My City Builders (MYCB) 10-K 14 Oct 15 2015 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Jul. 31, 2015	Oct. 09, 2015	Jan. 31, 2015
Document and Entity Information [Abstract]
Entity Registrant Name	DIAMANTE MINERALS, INC.
Entity Central Index Key	1,556,801
Trading Symbol	dimn
Current Fiscal Year End Date	--07-31
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Filer Category	Accelerated Filer
Entity Well-known Seasoned Issuer	No
Entity Common Stock, Shares Outstanding		52,042,286
Entity Public Float			$ 0
Document Type	10-K
Document Period End Date	Jul. 31, 2015
Amendment Flag	false
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	FY

Balance Sheets

Balance Sheets - USD ($)	Jul. 31, 2015	Jul. 31, 2014
Current Assets
Cash	$ 734,386	$ 915,853
Prepaid expense		2,435
Total Current Assets	734,386	918,288
Prepaid Investment (Note 9)	7,992,000
TOTAL ASSETS	8,726,386	918,288
Current Liabilities
Accounts payable and accrued liabilities	12,223	5,199
Due to related party (Note 6)	154,756
Total Current Liabilities	166,979	5,199
STOCKHOLDERS' EQUITY
Capital Stock, par value $0.001, 300,000,000 shares authorized, 52,042,286 and 49,333,332 shares issued and outstanding, respectively (Note 3)	52,042	49,333
Additional paid-in capital (Note 3)	14,145,391	949,757
Accumulated deficit	(5,638,026)	(86,001)
Total Stockholders' Equity	8,559,407	913,089
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$ 8,726,386	$ 918,288

Balance Sheets (Parentheticals)

Balance Sheets (Parentheticals) - $ / shares	Jul. 31, 2015	Jul. 31, 2014
Statement Of Financial Position [Abstract]
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized	300,000,000	300,000,000
Common stock, shares issued	52,042,286	49,333,332
Common stock, shares outstanding	52,042,286	49,333,332

Statements of Operations

Statements of Operations - USD ($)	12 Months Ended
	Jul. 31, 2015	Jul. 31, 2014
Income Statement [Abstract]
REVENUES
OPERATING EXPENSES
General and administrative	$ 22,408	$ 8,015
Management fees	154,756
Professional fees	184,293	41,545
Share-based expenses (Note 4)	5,191,122
TOTAL OPERATING EXPENSES	5,552,579	49,560
LOSS FROM OPERATIONS	(5,552,579)	(49,560)
OTHER INCOME AND LOSS
Interest income	554	283
TOTAL OTHER INCOME AND LOSS	554	283
LOSS BEFORE INCOME TAXES	$ (5,552,025)	$ (49,277)
Provision for income taxes
NET LOSS FOR THE YEAR	$ (5,552,025)	$ (49,277)
Basic and Diluted Loss per Common Share (in dollars per share)	$ (0.11)	$ 0
Basic and Diluted Weighted Average Common Shares Outstanding (in shares)	51,217,756	47,353,424

Statements of Changes in Stockh

Statements of Changes in Stockholders' Equity - USD ($)	Capital Stock	Additional Paid in Capital (Deficiency)	Accumulated Deficit	Total
Balance at Jul. 31, 2013	$ 46,800	$ (7,800)	$ (36,724)	$ 2,276
Balance (in shares) at Jul. 31, 2013	46,800,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common shares issued	$ 2,533	947,467		950,000
Common shares issued (in shares)	2,533,332
Debt forgiveness for stockholder		10,090		10,090
Loss for the year			(49,277)	(49,277)
Balance at Jul. 31, 2014	$ 49,333	949,757	(86,001)	$ 913,089
Balance (in shares) at Jul. 31, 2014	49,333,332			49,333,332
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Shares issued for exploration agreement (Note 3)	$ 2,700	7,989,300		$ 7,992,000
Shares issued for exploration agreement (Note 3) (in shares)	2,700,000
Shares issued for legal fees (Note 3)	$ 9	15,212		15,221
Shares issued for legal fees (Note 3) (in shares)	8,954
Share-based expenses (Note 4)		5,191,122		5,191,122
Loss for the year			(5,552,025)	(5,552,025)
Balance at Jul. 31, 2015	$ 52,042	$ 14,145,391	$ (5,638,026)	$ 8,559,407
Balance (in shares) at Jul. 31, 2015	52,042,286			52,042,286

Statements of Cash Flows

Statements of Cash Flows - USD ($)	12 Months Ended
	Jul. 31, 2015	Jul. 31, 2014
CASH FLOWS FROM OPERATING ACTIVITIES
Loss	$ (5,552,025)	$ (49,277)
Adjustments to reconcile loss to net cash used by operating activities:
Common shares issued for services	15,221
Share based expenses	5,191,122
Changes in operating assets and liabilities:
Decrease (increase) in prepaid expenses	2,435	(2,435)
Increase in accounts payable and accrued liabilities	7,024	4,899
Increase in due to related parties	154,756	9,100
Net cash used in operating activities	$ (181,467)	(37,713)
CASH FLOWS FROM FINANCING ACTIVITIES
Issuance of common shares for cash		950,000
Net cash provided by financing activities		$ 950,000
CASH FLOWS FROM INVESTING ACTIVITIES
Net cash provided by investing activities
Net change in cash	$ (181,467)	$ 912,287
Cash, beginning of year	915,853	3,566
Cash, end of year	734,386	$ 915,853
Non-cash financing and investing activities
Common shares issued for prepaid investment	$ 7,992,000
Supplement Cash Flow Disclosures:
Cash paid for interest
Cash paid for income taxes

