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PROPERTY, PLANT AND EQUIPMENT

3 Months Ended

Oct. 31, 2014

PROPERTY, PLANT AND EQUIPMENT [Text Block]

NOTE 5: PROPERTY, PLANT AND EQUIPMENT

Property, plant and equipment consisted of the following:

		October 31, 2014							July 31, 2014
				Accumulated			Net Book				Accumulated			Net Book
		Cost		Depreciation			Value		Cost		Depreciation			Value
Hobson Processing Facility	$	7,107,717	$	(639,860	)	$	6,467,857	$	7,107,717	$	(595,169	)	$	6,512,548
Mining Equipment		2,587,206		(1,796,678	)		790,528		2,587,206		(1,678,958	)		908,248
Vehicles		1,855,451		(1,619,869	)		235,582		1,855,451		(1,559,850	)		295,601
Computer Equipment		651,615		(576,411	)		75,204		645,622		(551,633	)		93,989
Furniture and Fixtures		182,568		(170,773	)		11,795		182,568		(163,278	)		19,290
Land		175,144		-			175,144		175,144		-			175,144
Leasehold Improvements		1,242		(787	)		455		1,242		(725	)		517
	$	12,560,943	$	(4,804,378	)	$	7,756,565	$	12,554,950	$	(4,549,613	)	$	8,005,337

- Definition

The entire disclosure for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, accounting policies and methodology, roll forwards, depreciation, depletion and amortization expense, including composite depreciation, accumulated depreciation, depletion and amortization expense, useful lives and method used, income statement disclosures, assets held for sale and public utility disclosures.

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