SUPPLEMENTAL CASH FLOW INFORMATION

6 Months Ended

Jan. 31, 2012

SUPPLEMENTAL CASH FLOW INFORMATION [Text Block]

NOTE 13:            SUPPLEMENTAL CASH FLOW INFORMATION

		January 31, 2012		January 31, 2011
Cash and Cash Equivalents Consist of:
Cash in bank	$	6,525,677	$	4,946,147
Term deposits		10,326,658		28,733,658
	$	16,852,335	$	33,679,805

During the six months ended January 31, 2012, as a result of the merger with Concentric, the Company issued 1,603,440 common shares and 375,834 warrants with a combined fair value of $5,195,797 and made cash payments totaling $500,000. Additionally, the Company settled with certain Series “A” and “B” convertible debenture holders through a shares-for-debt arrangement whereby a total 72,703 common shares of the Company with a fair value of $231,195 were issued.

During the three months ended January 31, 2012, the Company issued 300,000 common shares with fair value of $915,000 and made cash payment of $84,640 for acquisition of the Workman Creek Project.