Accounts receivable

9 Months Ended

12 Months Ended

Jul. 31, 2021

Oct. 31, 2020

Trade and other current receivables [abstract]

3.	Accounts receivable


	July 31, 2021 $		October 31, 2020 $
Trade receivables		2,877,970		571,300
Harmonized Sales Taxes receivable		378,011		274,998
Other receivables		—		43,931

		3,255,981		890,229

For product sales, the Company estimates the amount of consideration to which it expects to be entitled under provisional pricing arrangements. The amount of consideration for black mass and mixed copper/aluminum sales is based on the mathematical product of: (i) market prices of the constituent metals at the date of settlement, (ii) product weight, and (iii) assay results (ratio of the constituent metals initially estimated by management and subsequently trued up to customer confirmation). Certain adjustments like handling and refining charges are also made per contractual terms with customers. Depending on the contractual terms with customers, the payment of receivables may take up to 12 months from date of shipment. Product sales and the related trade accounts receivables are measured at fair value at initial recognition and are re-estimated at each reporting period end using the market prices of the constituent metals at the respective measurement dates. Changes in fair value are recognized as an adjustment to profit and loss and the related accounts receivable. For the three and

nine months ended July 31, 2021, the fair value gain arising from changes in estimates was

$361,141

and

$529,109

, respectively (three and nine months ended July 31, 2020

: Nil).

An insignificant portion of

the receivables relate to services revenue which are initially measured at fair value and subsequently at amortized cost. For the period ended

July

, 2021 and 2020, the Company has assessed an allowance for credit loss of $nil for service-related receivables based on its past experience, the credit ratings of its existing customers and economic trends.

4.	Accounts receivable


	2020		2019
	$		$
Trade receivables		571,300		32,446
Harmonized Sales Taxes receivable		274,998		447,436
Investment tax credits receivable		—		342,797
Other receivables		43,931		—

		890,229		822,679

For the years ended October 31, 2020 and 2019, the Company has assessed an allowance for credit loss of $nil based on its past experience, the credit ratings of its existing customers and economic trends.


Aging Summary	2020		2019
	$		$
Current		859,753		821,033
1-30 days		—		303
31-60 days		21,455		367
61-90 days		—		—
91 days and over		9,021		976

		890,229		822,679