Document And Entity Information
Document And Entity Information - shares | 3 Months Ended | |
Oct. 31, 2021 | Dec. 14, 2021 | |
Document Information [Line Items] | ||
Entity Central Index Key | 0001334933 | |
Entity Registrant Name | URANIUM ENERGY CORP | |
Amendment Flag | false | |
Current Fiscal Year End Date | --07-31 | |
Document Fiscal Period Focus | Q1 | |
Document Fiscal Year Focus | 2022 | |
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Oct. 31, 2021 | |
Document Transition Report | false | |
Entity File Number | 001-33706 | |
Entity Incorporation, State or Country Code | NV | |
Entity Tax Identification Number | 98-0399476 | |
Entity Address, Address Line One | 1030 West Georgia Street, Suite 1830 | |
Entity Address, City or Town | Vancouver | |
Entity Address, Country | CA | |
Entity Address, Postal Zip Code | V6E 2Y3 | |
City Area Code | 604 | |
Local Phone Number | 682-9775 | |
Title of 12(b) Security | Common Stock | |
Trading Symbol | UEC | |
Security Exchange Name | NYSEAMER | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business | true | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 267,253,604 |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) | Oct. 31, 2021 | Jul. 31, 2021 |
CURRENT ASSETS | ||
Cash and cash equivalents | $ 96,304,124 | $ 44,312,780 |
Inventories | 36,217,420 | 29,172,480 |
Prepaid expenses and deposits | 1,777,355 | 1,434,404 |
Other current assets | 128,155 | 125,698 |
TOTAL CURRENT ASSETS | 134,427,054 | 75,045,362 |
MINERAL RIGHTS AND PROPERTIES | 64,009,292 | 63,784,003 |
PROPERTY, PLANT AND EQUIPMENT | 7,318,570 | 7,358,037 |
RESTRICTED CASH | 2,037,677 | 2,037,677 |
EQUITY-ACCOUNTED INVESTMENT | 23,626,010 | 20,729,674 |
OTHER NON-CURRENT ASSETS | 1,300,048 | 586,332 |
TOTAL ASSETS | 232,718,651 | 169,541,085 |
CURRENT LIABILITIES | ||
Accounts payable and accrued liabilities | 2,173,618 | 2,763,570 |
Other current liabilities | 310,968 | 238,899 |
Current portion of other loans payable | 193,934 | 191,510 |
Current portion of long-term debt | 10,340,802 | 10,075,231 |
TOTAL CURRENT LIABILITIES | 13,019,322 | 13,269,210 |
OTHER LOANS PAYABLE | 16,565 | 65,952 |
ASSET RETIREMENT OBLIGATIONS | 3,989,740 | 3,938,655 |
OTHER NON-CURRENT LIABILITIES | 271,530 | 271,132 |
DEFERRED TAX LIABILITIES | 539,948 | 540,992 |
TOTAL LIABILITIES | 17,837,105 | 18,085,941 |
STOCKHOLDERS' EQUITY | ||
Common stock $0.001 par value: 750,000,000 shares authorized, 258,996,829 shares issued and outstanding (July 31, 2021 - 236,796,866) | 258,996 | 236,797 |
Additional paid-in capital | 507,325,510 | 441,990,650 |
Share issuance obligation | 359,560 | 359,560 |
Accumulated deficit | (293,698,936) | (291,625,110) |
Accumulated other comprehensive income | 636,416 | 493,247 |
TOTAL EQUITY | 214,881,546 | 151,455,144 |
TOTAL LIABILITIES AND EQUITY | $ 232,718,651 | $ 169,541,085 |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - $ / shares | Oct. 31, 2021 | Jul. 31, 2021 |
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) | 258,996,829 | 236,796,866 |
Common stock, shares outstanding (in shares) | 258,996,829 | 236,796,866 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited) - USD ($) | 3 Months Ended | |
Oct. 31, 2021 | Oct. 31, 2020 | |
COSTS AND EXPENSES | ||
Mineral property expenditures | $ 1,656,516 | $ 701,761 |
General and administrative | 3,116,711 | 2,585,689 |
Depreciation, amortization and accretion | 98,440 | 99,180 |
LOSS FROM OPERATIONS | (4,871,667) | (3,386,630) |
OTHER INCOME (EXPENSES) | ||
Interest income | 20,571 | 5,610 |
Interest expenses and finance costs | (530,878) | (890,914) |
Income (loss) from equity-accounted investment | 2,753,167 | (703,605) |
Realized gain on available-for-sale security | 547,152 | 0 |
Other income | 6,785 | 11,186 |
OTHER INCOME (EXPENSES) | 2,796,797 | (1,577,723) |
LOSS BEFORE INCOME TAXES | (2,074,870) | (4,964,353) |
DEFERRED TAX BENEFIT | 1,044 | 816 |
NET LOSS FOR THE PERIOD | (2,073,826) | (4,963,537) |
OTHER COMPREHENSIVE INCOME | ||
Translation gain | 143,169 | 62,761 |
TOTAL OTHER COMPREHENSIVE INCOME | 143,169 | 62,761 |
TOTAL COMPREHENSIVE LOSS FOR THE PERIOD | $ (1,930,657) | $ (4,900,776) |
NET LOSS PER SHARE, BASIC AND DILUTED (in dollars per share) | $ (0.01) | $ (0.03) |
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING, BASIC AND DILUTED (in shares) | 246,859,322 | 189,955,499 |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) | 3 Months Ended | |
Oct. 31, 2021 | Oct. 31, 2020 | |
OPERATING ACTIVITIES | ||
Net loss for the period | $ (2,073,826) | $ (4,963,537) |
Adjustments to reconcile net loss to cash flows in operating activities | ||
Stock-based compensation | 1,380,660 | 1,378,515 |
Depreciation, amortization and accretion | 98,440 | 99,180 |
Amortization of long-term debt discount | 265,571 | 443,867 |
(Income) loss from equity-accounted investment | (2,753,167) | 703,605 |
Deferred tax benefits | (1,044) | (816) |
Realized gain on available-for-sale security | (547,152) | 0 |
Foreign exchange loss | 0 | 193 |
Changes in operating assets and liabilities | ||
Inventories | (7,044,940) | 0 |
Prepaid expenses and deposits | (576,928) | (78,730) |
Other current assets | (2,458) | 6,704 |
Accounts payable and accrued liabilities | (1,033,772) | (170,678) |
Other liabilities | 5,338 | 6,579 |
NET CASH USED IN OPERATING ACTIVITIES | (12,283,278) | (2,575,118) |
FINANCING ACTIVITIES | ||
Proceeds from share issuances, net of issuance costs | 63,965,230 | 14,130,965 |
Repayments of other loans | (46,963) | 0 |
NET CASH PROVIDED BY FINANCING ACTIVITIES | 63,918,267 | 14,130,965 |
INVESTING ACTIVITIES | ||
Investment in mineral rights and properties | (6,274) | 0 |
Purchase of property, plant and equipment | (7,513) | (2,903) |
Prepaid transaction costs | (177,010) | 0 |
Investment in term deposits | 0 | (10,000,000) |
Investment in available-for-sale security | (9,433,068) | 0 |
Proceeds from sale of available-for-sale security | 9,980,220 | 0 |
NET CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES | 356,355 | (10,002,903) |
NET CHANGE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH | 51,991,344 | 1,552,944 |
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, BEGINNING OF PERIOD | 46,350,457 | 6,986,919 |
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, END OF PERIOD | $ 98,341,801 | $ 8,539,863 |
Condensed Consolidated Statem_3
Condensed Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($) | 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, 2020 | 184,635,870 | |||||
Balance at Jul. 31, 2020 | $ 184,636 | $ 341,059,972 | $ 103,554 | $ (276,811,300) | $ (120,244) | $ 64,416,618 |
Issued upon exercise of stock options (in shares) | 13,532 | 13,532 | ||||
Issued upon exercise of stock options | $ 15 | 9,294 | $ 9,309 | |||
Common stock issued under Stock Incentive Plan (in shares) | 227,390 | |||||
Common stock issued under Stock Incentive Plan | $ 226 | 235,043 | 30,321 | 265,590 | ||
Amortization of stock-based compensation | 1,046,175 | 1,046,175 | ||||
Net loss for the period | (4,963,537) | (4,963,537) | ||||
Other comprehensive income (loss) | 62,761 | 62,761 | ||||
Issued for equity financing, net of issuance costs (in shares) | 12,500,000 | |||||
Issued for equity financing, net of issuance costs | $ 12,500 | 12,455,787 | 12,468,287 | |||
Issued for equity financing | 1,518,432 | 1,518,432 | ||||
Issued for equity financing as issuance costs | 134,937 | 134,937 | ||||
Balance (in shares) at Oct. 31, 2020 | 197,376,792 | |||||
Balance at Oct. 31, 2020 | $ 197,377 | 356,459,640 | 133,875 | (281,774,837) | (57,483) | 74,958,572 |
Balance (in shares) at Jul. 31, 2021 | 236,796,866 | |||||
Balance at Jul. 31, 2021 | $ 236,797 | 441,990,650 | 359,560 | (291,625,110) | 493,247 | 151,455,144 |
Issued under ATM offering, net of issuance costs (in shares) | 20,743,878 | |||||
Issued under ATM offering, net of issuance costs | $ 20,744 | 62,650,379 | $ 62,671,123 | |||
Issued upon exercise of stock options (in shares) | 753,990 | 753,990 | ||||
Issued upon exercise of stock options | $ 754 | 383,025 | $ 383,779 | |||
Issued upon exercise of warrants (in shares) | 491,849 | |||||
Issued upon exercise of warrants | $ 492 | 909,836 | 910,328 | |||
Issued for acquisition of mineral properties (in shares) | 64,149 | |||||
Issued for acquisition of mineral properties | $ 64 | 219,326 | 219,390 | |||
Common stock issued for consulting services (in shares) | 4,607 | |||||
Common stock issued for consulting services | $ 5 | 14,046 | 14,051 | |||
Common stock issued under Stock Incentive Plan (in shares) | 141,490 | |||||
Common stock issued under Stock Incentive Plan | $ 140 | 355,088 | 355,228 | |||
Amortization of stock-based compensation | 803,160 | 803,160 | ||||
Net loss for the period | (2,073,826) | (2,073,826) | ||||
Other comprehensive income (loss) | 143,169 | 143,169 | ||||
Balance (in shares) at Oct. 31, 2021 | 258,996,829 | |||||
Balance at Oct. 31, 2021 | $ 258,996 | $ 507,325,510 | $ 359,560 | $ (293,698,936) | $ 636,416 | $ 214,881,546 |
Note 1 - Nature of Operations
Note 1 - Nature of Operations | 3 Months Ended |
Oct. 31, 2021 | |
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. As at October 31, 2021, October 31, 2021, 12: Subsequent to October 31, 2021, “U1A” “U1A U1A U1A October 31, 2021, 12 3: October 31, 2021, January 31, 2022. U1A 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 Policies | 3 Months Ended |
