 3 three ● Level 1 ● Level 2 not ● Level 3 no The financial instruments, including cash and cash equivalents, term deposits, accounts payable and accrued liabilities and due to related party amounts, are carried at cost, which approximate their fair values due to the immediate or short-term maturity. Restricted cash are primarily investments in money market funds at major financial institutions and their fair values approximate their carrying values. Government loan payable is carried at amortized cost which approximates its fair value. Long-term debt is carried at amortized costs which approximates its fair value. |
Note 17 - Segmented Information
Note 17 - Segmented Information | 12 Months Ended |
Jul. 31, 2020 | |
Notes to Financial Statements | |
Segment Reporting Disclosure [Text Block] | NOTE 1 7 : SEGMENTED INFORMATION We currently operate in a single At July 31, 2020, $57,786,932 68% $84,799,738. The table below provides a breakdown of the Company's long-term assets by geographic segment: July 31, 2020 Balance Sheet Items United States Texas Arizona Wyoming Other States Canada Paraguay Total Mineral Rights and Properties $ 12,422,661 $ 4,527,477 $ 31,527,870 $ 116,971 $ 546,938 $ 14,513,586 $ 63,655,503 Property, Plant and Equipment 6,299,786 - 327,639 - 29,677 362,715 7,019,817 Restricted Cash 1,750,243 15,000 73,973 - - - 1,839,216 Equity-Accounted Investment - - - - 11,515,327 - 11,515,327 Other Non-Current Assets 703,312 - 22,000 - 44,563 - 769,875 Total Long-Term Assets $ 21,176,002 $ 4,542,477 $ 31,951,482 $ 116,971 $ 12,136,505 $ 14,876,301 $ 84,799,738 July 31, 2019 Balance Sheet Items United States Texas Arizona Wyoming Other States Canada Paraguay Total Mineral Rights and Properties $ 12,433,203 $ 4,427,477 $ 31,527,870 $ 87,822 $ 546,938 $ 14,513,585 $ 63,536,895 Property, Plant and Equipment 6,333,950 - 342,515 - 14,223 351,671 7,042,359 Restricted Cash 1,732,419 15,000 73,973 - - - 1,821,392 Equity-Accounted Investment - - - - 8,680,449 - 8,680,449 Other Non-Current Assets 221,214 - 28,000 - - - 249,214 Total Long-Term Assets $ 20,720,786 $ 4,442,477 $ 31,972,358 $ 87,822 $ 9,241,610 $ 14,865,256 $ 81,330,309 The table below provides a breakdown of our operating results by geographic segment. All intercompany transactions have been eliminated. Year ended July 31, 2020 Statement of Operations United States Texas Arizona Wyoming Other States Canada Paraguay Total Costs and Expenses: Mineral property expenditures $ 3,165,898 $ 104,191 $ 596,551 $ 69,523 $ - $ 646,240 $ 4,582,403 General and administrative 6,982,684 13,717 112,193 2,277 2,272,138 58,889 9,441,898 Depreciation, amortization and accretion 273,687 - 14,876 850 11,959 8,850 310,222 Loss from operations (10,422,269 ) (117,908 ) (723,620 ) (72,650 ) (2,284,097 ) (713,979 ) (14,334,523 ) Other income (expenses) (3,417,783 ) (18,965 ) 2,095 - 3,147,724 5,385 (281,544 ) Loss before income taxes $ (13,840,052 ) $ (136,873 ) $ (721,525 ) $ (72,650 ) $ 863,627 $ (708,594 ) $ (14,616,067 ) Year ended July 31, 2019 Statement of Operations United States Texas Arizona Wyoming Other States Canada Paraguay Total Costs and Expenses: Mineral property expenditures $ 3,072,855 $ 112,724 $ 655,807 $ 69,910 $ 16,078 $ 560,163 $ 4,487,537 General and administrative 6,619,855 14,040 147,648 3,557 3,165,883 191,052 10,142,035 Depreciation, amortization and accretion 314,599 - 14,876 996 11,666 5,304 347,441 Loss from operations (10,007,309 ) (126,764 ) (818,331 ) (74,463 ) (3,193,627 ) (756,519 ) (14,977,013 ) Other income (expenses) (3,337,331 ) (18,914 ) 2,284 1,578,864 (432,598 ) 17,547 (2,190,148 ) Loss before income taxes $ (13,344,640 ) $ (145,678 ) $ (816,047 ) $ 1,504,401 $ (3,626,225 ) $ (738,972 ) $ (17,167,161 ) Year ended July 31, 2018 Statement of Operations United States Texas Arizona Wyoming Other States Canada Paraguay Total Costs and Expenses: Mineral property expenditures $ 2,381,993 $ 100,296 $ 1,282,164 $ 67,550 $ - $ 720,148 $ 4,552,151 General and administrative 7,055,370 13,877 581,277 10,931 3,467,934 277,817 11,407,206 Depreciation, amortization and accretion 325,567 - 12,847 996 11,599 3,615 354,624 Loss from operations (9,762,930 ) (114,173 ) (1,876,288 ) (79,477 ) (3,479,533 ) (1,001,580 ) (16,313,981 ) Other income (expenses) (2,630,691 ) (18,914 ) 1,541 - 423,657 4,243 (2,220,164 ) Loss before income taxes $ (12,393,621 ) $ (133,087 ) $ (1,874,747 ) $ (79,477 ) $ (3,055,876 ) $ (997,337 ) $ (18,534,145 ) |
Note 18 - Supplemental Cash Flo
Note 18 - Supplemental Cash Flow Information | 12 Months Ended |
Jul. 31, 2020 | |
Notes to Financial Statements | |
Cash Flow, Supplemental Disclosures [Text Block] | NOTE 1 8 : SUPPLEMENTAL CASH FLOW INFORMATION During Fiscal 2020, $1,626,667 2019: $1,622,222; 2018; $1,622,222 2020, $116,279 2019: $113,117; 2018: $118,944 During Fiscal 2018, 14,634,748 $909,930 353,160 $483,829 217,702 $283,013 During Fiscal 2018, 1,625,531 $2,617,105 $2,940,000 65,684 $105,751 During Fiscal 2018, 164,767 $232,321 $239,120 |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 12 Months Ended |
Jul. 31, 2020 | |
Accounting Policies [Abstract] | |
Basis of Accounting, Policy [Policy Text Block] | Basis of Presentation and Principles of Consolidation These consolidated financial statements have been prepared in accordance with United States generally accepted accounting principles (“U.S. GAAP”) and are presented in United States dollars. All inter-company transactions and balances have been eliminated upon consolidation. |
Exploratory Drilling Costs Capitalization and Impairment, Policy [Policy Text Block] | Exploration Stage We have established the existence of mineralized materials for certain uranium projects, including the Palangana Mine. We have not 7, no November 2010, 7 Since we commenced extraction of mineralized materials at the Palangana Mine without having established proven or probable reserves, any mineralized materials established or extracted from the Palangana Mine should not In accordance with U.S. GAAP, expenditures relating to the acquisition of mineral rights are initially capitalized as incurred while exploration and pre-extraction expenditures are expensed as incurred until such time we exit the Exploration Stage by establishing proven or probable reserves. Expenditures relating to exploration activities, such as drill programs to establish mineralized materials, are expensed as incurred. Expenditures relating to pre-extraction activities such as the construction of mine wellfields, ion exchange facilities and disposal wells, are expensed as incurred until such time proven or probable reserves are established for that project, after which expenditures relating to mine development activities for that particular project are capitalized as incurred. Companies in the Production Stage as defined under Industry Guide 7, no may not |
Use of Estimates, Policy [Policy Text Block] | Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amount of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported revenues and expenses during the reported periods. Significant areas requiring management's estimates and assumptions include valuation and measurement of impairment losses on mineral rights and properties, valuation of stock-based compensation and asset retirement obligations. Other areas requiring estimates include allocations of expenditures to inventories, depletion and amortization of mineral rights and properties and depreciation of property, plant and equipment. Actual results could differ significantly from those estimates and assumptions. |
Foreign Currency Transactions and Translations Policy [Policy Text Block] | Foreign Currency Translation The functional currency of our Company, including its subsidiaries, is the United States dollar. Our subsidiaries, UEC Resources Ltd., UEC Resources (SK) Ltd. and Cue Resources Ltd., maintain their accounting records in their local currency, the Canadian dollar. Piedra Rica Mining S.A., Transandes Paraguay S.A., MYNM, Trier S.A. and other Paraguayan subsidiaries maintain their accounting records in their local currency, the Paraguayan Guarani. In accordance with ASC 830: |
Cash and Cash Equivalents, Policy [Policy Text Block] | Cash and Cash Equivalents Cash and cash equivalents consist of cash balances and term deposits with an original maturity of three |
Term Deposits, Policy [Policy Text Block] | Term Deposits Term deposits include short-term deposits held with banks with maturities from three one |
Equity Method Investments [Policy Text Block] | Equity-Accounted Investments Investments in an entity in which our ownership is greater than 20% 50%, 323: |
Other Non-current Asset, Policy [Policy Text Block] | Other Non-Current Assets Other non-current assets include future expenditures that we have paid in advance but will not one not |
Mineral Rights,Policy [PolicyTextBlock] | Mineral Rights Acquisition costs of mineral rights are initially capitalized as incurred while exploration and pre-extraction expenditures are expensed as incurred until such time proven or probable reserves, as defined by the SEC under Industry Guide 7, Where proven and probable reserves have been established, in accordance with Industry Guide 7, not not |
Databases [Policy Text Block] | Databases Expenditures relating to mineral property databases are capitalized upon acquisition while those developed internally are expensed as incurred. Mineral property databases are amortized using the straight-line method over a five |
Property, Plant and Equipment, Policy [Policy Text Block] | Property, Plant and Equipment Property, plant and equipment are recorded at cost and depreciated to their estimated residual values using the straight-line method over their estimated useful lives, as follows: ● Hobson processing facility: 20 ● Mining and logging equipment and vehicles: 5 10 ● Computer equipment: 3 ● Furniture and fixtures: 5 ● Building: 20 |
Impairment or Disposal of Long-Lived Assets, Including Intangible Assets, Policy [Policy Text Block] | Impairment of Long-Lived Assets Long-lived assets are reviewed for impairment whenever events or changes in circumstances indicate the carrying amount of an asset may not not not |
Income Tax, Policy [Policy Text Block] | Income Taxes We account for income taxes under the asset and liability method which requires the recognition of deferred income tax assets and liabilities for the expected future tax consequences of temporary differences between the carrying amounts and tax bases of assets and liabilities. We provide a valuation allowance on deferred tax assets unless it is more likely than not |
Asset Retirement Obligation [Policy Text Block] | Restoration and Remediation Costs (Asset Retirement Obligations) Various federal and state mining laws and regulations require our Company to reclaim the surface areas and restore underground water quality to the pre-existing quality or class of use after the completion of mining. We recognize the present value of the future restoration and remediation costs as an asset retirement obligation in the period in which we incur an obligation associated with the retirement of tangible long-lived assets that result from the acquisition, construction, development and/or normal use of the assets. Asset retirement obligations consist of estimated final well closure, plant and equipment decommissioning and removal and environmental remediation costs to be incurred by our Company in the future. The asset retirement obligation is estimated based on the current costs escalated at an inflation rate and discounted at a credit adjusted risk-free rate. The asset retirement obligations are capitalized as part of the costs of the underlying assets and amortized over its remaining useful life. The asset retirement obligations are accreted to an undiscounted value until they are settled. The accretion expenses are charged to earnings and the actual retirement costs are recorded against the asset retirement obligations when incurred. Any difference between the recorded asset retirement obligations and the actual retirement costs incurred will be recorded as a gain or loss in the period of settlement. |