ORGANIZATION AND BUSINESS OPERA

ORGANIZATION AND BUSINESS OPERATIONS	12 Months Ended
	Jul. 31, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
ORGANIZATION AND BUSINESS OPERATIONS	NOTE 1 - ORGANIZATION AND BUSINESS OPERATIONS DIAMANTE MINERALS, INC. (“the Company”) was incorporated under the laws of the State of Nevada, U.S. on October 26, 2010 as Oconn Industries Corp. On March 11, 2014, the Company changed its name to Diamante Minerals, Inc. The Company is in the business of acquiring and exploring mineral properties. The Company has not generated any revenue to date. For the period from inception on October 26, 2010 to July 31, 2015, the Company has accumulated losses of $5,638,026.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Jul. 31, 2015
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The Financial Statements and related disclosures have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission ("SEC"). The Financial Statements have been prepared using the accrual basis of accounting in accordance with Generally Accepted Accounting Principles ("GAAP") of the United States. Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amount of revenues and expenses during the reporting period. Actual results could differ from those estimates. The Company's periodic filings with the SEC include, where applicable, disclosures of estimates, assumptions, uncertainties and markets that could affect the financial statements and future operations of the Company. Fiscal Period The Company's fiscal year end is July 31. Fair value of financial instruments The Company measures the fair value of financial assets and liabilities based on US GAAP guidance which defines fair value, establishes a framework for measuring fair value, and expands disclosures about fair value measurements. The Company classifies financial assets and liabilities as held-for-trading, available-for-sale, held-to-maturity, loans and receivables or other financial liabilities depending on their nature. Financial assets and financial liabilities are recognized at fair value on their initial recognition, except for those arising from certain related party transactions which are accounted for at the transferor’s carrying amount or exchange amount. Financial assets and liabilities classified as held-for-trading are measured at fair value, with gains and losses recognized in net income. Financial assets classified as held-to-maturity, loans and receivables, and financial liabilities other than those classified as held-for-trading are measured at amortized cost, using the effective interest method of amortization. Financial assets classified as available-for-sale are measured at fair value, with unrealized gains and losses being recognized as other comprehensive income until realized, or if an unrealized loss is considered other than temporary, the unrealized loss is recorded in income. Financial instruments, including accounts payable and accrued liabilities are carried at amortized cost, which management believes approximates fair value due to the short term nature of these instruments. The following table presents information about the assets that are measured at fair value on a recurring basis as at July 31, 2015, and indicates the fair value hierarchy of the valuation techniques the Company utilized to determine such fair value. In general, fair values determined by Level 1 inputs utilize quoted prices (unadjusted) in active markets for identical assets. Fair values determined by Level 2 inputs utilize data points that are observable such as quoted prices, interest rates and yield curves. Fair values determined by Level 3 inputs are unobservable data points for the asset or liability, and included situations where there is little, if any, market activity for the asset: July 31, 2015 Quoted Prices in Active Markets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Assets: Cash $ 734,386 $ 734,386 $ - $ - Total $ 734,386 $ 734,386 $ - $ - Concentrations of Credit Risk The Company's financial instruments that are exposed to concentrations of credit risk primarily consist of its cash and related party payables it will likely incur in the near future. The Company places its cash with financial institutions of high credit worthiness. At times, its cash balance with a particular financial institution may exceed any applicable government insurance limits. As at July 31, 2015, the Company has $657,936 in excess of the bank’s insurance limits. The Company's management plans to assess the financial strength and credit worthiness of any parties to which it extends funds, and as such, it believes that any associated credit risk exposures are limited. Net Loss Per Share of Capital Stock The Company has adopted ASC 260, "Earnings per Share," ("EPS") which requires presentation of basic and diluted EPS on the face of the statement of operations for all entities with complex capital structures and requires a reconciliation of the numerator and denominator of the basic EPS computation to the numerator and denominator of the diluted EPS computation. In the accompanying financial statements, basic earnings (loss) per share is computed by dividing net income (loss) by the weighted average number of shares of capital stock outstanding during the period. The following table sets forth the computation of basic and diluted earnings per share, for the periods specified: Year Ended Year Ended July 31, 2015 July 31, 2014 Loss $ (5,552,025 ) $ (49,277 ) Weighted average common shares outstanding (Basic) 51,217,756 47,353,424 Weighted average common shares outstanding (Diluted) 51,217,756 47,353,424 Net loss per share (Basic and Diluted) $ (0.11 ) $ (0.00 ) Diluted EPS excludes all dilutive potential shares if their effect is antidilutive. The Company has no potentially dilutive shares, such as options or warrants, currently issued and outstanding as at July 31, 2015. Recent Accounting Pronouncements In August 2014, FASB issued Accounting Standards Update (ASU) No. 201415 Preparation of Financial Statements – Going Concern (Subtopic 20540), Disclosure of Uncertainties about an Entity's Ability to Continue as a Going Concern. Under generally accepted accounting principles (GAAP), continuation of a reporting entity as a going concern is presumed as the basis for preparing financial statements unless and until the entity's liquidation becomes imminent. Preparation of financial statements under this presumption is commonly referred to as the going concern basis of accounting. If and when an entity's liquidation becomes imminent, financial statements should be prepared under the liquidation basis of accounting in accordance with Subtopic 20530, Presentation of Financial Statements—Liquidation Basis of Accounting. Even when an entity's liquidation is not imminent, there may be conditions or events that raise substantial doubt about the entity's ability to continue as a going concern. In those situations, financial statements should continue to be prepared under the going concern basis of accounting, but the amendments in this Update should be followed to determine whether to disclose information about the relevant conditions and events. The amendments in this Update are effective for the annual period ending after December 15, 2016, and for annual periods and interim periods thereafter. Early application is permitted. The Company will evaluate the going concern considerations in this ASU, however, at the current period, management does not believe that it has met the conditions which would subject these financial statements for additional disclosure. Management has considered all recent accounting pronouncements issued since the last audit of its financial statements. The Company's management believes that these recent pronouncements will not have a material effect on the Company's financial statements. In January 2015, FASB issued Accounting Standards Update (ASU) No. 201501 Income Statement – Extraordinary and Unusual Items, Simplifying Income Statement Presentation by Eliminating the Concept of Extraordinary Items. Eliminating the concept of extraordinary items will save time and reduce costs for preparers because they will not have to assess whether a particular event or transaction event is extraordinary (even if they ultimately would conclude it is not). This also alleviates uncertainty for preparers, auditors, and regulators because auditors and regulators no longer will need to evaluate whether a preparer treated an unusual and/or infrequent item appropriately. This update is effective for fiscal years and interim periods within those fiscal years, beginning after December 15, 2015. Early application is permitted.