Oct. 31, 2021 | |
Notes to Financial Statements | |
Business Description and Basis of Presentation [Text Block] | NOTE 2: SUMMARY OF SIGNIFICANT POLICIES Basis of Presentation The accompanying unaudited interim condensed consolidated financial statements have been prepared in accordance with United States (“U.S.”) generally accepted accounting principles (“U.S. GAAP”) for interim financial information and are presented in U.S. dollars. Accordingly, they do not 10 July 31, 2021 ( 2021” three October 31, 2021 not may July 31, 2022 ( 2022” Certain comparative figures have been reclassified to conform to the current year’s presentation. Exploration Stage We have established the existence of mineralized materials for certain uranium projects, including our Palangana Mine. We have not no November 2010, Since we commenced the 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 drilling 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 by the SEC, having established proven and probable reserves and exited the Exploration Stage, typically capitalize expenditures relating to ongoing development activities, with corresponding depletion calculated over proven and probable reserves using the units-of-production method and allocated to inventory and, as that inventory is sold, to cost of goods sold. We are in the Exploration Stage which has resulted in us reporting larger losses than if we had been in the Production Stage due to the expensing, rather than capitalizing, of expenditures relating to ongoing mine development activities. Additionally, there would be no may not |
Note 3 - Inventories
Note 3 - Inventories | 3 Months Ended |
Oct. 31, 2021 | |
Notes to Financial Statements | |
Inventory Disclosure [Text Block] | NOTE 3: INVENTORIES During the three October 31, 2021, As at October 31, 2021, October 31, 2021 July 31, 2021 Supplies and work-in-progress $ 33,781 $ 33,781 Uranium concentrates from production 177,881 177,881 Purchased uranium inventories 36,005,758 28,960,818 $ 36,217,420 $ 29,172,480 As of October 31, 2021, five Purchase Commitments in Pounds Total Purchase Price Fiscal 2022 700,000 $ 21,965,000 Fiscal 2023 1,205,000 39,409,000 Fiscal 2024 495,000 16,913,250 Fiscal 2025 400,000 14,130,000 Fiscal 2026 100,000 3,620,000 Total 2,900,000 $ 96,037,250 Subsequent to October 31, 2021, October 31, 2021, three January 31, 2022. |
Note 4 - Mineral Rights and Pro
Note 4 - Mineral Rights and Properties | 3 Months Ended |
Oct. 31, 2021 | |
Notes to Financial Statements | |
Mineral Industries Disclosures [Text Block] | NOTE 4: MINERAL RIGHTS AND PROPERTIES Mineral Rights As at October 31, 2021, October 31, 2021, As at October 31, 2021, October 31, 2021 July 31, 2021 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 899,854 899,854 Los Cuatros Project 257,250 257,250 Slick Rock Project 60,000 60,000 Reno Creek Project 31,527,870 31,527,870 Diabase Project 772,602 546,938 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 67,937,051 67,711,387 Accumulated Depletion (3,929,884 ) (3,929,884 ) 64,007,167 63,781,503 Databases and Land Use Agreements 2,458,808 2,458,808 Accumulated Amortization (2,456,683 ) (2,456,308 ) 2,125 2,500 $ 64,009,292 $ 63,784,003 We have not may not During the three October 31, 2021, In connection with the Diabase Addition, we paid total consideration of $225,664, which consisted of 64,149 shares with a fair value of $219,390 and transaction costs of $6,274. As a result of these claims being added to our existing Diabase Project, the carrying value of our Diabase Project increased to $772,602 from $546,938 as at July 31, 2021. During the three October 31, 2021 2020, no three October 31, 2021 2020. Mineral property expenditures incurred on our projects were as follows: Three Months Ended October 31, 2021 2020 Mineral Property Expenditures Palangana Mine $ 245,320 $ 198,802 Goliad Project 97,454 45,789 Burke Hollow Project 715,541 129,778 Longhorn Project 2,921 2,288 Salvo Project 5,696 8,192 Anderson Project 16,495 19,466 Workman Creek Project 8,587 8,198 Slick Rock Project 13,490 13,136 Reno Creek Project 199,819 100,490 Yuty Project 8,045 5,994 Oviedo Project 182,747 47,611 Alto Paraná Titanium Project 60,858 16,451 Other Mineral Property Expenditures 99,543 105,566 $ 1,656,516 $ 701,761 |
Note 5 - Property, Plant and Eq
Note 5 - Property, Plant and Equipment | 3 Months Ended |
Oct. 31, 2021 | |
Notes to Financial Statements | |
Property, Plant and Equipment Disclosure [Text Block] | NOTE 5: PROPERTY, PLANT AND EQUIPMENT Property, plant and equipment consist of the following: October 31, 2021 July 31, 2021 Cost Accumulated Depreciation Net Book Value Cost Accumulated Net Book Hobson Processing Facility $ 6,642,835 $ (870,360 ) $ 5,772,475 $ 6,642,835 $ (851,075 ) $ 5,791,760 Mining Equipment 2,357,917 (2,317,350 ) 40,567 2,355,341 (2,313,489 ) 41,852 Logging Equipment and Vehicles 1,923,983 (1,787,818 ) 136,165 1,923,983 (1,774,887 ) 149,096 Computer Equipment 330,993 (289,990 ) 41,003 326,056 (283,645 ) 42,411 Furniture and Fixtures 184,941 (173,141 ) 11,800 184,941 (172,302 ) 12,639 Buildings 297,518 (61,041 ) 236,477 297,518 (57,322 ) 240,196 Land 1,080,083 - 1,080,083 1,080,083 - 1,080,083 $ 12,818,270 $ (5,499,700 ) $ 7,318,570 $ 12,810,757 $ (5,452,720 ) $ 7,358,037 |
Note 6 - Restricted Cash
Note 6 - Restricted Cash | 3 Months Ended |
Oct. 31, 2021 | |
Notes to Financial Statements | |
Restricted Cash [Text Block] | NOTE 6: RESTRICTED CASH Restricted cash includes cash and cash equivalents and money market funds pledged as collateral for various bonds posted in favor of applicable state regulatory agencies in Arizona, Texas and Wyoming, and for estimated reclamation costs associated with our Anderson Project, Palangana Mine, Hobson Processing Facility and Reno Creek Project. Restricted cash will be released upon the completion of reclamation of a mineral property or the restructuring of a surety and collateral arrangement. As at October 31, 2021, October 31, 2021 July 31, 2021 Restricted cash, beginning of period $ 2,037,677 $ 1,839,216 Additional surety bond collateral - 198,377 Interest received - 84 Restricted cash, end of period $ 2,037,677 $ 2,037,677 Cash, cash equivalents and restricted cash are included in the following accounts as of October 31, 2021 2020: October 31, 2021 October 31, 2020 Cash and cash equivalents $ 96,304,124 $ 6,700,603 Restricted cash 2,037,677 1,839,260 Total cash, cash equivalents and restricted cash $ 98,341,801 $ 8,539,863 |
Note 7 - Equity-accounted Inves
Note 7 - Equity-accounted Investment | 3 Months Ended |
Oct. 31, 2021 | |
Notes to Financial Statements | |
Equity Method Investments and Joint Ventures Disclosure [Text Block] | NOTE 7: EQUITY-ACCOUNTED INVESTMENT As at October 31, 2021, July 31, 2021: two one three October 31, 2021. URC is a public company listed on the TSX Venture Exchange with the trading symbol “URC.V” and on NASDAQ with the trading symbol “UROY”. For the three October 31, 2021 2020, Three Months Ended October 31, 2021 2020 Share of income (loss) from URC $ 834,713 $ (703,605 ) Gain on dilution of ownership interest 1,918,454 - Total $ 2,753,167 $ (703,605 ) For the three October 31, 2021, For the three October 31, 2021 2020, During the three October 31, 2021, Balance, July 31, 2021 $ 20,729,674 Share of income from URC 834,713 Gain on dilution of ownership interest 1,918,454 Translation gain 143,169 Balance, October 31, 2021 $ 23,626,010 As at October 31, 2021, |
Note 8 - Related Party Transact
Note 8 - Related Party Transactions | 3 Months Ended |
Oct. 31, 2021 | |
Notes to Financial Statements | |
Related Party Transactions Disclosure [Text Block] | NOTE 8: RELATED PARTY TRANSACTIONS During the three October 31, 2021 2020, As at October 31, 2021, July 31, 2021: |
Note 9 - Long-term Debt
Note 9 - Long-term Debt | 3 Months Ended |
Oct. 31, 2021 | |
Credit Agreement [Member] | |
Notes to Financial Statements | |
Long-term Debt [Text Block] | NOTE 9: LONG-TERM DEBT As of October 31, 2021, October 31, 2021 July 31, 2021 Principal amount $ 10,000,000 $ 10,000,000 Unamortized discount and accrued fees 340,802 75,231 Long-term debt, net of unamortized discount $ 10,340,802 $ 10,075,231 During the three October 31, 2021 2020, three October 31, 2021 2020, The Company’s credit facility with our remaining Lender (the “Credit Facility”) has a maturity date of January 31, 2022, Subsequent to October 31, 2021, As of October 31, 2021, 50:1, not 1:1. |
Note 10 - Asset Retirement Obli
Note 10 - Asset Retirement Obligations | 3 Months Ended |
Oct. 31, 2021 | |
Notes to Financial Statements | |
Asset Retirement Obligation Disclosure [Text Block] | NOTE 10: ASSET RETIREMENT OBLIGATIONS Asset retirement obligations (“ARO”s) relate to future remediation and decommissioning activities at our Palangana Mine, Hobson Processing Facility, Reno Creek Project and Alto Paraná Titanium Project. Balance, July 31, 2021 $ 3,938,655 Accretion 51,085 Balance, October 31, 2021 $ 3,989,740 The estimated amounts and timing of cash flows and assumptions used for ARO estimates are as follows: October 31, 2021 July 31, 2021 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 2022 $ - Fiscal 2023 - Fiscal 2024 - Fiscal 2025 - Fiscal 2026 - Remaining balance 8,221,018 $ 8,221,018 |