Debt, Policy [Policy Text Block] | Long- T erm Debt Long-Term Debt is carried at amortized cost. Debt issuance costs, debt premiums and discounts and annual fees are included in the long-term debt balance and amortized using the effective interest rate over the contractual terms of the Long-Term Debt. |
Lessee, Leases [Policy Text Block] | Leases We determine if a contractual arrangement represents or contains a lease at inception. Operating leases with lease terms greater than 12 Operating and finance lease ROU assets and lease liabilities are recognized based on the present value of the future lease payments over the lease term at the commencement date. When the rate implicit to the lease cannot be readily determined, we utilize the incremental borrowing rate in determining the present value of the future lease payments. The incremental borrowing rate is the rate of interest our Company would have to pay to borrow on a collateralized basis over a similar term and the amount equal to the lease payments in a similar economic environment. The operating lease expenses are recognized on a straight-line basis over the lease term and included in general and administration expenses. Short-term leases, which have an initial term of 12 not We have leases arrangements that include both lease and non-lease components. We account for each separate lease component and its associated non-lease components as a single lease component for all of our asset classes. |
Share-based Payment Arrangement [Policy Text Block] | Stock-Based Compensation We measure stock-based awards at fair value on the date of the grant and expense the awards in our Consolidated Statements of Operations and Comprehensive Loss over the requisite service period of employees or consultants. The fair value of stock options is determined using the Black-Scholes valuation model. The fair value of restricted stock units (“RSU”s) is determined using the share price of the Company at the date of grant. The fair value of performance based restricted stock units (“PRSU”s) is determined using the Monte Carlo simulation model. Stock-based compensation expense related to stock option awards is recognized over the requisite service period on an accelerating basis. Forfeitures are accounted for as they occur. The Company's estimates may not |
Earnings Per Share, Policy [Policy Text Block] | Earnings (Loss) P er Common Share Basic earnings or loss per share includes no |
New Accounting Pronouncements, Policy [Policy Text Block] | Recent ly Adopted Accounting Standards In February 2016 2016 02, “842” Effective August 1, 2019, not We elected the following optional practical expedients: ● we elected the short-term lease recognition exemption whereby ROU assets and lease liabilities will not one ● we elected the land easements practical expedient whereby existing land easements are not ● we elected hindsight practical expedient when determining lease term; and ● we elected the practical expedient not Based on contracts outstanding at August 1, 2019, $876,590, $92,235 $784,355. not 12: |
Note 3 - Mineral Rights and P_2
Note 3 - Mineral Rights and Properties (Tables) | 12 Months Ended |
Jul. 31, 2020 | |
Notes Tables | |
Schedule Of Mineral Rights and Property Acquisition Costs [Table Text Block] | July 31, 2020 July 31, 2019 Mineral Rights and Properties Palangana Mine $ 6,027,784 $ 6,027,784 Goliad Project 8,689,127 8,689,127 Burke Hollow Project 1,495,750 1,495,750 Longhorn Project 116,870 116,870 Salvo Project 14,905 14,905 Anderson Project 3,470,373 3,470,373 Workman Creek Project 799,854 699,854 Los Cuatros Project 257,250 257,250 Slick Rock Project 30,000 - Reno Creek Project 31,527,870 31,527,870 Diabase Project 546,938 546,938 Yuty Project 11,947,144 11,947,144 Oviedo Project 1,133,412 1,133,412 Alto Paraná Titanium Project 1,433,030 1,433,030 Other Property Acquisitions 91,080 91,080 67,581,387 67,451,387 Accumulated Depletion (3,929,884 ) (3,929,884 ) 63,651,503 63,521,503 Databases 2,410,038 2,410,038 Accumulated Amortization (2,410,038 ) (2,409,188 ) - 850 Land Use Agreements 48,770 404,310 Accumulated Amortization (44,770 ) (389,768 ) 4,000 14,542 $ 63,655,503 $ 63,536,895 |
Schedule Of Mineral Rights and Property, Fair Value of Consideration Shares [Table Text Block] | Fair value of Consideration Shares $ 9,077,842 Transaction costs 55,787 Net consideration $ 9,022,055 |
Schedule Of Mineral Rights and Properties Net Consideration Allocation [Table Text Block] | Net consideration allocation to: Allocation % Net Consideration Allocation Anderson Project 63 % $ 5,683,895 Workman Creek Project 12 % 1,082,646 Slick Rock Project 25 % 2,255,514 100 % $ 9,022,055 |
Schedule Of Mineral Property Expenditures Incurred by Major Projects [Table Text Block] | Year Ended July 31, 2020 2019 2018 Mineral Property Expenditures Palangana Mine $ 1,342,927 $ 1,027,139 $ 1,047,635 Goliad Project 190,278 96,789 105,264 Burke Hollow Project 1,130,467 1,616,601 675,605 Longhorn Project 17,023 45,848 14,401 Salvo Project 28,318 35,923 36,056 Anderson Project 71,170 81,414 68,167 Workman Creek Project 32,700 30,709 31,300 Slick Rock Project 52,521 53,843 52,218 Reno Creek Project 596,551 655,807 1,278,959 Yuty Project 65,679 102,882 425,298 Oviedo Project 350,211 288,324 119,082 Alto Paraná Titanium Project 230,350 168,956 175,768 Other Mineral Property Expenditures 474,208 557,497 522,398 Revaluation of Asset Retirement Obligations - (274,195 ) - $ 4,582,403 $ 4,487,537 $ 4,552,151 |
Note 4 - Property, Plant and _2
Note 4 - Property, Plant and Equipment (Tables) | 12 Months Ended |
Jul. 31, 2020 | |
Notes Tables | |
Property, Plant and Equipment [Table Text Block] | July 31, 2020 July 31, 2019 Cost Accumulated Net Book Cost Accumulated Net Book Hobson Processing Facility $ 6,642,835 $ (773,933 ) $ 5,868,902 $ 6,642,835 $ (773,933 ) $ 5,868,902 Mining Equipment 2,393,579 (2,342,518 ) 51,061 2,467,557 (2,402,681 ) 64,876 Logging Equipment and Vehicles 1,924,969 (1,736,806 ) 188,163 1,950,229 (1,730,905 ) 219,324 Computer Equipment 550,243 (486,467 ) 63,776 572,551 (546,652 ) 25,899 Furniture and Fixtures 170,701 (169,946 ) 755 170,701 (169,379 ) 1,322 Land and Buildings 889,606 (42,446 ) 847,160 889,606 (27,570 ) 862,036 $ 12,571,933 $ (5,552,116 ) $ 7,019,817 $ 12,693,479 $ (5,651,120 ) $ 7,042,359 |
Note 5 - Restricted Cash (Table
Note 5 - Restricted Cash (Tables) | 12 Months Ended |
Jul. 31, 2020 | |
Notes Tables | |
Restrictions on Cash and Cash Equivalents [Table Text Block] | July 31, 2020 July 31, 2019 Restricted cash, beginning of period $ 1,821,392 $ 1,789,899 Interest received 17,824 31,493 Restricted cash, end of period $ 1,839,216 $ 1,821,392 |
Schedule of Cash and Cash Equivalents and Restricted Cash [Table Text Block] | July 31, 2020 July 31, 2019 Cash and cash equivalents $ 5,147,703 $ 6,058,186 Restricted cash 1,839,216 1,821,392 Total cash, cash equivalents and restricted cash $ 6,986,919 $ 7,879,578 |
Note 6 - Equity-accounted Inv_2
Note 6 - Equity-accounted Investment (Tables) | 12 Months Ended |
Jul. 31, 2020 | |
Notes Tables | |
Equity Method Investments [Table Text Block] | Balance, July 31, 2017 $ 151,676 Share of income from URC 29,001 Gain on ownership interest dilution 394,656 Share of other comprehensive income 118,169 Balance, July 31, 2018 693,502 Share consideration received from sale of royalty interests 9,077,842 Share of loss from URC (1,858,901 ) Gain on ownership interest dilution 755,545 Translation gain 12,461 Balance, July 31, 2019 8,680,449 Share of loss from URC (89,073 ) Gain on ownership interest dilution 3,056,656 Translation loss (132,705 ) Balance, July 31, 2020 $ 11,515,327 |
Note 9 - Long-term Debt (Tables
Note 9 - Long-term Debt (Tables) | 12 Months Ended |
Jul. 31, 2020 | |
Notes Tables | |
Schedule of Long-term Debt Instruments [Table Text Block] | July 31, 2020 July 31, 2019 Principal amount $ 20,000,000 $ 20,000,000 Unamortized discount and accrued fees (130,523 ) (400,037 ) Long-term debt, net of unamortized discount $ 19,869,477 $ 19,599,963 |
Schedule of Maturities of Long-term Debt [Table Text Block] | Fiscal 2021 $ - Fiscal 2022 20,000,000 Total $ 20,000,000 |
Note 11 - Asset Retirement Ob_2
Note 11 - Asset Retirement Obligations (Tables) | 12 Months Ended |
Jul. 31, 2020 | |
Notes Tables | |
Schedule of Change in Asset Retirement Obligation [Table Text Block] | Balance, July 31, 2019 $ 3,541,082 Accretion 193,232 Balance, July 31, 2020 $ 3,734,314 |
Schedule Of Estimated Cash flow and Assumption Used For ARO [Table Text Block] | July 31, 2020 July 31, 2019 Undiscounted amount of estimated cash flows $ 8,221,018 $ 8,221,018 Payable in years 9 to 21 9 to 21 Inflation rate 1.56% to 2.17% 1.56% to 2.17% Discount rate 5.50% to 5.96% 5.50% to 5.96% |
Schedule Of Undiscounted Amounts Of Estimated Cash Flows [Table Text Block] | Fiscal 2021 $ - Fiscal 2022 - Fiscal 2023 - Fiscal 2024 - Fiscal 2025 - Remaining balance 8,221,018 $ 8,221,018 |
Note 12 - Lease Liabilities (Ta
Note 12 - Lease Liabilities (Tables) | 12 Months Ended |
Jul. 31, 2020 | |
Notes Tables | |
Lease, Cost [Table Text Block] | Year Ended July 31, 2020 Operating leases $ 229,706 Short-term leases 445,287 Total Lease Expenses $ 674,993 |
Lessee, Operating Lease, Liability, Maturity [Table Text Block] | Fiscal 2021 $ 161,747 Fiscal 2022 220,000 Fiscal 2023 20,000 Fiscal 2024 20,000 Fiscal 2025 20,000 Thereafter 300,000 Total lease payments 741,747 Less: imputed interest (164,474 ) Present value of lease liabilities $ 577,273 Currrent portion of lease liabilities $ 139,069 Non-curent portion of lease liabilities $ 438,204 |
Note 13 - Capital Stock (Tables
Note 13 - Capital Stock (Tables) | 12 Months Ended |
Jul. 31, 2020 | |
Notes Tables | |
Schedule of Warrants, Valuation Assumptions [Table Text Block] | Expected Risk Free Interest Rate 2.90 % Expected Annual Volatility 63.30 % Expected Contractual Life in Years 2.50 Expected Annual Dividend Yield 0.00 % |
Schedule of Net Proceeds Allocation [Table Text Block] | Fair Value of Shares $ 19,424,095 Fair Value of Share Purchase Warrants 3,094,693 Total Fair Value Before Allocation to Net Proceeds $ 22,518,788 Gross Proceeds $ 20,180,878 Share Issuance Costs - Cash (1,211,667 ) Net Cash Proceeds Received $ 18,969,211 Relative Fair Value Allocation to: Shares $ 16,362,327 Share Purchase Warrants 2,606,884 $ 18,969,211 |
Schedule Of Share based Compensation Warrants Activity [Table Text Block] | Number of Weighted Average Balance, July 31, 2017 19,676,560 $ 1.78 Issued 11,358,728 2.30 Exercised (61,799 ) 1.20 Expired (50,000 ) 1.95 Balance, July 31, 2018 30,923,489 1.97 Issued 7,063,253 2.05 Exercised (3,999,881 ) 1.21 Expired (3,542,951 ) 2.13 Exchanged for shares pursuant to Securities Exchange Agreement (11,000,000 ) 2.30 Balance, July 31, 2019 19,443,910 1.94 Issued 300,000 1.38 Expired (12,021,929 ) 1.87 Balance, July 31, 2020 7,721,981 $ 2.03 |
Schedule of Stockholders' Equity Note, Warrants or Rights [Table Text Block] | Weighted Average Number of Warrants Weighted Average Remaining Contractual Expiry Date $ 1.25 150,000 0.40 December 23, 2020 1.50 150,000 0.40 December 23, 2020 2.05 7,063,253 0.67 April 3, 2021 2.30 308,728 2.02 August 9, 2022 1.64 50,000 2.80 May 21, 2023 $ 2.03 7,721,981 0.73 |
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | Year Ended July 31, 2020 2019 2018 Expected Risk Free Interest Rate 0.40 % 1.86 % 2.24 % Expected Volatility 60.48 % 65.62 % 67.60 % Expected Life in Years 4.9 4.9 3.1 Expected Dividend Yield 0 % 0 % 0 % Weighted-Average Grant Date Fair Value $ 0.45 $ 0.53 $ 0.68 |
Share-based Payment Arrangement, Option, Activity [Table Text Block] | Number of Stock Options Weighted Average Exercise Price Balance, July 31, 2017 12,260,500 $ 1.33 Granted 4,083,000 1.40 Exercised (1,365,625 ) 0.70 Forfeited (66,250 ) 1.24 Balance, July 31, 2018 14,911,625 1.41 Granted 2,006,350 0.97 Exercised (259,625 ) 1.12 Cancelled/Forfeited (910,000 ) 2.41 Expired (10,000 ) 1.50 Balance, July 31, 2019 15,738,350 1.30 Granted 6,163,900 0.95 Cancelled/Forfeited (179,344 ) 1.02 Expired (6,208,156 ) 1.39 Balance, July 31, 2020 15,514,750 $ 1.13 |
