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Note 10 - Asset Retirement Obligations
 6 Months Ended
Jan. 31, 2020
Notes to Financial Statements  
Asset Retirement Obligation Disclosure [Text Block]
NOTE
10
:     ASSET RETIREMENT OBLIGATIONS
 
Asset retirement obligations (“ARO”) relate to future remediation and decommissioning activities at our Palangana Mine, Hobson Processing Facility, Reno Creek Project and Alto Paraná Titanium Project.
 
Balance, July 31, 2019
   $
3,541,082
  
Accretion
    
96,616
  
Balance, January 31, 2020
  
$
3,637,698
 
 
The estimated amounts and timing of cash flows and assumptions used for ARO estimates are as follows:
 
   
January 31, 2020
  
July 31, 2019
Undiscounted amount of estimated cash flows
  
$
8,221,018
 
$
8,221,018 
                 
Payable in years
  
 9
to
21
  
 9
to
 21
Inflation rate
  
 1.56%
to
2.17%
  
 1.56%
to
2.17%
Discount rate
  
 5.50%
to
5.96%
  
 5.50%
to
5.96%
 
The undiscounted amounts of estimated cash flows for the next
five
fiscal years and beyond are as follows:
 
Fiscal 2021
   $
-
  
Fiscal 2022
    
-
  
Fiscal 2023
    
-
  
Fiscal 2024
    
-
  
Fiscal 2025
    
-
  
Remaining balance
    
8,221,018
  
    $
8,221,018