Note 11 - Lease Liabilities
Note 11 - Lease Liabilities | 3 Months Ended |
Oct. 31, 2021 | |
Notes to Financial Statements | |
Lessee, Operating Leases [Text Block] | NOTE 11: LEASE LIABILITIES The Company primarily has operating leases for corporate offices and a processing facility with a remaining term of 0.4 to 17.6 years. The lease for the processing facility has an evergreen option that can continue for so long as it is in operation. During the three October 31, 2021 2020, Three Months Ended October 31, 2021 2020 Operating Leases $ 57,597 $ 54,461 Short-term Leases 338,421 22,642 Total Lease Expenses $ 396,018 $ 77,103 As at October 31, 2021, During the three October 31, 2021, Minimum future lease payments under operating leases with terms longer than one Fiscal 2022 $ 320,093 Fiscal 2023 20,000 Fiscal 2024 20,000 Fiscal 2025 20,000 Fiscal 2026 20,000 Thereafter 280,000 Total lease payments 680,093 Less: imputed interest (136,861 ) Present value of lease liabilities $ 543,232 Current portion of lease liabilities $ 301,481 Non-current portion of lease liabilities $ 241,751 Current lease liabilities are included in Other Current Liabilities, and non-current lease liabilities are included in Other Non-Current Liabilities in our condensed consolidated balance sheets. |
Note 12 - Capital Stock
Note 12 - Capital Stock | 3 Months Ended |
Oct. 31, 2021 | |
Notes to Financial Statements | |
Stockholders' Equity Note Disclosure [Text Block] | NOTE 12: CAPITAL STOCK Equity Financing On May 14, 2021, “May 2021 may, “May 2021 On November 26, 2021, 3 “2021 May 2021 may, “November 2021 May 2021 “2021 During the three October 31, 2021, May 2021 Subsequent to October 31, 2021, May 2021 November 2021 Share Purchase Warrants A continuity schedule of outstanding share purchase warrants for the three October 31, 2021, Number of Warrants Weighted Average Exercise Price Balance, July 31, 2021 5,387,323 $ 1.90 Exercised (491,849 ) 1.85 Balance, October 31, 2021 4,895,474 $ 1.91 During the three October 31, 2021, A summary of share purchase warrants outstanding and exercisable as of October 31, 2021, Weighted Average Exercise Price Number of Warrants Outstanding Weighted Average Remaining Contractual Life (Years) Expiry Date $ 2.30 221,546 0.77 August 9, 2022 1.80 4,467,110 0.90 September 23, 2022 1.64 25,000 1.55 May 21, 2023 4.13 181,818 4.43 April 5, 2026 $ 1.91 4,895,474 1.02 Stock Options As of October 31, 2021, one 2021 2020 A continuity schedule of outstanding stock options for the underlying shares for the three October 31, 2021, Number of Stock Options Weighted Average Exercise Price Balance, July 31, 2021 10,404,333 $ 1.21 Granted 10,000 2.89 Exercised (1,030,543 ) 1.18 Expired (60,000 ) 2.78 Balance, October 31, 2021 9,323,790 $ 1.20 During the three October 31, 2021 2020, Three Months Ended October 31, 2021 2020 Number of Options Exercised on Cash Basis 344,998 10,000 Number of Options Exercised on Forfeiture Basis 685,545 18,500 Total Number of Options Exercised 1,030,543 28,500 Number of Shares Issued on Cash Exercise 344,998 10,000 Number of Shares Issued on Forfeiture Basis 408,992 3,532 Total Number of Shares Issued Upon Exercise of Options 753,990 13,532 Cash Received from Exercise of Stock Options $ 383,779 $ 9,309 Total Intrinsic Value of Options Exercised $ 1,905,216 $ 6,678 A continuity schedule of outstanding unvested stock options as of October 31, 2021, Number of Unvested Stock Options Weighted Average Grant-Date Fair Value Balance, July 31, 2021 3,891,207 $ 0.66 Granted 10,000 1.73 Vested (265,427 ) 0.87 Balance, October 31, 2021 3,635,780 $ 0.64 As of October 31, 2021, As of October 31, 2021, 718 A summary of stock options outstanding and exercisable as of October 31, 2021, Options Outstanding Options Exercisable Range of Exercise Prices Outstanding at October 31, 2021 Weighted Average Exercise Price Weighted Average Remaining Contractual Term (Years) Exercisable at October 31, 2021 Weighted Average Exercise Price Weighted Average Remaining Contractual Term (Years) $0.80 to $0.99 4,859,185 $ 0.92 8.31 2,951,060 $ 0.92 8.05 $1.00 to $1.49 2,168,875 1.17 5.70 1,285,541 1.23 3.63 $1.50 to $2.89 2,295,730 1.82 5.09 1,451,409 1.59 2.40 9,323,790 $ 1.20 6.91 5,688,010 $ 1.16 5.61 Restricted Stock Units A summary of outstanding and unvested restricted stock units (“RSU”s) as of October 31, 2021, Grant Date Number of Restricted Stock Units Grant Date Fair Value Remaining Life (Years) Aggregate Intrinsic Value July 30, 2019 154,999 $ 0.94 0.75 $ 576,596 July 16, 2020 434,996 0.91 1.71 1,618,185 July 21, 2021 407,617 2.15 2.72 1,516,335 997,612 $ 1.42 1.97 $ 3,711,116 During the three October 31, 2021 2020, October 31, 2021, July 31, 2021: Performance Based Restricted Stock Units During the three October 31, 2021 2020, October 31, 2021, July 31, 2021: Stock-Based Compensation A summary of stock-based compensation expense is as follows: Three Months Ended October 31, 2021 2020 Stock-Based Compensation for Consultants Common stock issued to consultants $ 304,587 $ 119,470 Amortization of stock option expenses 79,773 103,928 384,360 223,398 Stock-Based Compensation for Management Amortization of stock option expenses 165,549 253,731 Amortization of RSU and PRSU expenses 262,241 309,378 427,790 563,109 Stock-Based Compensation for Employees Common stock issued to employees 272,913 212,870 Amortization of stock option expenses 295,597 379,138 568,510 592,008 $ 1,380,660 $ 1,378,515 |
Note 13 - Loss Per Share
Note 13 - Loss Per Share | 3 Months Ended |
Oct. 31, 2021 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | NOTE 13: LOSS PER SHARE The following table reconciles the weighted average number of shares used in the calculation of the basic and diluted loss per share: Three Months Ended October 31, 2021 2020 Numerator Net Loss for the Period $ (2,073,826 ) $ (4,963,537 ) Denominator Basic Weighted Average Number of Shares 246,859,322 189,955,499 Dilutive Stock Options, RSUs, PRSUs and Warrants - - Diluted Weighted Average Number of Shares 246,859,322 189,955,499 Net Loss per Share, Basic and Diluted $ (0.01 ) $ (0.03 ) For the three October 31, 2021 2020, |
Note 14 - Segmented Information
Note 14 - Segmented Information | 3 Months Ended |
Oct. 31, 2021 | |
Notes to Financial Statements | |
Segment Reporting Disclosure [Text Block] | NOTE 14: SEGMENTED INFORMATION We currently operate in one reportable segment which is focused on uranium mining and related activities, including exploration, pre-extraction, extraction and processing of uranium concentrates. As of October 31, 2021, The tables below provide a breakdown of the long-term assets by geographic segments: October 31, 2021 Balance Sheet Items United States Texas Arizona Wyoming Other States Canada Paraguay Total Mineral Rights and Properties $ 12,420,786 $ 4,627,477 $ 31,527,870 $ 146,971 $ 772,602 $ 14,513,586 $ 64,009,292 Property, Plant and Equipment 6,609,746 - 309,044 - 32,284 367,496 7,318,570 Restricted Cash 1,948,704 15,000 73,973 - - - 2,037,677 Equity-Accounted Investment - - - - 23,626,010 - 23,626,010 Other Non-Current Assets 1,255,297 - 14,500 - 30,251 - 1,300,048 Total Long-Term Assets $ 22,234,533 $ 4,642,477 $ 31,925,387 $ 146,971 $ 24,461,147 $ 14,881,082 $ 98,291,597 July 31, 2021 Balance Sheet Items United States Texas Arizona Wyoming Other States Canada Paraguay Total Mineral Rights and Properties $ 12,421,161 $ 4,627,477 $ 31,527,870 $ 146,971 $ 546,938 $ 14,513,586 $ 63,784,003 Property, Plant and Equipment 6,645,905 - 312,763 - 34,036 365,333 7,358,037 Restricted Cash 1,948,704 15,000 73,973 - - - 2,037,677 Equity-Accounted Investment - - - - 20,729,674 - 20,729,674 Other Non-Current Assets 522,306 - 16,000 - 48,026 - 586,332 Total Long-Term Assets $ 21,538,076 $ 4,642,477 $ 31,930,606 $ 146,971 $ 21,358,674 $ 14,878,919 $ 94,495,723 The tables below provide a breakdown of our operating results by geographic segments for the three October 31, 2021 2020. Three months ended October 31, 2021 Statement of Operations United States Texas Arizona Wyoming Other States Canada Paraguay Total Costs and Expenses: Mineral property expenditures $ 1,152,077 $ 29,575 $ 199,819 $ 20,424 $ 2,971 $ 251,650 $ 1,656,516 General and administrative 2,601,809 3,720 21,395 345 479,752 9,690 3,116,711 Depreciation, amortization and accretion 89,600 - 3,719 - 3,698 1,423 98,440 Loss from operations (3,843,486 ) (33,295 ) (224,933 ) (20,769 ) (486,421 ) (262,763 ) (4,871,667 ) Other income (expenses) 26,829 (4,767 ) 200 - 2,773,732 803 2,796,797 Loss before income taxes $ (3,816,657 ) $ (38,062 ) $ (224,733 ) $ (20,769 ) $ 2,287,311 $ (261,960 ) $ (2,074,870 ) Three months ended October 31, 2020 Statement of Operations United States Texas Arizona Wyoming Other States Canada Paraguay Total Costs and Expenses: Mineral property expenditures $ 477,330 $ 31,024 $ 100,490 $ 20,069 $ 2,792 $ 70,056 $ 701,761 General and administrative 2,167,359 3,720 17,470 373 385,208 11,559 2,585,689 Depreciation, amortization and accretion 89,372 - 3,719 - 4,308 1,781 99,180 Loss from operations (2,734,061 ) (34,744 ) (121,679 ) (20,442 ) (392,308 ) (83,396 ) (3,386,630 ) Other income (expenses) (880,214 ) (4,767 ) 200 - (697,995 ) 5,053 (1,577,723 ) Loss before income taxes $ (3,614,275 ) $ (39,511 ) $ (121,479 ) $ (20,442 ) $ (1,090,303 ) $ (78,343 ) $ (4,964,353 ) |
