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Note 4 - Mineral Rights and Properties | 3 Months Ended
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Oct. 31, 2024
Notes to Financial Statements |
Mineral Industries Disclosures [Text Block] |
NOTE 4: | MINERAL RIGHTS AND PROPERTIES
Mineral Rights As at October 31, 2024, we own mineral rights in the States of Arizona, New Mexico, Texas and Wyoming, in Canada and in the Republic of Paraguay. These mineral rights were acquired through staking, purchase or lease or option agreements and are subject to varying royalty interests, some of which are indexed to the sale price of uranium. As of October 31, 2024, annual maintenance payments of approximately $5.93 million will be required to maintain these mineral rights. As at October 31, 2024, the carrying value of our mineral rights and properties were as follows:
Costs |  | United States |  |  | Canada |  |  | Paraguay |  |  | Total |
Balance, July 31, 2024 |  | $ | 172,540 |  |  | $ | 376,523 |  |  | $ | 15,014 |  |  | $ | 564,077 |
Additions |  |  | 114 |  |  |  | - |  |  |  | - |  |  |  | 114 |
Impact of foreign currency translation |  |  | - |  |  |  | (1,514 | ) |  |  | - |  |  |  | (1,514 | )
Balance, October 31, 2024 |  |  | 172,654 |  |  |  | 375,009 |  |  |  | 15,014 |  |  |  | 562,677 |
Accumulated Depletion and Amortization |  | United States |  |  | Canada |  |  | Paraguay |  |  | Total |
Balance, July 31, 2024 |  |  | (6,389 | ) |  |  | (105 | ) |  |  | - |  |  |  | (6,494 | )
Additions |  |  | (226 | ) |  |  | - |  |  |  | - |  |  |  | (226 | )
Impact of foreign currency translation |  |  | - |  |  |  | 1 |  |  |  | - |  |  |  | 1 |
Balance, October 31, 2024 |  |  | (6,615 | ) |  |  | (104 | ) |  |  | - |  |  |  | (6,719 | )
Carrying Value |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Balance, July 31, 2024 |  | $ | 166,151 |  |  | $ | 376,418 |  |  | $ | 15,014 |  |  | $ | 557,583 |
Balance, October 31, 2024 |  | $ | 166,039 |  |  | $ | 374,905 |  |  | $ | 15,014 |  |  | $ | 555,958 |
Mineral property expenditures recorded during the period are as follows:
|  | Three Months Ended October 31, |
|  | 2024 |  |  | 2023 |
Permitting and compliance |  | $ | 290 |  |  | $ | 883 |
Property maintenance |  |  | 1,249 |  |  |  | 985 |
Exploration |  |  | 4,917 |  |  |  | 2,402 |
Development |  |  | 4,682 |  |  |  | 526 |
Extraction readiness |  |  | 2,376 |  |  |  | 890 |
Total |  | $ | 13,514 |  |  | $ | 5,686 |

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