CAPITAL STOCK

CAPITAL STOCK	12 Months Ended
	Jul. 31, 2015
Stockholders' Equity Note [Abstract]
CAPITAL STOCK	NOTE 3 - CAPITAL STOCK Authorized Stock The Company has authorized shares of common shares with a par value of $ per share. Each common share entitles the holder to one vote, in person or proxy, on any matter on which action of the stockholders of the corporation is sought. Share Issuance On November 20, 2014, the Company issued 2,700,000 shares of common stock to Kel-Ex Development Ltd. (“Kel-Ex”) with a fair market value of $2.96 per share in connection with Kel-Ex’s involvement with the anticipated Batovi Diamond Project (Note 9). On December 19, 2014, the Company issued 8,954 shares of common stock with a fair market value of $1.70 per share to DMH Stallard LLP as part of a settlement of legal fees. There were 52,042,286 and 49,333,332 shares of common stock issued and outstanding as at July 31, 2015 and July 31, 2014, respectively.

SHARE-BASED EXPENSES

SHARE-BASED EXPENSES	12 Months Ended
	Jul. 31, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
SHARE-BASED EXPENSES	NOTE 4 - SHARE-BASED EXPENSES ASC 718 Compensation – Stock Compensation prescribes accounting and reporting standards for all share-based payment transactions in which employee services are acquired. Transactions include incurring liabilities, or issuing or offering to issue shares, options, and other equity instruments such as employee stock ownership plans and stock appreciation rights. Share-based payments to employees, including grants of employee stock options, are recognized as compensation expense in the financial statements based on their fair values. That expense is recognized over the period during which an employee is required to provide services in exchange for the award, known as the requisite service period (usually the vesting period). The Company accounts for stock-based compensation issued to non-employees and consultants in accordance with the provisions of ASC 505-50, Equity – Based Payments to Non-Employees. Measurement of share-based payment transactions with non-employees is based on the fair value of whichever is more reliably measurable: (a) the goods or services received; or (b) the equity instruments issued. The fair value of the share-based payment transaction is determined at the earlier of performance commitment date or performance completion date. On October 16, 2014, the Company granted Robert Faber, the former sole officer and director of the Company an option (the Option ) to purchase all, or any portion of, 200,000 common shares pursuant to an Option Agreement. The Option may be exercised by Mr. Faber until April 16, 2016 and can be exercised at any time, in any amounts and on indeterminate occasions. The exercise price for each share of common stock is $1.25. Annualized volatility – 123.73% Risk-free interest rate – 0.23% Expected life – 18 months Dividend yield – nil Share price - $2.70 per share Exercise price - $1.25 per share At July 31, 2015, the Company had 2 options outstanding, with exercise price of $1.25 and remaining contract life of 0.876 years to purchase 2,700,000 common shares.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	12 Months Ended
	Jul. 31, 2015
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	NOTE 5 - COMMITMENTS AND CONTINGENCIES On October 16, 2014, the Company and Chad Ulansky entered into an Employment Agreement (the “CEO Employment Agreement”), pursuant to which Mr. Ulansky is employed by the Company as its Chief Executive Officer for three years. As compensation for his services, Mr. Ulansky shall receive an annual base salary of $400,000 for the first year of the Employment Agreement, $450,000 for the second year and $500,000 for the third year. The Company shall have the right to pay the salary or any other amounts payable to Mr. Ulansky in deferred shares units of the Company based on the 90-day VWAP of the common shares of the Company at the end of each quarter. As at July 31, 2015, $149,249 has been accrued in accounts payable, which equates to 233,201 shares (July 31, 2014 – nil) if Mr. Ulansky were to leave the Company. On July 12, 2015, the Company and Jennifer Irons entered into an Employment Agreement (the “CFO Employment Agreement”, together with the CEO Employment Agreement, known as “the Employment Agreements”), pursuant to which Ms. Irons is employed by the Company as its Chief Financial Officer for three years. As compensation for her services, Ms. Irons shall receive an annual base salary of $125,000 for the first year of the Employment Agreement, $137,500 for the second year and $150,000 for the third year. The Company shall have the right to pay the salary or any other amounts payable to Ms. Irons in deferred share units of the Company based on the 90-day VWAP of the common shares of the Company at the end of each quarter. As at July 31, 2015, $5,507 has been accrued in accounts payable, which equates to 8,605 shares (July 31, 2014 – nil) if Ms. Irons were to