Note 15 - Subsequent Event
Note 15 - Subsequent Event | 3 Months Ended |
Oct. 31, 2021 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | NOTE 15: SUBSEQUENT EVENT Subsequent to October 31, 2021, U1A U1A U1A |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 3 Months Ended |
Oct. 31, 2021 | |
Accounting Policies [Abstract] | |
Basis of Accounting, Policy [Policy Text Block] | Basis of Presentation The accompanying unaudited interim condensed consolidated financial statements have been prepared in accordance with United States (“U.S.”) generally accepted accounting principles (“U.S. GAAP”) for interim financial information and are presented in U.S. dollars. Accordingly, they do not 10 July 31, 2021 ( 2021” three October 31, 2021 not may July 31, 2022 ( 2022” Certain comparative figures have been reclassified to conform to the current year’s presentation. |
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 our Palangana Mine. We have not no November 2010, Since we commenced the 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 drilling 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 by the SEC, having established proven and probable reserves and exited the Exploration Stage, typically capitalize expenditures relating to ongoing development activities, with corresponding depletion calculated over proven and probable reserves using the units-of-production method and allocated to inventory and, as that inventory is sold, to cost of goods sold. We are in the Exploration Stage which has resulted in us reporting larger losses than if we had been in the Production Stage due to the expensing, rather than capitalizing, of expenditures relating to ongoing mine development activities. Additionally, there would be no may not |
Note 3 - Inventories (Tables)
Note 3 - Inventories (Tables) | 3 Months Ended |
Oct. 31, 2021 | |
Notes Tables | |
Schedule of Inventory, Current [Table Text Block] | October 31, 2021 July 31, 2021 Supplies and work-in-progress $ 33,781 $ 33,781 Uranium concentrates from production 177,881 177,881 Purchased uranium inventories 36,005,758 28,960,818 $ 36,217,420 $ 29,172,480 |
Contractual Obligation, Fiscal Year Maturity [Table Text Block] | Purchase Commitments in Pounds Total Purchase Price Fiscal 2022 700,000 $ 21,965,000 Fiscal 2023 1,205,000 39,409,000 Fiscal 2024 495,000 16,913,250 Fiscal 2025 400,000 14,130,000 Fiscal 2026 100,000 3,620,000 Total 2,900,000 $ 96,037,250 |
Note 4 - Mineral Rights and P_2
Note 4 - Mineral Rights and Properties (Tables) | 3 Months Ended |
Oct. 31, 2021 | |
Notes Tables | |
Schedule Of Mineral Rights and Property Acquisition Costs [Table Text Block] | October 31, 2021 July 31, 2021 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 899,854 899,854 Los Cuatros Project 257,250 257,250 Slick Rock Project 60,000 60,000 Reno Creek Project 31,527,870 31,527,870 Diabase Project 772,602 546,938 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 67,937,051 67,711,387 Accumulated Depletion (3,929,884 ) (3,929,884 ) 64,007,167 63,781,503 Databases and Land Use Agreements 2,458,808 2,458,808 Accumulated Amortization (2,456,683 ) (2,456,308 ) 2,125 2,500 $ 64,009,292 $ 63,784,003 |
Schedule Of Mineral Property Expenditures Incurred by Major Projects [Table Text Block] | Three Months Ended October 31, 2021 2020 Mineral Property Expenditures Palangana Mine $ 245,320 $ 198,802 Goliad Project 97,454 45,789 Burke Hollow Project 715,541 129,778 Longhorn Project 2,921 2,288 Salvo Project 5,696 8,192 Anderson Project 16,495 19,466 Workman Creek Project 8,587 8,198 Slick Rock Project 13,490 13,136 Reno Creek Project 199,819 100,490 Yuty Project 8,045 5,994 Oviedo Project 182,747 47,611 Alto Paraná Titanium Project 60,858 16,451 Other Mineral Property Expenditures 99,543 105,566 $ 1,656,516 $ 701,761 |
Note 5 - Property, Plant and _2
Note 5 - Property, Plant and Equipment (Tables) | 3 Months Ended |
Oct. 31, 2021 | |
Notes Tables | |
Property, Plant and Equipment [Table Text Block] | October 31, 2021 July 31, 2021 Cost Accumulated Depreciation Net Book Value Cost Accumulated Net Book Hobson Processing Facility $ 6,642,835 $ (870,360 ) $ 5,772,475 $ 6,642,835 $ (851,075 ) $ 5,791,760 Mining Equipment 2,357,917 (2,317,350 ) 40,567 2,355,341 (2,313,489 ) 41,852 Logging Equipment and Vehicles 1,923,983 (1,787,818 ) 136,165 1,923,983 (1,774,887 ) 149,096 Computer Equipment 330,993 (289,990 ) 41,003 326,056 (283,645 ) 42,411 Furniture and Fixtures 184,941 (173,141 ) 11,800 184,941 (172,302 ) 12,639 Buildings 297,518 (61,041 ) 236,477 297,518 (57,322 ) 240,196 Land 1,080,083 - 1,080,083 1,080,083 - 1,080,083 $ 12,818,270 $ (5,499,700 ) $ 7,318,570 $ 12,810,757 $ (5,452,720 ) $ 7,358,037 |
Note 6 - Restricted Cash (Table
Note 6 - Restricted Cash (Tables) | 3 Months Ended |
Oct. 31, 2021 | |
Notes Tables | |
Restrictions on Cash and Cash Equivalents [Table Text Block] | October 31, 2021 July 31, 2021 Restricted cash, beginning of period $ 2,037,677 $ 1,839,216 Additional surety bond collateral - 198,377 Interest received - 84 Restricted cash, end of period $ 2,037,677 $ 2,037,677 |
Schedule of Cash and Cash Equivalents and Restricted Cash [Table Text Block] | October 31, 2021 October 31, 2020 Cash and cash equivalents $ 96,304,124 $ 6,700,603 Restricted cash 2,037,677 1,839,260 Total cash, cash equivalents and restricted cash $ 98,341,801 $ 8,539,863 |
Note 7 - Equity-accounted Inv_2
Note 7 - Equity-accounted Investment (Tables) | 3 Months Ended |
Oct. 31, 2021 | |
Notes Tables | |
Equity Method Investments [Table Text Block] | Three Months Ended October 31, 2021 2020 Share of income (loss) from URC $ 834,713 $ (703,605 ) Gain on dilution of ownership interest 1,918,454 - Total $ 2,753,167 $ (703,605 ) Balance, July 31, 2021 $ 20,729,674 Share of income from URC 834,713 Gain on dilution of ownership interest 1,918,454 Translation gain 143,169 Balance, October 31, 2021 $ 23,626,010 |
Note 9 - Long-term Debt (Tables
Note 9 - Long-term Debt (Tables) | 3 Months Ended |
Oct. 31, 2021 | |
Credit Agreement [Member] | |
Notes Tables | |
Schedule of Long-term Debt Instruments [Table Text Block] | October 31, 2021 July 31, 2021 Principal amount $ 10,000,000 $ 10,000,000 Unamortized discount and accrued fees 340,802 75,231 Long-term debt, net of unamortized discount $ 10,340,802 $ 10,075,231 |
Note 10 - Asset Retirement Ob_2
Note 10 - Asset Retirement Obligations (Tables) | 3 Months Ended |
Oct. 31, 2021 | |
Notes Tables | |
Schedule of Change in Asset Retirement Obligation [Table Text Block] | Balance, July 31, 2021 $ 3,938,655 Accretion 51,085 Balance, October 31, 2021 $ 3,989,740 |
Schedule Of Estimated Cash flow and Assumption Used For ARO [Table Text Block] | October 31, 2021 July 31, 2021 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 2022 $ - Fiscal 2023 - Fiscal 2024 - Fiscal 2025 - Fiscal 2026 - Remaining balance 8,221,018 $ 8,221,018 |
Note 11 - Lease Liabilities (Ta
Note 11 - Lease Liabilities (Tables) | 3 Months Ended |
Oct. 31, 2021 | |
Notes Tables | |
Lease, Cost [Table Text Block] | Three Months Ended October 31, 2021 2020 Operating Leases $ 57,597 $ 54,461 Short-term Leases 338,421 22,642 Total Lease Expenses $ 396,018 $ 77,103 |
Lessee, Operating Lease, Liability, Maturity [Table Text Block] | Fiscal 2022 $ 320,093 Fiscal 2023 20,000 Fiscal 2024 20,000 Fiscal 2025 20,000 Fiscal 2026 20,000 Thereafter 280,000 Total lease payments 680,093 Less: imputed interest (136,861 ) Present value of lease liabilities $ 543,232 Current portion of lease liabilities $ 301,481 Non-current portion of lease liabilities $ 241,751 |
Note 12 - Capital Stock (Tables
Note 12 - Capital Stock (Tables) | 3 Months Ended |
Oct. 31, 2021 | |
Notes Tables | |
Schedule Of Share based Compensation Warrants Activity [Table Text Block] | Number of Warrants Weighted Average Exercise Price Balance, July 31, 2021 5,387,323 $ 1.90 Exercised (491,849 ) 1.85 Balance, October 31, 2021 4,895,474 $ 1.91 |
Schedule of Stockholders' Equity Note, Warrants or Rights [Table Text Block] | Weighted Average Exercise Price Number of Warrants Outstanding Weighted Average Remaining Contractual Life (Years) Expiry Date $ 2.30 221,546 0.77 August 9, 2022 1.80 4,467,110 0.90 September 23, 2022 1.64 25,000 1.55 May 21, 2023 4.13 181,818 4.43 April 5, 2026 $ 1.91 4,895,474 1.02 |
Share-based Payment Arrangement, Option, Activity [Table Text Block] | Number of Stock Options Weighted Average Exercise Price Balance, July 31, 2021 10,404,333 $ 1.21 Granted 10,000 2.89 Exercised (1,030,543 ) 1.18 Expired (60,000 ) 2.78 Balance, October 31, 2021 9,323,790 $ 1.20 |
Cash Proceeds Received and Tax Benefit from Share-based Payment Awards [Table Text Block] | Three Months Ended October 31, 2021 2020 Number of Options Exercised on Cash Basis 344,998 10,000 Number of Options Exercised on Forfeiture Basis 685,545 18,500 Total Number of Options Exercised 1,030,543 28,500 Number of Shares Issued on Cash Exercise 344,998 10,000 Number of Shares Issued on Forfeiture Basis 408,992 3,532 Total Number of Shares Issued Upon Exercise of Options 753,990 13,532 Cash Received from Exercise of Stock Options $ 383,779 $ 9,309 Total Intrinsic Value of Options Exercised $ 1,905,216 $ 6,678 |
