NATURE OF OPERATIONS (Details Textual) - USD ($)	9 Months Ended
	Apr. 30, 2017	Jul. 31, 2016	Apr. 30, 2016	Jul. 31, 2015
Entity Incorporation, Date of Incorporation	May 16, 2003
Working Capital	$ 24,100,000
Cash and Cash Equivalents, at Carrying Value, Total	9,332,492	$ 7,142,571	$ 10,086,805	$ 10,092,408
Short-term Investments	$ 16,000,671	$ 0