Note 14 - Segmented Information

6 Months Ended

Jan. 31, 2026

Notes to Financial Statements

Segment Reporting Disclosure [Text Block]

NOTE 14: SEGMENTED 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 our Chief Operating Decision Maker (“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.

	Three months ended January 31, 2026
	Mining												Corporate			Total
Statement of Operations	Wyoming			Texas			Saskatchewan			Others
Sales	$	-		$	-		$	-		$	-		$	20,200		$	20,200
Cost of sales		-			-			-			-			(10,172	)		(10,172	)
Depreciation, amortization and accretion		(1,279	)		(374	)		(46	)		(5	)		(1	)		(1,705	)
Other operating expenses (1)		(14,715	)		(6,017	)		(4,742	)		(336	)		(6,076	)		(31,886	)
Other income (expenses)
Income from equity-accounted investment		-			-			-			-			2,153			2,153
Fair value gain on equity securities		-			-			-			-			4,064			4,064
Interest expense and finance costs		(425	)		(70	)		-			(5	)		-			(500	)
Interest income		-			-			-			-			3,903			3,903
Other items		-			6			5			1			-			12
Income (loss) before income taxes	$	(16,419	)	$	(6,455	)	$	(4,783	)	$	(345	)	$	14,071		$	(13,931	)
Total assets	$	370,760		$	35,624		$	381,387		$	21,014		$	723,863		$	1,532,648
Equity-accounted investments	$	-		$	-		$	-		$	-		$	59,684		$	59,684
Capital additions	$	984		$	533		$	-		$	25		$	-		$	1,542

	Three months ended January 31, 2025
	Mining												Corporate			Total
Statement of Operations	Wyoming			Texas			Saskatchewan			Others
Sales	$	-		$	-		$	-		$	-		$	49,750		$	49,750
Cost of sales		-			-			-			-			(31,524	)		(31,524	)
Depreciation, amortization and accretion		(864	)		(139	)		(39	)		(1	)		(2	)		(1,045	)
Other operating expenses (1)		(10,225	)		(4,120	)		(694	)		(375	)		(5,401	)		(20,815	)
Other income (expenses)
Loss from equity-accounted investment		-			-			-			-			(991	)		(991	)
Fair value loss on equity securities		-			-			-			-			(7,967	)		(7,967	)
Interest expense and finance costs		(259	)		-			-			(5	)		(25	)		(289	)
Interest income		-			-			-			-			1,201			1,201
Other items		-			(11	)		4			2			23			18
Income (loss) before income taxes	$	(11,348	)	$	(4,270	)	$	(729	)	$	(379	)	$	5,064		$	(11,662	)
Total assets	$	364,988		$	24,812		$	369,361		$	20,816		$	201,980		$	981,957
Equity-accounted investments	$	-		$	-		$	-		$	-		$	55,181		$	55,181
Capital additions	$	190,645		$	807		$	-		$	52		$	-		$	191,504

	Six months ended January 31, 2026
	Mining												Corporate			Total
Statement of Operations	Wyoming			Texas			Saskatchewan			Others
Sales	$	-		$	-		$	-		$	-		$	20,200		$	20,200
Cost of sales		-			-			-			-			(10,172	)		(10,172	)
Depreciation, amortization and accretion		(2,389	)		(695	)		(90	)		(7	)		(3	)		(3,184	)
Other operating expenses (1)		(27,677	)		(13,510	)		(6,670	)		(582	)		(11,790	)		(60,229	)
Other income (expenses)
Income from equity-accounted investment		-			-			-			-			2,893			2,893
Fair value gain on equity securities		-			-			-			-			20,085			20,085
Interest expense and finance costs		(766	)		(447	)		-			(10	)		-			(1,223	)
Interest income		-			-			-			-			6,666			6,666
Other items		-			13			9			2			-			24
Income (loss) before income taxes	$	(30,832	)	$	(14,639	)	$	(6,751	)	$	(597	)	$	27,879		$	(24,940	)
Capital additions	$	1,298		$	1,331		$	57		$	81		$	-		$	2,767

	Six months ended January 31, 2025
	Mining												Corporate			Total
Statement of Operations	Wyoming			Texas			Saskatchewan			Others
Sales	$	-		$	-		$	-		$	-		$	66,837		$	66,837
Cost of sales		-			-			-			-			(42,360	)		(42,360	)
Depreciation, amortization and accretion		(1,288	)		(272	)		(75	)		(4	)		(4	)		(1,643	)
Other operating expenses (1)		(15,948	)		(8,452	)		(4,723	)		(839	)		(9,710	)		(39,672	)
Other income (expenses)
Loss from equity-accounted investment		-			-			-			-			(1,467	)		(1,467	)
Fair value loss on equity securities		-			-			-			-			(18,317	)		(18,317	)
Gain on revaluation of derivative liabilities		-			-			-			-			1,706			1,706
Interest expense and finance costs		(402	)		-			-			(10	)		(218	)		(630	)
Interest income		-			-			-			-			2,326			2,326
Other items		-			(167	)		9			3			217			62
Loss before income taxes	$	(17,638	)	$	(8,891	)	$	(4,789	)	$	(850	)	$	(990	)	$	(33,158	)
Capital additions	$	191,333		$	1,178		$	273		$	52		$	-		$	192,836

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

Geographic Information

Long-lived assets (2)	January 31, 2026		July 31, 2025
United States		385,601		384,779
Canada		380,184		377,004
Others		15,457		15,381
		781,242		777,164

⁽²⁾ Long-lived assets include mineral rights and properties and property, plant and equipment.