Uranium Energy (UEC) 10-Q 11 Mar 16 2016 Q2 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	6 Months Ended
	Jan. 31, 2016	Mar. 07, 2016
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jan. 31, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q2
Entity Registrant Name	URANIUM ENERGY CORP
Entity Central Index Key	1,334,933
Current Fiscal Year End Date	--07-31
Entity Filer Category	Accelerated Filer
Trading Symbol	UEC
Entity Common Stock, Shares Outstanding		103,288,951

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)	Jan. 31, 2016	Jul. 31, 2015
CURRENT ASSETS
Cash and cash equivalents	$ 2,406,123	$ 10,092,408
Inventories	251,999	251,999
Prepaid expenses and deposits	612,873	444,500
Other current assets	18,975	18,711
Total Current Assets	3,289,970	10,807,618
MINERAL RIGHTS AND PROPERTIES	38,222,501	38,437,967
PROPERTY, PLANT AND EQUIPMENT	6,763,965	6,948,647
RECLAMATION DEPOSITS	1,706,026	1,706,025
Total Assets	49,982,462	57,900,257
CURRENT LIABILITIES
Accounts payable and accrued liabilities	1,902,821	2,538,544
Due to related parties	62,125	14,660
Current portion of long-term debt	11,666,667	1,666,667
Current portion of asset retirement obligations	0	340,827
Total Current Liabilities	13,631,613	4,560,698
DEFERRED INCOME TAX LIABILITIES	661,534	676,064
LONG-TERM DEBT	7,874,201	18,090,811
ASSET RETIREMENT OBLIGATIONS	3,874,345	3,586,019
Total Liabilities	26,041,693	26,913,592
STOCKHOLDERS' EQUITY
Capital stock Common stock $0.001 par value: 750,000,000 shares authorized, 100,229,880 shares issued and outstanding (July 31, 2015 - 97,834,087)	100,232	97,841
Additional paid-in capital	225,753,199	222,927,529
Accumulated deficit	(201,897,613)	(192,024,074)
Accumulated other comprehensive loss	(15,049)	(14,631)
Total Stockholders' Equity	23,940,769	30,986,665
Total Liabilities and Stockholders' Equity	$ 49,982,462	$ 57,900,257

CONDENSED CONSOLIDATED BALANCE3

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Jan. 31, 2016	Jul. 31, 2015
Common Stock, Par Value (in dollars per share)	$ 0.001	$ 0.001
Common Stock, Shares Authorized	750,000,000	750,000,000
Common Stock, Shares Issued	100,229,880	97,834,087
Common Stock, Shares Outstanding	100,229,880	97,834,087

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS - USD ($)	3 Months Ended		6 Months Ended
	Jan. 31, 2016	Jan. 31, 2015	Jan. 31, 2016	Jan. 31, 2015
SALES	$ 0	$ 0	$ 0	$ 0
COSTS AND EXPENSES
Cost of sales	0	0	0	0
Mineral property expenditures	893,825	1,254,268	2,682,845	3,514,399
General and administrative	2,805,811	3,366,449	5,081,204	6,544,037
Depreciation, amortization and accretion	232,186	489,484	475,085	1,066,726
Impairment loss on mineral properties	86,535	0	86,535	0
Total Operating Expenses	4,018,357	5,110,201	8,325,669	11,125,162
LOSS FROM OPERATIONS	(4,018,357)	(5,110,201)	(8,325,669)	(11,125,162)
OTHER INCOME (EXPENSES)
Interest income	2,714	3,286	7,249	8,006
Interest and finance costs	(789,770)	(767,854)	(1,567,463)	(1,505,343)
Loss on disposition of assets	(2,186)	(2,898)	(2,186)	(2,898)
Total Non-Operating Income Expense	(789,242)	(767,466)	(1,562,400)	(1,500,235)
LOSS BEFORE INCOME TAXES	(4,807,599)	(5,877,667)	(9,888,069)	(12,625,397)
DEFERRED INCOME TAX BENEFIT	6,094	2,127	14,530	23,630
NET LOSS FOR THE PERIOD	(4,801,505)	(5,875,540)	(9,873,539)	(12,601,767)
OTHER COMPREHENSIVE LOSS, NET OF INCOME TAXES	(219)	(1,448)	(418)	(1,672)
TOTAL COMPREHENSIVE LOSS FOR THE PERIOD	$ (4,801,724)	$ (5,876,988)	$ (9,873,957)	$ (12,603,439)
NET LOSS PER SHARE, BASIC AND DILUTED (in dollars per share)	$ (0.05)	$ (0.06)	$ (0.10)	$ (0.14)
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING, BASIC AND DILUTED (in shares)	99,644,030	91,746,410	99,105,173	91,513,626

CONDENSED CONSOLIDATED STATEME5

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	6 Months Ended
	Jan. 31, 2016	Jan. 31, 2015
CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES
Net loss for the period	$ (9,873,539)	$ (12,601,767)
Adjustments to reconcile net loss to cash flows in operating activities
Stock-based compensation	1,688,791	3,310,666
Depreciation, amortization and accretion	475,085	1,066,726
Amortization of long-term debt discount	683,390	658,404
Re-valuation of asset retirement obligations	(184,381)	0
Impairment loss on mineral properties	86,535	0
Loss on disposition of assets	2,186	2,898
Deferred income tax benefit	(14,530)	(23,630)
Changes in operating assets and liabilities
Inventories	0	(162,035)
Prepaid expenses and deposits	(168,373)	(91,660)
Other current assets	(682)	402
Accounts payable and accrued liabilities	(635,725)	(955,612)
NET CASH FLOWS USED IN OPERATING ACTIVITIES	(7,941,243)	(8,795,608)
CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES
Shares issuance for cash, net of issuance costs	225,115	431,590
Due to related parties	47,465	(6,317)
NET CASH FLOWS PROVIDED BY FINANCING ACTIVITIES	272,580	425,273
CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES
Investment in mineral rights and properties	0	(73,624)
Purchase of property, plant and equipment	(18,439)	(5,993)
Proceeds from disposition of assets	818	0
Cash proceeds from the release of reclamation deposits	0	5,663,158
Payment of collateral for surety bonds	0	(1,690,208)
Decrease in reclamation deposits	(1)	(346)
NET CASH FLOWS USED IN (PROVIDED BY) INVESTING ACTIVITIES	(17,622)	3,892,987
NET CASH FLOWS	(7,686,285)	(4,477,348)
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD	10,092,408	8,839,892
CASH AND CASH EQUIVALENTS, END OF PERIOD	$ 2,406,123	$ 4,362,544

CONDENSED CONSOLIDATED STATEME6

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - 6 months ended Jan. 31, 2016 - USD ($)	Total	Common Stock [Member]	Additional Paid-in Capital [Member]	Accumulated Deficit [Member]	Accumulated Other Comprehensive Loss [Member]
Balance at Jul. 31, 2015	$ 30,986,665	$ 97,841	$ 222,927,529	$ (192,024,074)	$ (14,631)
Balance (in shares) at Jul. 31, 2015		97,834,087
Common stock Issued for debt facility as bonus shares	900,000	$ 752	899,248	0	0
Common stock Issued for debt facility as bonus shares (in shares)		752,320
Common stock Issued for exercise of stock options	225,115	$ 682	224,433	0	0
Common stock Issued for exercise of stock options (in shares)		682,167
Stock-based compensation Common stock issued for consulting services	913,775	$ 857	912,918	0	0
Stock-based compensation Common stock issued for consulting services (in shares)		856,403
Stock-based compensation Common stock issued for compensation	111,499	$ 100	111,399	0	0
Stock-based compensation Common stock issued for compensation (in shares)		104,903
Stock-based compensation Stock options issued to consultants	70,778	$ 0	70,778	0	0
Stock-based compensation Stock options issued to management	445,325	0	445,325	0	0
Stock-based compensation Stock options issued to employees	147,414	0	147,414	0	0
Stock-based compensation Warrants extension for mineral property	14,155	0	14,155	0	0
Net loss for the period	(9,873,539)	0	0	(9,873,539)	0
Other comprehensive loss	(418)	0	0	0	(418)
Balance at Jan. 31, 2016	$ 23,940,769	$ 100,232	$ 225,753,199	$ (201,897,613)	$ (15,049)
Balance (in shares) at Jan. 31, 2016		100,229,880

NATURE OF OPERATIONS AND GOING

NATURE OF OPERATIONS AND GOING CONCERN	6 Months Ended
	Jan. 31, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]	NOTE 1: NATURE OF OPERATIONS AND GOING CONCERN Uranium Energy Corp. was incorporated in the State of Nevada May 16, 2003 Although planned principal operations have commenced from which significant revenues from sales of uranium concentrates were realized for the fiscal years ended July 31, 2015 (“Fiscal 2015”), 2013 (“Fiscal 2013”) and 2012 (“Fiscal 2012”), the Company has yet to achieve profitability and has had a history of operating losses resulting in an accumulated deficit balance since inception. No revenue from uranium sales was realized for the six months ended January 31, 2016 and the fiscal year ended July 31, 2014 (“Fiscal 2014”). Historically, the Company has been reliant primarily on equity financings from the sale of its common stock and, during Fiscal 2014 and 2013, on debt financing in order to fund its operations, and this reliance is expected to continue for the foreseeable future. At January 31, 2016, the Company had a working capital deficiency of $ 10,341,643 2,406,123 11,666,667 20,000,000 July 31, 2016 February 1, 2019 Subsequent to January 31, 2016, on March 10, 2016, the Company completed a registered offering of 12,364,704 0.85 10.5 As the Company does not expect to achieve and maintain profitability in the near term, the continuation of the Company as a going concern is dependent upon its ability to obtain adequate additional financing which the Company has successfully secured since its inception, including those from asset divestitures. However, there is no assurance that the Company will be successful in securing any form of additional financing in the future when required and on terms favorable to the Company, therefore substantial doubt exist as to whether the Company’s cash resources and working capital will be sufficient to enable the Company to continue as a going concern for the next twelve months. The continued operations of the Company, including the recoverability of the carrying values of its assets, are dependent ultimately on the Company’s ability to achieve and maintain profitability and positive cash flow from its operations. T hese consolidated financial statements have been prepared on a going concern basis and do not include any adjustments to the amounts and classification of assets and liabilities that may be necessary in the event the Company can no longer continue as a going concern.

