Note 4 - Mineral Rights and Properties

3 Months Ended

Oct. 31, 2024

Notes to Financial Statements

Mineral Industries Disclosures [Text Block]

NOTE 4: MINERAL RIGHTS AND PROPERTIES

Mineral Rights

As at October 31, 2024, we own mineral rights in the States of Arizona, New Mexico, Texas and Wyoming, in Canada and in the Republic of Paraguay.  These mineral rights were acquired through staking, purchase or lease or option agreements and are subject to varying royalty interests, some of which are indexed to the sale price of uranium.  As of October 31, 2024, annual maintenance payments of approximately $5.93 million will be required to maintain these mineral rights.

As at October 31, 2024, the carrying value of our mineral rights and properties were as follows:

Costs	United States		Canada			Paraguay		Total
Balance, July 31, 2024	$	172,540	$	376,523		$	15,014	$	564,077
Additions		114		-			-		114
Impact of foreign currency translation		-		(1,514	)		-		(1,514	)
Balance, October 31, 2024		172,654		375,009			15,014		562,677

Accumulated Depletion and Amortization	United States			Canada			Paraguay		Total
Balance, July 31, 2024		(6,389	)		(105	)		-		(6,494	)
Additions		(226	)		-			-		(226	)
Impact of foreign currency translation		-			1			-		1
Balance, October 31, 2024		(6,615	)		(104	)		-		(6,719	)
Carrying Value
Balance, July 31, 2024	$	166,151		$	376,418		$	15,014	$	557,583
Balance, October 31, 2024	$	166,039		$	374,905		$	15,014	$	555,958

Mineral property expenditures recorded during the period are as follows:  

	Three Months Ended October 31,
	2024		2023
Permitting and compliance	$	290	$	883
Property maintenance		1,249		985
Exploration		4,917		2,402
Development		4,682		526
Extraction readiness		2,376		890
Total	$	13,514	$	5,686