Cash Proceeds Received and Tax Benefit from Share-based Payment Awards [Table Text Block] | Year Ended July 31, 2020 2019 2018 Number of Shares Issued Upon Exercise of Options - 125,879 1,094,589 Number of Options Exercised on Forfeiture Basis - 193,375 580,625 Number of Net Shares Issued - 59,629 309,589 Number of Options Exercised on Cash Basis - 66,250 785,000 Cash Received from Exercise of Stock Options $ - $ 72,363 $ 530,050 Total Intrinsic Value of Options Exercised $ - $ 134,174 $ 1,049,694 |
Disclosure of Share-based Compensation Arrangements by Share-based Payment Award [Table Text Block] | Number of Unvested Stock Options Weighted Average Grant-Date Fair Value Balance, July 31, 2017 765,750 $ 0.58 Granted 4,083,000 0.68 Vested (1,303,000 ) 0.65 Forfeited (66,250 ) 0.62 Balance, July 31, 2018 3,479,500 0.68 Granted 2,006,350 0.53 Vested (2,055,250 ) 0.68 Forfeited (120,000 ) 0.67 Balance, July 31, 2019 3,310,600 0.59 Granted 6,163,900 0.45 Vested (2,590,154 ) 0.60 Cancelled/Forfeited (86,875 ) 0.43 Balance, July 31, 2020 6,797,471 $ 0.46 |
Share-based Payment Arrangement, Option, Exercise Price Range [Table Text Block] | Options Outstanding Options Exercisable Range of Exercise Prices Outstanding at July 31, 2020 Weighted Average Exercise Price Weighted Average Remaining Contractual Term (Years) Exercisable at Weighted Average Exercise Price Weighted Average Remaining Contractual Term (Years) $0.80 to $0.99 8,169,500 $ 0.92 7.64 2,843,279 $ 0.94 4.03 $1.00 to $1.49 5,005,000 1.19 3.81 3,533,750 1.22 1.47 $1.50 to $3.28 2,340,250 1.75 2.59 2,340,250 1.75 2.59 15,514,750 $ 1.13 5.64 8,717,279 $ 1.27 2.61 |
Schedule of Nonvested Restricted Stock Units Activity [Table Text Block] | Grant Date Number of Restricted Stock Units Grant Date Fair Value Remaining Life (Years) Aggregate Intrinsic Value July 30, 2019 310,000 $ 0.94 2.00 $ 8,649 July 16, 2020 1,305,000 0.91 2.96 78,300 1,615,000 $ 0.92 2.77 $ 86,949 |
Share-based Payment Arrangement, Restricted Stock Unit, Activity [Table Text Block] | Number of Restricted Stock Units Weighted Average Grant Date Fair Value Balance, July 31, 2018 - $ - Granted 465,000 0.94 Balance, July 31, 2019 465,000 0.94 Granted 1,305,000 0.91 Vested (155,000 ) 0.94 Balance, July 31, 2020 1,615,000 $ 0.92 |
Schedule of Performance Based Restricted Stock Units, Valuation Assumptions [Table Text Block] | Expected Risk Free Interest Rate 1.99% to 2.20% Expected Volatility 56.74% to 61.75% Expected Dividend Yield 0% Expected Life in Years 3 Correlation 57.10% |
Share-based Payment Arrangement, Cost by Plan [Table Text Block] | Year Ended July 31, 2020 2019 2018 Stock-Based Compensation for Consultants Common stock issued for consulting services $ 539,552 $ 644,307 $ 740,640 Amortization of stock option expenses 240,912 153,549 582,842 780,464 797,856 1,323,482 Stock-Based Compensation for Management Common stock issued to management 225,217 269,688 702,505 Amortization of stock option expenses 644,516 516,266 284,556 Amortization of RSU & PRSU expenses 582,785 - - 1,452,518 785,954 987,061 Stock-Based Compensation for Employees Common stock issued to employees 635,414 674,488 773,899 Amortization of stock option expenses 640,011 689,743 547,231 1,275,425 1,364,231 1,321,130 Settlement of share issuance obligation (15,189 ) - (127,615 ) $ 3,493,218 $ 2,948,041 $ 3,504,058 |
Note 14 - Net Loss Per Share (T
Note 14 - Net Loss Per Share (Tables) | 12 Months Ended |
Jul. 31, 2020 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Year Ended July 31, 2020 2019 2018 Numerator Net Loss for the Year $ (14,610,516 ) $ (17,152,789 ) $ (17,826,634 ) Denominator Basic Weighted Average Number of Shares 183,041,766 175,844,624 157,123,025 Dilutive Stock Options, RSUs, PRSUs and Warrants - - - Diluted Weighted Average Number of Shares 183,041,766 175,844,624 157,123,025 Net Loss per Share, Basic and Diluted $ (0.08 ) $ (0.10 ) $ (0.11 ) |
Note 15 - Income Taxes (Tables)
Note 15 - Income Taxes (Tables) | 12 Months Ended |
Jul. 31, 2020 | |
Notes Tables | |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | Year Ended July 31, 2020 2019 2018 Federal income tax provision rate 21.00 % 21.00 % 26.87 % State income tax provision rate, net of federal income tax effect 0.72 % 0.52 % 0.59 % Total income tax provision rate 21.72 % 21.52 % 27.46 % |
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | Year Ended July 31, 2020 2019 2018 Loss before income taxes $ (14,616,067 ) $ (17,167,161 ) $ (18,534,145 ) Corporate tax rate 21.72 % 21.52 % 27.46 % Expected tax recovery (3,174,610 ) (3,694,373 ) (5,089,476 ) Increase (decrease) resulting from Foreign tax rate differences 85,796 90,391 167,162 Permanent differences 170,023 2,427,665 434,863 Prior year true-up (435,565 ) (160,019 ) (141,814 ) Foreign exchange rate differences 17,456 39,667 (41,014 ) Other 71,805 (94,291 ) 35,706 Recognition of deferred tax assets - - 430,121 Change in valuation allowance 3,233,427 1,373,462 4,156,768 Tax adjustment from operations (31,668 ) (17,498 ) (47,684 ) Re-measurement of deferred tax liability at 21% - - (232,843 ) Recognition of deferred tax assets to offset deferred tax liability - - (430,121 ) Unrealized loss, other comprehensive loss 26,117 3,126 3,137 Deferred tax benefits $ (5,551 ) $ (14,372 ) $ (707,511 ) |
Schedule of Income before Income Tax, Domestic and Foreign [Table Text Block] | Year Ended July 31, 2020 2019 2018 United States $ (13,962,287 ) $ (16,560,132 ) $ (17,709,866 ) Canada 53,960 120,362 145,267 Paraguay (707,740 ) (727,391 ) (969,546 ) $ (14,616,067 ) $ (17,167,161 ) $ (18,534,145 ) |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | July 31, 2020 July 31, 2019 Deferred tax assets (liabilities) Mineral properties $ 1,270,292 $ 1,256,327 Exploration costs 6,384,265 6,551,403 Stock option expense 4,594,159 4,570,905 Depreciable property (1,157,934 ) (937,614 ) Inventories (3,550,814 ) (3,343,361 ) Asset retirement obligations 62,626 20,561 Other 58,559 35,983 Section 163(j) interest expense carry forwards 733,343 384,109 Loss carry forwards 46,552,687 43,198,434 54,947,183 51,736,747 Valuation allowance (54,973,300 ) (51,739,873 ) Deferred tax assets (26,117 ) (3,126 ) Deferred tax assets, other comprehensive loss 26,117 3,126 Deferred tax liabilities Mineral properties (545,000 ) (550,551 ) Net deferred tax liabilities $ (545,000 ) $ (550,551 ) |
Summary of Operating Loss Carryforwards [Table Text Block] | July 31, 2023 $ 180,892 July 31, 2024 228,757 July 31, 2025 507,833 July 31, 2026 5,895,221 July 31, 2027 3,892,722 Remaining balance 156,594,095 $ 167,299,520 July 31, 2027 $ 183,105 July 31, 2028 629,788 July 31, 2029 769,072 July 31, 2030 764,230 July 31, 2031 1,747,548 Remaining balance 958,124 $ 5,051,867 |
Note 17 - Segmented Informati_2
Note 17 - Segmented Information (Tables) | 12 Months Ended |
Jul. 31, 2020 | |
Notes Tables | |
Long-lived Assets by Geographic Areas [Table Text Block] | July 31, 2020 Balance Sheet Items United States Texas Arizona Wyoming Other States Canada Paraguay Total Mineral Rights and Properties $ 12,422,661 $ 4,527,477 $ 31,527,870 $ 116,971 $ 546,938 $ 14,513,586 $ 63,655,503 Property, Plant and Equipment 6,299,786 - 327,639 - 29,677 362,715 7,019,817 Restricted Cash 1,750,243 15,000 73,973 - - - 1,839,216 Equity-Accounted Investment - - - - 11,515,327 - 11,515,327 Other Non-Current Assets 703,312 - 22,000 - 44,563 - 769,875 Total Long-Term Assets $ 21,176,002 $ 4,542,477 $ 31,951,482 $ 116,971 $ 12,136,505 $ 14,876,301 $ 84,799,738 July 31, 2019 Balance Sheet Items United States Texas Arizona Wyoming Other States Canada Paraguay Total Mineral Rights and Properties $ 12,433,203 $ 4,427,477 $ 31,527,870 $ 87,822 $ 546,938 $ 14,513,585 $ 63,536,895 Property, Plant and Equipment 6,333,950 - 342,515 - 14,223 351,671 7,042,359 Restricted Cash 1,732,419 15,000 73,973 - - - 1,821,392 Equity-Accounted Investment - - - - 8,680,449 - 8,680,449 Other Non-Current Assets 221,214 - 28,000 - - - 249,214 Total Long-Term Assets $ 20,720,786 $ 4,442,477 $ 31,972,358 $ 87,822 $ 9,241,610 $ 14,865,256 $ 81,330,309 |
Operating Results by Geographic Areas [Table Text Block] | Year ended July 31, 2020 Statement of Operations United States Texas Arizona Wyoming Other States Canada Paraguay Total Costs and Expenses: Mineral property expenditures $ 3,165,898 $ 104,191 $ 596,551 $ 69,523 $ - $ 646,240 $ 4,582,403 General and administrative 6,982,684 13,717 112,193 2,277 2,272,138 58,889 9,441,898 Depreciation, amortization and accretion 273,687 - 14,876 850 11,959 8,850 310,222 Loss from operations (10,422,269 ) (117,908 ) (723,620 ) (72,650 ) (2,284,097 ) (713,979 ) (14,334,523 ) Other income (expenses) (3,417,783 ) (18,965 ) 2,095 - 3,147,724 5,385 (281,544 ) Loss before income taxes $ (13,840,052 ) $ (136,873 ) $ (721,525 ) $ (72,650 ) $ 863,627 $ (708,594 ) $ (14,616,067 ) Year ended July 31, 2019 Statement of Operations United States Texas Arizona Wyoming Other States Canada Paraguay Total Costs and Expenses: Mineral property expenditures $ 3,072,855 $ 112,724 $ 655,807 $ 69,910 $ 16,078 $ 560,163 $ 4,487,537 General and administrative 6,619,855 14,040 147,648 3,557 3,165,883 191,052 10,142,035 Depreciation, amortization and accretion 314,599 - 14,876 996 11,666 5,304 347,441 Loss from operations (10,007,309 ) (126,764 ) (818,331 ) (74,463 ) (3,193,627 ) (756,519 ) (14,977,013 ) Other income (expenses) (3,337,331 ) (18,914 ) 2,284 1,578,864 (432,598 ) 17,547 (2,190,148 ) Loss before income taxes $ (13,344,640 ) $ (145,678 ) $ (816,047 ) $ 1,504,401 $ (3,626,225 ) $ (738,972 ) $ (17,167,161 ) Year ended July 31, 2018 Statement of Operations United States Texas Arizona Wyoming Other States Canada Paraguay Total Costs and Expenses: Mineral property expenditures $ 2,381,993 $ 100,296 $ 1,282,164 $ 67,550 $ - $ 720,148 $ 4,552,151 General and administrative 7,055,370 13,877 581,277 10,931 3,467,934 277,817 11,407,206 Depreciation, amortization and accretion 325,567 - 12,847 996 11,599 3,615 354,624 Loss from operations (9,762,930 ) (114,173 ) (1,876,288 ) (79,477 ) (3,479,533 ) (1,001,580 ) (16,313,981 ) Other income (expenses) (2,630,691 ) (18,914 ) 1,541 - 423,657 4,243 (2,220,164 ) Loss before income taxes $ (12,393,621 ) $ (133,087 ) $ (1,874,747 ) $ (79,477 ) $ (3,055,876 ) $ (997,337 ) $ (18,534,145 ) |
Note 1 - Nature of Operations (
Note 1 - Nature of Operations (Details Textual) - USD ($) | 2 Months Ended | ||
Sep. 30, 2020 | Jul. 31, 2020 | Jul. 31, 2019 | |
Working Capital | $ 4,600,000 | ||
Cash and Cash Equivalents, at Carrying Value, Ending Balance | $ 5,147,703 | $ 6,058,186 | |
Shares Issued, Price Per Share (in dollars per share) | $ 1.33 | ||
September 2020 Offering [Member] | Subsequent Event [Member] | |||
Number of Units Issued During Period (in shares) | 12,500,000 | ||
Shares Issued, Price Per Share (in dollars per share) | $ 1.20 | ||
Proceeds from Issuance or Sale of Equity, Total | $ 15,000,000 |
Note 2 - Summary of Significa_2
Note 2 - Summary of Significant Accounting Policies (Details Textual) - USD ($) | 12 Months Ended | |
Jul. 31, 2020 | Aug. 01, 2019 | |
Accounting Standards Update 2016-02 [Member] | ||
Operating Lease, Right-of-Use Asset | $ 876,590 | |
Operating Lease, Liability, Total | 784,355 | |
Accounting Standards Update 2016-02 [Member] | Prepaid Expenses and Other Current Assets [Member] | ||
Operating Lease, Right-of-Use Asset | $ (92,235) | |
Mineral Rights, Databases [Member] | ||
Mineral Property, Useful Life (Year) | 5 years | |
Hobson Processing Facility [Member] | ||
Property, Plant and Equipment, Useful Life (Year) | 20 years | |
Mining and logging equipment and vehicles [Member] | Minimum [Member] | ||
Property, Plant and Equipment, Useful Life (Year) | 5 years | |
Mining and logging equipment and vehicles [Member] | Maximum [Member] | ||