BASIS OF PRESENTATION

BASIS OF PRESENTATION	6 Months Ended
	Jan. 31, 2016
Accounting Policies [Abstract]
Business Description and Basis of Presentation [Text Block]	NOTE 2: BASIS OF PRESENTATION The accompanying unaudited interim condensed consolidated financial statements are presented in U.S. dollars and have been prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”) for interim financial information. Accordingly, they do not include all of the information and footnotes required under U.S. GAAP for complete financial statements. These unaudited interim condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements included in the Company’s Annual Report on Form 10-K for the fiscal year ended July 31, 2015. In the opinion of management, all adjustments of a normal recurring nature and considered necessary for a fair presentation have been made. Operating results for the six months ended January 31, 2016 are not necessarily indicative of the results that may be expected for the fiscal year ending July 31, 2016. Certain comparative figures have been reclassified to conform to the current year’s presentation. Exploration Stage The Company has established the existence of mineralized materials for certain uranium projects, including the Palangana Mine. The Company has not established proven or probable reserves, as defined by the United States Securities and Exchange Commission (the “SEC”) under Industry Guide 7, through the completion of a “final” or “bankable” feasibility study for any of its uranium projects, including the Palangana Mine. Furthermore, the Company has no plans to establish proven or probable reserves for any of its uranium projects for which the Company plans on utilizing in-situ recovery (“ISR”) mining, such as the Palangana Mine. As a result, and despite the fact that the Company commenced extraction of mineralized materials at the Palangana Mine in November 2010, the Company remains in the Exploration Stage as defined under Industry Guide 7, and will continue to remain in the Exploration Stage until such time proven or probable reserves have been established. Since the Company commenced extraction of mineralized materials at the Palangana Mine without having established proven or probable reserves, any mineralized materials established or extracted from the Palangana Mine should not in any way be associated with having established or produced from proven or probable reserves. In accordance with U.S. GAAP, expenditures relating to the acquisition of mineral rights are initially capitalized as incurred while exploration and pre-extraction expenditures are expensed as incurred until such time the Company exits the Exploration Stage by establishing proven or probable reserves. Expenditures relating to exploration activities such as drill programs to establish mineralized materials are expensed as incurred. Expenditures relating to pre-extraction activities such as the construction of mine wellfields, ion exchange facilities and disposal wells are expensed as incurred until such time proven or probable reserves are established for that project, after which expenditures relating to mine development activities for that particular project are capitalized as incurred. Companies in the Production Stage as defined under Industry Guide 7, having established proven and probable reserves and exited the Exploration Stage, typically capitalize expenditures relating to ongoing development activities, with corresponding depletion calculated over proven and probable reserves using the units-of-production method and allocated to future reporting periods to inventory and, as that inventory is sold, to cost of goods sold. The Company is in the Exploration Stage which has resulted in the Company reporting larger losses than if it had been in the Production Stage due to the expensing, rather than capitalization, of expenditures relating to ongoing mill and mine development activities. Additionally, there would be no corresponding amortization allocated to future reporting periods of the Company since those costs would have been expensed previously, resulting in both lower inventory costs and cost of goods sold and results of operations with higher gross profits and lower losses than if the Company had been in the Production Stage. Any capitalized costs, such as expenditures relating to the acquisition of mineral rights, are depleted over the estimated extraction life using the straight-line method. As a result, the Company’s consolidated financial statements may not be directly comparable to the financial statements of companies in the Production Stage.

MINERAL RIGHTS AND PROPERTIES

MINERAL RIGHTS AND PROPERTIES	6 Months Ended
	Jan. 31, 2016
Mineral Industries Disclosures [Abstract]
Mineral Industries Disclosures [Text Block]	NOTE 3: MINERAL RIGHTS AND PROPERTIES Mineral Rights At January 31, 2016, the Company had mineral rights in the States of Arizona, Colorado, New Mexico, Texas and Wyoming and in the Republic of Paraguay. These mineral rights were acquired through staking, purchase or lease agreements and are subject to varying royalty interests, some of which are indexed to the sale price of uranium. At January 31, 2016, annual maintenance payments of approximately $ 1,085,000 January 31, 2016 July 31, 2015 Mineral Rights and Properties Palangana Mine $ 6,562,348 $ 6,587,135 Goliad Project 8,689,127 8,689,127 Burke Hollow Project 1,495,750 1,495,750 Longhorn Project 116,870 116,870 Salvo Project 14,905 14,905 Nichols Project 154,774 154,774 Anderson Project 9,154,268 9,154,268 Workman Creek Project 1,472,008 1,472,008 Los Cuatros Project 257,250 257,250 Slick Rock Project 615,650 661,271 Yuty Project 11,947,144 11,947,144 Coronel Oviedo Project 1,133,412 1,133,412 Other Property Acquisitions 244,827 285,741 41,858,333 41,969,655 Accumulated Depletion (3,929,884) (3,929,884) 37,928,449 38,039,771 Databases 2,410,038 2,410,038 Accumulated Amortization (2,265,582) (2,166,966) 144,456 243,072 Land Use Agreements 404,310 390,155 Accumulated Amortization (254,714) (235,031) 149,596 155,124 $ 38,222,501 $ 38,437,967 The Company has not established proven or probable reserves, as defined by the SEC under Industry Guide 7, for any of its mineral projects. The Company has established the existence of mineralized materials for certain uranium projects, including the Palangana Mine. Since the Company commenced uranium extraction at the Palangana Mine without having established proven or probable reserves, there may be greater inherent uncertainty as to whether or not any mineralized material can be economically extracted as originally planned and anticipated. During the three months ended January 31, 2016, the asset retirement obligations (“ARO”) of the Palangana Mine were revised due to changes in the estimated timing of restoration and reclamation of the Palangana Mine, resulting in the corresponding mineral rights and properties being reduced by $ 24,787 184,381 During the three months ended January 31, 2016, the Company abandoned certain mineral interests at the projects located in Colorado and New Mexico having a combined acquisition cost of $ 86,535 86,535 During the three and six months ended January 31, 2016, the Company continued with the strategic plan for reduced operations implemented in Fiscal 2014 and further reduced operations at the Palangana Mine to capture residual uranium only. As a result, no depletion for the Palangana Mine was recorded on the Company’s consolidated financial statements for the three and six months ended January 31, 2016. Three Months Ended January 31, Six Months Ended January 31, 2016 2015 2016 2015 Mineral Property Expenditures Palangana Mine $ 366,131 $ 688,196 $ 751,280 $ 1,120,856 Goliad Project 24,022 20,036 44,831 54,293 Burke Hollow Project 204,708 159,981 926,252 1,140,548 Longhorn Project 781 19,477 4,373 30,723 Salvo Project 2,912 2,039 17,075 22,839 Anderson Project 55,083 29,250 167,216 123,422 Workman Creek Project 1,001 - 31,691 31,300 Slick Rock Project 5,036 - 53,861 49,784 Yuty Project 91,526 40,872 202,543 259,761 Coronel Oviedo Project 153,833 151,178 286,732 295,762 Other Mineral Property Expenditures 173,173 143,239 381,372 385,111 Re-valuation of Asset Retirement Obligations (184,381) - (184,381) - $ 893,825 $ 1,254,268 $ 2,682,845 $ 3,514,399

PROPERTY, PLANT AND EQUIPMENT

PROPERTY, PLANT AND EQUIPMENT	6 Months Ended
	Jan. 31, 2016
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment Disclosure [Text Block]	NOTE 4: PROPERTY, PLANT AND EQUIPMENT January 31, 2016 July 31, 2015 Accumulated Net Book Accumulated Net Book Cost Depreciation Value Cost Depreciation Value Hobson Processing Facility $ 6,819,088 $ (773,933) $ 6,045,155 $ 6,819,088 $ (773,933) $ 6,045,155 Mining Equipment 2,440,105 (2,140,350) 299,755 2,452,572 (2,019,996) 432,576 Logging Equipment and Vehicles 1,962,895 (1,766,587) 196,308 1,962,895 (1,714,908) 247,987 Computer Equipment 584,568 (542,068) 42,500 615,064 (573,355) 41,709 Furniture and Fixtures 172,215 (167,112) 5,103 182,802 (176,726) 6,076 Land 175,144 - 175,144 175,144 - 175,144 $ 12,154,015 $ (5,390,050) $ 6,763,965 $ 12,207,565 $ (5,258,918) $ 6,948,647 During the three and six months ended January 31, 2016, no uranium concentrate was processed at the Hobson Processing Facility due to the further reduced operations at the Palangana Mine. As a result, no depreciation for the Hobson Processing Facility was recorded on the consolidated financial statements for the three and six months ended January 31, 2016.

RECLAMATION DEPOSITS

RECLAMATION DEPOSITS	6 Months Ended
	Jan. 31, 2016
RECLAMATION DEPOSITS [Abstract]
Reclamation Deposits [Text Block]	NOTE 5: RECLAMATION DEPOSITS Reclamation deposits include interest and non-interest bearing deposits issued in the States of Arizona, Texas and Wyoming relating to exploration, pre-extraction, extraction and reclamation activities in the respective states where the deposits are held. January 31, 2016 July 31, 2015 Palangana Mine $ 1,102,981 $ 1,102,981 Hobson Processing Facility 587,228 587,228 Arizona 15,000 15,000 Wyoming 817 816 $ 1,706,026 $ 1,706,025

DUE TO RELATED PARTIES AND RELA

DUE TO RELATED PARTIES AND RELATED PARTY TRANSACTIONS	6 Months Ended
	Jan. 31, 2016
Related Party Transactions [Abstract]
Related Party Transactions Disclosure [Text Block]	NOTE 6: DUE TO RELATED PARTIES AND RELATED PARTY TRANSACTIONS During the three and six months ended January 31, 2016, the Company incurred $ 68,469 98,593 33,524 72,658 15,000 18,150 At January 31, 2016, amounts owed to related parties totaled $ 62,125 14,660

LONG-TERM DEBT

LONG-TERM DEBT	6 Months Ended
	Jan. 31, 2016
Debt Disclosure [Abstract]
Long-term Debt [Text Block]	NOTE 7: LONG-TERM DEBT January 31, 2016 July 31, 2015 Principal amount $ 20,000,000 $ 20,000,000 Unamortized discount (459,132) (242,522) Long-term debt, net of unamortized discount 19,540,868 19,757,478 Current portion 11,666,667 1,666,667 Long-term debt, net of current portion $ 7,874,201 $ 18,090,811 At January 31, 2016, the current portion of long-term debt totaled $ 11,666,667 monthly 1,666,667 For the three and six months ended January 31, 2016 and 2015, the amortization of debt discount totaled $ 347,723 683,390 334,997 658,404 During the six months ended January 31, 2016, the Company paid bonus shares to its lenders through the issuance of 752,320 900,000 20,000,000 Subsequent to January 31, 2016 and pursuant to the Company’s Second Amended and Restated Credit Agreement dated and effective February 9, 2016 (the “Second Amended Credit Facility”), which supersedes in their entirety, the prior Amended and Restated Credit Agreement dated and effective March 13, 2014 and the prior Credit Agreement dated and effective July 30, 2013, the Company and the lenders, including Sprott Resource Lending Partnership, CEF (Capital Markets) Limited and Resource Income Partners Limited Partnership (collectively, the “Lenders”), agreed to certain further amendments to the $ 20,000,000 ⋅ extension of the maturity date from July 31, 2017 to January 1, 2020; ⋅ deferral of the monthly principal payments (each of which is equal to one twelfth of the principal balance then outstanding) commencement date from July 31, 2016 to February 1, 2019; ⋅ re-pricing and extension of the existing bonus warrants comprised of 2,600,000 2.50 1.35 ⋅ issuance of second extension fee shares equal to 4 800,000 959,613 10 ⋅ payment of second extension anniversary fees to the Lenders on each of February 1, 2017, 2018 and 2019, of 5.5 4.5 4.5 ⋅ maintenance at all times of a working capital ratio of not less than 1:1 Under the terms of the Second Amended Credit Facility, the Facility Amount remains non-revolving with interest calculated at a rate of 8

ASSET RETIREMENT OBLIGATIONS

ASSET RETIREMENT OBLIGATIONS	6 Months Ended
	Jan. 31, 2016
Asset Retirement Obligation Disclosure [Abstract]
Asset Retirement Obligation Disclosure [Text Block]	ASSET RETIREMENT OBLIGATIONS The Company’s asset retirement obligations relate to future remediation and decommissioning activities at the Palangana Mine and Hobson Processing Facility. Balance, July 31, 2015 $ 3,926,846 Revision in estimate of asset retirement obligations (209,168) Accretion 156,667 Balance, January 31, 2016 $ 3,874,345 During the three months ended January 31, 2016, the ARO of the Palangana Mine were revised due to changes in the estimated timing of restoration and reclamation of the Palangana Mine. As a result, ARO liabilities associated with the Palangana Mine were reduced by $ 209,168 24,787 184,381 January 31, 2016 July 31, 2015 Undiscounted amount of estimated cash flows $ 6,650,255 $ 6,600,868 Payable in years 2.1 to 15 2.5 to 15 Inflation rate 0.90% to 2.25% 2.02% to 2.25% Discount rate 5.15% to 8.00% 6.56% to 8.00% Fiscal 2016 $ - Fiscal 2017 139,052 Fiscal 2018 414,058 Fiscal 2019 667,984 Fiscal 2020 620,673 Remaining balance 4,808,488 $ 6,650,255

