ASSET RETIREMENT OBLIGATIONS (Tables)

12 Months Ended

Jul. 31, 2017

Asset Retirement Obligation Disclosure [Abstract]

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

The Company’s asset retirement obligations relate to future remediation and decommissioning activities at the Palangana Mine, Hobson Processing Facility and the Alto Parana Titanium Project pilot plant in Paraguay.

Balance, July 31, 2016	$	3,746,464
Accretion		224,873
Assumed from CIC Acquisition		102,950
Revision in estimate of asset retirement obligations		(344,385)
Balance, July 31, 2017	$	3,729,902

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, 2017		July 31, 2016
Undiscounted amount of estimated cash flows	$	7,098,581	$	6,650,255
Payable in years		5.0 to 17		4.1 to 15
Inflation rate		1.37% to 2.14%		1.15% to 2.25%
Discount rate		5.48% to 6.40%		5.02% 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 2018	$	-
Fiscal 2019		-
Fiscal 2020		-
Fiscal 2021		-
Fiscal 2022		148,391
Remaining balance		6,950,190
	$	7,098,581