Note 14 - Asset Retirement Obligations

12 Months Ended

Jul. 31, 2024

Notes to Financial Statements

Asset Retirement Obligation Disclosure [Text Block]

NOTE 14: ASSET RETIREMENT OBLIGATIONS

Asset retirement obligations (“ARO”s) relate to future remediation and decommissioning activities at our Palangana Mine, Hobson Processing Facility, Reno Creek Project, Alto Paraná Titanium Project, Christensen Ranch Mine and Irigaray Processing Facility pursuant to the U1A Acquisition, as well as the AROs related to the Roughrider Acquisition and the UEX Acquisition.

	July 31, 2024			July 31, 2023
Balance, beginning of year	$	18,670		$	17,276
Accretion		988			949
Assumed from Roughrider Acquisition (Note 4)		-			445
Assumed from UEX Acquisition (Note 3)		-			211
Addition		-			14
Liabilities settled in cash		(33	)		(220	)
Foreign exchange difference		-			(5	)
Balance, end of year	$	19,625		$	18,670
Current asset retirement obligations		(2,953	)		(1,515	)
Non-current assets retirement obligations	$	16,672		$	17,155

The estimated amounts and timing of cash flows and assumptions used for the ARO estimates are as follows:

	July 31, 2024		July 31, 2023
Undiscounted amount of estimated cash flows	$	29,030	$	29,064
Payable in years		1 to 23		1 to 23
Inflation rate		1.56% to 5.32%		1.56% to 5.32%
Discount rate		3.72% to 6.35%		3.72% to 6.35%

The undiscounted amounts of estimated cash flows for the next five years and beyond are as follows:

Fiscal 2025	$	2,953
Fiscal 2026		2,489
Fiscal 2027		2,509
Fiscal 2028		1,990
Fiscal 2029		2,319
Remaining balance		16,770
	$	29,030