leave the Company. The Employment Agreements shall automatically renew on each anniversary of the Agreement for one additional year term unless one party provides the other with notice prior to such anniversary date that such party does not desire to renew the Employment Agreement. The Company may immediately terminate Mr. Ulansky and Ms. Irons's employment for cause. If (i) Mr. Ulansky or Ms. Irons's employment is terminated by the Company without cause, (ii) Mr. Ulansky or Ms. Irons terminate his or her employment as a result of the Company assigning duties inconsistent with his position or the Company fails to pay the compensation or (iii) there is a change in control in the Company, then in either case the Company shall pay Mr. Ulansky and Ms. Irons an amount equal to (a) the product of the number of years and fractional years for the remainder of the term multiplied by (b) 50% of the then current base salary in effect as of the date of termination. During the year ended July 31, 2015, the Company recorded a total of $154,756 as management fee payable to related parties, which equates to 241,806 shares. The Company has no other commitments or contingencies as at July 31, 2015 and 2014.

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	12 Months Ended
	Jul. 31, 2015
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	NOTE 6 - RELATED PARTY TRANSACTIONS During the year ended July 31, 2015, the Company’s director advanced $7,636 to the Company to cover the Company’s operating expenses. This loan was non-interest bearing, unsecured, and due on demand. The balance was repaid in full in February 2015. As at July 31, 2015, $149,249 in management fees earned by the Chief Executive Officer pursuant to the CEO Employment Agreement was included as due to a related party; $5,507 in management fees earned by the Chief Financial Officer pursuant to the CFO agreement was included as due to a related party.

INCOME TAXES

INCOME TAXES	12 Months Ended
	Jul. 31, 2015
Income Tax Disclosure [Abstract]
INCOME TAXES	NOTE 7 - INCOME TAXES The Company provides for income taxes under ASC 740, Accounting for Income Taxes. ASC 740 requires the use of an asset and liability approach in accounting for income taxes. Deferred tax assets and liabilities are recorded based on the differences between the financial statement and tax bases of assets and liabilities and the tax rates in effect when these differences are expected to reverse. ASC 740 requires the reduction of deferred tax assets by a valuation allowance if, based on the weight of available evidence, it is more likely than not that some or all of the deferred tax assets will not be realized. The provision for income taxes differs from the amounts which would be provided by applying the statutory federal income tax rate of 34 percent to net the loss before provision for income taxes for the following reasons: July 31, 2015 July 31, 2014 Income tax expense at statutory rate $ (1,887,689 ) $ (16,754 ) Valuation allowance 1,887,689 16,754 Income tax expense per books $ - $ - Net deferred tax assets consist of the following components as of: July 31, 2015 July 31, 2014 NOL carryover $ 99,000 $ 29,240 Valuation allowance (99,000 ) (29,240 ) Net deferred tax asset $ - $ - Due to the change in ownership provisions of the Tax Reform Act of 1986, net operating loss carry forwards of $86,001 for federal income tax reporting purposes are subject to annual limitations. When a change in ownership occurs, net operating loss carry forwards may be limited as to use in future years.

GOING CONCERN AND LIQUIDITY CON

GOING CONCERN AND LIQUIDITY CONSIDERATIONS	12 Months Ended
	Jul. 31, 2015
Going Concern and Liquidity Considerations [Abstract]
GOING CONCERN AND LIQUIDITY CONSIDERATIONS	NOTE 8 - GOING CONCERN AND LIQUIDITY CONSIDERATIONS The accompanying financial statements have been prepared assuming that the Company will continue as a going concern, which contemplates the realization of assets and the liquidation of liabilities in the normal course of business. During the year ended July 31, 2015, the Company incurred a net loss of $5,552,025. As at July 31, 2015, the Company had an accumulated deficit of $5,638,026 and has earned no revenues since inception. The Company intends to fund operations through equity financing arrangements, which may be insufficient to fund its capital expenditures, working capital and other cash requirements for the year ending July 31, 2016. The ability of the Company to emerge from the exploration stage is dependent upon, among other things, obtaining additional financing to continue operations, and development of its business plan. In response to these problems, management intends to raise additional funds through public or private placement offerings. These factors, among others, raise substantial doubt about the Company’s ability to continue as a going concern. The accompanying financial statements do not include any adjustments that might result from the outcome of this uncertainty.