Property, Plant and Equipment, Useful Life (Year) | 10 years | |
Computer Equipment [Member] | ||
Property, Plant and Equipment, Useful Life (Year) | 3 years | |
Furniture and Fixtures [Member] | ||
Property, Plant and Equipment, Useful Life (Year) | 5 years | |
Building [Member] | ||
Property, Plant and Equipment, Useful Life (Year) | 20 years |
Note 3 - Mineral Rights and P_3
Note 3 - Mineral Rights and Properties (Details Textual) | Dec. 04, 2018USD ($)shares | Jul. 31, 2020USD ($)a | Jul. 31, 2019USD ($)ashares | Jul. 31, 2018USD ($) | Jul. 31, 2017USD ($) | Jul. 31, 2016USD ($) |
Annual Property Maintenance Fees | $ 1,506,000 | |||||
Consideration Shares, Fair Value, Net | $ 9,022,055 | |||||
Gain (Loss) on Disposition of Assets, Total | 2,343 | 1,595,513 | $ (1,696) | |||
Revaluation Of Asset Retirement Obligations | 274,195 | |||||
Mineral Properties, Gross | 67,581,387 | 67,451,387 | ||||
Anderson Project [Member] | ||||||
Increase (Decrease) in Carrying Value Due to Disposition of Asset | $ (5,683,895) | (5,683,895) | ||||
Consideration Shares, Fair Value, Net | $ 5,683,895 | |||||
Area of Land (Acre) | a | 8,268 | |||||
Interest on Mineral Properties | 100.00% | |||||
Mineral Properties, Gross | $ 3,470,373 | $ 3,470,373 | 9,154,268 | |||
Workman Creek Project [Member] | ||||||
Net Smelter Royalty, Percent | 3.00% | |||||
Increase (Decrease) In Carrying Amount Due To Allocation | (1,082,646) | (1,082,646) | ||||
Consideration Shares, Fair Value, Net | 1,082,646 | |||||
Area of Land (Acre) | a | 4,036 | |||||
Interest on Mineral Properties | 100.00% | |||||
Mineral Properties, Gross | $ 799,854 | 699,854 | ||||
Annual Advance Royalty Payment | $ 100,000 | $ 50,000 | $ 50,000 | |||
Right and Option to Acquire Net Smelter Royalty, Percent | 1.50% | |||||
Right and Option to Acquire Royalty, Amount | $ 1,000,000 | |||||
Additional Right and Option to Acquire Net Smelter Royalty Held by Certain Individuals, Percent | 0.50% | |||||
Amount of Royalty Interest Acquired | $ 333,340 | |||||
Payments for Advance Royalties | $ 100,000 | 125,000 | ||||
Slick Rock Project [Member] | ||||||
Increase (Decrease) In Carrying Amount Due To Allocation | (676,650) | |||||
Consideration Shares, Fair Value, Net | $ 2,255,514 | 2,255,514 | ||||
Gain (Loss) on Disposition of Assets, Total | 1,578,864 | |||||
Area of Land (Acre) | a | 5,333 | |||||
Interest on Mineral Properties | 100.00% | |||||
Mineral Properties, Gross | $ 30,000 | |||||
Payments for Advance Royalties | $ 30,000 | 30,000 | ||||
Increase (Decrease) in Consideration of Interest | (676,650) | |||||
Slick Rock Project [Member] | Minimum [Member] | ||||||
Net Smelter Royalty, Percent | 1.00% | |||||
Slick Rock Project [Member] | Maximum [Member] | ||||||
Net Smelter Royalty, Percent | 3.00% | |||||
Palangana Mine [Member] | ||||||
Area of Land (Acre) | a | 6,987 | |||||
Mining Lease and Surface Use Agreements Realted to Royalty, Term (Year) | 5 years | |||||
Increase (Decrease) in Corresponding Rights and Properties | (258,114) | |||||
Revaluation Of Asset Retirement Obligations | 274,195 | |||||
Depletion, Total | $ 0 | 0 | $ 0 | |||
Mineral Properties, Gross | $ 6,027,784 | 6,027,784 | ||||
Goliad Project [Member] | ||||||
Area of Land (Acre) | a | 995 | |||||
Mineral Leases and Surface Use Agreements, Term (Year) | 5 years | |||||
Mineral Properties, Gross | $ 8,689,127 | 8,689,127 | ||||
Burke Hollow Project [Member] | ||||||
Area of Land (Acre) | a | 19,335 | |||||
Mineral Leases and Surface Use Agreements, Term (Year) | 5 years | |||||
Mineral Properties, Gross | $ 1,495,750 | 1,495,750 | ||||
Longhorn Project [Member] | ||||||
Area of Land (Acre) | a | 651 | |||||
Mineral Leases and Surface Use Agreements, Term (Year) | 5 years | |||||
Mineral Properties, Gross | $ 116,870 | 116,870 | ||||
Salvo Project [Member] | ||||||
Area of Land (Acre) | a | 1,340 | |||||
Mineral Leases and Surface Use Agreements, Term (Year) | 5 years | |||||
Mineral Properties, Gross | $ 14,905 | 14,905 | ||||
Los Cuatros Project [Member] | ||||||
Area of Land (Acre) | a | 640 | |||||
Interest on Mineral Properties | 100.00% | |||||
Mineral Properties, Gross | $ 257,250 | 257,250 | ||||
Reno Creek Project [Member] | ||||||
Area of Land (Acre) | a | 18,763 | |||||
Mineral Properties, Gross | $ 31,527,870 | 31,527,870 | ||||
Reno Creek Project [Member] | Minimum [Member] | ||||||
Mineral Leases and Surface Use Agreements, Term (Year) | 5 years | |||||
Reno Creek Project [Member] | Maximum [Member] | ||||||
Mineral Leases and Surface Use Agreements, Term (Year) | 20 years | |||||
Diabase Project [Member] | ||||||
Area of Land (Acre) | a | 54,236 | |||||
Interest on Mineral Properties | 100.00% | |||||
Mineral Properties, Gross | $ 546,938 | 546,938 | ||||
Yuty Project [Member] | ||||||
Area of Land (Acre) | a | 289,680 | |||||
Mineral Properties, Gross | $ 11,947,144 | 11,947,144 | ||||
Overriding Royalty Per Pound | 0.21 | |||||
Oviedo Project [Member] | ||||||
Area of Land (Acre) | a | 223,749 | |||||
Mineral Properties, Gross | $ 1,133,412 | 1,133,412 | ||||
Percentage of Gross Overriding Royalty | 1.50% | |||||
Percentage of Gross Overriding Royalty, Exclusive Right and Option | 0.50% | |||||
Overriding Royalty, Exclusive Right and Option to Acquire | $ 166,667 | |||||
Percentage of Gross Overriding Royalty, Remaining | 1.00% | |||||
Alto Parana Titanium Project [Member] | ||||||
Area of Land (Acre) | a | 174,200 | |||||
Mineral Properties, Gross | $ 1,433,030 | $ 1,433,030 | ||||
Royalties Percentage | 1.50% | |||||
Percentage of Net Smelter Royalty, Right to Acquire | 0.50% | |||||
Payments to Acquire Smelter Royalty | $ 500,000 | |||||
Royalty Purchase Agreement [Member] | Uranium Royalty Corp [Member] | ||||||
Net Smelter Royalty, Percent | 1.00% | |||||
Number Of Shares Acquired Through Sale Of Royalties (in shares) | shares | 12,000,000 | 12,000,000 | ||||
Consideration Shares, Fair Value | $ 9,077,842 | $ 9,077,842 | ||||
Consideration Shares, Transaction Cost | $ 55,787 | 55,787 | ||||
Consideration Shares, Fair Value, Net | $ 9,022,055 |
Note 3 - Mineral Rights and P_4
Note 3 - Mineral Rights and Properties - Mineral Rights and Property Acquisition Costs (Details) - USD ($) | Jul. 31, 2020 | Jul. 31, 2019 | Jul. 31, 2018 |
Mineral Properties, Gross | $ 67,581,387 | $ 67,451,387 | |
Accumulated Depletion | (3,929,884) | (3,929,884) | |
Mineral Properties Excluding Mineral Rights, Net | 63,651,503 | 63,521,503 | |
Mineral Properties, Net, Total | 63,655,503 | 63,536,895 | |
Palangana Mine [Member] | |||
Mineral Properties, Gross | 6,027,784 | 6,027,784 | |
Goliad Project [Member] | |||
Mineral Properties, Gross | 8,689,127 | 8,689,127 | |
Burke Hollow Project [Member] | |||
Mineral Properties, Gross | 1,495,750 | 1,495,750 | |
Longhorn Project [Member] | |||
Mineral Properties, Gross | 116,870 | 116,870 | |
Salvo Project [Member] | |||
Mineral Properties, Gross | 14,905 | 14,905 | |
Anderson Project [Member] | |||
Mineral Properties, Gross | 3,470,373 | 3,470,373 | $ 9,154,268 |
Workman Creek Project [Member] | |||
Mineral Properties, Gross | 799,854 | 699,854 | |
Los Cuatros Project [Member] | |||
Mineral Properties, Gross | 257,250 | 257,250 | |
Slick Rock Project [Member] | |||
Mineral Properties, Gross | 30,000 | ||
Reno Creek Project [Member] | |||
Mineral Properties, Gross | 31,527,870 | 31,527,870 | |
Diabase Project [Member] | |||
Mineral Properties, Gross | 546,938 | 546,938 | |
Yuty Project [Member] | |||
Mineral Properties, Gross | 11,947,144 | 11,947,144 | |
Oviedo Project [Member] | |||
Mineral Properties, Gross | 1,133,412 | 1,133,412 | |
Alto Parana Titanium Project [Member] | |||
Mineral Properties, Gross | 1,433,030 | 1,433,030 | |
Other Property Acquisitions [Member] | |||
Mineral Properties, Gross | 91,080 | 91,080 | |
Mineral Rights, Databases [Member] | |||
Mineral rights, gross | 2,410,038 | 2,410,038 | |
Accumulated Amortization | (2,410,038) | (2,409,188) | |
Mineral Rights | 850 | ||
Land Use Agreements [Member] | |||
Mineral rights, gross | 48,770 | 404,310 | |
Accumulated Amortization | (44,770) | (389,768) | |
Mineral Rights | $ 4,000 | $ 14,542 |
Note 3 - Mineral Rights and P_5
Note 3 - Mineral Rights and Properties - Fair Value of Consideration Shares (Details) - USD ($) | Dec. 04, 2018 | Jul. 31, 2019 |
Net consideration | $ 9,022,055 | |
Royalty Purchase Agreement [Member] | Uranium Royalty Corp [Member] | ||
Fair value of Consideration Shares | $ 9,077,842 | 9,077,842 |
Consideration Shares, Transaction Cost | $ 55,787 | 55,787 |
Net consideration | $ 9,022,055 |
Note 3 - Mineral Rights and P_6
Note 3 - Mineral Rights and Properties - Net Consideration Allocation (Details) - USD ($) | Dec. 04, 2018 | Jul. 31, 2019 |
Allocation of Consideration | 100.00% | |
Net consideration | $ 9,022,055 | |
Anderson Project [Member] | ||
Allocation of Consideration | 63.00% | |
Net consideration | $ 5,683,895 | |
Workman Creek Project [Member] | ||
Allocation of Consideration | 12.00% | |
Net consideration | $ 1,082,646 | |
Slick Rock Project [Member] | ||
Allocation of Consideration | 25.00% | |
Net consideration | $ 2,255,514 | $ 2,255,514 |
Note 3 - Mineral Rights and P_7
Note 3 - Mineral Rights and Properties - Mineral Property Expenditures (Details) - USD ($) | 12 Months Ended | ||
Jul. 31, 2020 | Jul. 31, 2019 | Jul. 31, 2018 | |
Mineral Property Expenditures | $ 4,582,403 | $ 4,487,537 | $ 4,552,151 |
Revaluation of Asset Retirement Obligations | (274,195) | ||
Palangana Mine [Member] | |||
Mineral Property Expenditures | 1,342,927 | 1,027,139 | 1,047,635 |
Revaluation of Asset Retirement Obligations | (274,195) | ||
Goliad Project [Member] | |||
Mineral Property Expenditures | 190,278 | 96,789 | 105,264 |
Burke Hollow Project [Member] | |||
Mineral Property Expenditures | 1,130,467 | 1,616,601 | 675,605 |
Longhorn Project [Member] | |||
Mineral Property Expenditures | 17,023 | 45,848 | 14,401 |
Salvo Project [Member] | |||
Mineral Property Expenditures | 28,318 | 35,923 | 36,056 |
Anderson Project [Member] | |||
Mineral Property Expenditures | 71,170 | 81,414 | 68,167 |
Workman Creek Project [Member] | |||
Mineral Property Expenditures | 32,700 | 30,709 | 31,300 |
Slick Rock Project [Member] | |||
Mineral Property Expenditures | 52,521 | 53,843 | 52,218 |
Reno Creek Project [Member] | |||
Mineral Property Expenditures | 596,551 | 655,807 | 1,278,959 |
Yuty Project [Member] | |||
Mineral Property Expenditures | 65,679 | 102,882 | 425,298 |
Oviedo Project [Member] | |||
Mineral Property Expenditures | 350,211 | 288,324 | 119,082 |
Alto Parana Titanium Project [Member] | |||
Mineral Property Expenditures | 230,350 | 168,956 | 175,768 |
Other Property Acquisitions [Member] | |||
Mineral Property Expenditures | $ 474,208 | $ 557,497 | $ 522,398 |
Note 4 - Property, Plant and _3
Note 4 - Property, Plant and Equipment (Details Textual) - Hobson Processing Facility [Member] - USD ($) | 12 Months Ended | ||
Jul. 31, 2020 | Jul. 31, 2019 | Jul. 31, 2018 | |
Asset Retirement Obligation, Revision of Estimate | $ (176,253) | ||
Depreciation, Total | $ 0 | $ 0 | $ 0 |
Note 4 - Property, Plant and _4
Note 4 - Property, Plant and Equipment - Summary of Property, Plant and Equipment (Details) - USD ($) | Jul. 31, 2020 | Jul. 31, 2019 |
Cost | $ 12,571,933 | $ 12,693,479 |
Accumulated Depreciation | (5,552,116) | (5,651,120) |
Net Book Value | 7,019,817 | 7,042,359 |
Hobson Processing Facility [Member] | ||
Cost | 6,642,835 | 6,642,835 |
Accumulated Depreciation | (773,933) | (773,933) |
Net Book Value | 5,868,902 | 5,868,902 |
Mining Equipment [Member] | ||
Cost | 2,393,579 | 2,467,557 |
Accumulated Depreciation | (2,342,518) | (2,402,681) |
Net Book Value | 51,061 | 64,876 |
Logging Equipment and Vehicles [Member] | ||
Cost | 1,924,969 | 1,950,229 |
Accumulated Depreciation | (1,736,806) | (1,730,905) |
Net Book Value | 188,163 | 219,324 |
Computer Equipment [Member] | ||
Cost | 550,243 | 572,551 |
Accumulated Depreciation | (486,467) | (546,652) |
Net Book Value | 63,776 | 25,899 |
