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Note 3 - Inventories | 12 Months Ended
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Jul. 31, 2021
Notes to Financial Statements |
Inventory Disclosure [Text Block] | NOTE 3: INVENTORIES During Fiscal 2021, we entered into agreements to purchase 3,700,000 pounds of uranium concentrates under our Physical Uranium Portfolio, of which 1,000,000 pounds of uranium concentrates were received. As at July 31, 2021, costs of uranium concentrate inventories consisted of the following:
|  | July 31, 2021 |  |  | July 31, 2020 |
Supplies and work-in-progress |  | $ | 33,781 |  |  | $ | 33,781 |
Uranium concentrates from production |  |  | 177,881 |  |  |  | 177,881 |
Purchased uranium inventories |  |  | 28,960,818 |  |  |  | - |
|  | $ | 29,172,480 |  |  | $ | 211,662 |
As at July 31, 2021, our uranium inventory purchase commitments over the next five fiscal years are as the follows:
|  | Purchase Commitments in Pounds |  |  | Total Purchase Price |
Fiscal 2022 |  |  | 600,000 |  |  | $ | 18,065,000 |
Fiscal 2023 |  |  | 1,205,000 |  |  |  | 39,409,000 |
Fiscal 2024 |  |  | 495,000 |  |  |  | 16,913,250 |
Fiscal 2025 |  |  | 400,000 |  |  |  | 14,130,000 |
Fiscal 2026 |  |  | - |  |  |  | - |
Total |  |  | 2,700,000 |  |  | $ | 88,517,250 |
Subsequent to July 31, 2021, we entered into agreements to purchase an additional 400,000 pounds of uranium concentrates with an aggregate purchase price of $14,500,000, of which 200,000 pounds of uranium concentrates with an aggregate purchase price of $6,980,000 were received.

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- Definition The entire disclosure for inventory. Includes, but is not limited to, the basis of stating inventory, the method of determining inventory cost, the classes of inventory, and the nature of the cost elements included in inventory. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 330 -URI http://asc.fasb.org/topic&trid=2126998 + Details
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