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CAPITAL STOCK (Tables)
 12 Months Ended
Jul. 31, 2017
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]  
Schedule of Share Transactions [Table Text Block]
A summary of the Company’s share transactions for Fiscal 2017, Fiscal 2016, and Fiscal 2015 are as follows:
 
 
 
Common
 
 
Value per Share
 
 
Issuance
 
Period / Description
 
Shares Issued
 
 
Low
 
 
High
 
 
Value
 
Balance, July 31, 2014
 
 
90,966,558
 
 
 
 
 
 
 
 
 
 
 
 
 
Equity Financing
 
 
5,280,045
 
 
 
1.70
 
 
 
2.00
 
 
 
7,659,139
 
Consulting Services
 
 
1,108,390
 
 
 
1.07
 
 
 
2.90
 
 
 
1,851,074
 
Options Exercised (1)
 
 
304,657
 
 
 
0.33
 
 
 
1.32
 
 
 
24,550
 
Share Bonuses
 
 
174,437
 
 
 
1.35
 
 
 
1.35
 
 
 
235,490
 
Balance, July 31, 2015
 
 
97,834,087
 
 
 
 
 
 
 
 
 
 
 
 
 
Equity Financing
 
 
12,364,704
 
 
 
0.85
 
 
 
0.85
 
 
 
9,984,517
 
Credit Facility
 
 
1,711,933
 
 
 
0.83
 
 
 
1.20
 
 
 
1,700,000
 
Asset Acquisition
 
 
1,333,560
 
 
 
0.92
 
 
 
0.92
 
 
 
1,226,875
 
Settlement of Current Liabilities
 
 
487,574
 
 
 
0.93
 
 
 
0.93
 
 
 
453,444
 
Consulting Services
 
 
1,429,650
 
 
 
0.72
 
 
 
1.38
 
 
 
1,372,381
 
Options Exercised
 
 
682,167
 
 
 
0.33
 
 
 
0.33
 
 
 
225,115
 
Shares Issued Under Stock Incentive Plan
 
 
826,782
 
 
 
0.73
 
 
 
1.08
 
 
 
726,244
 
Balance, July 31, 2016
 
 
116,670,457
 
 
 
 
 
 
 
 
 
 
 
 
 
Equity Financing
 
 
17,330,836
 
 
 
1.50
 
 
 
1.50
 
 
 
25,996,254
 
Credit Facility
 
 
738,503
 
 
 
1.49
 
 
 
1.49
 
 
 
1,100,000
 
Asset Acquisition
 
 
61,939
 
 
 
1.35
 
 
 
1.43
 
 
 
87,617
 
Mineral Property
 
 
46,800
 
 
 
1.04
 
 
 
1.04
 
 
 
48,672
 
Settlement of Current Liabilities
 
 
1,015,940
 
 
 
1.03
 
 
 
1.54
 
 
 
1,524,650
 
Consulting Services
 
 
865,386
 
 
 
0.86
 
 
 
1.64
 
 
 
1,107,937
 
Warrants Exercised
 
 
1,989,717
 
 
 
1.20
 
 
 
1.20
 
 
 
2,387,660
 
Options Exercised (2)
 
 
264,727
 
 
 
0.45
 
 
 
1.32
 
 
 
146,448
 
Shares Issued Under Stock Incentive Plan
 
 
830,819
 
 
 
0.88
 
 
 
1.61
 
 
 
946,252
 
Balance, July 31, 2017
 
 
139,815,124
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(1) 535,000 options were exercised on a forfeiture basis resulting in 230,267 net shares issued.
(2) 309,634 options were exercised on a forfeiture basis resulting in 162,227 net shares issued.
Schedule Of Share-based Compensation Warrants Activity [Table Text Block]
A continuity schedule of outstanding share purchase warrants is as follows:
 
 
 
Number of
 
 
Weighted Average
 
 
 
Warrants
 
 
Exercise Price
 
Balance, July 31, 2014
 
 
5,009,524
 
 
$
2.38
 
Issued
 
 
2,850,000
 
 
 