CAPITAL STOCK

CAPITAL STOCK	6 Months Ended
	Jan. 31, 2016
Stockholders' Equity Note [Abstract]
Stockholders' Equity Note Disclosure [Text Block]	CAPITAL STOCK Equity Financing During Fiscal 2014, the Company filed a Form S-3 “Shelf” Registration Statement effective January 10, 2014 (the “2014 Shelf”) providing for the public offer and sale of certain securities of the Company from time to time, at its discretion, up to an aggregate offering of $ 100 Subsequent to January 31, 2016, on March 10, 2016, the Company completed a registered offering of 12,364,704 0.85 10,510,000 1.20 Share Transactions Common Value Per Share Issuance Period/Description Shares Issued Low High Value Balance, July 31, 2015 97,834,087 Bonus Shares for Debt Facility 752,320 $ 1.20 $ 1.20 $ 900,000 Consulting Services 274,982 1.03 1.38 305,594 Share Compensation 33,315 1.00 1.12 35,264 Balance, October 31, 2015 98,894,704 Consulting Services 586,138 0.72 1.12 613,179 Share Compensation 66,871 1.06 1.08 71,236 Options Exercised 682,167 0.33 0.33 225,115 Balance, January 31, 2016 100,229,880 Share Purchase Warrants Weighted Weighted Average Average Number of Warrants Remaining Contractual Exercise Price Outstanding Expiry Date Life (Years) $ 1.00 500,000 March 1, 2016 0.08 1.95 50,000 June 3, 2018 2.34 2.35 2,850,000 June 25, 2018 2.40 2.50 2,600,000 July 30, 2018 2.49 2.60 1,859,524 October 23, 2016 0.73 $ 2.37 7,859,524 1.89 Stock Options At January 31, 2016, the Company had one stock option plan, the 2015 Stock Incentive Plan (the “2015 Plan”). The 2015 Plan provides for up to 9,600,250 10,569,301 Options Exercise Term Fair Expected Risk-Free Dividend Expected Date Issued Price (Years) Value Life (Years) Interest Rate Yield Volatility August 7, 2015 105,000 $ 1.32 5 $ 68,824 2.90 1.04 % 0.00 % 77.17 % October 14, 2015 1,000,000 1.14 5 563,195 2.90 0.81 % 0.00 % 77.01 % January 12, 2016 300,000 0.98 5 145,902 2.90 1.15 % 0.00 % 76.96 % Total 1,405,000 $ 777,921 A continuity schedule of outstanding stock options for the underlying common shares for the six months ended January 31, 2016 is as follows: Number of Stock Options Weighted Average Exercise Price Balance, July 31, 2015 10,581,975 $ 1.38 Issued 1,105,000 1.16 Forfeited (5,000) 1.32 Balance, October 31, 2015 11,681,975 1.36 Issued 300,000 0.98 Exercised (682,167) 0.33 Forfeited (180,000) 1.32 Expired (1,950) 5.90 Balance, January 31, 2016 11,117,858 $ 1.42 At January 31, 2016, the aggregate intrinsic value under the provisions of ASC 718 of all outstanding stock options was estimated at $ 622,513 622,513 At January 31, 2016, unrecognized stock-based compensation expense related to the unvested portion of stock options granted under the Company’s 2015 Plan totaled $ 453,565 0.72 Options Outstanding Options Exercisable Weighted Average Weighted Average Weighted Remaining Weighted Remain ing Range of Outstanding at Average Contractual Term Exercisable at Average Contractual Term Exercise Prices January 31, 2016 Exercise Price (Years) January 31, 2016 Exercise Price (Years) $0.45 to $0.96 1,269,634 $ 0.47 1.80 1,269,634 $ 0.47 1.80 $0.97 to $2.45 8,897,500 1.35 3.78 6,071,250 1.40 3.65 $2.46 to $5.70 950,724 3.30 4.33 950,724 3.30 4.33 11,117,858 $ 1.42 3.60 8,291,608 $ 1.48 3.44 Stock-Based Compensation Three Months Ended January 31 Six Months Ended January 31 2016 2015 2016 2015 Stock-Based Compensation for Consultants Common stock issued for consulting services $ 633,180 $ 547,094 $ 958,775 $ 877,425 Stock options issued to consultants 62,143 274,056 70,778 374,435 695,323 821,150 1,029,553 1,251,860 Stock-Based Compensation for Management Common stock issued to management 20,932 - 36,196 - Stock options issued to management 265,010 589,003 445,325 1,161,279 285,942 589,003 481,521 1,161,279 Stock-Based Compensation for Employees Common stock issued to employees 30,303 - 30,303 - Stock options issued to employees 50,781 446,217 147,414 897,527 81,084 446,217 177,717 897,527 $ 1,062,349 $ 1,856,370 $ 1,688,791 $ 3,310,666

LOSS PER SHARE

LOSS PER SHARE	6 Months Ended
	Jan. 31, 2016
Earnings Per Share [Abstract]
Earnings Per Share [Text Block]	NOTE 10: LOSS PER SHARE Three Months Ended January 31, Six Months Ended Janaury 31, 2016 2015 2016 2015 Numerator Net Loss for the Period $ (4,801,505) $ (5,875,540) $ (9,873,539) $ (12,601,767) Denominator Basic Weighted Average Number of Shares 99,644,030 91,746,410 99,105,173 91,513,626 Dilutive Stock Options and Warrants - - - - Diluted Weighted Average Number of Shares 99,644,030 91,746,410 99,105,173 91,513,626 Net Loss per Share, Basic and Diluted $ (0.05) $ (0.06) $ (0.10) $ (0.14) For the three and six months ended January 31, 2016 and 2015, all outstanding stock options and share purchase warrants were excluded from the calculation of the diluted loss per share since the Company reported net losses for those periods and their effects would be anti-dilutive.

SEGMENTED INFORMATION

SEGMENTED INFORMATION	6 Months Ended
	Jan. 31, 2016
Segment Reporting [Abstract]
Segment Reporting Disclosure [Text Block]	NOTE 11: SEGMENTED INFORMATION The Company currently operates in a single reportable segment and is focused on uranium mining and related activities, including exploration, pre-extraction, extraction and processing of uranium concentrates. At January 31, 2016, long-term assets located in the U.S. totaled $ 33,580,486 72 46,692,492 January 31, 2016 United States Balance Sheet Items Texas Arizona Other States Canada Paraguay Total Mineral Rights and Properties $ 13,428,059 $ 10,891,861 $ 822,026 $ - $ 13,080,555 $ 38,222,501 Property, Plant and Equipment 6,732,514 - - 19,351 12,100 6,763,965 Reclamation Deposits 1,690,209 15,000 817 - - 1,706,026 Total Long-Term Assets $ 21,850,782 $ 10,906,861 $ 822,843 $ 19,351 $ 13,092,655 $ 46,692,492 July 31, 2015 United States Balance Sheet Items Texas Arizona Other States Canada Paraguay Total Mineral Rights and Properties $ 13,555,492 $ 10,891,861 $ 910,059 $ - $ 13,080,555 $ 38,437,967 Property, Plant and Equipment 6,926,682 - - 7,502 14,463 6,948,647 Reclamation Deposits 1,690,209 15,000 816 - - 1,706,025 Total Long-Term Assets $ 22,172,383 $ 10,906,861 $ 910,875 $ 7,502 $ 13,095,018 $ 47,092,639 Three Months Ended January 31, 2016 United States Statement of Operations Texas Arizona Other States Canada Paraguay Total Sales $ - $ - $ - $ - $ - $ - Costs and Expenses: Cost of sales - - - - - - Mineral property expenditures 564,316 56,379 27,771 - 245,359 893,825 General and administrative 2,098,910 42,538 708 661,608 2,047 2,805,811 Depreciation, amortization and accretion 227,361 - 750 2,386 1,689 232,186 Impairment loss on mineral properties - - 86,535 - - 86,535 2,890,587 98,917 115,764 663,994 249,095 4,018,357 Loss from operations (2,890,587) (98,917) (115,764) (663,994) (249,095) (4,018,357) Other income (expenses) (785,298) (4,768) - 818 6 (789,242) Loss before income taxes $ (3,675,885) $ (103,685) $ (115,764) $ (663,176) $ (249,089) $ (4,807,599) Three months Ended January 31, 2015 United States Statement of Operations Texas Arizona Other States Canada Paraguay Total Sales $ - $ - $ - $ - $ - $ - Costs and Expenses: Cost of sales - - - - - - Mineral property expenditures 1,009,065 30,359 22,794 - 192,050 1,254,268 General and administrative 2,708,137 40,341 7,061 603,798 7,112 3,366,449 Depreciation, amortization and accretion 482,655 - 687 3,034 3,108 489,484 4,199,857 70,700 30,542 606,832 202,270 5,110,201 Loss from operations (4,199,857) (70,700) (30,542) (606,832) (202,270) (5,110,201) Other income (expenses) (762,161) (5,189) - (120) 4 (767,466) Loss before income taxes $ (4,962,018) $ (75,889) $ (30,542) $ (606,952) $ (202,266) $ (5,877,667) Six Months Ended January 31, 2016 United States Statement of Operations Texas Arizona Other States Canada Paraguay Total Sales $ - $ - $ - $ - $ - $ - Costs and Expenses: Cost of sales - - - - - - Mineral property expenditures 1,851,518 209,903 132,150 - 489,274 2,682,845 General and administrative 3,648,603 74,992 1,663 1,350,986 4,960 5,081,204 Depreciation, amortization and accretion 466,348 - 1,500 3,632 3,605 475,085 Impairment loss on mineral properties - - 86,535 - - 86,535 5,966,469 284,895 221,848 1,354,618 497,839 8,325,669 Loss from operations (5,966,469) (284,895) (221,848) (1,354,618) (497,839) (8,325,669) Other income (expenses) (1,553,694) (9,535) - 818 11 (1,562,400) Loss before income taxes $ (7,520,163) $ (294,430) $ (221,848) $ (1,353,800) $ (497,828) $ (9,888,069) Six Months Ended January 31, 2015 United States Statement of Operations Texas Arizona Other States Canada Paraguay Total Sales $ - $ - $ - $ - $ - $ - Costs and Expenses: Cost of sales - - - - - - Mineral property expenditures 2,644,891 157,467 156,519 - 555,522 3,514,399 General and administrative 5,056,097 96,877 14,025 1,362,183 14,855 6,544,037 Depreciation, amortization and accretion 1,052,548 - 1,467 6,497 6,214 1,066,726 8,753,536 254,344 172,011 1,368,680 576,591 11,125,162 Loss from operations (8,753,536) (254,344) (172,011) (1,368,680) (576,591) (11,125,162) Other income (expenses) (1,490,052) (10,378) - (120) 315 (1,500,235) Loss before income taxes $ (10,243,588) $ (264,722) $ (172,011) $ (1,368,800) $ (576,276) $ (12,625,397)

SUPPLEMENTAL CASH FLOW INFORMAT

SUPPLEMENTAL CASH FLOW INFORMATION	6 Months Ended
	Jan. 31, 2016
Supplemental Cash Flow Elements [Abstract]
Cash Flow, Supplemental Disclosures [Text Block]	NOTE 12: SUPPLEMENTAL CASH FLOW INFORMATION During the six months ended January 31, 2016 and 2015, the Company issued 856,403 564,069 913,775 877,425 During the six months ended January 31, 2016, the Company issued 104,903 111,499 During the six months ended January 31, 2016 and 2015, the Company paid $ 817,778 817,778 Subsequent to January 31, 2016, the Company issued 487,574 424,189 406,476