BATOVI DIAMOND PROJECT

BATOVI DIAMOND PROJECT	12 Months Ended
	Jul. 31, 2015
Equity Method Investments and Joint Ventures [Abstract]
BATOVI DIAMOND PROJECT	NOTE 9 - BATOVI DIAMOND PROJECT On November 20, 2014, the Company entered into a formal joint venture agreement (the “Joint Venture Agreement”) with Mineracao Batovi Ltda (“Mineracao Batovi”) which contemplates the Company acquiring partial ownership in Mineracao Batovi to develop, finance and operate the Batovi Diamond Project. Pursuant to the Joint Venture Agreement, the Company must contribute $1,000,000 in cash to Mineracao Batovi in return for a 20% equity interest. The Company may earn an additional 29% equity interest in Mineracao Batovi by funding $2,000,000 of exploration expenses no later than November 20, 2017. The Joint Venture Agreement provides that Mineracao Batovi is to be managed by a board of directors comprised of two representatives from each of the Company and the existing Mineracao Batovi management, provided that if the Company fails to earn an additional 29% equity interest in Newco by November 20, 2017, Mineracao Batovi's board of directors will be comprised of three representatives of Mineracao Batovi existing management and one representative of the Company. The parties originally agreed to cause the joint venture company to engage Kel-Ex, a privately-held British Columbia corporation that is under common control with Mineracao Batovi, to carry out exploration activities on the Batovi Diamond Project in accordance with approved budgets. Kel-Ex is entitled to charge a 10% administration fee on all exploration expenditures incurred under $50,000 and 5% on all exploration expenditures incurred over $50,000. On November 20, 2014, the Company issued 2,700,000 fully-paid and non-assessable common shares to Kel-Ex pursuant to the Joint Venture Agreement in connection with Kel-Ex's anticipated appointment as the operator of the Batovi Diamond Project. As at the date of these financial statements, the Company is working on completing the ownership transfer of Mineracao Batovi. By the Company’s letter agreement dated February 27, 2015, effective upon acceptance by Mineracao Batovi and Kel-Ex on March 9, 2015, the parties amended the Joint Venture Agreement to provide that the Company would be engaged to act as operator of the Batovi Diamond Project on terms whereby the Company will be entitled to charge a 10% administration fee on all exploration expenditures incurred under $50,000 and 5% on all exploration expenditures incurred over $50,000. The Company has discretion to subcontract with third parties, including Kel-Ex, to enable it to fulfill its role as operator.