2.35
 
Balance, July 31, 2015
 
 
7,859,524
 
 
 
2.38
 
Issued
 
 
6,594,348
 
 
 
1.20
 
Expired
 
 
(500,000)
 
 
 
1.00
 
Balance, July 31, 2016
 
 
13,953,872
 
 
 
1.65
 
Issued
 
 
9,571,929
 
 
 
2.00
 
Exercised
 
 
(1,989,717)
 
 
 
1.20
 
Expired
 
 
(1,859,524)
 
 
 
2.60
 
Balance, July 31, 2017
 
 
19,676,560
 
 
$
1.78
 
Schedule of Stockholders' Equity Note, Warrants or Rights [Table Text Block]
A summary of share purchase warrants outstanding and exercisable at July 31, 2017 are as follows:
 
Weighted
 
 
 
 
 
 
 
 
Weighted Average
 
Average
 
 
Number of Warrants
 
 
 
 
 
Remaining Contractual
 
Exercise Price
 
 
Outstanding
 
 
Expiry Date
 
 
Life (Years)
 
$
1.20
 
 
 
4,604,631
 
 
March 10, 2019
 
 
 
1.61
 
 
1.35
 
 
 
2,600,000
 
 
January 30, 2020
 
 
 
2.50
 
 
1.95
 
 
 
50,000
 
 
June 3, 2018
 
 
 
0.84
 
 
2.00
 
 
 
9,571,929
 
 
January 20, 2020
 
 
 
2.47
 
 
2.35
 
 
 
2,850,000
 
 
June 25, 2018
 
 
 
0.90
 
$
1.78
 
 
 
19,676,560
 
 
 
 
 
 
2.04
 
Schedule of Share based Compensation Arrangement by Share based Payment Award Options Grants in Period Activity [Table Text Block]
A summary of stock options granted by the Company during Fiscal 2017, including corresponding grant date fair values and assumptions using the Black-Scholes option pricing model, is as follows:
 
 
 
Options
 
 
Exercise
 
 
Term
 
 
Fair
 
 
Expected
 
 
Risk-Free
 
 
Dividend
 
 
Expected
 
Date of Grant
 
Granted
 
 
Price
 
 
(Years)
 
 
Value
 
 
Life (Years)
 
 
Interest Rate
 
 
Yield
 
 
Volatility
 
August 2, 2016
 
 
182,500
 
 
$
0.93
 
 
 
5
 
 
$
90,222
 
 
 
2.90
 
 
 
0.78
%
 
 
0.00
%
 
 
84.14
%
August 12, 2016
 
 
190,000
 
 
 
1.12
 
 
 
5
 
 
 
106,339
 
 
 
2.90
 
 
 
0.81
%
 
 
0.00
%
 
 
78.07
%
December 9, 2016
 
 
50,000
 
 
 
1.07
 
 
 
5
 
 
 
25,999
 
 
 
2.50
 
 
 
1.29
%
 
 
0.00
%
 
 
80.90
%
December 9, 2016
 
 
100,000
 
 
 
1.07
 
 
 
5
 
 
 
53,819
 
 
 
2.90
 
 
 
1.40
%
 
 
0.00
%
 
 
77.87
%
March 13, 2017
 
 
50,000
 
 
 
1.33
 
 
 
5
 
 
 
36,314
 
 
 
2.90
 
 
 
1.65
%
 
 
0.00
%
 
 
85.80
%
April 4, 2017
 
 
50,000
 
 
 
1.35
 
 
 
5
 
 
 
36,785
 
 
 
2.90
 
 
 
1.44
%
 
 
0.00
%
 
 
85.86
%
May 9, 2017
 
 
50,000
 
 
 
1.35
 
 
 
5
 
 
 
35,524
 
 
 
2.90
 
 
 
1.54
%
 
 
0.00
%
 
 
82.10
%
Total
 
 
672,500
 
 
 
 
 
 
 
 
 
 
$
385,002
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]
A continuity schedule of outstanding stock options for the underlying common shares at July 31, 2017, and the changes during the periods, is as follows:
 
 
 
 
 
 
 
