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PROPERTY, PLANT AND EQUIPMENT (Tables)

6 Months Ended

Jan. 31, 2013

Schedule of Property, Plant and Equipment [Table Text Block]

		January 31, 2013							July 31, 2012
		Cost		Accumulated			Net Book		Cost		Accumulated			Net Book
				Amortization			Value				Amortization			Value
Hobson Processing Facility	$	6,671,959	$	(337,235	)	$	6,334,724	$	6,671,959	$	(258,068	)	$	6,413,891
Mining equipment		2,300,062		(1,020,897	)		1,279,165		2,182,251		(811,016	)		1,371,235
Vehicles		1,852,764		(1,212,501	)		640,263		1,841,119		(1,063,240	)		777,879
Computer equipment		642,133		(441,099	)		201,034		636,240		(378,651	)		257,589
Furniture and fixtures		193,013		(125,770	)		67,243		193,013		(108,531	)		84,482
Land		175,144		-			175,144		175,144		-			175,144
Leasehold improvements		9,970		(9,080	)		890		9,970		(8,956	)		1,014
	$	11,845,045	$	(3,146,582	)	$	8,698,463	$	11,709,696	$	(2,628,462	)	$	9,081,234

- Definition

Tabular disclosure of the useful life and salvage value of long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software.

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