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Asset Retirement Obligation and Restricted Deposits
12 Months Ended
Jan. 31, 2014
Asset Retirement Obligation Disclosure [Abstract]  
Asset Retirement Obligation Disclosure [Text Block]

Note 5.  Asset Retirement Obligation and Restricted Deposits


Asset retirement obligations relate to legal obligations for site restoration and clean-up costs for exploration drilling activities in Arizona and Wyoming. The Company posts restricted deposits with US government agencies that are legally restricted for the purpose of settling these obligations.


During 2008 and 2009, TUSA carried out the required reclamation work and reseeding of affected areas in Wyoming. During the year ended January 31, 2010, the Wyoming Department of Environmental Quality (WDEQ) inspected the property and subsequently released $575,600 of restricted deposits. Approximately $340,000 of this amount was used to pay annual mineral claim fees, $200,000 was paid to Tournigan Energy, and the balance was used for operations.


During the year ended January 31, 2011, the remaining reclamation work was completed, and $304,400 of restricted deposits was released. Approximately $127,000 of this amount was used to pay annual mineral claim fees, $130,000 was paid to Tournigan Energy, and $47,000 was used for operations.


The balance of restricted deposits at January 31, 2014 and January 31, 2013 respectively were $35,184 and $35,000, which may be released upon future inspection by the Arizona BLM.