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	6 Months Ended
	Jan. 31, 2016
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies Disclosure [Text Block]	NOTE 13: COMMITMENTS AND CONTINGENCIES The Company is renting or leasing various office or storage space located in the United States, Canada and Paraguay with total monthly payments of $ 17,500 Fiscal 2016 $ 86,467 Fiscal 2017 186,811 Fiscal 2018 190,972 Fiscal 2019 80,134 Fiscal 2020 80,706 All subsequent years 53,804 $ 678,894 The Company is committed to pay its key executives a total of $ 728,000 The Company is subject to ordinary routine litigation incidental to its business. Except as disclosed below, the Company is not aware of any material legal proceedings pending or that have been threatened against the Company. On or about March 9, 2011, the Texas Commission on Environmental Quality (the “TCEQ”) granted the Company’s applications for a Class III Injection Well Permit, Production Area Authorization and Aquifer Exemption for its Goliad Project. On or about December 4, 2012, the U.S. Environmental Protection Agency (the “EPA”) concurred with the TCEQ issuance of the Aquifer Exemption permit (the “AE”). With the receipt of this concurrence, the final authorization required for uranium extraction, the Goliad Project achieved fully-permitted status. On or about May 24, 2011, a group of petitioners, inclusive of Goliad County, appealed the TCEQ action to the 250 th On or about April 3, 2012, the Company received notification of a lawsuit filed in the State of Arizona, in the Superior Court for the County of Yavapai, by certain petitioners (the “Plaintiffs”) against a group of defendants, including the Company and former management and board members of Concentric Energy Corp. (“Concentric”). The lawsuit asserts certain claims relating to the Plaintiffs’ equity investments in Concentric, including allegations that the former management and board members of Concentric engaged in various wrongful acts prior to and/or in conjunction with the merger of Concentric. The lawsuit originally further alleged that the Company was contractually liable for liquidated damages arising from a pre-merger transaction which the Company previously acknowledged and recorded as an accrued liability, and which portion of the lawsuit was settled in full by a cash payment of $ 149,194 On June 1, 2015, the Company received notice that Westminster Securities Corporation filed a suit in the United States District Court for the Southern District of New York, alleging a breach of contract relating to certain four-year warrants issued by Concentric in December 2008. Although the Concentric warrants expired by their terms on December 31, 2012, Westminster bases its claim upon transactions allegedly occurring prior to UEC’s merger with Concentric. The Company believes that this claim lacks merit and intends to vigorously defend the same. On or about June 29, 2015, Heather M. Stephens filed a class action complaint against the Company and two of its executive officers in the United States District Court, Southern District of Texas, with an amended class action complaint filed on November 16, 2015, (the "Securities Case") seeking unspecified damages and alleging the defendants violated Section 17(b) of the Securities Act of 1933 and Sections 10(b) and 20(a) of the Securities Exchange Act of 1934. The Company has filed a motion to dismiss. On or about September 10, 2015, John Price filed a stockholder derivative complaint on behalf of the Company against the Company's Board of Directors, executive management and three of its vice presidents in the United States District Court, Southern District of Texas, with an amended stockholder derivative complaint filed on December 4, 2015, (the “Federal Derivative Case”) seeking unspecified damages on behalf of the Company against the defendants for allegedly breaching their fiduciary duties to the Company with respect to the allegations in the Securities Case. The Company has filed a motion to dismiss. On or about October 2, 2015, Marnie W. McMahon filed a stockholder derivative complaint on behalf of the Company against the Company's Board of Directors, executive management and three of its vice presidents in the District Court of Nevada (the “Nevada Derivative Case”) (collectively with the Federal Derivative Case, the “Derivative Cases”) seeking unspecified damages on behalf of the Company against the defendants for allegedly breaching their fiduciary duties to the Company with respect to the allegations in the Securities Case. On January 21, 2016, the court granted the Company’s motion to stay the Nevada Derivative Case pending the outcome of the Federal Derivative Case. The Company believes that the Securities Case and the Derivative Cases are without merit and intends to defend vigorously against them. The Company’s Board of Directors received a shareholder demand letter dated September 10, 2015 relating to the allegations in the Securities Case (the “Shareholder Demand”). The letter demands that the Board of Directors initiate an action against the Company’s Board of Directors and two of its executive officers to recover damages allegedly caused to the Company. The Board of Directors is reviewing the Shareholder Demand to determine the appropriate course of action. At any given time, the Company may enter into negotiations to settle outstanding legal proceedings and any resulting accruals will be estimated based on the relevant facts and circumstances applicable at that time. The Company does not expect that such settlements will, individually or in the aggregate, have a material effect on its financial position, results of operation.

SUBSEQUENT EVENT

SUBSEQUENT EVENT	6 Months Ended
	Jan. 31, 2016
Subsequent Events [Abstract]
Subsequent Events [Text Block]	NOTE 14: SUBSEQUENT EVENT Other than disclosed elsewhere in this consolidated financial statement, the Company had the following material subsequent events: On March 4, 2016, the Company entered into a share purchase and option agreement (the “SPOA”) with CIC Resources Inc. (the “Vendor”) pursuant to which the Company acquired all of the issued and outstanding shares of JDL Resources Inc. (“JDL”), a wholly-owned subsidiary of the Vendor, and was granted an option to acquire all of the issued and outstanding shares of CIC Resources (Paraguay) Inc. (“CIC”; the “Option”), another wholly-owned subsidiary of the Vendor. CIC is the beneficial owner of Paraguay Resources Inc. which 100 160,930 250,000 1.5 Pursuant to the SPOA, the Company issued 1,333,560 50,000

MINERAL RIGHTS AND PROPERTIES (

MINERAL RIGHTS AND PROPERTIES (Tables)	6 Months Ended
	Jan. 31, 2016
Mineral Industries Disclosures [Abstract]
Schedule Of Mineral Rights and Property Acquisition Costs [Table Text Block]	Mineral rights and property acquisition costs consisted of the following: January 31, 2016 July 31, 2015 Mineral Rights and Properties Palangana Mine $ 6,562,348 $ 6,587,135 Goliad Project 8,689,127 8,689,127 Burke Hollow Project 1,495,750 1,495,750 Longhorn Project 116,870 116,870 Salvo Project 14,905 14,905 Nichols Project 154,774 154,774 Anderson Project 9,154,268 9,154,268 Workman Creek Project 1,472,008 1,472,008 Los Cuatros Project 257,250 257,250 Slick Rock Project 615,650 661,271 Yuty Project 11,947,144 11,947,144 Coronel Oviedo Project 1,133,412 1,133,412 Other Property Acquisitions 244,827 285,741 41,858,333 41,969,655 Accumulated Depletion (3,929,884) (3,929,884) 37,928,449 38,039,771 Databases 2,410,038 2,410,038 Accumulated Amortization (2,265,582) (2,166,966) 144,456 243,072 Land Use Agreements 404,310 390,155 Accumulated Amortization (254,714) (235,031) 149,596 155,124 $ 38,222,501 $ 38,437,967
Schedule Of Mineral Property Expenditures Incurred by Major Projects [Table Text Block]	Mineral property expenditures incurred by major projects were as follows: Three Months Ended January 31, Six Months Ended January 31, 2016 2015 2016 2015 Mineral Property Expenditures Palangana Mine $ 366,131 $ 688,196 $ 751,280 $ 1,120,856 Goliad Project 24,022 20,036 44,831 54,293 Burke Hollow Project 204,708 159,981 926,252 1,140,548 Longhorn Project 781 19,477 4,373 30,723 Salvo Project 2,912 2,039 17,075 22,839 Anderson Project 55,083 29,250 167,216 123,422 Workman Creek Project 1,001 - 31,691 31,300 Slick Rock Project 5,036 - 53,861 49,784 Yuty Project 91,526 40,872 202,543 259,761 Coronel Oviedo Project 153,833 151,178 286,732 295,762 Other Mineral Property Expenditures 173,173 143,239 381,372 385,111 Re-valuation of Asset Retirement Obligations (184,381) - (184,381) - $ 893,825 $ 1,254,268 $ 2,682,845 $ 3,514,399

PROPERTY, PLANT AND EQUIPMENT (

PROPERTY, PLANT AND EQUIPMENT (Tables)	6 Months Ended
	Jan. 31, 2016
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment [Table Text Block]	Property, plant and equipment consisted of the following: January 31, 2016 July 31, 2015 Accumulated Net Book Accumulated Net Book Cost Depreciation Value Cost Depreciation Value Hobson Processing Facility $ 6,819,088 $ (773,933) $ 6,045,155 $ 6,819,088 $ (773,933) $ 6,045,155 Mining Equipment 2,440,105 (2,140,350) 299,755 2,452,572 (2,019,996) 432,576 Logging Equipment and Vehicles 1,962,895 (1,766,587) 196,308 1,962,895 (1,714,908) 247,987 Computer Equipment 584,568 (542,068) 42,500 615,064 (573,355) 41,709 Furniture and Fixtures 172,215 (167,112) 5,103 182,802 (176,726) 6,076 Land 175,144 - 175,144 175,144 - 175,144 $ 12,154,015 $ (5,390,050) $ 6,763,965 $ 12,207,565 $ (5,258,918) $ 6,948,647

RECLAMATION DEPOSITS (Tables)

RECLAMATION DEPOSITS (Tables)	6 Months Ended
	Jan. 31, 2016
RECLAMATION DEPOSITS [Abstract]
Schedule Of Reclamation Deposits [Table Text Block]	Reclamation deposits consisted of the following: January 31, 2016 July 31, 2015 Palangana Mine $ 1,102,981 $ 1,102,981 Hobson Processing Facility 587,228 587,228 Arizona 15,000 15,000 Wyoming 817 816 $ 1,706,026 $ 1,706,025

LONG-TERM DEBT (Tables)

LONG-TERM DEBT (Tables)	6 Months Ended
	Jan. 31, 2016
Debt Disclosure [Abstract]
Schedule of Long-term Debt Instruments [Table Text Block]	Long-term debt consisted of the following: January 31, 2016 July 31, 2015 Principal amount $ 20,000,000 $ 20,000,000 Unamortized discount (459,132) (242,522) Long-term debt, net of unamortized discount 19,540,868 19,757,478 Current portion 11,666,667 1,666,667 Long-term debt, net of current portion $ 7,874,201 $ 18,090,811

ASSET RETIREMENT OBLIGATIONS (T

ASSET RETIREMENT OBLIGATIONS (Tables)	6 Months Ended
	Jan. 31, 2016
Asset Retirement Obligation Disclosure [Abstract]
Schedule of Change in Asset Retirement Obligation [Table Text Block]	Balance, July 31, 2015 $ 3,926,846 Revision in estimate of asset retirement obligations (209,168) Accretion 156,667 Balance, January 31, 2016 $ 3,874,345
Schedule Of Undiscounted Amounts Of Estimated Cash Flows [Table Text Block]	The estimated amounts and timing of cash flows and assumptions used for ARO estimates are as follows: January 31, 2016 July 31, 2015 Undiscounted amount of estimated cash flows $ 6,650,255 $ 6,600,868 Payable in years 2.1 to 15 2.5 to 15 Inflation rate 0.90% to 2.25% 2.02% to 2.25% Discount rate 5.15% to 8.00% 6.56% to 8.00%
Schedule of Changes in Standardized Measure of Discounted Future Net Cash Flows [Table Text Block]	The undiscounted amounts of estimated cash flows for the next five fiscal years and beyond are as follows: Fiscal 2016 $ - Fiscal 2017 139,052 Fiscal 2018 414,058 Fiscal 2019 667,984 Fiscal 2020 620,673 Remaining balance 4,808,488 $ 6,650,255

CAPITAL STOCK (Tables)