SUMMARY OF SIGNIFICANT ACCOUN16

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Jul. 31, 2015
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The Financial Statements and related disclosures have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission ("SEC"). The Financial Statements have been prepared using the accrual basis of accounting in accordance with Generally Accepted Accounting Principles ("GAAP") of the United States.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amount of revenues and expenses during the reporting period. Actual results could differ from those estimates. The Company's periodic filings with the SEC include, where applicable, disclosures of estimates, assumptions, uncertainties and markets that could affect the financial statements and future operations of the Company.
Fiscal Period	Fiscal Period The Company's fiscal year end is July 31.
Fair value of financial instruments	Fair value of financial instruments The Company measures the fair value of financial assets and liabilities based on US GAAP guidance which defines fair value, establishes a framework for measuring fair value, and expands disclosures about fair value measurements. The Company classifies financial assets and liabilities as held-for-trading, available-for-sale, held-to-maturity, loans and receivables or other financial liabilities depending on their nature. Financial assets and financial liabilities are recognized at fair value on their initial recognition, except for those arising from certain related party transactions which are accounted for at the transferor’s carrying amount or exchange amount. Financial assets and liabilities classified as held-for-trading are measured at fair value, with gains and losses recognized in net income. Financial assets classified as held-to-maturity, loans and receivables, and financial liabilities other than those classified as held-for-trading are measured at amortized cost, using the effective interest method of amortization. Financial assets classified as available-for-sale are measured at fair value, with unrealized gains and losses being recognized as other comprehensive income until realized, or if an unrealized loss is considered other than temporary, the unrealized loss is recorded in income. Financial instruments, including accounts payable and accrued liabilities are carried at amortized cost, which management believes approximates fair value due to the short term nature of these instruments. The following table presents information about the assets that are measured at fair value on a recurring basis as at July 31, 2015, and indicates the fair value hierarchy of the valuation techniques the Company utilized to determine such fair value. In general, fair values determined by Level 1 inputs utilize quoted prices (unadjusted) in active markets for identical assets. Fair values determined by Level 2 inputs utilize data points that are observable such as quoted prices, interest rates and yield curves. Fair values determined by Level 3 inputs are unobservable data points for the asset or liability, and included situations where there is little, if any, market activity for the asset: July 31, 2015 Quoted Prices in Active Markets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Assets: Cash $ 734,386 $ 734,386 $ - $ - Total $ 734,386 $ 734,386 $ - $ -
Concentrations of Credit Risk	Concentrations of Credit Risk The Company's financial instruments that are exposed to concentrations of credit risk primarily consist of its cash and related party payables it will likely incur in the near future. The Company places its cash with financial institutions of high credit worthiness. At times, its cash balance with a particular financial institution may exceed any applicable government insurance limits. As at July 31, 2015, the Company has $657,936 in excess of the bank’s insurance limits. The Company's management plans to assess the financial strength and credit worthiness of any parties to which it extends funds, and as such, it believes that any associated credit risk exposures are limited.
Net Loss Per Share of Capital Stock	Net Loss Per Share of Capital Stock The Company has adopted ASC 260, "Earnings per Share," ("EPS") which requires presentation of basic and diluted EPS on the face of the statement of operations for all entities with complex capital structures and requires a reconciliation of the numerator and denominator of the basic EPS computation to the numerator and denominator of the diluted EPS computation. In the accompanying financial statements, basic earnings (loss) per share is computed by dividing net income (loss) by the weighted average number of shares of capital stock outstanding during the period. The following table sets forth the computation of basic and diluted earnings per share, for the periods specified: Year Ended Year Ended July 31, 2015 July 31, 2014 Loss $ (5,552,025 ) $ (49,277 ) Weighted average common shares outstanding (Basic) 51,217,756 47,353,424 Weighted average common shares outstanding (Diluted) 51,217,756 47,353,424 Net loss per share (Basic and Diluted) $ (0.11 ) $ (0.00 ) Diluted EPS excludes all dilutive potential shares if their effect is antidilutive. The Company has no potentially dilutive shares, such as options or warrants, currently issued and outstanding as at July 31, 2015.
Recent Accounting Pronouncements	Recent Accounting Pronouncements In August 2014, FASB issued Accounting Standards Update (ASU) No. 201415 Preparation of Financial Statements – Going Concern (Subtopic 20540), Disclosure of Uncertainties about an Entity's Ability to Continue as a Going Concern. Under generally accepted accounting principles (GAAP), continuation of a reporting entity as a going concern is presumed as the basis for preparing financial statements unless and until the entity's liquidation becomes imminent. Preparation of financial statements under this presumption is commonly referred to as the going concern basis of accounting. If and when an entity's liquidation becomes imminent, financial statements should be prepared under the liquidation basis of accounting in accordance with Subtopic 20530, Presentation of Financial Statements—Liquidation Basis of Accounting. Even when an entity's liquidation is not imminent, there may be conditions or events that raise substantial doubt about the entity's ability to continue as a going concern. In those situations, financial statements should continue to be prepared under the going concern basis of accounting, but the amendments in this Update should be followed to determine whether to disclose information about the relevant conditions and events. The amendments in this Update are effective for the annual period ending after December 15, 2016, and for annual periods and interim periods thereafter. Early application is permitted. The Company will evaluate the going concern considerations in this ASU, however, at the current period, management does not believe that it has met the conditions which would subject these financial statements for additional disclosure. Management has considered all recent accounting pronouncements issued since the last audit of its financial statements. The Company's management believes that these recent pronouncements will not have a material effect on the Company's financial statements. In January 2015, FASB issued Accounting Standards Update (ASU) No. 201501 Income Statement – Extraordinary and Unusual Items, Simplifying Income Statement Presentation by Eliminating the Concept of Extraordinary Items. Eliminating the concept of extraordinary items will save time and reduce costs for preparers because they will not have to assess whether a particular event or transaction event is extraordinary (even if they ultimately would conclude it is not). This also alleviates uncertainty for preparers, auditors, and regulators because auditors and regulators no longer will need to evaluate whether a preparer treated an unusual and/or infrequent item appropriately. This update is effective for fiscal years and interim periods within those fiscal years, beginning after December 15, 2015. Early application is permitted.

SUMMARY OF SIGNIFICANT ACCOUN17

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	12 Months Ended
	Jul. 31, 2015
Accounting Policies [Abstract]
Schedule of assets measured at fair value on a recurring basis	July 31, 2015 Quoted Prices in Active Markets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Assets: Cash $ 734,386 $ 734,386 $ - $ - Total $ 734,386 $ 734,386 $ - $ -
Schedule of basic and diluted earnings per share	Year Ended Year Ended July 31, 2015 July 31, 2014 Loss $ (5,552,025 ) $ (49,277 ) Weighted average common shares outstanding (Basic) 51,217,756 47,353,424 Weighted average common shares outstanding (Diluted) 51,217,756 47,353,424 Net loss per share (Basic and Diluted) $ (0.11 ) $ (0.00 )

SHARE-BASED EXPENSES (Tables)

SHARE-BASED EXPENSES (Tables)	12 Months Ended
	Jul. 31, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Schedule of options granted valuation assumptions	Annualized volatility – 123.73% Risk-free interest rate – 0.23% Expected life – 18 months Dividend yield – nil Share price - $2.70 per share Exercise price - $1.25 per share