Furniture and Fixtures [Member] | ||
Cost | 170,701 | 170,701 |
Accumulated Depreciation | (169,946) | (169,379) |
Net Book Value | 755 | 1,322 |
Land and Building [Member] | ||
Cost | 889,606 | 889,606 |
Accumulated Depreciation | (42,446) | (27,570) |
Net Book Value | $ 847,160 | $ 862,036 |
Note 5 - Restricted Cash - Rest
Note 5 - Restricted Cash - Restricted Cash (Details) - USD ($) | 12 Months Ended | |
Jul. 31, 2020 | Jul. 31, 2019 | |
Restricted cash, beginning of period | $ 1,821,392 | $ 1,789,899 |
Interest received | 17,824 | 31,493 |
Restricted cash, end of period | $ 1,839,216 | $ 1,821,392 |
Note 5 - Restricted Cash - Cash
Note 5 - Restricted Cash - Cash, Cash Equivalents and Restricted Cash (Details) - USD ($) | Jul. 31, 2020 | Jul. 31, 2019 |
Cash and cash equivalents | $ 5,147,703 | $ 6,058,186 |
Restricted cash, end of period | 1,839,216 | 1,821,392 |
Total cash, cash equivalents and restricted cash | $ 6,986,919 | $ 7,879,578 |
Note 6 - Equity-accounted Inv_3
Note 6 - Equity-accounted Investment (Details Textual) - Uranium Royalty Corp [Member] - USD ($) $ in Millions | Dec. 04, 2018 | Jul. 31, 2019 | Jul. 31, 2020 | Jul. 31, 2018 |
Equity Method Investment, Shares Owned (in shares) | 14,000,000 | |||
Equity Method Investment, Ownership Percentage | 32.60% | 19.50% | 11.30% | |
Equity Method Investments, Fair Value Disclosure | $ 12.1 | |||
Royalty Purchase Agreement [Member] | ||||
Number Of Shares Acquired Through Sale Of Royalties (in shares) | 12,000,000 | 12,000,000 |
Note 6 - Equity-accounted Inv_4
Note 6 - Equity-accounted Investment - Change in Carrying Value of the Investment (Details) - USD ($) | 12 Months Ended | ||
Jul. 31, 2020 | Jul. 31, 2019 | Jul. 31, 2018 | |
Balance | $ 8,680,449 | $ 693,502 | $ 151,676 |
Share of income (loss) from URC | (89,073) | (1,858,901) | 29,001 |
Gain on ownership interest dilution | 3,056,656 | 755,545 | 394,656 |
Share of other comprehensive income | 118,169 | ||
Share consideration received from sale of royalty interests | 9,077,842 | ||
Translation gain | (132,705) | 12,461 | |
Balance | $ 11,515,327 | $ 8,680,449 | $ 693,502 |
Note 7 - Other Non-current As_2
Note 7 - Other Non-current Assets (Details Textual) - USD ($) | Jul. 31, 2020 | Jul. 31, 2019 |
Other Assets, Noncurrent, Total | $ 769,875 | $ 249,214 |
Other Noncurrent Assets [Member] | ||
Operating Lease, Right-of-Use Asset | 653,304 | |
Prepaid Expense, Noncurrent, Total | $ 116,571 | $ 249,214 |
Note 8 - Due to Related Parti_2
Note 8 - Due to Related Parties and Related Party Transactions (Details Textual) - USD ($) | Dec. 04, 2018 | Jul. 31, 2020 | Jul. 31, 2019 | Jul. 31, 2018 |
Stock Issued During Period, Value, For Settlement of Current Liabilities | $ 845,824 | |||
Royalty Purchase Agreement [Member] | Uranium Royalty Corp [Member] | ||||
Number Of Shares Acquired Through Sale Of Royalties (in shares) | 12,000,000 | 12,000,000 | ||
Common Stock [Member] | ||||
Stock Issued During Period, Shares, For Settlement of Current Liabilities (in shares) | 565,499 | |||
Stock Issued During Period, Value, For Settlement of Current Liabilities | $ 566 | |||
Blender Media Inc [Member] | ||||
Related Party Transaction, Expenses from Transactions with Related Party | $ 98,150 | $ 149,692 | $ 148,081 | |
Due to Related Parties, Total | $ 31,334 | $ 68,680 | ||
Blender Media Inc [Member] | Common Stock [Member] | ||||
Stock Issued During Period, Shares, For Settlement of Current Liabilities (in shares) | 104,706 | |||
Stock Issued During Period, Value, For Settlement of Current Liabilities | $ 141,678 |
Note 9 - Long-term Debt (Detail
Note 9 - Long-term Debt (Details Textual) | Dec. 05, 2018USD ($)shares | Jul. 31, 2020USD ($)shares | Jul. 31, 2019USD ($) | Jul. 31, 2018USD ($)shares |
Long-term Debt, Gross | $ 20,000,000 | $ 20,000,000 | ||
Stock Issued During Period, Shares, Credit Facility (in shares) | shares | 1,743,462 | 641,574 | ||
Stock Issued During Period, Value, Credit Facility | $ 1,400,000 | 1,400,000 | $ 900,000 | |
Percentage of Outstanding Principal of Anniversary Fee | 7.00% | 4.50% | ||
Amortization of Debt Discount (Premium) | $ 1,669,514 | $ 1,464,989 | $ 1,180,139 | |
Credit Agreement [Member] | ||||
Long-term Debt, Gross | $ 20,000,000 | $ 20,000,000 | $ 20,000,000 | |
Third Extension Fees Percentage | 7.00% | |||
Stock Issued Value Issued For Extension Fees | $ 1,400,000 | |||
Stock Issued, Shares Issued For Extension Fees (in shares) | shares | 1,180,328 | |||
Rate Of Anniversary Fee Payable In Next Twelve Months | 7.00% | |||
Rate Of Anniversary Fee Payable In Second Year | 6.50% | |||
Rate Of Anniversary Fee Payable in Third Year | 6.00% | |||
Percentage of Discount on Volume Weighted Average Price | 10.00% | |||
Anniversary Fee, Payment in Shares, Trading Days for Weighted Average Share Price | 5 | |||
Debt Instrument, Term (Year) | 8 years 182 days | |||
Debt Instrument, Interest Rate, Stated Percentage | 8.00% | |||
Debt Instrument, Interest Rate, Effective Percentage | 16.67% | |||
Anniversary Fees Payable In Next Twelve Months | $ 1,400,000 | |||
Anniversary Fees Payable In Second Year | 1,300,000 | |||
Anniversary Fees Payable In Third Year | $ 1,200,000 |
Note 9 - Long-term Debt - Long-
Note 9 - Long-term Debt - Long-term Debt (Details) - USD ($) | Jul. 31, 2020 | Jul. 31, 2019 |
Long-term Debt, Gross | $ 20,000,000 | $ 20,000,000 |
Unamortized discount and accrued fees | (130,523) | (400,037) |
Long-term debt, net of unamortized discount | $ 19,869,477 | $ 19,599,963 |
Note 9 - Long-term Debt - Yearl
Note 9 - Long-term Debt - Yearly Maturities of Long-term Debt (Details) - USD ($) | Jul. 31, 2020 | Jul. 31, 2019 |
Fiscal 2021 | ||
Fiscal 2022 | 20,000,000 | |
Total | $ 20,000,000 | $ 20,000,000 |
Note 10 - Government Loan Pay_2
Note 10 - Government Loan Payable (Details Textual) | May 05, 2020USD ($) | Apr. 30, 2020USD ($) | Apr. 30, 2020CAD ($) | Jul. 31, 2020USD ($) | Jul. 31, 2019USD ($) |
Long-term Debt, Total | $ 19,869,477 | $ 19,599,963 | |||
CEBA Loan [Member] | |||||
Proceeds from Issuance of Long-term Debt, Total | $ 29,842 | $ 40,000 | |||
Paycheck Protection Program CARES Act [Member] | |||||
Proceeds from Issuance of Long-term Debt, Total | $ 277,250 | ||||
Government Loan Payable [Member] | |||||
Long-term Debt, Total | $ 307,092 |
Note 11 - Asset Retirement Ob_3
Note 11 - Asset Retirement Obligations (Details Textual) | 12 Months Ended |
Jul. 31, 2019USD ($) | |
Palangana Mine [Member] | |
Asset Retirement Obligation, Revision of Estimate | $ (532,309) |
Hobson Processing Facility [Member] | |
Asset Retirement Obligation, Revision of Estimate | $ (176,253) |
Note 11 - Asset Retirement Ob_4
Note 11 - Asset Retirement Obligations - Change in Asset Retirement Obligation (Details) | 12 Months Ended |
Jul. 31, 2020USD ($) | |
Balance | $ 3,541,082 |
Accretion | 193,232 |
Balance | $ 3,734,314 |
Note 11 - Asset Retirement Ob_5
Note 11 - Asset Retirement Obligations - Estimated Amounts and Timing of Cash Flows and Assumptions Used for ARO Estimates (Details) | Jul. 31, 2020USD ($)yr | Jul. 31, 2019USD ($)yr |
Undiscounted amount of estimated cash flows | $ | $ 8,221,018 | $ 8,221,018 |
Measurement Input, Expected Term [Member] | Minimum [Member] | ||
Asset retirement obligations, measurement input (Year) | 9 | 9 |
Measurement Input, Expected Term [Member] | Maximum [Member] | ||
Asset retirement obligations, measurement input (Year) | 21 | 21 |
Measurement Input, Inflation Rate [Member] | Minimum [Member] | ||
Asset retirement obligations, measurement input (Year) | 0.0156 | 0.0156 |
Measurement Input, Inflation Rate [Member] | Maximum [Member] | ||
Asset retirement obligations, measurement input (Year) | 0.0217 | 0.0217 |
Measurement Input, Discount Rate [Member] | Minimum [Member] | ||
Asset retirement obligations, measurement input (Year) | 0.055 | 0.055 |
Measurement Input, Discount Rate [Member] | Maximum [Member] | ||
Asset retirement obligations, measurement input (Year) | 0.0596 | 0.0596 |
Note 11 - Asset Retirement Ob_6
Note 11 - Asset Retirement Obligations - Undiscounted Amounts of Estimated Cash Flows for the Next Five Fiscal Years and Beyond (Details) - USD ($) | Jul. 31, 2020 | Jul. 31, 2019 |
Fiscal 2021 | ||
Fiscal 2022 | ||
Fiscal 2023 | ||
Fiscal 2024 | ||
Fiscal 2025 | ||
Remaining balance | 8,221,018 | |
Undiscounted Amount of Estimated Cash Flows | $ 8,221,018 | $ 8,221,018 |
Note 12 - Lease Liabilities (De
Note 12 - Lease Liabilities (Details Textual) | 12 Months Ended |
Jul. 31, 2020USD ($) | |
Operating Lease, Weighted Average Remaining Lease Term (Year) | 15 years 146 days |
Operating Lease, Weighted Average Discount Rate, Percent | 4.70% |
Operating Lease, Payments | $ 176,425 |
Minimum [Member] | |
Lessee, Operating Lease, Remaining Lease Term (Year) | 255 days |
Maximum [Member] | |
Lessee, Operating Lease, Remaining Lease Term (Year) | 18 years 292 days |
Note 12 - Lease Liabilities - L
Note 12 - Lease Liabilities - Lease Expenses (Details) | 12 Months Ended |
Jul. 31, 2020USD ($) | |
Operating leases | $ 229,706 |
Short-term leases | 445,287 |
Total Lease Expenses | $ 674,993 |
Note 12 - Lease Liabilities - M
Note 12 - Lease Liabilities - Minimum Future Lease Payments (Details) | Jul. 31, 2020USD ($) |
Fiscal 2021 | $ 161,747 |
Fiscal 2022 | 220,000 |
Fiscal 2023 | 20,000 |
Fiscal 2024 | 20,000 |
Fiscal 2025 | 20,000 |
Thereafter | 300,000 |
Total lease payments | 741,747 |
Less: imputed interest | (164,474) |
Other Liabilities [Member] | |
Present value of lease liabilities | 577,273 |
Other Current Liabilities [Member] | |
Currrent portion of lease liabilities | 139,069 |
Other Noncurrent Liabilities [Member] | |
Non-curent portion of lease liabilities | $ 438,204 |
Note 13 - Capital Stock (Detail
Note 13 - Capital Stock (Details Textual) - USD ($) | Oct. 03, 2018 | Sep. 30, 2020 | Jul. 31, 2020 | Jul. 31, 2019 | Jul. 31, 2018 | Jul. 31, 2017 |
Shares Issued, Price Per Share (in dollars per share) | $ 1.33 | |||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 2.03 | $ 1.94 | $ 1.97 | $ 1.78 | ||
Share Price (in dollars per share) | $ 1.54 | |||||
Number of Warrants Exchanged for Common Shares (in shares) | 11,000,000 | |||||
Stock Issued During the Period, Shares, Issued in Exchange for Warrants (in shares) | 750,000 | |||||
Class of Warrant or Right Cancelled, Weighted Average Exercise Price (in dollars per share) | $ 2.30 | |||||
Warrants, Carrying Value Per Share (in dollars per share) | $ 0.45 | |||||
Carrying Value of Warrants | $ 4,950,000 | |||||
Fair Value Common Shares Issued for Warrants Exchanged | 997,500 | |||||
Proceeds from Warrant Exercises | $ 4,822,357 | |||||
Class of Warrant or Right, Exercised During Period (in shares) | 3,999,881 | |||||
Class of Warrant or Right, Exercised During Period, Exercise Price (in dollars per share) | $ 1.21 | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in shares) | 6,163,900 | 2,006,350 | 4,083,000 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value | $ 391,508 | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Aggregate Intrinsic Value | 95,261 | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Unvested in Period, Intrinsic Value | 296,247 | |||||
Shares Issued, Value, Share-based Payment Arrangement, after Forfeiture, Total | 1,122,917 | $ 1,361,944 | $ 1,711,579 | |||
Share Issuance Obligation Amount | $ 103,554 | $ 187,100 | ||||
Share-based Payment Arrangement, Option [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in shares) | 4,838,900 | 2,006,350 | 4,083,000 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Month) | 2 years | |||||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total | $ 2,500,153 | |||||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year) | 1 year 113 days | |||||
Share-based Payment Arrangement, Option [Member] | Share-based Payment Arrangement, Tranche One [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Month) | 90 days | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 12.50% | |||||
