MINERAL RIGHTS AND PROPERTIES (Tables)

12 Months Ended

Jul. 31, 2017

Mineral rights and property acquisition costs consisted of the following:

	July 31, 2017		July 31, 2016
Mineral Rights and Properties
Palangana Mine	$	6,285,898	$	6,443,028
Goliad Project		8,689,127		8,689,127
Burke Hollow Project		1,495,750		1,495,750
Longhorn Project		116,870		116,870
Salvo Project		14,905		14,905
Nichols Project		-		154,774
Anderson Project		9,154,268		9,154,268
Workman Creek Project		1,520,680		1,472,008
Los Cuatros Project		257,250		257,250
Slick Rock Project		615,650		615,650
Yuty Project		11,947,144		11,947,144
Oviedo Project		1,133,412		1,133,412
Alto Paraná Titanium Project		1,433,030		-
Other Property Acquisitions		91,080		234,248
		42,755,064		41,728,434
Accumulated Depletion		(3,929,884)		(3,929,884)
		38,825,180		37,798,550

Databases		2,410,038		2,410,038
Accumulated Amortization		(2,392,196)		(2,364,019)
		17,842		46,019

Land Use Agreements		404,310		404,310
Accumulated Amortization		(315,356)		(274,928)
		88,954		129,382
	$	38,931,976	$	37,973,951

The estimated depletion and amortization of mineral rights and properties for the next five fiscal years are as follows:

Mineral property expenditures incurred by major projects were as follows:

	Year Ended July 31,
	2017		2016		2015
Mineral Property Expenditures
Palangana Mine	$	880,633	$	1,273,002	$	2,147,293
Goliad Project		114,286		92,588		105,282
Burke Hollow Project		1,020,965		1,034,888		1,316,321
Longhorn Project		32,796		10,149		66,135
Salvo Project		37,551		34,289		54,462
Anderson Project		68,303		178,212		240,519
Workman Creek Project		31,265		32,820		31,702
Slick Rock Project		44,231		53,861		53,313
Yuty Project		365,517		388,840		392,879
Oviedo Project		331,798		569,077		564,501
Alto Paraná Titanium Project (Note 3)		800,023		-		-
Other Mineral Property Expenditures		580,275		701,831		733,673
Revaluation of Asset Retirement Obligations		(187,255)		(308,398)		-
	$	4,120,388	$	4,061,159	$	5,706,080