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Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Jul. 31, 2021
Jul. 31, 2020
OPERATING ACTIVITIES    
Net loss for the year $ (14,813,810) $ (14,610,516)
Adjustments to reconcile net loss to cash flows in operating activities    
Stock-based compensation 5,471,578 3,493,218
Depreciation, amortization and accretion 393,173 310,222
Amortization of long-term debt discount 1,375,754 1,669,514
Loss (gain) on disposition of assets 2,146 (2,343)
Gain on loan extinguishment (286,376)
Income from equity-accounted investment (5,204,004) (2,967,583)
Deferred tax benefits (4,008) (5,551)
Changes in operating assets and liabilities    
Inventories (28,960,818)
Prepaid expenses and deposits (112,661) 453,949
Other current assets (6,336) 145,594
Accounts payable and accrued liabilities 699,617 (1,243,838)
Due to a related party (30,491) (37,346)
Other liabilities 6,787 (76,031)
NET CASH USED IN OPERATING ACTIVITIES (41,469,449) (12,870,711)
FINANCING ACTIVITIES    
Proceeds from share issuances, net of issuance costs 95,435,522
Repayments of long-term debt (10,000,000)
Repayments of other loans (144,621)
Proceeds from government loans 307,092
Cash paid for withholding amounts on RSU shares (833,363)
NET CASH PROVIDED BY FINANCING ACTIVITIES 84,457,538 307,092
INVESTING ACTIVITIES    
Investment in mineral rights and properties (80,000) (80,000)
Purchase of property, plant and equipment (147,699) (83,838)
Purchase of additional interest in equity-accounted investment (3,396,852)
Investment in term deposits (10,000,000)
Proceeds from redemption of term deposits 10,000,000 11,831,671
Proceeds from disposition of assets 3,127
NET CASH (USED IN) PROVIDED BY INVESTING ACTIVITIES (3,624,551) 11,670,960
NET CHANGE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH 39,363,538 (892,659)
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, BEGINNING OF YEAR 6,986,919 7,879,578
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, END OF YEAR $ 46,350,457 $ 6,986,919