ASSET RETIREMENT OBLIGATIONS (Tables)

12 Months Ended

Jul. 31, 2016

Asset Retirement Obligation Disclosure [Abstract]

Schedule of Change in Asset Retirement Obligation [Table Text Block]

Balance, July 31, 2015	$	3,926,846
Revision in estimate of asset retirement obligations		(452,505)
Accretion		272,123
Balance, July 31, 2016	$	3,746,464

Schedule Of Estimated Cash flow and Assumption Used For ARO [Table Text Block]

The estimated amounts and timing of cash flows and assumptions used for the ARO estimates are as follows:

	July 31, 2016		July 31, 2015
Undiscounted amount of estimated cash flows	$	6,650,255	$	6,600,868
Payable in years		4.1 to 15		2.5 to 15
Inflation rate		1.15% to 2.25%		2.02% to 2.25%
Discount rate		5.02% to 8.00%		6.56% to 8.00%

Schedule Of Undiscounted Amounts Of Estimated Cash Flows [Table Text Block]

The undiscounted amounts of estimated cash flows for the next five years and beyond are as follows:

Fiscal 2017	$	-
Fiscal 2018		-
Fiscal 2019		139,052
Fiscal 2020		414,058
Fiscal 2021		667,984
Remaining balance		5,429,161
	$	6,650,255