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TAX REFORM AND INCOME TAXES (Tables)
 12 Months Ended
Jul. 31, 2018
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]
A reconciliation of income tax computed at the federal and state statutory tax rates including the Company’s effective tax rate is as follows:
 
 
 
Year Ended July 31,
 
 
 
2018
 
 
2017
 
 
2016
 
Federal income tax provision rate
 
 
26.87
%
 
 
35.00
%
 
 
35.00
%
State income tax provision rate, net of federal income tax effect
 
 
0.59
%
 
 
0.43
%
 
 
0.35
%
Total income tax provision rate
 
 
27.46
%
 
 
35.43
%
 
 
35.35
%
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]
The actual income tax provisions differ from the expected amounts calculated by applying the combined federal and state corporate income tax rates to our loss before income taxes. The components of these differences are as follows:
 
 
 
Year Ended July 31,
 
 
 
2018
 
 
2017
 
 
2016
 
Loss before income taxes
 
$
(18,534,145
)
 
$
(18,005,411
)
 
$
(17,362,111
)
Corporate tax rate
 
 
27.46
%
 
 
35.43
%
 
 
35.35
%
Expected tax recovery
 
 
(5,089,476
)
 
 
(6,379,317
)
 
 
(6,137,506
)
Increase (decrease) resulting from
 
 
 
 
 
 
 
 
 
 
 
 
Foreign tax rate differences
 
 
167,162
 
 
 
185,700
 
 
 
230,148
 
Permanent differences
 
 
434,863
 
 
 
446,377
 
 
 
806,736
 
Prior year true-up
 
 
(141,814
)
 
 
(1,028,592
)
 
 
(753,150
)
Property acquisition
 
 
-
 
 
 
(491,798
)
 
 
-
 
Foreign exchange rate differences
 
 
(41,014
)
 
 
(3,248
)
 
 
129,015
 
Other
 
 
35,706
 
 
 
81,660
 
 
 
59,705
 
Recognition of deferred tax assets
 
 
430,121
 
 
 
-
 
 
 
-
 
Change in valuation allowance
 
 
4,156,768
 
 
 
7,149,654
 
 
 
5,627,606
 
Tax adjustment from operations
 
 
(47,684
)
 
 
(39,564
)
 
 
(37,446
)
 
 
 
 
 
 
 
 
 
 
 
 
 
Re-measurement of deferred tax liability at 21%
 
 
(232,843
)
 
 
-
 
 
 
-
 
Recognition of deferred tax assets to offset deferred tax liability
 
 
(430,121
)
 
 
-
 
 
 
-
 
Unrealized loss, other comprehensive loss
 
 
3,137
 
 
 
5,209
 
 
 
5,207
 
Deferred tax benefits
 
$
(707,511
)
 
$
(34,355
)
 
$
(32,239
)
Schedule of Income before Income Tax, Domestic and Foreign [Table Text Block]
The components of income (loss) from operations before income taxes, by tax jurisdiction, are as follows:
 
 
 
Year Ended July 31,
 
 
 
2018
 
 
2017
 
 
2016
 
United States
 
$
(17,709,866
)
 
$
(17,303,682
)
 
$
(16,488,447
)
Canada
 
 
145,267
 
 
 
45,316
 
 
 
54,216
 
Paraguay
 
 
(969,546
)
 
 
(747,045
)
 
 
(927,880
)
 
 
$
(18,534,145
)
 
$
(18,005,411
)
 
$
(17,362,111
)
Schedule of Deferred Tax Assets and Liabilities [Table Text Block]
The Company’s deferred tax assets (liabilities) are as follows:
 
 
 
July 31, 2018
 
 
July 31, 2017
 
Deferred tax assets (liabilities)
 
 
 
 
 
 
 
 
Mineral properties
 
$
1,587,220
 
 
$
2,533,819
 
Exploration costs
 
 
6,556,355
 
 
 
10,950,241
 
Stock option expense
 
 
4,266,067
 
 
 
7,031,732
 
Depreciable property
 
 
(255,544
)
 
 
(367,164
)
Inventories
 
 
(3,894,552
)
 
 
(5,471,486
)
Asset retirement obligations
 
 
(28,925
)
 
 
(130,740
)
Other
 
 
57,060
 
 
 
179,518
 
Loss carry forward
 
 
42,075,593
 
 
 
57,989,069
 
 
 
 
50,363,274
 
 
 
72,714,989
 
Valuation allowance
 
 
(50,366,411
)
 
 
(72,720,198
)
Deferred tax assets
 
 
(3,137
)
 
 
(5,209
)
Deferred tax assets, other comprehensive loss
 
 
3,137
 
 
 
5,209
 
 
 
 
 
 
 
 
 
 
Deferred tax liabilities
 
 
 
 
 
 
 
 
Mineral properties
 
 
(564,923
)
 
 
(609,470
)
Net deferred tax liabilities
 
$
(564,923
)
 
$
(609,470
)
UNITED STATES  
Summary of Operating Loss Carryforwards [Table Text Block]
The Company’s U.S. net operating loss carry-forwards expire as follows:
 
July 31, 2023
 
$
180,892
 
July 31, 2024
 
 
228,757
 
July 31, 2025
 
 
507,833
 
July 31, 2026
 
 
5,895,221
 
July 31, 2027
 
 
3,892,722
 
July 31, 2028
 
 
9,913,533
 
July 31, 2029
 
 
8,469,032
 
July 31, 2030
 
 
7,853,521
 
July 31, 2031
 
 
14,954,064
 
July 31, 2032
 
 
15,547,890
 
July 31, 2033
 
 
16,865,884
 
July 31, 2034
 
 
22,139,423
 
July 31, 2035
 
 
19,891,560
 
July 31, 2036
 
 
19,024,525
 
July 31, 2037
 
 
20,396,629
 
July 31, 2038
 
 
690,637
 
 
 
$
166,452,123
 
CANADA  
Summary of Operating Loss Carryforwards [Table Text Block]
The Company’s Canadian net operating loss carry-forwards in Canadian dollars expire as follows:
 
July 31, 2027
 
$
183,105
 
July 31, 2028
 
 
629,788
 
July 31, 2029
 
 
769,072
 
July 31, 2030
 
 
764,230
 
July 31, 2031
 
 
2,205,364
 
July 31, 2032
 
 
761,843
 
July 31, 2033
 
 
69,854
 
July 31, 2034
 
 
61,769
 
July 31, 2035
 
 
41,173
 
July 31, 2036
 
 
9,917
 
 
 
$
5,496,115