CAPITAL STOCK (Tables)	6 Months Ended
	Jan. 31, 2016
Equity [Abstract]
Schedule of Share Transactions [Table Text Block]	Common Value Per Share Issuance Period/Description Shares Issued Low High Value Balance, July 31, 2015 97,834,087 Bonus Shares for Debt Facility 752,320 $ 1.20 $ 1.20 $ 900,000 Consulting Services 274,982 1.03 1.38 305,594 Share Compensation 33,315 1.00 1.12 35,264 Balance, October 31, 2015 98,894,704 Consulting Services 586,138 0.72 1.12 613,179 Share Compensation 66,871 1.06 1.08 71,236 Options Exercised 682,167 0.33 0.33 225,115 Balance, January 31, 2016 100,229,880
Schedule of Stockholders' Equity Note, Warrants or Rights [Table Text Block]	A summary of share purchase warrants outstanding and exercisable at January 31, 2016 are as follows: Weighted Weighted Average Average Number of Warrants Remaining Contractual Exercise Price Outstanding Expiry Date Life (Years) $ 1.00 500,000 March 1, 2016 0.08 1.95 50,000 June 3, 2018 2.34 2.35 2,850,000 June 25, 2018 2.40 2.50 2,600,000 July 30, 2018 2.49 2.60 1,859,524 October 23, 2016 0.73 $ 2.37 7,859,524 1.89
Schedule of Share based Compensation Arrangement by Share based Payment Award Options Grants in Period Activity [Table Text Block]	A summary of stock options granted by the Company during the six months ended January 31, 2016, including corresponding grant date fair values and assumptions using the Black Scholes option pricing model is as follows: Options Exercise Term Fair Expected Risk-Free Dividend Expected Date Issued Price (Years) Value Life (Years) Interest Rate Yield Volatility August 7, 2015 105,000 $ 1.32 5 $ 68,824 2.90 1.04 % 0.00 % 77.17 % October 14, 2015 1,000,000 1.14 5 563,195 2.90 0.81 % 0.00 % 77.01 % January 12, 2016 300,000 0.98 5 145,902 2.90 1.15 % 0.00 % 76.96 % Total 1,405,000 $ 777,921
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]	Number of Stock Options Weighted Average Exercise Price Balance, July 31, 2015 10,581,975 $ 1.38 Issued 1,105,000 1.16 Forfeited (5,000) 1.32 Balance, October 31, 2015 11,681,975 1.36 Issued 300,000 0.98 Exercised (682,167) 0.33 Forfeited (180,000) 1.32 Expired (1,950) 5.90 Balance, January 31, 2016 11,117,858 $ 1.42
Schedule of Share-based Compensation, Shares Authorized under Stock Option Plans, by Exercise Price Range [Table Text Block]	A summary of stock options outstanding and exercisable at January 31, 2016 is as follows: Options Outstanding Options Exercisable Weighted Average Weighted Average Weighted Remaining Weighted Remain ing Range of Outstanding at Average Contractual Term Exercisable at Average Contractual Term Exercise Prices January 31, 2016 Exercise Price (Years) January 31, 2016 Exercise Price (Years) $0.45 to $0.96 1,269,634 $ 0.47 1.80 1,269,634 $ 0.47 1.80 $0.97 to $2.45 8,897,500 1.35 3.78 6,071,250 1.40 3.65 $2.46 to $5.70 950,724 3.30 4.33 950,724 3.30 4.33 11,117,858 $ 1.42 3.60 8,291,608 $ 1.48 3.44
Schedule Of Stock based Compensation Expense [Table Text Block]	A summary of stock-based compensation expense is as follows: Three Months Ended January 31 Six Months Ended January 31 2016 2015 2016 2015 Stock-Based Compensation for Consultants Common stock issued for consulting services $ 633,180 $ 547,094 $ 958,775 $ 877,425 Stock options issued to consultants 62,143 274,056 70,778 374,435 695,323 821,150 1,029,553 1,251,860 Stock-Based Compensation for Management Common stock issued to management 20,932 - 36,196 - Stock options issued to management 265,010 589,003 445,325 1,161,279 285,942 589,003 481,521 1,161,279 Stock-Based Compensation for Employees Common stock issued to employees 30,303 - 30,303 - Stock options issued to employees 50,781 446,217 147,414 897,527 81,084 446,217 177,717 897,527 $ 1,062,349 $ 1,856,370 $ 1,688,791 $ 3,310,666

LOSS PER SHARE (Tables)

LOSS PER SHARE (Tables)	6 Months Ended
	Jan. 31, 2016
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	The following table reconciles the weighted average number of shares used in the calculation of the basic and diluted loss per share: Three Months Ended January 31, Six Months Ended Janaury 31, 2016 2015 2016 2015 Numerator Net Loss for the Period $ (4,801,505) $ (5,875,540) $ (9,873,539) $ (12,601,767) Denominator Basic Weighted Average Number of Shares 99,644,030 91,746,410 99,105,173 91,513,626 Dilutive Stock Options and Warrants - - - - Diluted Weighted Average Number of Shares 99,644,030 91,746,410 99,105,173 91,513,626 Net Loss per Share, Basic and Diluted $ (0.05) $ (0.06) $ (0.10) $ (0.14)

SEGMENTED INFORMATION (Tables)

SEGMENTED INFORMATION (Tables)	6 Months Ended
	Jan. 31, 2016
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment [Table Text Block]	The table below provides a breakdown of the Company’s long-term assets by geographic segments: January 31, 2016 United States Balance Sheet Items Texas Arizona Other States Canada Paraguay Total Mineral Rights and Properties $ 13,428,059 $ 10,891,861 $ 822,026 $ - $ 13,080,555 $ 38,222,501 Property, Plant and Equipment 6,732,514 - - 19,351 12,100 6,763,965 Reclamation Deposits 1,690,209 15,000 817 - - 1,706,026 Total Long-Term Assets $ 21,850,782 $ 10,906,861 $ 822,843 $ 19,351 $ 13,092,655 $ 46,692,492 July 31, 2015 United States Balance Sheet Items Texas Arizona Other States Canada Paraguay Total Mineral Rights and Properties $ 13,555,492 $ 10,891,861 $ 910,059 $ - $ 13,080,555 $ 38,437,967 Property, Plant and Equipment 6,926,682 - - 7,502 14,463 6,948,647 Reclamation Deposits 1,690,209 15,000 816 - - 1,706,025 Total Long-Term Assets $ 22,172,383 $ 10,906,861 $ 910,875 $ 7,502 $ 13,095,018 $ 47,092,639
Schedule of Disclosure on Geographic Areas, Long-Lived Assets in Individual Foreign Countries by Country [Table Text Block]	Three Months Ended January 31, 2016 United States Statement of Operations Texas Arizona Other States Canada Paraguay Total Sales $ - $ - $ - $ - $ - $ - Costs and Expenses: Cost of sales - - - - - - Mineral property expenditures 564,316 56,379 27,771 - 245,359 893,825 General and administrative 2,098,910 42,538 708 661,608 2,047 2,805,811 Depreciation, amortization and accretion 227,361 - 750 2,386 1,689 232,186 Impairment loss on mineral properties - - 86,535 - - 86,535 2,890,587 98,917 115,764 663,994 249,095 4,018,357 Loss from operations (2,890,587) (98,917) (115,764) (663,994) (249,095) (4,018,357) Other income (expenses) (785,298) (4,768) - 818 6 (789,242) Loss before income taxes $ (3,675,885) $ (103,685) $ (115,764) $ (663,176) $ (249,089) $ (4,807,599) Three months Ended January 31, 2015 United States Statement of Operations Texas Arizona Other States Canada Paraguay Total Sales $ - $ - $ - $ - $ - $ - Costs and Expenses: Cost of sales - - - - - - Mineral property expenditures 1,009,065 30,359 22,794 - 192,050 1,254,268 General and administrative 2,708,137 40,341 7,061 603,798 7,112 3,366,449 Depreciation, amortization and accretion 482,655 - 687 3,034 3,108 489,484 4,199,857 70,700 30,542 606,832 202,270 5,110,201 Loss from operations (4,199,857) (70,700) (30,542) (606,832) (202,270) (5,110,201) Other income (expenses) (762,161) (5,189) - (120) 4 (767,466) Loss before income taxes $ (4,962,018) $ (75,889) $ (30,542) $ (606,952) $ (202,266) $ (5,877,667) Six Months Ended January 31, 2016 United States Statement of Operations Texas Arizona Other States Canada Paraguay Total Sales $ - $ - $ - $ - $ - $ - Costs and Expenses: Cost of sales - - - - - - Mineral property expenditures 1,851,518 209,903 132,150 - 489,274 2,682,845 General and administrative 3,648,603 74,992 1,663 1,350,986 4,960 5,081,204 Depreciation, amortization and accretion 466,348 - 1,500 3,632 3,605 475,085 Impairment loss on mineral properties - - 86,535 - - 86,535 5,966,469 284,895 221,848 1,354,618 497,839 8,325,669 Loss from operations (5,966,469) (284,895) (221,848) (1,354,618) (497,839) (8,325,669) Other income (expenses) (1,553,694) (9,535) - 818 11 (1,562,400) Loss before income taxes $ (7,520,163) $ (294,430) $ (221,848) $ (1,353,800) $ (497,828) $ (9,888,069) Six Months Ended January 31, 2015 United States Statement of Operations Texas Arizona Other States Canada Paraguay Total Sales $ - $ - $ - $ - $ - $ - Costs and Expenses: Cost of sales - - - - - - Mineral property expenditures 2,644,891 157,467 156,519 - 555,522 3,514,399 General and administrative 5,056,097 96,877 14,025 1,362,183 14,855 6,544,037 Depreciation, amortization and accretion 1,052,548 - 1,467 6,497 6,214 1,066,726 8,753,536 254,344 172,011 1,368,680 576,591 11,125,162 Loss from operations (8,753,536) (254,344) (172,011) (1,368,680) (576,591) (11,125,162) Other income (expenses) (1,490,052) (10,378) - (120) 315 (1,500,235) Loss before income taxes $ (10,243,588) $ (264,722) $ (172,011) $ (1,368,800) $ (576,276) $ (12,625,397)

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Tables)	6 Months Ended
	Jan. 31, 2016
Commitments and Contingencies Disclosure [Abstract]
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block]	The aggregate minimum payments over the next five fiscal years are as follows: Fiscal 2016 $ 86,467 Fiscal 2017 186,811 Fiscal 2018 190,972 Fiscal 2019 80,134 Fiscal 2020 80,706 All subsequent years 53,804 $ 678,894

NATURE OF OPERATIONS AND GOIN30

NATURE OF OPERATIONS AND GOING CONCERN (Details Textual) - USD ($)	1 Months Ended		6 Months Ended
	Mar. 10, 2016	Feb. 29, 2016	Jan. 31, 2016	Jul. 31, 2015	Jan. 31, 2015	Jul. 31, 2014
Entity Incorporation, State Country Name			State of Nevada
Entity Incorporation, Date of Incorporation			May 16, 2003
Working Capital Deficit			$ 10,341,643
Cash and Cash Equivalents, at Carrying Value, Total			2,406,123	$ 10,092,408	$ 4,362,544	$ 8,839,892
Long-term Debt, Current Maturities, Total			11,666,667	1,666,667
Long-term Debt			19,540,868	$ 19,757,478
Subsequent Event [Member]
Stock Issued During Period, Shares, New Issues	12,364,704	487,574
Share Price	$ 0.85
Proceeds from Other Equity	$ 10,510,000
Secured Debt [Member]
Long-term Debt			$ 20,000,000
Debt Instrument, Maturity Date Range, Start			Jul. 31, 2016
Debt Instrument, Maturity Date Range, End			Feb. 1, 2019

