AVAILABLE-FOR-SALE SECURITIES

9 Months Ended

Apr. 30, 2012

AVAILABLE-FOR-SALE SECURITIES [Text Block]

NOTE 3: AVAILABLE-FOR-SALE SECURITIES

Available-for-sale securities consist of shares in publicly traded uranium exploration companies listed on the TSX Venture and Australian Stock Exchanges. For the three and nine months ended April 30, 2012 and 2011, the Company recorded an unrealized loss of $982 and $15,167 (2011: gain of $40,242 and $101,569), respectively, on available-for-sale securities recognized in accumulated other comprehensive income (loss).

The fair value of the Company’s available-for-sale securities at April 30, 2012 is as follows:

		Quoted Prices in			Significant			Significant
		Active Markets for			Other Observable			Unobservable
		Identical Assets			Inputs			Inputs
		(Level 1	)		(Level 2	)		(Level 3	)
Available-for-Sale Securities
Strategic Resources Inc.	$	11,843		$	-		$	-
Kaboko Mining Limited (formerly Uran Limited)		67,716			-			-
	$	79,559		$	-		$	-

The fair value of the Company’s available-for-sale securities at July 31, 2011 is as follows:

		Quoted Prices in			Significant			Significant
		Active Markets for			Other Observable			Unobservable
		Identical Assets			Inputs			Inputs
		(Level 1	)		(Level 2	)		(Level 3	)
Available-for-Sale Securities
Strategic Resources Inc.	$	24,490		$	-		$	-
Kaboko Mining Limited (formerly Uran Limited)		54,636			-			-
	$	79,126		$	-		$	-