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
	Jul. 31, 2015
Income Tax Disclosure [Abstract]
Schedule of components of income tax expense	July 31, 2015 July 31, 2014 Income tax expense at statutory rate $ (1,887,689 ) $ (16,754 ) Valuation allowance 1,887,689 16,754 Income tax expense per books $ - $ -
Schedule of net deferred tax assets	July 31, 2015 July 31, 2014 NOL carryover $ 99,000 $ 29,240 Valuation allowance (99,000 ) (29,240 ) Net deferred tax asset $ - $ -

ORGANIZATION AND BUSINESS OPE20

ORGANIZATION AND BUSINESS OPERATIONS (Detail Textuals) - USD ($)	Jul. 31, 2015	Jul. 31, 2014
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Accumulated losses	$ (5,638,026)	$ (86,001)

SUMMARY OF SIGNIFICANT ACCOUN21

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) - USD ($)	Jul. 31, 2015	Jul. 31, 2014	Jul. 31, 2013
Accounting Policies [Line Items]
Cash	$ 734,386	$ 915,853	$ 3,566
Fair Value, Measurements, Recurring | Quoted Prices in Active Markets (Level 1)
Accounting Policies [Line Items]
Cash	$ 734,386
Fair Value, Measurements, Recurring | Significant Other Observable Inputs (Level 2)
Accounting Policies [Line Items]
Cash
Fair Value, Measurements, Recurring | Significant Unobservable Inputs (Level 3)
Accounting Policies [Line Items]
Cash

SUMMARY OF SIGNIFICANT ACCOUN22

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details 1) - USD ($)	12 Months Ended
	Jul. 31, 2015	Jul. 31, 2014
Accounting Policies [Abstract]
Loss	$ (5,552,025)	$ (49,277)
Weighted average common shares outstanding (Basic)	51,217,756	47,353,424
Weighted average common shares outstanding (Diluted)	51,217,756	47,353,424
Net loss per share (Basic and Diluted) (in dollars per share)	$ (0.11)	$ 0

SUMMARY OF SIGNIFICANT ACCOUN23

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Detail Textuals)	12 Months Ended
	Jul. 31, 2015USD ($)
Accounting Policies [Abstract]
Cash in excess of bank's insurance limits	$ 657,936

CAPITAL STOCK (Detail Textuals)

CAPITAL STOCK (Detail Textuals) - $ / shares	1 Months Ended		12 Months Ended
	Dec. 19, 2014	Nov. 20, 2014	Jul. 31, 2015	Jul. 31, 2014
Stockholders Equity [Line Items]
Common shares, shares authorized			300,000,000	300,000,000
Common shares, par value (in dollars per share)			$ 0.001	$ 0.001
Number of votes each common shareholders entitled			one vote
Common stock, shares issued			52,042,286	49,333,332
Common stock, shares outstanding			52,042,286	49,333,332
Joint venture agreement (the "Joint Venture Agreement") | Kel-Ex Development Ltd. ("Kel-Ex")
Stockholders Equity [Line Items]
Number of fully-paid and non-assessable common shares issued for assets acquisition		2,700,000
Share price per share		$ 2.96
Joint venture agreement (the "Joint Venture Agreement") | DMH Stallard LLP
Stockholders Equity [Line Items]
Number of fully-paid and non-assessable common shares issued for assets acquisition	8,954
Share price per share	$ 1.70

SHARE-BASED EXPENSES (Details)

SHARE-BASED EXPENSES (Details)	12 Months Ended
	Jul. 31, 2015$ / shares
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Annualized volatility	123.73%
Risk-free interest rate	0.23%
Expected life	18 months
Dividend yield
Share price	$ 2.70
Exercise price	$ 1.25

SHARE-BASED EXPENSES (Detail Te

SHARE-BASED EXPENSES (Detail Textuals)	1 Months Ended	12 Months Ended
	Oct. 16, 2014$ / sharesshares	Jul. 31, 2015USD ($)Option$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based expenses | $		$ 5,191,122
Number of options outstanding | Option		2
Number of options to purchase common stock securities | shares		2,700,000
Exercise price per share		$ 1.25
Remaining contract life		10 months 16 days
Option (the "Option") | Robert Faber
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of options to purchase common stock securities | shares	200,000
Exercise price per share	$ 1.25
Option (the "Option") | Binyamin Gordon
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of options to purchase common stock securities | shares	2,500,000
Exercise price per share	$ 1.25