 
 
Weighted Average
 
 
 
Number of Stock
 
 
Weighted Average
 
 
Remaining Contractual
 
 
 
Options
 
 
Exercise Price
 
 
Term (Years)
 
Balance, July 31, 2014
 
 
7,987,214
 
 
$
2.10
 
 
 
4.97
 
Granted
 
 
7,640,000
 
 
 
1.32
 
 
 
4.10
 
Exercised
 
 
(609,390)
 
 
 
1.16
 
 
 
3.87
 
Expired
 
 
(15,599)
 
 
 
5.13
 
 
 
-
 
Forfeited
 
 
(126,250)
 
 
 
2.52
 
 
 
6.20
 
Cancelled
 
 
(4,294,000)
 
 
 
2.59
 
 
 
5.59
 
Balance, July 31, 2015
 
 
10,581,975
 
 
 
1.38
 
 
 
3.68
 
Granted
 
 
3,033,000
 
 
 
1.02
 
 
 
4.65
 
Exercised
 
 
(682,167)
 
 
 
0.33
 
 
 
0.01
 
Expired
 
 
(1,950)
 
 
 
5.90
 
 
 
-
 
Forfeited
 
 
(825,000)
 
 
 
1.48
 
 
 
0.02
 
Balance, July 31, 2016
 
 
12,105,858
 
 
 
1.34
 
 
 
3.36
 
Granted
 
 
672,500
 
 
 
1.11
 
 
 
4.24
 
Exercised
 
 
(412,134)
 
 
 
0.56
 
 
 
-
 
Expired
 
 
(100,724)
 
 
 
4.35
 
 
 
-
 
Forfeited
 
 
(5,000)
 
 
 
0.93
 
 
 
-
 
Balance, July 31, 2017
 
 
12,260,500
 
 
$
1.33
 
 
 
2.45
 
Schedule of Share-based Compensation, Shares Authorized under Stock Option Plans, by Exercise Price Range [Table Text Block]
A summary of stock options outstanding and exercisable at July 31, 2017 is as follows:
 
 
 
Options Outstanding
 
 
Options Exercisable
 
 
 
Outstanding at
 
 
Weighted Average
 
 
Exercisable at
 
 
Weighted Average
 
Range of Exercise Prices
 
July 31, 2017
 
 
Exercise Price
 
 
July 31, 2017
 
 
Exercise Price
 
$0.45 to $0.99
 
 
2,980,500
 
 
$
0.79
 
 
 
2,484,750
 
 
$
0.76
 
$1.00 to $1.99
 
 
8,007,500
 
 
 
1.29
 
 
 
7,737,500
 
 
 
1.29
 
$2.00 to $3.86
 
 
1,272,500
 
 
 
2.89
 
 
 
1,272,500
 
 
 
2.89
 
 
 
 
12,260,500
 
 
$
1.33
 
 
 
11,494,750
 
 
$
1.35
 
Schedule Of Stock based Compensation Expense [Table Text Block]
A summary of stock-based compensation expense for Fiscal 2017, Fiscal 2016, and Fiscal 2015 is as follows:
 
 
 
Year Ended July 31,
 
 
 
2017
 
2016
 
2015
 
Stock-Based Compensation for Consultants
 
 
 
 
 
 
 
 
 
 
Common stock issued for consulting services
 
$
1,184,660
 
$
1,630,635
 
$
1,869,074
 
Stock options issued to consultants
 
 
469,815
 
 
78,014
 
 
588,207
 
 
 
 
1,654,475
 
 
1,708,649
 
 
2,457,281
 
Stock-Based Compensation for Management
 
 
 
 
 
 
 
 
 
 
Common stock issued to management
 
 
686,584
 
 
262,130
 
 
105,998
 
Stock options issued to management
 
 
473,811
 
 
735,991
 
 
1,617,937
 
 
 
 
1,160,395
 
 
998,121
 
 
1,723,935
 
Stock-Based Compensation for Employees
 
 
 
 
 
 
 
 
 