MINERAL RIGHTS AND PROPERTIES31

MINERAL RIGHTS AND PROPERTIES (Details) - USD ($)	Jan. 31, 2016	Jul. 31, 2015
Mineral Rights and Properties
Mineral Rights and Properties, Gross	$ 41,858,333	$ 41,969,655
Accumulated Depletion	(3,929,884)	(3,929,884)
Mineral Rights and Properties, Net Of Accumulated Depletion	37,928,449	38,039,771
Mineral Rights and Properties, Total	38,222,501	38,437,967
Databases [Member]
Mineral Rights and Properties
Finite-Lived Intangible Assets, Gross	2,410,038	2,410,038
Accumulated Amortization	(2,265,582)	(2,166,966)
Finite-Lived Intangible Assets, Total	144,456	243,072
Land Use Agreements [Member]
Mineral Rights and Properties
Finite-Lived Intangible Assets, Gross	404,310	390,155
Accumulated Amortization	(254,714)	(235,031)
Finite-Lived Intangible Assets, Total	149,596	155,124
Palangana Mine [Member]
Mineral Rights and Properties
Mineral Rights and Properties, Gross	6,562,348	6,587,135
Goliad Project [Member]
Mineral Rights and Properties
Mineral Rights and Properties, Gross	8,689,127	8,689,127
Burke Hollow Project [Member]
Mineral Rights and Properties
Mineral Rights and Properties, Gross	1,495,750	1,495,750
Longhorn Project [Member]
Mineral Rights and Properties
Mineral Rights and Properties, Gross	116,870	116,870
Salvo Project [Member]
Mineral Rights and Properties
Mineral Rights and Properties, Gross	14,905	14,905
Nichols Project [Member]
Mineral Rights and Properties
Mineral Rights and Properties, Gross	154,774	154,774
Anderson Project [Member]
Mineral Rights and Properties
Mineral Rights and Properties, Gross	9,154,268	9,154,268
Workman Creek Project [Member]
Mineral Rights and Properties
Mineral Rights and Properties, Gross	1,472,008	1,472,008
Los Cuatros Project [Member]
Mineral Rights and Properties
Mineral Rights and Properties, Gross	257,250	257,250
Slick Rock Project [Member]
Mineral Rights and Properties
Mineral Rights and Properties, Gross	615,650	661,271
Yuty Project [Member]
Mineral Rights and Properties
Mineral Rights and Properties, Gross	11,947,144	11,947,144
Coronel Oviedo Project [Member]
Mineral Rights and Properties
Mineral Rights and Properties, Gross	1,133,412	1,133,412
Other Property Acquisitions [Member]
Mineral Rights and Properties
Mineral Rights and Properties, Gross	$ 244,827	$ 285,741

MINERAL RIGHTS AND PROPERTIES32

MINERAL RIGHTS AND PROPERTIES (Details 1) - USD ($)	3 Months Ended		6 Months Ended
	Jan. 31, 2016	Jan. 31, 2015	Jan. 31, 2016	Jan. 31, 2015
Re-valuation of Asset Retirement Obligations	$ (184,381)	$ 0	$ (184,381)	$ 0
Mineral property expenditures	893,825	1,254,268	2,682,845	3,514,399
Palangana Mine [Member]
Mineral property expenditures	366,131	688,196	751,280	1,120,856
Goliad Project [Member]
Mineral property expenditures	24,022	20,036	44,831	54,293
Burke Hollow Project [Member]
Mineral property expenditures	204,708	159,981	926,252	1,140,548
Longhorn Project [Member]
Mineral property expenditures	781	19,477	4,373	30,723
Salvo Project [Member]
Mineral property expenditures	2,912	2,039	17,075	22,839
Anderson Project [Member]
Mineral property expenditures	55,083	29,250	167,216	123,422
Workman Creek Project [Member]
Mineral property expenditures	1,001	0	31,691	31,300
Slick Rock Project [Member]
Mineral property expenditures	5,036	0	53,861	49,784
Yuty Project [Member]
Mineral property expenditures	91,526	40,872	202,543	259,761
Coronel Oviedo Project [Member]
Mineral property expenditures	153,833	151,178	286,732	295,762
Other Mineral Property [Member]
Mineral property expenditures	$ 173,173	$ 143,239	$ 381,372	$ 385,111

MINERAL RIGHTS AND PROPERTIES33

MINERAL RIGHTS AND PROPERTIES (Details Textual) - USD ($)	3 Months Ended		6 Months Ended
	Jan. 31, 2016	Jan. 31, 2015	Jan. 31, 2016	Jan. 31, 2015
Payments to Acquire Mineral Rights			$ 0	$ 73,624
Exploration Abandonment and Impairment Expense	$ 86,535
Impairment of Long-Lived Assets Held-for-use	86,535	$ 0	86,535	0
Re-valuation of Asset Retirement Obligations			(184,381)	$ 0
Palangana Mine [Member]
Increase (Decrease) in Asset Retirement Obligations	24,787
Re-valuation of Asset Retirement Obligations	$ 184,381
Mining Properties and Mineral Rights [Member]
Payments to Acquire Mineral Rights			$ 1,085,000

PROPERTY, PLANT AND EQUIPMENT34

PROPERTY, PLANT AND EQUIPMENT (Details) - USD ($)	Jan. 31, 2016	Jul. 31, 2015
Property, Plant and Equipment [Line Items]
Cost	$ 12,154,015	$ 12,207,565
Accumulated Depreciation	(5,390,050)	(5,258,918)
Net Book Value	6,763,965	6,948,647
Hobson Processing Facility [Member]
Property, Plant and Equipment [Line Items]
Cost	6,819,088	6,819,088
Accumulated Depreciation	(773,933)	(773,933)
Net Book Value	6,045,155	6,045,155
Mining Equipment [Member]
Property, Plant and Equipment [Line Items]
Cost	2,440,105	2,452,572
Accumulated Depreciation	(2,140,350)	(2,019,996)
Net Book Value	299,755	432,576
Logging Equipment and Vehicles [Member]
Property, Plant and Equipment [Line Items]
Cost	1,962,895	1,962,895
Accumulated Depreciation	(1,766,587)	(1,714,908)
Net Book Value	196,308	247,987
Computer Equipment [Member]
Property, Plant and Equipment [Line Items]
Cost	584,568	615,064
Accumulated Depreciation	(542,068)	(573,355)
Net Book Value	42,500	41,709
Furniture and Fixtures [Member]
Property, Plant and Equipment [Line Items]
Cost	172,215	182,802
Accumulated Depreciation	(167,112)	(176,726)
Net Book Value	5,103	6,076
Land [Member]
Property, Plant and Equipment [Line Items]
Cost	175,144	175,144
Accumulated Depreciation	0	0
Net Book Value	$ 175,144	$ 175,144

RECLAMATION DEPOSITS (Details)

RECLAMATION DEPOSITS (Details) - USD ($)	Jan. 31, 2016	Jul. 31, 2015
Reclamation Deposits	$ 1,706,026	$ 1,706,025
Palangana Mine [Member]
Reclamation Deposits	1,102,981	1,102,981
Hobson Processing Facility [Member]
Reclamation Deposits	587,228	587,228
Arizona [Member]
Reclamation Deposits	15,000	15,000
Wyoming [Member]
Reclamation Deposits	$ 817	$ 816

DUE TO RELATED PARTIES AND RE36

DUE TO RELATED PARTIES AND RELATED PARTY TRANSACTIONS (Details Textual) - USD ($)	3 Months Ended		6 Months Ended
	Jan. 31, 2016	Jan. 31, 2015	Jan. 31, 2016	Jan. 31, 2015	Jul. 31, 2015
Related Party Transaction [Line Items]
General and Administrative Expense, Total	$ 2,805,811	$ 3,366,449	$ 5,081,204	$ 6,544,037
Stock Issued During Period, Shares, Restricted Stock Award, Net of Forfeitures, Total			856,403	564,069
Stock Issued During Period, Value, Restricted Stock Award, Net of Forfeitures, Total			$ 913,775	$ 877,425
Due to Related Parties, Current	62,125		62,125		$ 14,660
General and Administrative Expense [Member]
Related Party Transaction [Line Items]
Stock Issued During Period, Shares, Restricted Stock Award, Net of Forfeitures, Total				15,000
Stock Issued During Period, Value, Restricted Stock Award, Net of Forfeitures, Total				$ 18,150
Director and Officer [Member]
Related Party Transaction [Line Items]
General and Administrative Expense, Total	$ 68,469	$ 33,524	$ 98,593	$ 72,658

LONG-TERM DEBT (Details)

LONG-TERM DEBT (Details) - USD ($)	Jan. 31, 2016	Jul. 31, 2015
Debt Instrument [Line Items]
Principal amount	$ 20,000,000	$ 20,000,000
Unamortized discount	(459,132)	(242,522)
Long-term debt, net of unamortized discount	19,540,868	19,757,478
Current portion	11,666,667	1,666,667
Long-term debt, net of current portion	$ 7,874,201	$ 18,090,811

LONG-TERM DEBT (Details Textual

LONG-TERM DEBT (Details Textual) - USD ($)	1 Months Ended	3 Months Ended		6 Months Ended
	Feb. 29, 2016	Jan. 31, 2016	Jan. 31, 2015	Jan. 31, 2016	Jan. 31, 2015	Jul. 31, 2015	Jul. 30, 2013
Debt Instrument [Line Items]
Long-term Debt, Current Maturities, Total		$ 11,666,667		$ 11,666,667		$ 1,666,667
Amortization of Debt Discount (Premium)		347,723	$ 334,997	683,390	$ 658,404
Stock Issued During Period, Value, Other				900,000
Long-term Debt, Gross		20,000,000		$ 20,000,000		$ 20,000,000
Debt Instrument, Frequency of Periodic Payment				monthly
Debt Instrument, Periodic Payment, Total		$ 1,666,667
Subsequent Event [Member]
Debt Instrument [Line Items]
Rate of Second Extension Anniversary Fee Payable In Second Year	4.50%
Rate of Second Extension Anniversary Fee Payable In Next Twelve Months	5.50%
Percentage of Discount on Volume Weighted Average Price	10.00%
Rate of Second Extension Anniversary Fee Payable In Third Year	4.50%
Stock Purchase Warrants Expiration Date	Jul. 30, 2018
Stock Purchase Warrants Extended Expiration Date	Jan. 30, 2020
Working Capital Ratio	1:1
Debt Instrument, Maturity Date, Description	extension of the maturity date from July 31, 2017 to January 1, 2020
Class of Warrant or Right, Number of Securities Called by Warrants or Rights	2,600,000
Warrant Description	one and one-half years from July 30, 2018 to January 30, 2020, subject to accelerated exercise whereby, upon notification by the Company, the warrant holders will have 30 days to exercise their warrants, should the ten trading-day, volume-weighted average price of the Company’s shares equal or exceed $2.70
Debt Instrument, Interest Rate During Period	8.00%
Stock Issued, Value, Issued for Second Extension Fees	$ 800,000
Stock Issued, Shares, Issued for Second Extension Fees	959,613
Second Extension Fees, Percentage	4.00%
Subsequent Event [Member] | Maximum [Member]
Debt Instrument [Line Items]
Class of Warrant or Right, Exercise Price of Warrants or Rights	$ 2.50
Subsequent Event [Member] | Minimum [Member]
Debt Instrument [Line Items]
Class of Warrant or Right, Exercise Price of Warrants or Rights	$ 1.35
Secured Debt [Member]
Debt Instrument [Line Items]
Long-term Debt, Gross							$ 20,000,000
Restricted Stock [Member]
Debt Instrument [Line Items]
Stock Issued During Period, Shares, Other				752,320
Stock Issued During Period, Value, Other				$ 900,000

ASSET RETIREMENT OBLIGATIONS (D

ASSET RETIREMENT OBLIGATIONS (Details)	6 Months Ended
	Jan. 31, 2016USD ($)
Schedule of Change in Asset Retirement Obligations
Beginning Balance	$ 3,926,846
Revision in estimate of asset retirement obligations	(209,168)
Accretion	156,667
Ending Balance	$ 3,874,345

ASSET RETIREMENT OBLIGATIONS 40

ASSET RETIREMENT OBLIGATIONS (Details 1) - USD ($)	6 Months Ended	12 Months Ended
	Jan. 31, 2016	Jul. 31, 2015
Schedule Of Change In Asset Retirement Obligation [Line Items]
Undiscounted amount of estimated cash flows	$ 6,650,255	$ 6,600,868
Minimum [Member]
Schedule Of Change In Asset Retirement Obligation [Line Items]
Payable in years	2 years 1 month 6 days	2 years 6 months
Inflation rate	0.90%	2.02%
Discount rate	5.15%	6.56%
Maximum [Member]
Schedule Of Change In Asset Retirement Obligation [Line Items]
Payable in years	15 years	15 years
Inflation rate	2.25%	2.25%
Discount rate	8.00%	8.00%