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Detail Textuals) - USD ($)	Jul. 12, 2015	Oct. 16, 2014	Jul. 31, 2015	Jul. 31, 2014
Commitments And Contingencies [Line Items]
Employment termination conditions			If (i) Mr. Ulansky or Ms. Irons's employment is terminated by the Company without cause, (ii) Mr. Ulansky or Ms. Irons terminate his or her employment as a result of the Company assigning duties inconsistent with his position or the Company fails to pay the compensation or (iii) there is a change in control in the Company, then in either case the Company shall pay Mr. Ulansky and Ms. Irons an amount equal to (a) the product of the number of years and fractional years for the remainder of the term multiplied by (b) 50% of the then current base salary in effect as of the date of termination.
Management fee payable			$ 154,756
Number of deferred shares issued			241,806
Mr. Ulansky
Commitments And Contingencies [Line Items]
Management fee payable			$ 149,249
Jennifer Irons
Commitments And Contingencies [Line Items]
Management fee payable			5,507
Employment Agreement (the Employment Agreements) | Mr. Ulansky
Commitments And Contingencies [Line Items]
Term of employment		3 years
Management fee payable			$ 149,249
Number of deferred shares issued			233,201
Employment Agreement (the Employment Agreements) | Mr. Ulansky | First year
Commitments And Contingencies [Line Items]
Annual base salary		$ 400,000
Employment Agreement (the Employment Agreements) | Mr. Ulansky | Second year
Commitments And Contingencies [Line Items]
Annual base salary		450,000
Employment Agreement (the Employment Agreements) | Mr. Ulansky | Third year
Commitments And Contingencies [Line Items]
Annual base salary		$ 500,000
Employment Agreement (the Employment Agreements) | Jennifer Irons
Commitments And Contingencies [Line Items]
Term of employment	3 years
Management fee payable			$ 5,507
Number of deferred shares issued			8,605
Employment Agreement (the Employment Agreements) | Jennifer Irons | First year
Commitments And Contingencies [Line Items]
Annual base salary	$ 125,000
Employment Agreement (the Employment Agreements) | Jennifer Irons | Second year
Commitments And Contingencies [Line Items]
Annual base salary	137,500
Employment Agreement (the Employment Agreements) | Jennifer Irons | Third year
Commitments And Contingencies [Line Items]
Annual base salary	$ 150,000

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Detail Textuals)	12 Months Ended
	Jul. 31, 2015USD ($)
Related Party Transaction [Line Items]
Management fees	$ 154,756
Director
Related Party Transaction [Line Items]
Advances from related party	7,636
Chief Executive Officer
Related Party Transaction [Line Items]
Management fees	149,249
Chief Financial Officer
Related Party Transaction [Line Items]
Management fees	$ 5,507

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($)	12 Months Ended
	Jul. 31, 2015	Jul. 31, 2014
Income Tax Disclosure [Abstract]
Income tax expense at statutory rate	$ (1,887,689)	$ (16,754)
Valuation allowance	$ 1,887,689	$ 16,754
Income tax expense per books

INCOME TAXES (Details 1)

INCOME TAXES (Details 1) - USD ($)	Jul. 31, 2015	Jul. 31, 2014
Income Tax Disclosure [Abstract]
NOL carryover	$ 99,000	$ 29,240
Valuation allowance	$ (99,000)	$ (29,240)
Net deferred tax asset

INCOME TAXES (Detail Textuals)

INCOME TAXES (Detail Textuals)	12 Months Ended
	Jul. 31, 2015USD ($)
Income Tax Disclosure [Abstract]
Statutory federal income tax rate	34.00%
Net operating loss carry forwards	$ 86,001

GOING CONCERN AND LIQUIDITY C32

GOING CONCERN AND LIQUIDITY CONSIDERATIONS (Detail Textuals) - USD ($)	12 Months Ended
	Jul. 31, 2015	Jul. 31, 2014
Going Concern and Liquidity Considerations [Abstract]
Net loss	$ (5,552,025)	$ (49,277)
Accumulated deficit	$ (5,638,026)	$ (86,001)

BATOVI DIAMOND PROJECT (Detail

BATOVI DIAMOND PROJECT (Detail Textuals) - USD ($)	1 Months Ended
	Feb. 27, 2015	Nov. 20, 2014
Agreement [Line Items]
Administration fees percentage description	Company will be entitled to charge a 10% administration fee on all exploration expenditures incurred under $50,000 and 5% on all exploration expenditures incurred over $50,000. The Company has discretion to subcontract with third parties, including Kel-Ex, to enable it to fulfill its role as operator.
Percentage of administration fee on exploration expenditures below 50000	10.00%
Percentage of administration fee on exploration expenditures above 50000	5.00%
Joint venture agreement (the "Joint Venture Agreement") | Kel-Ex Development Ltd. ("Kel-Ex")
Agreement [Line Items]
Administration fees percentage description		Kel-Ex is entitled to charge a 10% administration fee on all exploration expenditures incurred under $50,000 and 5% on all exploration expenditures incurred over $50,000.
Percentage of administration fee on exploration expenditures below 50000		10.00%
Percentage of administration fee on exploration expenditures above 50000		5.00%
Number of fully-paid and non-assessable common shares issued for assets acquisition		2,700,000
Joint venture agreement (the "Joint Venture Agreement") | Mineracao Batovi Ltda ("Mineracao Batovi")
Agreement [Line Items]
Payment to joint venture in cash for equity interest		$ 1,000,000
Percentage of equity interest earned		20.00%
Additional equity interest earned by funding exploration expenses		29.00%
Funding exploration expenses		$ 2,000,000
Interest earned in project rated based description		The Company may earn an additional 29% equity interest in Mineracao Batovi by funding $2,000,000 of exploration expenses no later than November 20, 2017.