Note 4 - Inventories

6 Months Ended

Jan. 31, 2022

Notes to Financial Statements

Inventory Disclosure [Text Block]

NOTE 4: INVENTORIES

During the six months ended January 31, 2022, we received 600,000 pounds of uranium concentrate inventories, and entered into agreements to purchase additional 700,000 pounds of uranium concentrate inventories under our physical uranium program (the “Physical Uranium Program”).

As at January 31, 2022, costs of inventories consisted of the following:

	January 31, 2022		July 31, 2021
Material and supplies	$	227,466	$	33,781
Uranium concentrates from production		177,881		177,881
Purchased uranium inventories		39,826,643		28,960,818
	$	40,231,990	$	29,172,480

As of January 31, 2022, our uranium inventory purchase commitments for the next five fiscal years are as the follows:

	Purchase Commitments in Pounds		Total Purchase Price
Fiscal 2022		300,000	$	9,080,000
Fiscal 2023		1,505,000		53,134,000
Fiscal 2024		495,000		16,913,250
Fiscal 2025		400,000		14,130,000
Fiscal 2026		100,000		3,620,000
Total		2,800,000	$	96,877,250

Subsequent to January 31, 2022, we received 200,000 pounds of uranium concentrate inventories for a total purchase price of $6,000,000.

Subsequent to January 31, 2022, we entered into agreements to purchase 700,000 pounds of uranium concentrate inventories under our Physical Uranium Program for a total purchase price of $35,570,000 with delivery dates from March 2022 to November 2024.