RECLAMATION DEPOSITS

12 Months Ended

Jul. 31, 2012

RECLAMATION DEPOSITS [Text Block]

NOTE 7: RECLAMATION DEPOSITS

Reclamation deposits include interest and non-interest bearing deposits issued in the States of Arizona, Texas and Wyoming pursuant to exploration, production and reclamation activities in the respective states. Reclamation deposits consist of the following:

		July 31, 2012		July 31, 2011
Palangana Mine	$	3,135,380	$	2,117,011
Hobson Processing Facility		1,910,494		1,824,350
Mount Lucas		472,823		672,650
Arizona		15,000		15,000
Wyoming		813		811
		5,534,510		4,629,822
Interest (Service Charges)		8,530		(19,522	)
	$	5,543,040	$	4,610,300