Note 10 - Investments in Equity Securities

3 Months Ended

Oct. 31, 2022

Notes to Financial Statements

Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block]

NOTE 10: INVESTMENTS IN EQUITY SECURITIES

As of October 31, 2022, our investment in equity securities included our investments in Anfield Energy Inc. (“Anfield”) shares in the amount of $4,814 ( July 31, 2022: $5,776), Anfield warrants in the amount of $705 ( July 31, 2022: $2,144) and common shares of ALX Resource Corp. in the amount of $147 ( July 31, 2022: $nil).

On August 19, 2022, we completed the UEX Acquisition (Note 3), and our investment in UEX shares in the amount of $6,914 as of July 31, 2022 has been re-measured to its fair value of $5,830 based on the closing price of UEX on August 19, 2022 and adjusted pursuant to the terms of the consideration underlying the UEX Acquisition.

During the three months ended October 31, 2022, the changes in our investments in equity securities is summarized as follows:

Balance, July 31, 2022	$	14,834
Adjustment to consideration of UEX Acquisition (Note 3)		(5,830	)
Investment acquired from UEX Acquisition (Note 3)		135
Fair value adjustment		(3,466	)
Foreign exchange difference		(7	)
Balance, October 31, 2022	$	5,666

Subsequent to October 31, 2022, we invested a total of $18,413 to acquire equity securities.