Share-based Payment Arrangement, Option [Member] | Share-based Payment Arrangement, Tranche Two [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Month) | 180 days | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 12.50% | |||||
Share-based Payment Arrangement, Option [Member] | Share-based Payment Arrangement, Tranche Three [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Month) | 1 year | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 25.00% | |||||
Share-based Payment Arrangement, Option [Member] | Share-based Compensation Award, Tranche Four [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Month) | 1 year 180 days | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 25.00% | |||||
Share-based Payment Arrangement, Option [Member] | Share-based Compensation Award, Tranche Five [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Month) | 2 years | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 25.00% | |||||
Performance Stock Option [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in shares) | 1,325,000 | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Month) | 3 years | |||||
Performance Stock Option [Member] | Share-based Payment Arrangement, Tranche One [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 33.33% | |||||
Performance Stock Option [Member] | Share-based Payment Arrangement, Tranche Two [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 33.33% | |||||
Performance Stock Option [Member] | Share-based Payment Arrangement, Tranche Three [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 33.33% | |||||
Options Granted during Fiscal 2020 and 2019 [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period (Year) | 10 years | |||||
Options Granted during Fiscal 2018 [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period (Year) | 5 years | |||||
Restricted Stock Units (RSUs) [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Month) | 3 years | 3 years | ||||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total | $ 1,315,500 | |||||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year) | 1 year 175 days | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares) | 1,305,000 | 465,000 | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value (in dollars per share) | $ 0.91 | $ 0.9421 | ||||
Share-based Payment Arrangement, Expense | $ 310,127 | $ 0 | $ 0 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period (in shares) | 155,000 | |||||
Shares Issued, Shares, Share-based Payment Arrangement, after Forfeiture, Total (in shares) | 105,844 | |||||
Shares Issued, Shares, Share-based Payment Arrangement, Forfeited (in shares) | 49,156 | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number, Ending Balance (in shares) | 1,615,000 | 465,000 | ||||
Restricted Stock Units (RSUs) [Member] | Share-based Payment Arrangement, Tranche One [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 50.00% | 33.33% | ||||
Restricted Stock Units (RSUs) [Member] | Share-based Payment Arrangement, Tranche Two [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 16.67% | 33.33% | ||||
Restricted Stock Units (RSUs) [Member] | Share-based Payment Arrangement, Tranche Three [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 16.67% | 33.33% | ||||
Restricted Stock Units (RSUs) [Member] | Share-based Compensation Award, Tranche Four [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 16.67% | |||||
Performance-based Restriced Stock Units [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Month) | 3 years | |||||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total | $ 239,352 | |||||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year) | 2 years | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares) | 445,000 | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value (in dollars per share) | $ 1.15 | |||||
Share-based Payment Arrangement, Expense | $ 272,658 | $ 0 | $ 0 | |||
Shares Issued, Shares, Share-based Payment Arrangement, after Forfeiture, Total (in shares) | 90,001 | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number, Ending Balance (in shares) | 333,750 | 445,000 | ||||
Performance-based Restriced Stock Units [Member] | Minimum [Member] | ||||||
Share-based Compensation Arrangement By Share-based Payment Award, Percentage Eligible to Vest | 0.00% | |||||
Performance-based Restriced Stock Units [Member] | Maximum [Member] | ||||||
Share-based Compensation Arrangement By Share-based Payment Award, Percentage Eligible to Vest | 200.00% | |||||
The 2018 Stock Incentive Plan [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant (in shares) | 0 | |||||
Shares Issued, Shares, Share-based Payment Arrangement, after Forfeiture, Total (in shares) | 398,839 | |||||
Shares Issued, Value, Share-based Payment Arrangement, after Forfeiture, Total | $ 510,527 | |||||
Share Issuance Obligation Amount | $ 638,142 | |||||
The 2019 Stock Incentive Plan [Member] | ||||||
Shares Issued, Shares, Share-based Payment Arrangement, after Forfeiture, Total (in shares) | 188,914 | |||||
Shares Issued, Value, Share-based Payment Arrangement, after Forfeiture, Total | $ 171,911 | |||||
Share Issuance Obligation Amount | $ 187,100 | |||||
October 2018 Warrants [Member] | ||||||
Class of Warrant or Right, Number of Securities Called by Each Warrant or Right (in shares) | 1 | |||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 2.05 | |||||
Warrants and Rights Outstanding, Term (Month) | 2 years 180 days | |||||
Subsequent Event [Member] | Warrant Issued with September 2020 Offering [Member] | ||||||
Class of Warrant or Right, Number of Securities Called by Each Warrant or Right (in shares) | 1 | |||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 1.80 | |||||
Warrants and Rights Outstanding, Term (Month) | 2 years | |||||
Subsequent Event [Member] | Warrant Issued to Agents [Member] | ||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 1.80 | |||||
Warrants and Rights Outstanding, Term (Month) | 2 years | |||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 583,333 | |||||
September 2020 Offering [Member] | Subsequent Event [Member] | ||||||
Number of Units Issued During Period (in shares) | 12,500,000 | |||||
Shares Issued, Price Per Share (in dollars per share) | $ 1.20 | |||||
Proceeds from Issuance or Sale of Equity, Total | $ 15,000,000 | |||||
Number of Shares per Unit Issued (in shares) | 1 | |||||
Number of Warrants per Unit (in shares) | 0.5 | |||||
The 2018 October Offering [Member] | ||||||
Number of Units Issued During Period (in shares) | 12,613,049 | |||||
Shares Issued, Price Per Share (in dollars per share) | $ 1.60 | |||||
Proceeds from Issuance or Sale of Equity, Total | $ 20,180,878 | |||||
Number of Shares per Unit Issued (in shares) | 1 | |||||
Number of Warrants per Unit (in shares) | 0.5 | |||||
Over-Allotment Option [Member] | ||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 2.05 | |||||
Warrants and Rights Outstanding, Term (Month) | 2 years 180 days | |||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 756,782 |
Note 13 - Capital Stock - Share
Note 13 - Capital Stock - Share Purchase Warrants Assumptions (Details) - October 2018 Warrants [Member] | Oct. 03, 2018yr |
Measurement Input, Risk Free Interest Rate [Member] | |
Warrants, measurement input | 0.029 |
Measurement Input, Price Volatility [Member] | |
Warrants, measurement input | 0.633 |
Measurement Input, Expected Term [Member] | |
Warrants, measurement input | 2.5 |
Measurement Input, Expected Dividend Rate [Member] | |
Warrants, measurement input | 0 |
Note 13 - Capital Stock - Net P
Note 13 - Capital Stock - Net Proceeds Allocation (Details) - The 2018 October Offering [Member] | Oct. 03, 2018USD ($) |
Fair Value of Shares | $ 22,518,788 |
Proceeds from Issuance or Sale of Equity, Total | 20,180,878 |
Share Issuance Costs - Cash | (1,211,667) |
Net Cash Proceeds Received | 18,969,211 |
Proceeds from Issuance or Sale of Equity, Net | 18,969,211 |
October 2018 Warrants [Member] | |
Fair Value of Share Purchase Warrants | 3,094,693 |
Share Purchase Warrants | 2,606,884 |
Common Stock [Member] | |
Fair Value of Shares | 19,424,095 |
Shares | $ 16,362,327 |
Note 13 - Capital Stock - Conti
Note 13 - Capital Stock - Continuity Schedule of Outstanding Share Purchase Warrants (Details) - $ / shares | 12 Months Ended | ||
Jul. 31, 2020 | Jul. 31, 2019 | Jul. 31, 2018 | |
Balance, Number of Warrants (in shares) | 19,443,910 | 30,923,489 | 19,676,560 |
Balance, Weighted Average Exercise Price (in dollars per share) | $ 1.94 | $ 1.97 | $ 1.78 |
Issued, Number of Warrants (in shares) | 300,000 | 7,063,253 | 11,358,728 |
Issued, Weighted Average Exercise Price (in dollars per share) | $ 1.38 | $ 2.05 | $ 2.30 |
Exercised, Number of Warrants (in shares) | (3,999,881) | (61,799) | |
Exercised, Weighted Average Exercise Price (in dollars per share) | $ 1.21 | $ 1.20 | |
Expired, Number of Warrants (in shares) | (12,021,929) | (3,542,951) | (50,000) |
Expired, Weighted Average Exercise Price (in dollars per share) | $ 1.87 | $ 2.13 | $ 1.95 |
Exchanged for shares pursuant to Securities Exchange Agreement, Number of Warrants (in shares) | (11,000,000) | ||
Exchanged for shares pursuant to Securities Exchange Agreement, Weighted Average Exercise Price (in dollars per share) | $ 2.30 | ||
Balance, Number of Warrants (in shares) | 7,721,981 | 19,443,910 | 30,923,489 |
Balance, Weighted Average Exercise Price (in dollars per share) | $ 2.03 | $ 1.94 | $ 1.97 |
Note 13 - Capital Stock - Warra
Note 13 - Capital Stock - Warrants Outstanding and Exercisable (Details) - $ / shares | 12 Months Ended | |||
Jul. 31, 2020 | Jul. 31, 2019 | Jul. 31, 2018 | Jul. 31, 2017 | |
Weighted Average Exercise Price (in dollars per share) | $ 2.03 | $ 1.94 | $ 1.97 | $ 1.78 |
Number of Warrants Outstanding (in shares) | 7,721,981 | 19,443,910 | 30,923,489 | 19,676,560 |
Weighted Average Remaining Contractual Life (Year) | 266 days | |||
Warrants 1 [Member] | ||||
Weighted Average Exercise Price (in dollars per share) | $ 1.25 | |||
Number of Warrants Outstanding (in shares) | 150,000 | |||
Weighted Average Remaining Contractual Life (Year) | 146 days | |||
Expiry Date | Dec. 23, 2020 | |||
Warrants 2 [Member] | ||||
Weighted Average Exercise Price (in dollars per share) | $ 1.50 | |||
Number of Warrants Outstanding (in shares) | 150,000 | |||
Weighted Average Remaining Contractual Life (Year) | 146 days | |||
Expiry Date | Dec. 23, 2020 | |||
Warrants 3 [Member] | ||||
Weighted Average Exercise Price (in dollars per share) | $ 2.05 | |||
Number of Warrants Outstanding (in shares) | 7,063,253 | |||
Weighted Average Remaining Contractual Life (Year) | 244 days | |||
Expiry Date | Apr. 3, 2021 | |||
Warrants 4 [Member] | ||||
Weighted Average Exercise Price (in dollars per share) | $ 2.30 | |||
Number of Warrants Outstanding (in shares) | 308,728 | |||
Weighted Average Remaining Contractual Life (Year) | 2 years 7 days | |||
Expiry Date | Aug. 9, 2022 | |||
Warrants 5 [Member] | ||||
Weighted Average Exercise Price (in dollars per share) | $ 1.64 | |||
Number of Warrants Outstanding (in shares) | 50,000 | |||
Weighted Average Remaining Contractual Life (Year) | 2 years 292 days | |||
Expiry Date | May 21, 2023 |
Note 13 - Capital Stock - Summa
Note 13 - Capital Stock - Summary of Stock Options Assumptions (Details) - $ / shares | 12 Months Ended | ||
Jul. 31, 2020 | Jul. 31, 2019 | Jul. 31, 2018 | |
Granted, Weighted Average Grant-Date Fair Value (in dollars per share) | $ 0.45 | $ 0.53 | $ 0.68 |
Share-based Payment Arrangement, Option [Member] | |||
Expected Risk Free Interest Rate | 0.40% | 1.86% | 2.24% |
Expected Volatility | 60.48% | 65.62% | 67.60% |
Expected Life in Years (Year) | 4 years 328 days | 4 years 328 days | 3 years 36 days |
Expected Dividend Yield | 0.00% | 0.00% | 0.00% |
Granted, Weighted Average Grant-Date Fair Value (in dollars per share) | $ 0.45 | $ 0.53 | $ 0.68 |
Note 13 - Capital Stock - Sched
Note 13 - Capital Stock - Schedule of Outstanding Stock Options (Details) - $ / shares | 12 Months Ended | ||
Jul. 31, 2020 | Jul. 31, 2019 | Jul. 31, 2018 | |
