Note 3 - Inventories

12 Months Ended

Jul. 31, 2021

Notes to Financial Statements

Inventory Disclosure [Text Block]

NOTE

3:

         

INVENTORIES

During Fiscal

2021,

we entered into agreements to purchase

3,700,000

pounds of uranium concentrates under our Physical Uranium Portfolio, of which

1,000,000

pounds of uranium concentrates were received.

As at

July 31, 2021,

costs of uranium concentrate inventories consisted of the following:

	July 31, 2021		July 31, 2020
Supplies and work-in-progress	$	33,781	$	33,781
Uranium concentrates from production		177,881		177,881
Purchased uranium inventories		28,960,818		-
	$	29,172,480	$	211,662

As at

July 31, 2021,

our uranium inventory purchase commitments over the next

five

fiscal years are as the follows:

	Purchase Commitments in Pounds		Total Purchase Price
Fiscal 2022		600,000	$	18,065,000
Fiscal 2023		1,205,000		39,409,000
Fiscal 2024		495,000		16,913,250
Fiscal 2025		400,000		14,130,000
Fiscal 2026		-		-
Total		2,700,000	$	88,517,250

Subsequent to

July 31, 2021,

we entered into agreements to purchase an additional

400,000

pounds of uranium concentrates with an aggregate purchase price of

$14,500,000,

of which

200,000

pounds of uranium concentrates with an aggregate purchase price of

$6,980,000

were received.