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, 2021 3,891,207 $ 0.66 Granted 10,000 1.73 Vested (265,427 ) 0.87 Balance, October 31, 2021 3,635,780 $ 0.64 |
Share-based Payment Arrangement, Option, Exercise Price Range [Table Text Block] | Options Outstanding Options Exercisable Range of Exercise Prices Outstanding at October 31, 2021 Weighted Average Exercise Price Weighted Average Remaining Contractual Term (Years) Exercisable at October 31, 2021 Weighted Average Exercise Price Weighted Average Remaining Contractual Term (Years) $0.80 to $0.99 4,859,185 $ 0.92 8.31 2,951,060 $ 0.92 8.05 $1.00 to $1.49 2,168,875 1.17 5.70 1,285,541 1.23 3.63 $1.50 to $2.89 2,295,730 1.82 5.09 1,451,409 1.59 2.40 9,323,790 $ 1.20 6.91 5,688,010 $ 1.16 5.61 |
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 154,999 $ 0.94 0.75 $ 576,596 July 16, 2020 434,996 0.91 1.71 1,618,185 July 21, 2021 407,617 2.15 2.72 1,516,335 997,612 $ 1.42 1.97 $ 3,711,116 |
Share-based Payment Arrangement, Cost by Plan [Table Text Block] | Three Months Ended October 31, 2021 2020 Stock-Based Compensation for Consultants Common stock issued to consultants $ 304,587 $ 119,470 Amortization of stock option expenses 79,773 103,928 384,360 223,398 Stock-Based Compensation for Management Amortization of stock option expenses 165,549 253,731 Amortization of RSU and PRSU expenses 262,241 309,378 427,790 563,109 Stock-Based Compensation for Employees Common stock issued to employees 272,913 212,870 Amortization of stock option expenses 295,597 379,138 568,510 592,008 $ 1,380,660 $ 1,378,515 |
Note 13 - Loss Per Share (Table
Note 13 - Loss Per Share (Tables) | 3 Months Ended |
Oct. 31, 2021 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Three Months Ended October 31, 2021 2020 Numerator Net Loss for the Period $ (2,073,826 ) $ (4,963,537 ) Denominator Basic Weighted Average Number of Shares 246,859,322 189,955,499 Dilutive Stock Options, RSUs, PRSUs and Warrants - - Diluted Weighted Average Number of Shares 246,859,322 189,955,499 Net Loss per Share, Basic and Diluted $ (0.01 ) $ (0.03 ) |
Note 14 - Segmented Informati_2
Note 14 - Segmented Information (Tables) | 3 Months Ended |
Oct. 31, 2021 | |
Notes Tables | |
Long-lived Assets by Geographic Areas [Table Text Block] | October 31, 2021 Balance Sheet Items United States Texas Arizona Wyoming Other States Canada Paraguay Total Mineral Rights and Properties $ 12,420,786 $ 4,627,477 $ 31,527,870 $ 146,971 $ 772,602 $ 14,513,586 $ 64,009,292 Property, Plant and Equipment 6,609,746 - 309,044 - 32,284 367,496 7,318,570 Restricted Cash 1,948,704 15,000 73,973 - - - 2,037,677 Equity-Accounted Investment - - - - 23,626,010 - 23,626,010 Other Non-Current Assets 1,255,297 - 14,500 - 30,251 - 1,300,048 Total Long-Term Assets $ 22,234,533 $ 4,642,477 $ 31,925,387 $ 146,971 $ 24,461,147 $ 14,881,082 $ 98,291,597 July 31, 2021 Balance Sheet Items United States Texas Arizona Wyoming Other States Canada Paraguay Total Mineral Rights and Properties $ 12,421,161 $ 4,627,477 $ 31,527,870 $ 146,971 $ 546,938 $ 14,513,586 $ 63,784,003 Property, Plant and Equipment 6,645,905 - 312,763 - 34,036 365,333 7,358,037 Restricted Cash 1,948,704 15,000 73,973 - - - 2,037,677 Equity-Accounted Investment - - - - 20,729,674 - 20,729,674 Other Non-Current Assets 522,306 - 16,000 - 48,026 - 586,332 Total Long-Term Assets $ 21,538,076 $ 4,642,477 $ 31,930,606 $ 146,971 $ 21,358,674 $ 14,878,919 $ 94,495,723 |
Operating Results by Geographic Areas [Table Text Block] | Three months ended October 31, 2021 Statement of Operations United States Texas Arizona Wyoming Other States Canada Paraguay Total Costs and Expenses: Mineral property expenditures $ 1,152,077 $ 29,575 $ 199,819 $ 20,424 $ 2,971 $ 251,650 $ 1,656,516 General and administrative 2,601,809 3,720 21,395 345 479,752 9,690 3,116,711 Depreciation, amortization and accretion 89,600 - 3,719 - 3,698 1,423 98,440 Loss from operations (3,843,486 ) (33,295 ) (224,933 ) (20,769 ) (486,421 ) (262,763 ) (4,871,667 ) Other income (expenses) 26,829 (4,767 ) 200 - 2,773,732 803 2,796,797 Loss before income taxes $ (3,816,657 ) $ (38,062 ) $ (224,733 ) $ (20,769 ) $ 2,287,311 $ (261,960 ) $ (2,074,870 ) Three months ended October 31, 2020 Statement of Operations United States Texas Arizona Wyoming Other States Canada Paraguay Total Costs and Expenses: Mineral property expenditures $ 477,330 $ 31,024 $ 100,490 $ 20,069 $ 2,792 $ 70,056 $ 701,761 General and administrative 2,167,359 3,720 17,470 373 385,208 11,559 2,585,689 Depreciation, amortization and accretion 89,372 - 3,719 - 4,308 1,781 99,180 Loss from operations (2,734,061 ) (34,744 ) (121,679 ) (20,442 ) (392,308 ) (83,396 ) (3,386,630 ) Other income (expenses) (880,214 ) (4,767 ) 200 - (697,995 ) 5,053 (1,577,723 ) Loss before income taxes $ (3,614,275 ) $ (39,511 ) $ (121,479 ) $ (20,442 ) $ (1,090,303 ) $ (78,343 ) $ (4,964,353 ) |
Note 1 - Nature of Operations (
Note 1 - Nature of Operations (Details Textual) | Dec. 14, 2021USD ($)lb | Jan. 31, 2022USD ($) | Oct. 31, 2021USD ($) | Jul. 31, 2021USD ($) | Oct. 31, 2020USD ($) |
Working Capital | $ 121,400,000 | ||||
Cash and Cash Equivalents, at Carrying Value, Ending Balance | 96,304,124 | $ 44,312,780 | $ 6,700,603 | ||
Inventory, Net, Total | 36,217,420 | $ 29,172,480 | |||
Long-Term Debt, Maturity, Year One | 10,000,000 | ||||
Uranium Inventory [Member] | |||||
Purchase Obligation, Total | $ 96,037,250 | ||||
Uranium Inventory [Member] | Forecast [Member] | |||||
Revenues, Total | $ 13,146,000 | ||||
Subsequent Event [Member] | Uranium One Americas, Inc [Member] | |||||
Business Combination, Contingent Consideration, Asset, Total | $ 125,400,000 | ||||
Business Combination, Cash Consideration | 111,600,000 | ||||
Business Combination, Consideration Transferred, Liabilities Incurred | $ 13,800,000 | ||||
Subsequent Event [Member] | Uranium Inventory [Member] | |||||
Inventory, Sold During Period, Mass (Pound) | lb | 300,000 | ||||
Recorded Unconditional Purchase Obligation, Due in Next Rolling Twelve Months | $ 28,800,000 | ||||
Subsequent Event [Member] | The 2021 At-the-market Offerings [Member] | |||||
Proceeds from Issuance of Common Stock, Net | $ 31,500,000 |
Note 3 - Inventories (Details T
Note 3 - Inventories (Details Textual) | Dec. 14, 2021USD ($)lb | Jan. 31, 2022USD ($) | Oct. 31, 2021USD ($)lb | Oct. 31, 2020USD ($) |
Increase (Decrease) in Inventories, Total | $ | $ 7,044,940 | $ 0 | ||
Uranium Inventory [Member] | ||||
Increase in Purchase Obligations, Mass (Pound) | 400,000 | |||
Inventory, Increase from Purchases, Mass (Pound) | 200,000 | |||
Uranium Inventory [Member] | Forecast [Member] | ||||
Revenues, Total | $ | $ 13,146,000 | |||
Uranium Inventory [Member] | Subsequent Event [Member] | ||||
Inventory, Increase from Purchases, Mass (Pound) | 400,000 | |||
Increase (Decrease) in Inventories, Total | $ | $ 12,885,000 | |||
Inventory, Sold During Period, Mass (Pound) | 300,000 |
Note 3 - Inventories - Costs of
Note 3 - Inventories - Costs of Inventories (Details) - USD ($) | Oct. 31, 2021 | Jul. 31, 2021 |
Supplies and work-in-progress | $ 33,781 | $ 33,781 |
Inventory, Net, Total | 36,217,420 | 29,172,480 |
Uranium Inventory [Member] | ||
Uranium concentrates from production | 177,881 | 177,881 |
Purchased uranium inventories | $ 36,005,758 | $ 28,960,818 |
Note 3 - Inventories - Uranium
Note 3 - Inventories - Uranium Inventory Purchase Commitments (Details) - Uranium Inventory [Member] | Oct. 31, 2021USD ($)lb |
Fiscal 2022 (Pound) | lb | 700,000 |
Fiscal 2022 | $ | $ 21,965,000 |
Fiscal 2023 (Pound) | lb | 1,205,000 |
Fiscal 2023 | $ | $ 39,409,000 |
Fiscal 2024 (Pound) | lb | 495,000 |
Fiscal 2024 | $ | $ 16,913,250 |
Fiscal 2025 (Pound) | lb | 400,000 |
Fiscal 2025 | $ | $ 14,130,000 |
Fiscal 2026 (Pound) | lb | 100,000 |
Fiscal 2026 | $ | $ 3,620,000 |
Total, mass (Pound) | lb | 2,900,000 |
Total | $ | $ 96,037,250 |
Note 4 - Mineral Rights and P_3
Note 4 - Mineral Rights and Properties (Details Textual) | 3 Months Ended | ||
Oct. 31, 2021USD ($)ashares | Oct. 31, 2020USD ($) | Jul. 31, 2021USD ($) | |
Annual Property Maintenance Fees | $ 2,700,000 | ||
Stock Issued During Period, Value, for Mineral Properties | 219,390 | ||
Payments to Acquire Mineral Rights | 6,274 | $ 0 | |
Mineral Properties, Gross | $ 67,937,051 | $ 67,711,387 | |
Diabase Project Addition [Member] | |||
Number of Mineral Claims | 9 | ||
Area of Land (Acre) | a | 10,050 | ||
Net Consideration, Mineral Resources | $ 225,664 | ||
Stock Issued During Period, Shares, for Mineral Properties (in shares) | shares | 64,149 | ||
Stock Issued During Period, Value, for Mineral Properties | $ 219,390 | ||
Payments to Acquire Mineral Rights | 6,274 | ||
Diabase Project [Member] | |||
Mineral Properties, Gross | 772,602 | 546,938 | |
Palangana Mine [Member] | |||
Mineral Properties, Gross | 6,027,784 | $ 6,027,784 | |
Depletion, Total | $ 0 | $ 0 |
Note 4 - Mineral Rights and P_4
Note 4 - Mineral Rights and Properties - Mineral Rights and Property Acquisition Costs (Details) - USD ($) | Oct. 31, 2021 | Jul. 31, 2021 |
Mineral Properties, Gross | $ 67,937,051 | $ 67,711,387 |
Accumulated Depletion | (3,929,884) | (3,929,884) |