Balance, number of stock options (in shares) | 15,738,350 | 14,911,625 | 12,260,500 |
Balance, Weighted Average Exercise Price (in dollars per share) | $ 1.30 | $ 1.41 | $ 1.33 |
Granted, number of stock options (in shares) | 6,163,900 | 2,006,350 | 4,083,000 |
Granted, Weighted Average Exercise Price (in dollars per share) | $ 0.95 | $ 0.97 | $ 1.40 |
Exercised, number of stock options (in shares) | (259,625) | (1,365,625) | |
Exercised Options, Weighted Average Exercise Price (in dollars per share) | $ 1.12 | $ 0.70 | |
Cancelled/Forfeited, number of stock options (in shares) | (179,344) | (910,000) | (66,250) |
Cancelled/Forfeited, Weighted Average Exercise Price (in dollars per share) | $ 1.02 | $ 2.41 | $ 1.24 |
Expired, number of stock options (in shares) | (6,208,156) | (10,000) | |
Expired, Weighted Average Exercise Price (in dollars per share) | $ 1.39 | $ 1.50 | |
Balance, number of stock options (in shares) | 15,514,750 | 15,738,350 | 14,911,625 |
Balance, Weighted Average Exercise Price (in dollars per share) | $ 1.13 | $ 1.30 | $ 1.41 |
Note 13 - Capital Stock - Numbe
Note 13 - Capital Stock - Number of Shares Issued and Cash Received upon Exercise of the Stock Options (Details) - USD ($) | 12 Months Ended | ||
Jul. 31, 2020 | Jul. 31, 2019 | Jul. 31, 2018 | |
Number of Shares Issued Upon Exercise of Options (in shares) | 125,879 | 1,094,589 | |
Number of Options Exercised on Forfeiture Basis (in shares) | 193,375 | 580,625 | |
Number of Net Shares Issued (in shares) | 59,629 | 309,589 | |
Number of Options Exercised on Cash Basis (in shares) | 66,250 | 785,000 | |
Cash Received from Exercise of Stock Options | $ 72,363 | $ 530,050 | |
Total Intrinsic Value of Options Exercised | $ 134,174 | $ 1,049,694 |
Note 13 - Capital Stock - Sch_2
Note 13 - Capital Stock - Schedule of Outstanding Unvested Stock Options (Details) - $ / shares | 12 Months Ended | ||
Jul. 31, 2020 | Jul. 31, 2019 | Jul. 31, 2018 | |
Nonvested balance (in shares) | 3,310,600 | 3,479,500 | 765,750 |
Nonvested, Weighted Average Grant-Date Fair Value (in dollars per share) | $ 0.59 | $ 0.68 | $ 0.58 |
Granted, number of stock options (in shares) | 6,163,900 | 2,006,350 | 4,083,000 |
Granted, Weighted Average Grant-Date Fair Value (in dollars per share) | $ 0.45 | $ 0.53 | $ 0.68 |
Vested (in shares) | (2,590,154) | (2,055,250) | (1,303,000) |
Vested, Weighted Average Grant-Date Fair Value (in dollars per share) | $ 0.60 | $ 0.68 | $ 0.65 |
Cancelled/Forfeited (in shares) | (86,875) | (120,000) | (66,250) |
Cancelled/Forfeited, Weighted Average Grant-Date Fair Value (in dollars per share) | $ 0.43 | $ 0.67 | $ 0.62 |
Granted, Weighted Average Grant-Date Fair Value (in dollars per share) | $ 0.45 | $ 0.53 | $ 0.68 |
Nonvested balance (in shares) | 6,797,471 | 3,310,600 | 3,479,500 |
Nonvested, Weighted Average Grant-Date Fair Value (in dollars per share) | $ 0.46 | $ 0.59 | $ 0.68 |
Note 13 - Capital Stock - Sum_2
Note 13 - Capital Stock - Summary of Stock Options Outstanding and Exercisable (Details) - $ / shares | 12 Months Ended | |||
Jul. 31, 2020 | Jul. 31, 2019 | Jul. 31, 2018 | Jul. 31, 2017 | |
Options Outstanding Outstanding (in shares) | 15,514,750 | 15,738,350 | 14,911,625 | 12,260,500 |
Options Outstanding Weighted Average Exercise Price (in dollars per share) | $ 1.13 | $ 1.30 | $ 1.41 | $ 1.33 |
Options Outstanding Weighted Average Remaining Contractual Term (Year) | 5 years 233 days | |||
Options Exercisable (in shares) | 8,717,279 | |||
Options Exercisable Weighted Average Exercise Price (in dollars per share) | $ 1.27 | |||
Options Exercisable Weighted Average Remaining Contractual Term (Year) | 2 years 222 days | |||
Exercise Price Range 1 [Member] | ||||
Range of Exercise Prices, Lower Limit (in dollars per share) | $ 0.80 | |||
Range of Exercise Prices, Upper Limit (in dollars per share) | $ 0.99 | |||
Options Outstanding Outstanding (in shares) | 8,169,500 | |||
Options Outstanding Weighted Average Exercise Price (in dollars per share) | $ 0.92 | |||
Options Outstanding Weighted Average Remaining Contractual Term (Year) | 7 years 233 days | |||
Options Exercisable (in shares) | 2,843,279 | |||
Options Exercisable Weighted Average Exercise Price (in dollars per share) | $ 0.94 | |||
Options Exercisable Weighted Average Remaining Contractual Term (Year) | 4 years 10 days | |||
Exercise Price Range 2 [Member] | ||||
Range of Exercise Prices, Lower Limit (in dollars per share) | $ 1 | |||
Range of Exercise Prices, Upper Limit (in dollars per share) | $ 1.49 | |||
Options Outstanding Outstanding (in shares) | 5,005,000 | |||
Options Outstanding Weighted Average Exercise Price (in dollars per share) | $ 1.19 | |||
Options Outstanding Weighted Average Remaining Contractual Term (Year) | 3 years 295 days | |||
Options Exercisable (in shares) | 3,533,750 | |||
Options Exercisable Weighted Average Exercise Price (in dollars per share) | $ 1.22 | |||
Options Exercisable Weighted Average Remaining Contractual Term (Year) | 1 year 171 days | |||
Exercise Price Range 3 [Member] | ||||
Range of Exercise Prices, Lower Limit (in dollars per share) | $ 1.50 | |||
Range of Exercise Prices, Upper Limit (in dollars per share) | $ 3.28 | |||
Options Outstanding Outstanding (in shares) | 2,340,250 | |||
Options Outstanding Weighted Average Exercise Price (in dollars per share) | $ 1.75 | |||
Options Outstanding Weighted Average Remaining Contractual Term (Year) | 2 years 215 days | |||
Options Exercisable (in shares) | 2,340,250 | |||
Options Exercisable Weighted Average Exercise Price (in dollars per share) | $ 1.75 | |||
Options Exercisable Weighted Average Remaining Contractual Term (Year) | 2 years 215 days |
Note 13 - Capital Stock - Sum_3
Note 13 - Capital Stock - Summary of Outstanding Unvested RSUs (Details) - Restricted Stock Units (RSUs) [Member] - USD ($) | 12 Months Ended | ||
Jul. 31, 2020 | Jul. 31, 2019 | Jul. 31, 2018 | |
Number of Restricted Stock Units (in shares) | 1,615,000 | 465,000 | |
Grant Date Fair Value (in dollars per share) | $ 0.92 | $ 0.94 | |
Remaining Life (Year) | 2 years 281 days | ||
Aggregate Intrinsic Value | $ 86,949 | ||
July 30, 2019 [Member] | |||
Number of Restricted Stock Units (in shares) | 310,000 | ||
Grant Date Fair Value (in dollars per share) | $ 0.94 | ||
Remaining Life (Year) | 2 years | ||
Aggregate Intrinsic Value | $ 8,649 | ||
July 16, 2020 [Member] | |||
Number of Restricted Stock Units (in shares) | 1,305,000 | ||
Grant Date Fair Value (in dollars per share) | $ 0.91 | ||
Remaining Life (Year) | 2 years 350 days | ||
Aggregate Intrinsic Value | $ 78,300 |
Note 13 - Capital Stock - Sch_3
Note 13 - Capital Stock - Schedule of Outstanding RSUs (Details) - Restricted Stock Units (RSUs) [Member] - $ / shares | 12 Months Ended | |
Jul. 31, 2020 | Jul. 31, 2019 | |
Balance, number of restricted stock units (in shares) | 465,000 | |
Balance, weighted average grant date fair value (in dollars per share) | $ 0.94 | |
Granted, number of restricted stock units (in shares) | 1,305,000 | 465,000 |
Granted, weighted average grant date fair value (in dollars per share) | $ 0.91 | $ 0.9421 |
Vested, number of restricted stock units (in shares) | (155,000) | |
Vested, weighted average grant date fair value (in dollars per share) | $ 0.94 | |
Balance, number of restricted stock units (in shares) | 1,615,000 | 465,000 |
Balance, weighted average grant date fair value (in dollars per share) | $ 0.92 | $ 0.94 |
Note 13 - Capital Stock - Perfo
Note 13 - Capital Stock - Performance Based Restricted Stock Units Assumptions (Details) - Performance-based Restriced Stock Units [Member] | 12 Months Ended |
Jul. 31, 2019 | |
Expected Dividend Yield | 0.00% |
Expected Life in Years (Year) | 3 years |
Correlation | 57.10% |
Minimum [Member] | |
Expected Risk Free Interest Rate | 1.99% |
Expected Volatility | 56.74% |
Maximum [Member] | |
Expected Risk Free Interest Rate | 2.20% |
Expected Volatility | 61.75% |
Note 13 - Capital Stock - Sum_4
Note 13 - Capital Stock - Summary of Stock-based Compensation Expense (Details) - USD ($) | 12 Months Ended | ||
Jul. 31, 2020 | Jul. 31, 2019 | Jul. 31, 2018 | |
Share-based Payment Arrangement, Noncash Expense, Total | $ 3,493,218 | $ 2,948,041 | $ 3,504,058 |
Common stock issued | 1,122,917 | 1,361,944 | 1,711,579 |
Settlement of share issuance obligation | (15,189) | (127,615) | |
Consultants [Member] | |||
Common stock issued for consulting services | 539,552 | 644,307 | 740,640 |
Amortization of expenses | 240,912 | 153,549 | 582,842 |
Share-based Payment Arrangement, Noncash Expense, Total | 780,464 | 797,856 | 1,323,482 |
Management [Member] | |||
Amortization of expenses | 644,516 | 516,266 | 284,556 |
Share-based Payment Arrangement, Noncash Expense, Total | 1,452,518 | 785,954 | 987,061 |
Common stock issued | 225,217 | 269,688 | 702,505 |
Management [Member] | Restricted Stock Units (RSUs) and Performance Restricted Stock Units (PRSUs) [Member] | |||
Amortization of expenses | 582,785 | ||
Employees [Member] | |||
Amortization of expenses | 640,011 | 689,743 | 547,231 |
Share-based Payment Arrangement, Noncash Expense, Total | 1,275,425 | 1,364,231 | 1,321,130 |
Common stock issued | $ 635,414 | $ 674,488 | $ 773,899 |
Note 14 - Loss Per Share - Weig
Note 14 - Loss Per Share - Weighted Average Number of Shares Used in the Calculation of the Basic and Diluted Loss Per Share (Details) - USD ($) | 12 Months Ended | ||
Jul. 31, 2020 | Jul. 31, 2019 | Jul. 31, 2018 | |
Net loss for the year | $ (14,610,516) | $ (17,152,789) | $ (17,826,634) |
Basic Weighted Average Number of Shares (in shares) | 183,041,766 | 175,844,624 | 157,123,025 |
Dilutive Stock Options, RSUs, PRSUs and Warrants (in shares) | |||
Diluted Weighted Average Number of Shares (in shares) | 183,041,766 | 175,844,624 | 157,123,025 |
NET LOSS PER SHARE, BASIC AND DILUTED (in dollars per share) | $ (0.08) | $ (0.10) | $ (0.11) |
Note 15 - Income Taxes (Details
Note 15 - Income Taxes (Details Textual) $ in Millions | 7 Months Ended | 12 Months Ended | |||
Jul. 31, 2018 | Jul. 31, 2020USD ($) | Jul. 31, 2019USD ($) | Jul. 31, 2018USD ($) | Jul. 31, 2020CAD ($) | |
Interest Expense Carryforward | $ 3,400,000 | ||||
Current Income Tax Expense (Benefit), Total | 0 | ||||
Deferred Income Tax Expense (Benefit), Total | (5,551) | $ (14,372) | $ (707,511) | ||
Effective Income Tax Rate Reconciliation, Tax Cuts and Jobs Act, Amount | $ (232,843) | ||||
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 21.00% | 21.00% | 21.00% | 26.87% | |
Effective Income Tax Rate Reconciliation, Recognition of Deferred Tax Assets to Offset Deferred Tax Liability, Amount | $ (430,121) | ||||
Percentage of Valuation Allowance Recorded from Income Taxes | 100.00% | ||||
UNITED STATES | |||||
Operating Loss Carryforwards With Indefinite Life | $ 37,300,000 | ||||
Domestic Tax Authority [Member] | Internal Revenue Service (IRS) [Member] | |||||
Operating Loss Carryforwards, Total | $ 167,300,000 | ||||
Foreign Tax Authority [Member] | Canada Revenue Agency [Member] | |||||
Operating Loss Carryforwards, Total | $ 5.1 |
Note 15 - Income Taxes - Reconc
Note 15 - Income Taxes - Reconciliation of Income Tax (Details) | 7 Months Ended | 12 Months Ended | ||
Jul. 31, 2018 | Jul. 31, 2020 | Jul. 31, 2019 | Jul. 31, 2018 | |
Federal income tax provision rate | 21.00% | 21.00% | 21.00% | 26.87% |
State income tax provision rate, net of federal income tax effect | 0.72% | 0.52% | 0.59% | |
Total income tax provision rate | 21.72% | 21.52% | 27.46% |
Note 15 - Income Taxes - Compon
Note 15 - Income Taxes - Components of Income Tax Provision (Details) - USD ($) | 12 Months Ended | ||
Jul. 31, 2020 | Jul. 31, 2019 | Jul. 31, 2018 | |
Loss before income taxes | $ (14,616,067) | $ (17,167,161) | $ (18,534,145) |
Corporate tax rate | 21.72% | 21.52% | 27.46% |
Expected tax recovery | $ (3,174,610) | $ (3,694,373) | $ (5,089,476) |
Foreign tax rate differences | 85,796 | 90,391 | 167,162 |
Permanent differences | 170,023 | 2,427,665 | 434,863 |
Prior year true-up | (435,565) | (160,019) | (141,814) |
