Note 7 - Restricted Cash

9 Months Ended

Apr. 30, 2022

Notes to Financial Statements

Restricted Cash [Text Block]

NOTE 7:            RESTRICTED CASH

Restricted cash includes cash and cash equivalents and money market funds pledged as collateral for various bonds posted in favor of applicable state regulatory agencies in Arizona, Texas and Wyoming, and for estimated reclamation costs associated with our plants, processing facilities and various projects. Restricted cash will be released upon the completion of reclamation of a plant or a mineral property or the restructuring of a surety and collateral arrangement.

As at April 30, 2022, restricted cash consisted of the following:

	April 30, 2022			July 31, 2021
Restricted cash, beginning of period	$	2,037,677		$	1,839,216
Restricted cash received from U1A Acquisition		13,754,533			-
(Release) addition of surety bond collateral		(1,754,507	)		198,377
Interest received		392			84
Restricted cash, end of period	$	14,038,095		$	2,037,677

During the three months ended April 30, 2022, we received $1,754,507 as a result of the partial release of surety bond collateral related to the Christensen Ranch Mine and Irigaray Processing Facility.

Cash, cash equivalents and restricted cash are included in the following accounts as at April 30, 2022 and 2021:

	April 30, 2022		April 30, 2021
Cash and cash equivalents	$	23,754,031	$	43,930,316
Restricted cash		14,038,095		2,037,677
Total cash, cash equivalents and restricted cash	$	37,792,126	$	45,967,993