Mineral Properties Excluding Mineral Rights, Net | 64,007,167 | 63,781,503 |
Mineral Properties, Net, Total | 64,009,292 | 63,784,003 |
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 |
Workman Creek Project [Member] | ||
Mineral Properties, Gross | 899,854 | 899,854 |
Los Cuatros Project [Member] | ||
Mineral Properties, Gross | 257,250 | 257,250 |
Slick Rock Project [Member] | ||
Mineral Properties, Gross | 60,000 | 60,000 |
Reno Creek Project [Member] | ||
Mineral Properties, Gross | 31,527,870 | 31,527,870 |
Diabase Project [Member] | ||
Mineral Properties, Gross | 772,602 | 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 |
Databases and Land Use Agreements [Member] | ||
Databases and Land Use Agreements | 2,458,808 | 2,458,808 |
Accumulated Amortization | (2,456,683) | (2,456,308) |
Mineral Rights | 2,125 | 2,500 |
Mineral Rights and Properties [Member] | ||
Mineral Properties, Net, Total | $ 64,009,292 | $ 63,784,003 |
Note 4 - Mineral Rights and P_5
Note 4 - Mineral Rights and Properties - Mineral Property Expenditures (Details) - USD ($) | 3 Months Ended | |
Oct. 31, 2021 | Oct. 31, 2020 | |
Mineral Property Expenditures | $ 1,656,516 | $ 701,761 |
Palangana Mine [Member] | ||
Mineral Property Expenditures | 245,320 | 198,802 |
Goliad Project [Member] | ||
Mineral Property Expenditures | 97,454 | 45,789 |
Burke Hollow Project [Member] | ||
Mineral Property Expenditures | 715,541 | 129,778 |
Longhorn Project [Member] | ||
Mineral Property Expenditures | 2,921 | 2,288 |
Salvo Project [Member] | ||
Mineral Property Expenditures | 5,696 | 8,192 |
Anderson Project [Member] | ||
Mineral Property Expenditures | 16,495 | 19,466 |
Workman Creek Project [Member] | ||
Mineral Property Expenditures | 8,587 | 8,198 |
Slick Rock Project [Member] | ||
Mineral Property Expenditures | 13,490 | 13,136 |
Reno Creek Project [Member] | ||
Mineral Property Expenditures | 199,819 | 100,490 |
Yuty Project [Member] | ||
Mineral Property Expenditures | 8,045 | 5,994 |
Oviedo Project [Member] | ||
Mineral Property Expenditures | 182,747 | 47,611 |
Alto Parana Titanium Project [Member] | ||
Mineral Property Expenditures | 60,858 | 16,451 |
Other Property Acquisitions [Member] | ||
Mineral Property Expenditures | $ 99,543 | $ 105,566 |
Note 5 - Property, Plant and _3
Note 5 - Property, Plant and Equipment - Summary of Property, Plant and Equipment (Details) - USD ($) | Oct. 31, 2021 | Jul. 31, 2021 |
Cost | $ 12,818,270 | $ 12,810,757 |
Accumulated Depreciation | (5,499,700) | (5,452,720) |
Net Book Value | 7,318,570 | 7,358,037 |
Hobson Processing Facility [Member] | ||
Cost | 6,642,835 | 6,642,835 |
Accumulated Depreciation | (870,360) | (851,075) |
Net Book Value | 5,772,475 | 5,791,760 |
Mining Equipment [Member] | ||
Cost | 2,357,917 | 2,355,341 |
Accumulated Depreciation | (2,317,350) | (2,313,489) |
Net Book Value | 40,567 | 41,852 |
Logging Equipment and Vehicles [Member] | ||
Cost | 1,923,983 | 1,923,983 |
Accumulated Depreciation | (1,787,818) | (1,774,887) |
Net Book Value | 136,165 | 149,096 |
Computer Equipment [Member] | ||
Cost | 330,993 | 326,056 |
Accumulated Depreciation | (289,990) | (283,645) |
Net Book Value | 41,003 | 42,411 |
Furniture and Fixtures [Member] | ||
Cost | 184,941 | 184,941 |
Accumulated Depreciation | (173,141) | (172,302) |
Net Book Value | 11,800 | 12,639 |
Buildings [Member] | ||
Cost | 297,518 | 297,518 |
Accumulated Depreciation | (61,041) | (57,322) |
Net Book Value | 236,477 | 240,196 |
Land [Member] | ||
Cost | 1,080,083 | 1,080,083 |
Accumulated Depreciation | 0 | 0 |
Net Book Value | $ 1,080,083 | $ 1,080,083 |
Note 6 - Restricted Cash - Rest
Note 6 - Restricted Cash - Restricted Cash (Details) - USD ($) | 3 Months Ended | 12 Months Ended |
Oct. 31, 2021 | Jul. 31, 2021 | |
Restricted cash, beginning of period | $ 2,037,677 | $ 1,839,216 |
Additional surety bond collateral | 0 | 198,377 |
Interest received | 0 | 84 |
Restricted cash, end of period | $ 2,037,677 | $ 2,037,677 |
Note 6 - Restricted Cash - Cash
Note 6 - Restricted Cash - Cash, Cash Equivalents and Restricted Cash (Details) - USD ($) | Oct. 31, 2021 | Jul. 31, 2021 | Oct. 31, 2020 | Jul. 31, 2020 |
Cash and cash equivalents | $ 96,304,124 | $ 44,312,780 | $ 6,700,603 | |
Restricted cash | 2,037,677 | $ 2,037,677 | 1,839,260 | $ 1,839,216 |
Total cash, cash equivalents and restricted cash | $ 98,341,801 | $ 8,539,863 |
Note 7 - Equity-accounted Inv_3
Note 7 - Equity-accounted Investment (Details Textual) - USD ($) | 3 Months Ended | ||
Oct. 31, 2021 | Oct. 31, 2020 | Jul. 31, 2021 | |
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax, Total | $ 143,169 | $ 62,761 | |
Uranium Royalty Corp [Member] | |||
Equity Method Investment, Shares Owned (in shares) | 15,000,000 | ||
Equity Method Investment, Ownership Percentage | 16.50% | 18.10% | |
Ownership Interest Percentage, Contingent, Outstanding Options and Warrants Fully Exercised | 13.60% | ||
Gain on Dilution of Ownership Interest | $ 1,918,454 | ||
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax, Total | 143,169 | $ 62,761 | |
Equity Method Investments, Fair Value Disclosure | $ 72,300,000 |
Note 7 - Equity-accounted Inv_4
Note 7 - Equity-accounted Investment - Equity-accounted Investment (Details) - USD ($) | 3 Months Ended | |
Oct. 31, 2021 | Oct. 31, 2020 | |
Total | $ 2,753,167 | $ (703,605) |
Balance | 20,729,674 | |
Balance | 23,626,010 | |
Uranium Royalty Corp [Member] | ||
Share of income (loss) from URC | 834,713 | (703,605) |
Gain on dilution of ownership interest | 1,918,454 | 0 |
Total | 2,753,167 | (703,605) |
Balance | 20,729,674 | |
Gain on dilution of ownership interest | 1,918,454 | $ 0 |
Translation gain (loss) | 143,169 | |
Balance | $ 23,626,010 |
Note 8 - Related Party Transa_2
Note 8 - Related Party Transactions (Details Textual) - Blender Media Inc [Member] - USD ($) | 3 Months Ended | ||
Oct. 31, 2021 | Oct. 31, 2020 | Jul. 31, 2021 | |
Related Party Transaction, Expenses from Transactions with Related Party | $ 2,106 | $ 16,677 | |
Due to Related Parties, Total | $ 515 | $ 843 |
Note 9 - Long-term Debt (Detail
Note 9 - Long-term Debt (Details Textual) | Dec. 14, 2021USD ($)shares | Oct. 31, 2021USD ($) | Oct. 31, 2020USD ($) | Jul. 31, 2021USD ($) |
Amortization of Debt Discount (Premium) | $ 265,571 | $ 443,867 | ||
Working Capital Ratio | 50 | |||
Credit Agreement [Member] | ||||
Amortization of Debt Discount (Premium) | $ 265,571 | 443,867 | ||
Interest Paid, Including Capitalized Interest, Operating and Investing Activities, Total | $ 204,445 | $ 408,889 | ||
Debt Instrument, Interest Rate, Stated Percentage | 8.00% | |||
Debt Instrument, Interest Rate, Effective Percentage | 18.10% | |||
Long-term Debt, Gross | $ 10,000,000 | $ 10,000,000 | ||
Debt Instrument, Covenant, Minimum Working Capital Ratio | 1 | |||
Third Amended and Restated Credit Agreement [Member] | Subsequent Event [Member] | ||||
Stock Issued During Period, Shares, Credit Facility (in shares) | shares | 161,594 | |||
Stock Issued During Period, Value, Credit Facility | $ 600,000 | |||
Percentage of Outstanding Principal of Anniversary Fee | 6.00% | |||
Long-term Debt, Gross | $ 10,000,000 |
Note 9 - Long-term Debt - Long-
Note 9 - Long-term Debt - Long-term Debt (Details) - Credit Agreement [Member] - USD ($) | Oct. 31, 2021 | Jul. 31, 2021 |
Long-term Debt, Gross | $ 10,000,000 | $ 10,000,000 |
Unamortized discount and accrued fees | 340,802 | 75,231 |
Long-term debt, net of unamortized discount | $ 10,340,802 | $ 10,075,231 |
Note 10 - Asset Retirement Ob_3
Note 10 - Asset Retirement Obligations - Change in Asset Retirement Obligation (Details) | 3 Months Ended |
Oct. 31, 2021USD ($) | |
Balance, July 31, 2021 | $ 3,938,655 |
Accretion | 51,085 |
Balance, October 31, 2021 | $ 3,989,740 |
Note 10 - Asset Retirement Ob_4
Note 10 - Asset Retirement Obligations - Estimated Amounts and Timing of Cash Flows and Assumptions Used for ARO Estimates (Details) | Oct. 31, 2021USD ($) | Jul. 31, 2021USD ($) |
Undiscounted amount of estimated cash flows | $ 8,221,018 | |
Maximum [Member] | ||
Undiscounted amount of estimated cash flows | $ 8,221,018 | $ 8,221,018 |
Maximum [Member] | Measurement Input, Expected Term [Member] | ||
Asset retirement obligations, measurement input | 21 | 21 |
Maximum [Member] | Measurement Input, Inflation Rate [Member] | ||
Asset retirement obligations, measurement input | 0.0217 | 0.0217 |
Maximum [Member] | Measurement Input, Discount Rate [Member] | ||
Asset retirement obligations, measurement input | 0.0596 | 0.0596 |
Minimum [Member] | Measurement Input, Expected Term [Member] | ||
Asset retirement obligations, measurement input | 9 | 9 |
Minimum [Member] | Measurement Input, Inflation Rate [Member] | ||
Asset retirement obligations, measurement input | 0.0156 | 0.0156 |
Minimum [Member] | Measurement Input, Discount Rate [Member] | ||
Asset retirement obligations, measurement input | 0.0550 | 0.0550 |
Note 10 - Asset Retirement Ob_5
Note 10 - Asset Retirement Obligations - Undiscounted Amounts of Estimated Cash Flows for the Next Five Fiscal Years and Beyond (Details) | Oct. 31, 2021USD ($) |
Fiscal 2022 | $ 0 |
Fiscal 2023 | 0 |
Fiscal 2024 | 0 |
Fiscal 2025 | 0 |
Fiscal 2026 | 0 |
Remaining balance | 8,221,018 |
Undiscounted Amount of Estimated Cash Flows | $ 8,221,018 |
Note 11 - Lease Liabilities (De