Foreign exchange rate differences | 17,456 | 39,667 | (41,014) |
Other | 71,805 | (94,291) | 35,706 |
Recognition of deferred tax assets | 430,121 | ||
Change in valuation allowance | 3,233,427 | 1,373,462 | 4,156,768 |
Tax adjustment from operations | (31,668) | (17,498) | (47,684) |
Re-measurement of deferred tax liability at 21% | (232,843) | ||
Recognition of deferred tax assets to offset deferred tax liability | (430,121) | ||
Unrealized loss, other comprehensive loss | 26,117 | 3,126 | 3,137 |
Deferred tax benefits | $ (5,551) | $ (14,372) | $ (707,511) |
Note 15 - Income Taxes - Comp_2
Note 15 - Income Taxes - Components of Income (Loss) from Operations Before Income Taxes, by Tax Jurisdiction (Details) - USD ($) | 12 Months Ended | ||
Jul. 31, 2020 | Jul. 31, 2019 | Jul. 31, 2018 | |
Income (loss) from operations before income taxes | $ (14,616,067) | $ (17,167,161) | $ (18,534,145) |
Domestic Tax Authority [Member] | Internal Revenue Service (IRS) [Member] | |||
Income (loss) from operations before income taxes | (13,962,287) | (16,560,132) | (17,709,866) |
Foreign Tax Authority [Member] | Canada Revenue Agency [Member] | |||
Income (loss) from operations before income taxes | 53,960 | 120,362 | 145,267 |
Foreign Tax Authority [Member] | Tax Administration of Paraguay [Member] | |||
Income (loss) from operations before income taxes | $ (707,740) | $ (727,391) | $ (969,546) |
Note 15 - Income Taxes - Deferr
Note 15 - Income Taxes - Deferred Tax Assets (Liabilities) (Details) - USD ($) | Jul. 31, 2020 | Jul. 31, 2019 |
Mineral properties | $ 1,270,292 | $ 1,256,327 |
Exploration costs | 6,384,265 | 6,551,403 |
Stock option expense | 4,594,159 | 4,570,905 |
Depreciable property | (1,157,934) | (937,614) |
Inventories | (3,550,814) | (3,343,361) |
Asset retirement obligations | 62,626 | 20,561 |
Other | 58,559 | 35,983 |
Section 163(j) interest expense carry forwards | 733,343 | 384,109 |
Loss carry forwards | 46,552,687 | 43,198,434 |
Deferred Tax Assets, Gross, Total | 54,947,183 | 51,736,747 |
Valuation allowance | (54,973,300) | (51,739,873) |
Deferred tax assets | (26,117) | (3,126) |
Deferred tax assets, other comprehensive loss | 26,117 | 3,126 |
Mineral properties | (545,000) | (550,551) |
Net deferred tax liabilities | $ (545,000) | $ (550,551) |
Note 15 - Income Taxes - Net Op
Note 15 - Income Taxes - Net Operating Loss Carry-forwards Expirations (Details) - Jul. 31, 2020 | USD ($) | CAD ($) |
Domestic Tax Authority [Member] | Internal Revenue Service (IRS) [Member] | ||
Net Operating Loss Carry-forwards Subject to Expiration | $ 167,299,520 | |
Foreign Tax Authority [Member] | Canada Revenue Agency [Member] | ||
Net Operating Loss Carry-forwards Subject to Expiration | $ 5,051,867 | |
Tax Year 2023 [Member] | Domestic Tax Authority [Member] | Internal Revenue Service (IRS) [Member] | ||
Net Operating Loss Carry-forwards Subject to Expiration | 180,892 | |
Tax Year 2027 [Member] | Domestic Tax Authority [Member] | Internal Revenue Service (IRS) [Member] | ||
Net Operating Loss Carry-forwards Subject to Expiration | 3,892,722 | |
Tax Year 2027 [Member] | Foreign Tax Authority [Member] | Canada Revenue Agency [Member] | ||
Net Operating Loss Carry-forwards Subject to Expiration | 183,105 | |
Tax Year 2024 [Member] | Domestic Tax Authority [Member] | Internal Revenue Service (IRS) [Member] | ||
Net Operating Loss Carry-forwards Subject to Expiration | 228,757 | |
Tax Year 2028 [Member] | Foreign Tax Authority [Member] | Canada Revenue Agency [Member] | ||
Net Operating Loss Carry-forwards Subject to Expiration | 629,788 | |
Tax Year 2025 [Member] | Domestic Tax Authority [Member] | Internal Revenue Service (IRS) [Member] | ||
Net Operating Loss Carry-forwards Subject to Expiration | 507,833 | |
Tax Year 2029 [Member] | Foreign Tax Authority [Member] | Canada Revenue Agency [Member] | ||
Net Operating Loss Carry-forwards Subject to Expiration | 769,072 | |
Tax Year 2026 [Member] | Domestic Tax Authority [Member] | Internal Revenue Service (IRS) [Member] | ||
Net Operating Loss Carry-forwards Subject to Expiration | 5,895,221 | |
Tax Year 2030 [Member] | Foreign Tax Authority [Member] | Canada Revenue Agency [Member] | ||
Net Operating Loss Carry-forwards Subject to Expiration | 764,230 | |
Tax Year 2031 [Member] | Foreign Tax Authority [Member] | Canada Revenue Agency [Member] | ||
Net Operating Loss Carry-forwards Subject to Expiration | 1,747,548 | |
Remaining [Member] | Domestic Tax Authority [Member] | Internal Revenue Service (IRS) [Member] | ||
Net Operating Loss Carry-forwards Subject to Expiration | $ 156,594,095 | |
Remaining [Member] | Foreign Tax Authority [Member] | Canada Revenue Agency [Member] | ||
Net Operating Loss Carry-forwards Subject to Expiration | $ 958,124 |
Note 17 - Segmented Informati_3
Note 17 - Segmented Information (Details Textual) | 12 Months Ended | |
Jul. 31, 2020USD ($) | Jul. 31, 2019USD ($) | |
Long-Lived Assets | $ 84,799,738 | $ 81,330,309 |
Number of Reportable Segments | 1 | |
UNITED STATES | ||
Long-Lived Assets | $ 57,786,932 | |
Percentage of Long Term Assets | 68.00% |
Note 17 - Segmented Informati_4
Note 17 - Segmented Information - Long-term Assets by Geographic Segments (Details) - USD ($) | Jul. 31, 2020 | Jul. 31, 2019 | Jul. 31, 2018 | Jul. 31, 2017 |
Mineral Rights and Properties | $ 63,655,503 | $ 63,536,895 | ||
Property, Plant and Equipment | 7,019,817 | 7,042,359 | ||
Restricted Cash | 1,839,216 | 1,821,392 | $ 1,789,899 | |
Equity-Accounted Investment | 11,515,327 | 8,680,449 | $ 693,502 | $ 151,676 |
Other Non-Current Assets | 769,875 | 249,214 | ||
Total Long-Term Assets | 84,799,738 | 81,330,309 | ||
United States Texas [Member] | ||||
Mineral Rights and Properties | 12,422,661 | 12,433,203 | ||
Property, Plant and Equipment | 6,299,786 | 6,333,950 | ||
Restricted Cash | 1,750,243 | 1,732,419 | ||
Equity-Accounted Investment | ||||
Other Non-Current Assets | 703,312 | 221,214 | ||
Total Long-Term Assets | 21,176,002 | 20,720,786 | ||
United States Arizona [Member] | ||||
Mineral Rights and Properties | 4,527,477 | 4,427,477 | ||
Property, Plant and Equipment | ||||
Restricted Cash | 15,000 | 15,000 | ||
Equity-Accounted Investment | ||||
Other Non-Current Assets | ||||
Total Long-Term Assets | 4,542,477 | 4,442,477 | ||
United States Wyoming [Member] | ||||
Mineral Rights and Properties | 31,527,870 | 31,527,870 | ||
Property, Plant and Equipment | 327,639 | 342,515 | ||
Restricted Cash | 73,973 | 73,973 | ||
Equity-Accounted Investment | ||||
Other Non-Current Assets | 22,000 | 28,000 | ||
Total Long-Term Assets | 31,951,482 | 31,972,358 | ||
United States Other States [Member] | ||||
Mineral Rights and Properties | 116,971 | 87,822 | ||
Property, Plant and Equipment | ||||
Restricted Cash | ||||
Equity-Accounted Investment | ||||
Other Non-Current Assets | ||||
Total Long-Term Assets | 116,971 | 87,822 | ||
CANADA | ||||
Mineral Rights and Properties | 546,938 | 546,938 | ||
Property, Plant and Equipment | 29,677 | 14,223 | ||
Restricted Cash | ||||
Equity-Accounted Investment | 11,515,327 | 8,680,449 | ||
Other Non-Current Assets | 44,563 | |||
Total Long-Term Assets | 12,136,505 | 9,241,610 | ||
PARAGUAY | ||||
Mineral Rights and Properties | 14,513,586 | 14,513,585 | ||
Property, Plant and Equipment | 362,715 | 351,671 | ||
Restricted Cash | ||||
Equity-Accounted Investment | ||||
Other Non-Current Assets | ||||
Total Long-Term Assets | $ 14,876,301 | $ 14,865,256 |
Note 17 - Segmented Informati_5
Note 17 - Segmented Information - Operating Results by Geographic Segments (Details) - USD ($) | 12 Months Ended | ||
Jul. 31, 2020 | Jul. 31, 2019 | Jul. 31, 2018 | |
Mineral Property Expenditures | $ 4,582,403 | $ 4,487,537 | $ 4,552,151 |
General and administrative | 9,441,898 | 10,142,035 | 11,407,206 |
Depreciation, amortization and accretion | 310,222 | 347,441 | 354,624 |
Loss from operations | (14,334,523) | (14,977,013) | (16,313,981) |
Other income (expenses) | (281,544) | (2,190,148) | (2,220,164) |
Loss before income taxes | (14,616,067) | (17,167,161) | (18,534,145) |
United States Texas [Member] | |||
Mineral Property Expenditures | 3,165,898 | 3,072,855 | 2,381,993 |
General and administrative | 6,982,684 | 6,619,855 | 7,055,370 |
Depreciation, amortization and accretion | 273,687 | 314,599 | 325,567 |
Loss from operations | (10,422,269) | (10,007,309) | (9,762,930) |
Other income (expenses) | (3,417,783) | (3,337,331) | (2,630,691) |
Loss before income taxes | (13,840,052) | (13,344,640) | (12,393,621) |
United States Arizona [Member] | |||
Mineral Property Expenditures | 104,191 | 112,724 | 100,296 |
General and administrative | 13,717 | 14,040 | 13,877 |
Depreciation, amortization and accretion | |||
Loss from operations | (117,908) | (126,764) | (114,173) |
Other income (expenses) | (18,965) | (18,914) | (18,914) |
Loss before income taxes | (136,873) | (145,678) | (133,087) |
United States Wyoming [Member] | |||
Mineral Property Expenditures | 596,551 | 655,807 | 1,282,164 |
General and administrative | 112,193 | 147,648 | 581,277 |
Depreciation, amortization and accretion | 14,876 | 14,876 | 12,847 |
Loss from operations | (723,620) | (818,331) | (1,876,288) |
Other income (expenses) | 2,095 | 2,284 | 1,541 |
Loss before income taxes | (721,525) | (816,047) | (1,874,747) |
United States Other States [Member] | |||
Mineral Property Expenditures | 69,523 | 69,910 | 67,550 |
General and administrative | 2,277 | 3,557 | 10,931 |
Depreciation, amortization and accretion | 850 | 996 | 996 |
Loss from operations | (72,650) | (74,463) | (79,477) |
Other income (expenses) | 1,578,864 | ||
Loss before income taxes | (72,650) | 1,504,401 | (79,477) |
CANADA | |||
Mineral Property Expenditures | 16,078 | ||
General and administrative | 2,272,138 | 3,165,883 | 3,467,934 |
Depreciation, amortization and accretion | 11,959 | 11,666 | 11,599 |
Loss from operations | (2,284,097) | (3,193,627) | (3,479,533) |
Other income (expenses) | 3,147,724 | (432,598) | 423,657 |
Loss before income taxes | 863,627 | (3,626,225) | (3,055,876) |
PARAGUAY | |||
Mineral Property Expenditures | 646,240 | 560,163 | 720,148 |
General and administrative | 58,889 | 191,052 | 277,817 |
Depreciation, amortization and accretion | 8,850 | 5,304 | 3,615 |
Loss from operations | (713,979) | (756,519) | (1,001,580) |
Other income (expenses) | 5,385 | 17,547 | 4,243 |
Loss before income taxes | $ (708,594) | $ (738,972) | $ (997,337) |
Note 18 - Supplemental Cash F_2
Note 18 - Supplemental Cash Flow Information (Details Textual) - USD ($) | 12 Months Ended | ||
Jul. 31, 2020 | Jul. 31, 2019 | Jul. 31, 2018 | |
Interest Paid, Excluding Capitalized Interest, Operating Activities | $ 1,626,667 | $ 1,622,222 | $ 1,622,222 |
Stock Issued During Period, Value, Acquisitions | $ 23,771,623 | ||
Reno Creek Project [Member] | |||
Stock Issued During Period, Shares, Acquisitions (in shares) | 14,634,748 | ||
Payments to Acquire Businesses, Gross | $ 909,930 | ||
Stock Issued During Period, Shares, Issued for Reimbursable Acquisition Expenses (in shares) | 353,160 | ||
Stock Issued During Period, Value, Issued for Reimbursable Acquisition Expenses | $ 483,829 | ||
Stock Issued During Period, Shares, Transaction Costs (in shares) | 217,702 | ||
Stock Issued During Period, Value, Transaction Costs | $ 283,013 | ||
North Reno Creek Project [Member] | |||
Stock Issued During Period, Shares, Acquisitions (in shares) | 1,625,531 | ||
Stock Issued During Period, Shares, Transaction Costs (in shares) | 65,684 | ||
Stock Issued During Period, Value, Transaction Costs | $ 105,751 | ||
Stock Issued During Period, Value, Acquisitions | 2,617,105 | ||
Payments to Acquire Assets, Gross | $ 2,940,000 | ||
Diabase Project [Member] | |||
Stock Issued During Period, Shares, Acquisitions (in shares) | 164,767 | ||
Stock Issued During Period, Value, Acquisitions | $ 232,321 | ||
Payments to Acquire Assets, Gross | 239,120 | ||
Surety Bond [Member] | |||
Payment of Bond Premiums | $ 116,279 | $ 113,117 | $ 118,944 |