 
Common stock issued to employees
 
 
584,837
 
 
205,860
 
 
111,492
 
Stock options issued to employees
 
 
369,663
 
 
171,533
 
 
1,325,040
 
 
 
 
954,500
 
 
377,393
 
 
1,436,532
 
 
 
$
3,769,370
 
$
3,084,163
 
$
5,617,748
 
2017 Offering Warrant [Member]  
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]  
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]
The shares were valued at the Company’s closing price of $1.54 per share at January 20, 2017. The share purchase warrants were valued using the Black-Scholes option pricing model with the following assumptions:
 
Expected Risk Free Interest Rate
 
 
1.50
%
Expected Annual Volatility
 
 
76.96
%
Expected Contractual Life in Years
 
 
3.00
 
Expected Annual Dividend Yield
 
 
0.00
%
Schedule of Stockholders Equity [Table Text Block]
The net proceeds from the January 2017 Offering were allocated to the fair values of the shares and share purchase warrants as presented below:
 
Fair Value of Shares
 
$
26,689,487
 
Fair Value of Share Purchase Warrants
 
 
5,873,932
 
Total Fair Value Before Allocation to Net Proceeds
 
$
32,563,419
 
 
 
 
 
 
Gross Proceeds
 
$
25,996,254
 
Share Issuance Costs - Cash
 
 
(1,550,843)
 
Net Cash Proceeds Received
 
$
24,445,411
 
 
 
 
 
 
Relative Fair Value Allocation to:
 
 
 
 
Shares
 
$
20,035,841
 
Share Purchase Warrants
 
 
4,409,570
 
 
 
$
24,445,411
 
2016 Offering Warrant [Member]  
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]  
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]
The shares were valued at the Company’s closing price of $0.81 per share at March 10, 2016. The share purchase warrants were valued using the Black-Scholes option pricing model with the following assumptions:
 
Expected Risk Free Interest Rate
 
 
1.11
%
Expected Annual Volatility
 
 
74.34
%
Expected Contractual Life in Years
 
 
3.00
 
Expected Annual Dividend Yield
 
 
0.00
%
Schedule of Stockholders Equity [Table Text Block]
The net proceeds from the March 2016 Offering were allocated to the fair value of the shares and share purchase warrants as presented below:
 
Fair Value of Shares
 
$
10,015,410
 
Fair Value of Share Purchase Warrants
 
 
1,938,995
 
Total Fair Value Before Allocation to Net Proceeds
 
$
11,954,405
 
 
 
 
 
 
Gross Proceeds
 
$
10,510,000
 
Share Issuance Costs - Cash
 
 
(525,483)
 
Net Cash Proceeds Received
 
$
9,984,517
 
 
 
 
 
 
Relative Fair Value Allocation to:
 
 
 
 
Shares
 
$
8,365,037
 
Share Purchase Warrants
 
 
1,619,480
 
 
 
$
9,984,517
 
2015 Offering Warrant [Member]  
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]  
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]
The shares were valued at the Company’s closing price of $1.60 at June 25, 2015. The share purchase warrants were valued using the Black-Scholes option pricing model with the following assumptions:
 
Expected Risk Free Interest Rate
 
 
1.06
%
Expected Annual Volatility
 
 
71.23
%
Expected Contractual Life in Years
 
 
3.00
 
Expected Annual Dividend Yield
 
 
0
%
Schedule of Stockholders Equity [Table Text Block]
The net proceeds from the June 2015 Offering were allocated to the fair value of the shares and share purchase warrants as presented below:
 
Fair Value of Shares
 
$
8,000,000
 
Fair Value of Share Purchase Warrants
 
 
1,475,235
 
Total Fair Value Before Allocation to Net Proceeds
 
$
9,475,235
 
 
 
 
 
 
Gross Proceeds
 
$
10,000,000
 
Share Issuance Costs - Cash
 
 
(891,635)
 
Net Cash Proceeds Received
 
$
9,108,365
 
 
 
 
 
 
Relative Fair Value Allocation to:
 
 
 
 
Shares
 
$
7,690,249
 
Share Purchase Warrants
 
 
1,418,116
 
 
 
$
9,108,365