XML 86 R4.htm IDEA: XBRL DOCUMENT v3.3.0.814
CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS - USD ($)
12 Months Ended
Jul. 31, 2015
Jul. 31, 2014
Jul. 31, 2013
SALES $ 3,080,000 $ 0 $ 9,026,325
COSTS AND EXPENSES      
Cost of sales 2,326,674 0 8,016,265
Inventory write-down 0 804,060 425,208
Mineral property expenditures 5,706,080 9,160,648 10,010,691
General and administrative 13,230,840 9,825,796 10,832,929
Depreciation, amortization and accretion 1,802,443 2,392,866 1,551,861
Impairment loss on mineral properties 349,805 653,224 0
TOTAL OPERATING EXPENSES 23,415,842 22,836,594 30,836,954
LOSS FROM OPERATIONS (20,335,842) (22,836,594) (21,810,629)
OTHER INCOME (EXPENSES)      
Interest income 12,797 30,027 32,524
Interest and finance costs (3,071,235) (2,893,816) (32,758)
Gain (loss) on disposition of assets (38) (2,553) 4,249
Realized loss on available-for-sale securities (3,023) 0 (45,750)
Loss on fair value of variable share forward contract 0 (331,130) 0
Gain (loss) on settlement of current liabilities 0 (20,581) 10,909
Gain (loss) on settlement of asset retirement obligations 0 9,831 (32,389)
TOTAL OTHER INCOME (EXPENSES) (3,061,499) (3,208,222) (63,215)
LOSS BEFORE INCOME TAXES (23,397,341) (26,044,816) (21,873,844)
DEFERRED INCOME TAX BENEFIT 35,413 69,709 10,753
NET LOSS FOR THE YEAR (23,361,928) (25,975,107) (21,863,091)
OTHER COMPREHENSIVE (LOSS) INCOME, NET OF INCOME TAXES (1,092) (13,539) 22,127
TOTAL COMPREHENSIVE LOSS FOR THE YEAR $ (23,363,020) $ (25,988,646) $ (21,840,964)
NET LOSS PER SHARE, BASIC AND DILUTED $ (0.25) $ (0.29) $ (0.26)
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING, BASIC AND DILUTED 92,397,547 89,136,505 85,380,412