Note 4 - Inventories

9 Months Ended

Apr. 30, 2021

Notes to Financial Statements

Inventory Disclosure [Text Block]

NOTE 4: INVENTORIES

During the

three

months ended

April 30, 2021,

we entered into agreements to purchase

2,305,000

pounds of uranium inventories, of which

900,000

pounds of uranium inventory were received.

As at

April 30, 2021,

costs of inventories consisted of the following:

	April 30, 2021		July 31, 2020
Supplies and work-in-progress	$	33,781	$	33,781
Uranium concentrates from production		177,881		177,881
Purchased uranium inventories		26,193,818		-
	$	26,405,480	$	211,662

As of 

April 30, 2021,

our uranium inventory purchase commitments for the next

two

fiscal years are as the follows:

	Purchase Commitments in Pounds		Total Purchase Price
Fiscal 2021		100,000	$	2,745,000
Fiscal 2022		600,000		18,065,000
Fiscal 2023		705,000		22,674,000
Total		1,405,000	$	43,484,000

Subsequent to

April 30, 2021,

we received

100,000

pounds of uranium inventories at a purchase price of

$2,745,000,

and entered into agreements to purchase

200,000

pounds of uranium inventories.