Note 11 - Lease Liabilities (Details Textual) | 3 Months Ended |
Oct. 31, 2021USD ($) | |
Operating Lease, Weighted Average Remaining Lease Term (Year) | 15 years 1 month 6 days |
Operating Lease, Weighted Average Discount Rate, Percent | 4.75% |
Operating Lease, Payments | $ 49,942 |
Minimum [Member] | |
Lessee, Operating Lease, Remaining Lease Term (Year) | 4 months 24 days |
Maximum [Member] | |
Lessee, Operating Lease, Remaining Lease Term (Year) | 17 years 7 months 6 days |
Note 11 - Lease Liabilities - L
Note 11 - Lease Liabilities - Lease Expenses (Details) - USD ($) | 3 Months Ended | |
Oct. 31, 2021 | Oct. 31, 2020 | |
Operating Leases | $ 57,597 | $ 54,461 |
Short-term Leases | 338,421 | 22,642 |
Total Lease Expenses | $ 396,018 | $ 77,103 |
Note 11 - Lease Liabilities - M
Note 11 - Lease Liabilities - Minimum Future Lease Payments (Details) | Oct. 31, 2021USD ($) |
Fiscal 2022 | $ 320,093 |
Fiscal 2023 | 20,000 |
Fiscal 2024 | 20,000 |
Fiscal 2025 | 20,000 |
Fiscal 2026 | 20,000 |
Thereafter | 280,000 |
Total lease payments | 680,093 |
Less: imputed interest | (136,861) |
Other Liabilities [Member] | |
Present value of lease liabilities | 543,232 |
Other Current Liabilities [Member] | |
Current portion of lease liabilities | 301,481 |
Other Noncurrent Liabilities [Member] | |
Non-current portion of lease liabilities | $ 241,751 |
Note 12 - Capital Stock (Detail
Note 12 - Capital Stock (Details Textual) - USD ($) | Dec. 14, 2021 | Oct. 31, 2021 | Oct. 31, 2020 | Nov. 26, 2021 | Jul. 31, 2021 | May 14, 2021 |
Proceeds from Warrant Exercises | $ 910,328 | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value | 23,495,073 | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Aggregate Intrinsic Value | 14,549,700 | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Unvested in Period, Intrinsic Value | 8,945,373 | |||||
Share-based Payment Arrangement, Option [Member] | ||||||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total | $ 1,187,991 | |||||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year) | 1 year 25 days | |||||
Restricted Stock Units (RSUs) [Member] | ||||||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total | $ 943,551 | |||||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year) | 1 year 7 months 28 days | |||||
Share-based Payment Arrangement, Expense | $ 188,821 | $ 271,834 | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number, Ending Balance (in shares) | 997,612 | 997,612 | ||||
Performance-based Restriced Stock Units [Member] | ||||||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total | $ 621,729 | |||||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year) | 1 year 7 months 17 days | |||||
Share-based Payment Arrangement, Expense | $ 73,420 | $ 37,544 | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number, Ending Balance (in shares) | 1,250,451 | 1,250,451 | ||||
May 2021 At-the-market Offering [Member] | ||||||
Stock Offering, Maximum Amount | $ 100,000,000 | |||||
Stock Issued During Period, Shares, New Issues (in shares) | 20,743,878 | |||||
Proceeds from Issuance of Common Stock, Net | $ 62,671,123 | |||||
May 2021 At-the-market Offering [Member] | Subsequent Event [Member] | ||||||
Stock Issued During Period, Shares, New Issues (in shares) | 6,655,295 | |||||
Proceeds from Issuance of Common Stock, Net | $ 28,919,064 | |||||
The 2021 At-the-market Offerings [Member] | Subsequent Event [Member] | ||||||
Stock Offering, Maximum Amount | $ 100,000,000 | |||||
Proceeds from Issuance of Common Stock, Net | $ 31,500,000 | |||||
November 2021 At-the-market Offering [Member] | Subsequent Event [Member] | ||||||
Stock Issued During Period, Shares, New Issues (in shares) | 747,841 | |||||
Proceeds from Issuance of Common Stock, Net | $ 2,558,808 |
Note 12 - Capital Stock - Conti
Note 12 - Capital Stock - Continuity Schedule of Outstanding Share Purchase Warrants (Details) | 3 Months Ended |
Oct. 31, 2021$ / sharesshares | |
Balance, Number of Warrants (in shares) | shares | 5,387,323 |
Balance, Weighted Average Exercise Price (in dollars per share) | $ / shares | $ 1.90 |
Exercised, Number of Warrants (in shares) | shares | (491,849) |
Exercised, Weighted Average Exercise Price (in dollars per share) | $ / shares | $ 1.85 |
Balance, Number of Warrants (in shares) | shares | 4,895,474 |
Balance, Weighted Average Exercise Price (in dollars per share) | $ / shares | $ 1.91 |
Note 12 - Capital Stock - Warra
Note 12 - Capital Stock - Warrants Outstanding and Exercisable (Details) - $ / shares | 3 Months Ended | |
Oct. 31, 2021 | Jul. 31, 2021 | |
Weighted Average Exercise Price (in dollars per share) | $ 1.91 | $ 1.90 |
Number of Warrants Outstanding (in shares) | 4,895,474 | 5,387,323 |
Weighted Average Remaining Contractual Life (Year) | 1 year 7 days | |
Warrants 1 [Member] | ||
Number of Warrants Outstanding (in shares) | 221,546 | |
Weighted Average Remaining Contractual Life (Year) | 9 months 7 days | |
Expiry Date | Aug. 9, 2022 | |
Warrants 2 [Member] | ||
Number of Warrants Outstanding (in shares) | 4,467,110 | |
Weighted Average Remaining Contractual Life (Year) | 10 months 24 days | |
Expiry Date | Sep. 23, 2022 | |
Warrants 3 [Member] | ||
Number of Warrants Outstanding (in shares) | 25,000 | |
Weighted Average Remaining Contractual Life (Year) | 1 year 6 months 18 days | |
Expiry Date | May 21, 2023 | |
Warrants 4 [Member] | ||
Number of Warrants Outstanding (in shares) | 181,818 | |
Weighted Average Remaining Contractual Life (Year) | 4 years 5 months 4 days | |
Expiry Date | Apr. 5, 2026 |
Note 12 - Capital Stock - Sched
Note 12 - Capital Stock - Schedule of Outstanding Stock Options (Details) - $ / shares | 3 Months Ended | |
Oct. 31, 2021 | Oct. 31, 2020 | |
Balance, number of stock options (in shares) | 10,404,333 | |
Balance, Weighted Average Exercise Price (in dollars per share) | $ 1.21 | |
Granted, number of stock options (in shares) | 10,000 | |
Granted, Weighted Average Exercise Price (in dollars per share) | $ 2.89 | |
Exercised, number of stock options (in shares) | (1,030,543) | (28,500) |
Exercised Options, Weighted Average Exercise Price (in dollars per share) | $ 1.18 | |
Expired, number of stock options (in shares) | (60,000) | |
Expired, Weighted Average Exercise Price (in dollars per share) | $ 2.78 | |
Balance, number of stock options (in shares) | 9,323,790 | |
Balance, Weighted Average Exercise Price (in dollars per share) | $ 1.20 |
Note 12 - Capital Stock - Numbe
Note 12 - Capital Stock - Number of Shares Issued and Cash Received Upon Exercise of the Stock Options (Details) - USD ($) | 3 Months Ended | |
Oct. 31, 2021 | Oct. 31, 2020 | |
Number of Options Exercised on Cash Basis (in shares) | 344,998 | 10,000 |
Number of Options Exercised on Forfeiture Basis (in shares) | 685,545 | 18,500 |
Total Number of Options Exercised (in shares) | 1,030,543 | 28,500 |
Number of Shares Issued on Cash Exercise (in shares) | 344,998 | 10,000 |
Number of Shares Issued on Forfeiture Basis (in shares) | 408,992 | 3,532 |
Total Number of Shares Issued Upon Exercise of Options (in shares) | 753,990 | 13,532 |
Cash Received from Exercise of Stock Options | $ 383,779 | $ 9,309 |
Total Intrinsic Value of Options Exercised | $ 1,905,216 | $ 6,678 |
Note 12 - Capital Stock - Sch_2
Note 12 - Capital Stock - Schedule of Outstanding Unvested Stock Options (Details) | 3 Months Ended |
Oct. 31, 2021$ / sharesshares | |
Nonvested balance (in shares) | shares | 3,891,207 |
Nonvested, Weighted Average Grant-Date Fair Value (in dollars per share) | $ / shares | $ 0.66 |
Granted, number of stock options (in shares) | shares | 10,000 |
Granted, Weighted Average Grant-Date Fair Value (in dollars per share) | $ / shares | $ 1.73 |
Vested (in shares) | shares | (265,427) |
Vested, Weighted Average Grant-Date Fair Value (in dollars per share) | $ / shares | $ 0.87 |
Nonvested balance (in shares) | shares | 3,635,780 |
Nonvested, Weighted Average Grant-Date Fair Value (in dollars per share) | $ / shares | $ 0.64 |
Note 12 - Capital Stock - Summa
Note 12 - Capital Stock - Summary of Stock Options Outstanding and Exercisable (Details) - $ / shares | 3 Months Ended | |
Oct. 31, 2021 | Jul. 31, 2021 | |
Options Outstanding (in shares) | 9,323,790 | 10,404,333 |
Options outstanding, weighted average exercise price (in dollars per share) | $ 1.20 | $ 1.21 |
Options outstanding, weighted average remaining contractual term (Year) | 6 years 10 months 28 days | |
Options exercisable (in shares) | 5,688,010 | |
Options exercisable, weighted average exercise price (in dollars per share) | $ 1.16 | |
Options exercisable, weighted average remaining contractual term (Year) | 5 years 7 months 9 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 (in shares) | 4,859,185 | |
Options outstanding, weighted average exercise price (in dollars per share) | $ 0.92 | |
Options outstanding, weighted average remaining contractual term (Year) | 8 years 3 months 21 days | |
Options exercisable (in shares) | 2,951,060 | |
Options exercisable, weighted average exercise price (in dollars per share) | $ 0.92 | |
Options exercisable, weighted average remaining contractual term (Year) | 8 years 18 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 (in shares) | 2,168,875 | |
