Note 3 - Inventories

3 Months Ended

Oct. 31, 2024

Notes to Financial Statements

Inventory Disclosure [Text Block]

NOTE 3: INVENTORIES

As at October 31, 2024, we held 1,256,000 ( July 31, 2024: 1,466,000) pounds of purchased uranium concentrate inventory.  Costs of inventories consist of the following:

	October 31, 2024		July 31, 2024
Material and supplies	$	359	$	215
In-process inventory		903		-
Uranium concentrates from extraction		178		178
Purchased uranium inventories		64,634		75,440
	$	66,074	$	75,833

As of October 31, 2024, our uranium inventory purchase commitments for the next five fiscal years are as the follows:

	Purchase Commitments
	in Pounds		Purchase Price
Fiscal 2025		400,000	$	16,050
Fiscal 2026		300,000		11,114
Total		700,000	$	27,164

As of October 31, 2024, we were committed to sell 600,000 pounds of uranium inventory in the amount of $49.75 million for delivery between November 2024 to January 2025.

Subsequent to  October 31, 2024:

a) we sold 500,000 pounds of uranium inventory for $41.40 million at a weighted average price of $82.80 per pound; and

b) we entered into contracts to purchase 300,000 pounds of uranium inventory in the amount of $23.43 million at a weighted average price of $78.08 per pound, with delivery in December 2024.