XML 54 R17.htm IDEA: XBRL DOCUMENT v3.21.2
Note 11 - Asset Retirement Obligations
 12 Months Ended
Jul. 31, 2021
Notes to Financial Statements  
Asset Retirement Obligation Disclosure [Text Block]
NOTE
11:
         
ASSET RETIREMENT OBLIGATIONS
 
The Company's 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, 2020
   $
3,734,314
  
Accretion
    
204,341
  
Balance, July 31, 2021
  
$
3,938,655
  
 
The estimated amounts and timing of cash flows and assumptions used for the ARO estimates are as follows:
 
   
July 31, 2021
    
July 31, 2020
  
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
years and beyond are as follows:
 
Fiscal 2022
   $
-
  
Fiscal 2023
    
-
  
Fiscal 2024
    
-
  
Fiscal 2025
    
-
  
Fiscal 2026
    
-
  
Remaining balance
    
8,221,018
  
    $
8,221,018