ASSET RETIREMENT OBLIGATIONS 41

ASSET RETIREMENT OBLIGATIONS (Details 2)	6 Months Ended
	Jan. 31, 2016USD ($)
Schedule Of Changes In Standardized Measures Of Discounted Future Net Cash Flows
Undiscounted Amount of Estimated Cash Flows	$ 6,650,255
Asset Retirement Obligation Next Twelve Months [Member]
Schedule Of Changes In Standardized Measures Of Discounted Future Net Cash Flows
Undiscounted Amount of Estimated Cash Flows	0
Asset Retirement Obligation Year Two [Member]
Schedule Of Changes In Standardized Measures Of Discounted Future Net Cash Flows
Undiscounted Amount of Estimated Cash Flows	139,052
Asset Retirement Obligation Year Three [Member]
Schedule Of Changes In Standardized Measures Of Discounted Future Net Cash Flows
Undiscounted Amount of Estimated Cash Flows	414,058
Asset Retirement Obligation Year Four [Member]
Schedule Of Changes In Standardized Measures Of Discounted Future Net Cash Flows
Undiscounted Amount of Estimated Cash Flows	667,984
Asset Retirement Obligation Year Five [Member]
Schedule Of Changes In Standardized Measures Of Discounted Future Net Cash Flows
Undiscounted Amount of Estimated Cash Flows	620,673
Asset Retirement Obligation Remainder Of Fiscal Year [Member]
Schedule Of Changes In Standardized Measures Of Discounted Future Net Cash Flows
Undiscounted Amount of Estimated Cash Flows	$ 4,808,488

ASSET RETIREMENT OBLIGATIONS 42

ASSET RETIREMENT OBLIGATIONS (Details Textual) - USD ($)	3 Months Ended	6 Months Ended
	Jan. 31, 2016	Jan. 31, 2016	Jan. 31, 2015
Asset Retirement Obligations [Line Items]
Asset Retirement Obligation, Period Increase (Decrease), Total		$ (209,168)
Re-valuation of Asset Retirement Obligations		$ (184,381)	$ 0
Palangana Mine [Member]
Asset Retirement Obligations [Line Items]
Asset Retirement Obligation, Period Increase (Decrease), Total	$ 209,168
Increase (Decrease) in Asset Retirement Obligations	24,787
Re-valuation of Asset Retirement Obligations	$ 184,381

CAPITAL STOCK (Details)

CAPITAL STOCK (Details) - USD ($)	3 Months Ended
	Jan. 31, 2016	Oct. 31, 2015
Share Transactions [Line Items]
Balance Begining	98,894,704	97,834,087
Balance Ending	100,229,880	98,894,704
Bonus Shares For Debt Facility [Member]
Share Transactions [Line Items]
Stock Issued During Period, Shares, New Issues		752,320
Stock Issued During Period, Value, New Issues		$ 900,000
Bonus Shares For Debt Facility [Member] | Minimum [Member]
Share Transactions [Line Items]
Shares Issued, Price Per Share		$ 1.20
Bonus Shares For Debt Facility [Member] | Maximum [Member]
Share Transactions [Line Items]
Shares Issued, Price Per Share		$ 1.20
Consulting Services [Member]
Share Transactions [Line Items]
Stock Issued During Period, Shares, New Issues	586,138	274,982
Stock Issued During Period, Value, New Issues	$ 613,179	$ 305,594
Consulting Services [Member] | Minimum [Member]
Share Transactions [Line Items]
Shares Issued, Price Per Share	$ 0.72	$ 1.03
Consulting Services [Member] | Maximum [Member]
Share Transactions [Line Items]
Shares Issued, Price Per Share	$ 1.12	$ 1.38
Share Compensation [Member]
Share Transactions [Line Items]
Stock Issued During Period, Shares, New Issues	66,871	33,315
Stock Issued During Period, Value, New Issues	$ 71,236	$ 35,264
Share Compensation [Member] | Minimum [Member]
Share Transactions [Line Items]
Shares Issued, Price Per Share	$ 1.06	$ 1
Share Compensation [Member] | Maximum [Member]
Share Transactions [Line Items]
Shares Issued, Price Per Share	$ 1.08	$ 1.12
Options Exercised [Member]
Share Transactions [Line Items]
Stock Issued During Period, Shares, New Issues	682,167
Stock Issued During Period, Value, New Issues	$ 225,115
Options Exercised [Member] | Minimum [Member]
Share Transactions [Line Items]
Shares Issued, Price Per Share	$ 0.33
Options Exercised [Member] | Maximum [Member]
Share Transactions [Line Items]
Shares Issued, Price Per Share	$ 0.33

CAPITAL STOCK (Details 1)

CAPITAL STOCK (Details 1)	6 Months Ended
	Jan. 31, 2016$ / sharesshares
Class of Warrant or Right [Line Items]
Weighted Average Exercise Price | $ / shares	$ 2.37
Number of Warrants Outstanding | shares	7,859,524
Weighted Average Remaining Contractual Remaining Contractual Life (Years)	1 year 10 months 20 days
Warrants1 [Member]
Class of Warrant or Right [Line Items]
Weighted Average Exercise Price | $ / shares	$ 1
Number of Warrants Outstanding | shares	500,000
Expiry Date	Mar. 1, 2016
Weighted Average Remaining Contractual Remaining Contractual Life (Years)	29 days
Warrants2 [Member]
Class of Warrant or Right [Line Items]
Weighted Average Exercise Price | $ / shares	$ 1.95
Number of Warrants Outstanding | shares	50,000
Expiry Date	Jun. 3, 2018
Weighted Average Remaining Contractual Remaining Contractual Life (Years)	2 years 4 months 2 days
Warrants3 [Member]
Class of Warrant or Right [Line Items]
Weighted Average Exercise Price | $ / shares	$ 2.35
Number of Warrants Outstanding | shares	2,850,000
Expiry Date	Jun. 25, 2018
Weighted Average Remaining Contractual Remaining Contractual Life (Years)	2 years 4 months 24 days
Warrants4 [Member]
Class of Warrant or Right [Line Items]
Weighted Average Exercise Price | $ / shares	$ 2.50
Number of Warrants Outstanding | shares	2,600,000
Expiry Date	Jul. 30, 2018
Weighted Average Remaining Contractual Remaining Contractual Life (Years)	2 years 5 months 26 days
Warrants5 [Member]
Class of Warrant or Right [Line Items]
Weighted Average Exercise Price | $ / shares	$ 2.60
Number of Warrants Outstanding | shares	1,859,524
Expiry Date	Oct. 23, 2016
Weighted Average Remaining Contractual Remaining Contractual Life (Years)	8 months 23 days

CAPITAL STOCK (Details 2)

CAPITAL STOCK (Details 2) - USD ($)	3 Months Ended		6 Months Ended
	Jan. 31, 2016	Oct. 31, 2015	Jan. 31, 2016
Schedule of Share Based Compensation Arrangement by Share based Payment Award Options Grants in Period Activity [Line Items]
Options Issued	300,000	1,105,000	1,405,000
Exercise Price	$ 0.98	$ 1.16
Fair Value			$ 777,921
August 7, 2015 [Member]
Schedule of Share Based Compensation Arrangement by Share based Payment Award Options Grants in Period Activity [Line Items]
Options Issued			105,000
Exercise Price			$ 1.32
Term (Years)			5 years
Fair Value			$ 68,824
Expected Life (Years)			2 years 10 months 24 days
Risk-Free Interest Rate			1.04%
Dividend Yield			0.00%
Expected Volatility			77.17%
October 14, 2015 [Member]
Schedule of Share Based Compensation Arrangement by Share based Payment Award Options Grants in Period Activity [Line Items]
Options Issued			1,000,000
Exercise Price			$ 1.14
Term (Years)			5 years
Fair Value			$ 563,195
Expected Life (Years)			2 years 10 months 24 days
Risk-Free Interest Rate			0.81%
Dividend Yield			0.00%
Expected Volatility			77.01%
January 12, 2016 [Member]
Schedule of Share Based Compensation Arrangement by Share based Payment Award Options Grants in Period Activity [Line Items]
Options Issued			300,000
Exercise Price			$ 0.98
Term (Years)			5 years
Fair Value			$ 145,902
Expected Life (Years)			2 years 10 months 24 days
Risk-Free Interest Rate			1.15%
Dividend Yield			0.00%
Expected Volatility			76.96%

CAPITAL STOCK (Details 3)

CAPITAL STOCK (Details 3) - $ / shares	3 Months Ended		6 Months Ended
	Jan. 31, 2016	Oct. 31, 2015	Jan. 31, 2016
Share Based Compensation Stock Options Activity [Line Items]
Number of Stock Options, Begining Balance	11,681,975	10,581,975	10,581,975
Number of Stock Options, Issued	300,000	1,105,000	1,405,000
Number of Stock Options, Exercised	(682,167)
Number of Stock Options, Forfeited	(180,000)	(5,000)
Number of Stock Options, Expired	(1,950)
Number of Stock Options, Ending Balance	11,117,858	11,681,975	11,117,858
Weighted Average Exercise Price, Begining Balance	$ 1.36	$ 1.38	$ 1.38
Weighted Average Exercise Price, Issued	0.98	1.16
Weighted Average Exercise Price, Exercised	0.33
Weighted Average Exercise Price, Forfeited	1.32	1.32
Weighted Average Exercise Price, Expired	5.90
Weighted Average Exercise Price, Ending Balance	$ 1.42	$ 1.36	$ 1.42

CAPITAL STOCK (Details 4)

CAPITAL STOCK (Details 4)	6 Months Ended
	Jan. 31, 2016$ / sharesshares
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Options Outstanding, Ending balance as at Jan 31, 2016 | shares	11,117,858
Options Outstanding, Weighted Average Exercise Price, Ending balance as at Jan 31, 2016	$ 1.42
Options Outstanding, Weighted Average Remaining Contractual Term (Years)	3 years 7 months 6 days
Options Exercisable, Ending balance as at Jan 31, 2016 | shares	8,291,608
Options Exercisable, Weighted Average Exercise Price, Ending balance as at Jan 31, 2016	$ 1.48
Options Exercisable, Weighted Average Remaining Contractual Term (Years)	3 years 5 months 8 days
Exercise Price Range One [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Exercise Price Range, Lower Range Limit	$ 0.45
Exercise Price Range, Upper Range Limit	$ 0.96
Options Outstanding, Ending balance as at Jan 31, 2016 | shares	1,269,634
Options Outstanding, Weighted Average Exercise Price, Ending balance as at Jan 31, 2016	$ 0.47
Options Outstanding, Weighted Average Remaining Contractual Term (Years)	1 year 9 months 18 days
Options Exercisable, Ending balance as at Jan 31, 2016 | shares	1,269,634
Options Exercisable, Weighted Average Exercise Price, Ending balance as at Jan 31, 2016	$ 0.47
Options Exercisable, Weighted Average Remaining Contractual Term (Years)	1 year 9 months 18 days
Exercise Price Range Two [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Exercise Price Range, Lower Range Limit	$ 0.97
Exercise Price Range, Upper Range Limit	$ 2.45
Options Outstanding, Ending balance as at Jan 31, 2016 | shares	8,897,500
Options Outstanding, Weighted Average Exercise Price, Ending balance as at Jan 31, 2016	$ 1.35
Options Outstanding, Weighted Average Remaining Contractual Term (Years)	3 years 9 months 11 days
Options Exercisable, Ending balance as at Jan 31, 2016 | shares	6,071,250
Options Exercisable, Weighted Average Exercise Price, Ending balance as at Jan 31, 2016	$ 1.40
Options Exercisable, Weighted Average Remaining Contractual Term (Years)	3 years 7 months 24 days
Exercise Price Range Three [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Exercise Price Range, Lower Range Limit	$ 2.46
Exercise Price Range, Upper Range Limit	$ 5.70
Options Outstanding, Ending balance as at Jan 31, 2016 | shares	950,724
Options Outstanding, Weighted Average Exercise Price, Ending balance as at Jan 31, 2016	$ 3.30
Options Outstanding, Weighted Average Remaining Contractual Term (Years)	4 years 3 months 29 days
Options Exercisable, Ending balance as at Jan 31, 2016 | shares	950,724
Options Exercisable, Weighted Average Exercise Price, Ending balance as at Jan 31, 2016	$ 3.30
Options Exercisable, Weighted Average Remaining Contractual Term (Years)	4 years 3 months 29 days

