Note 10 - Restricted Cash

12 Months Ended

Jul. 31, 2024

Notes to Financial Statements

Restricted Cash [Text Block]

NOTE 10: RESTRICTED CASH

Restricted cash includes cash and cash equivalents and money market funds 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 completion of reclamation of a mineral property or restructuring of a surety and collateral arrangement.

During Fiscal 2022, we received $8,550 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:

	July 31, 2024		July 31, 2023		July 31, 2022
Cash and cash equivalents	$	87,533	$	45,614	$	32,536
Restricted cash		7,251		7,251		7,251
Total cash, cash equivalents and restricted cash	$	94,784	$	52,865	$	39,787

Financial instruments that potentially subject the Company to concentrations of credit risk consist of cash and cash equivalents and restricted cash.  These assets include Canadian dollar and U.S. dollar denominated certificates of deposit, money market accounts and demand deposits.  These instruments are maintained at financial institutions in Canada and the U.S.  The maximum credit risk of these assets are the carrying amount less amount covered by the Canada Deposit Insurance Corporation, the Securities Investor Protection Corporation or the U.S. Federal Deposit Insurance Corporation, should the financial institutions with which these amounts are invested be rendered insolvent.  As of July 31, 2024, approximately $70.7 million of our cash equivalents is held in a single financial institution at one of the largest banks in Canada and subject to concentration risk. The Company does not consider any of its financial assets to be impaired as of July 31, 2024.