Options outstanding, weighted average exercise price (in dollars per share) | $ 1.17 | |
Options outstanding, weighted average remaining contractual term (Year) | 5 years 8 months 12 days | |
Options exercisable (in shares) | 1,285,541 | |
Options exercisable, weighted average exercise price (in dollars per share) | $ 1.23 | |
Options exercisable, weighted average remaining contractual term (Year) | 3 years 7 months 17 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) | $ 2.89 | |
Options Outstanding (in shares) | 2,295,730 | |
Options outstanding, weighted average exercise price (in dollars per share) | $ 1.82 | |
Options outstanding, weighted average remaining contractual term (Year) | 5 years 1 month 2 days | |
Options exercisable (in shares) | 1,451,409 | |
Options exercisable, weighted average exercise price (in dollars per share) | $ 1.59 | |
Options exercisable, weighted average remaining contractual term (Year) | 2 years 4 months 24 days |
Note 12 - Capital Stock - Sum_2
Note 12 - Capital Stock - Summary of Outstanding Unvested RSUs (Details) - Restricted Stock Units (RSUs) [Member] - USD ($) | 3 Months Ended | |
Oct. 31, 2021 | Jul. 31, 2021 | |
Number of Restricted Stock Units (in shares) | 997,612 | 997,612 |
Grant Date Fair Value (in dollars per share) | $ 1.42 | |
Remaining Life (Year) | 1 year 11 months 19 days | |
Aggregate Intrinsic Value | $ 3,711,116 | |
July 30, 2019 [Member] | ||
Number of Restricted Stock Units (in shares) | 154,999 | |
Grant Date Fair Value (in dollars per share) | $ 0.94 | |
Remaining Life (Year) | 9 months | |
Aggregate Intrinsic Value | $ 576,596 | |
July 16, 2020 [Member] | ||
Number of Restricted Stock Units (in shares) | 434,996 | |
Grant Date Fair Value (in dollars per share) | $ 0.91 | |
Remaining Life (Year) | 1 year 8 months 15 days | |
Aggregate Intrinsic Value | $ 1,618,185 | |
July 21, 2021 [Member] | ||
Number of Restricted Stock Units (in shares) | 407,617 | |
Grant Date Fair Value (in dollars per share) | $ 2.15 | |
Remaining Life (Year) | 2 years 8 months 19 days | |
Aggregate Intrinsic Value | $ 1,516,335 |
Note 12 - Capital Stock - Sum_3
Note 12 - Capital Stock - Summary of Stock-based Compensation Expense (Details) - USD ($) | 3 Months Ended | |
Oct. 31, 2021 | Oct. 31, 2020 | |
Share-based Payment Arrangement, Noncash Expense, Total | $ 1,380,660 | $ 1,378,515 |
Common stock issued | 355,228 | 265,590 |
Consultants [Member] | ||
Common stock issued to consultants | 304,587 | 119,470 |
Amortization of expenses | 79,773 | 103,928 |
Share-based Payment Arrangement, Noncash Expense, Total | 384,360 | 223,398 |
Management [Member] | ||
Amortization of expenses | 165,549 | 253,731 |
Share-based Payment Arrangement, Noncash Expense, Total | 427,790 | 563,109 |
Management [Member] | Restricted Stock Units (RSUs) and Performance Restricted Stock Units (PRSUs) [Member] | ||
Amortization of expenses | 262,241 | 309,378 |
Employees [Member] | ||
Amortization of expenses | 295,597 | 379,138 |
Share-based Payment Arrangement, Noncash Expense, Total | 568,510 | 592,008 |
Common stock issued | $ 272,913 | $ 212,870 |
Note 13 - Loss Per Share - Weig
Note 13 - Loss Per Share - Weighted Average Number of Shares Used in the Calculation of the Basic and Diluted Loss Per Share (Details) - USD ($) | 3 Months Ended | |
Oct. 31, 2021 | Oct. 31, 2020 | |
Net loss for the period | $ (2,073,826) | $ (4,963,537) |
Basic Weighted Average Number of Shares (in shares) | 246,859,322 | 189,955,499 |
Dilutive Stock Options, RSUs, PRSUs and Warrants (in shares) | 0 | 0 |
Diluted Weighted Average Number of Shares (in shares) | 246,859,322 | 189,955,499 |
NET LOSS PER SHARE, BASIC AND DILUTED (in dollars per share) | $ (0.01) | $ (0.03) |
Note 14 - Segmented Informati_3
Note 14 - Segmented Information (Details Textual) | 3 Months Ended | |
Oct. 31, 2021USD ($) | Jul. 31, 2021USD ($) | |
Number of Reportable Segments | 1 | |
Long-Lived Assets | $ 98,291,597 | $ 94,495,723 |
UNITED STATES | ||
Long-Lived Assets | $ 58,949,368 | |
Percentage of Long Term Assets | 60.00% |
Note 14 - Segmented Informati_4
Note 14 - Segmented Information - Long-term Assets by Geographic Segments (Details) - USD ($) | Oct. 31, 2021 | Jul. 31, 2021 | Oct. 31, 2020 | Jul. 31, 2020 |
Mineral Rights and Properties | $ 64,009,292 | $ 63,784,003 | ||
Property, Plant and Equipment | 7,318,570 | 7,358,037 | ||
Restricted Cash | 2,037,677 | 2,037,677 | $ 1,839,260 | $ 1,839,216 |
Equity-Accounted Investment | 23,626,010 | 20,729,674 | ||
Other Non-Current Assets | 1,300,048 | 586,332 | ||
Total Long-Term Assets | 98,291,597 | 94,495,723 | ||
United States Texas [Member] | ||||
Mineral Rights and Properties | 12,420,786 | 12,421,161 | ||
Property, Plant and Equipment | 6,609,746 | 6,645,905 | ||
Restricted Cash | 1,948,704 | 1,948,704 | ||
Equity-Accounted Investment | 0 | 0 | ||
Other Non-Current Assets | 1,255,297 | 522,306 | ||
Total Long-Term Assets | 22,234,533 | 21,538,076 | ||
United States Arizona [Member] | ||||
Mineral Rights and Properties | 4,627,477 | 4,627,477 | ||
Property, Plant and Equipment | 0 | 0 | ||
Restricted Cash | 15,000 | 15,000 | ||
Equity-Accounted Investment | 0 | 0 | ||
Other Non-Current Assets | 0 | 0 | ||
Total Long-Term Assets | 4,642,477 | 4,642,477 | ||
United States Wyoming [Member] | ||||
Mineral Rights and Properties | 31,527,870 | 31,527,870 | ||
Property, Plant and Equipment | 309,044 | 312,763 | ||
Restricted Cash | 73,973 | 73,973 | ||
Equity-Accounted Investment | 0 | 0 | ||
Other Non-Current Assets | 14,500 | 16,000 | ||
Total Long-Term Assets | 31,925,387 | 31,930,606 | ||
United States Other States [Member] | ||||
Mineral Rights and Properties | 146,971 | 146,971 | ||
Property, Plant and Equipment | 0 | 0 | ||
Restricted Cash | 0 | 0 | ||
Equity-Accounted Investment | 0 | 0 | ||
Other Non-Current Assets | 0 | 0 | ||
Total Long-Term Assets | 146,971 | 146,971 | ||
CANADA | ||||
Mineral Rights and Properties | 772,602 | 546,938 | ||
Property, Plant and Equipment | 32,284 | 34,036 | ||
Restricted Cash | 0 | 0 | ||
Equity-Accounted Investment | 23,626,010 | 20,729,674 | ||
Other Non-Current Assets | 30,251 | 48,026 | ||
Total Long-Term Assets | 24,461,147 | 21,358,674 | ||
PARAGUAY | ||||
Mineral Rights and Properties | 14,513,586 | 14,513,586 | ||
Property, Plant and Equipment | 367,496 | 365,333 | ||
Restricted Cash | 0 | 0 | ||
Equity-Accounted Investment | 0 | 0 | ||
Other Non-Current Assets | 0 | 0 | ||
Total Long-Term Assets | $ 14,881,082 | $ 14,878,919 |
Note 14 - Segmented Informati_5
Note 14 - Segmented Information - Operating Results by Geographic Segments (Details) - USD ($) | 3 Months Ended | |
Oct. 31, 2021 | Oct. 31, 2020 | |
Mineral Property Expenditures | $ 1,656,516 | $ 701,761 |
General and administrative | 3,116,711 | 2,585,689 |
Depreciation, amortization and accretion | 98,440 | 99,180 |
Loss from operations | (4,871,667) | (3,386,630) |
Other income (expenses) | 2,796,797 | (1,577,723) |
Loss before income taxes | (2,074,870) | (4,964,353) |
United States Texas [Member] | ||
Mineral Property Expenditures | 1,152,077 | 477,330 |
General and administrative | 2,601,809 | 2,167,359 |
Depreciation, amortization and accretion | 89,600 | 89,372 |
Loss from operations | (3,843,486) | (2,734,061) |
Other income (expenses) | 26,829 | (880,214) |
Loss before income taxes | (3,816,657) | (3,614,275) |
United States Arizona [Member] | ||
Mineral Property Expenditures | 29,575 | 31,024 |
General and administrative | 3,720 | 3,720 |
Depreciation, amortization and accretion | 0 | 0 |
Loss from operations | (33,295) | (34,744) |
Other income (expenses) | (4,767) | (4,767) |
Loss before income taxes | (38,062) | (39,511) |
United States Wyoming [Member] | ||
Mineral Property Expenditures | 199,819 | 100,490 |
General and administrative | 21,395 | 17,470 |
Depreciation, amortization and accretion | 3,719 | 3,719 |
Loss from operations | (224,933) | (121,679) |
Other income (expenses) | 200 | 200 |
Loss before income taxes | (224,733) | (121,479) |
United States Other States [Member] | ||
Mineral Property Expenditures | 20,424 | 20,069 |
General and administrative | 345 | 373 |
Depreciation, amortization and accretion | 0 | 0 |
Loss from operations | (20,769) | (20,442) |
Other income (expenses) | 0 | 0 |
Loss before income taxes | (20,769) | (20,442) |
CANADA | ||
Mineral Property Expenditures | 2,971 | 2,792 |
General and administrative | 479,752 | 385,208 |
Depreciation, amortization and accretion | 3,698 | 4,308 |
Loss from operations | (486,421) | (392,308) |
Other income (expenses) | 2,773,732 | (697,995) |
Loss before income taxes | 2,287,311 | (1,090,303) |
PARAGUAY | ||
Mineral Property Expenditures | 251,650 | 70,056 |
General and administrative | 9,690 | 11,559 |
Depreciation, amortization and accretion | 1,423 | 1,781 |
Loss from operations | (262,763) | (83,396) |
Other income (expenses) | 803 | 5,053 |
Loss before income taxes | $ (261,960) | $ (78,343) |
Note 15 - Subsequent Event (Det
Note 15 - Subsequent Event (Details Textual) - Uranium One Americas, Inc [Member] - Subsequent Event [Member] $ in Millions | Dec. 14, 2021USD ($) |
Business Combination, Contingent Consideration, Asset, Total | $ 125.4 |
Business Combination, Cash Consideration | 111.6 |
Business Combination, Consideration Transferred, Liabilities Incurred | $ 13.8 |