Note 22 - Segment Information

12 Months Ended

Jul. 31, 2025

Notes to Financial Statements

Segment Reporting Disclosure [Text Block]

NOTE 22: SEGMENT INFORMATION

The Company’s operating segments consist of uranium exploration and mining activities in Wyoming, Texas, Saskatchewan and Others, as well as a corporate segment engaged in investments and the trading of purchased uranium inventory. 

Our Chief Executive Officer who is the CODM evaluates performance and allocates resources for all of the Company’s reportable segments based on income (loss) before income taxes. The CODM uses segment income (loss) before income taxes to allocate resources, including decisions related to capital investment in mining operations and potential expansion opportunities. The significant segment expenses reviewed by the CODM are consistent with the operating expense line items presented in the Company’s consolidated statements of operations.

The Company adopted ASU 2023-07, Segment Reporting (Topic 280), on August 1, 2024. The new segment reporting requirement is applied retrospectively to all prior periods presented in these consolidated financial statements. The tables below present financial information for each of the Company’s reportable segments. All intercompany transactions have been eliminated.

	Year ended July 31, 2025
	Mining												Corporate			Total
Statement of Operations		Wyoming			Texas			Saskatchewan			Others
Sales and service revenue	$	-		$	-		$	-		$	-		$	66,837		$	66,837
Cost of sales and services		-			-			-			-			(42,360	)		(42,360	)
Depreciation, amortization and accretion		(3,485	)		(822	)		(151	)		(7	)		(9	)		(4,474	)
Other operating expenses(1)		(42,895	)		(20,707	)		(8,491	)		(1,190	)		(20,041	)		(93,324	)
Other income (expenses):
Interest expense and finance costs		(1,046	)		-			-			(19	)		(381	)		(1,446	)
Loss from equity-accounted investment		-			-			-			-			(3,352	)		(3,352	)
Fair value loss on equity securities		-			-			-			-			(18,051	)		(18,051	)
Gain on revaluation of derivative liabilities		-			-			-			-			1,706			1,706
Interest income		-			-			2			-			4,020			4,022
Other items		(109	)		(290	)		21			4			381			7
Loss before income taxes	$	(47,535	)	$	(21,819	)	$	(8,619	)	$	(1,212	)	$	(11,250	)	$	(90,435	)
Total assets	$	366,177		$	34,849		$	378,517		$	20,883		$	307,227		$	1,107,653
Equity-accounted investments	$	-		$	-		$	-		$	-		$	55,825		$	55,825
Capital additions	$	191,826		$	3,736		$	273		$	102		$	-		$	195,937

	Year ended July 31, 2024
	Mining												Corporate			Total
Statement of Operations		Wyoming			Texas			Saskatchewan			Others
Sales and service revenue	$	224		$	-		$	-		$	-		$	-		$	224
Cost of sales and services		(187	)		-			-			-			-			(187	)
Depreciation, amortization and accretion		(1,584	)		(500	)		(84	)		(4	)		(11	)		(2,183	)
Other operating expenses(1)		(12,609	)		(12,208	)		(11,706	)		(903	)		(16,830	)		(54,256	)
Other income (expenses):
Interest expense and finance costs		(555	)		-			-			(19	)		(253	)		(827	)
Income (loss) from equity-accounted investment		-			-			(1,440	)		-			2,457			1,017
Fair value gain (loss) on equity securities		-			-			(37	)		-			27,542			27,505
Loss on revaluation of derivative liabilities		-			-			-			-			(8,226	)		(8,226	)
Interest income		-			-			1			-			2,628			2,629
Other items		(30	)		(204	)		19			10			254			49
Income (loss) before income taxes	$	(14,741	)	$	(12,912	)	$	(13,247	)	$	(916	)	$	7,561		$	(34,255	)
Total assets	$	169,740		$	23,776		$	378,368		$	20,789		$	297,155		$	889,828
Equity-accounted investments	$	-		$	-		$	-		$	-		$	58,809		$	58,809
Capital additions	$	646		$	408		$	2,281		$	119		$	3		$	3,457

	Year ended July 31, 2023
	Mining												Corporate			Total
Statement of Operations		Wyoming			Texas			Saskatchewan			Others
Sales and service revenue	$	439		$	-		$	-		$	-		$	163,950		$	164,389
Cost of sales and services		(367	)		-			-			-			(114,352	)		(114,719	)
Depreciation, amortization and accretion		(1,526	)		(460	)		(3	)		(6	)		(12	)		(2,007	)
Other operating expenses(1)		(7,143	)		(7,786	)		(5,134	)		(1,596	)		(17,025	)		(38,684	)
Impairment loss on mineral properties		-			-			(112	)		-			-			(112	)
Other income (expenses):
Interest expense and finance costs		-			-			(563	)		(19	)		(223	)		(805	)
Income (loss) from equity-accounted investment		-			-			(2,062	)		-			1,068			(994	)
Fair value loss on equity securities		-			-			(19	)		-			(13,064	)		(13,083	)
Gain on revaluation of derivative liabilities		-			-			-			-			3,293			3,293
Interest income		-			-			36			-			314			350
Other items		(545	)		(183	)		1,015			2			(354	)		(65	)
Income (loss) before income taxes	$	(9,142	)	$	(8,429	)	$	(6,842	)	$	(1,619	)	$	23,595		$	(2,437	)
Total assets	$	169,706		$	23,500		$	386,356		$	20,658		$	137,369		$	737,589
Equity-accounted investments	$	-		$	-		$	-		$	-		$	48,110		$	48,110
Capital additions	$	62		$	355		$	386,684		$	100		$	15		$	387,216

⁽¹⁾ Other operating expenses include mineral property expenditures and general and administrative expenses.