CAPITAL STOCK (Details 5)

CAPITAL STOCK (Details 5) - USD ($)	3 Months Ended		6 Months Ended
	Jan. 31, 2016	Jan. 31, 2015	Jan. 31, 2016	Jan. 31, 2015
Stock based Compensation Expense [Line Items]
Share-based Compensation, Total	$ 1,062,349	$ 1,856,370	$ 1,688,791	$ 3,310,666
Stock-Based Compensation for Management [Member]
Stock based Compensation Expense [Line Items]
Common stock issued	20,932	0	36,196	0
Stock options issued	265,010	589,003	445,325	1,161,279
Share-based Compensation, Total	285,942	589,003	481,521	1,161,279
Stock-Based Compensation for Consultants [Member]
Stock based Compensation Expense [Line Items]
Common stock issued	633,180	547,094	958,775	877,425
Stock options issued	62,143	274,056	70,778	374,435
Share-based Compensation, Total	695,323	821,150	1,029,553	1,251,860
Stock-Based Compensation for Employees [Member]
Stock based Compensation Expense [Line Items]
Common stock issued	30,303	0	30,303	0
Stock options issued	50,781	446,217	147,414	897,527
Share-based Compensation, Total	$ 81,084	$ 446,217	$ 177,717	$ 897,527

CAPITAL STOCK (Details Textual)

CAPITAL STOCK (Details Textual) - USD ($)	1 Months Ended		6 Months Ended
	Mar. 10, 2016	Feb. 29, 2016	Jan. 31, 2016
Capital Sock [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value			$ 622,513
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested in Period, Fair Value			777,921
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value			0
Proceeds from Issuance Initial Public Offering			$ 100,000,000
Subsequent Event [Member]
Capital Sock [Line Items]
Proceeds from Other Equity	$ 10,510,000
Stock Issued During Period, Shares, New Issues	12,364,704	487,574
Share Price	$ 0.85
Shares Issued, Price Per Share	$ 1.20
2015 Stock Incentive Plan [Member]
Capital Sock [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant			9,600,250
Share-based Compensation Arrangement by Share-based Payment Award, Number of Additional Shares Authorized			10,569,301
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Total			$ 453,565
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition			8 months 19 days

LOSS PER SHARE (Details)

LOSS PER SHARE (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jan. 31, 2016	Jan. 31, 2015	Jan. 31, 2016	Jan. 31, 2015
Numerator
Net Loss for the Period	$ (4,801,505)	$ (5,875,540)	$ (9,873,539)	$ (12,601,767)
Denominator
Basic Weighted Average Number of Shares	99,644,030	91,746,410	99,105,173	91,513,626
Dilutive Stock Options and Warrants	0	0	0	0
Diluted Weighted Average Number of Shares	99,644,030	91,746,410	99,105,173	91,513,626
Net Loss per Share, Basic and Diluted	$ (0.05)	$ (0.06)	$ (0.10)	$ (0.14)

SEGMENTED INFORMATION (Details)

SEGMENTED INFORMATION (Details) - USD ($)	Jan. 31, 2016	Jul. 31, 2015
Mineral Rights and Properties	$ 38,222,501	$ 38,437,967
Property, Plant and Equipment	6,763,965	6,948,647
Reclamation Deposits	1,706,026	1,706,025
Total Long-Term Assets	46,692,492	47,092,639
United States Texas [Member]
Mineral Rights and Properties	13,428,059	13,555,492
Property, Plant and Equipment	6,732,514	6,926,682
Reclamation Deposits	1,690,209	1,690,209
Total Long-Term Assets	21,850,782	22,172,383
United States Arizona [Member]
Mineral Rights and Properties	10,891,861	10,891,861
Property, Plant and Equipment	0	0
Reclamation Deposits	15,000	15,000
Total Long-Term Assets	10,906,861	10,906,861
United States Other States [Member]
Mineral Rights and Properties	822,026	910,059
Property, Plant and Equipment	0	0
Reclamation Deposits	817	816
Total Long-Term Assets	822,843	910,875
Canada [Member]
Mineral Rights and Properties	0	0
Property, Plant and Equipment	19,351	7,502
Reclamation Deposits	0	0
Total Long-Term Assets	19,351	7,502
Paraguay [Member]
Mineral Rights and Properties	13,080,555	13,080,555
Property, Plant and Equipment	12,100	14,463
Reclamation Deposits	0	0
Total Long-Term Assets	$ 13,092,655	$ 13,095,018

SEGMENTED INFORMATION (Details

SEGMENTED INFORMATION (Details 1) - USD ($)	3 Months Ended		6 Months Ended
	Jan. 31, 2016	Jan. 31, 2015	Jan. 31, 2016	Jan. 31, 2015
Sales	$ 0	$ 0	$ 0	$ 0
Costs and Expenses:
Cost of sales	0	0	0	0
Mineral property expenditures	893,825	1,254,268	2,682,845	3,514,399
General and administrative	2,805,811	3,366,449	5,081,204	6,544,037
Depreciation, amortization and accretion	232,186	489,484	475,085	1,066,726
Impairment loss on mineral properties	86,535	0	86,535	0
Total Cost and Expenses	4,018,357	5,110,201	8,325,669	11,125,162
Loss from operations	(4,018,357)	(5,110,201)	(8,325,669)	(11,125,162)
Other income (expenses)	(789,242)	(767,466)	(1,562,400)	(1,500,235)
Loss before income taxes	(4,807,599)	(5,877,667)	(9,888,069)	(12,625,397)
United States Texas [Member]
Sales	0	0	0	0
Costs and Expenses:
Cost of sales	0	0	0	0
Mineral property expenditures	564,316	1,009,065	1,851,518	2,644,891
General and administrative	2,098,910	2,708,137	3,648,603	5,056,097
Depreciation, amortization and accretion	227,361	482,655	466,348	1,052,548
Impairment loss on mineral properties	0		0
Total Cost and Expenses	2,890,587	4,199,857	5,966,469	8,753,536
Loss from operations	(2,890,587)	(4,199,857)	(5,966,469)	(8,753,536)
Other income (expenses)	(785,298)	(762,161)	(1,553,694)	(1,490,052)
Loss before income taxes	(3,675,885)	(4,962,018)	(7,520,163)	(10,243,588)
United States Arizona [Member]
Sales	0	0	0	0
Costs and Expenses:
Cost of sales	0	0	0	0
Mineral property expenditures	56,379	30,359	209,903	157,467
General and administrative	42,538	40,341	74,992	96,877
Depreciation, amortization and accretion	0	0	0	0
Impairment loss on mineral properties	0		0
Total Cost and Expenses	98,917	70,700	284,895	254,344
Loss from operations	(98,917)	(70,700)	(284,895)	(254,344)
Other income (expenses)	(4,768)	(5,189)	(9,535)	(10,378)
Loss before income taxes	(103,685)	(75,889)	(294,430)	(264,722)
United States Other States [Member]
Sales	0	0	0	0
Costs and Expenses:
Cost of sales	0	0	0	0
Mineral property expenditures	27,771	22,794	132,150	156,519
General and administrative	708	7,061	1,663	14,025
Depreciation, amortization and accretion	750	687	1,500	1,467
Impairment loss on mineral properties	86,535		86,535
Total Cost and Expenses	115,764	30,542	221,848	172,011
Loss from operations	(115,764)	(30,542)	(221,848)	(172,011)
Other income (expenses)	0	0	0	0
Loss before income taxes	(115,764)	(30,542)	(221,848)	(172,011)
CANADA
Sales	0	0	0	0
Costs and Expenses:
Cost of sales	0	0	0	0
Mineral property expenditures	0	0	0	0
General and administrative	661,608	603,798	1,350,986	1,362,183
Depreciation, amortization and accretion	2,386	3,034	3,632	6,497
Impairment loss on mineral properties	0		0
Total Cost and Expenses	663,994	606,832	1,354,618	1,368,680
Loss from operations	(663,994)	(606,832)	(1,354,618)	(1,368,680)
Other income (expenses)	818	(120)	818	(120)
Loss before income taxes	(663,176)	(606,952)	(1,353,800)	(1,368,800)
PARAGUAY
Sales	0	0	0	0
Costs and Expenses:
Cost of sales	0	0	0	0
Mineral property expenditures	245,359	192,050	489,274	555,522
General and administrative	2,047	7,112	4,960	14,855
Depreciation, amortization and accretion	1,689	3,108	3,605	6,214
Impairment loss on mineral properties	0		0
Total Cost and Expenses	249,095	202,270	497,839	576,591
Loss from operations	(249,095)	(202,270)	(497,839)	(576,591)
Other income (expenses)	6	4	11	315
Loss before income taxes	$ (249,089)	$ (202,266)	$ (497,828)	$ (576,276)

SEGMENTED INFORMATION (Detail53

SEGMENTED INFORMATION (Details Textual) - USD ($)	Jan. 31, 2016	Jul. 31, 2015
Assets, Noncurrent, Total	$ 46,692,492	$ 47,092,639
Percentage of Long Term Assets	72.00%
UNITED STATES
Assets, Noncurrent, Total	$ 33,580,486

SUPPLEMENTAL CASH FLOW INFORM54

SUPPLEMENTAL CASH FLOW INFORMATION (Details Textual) - USD ($)	1 Months Ended		6 Months Ended
	Mar. 10, 2016	Feb. 29, 2016	Jan. 31, 2016	Jan. 31, 2015
Stock Issued During Period, Shares, Restricted Stock Award, Net of Forfeitures, Total			856,403	564,069
Stock Issued During Period, Value, Restricted Stock Award, Net of Forfeitures, Total			$ 913,775	$ 877,425
Stock Issued During Period, Value, Share-based Compensation, Net of Forfeitures, Total			111,499
Interest Expense, Debt			$ 817,778	$ 817,778
Subsequent Event [Member]
Stock Issued During Period, Shares, New Issues	12,364,704	487,574
Stock Issued During Period, Value, New Issues		$ 424,189
Accounts Payable, Current		$ 406,476
2015 Plan
Stock Issued During Period, Shares, Share-based Compensation, Net of Forfeitures, Total			104,903
Stock Issued During Period, Value, Share-based Compensation, Net of Forfeitures, Total			$ 111,499

COMMITMENTS AND CONTINGENCIES55

COMMITMENTS AND CONTINGENCIES (Details)	Jan. 31, 2016USD ($)
Fiscal 2,016	$ 86,467
Fiscal 2,017	186,811
Fiscal 2,018	190,972
Fiscal 2,019	80,134
Fiscal 2,020	80,706
All subsequent years	53,804
Total	$ 678,894

COMMITMENTS AND CONTINGENCIES56

COMMITMENTS AND CONTINGENCIES (Details Textual)	6 Months Ended
	Jan. 31, 2016USD ($)
Loss Contingencies [Line Items]
Operating Leases, Rent Expense	$ 17,500
Management Fee Payable	728,000
Cash Payment To Plaintiffs	$ 149,194

SUBSEQUENT EVENT (Details Textu

SUBSEQUENT EVENT (Details Textual) - Subsequent Event [Member]	Mar. 04, 2016USD ($)hashares
Subsequent Event [Line Items]
Equity Method Investment, Ownership Percentage	100.00%
Area of Land | ha	160,930
Payments to Acquire Equity Method Investments	$ 250,000
Percentage of Royalty Return	1.50%
Restricted Stock [Member]
Subsequent Event [Line Items]
Sale of Stock, Number of Shares Issued in Transaction | shares	1,333,560
Cash Consideration Paid On Transaction	$ 50,000