Note 7 - Restricted Cash

6 Months Ended

Jan. 31, 2022

Notes to Financial Statements

Restricted Cash [Text Block]

NOTE 7: RESTRICTED CASH

Restricted cash includes cash and cash equivalents and money market funds pledged as collateral for various bonds posted in favor of applicable state regulatory agencies in Arizona, Texas and Wyoming, and for estimated reclamation costs associated with our plants, processing facilities and various projects. Restricted cash will be released upon the completion of reclamation of a plant or a mineral property or the restructuring of a surety and collateral arrangement.

As at January 31, 2022, restricted cash consisted of the following:

	January 31, 2022		July 31, 2021
Restricted cash, beginning of period	$	2,037,677	$	1,839,216
Restricted cash received from U1A Acquisition		13,754,533		-
Additional surety bond collateral		-		198,377
Interest received		64		84
Restricted cash, end of period	$	15,792,274	$	2,037,677

Cash, cash equivalents and restricted cash are included in the following accounts as at  January 31, 2022 and 2021:

	January 31, 2022		January 31, 2021
Cash and cash equivalents	$	22,663,251	$	8,713,193
Restricted cash		15,792,274		1,839,300
Total cash, cash equivalents and restricted cash	$	38,455,525	$	10,552,493

Subsequent to January 31, 2022, we received $1,754,507 as a result of the partial release of surety bond collateral related to the Christensen Ranch Mine and Irigaray Processing Facility.