Uranium Royalty (UROY) 40-F 13 Jul 23 2023 FY Annual report (Canada) Financial data

Cover Page

Cover Page	12 Months Ended
	Apr. 30, 2023 shares
Document Information [Line Items]
Document Type	40-F
Document Registration Statement	false
Document Annual Report	true
Amendment Flag	false
Entity Registrant Name	Uranium Royalty Corp.
Entity Central Index Key	0001711570
Document Period End Date	Apr. 30, 2023
Current Fiscal Year End Date	--04-30
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2023
Entity File Number	001-40359
Entity Incorporation, State or Country Code	Z4
Entity Primary SIC Number	1090
Entity Tax Identification Number	98-1507764
Entity Address, Address Line One	Suite 1830
Entity Address, Address Line Two	1030 West Georgia Street
Entity Address, City or Town	Vancouver
Entity Address, State or Province	BC
Entity Address, Country	CA
Entity Address, Postal Zip Code	V6E 2Y3
City Area Code	604
Local Phone Number	396-8222
Title of 12(b) Security	Common shares without par value
Trading Symbol	UROY
Security Exchange Name	NASDAQ
Annual Information Form	true
Audited Annual Financial Statements	true
Entity Common Stock, Shares Outstanding	99,803,729
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
ICFR Auditor Attestation Flag	false
Auditor Name	PricewaterhouseCoopers LLP
Auditor Firm ID	271
Auditor Location	Vancouver, Canada
Business Contact [Member]
Document Information [Line Items]
Contact Personnel Name	C T Corporation System
Entity Address, Address Line One	28 Liberty Street
Entity Address, City or Town	New York
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	10005
City Area Code	212
Local Phone Number	894-8940

Consolidated Statements of Fina

Consolidated Statements of Financial Position - CAD ($) $ in Thousands	Apr. 30, 2023	Apr. 30, 2022
Current Assets
Cash	$ 14,306	$ 4,385
Restricted cash	110	697
Short-term investments	38,340	51,787
Inventories	85,561	75,030
Prepaids and other receivables	511	2,131
Total current assets	138,828	134,030
Non-current Assets
Right-of-use asset	96	120
Royalties and royalty options	46,864	44,023
Total non-current Assets	46,960	44,143
Total Assets	185,788	178,173
Current Liabilities
Accounts payable and accrued liabilities	549	469
Government loan payable	40	0
Margin loan payable	9,726	0
Current portion of lease liability	21	17
Total current liabilities	10,336	486
Non-current Liabilities
Government loan payable	0	40
Margin loan payable	0	12,908
Non-current portion of lease liability	83	103
Total Non-current liability	83	13,051
Total liabilities	10,419	13,537
Equity
Issued Capital	167,277	152,444
Reserves	6,319	5,488
Accumulated deficit	(11,855)	(12,143)
Accumulated other comprehensive income	13,628	18,847
Total equity	175,369	164,636
Total liabilities and equity	$ 185,788	$ 178,173

Consolidated Statements of Loss

Consolidated Statements of Loss and Comprehensive Income (Loss) - CAD ($) $ in Thousands	12 Months Ended
	Apr. 30, 2023	Apr. 30, 2022
Revenue [abstract]
Sales of uranium inventory	$ 13,854	$ 0
Cost of sales [Abstract]
Cost of uranium inventory	(11,035)	0
Gross profit	2,819	0
Expenses
Depreciation	(24)	(2)
Consulting fees	(166)	(144)
Management and directors' fees	(578)	(472)
Salaries, wages and benefits	(395)	(174)
Uranium storage fee	(595)	(214)
Investor communications and marketing expenses	(1,691)	(1,382)
Office and technology expenses	(319)	(109)
Transfer agent and regulatory fees	(492)	(464)
Insurance fees	(511)	(489)
Professional fees	(903)	(775)
Write-off of royalty option	0	(125)
Share-based compensation	(927)	(1,268)
Operating loss	(3,782)	(5,618)
Other items
Other income	146	0
Interest expense	(1,636)	(722)
Interest income	67	37
Gain on sale of marketable securities	0	126
Net foreign exchange loss	(653)	(272)
Loss before taxes	(5,858)	(6,449)
Deferred income tax recovery	15	2,192
Net loss for the year	(5,843)	(4,257)
Items that will not subsequently be re-classified to net income:
Gain on revaluation of short-term investments	108	16,242
Deferred tax expense on short-term investments	(15)	(2,192)
Item that may subsequently be re-classified to net income:
Foreign currency translation differences	819	612
Total other comprehensive income for the year	912	14,662
Total comprehensive income (loss) for the year	$ (4,931)	$ 10,405
Net loss per share, basic and diluted	$ (0.06)	$ (0.05)
Weighted average number of shares, outstanding, basic and diluted	97,948,882	88,268,372

Consolidated Statements of Chan

Consolidated Statements of Changes in Equity - CAD ($) $ in Thousands	Total	Issued Capital [Member]	Reserves [Member]	Reserves [member]	Accumulated Deficit [Member]	Accumulated Other Comprehensive Income [Member]
Balance at Apr. 30, 2021	$ 75,636	$ 72,985	$ 6,352		$ (7,886)	$ 4,185
Balance, Shares at Apr. 30, 2021		74,604,531
Common shares issued upon exercise of warrants	14,968	$ 16,890	(1,922)
Common shares issued upon exercise of warrants, Shares		7,543,495
Common shares issued upon exercise of options	532	$ 742	(210)
Common shares issued upon exercise of options, Shares		152,500
Common shares issued to acquire royalties	4,113	$ 4,113
Common shares issued to acquire royalties, Shares		970,017
Public offering: Common shares issued for cash	25,010	$ 25,010
Public offering: Common shares issued for cash, Shares		6,100,000
Public offering: Underwriters' fees and issuance costs	(1,646)	$ (1,646)
At-the-Market offering: Common shares issued for cash	35,231	$ 35,231
At-the-Market offering: Common shares issued for cash, Shares		6,175,771
At-the-Market offering Agents' fees and issuance costs	(881)	$ (881)
Share-based compensation	1,268		1,268
Net loss for the year	(4,257)				(4,257)
Other comprehensive income	14,662					14,662
Balance at Apr. 30, 2022	164,636	$ 152,444	5,488		(12,143)	18,847
Balance, Shares at Apr. 30, 2022		95,546,314
Common shares issued upon exercise of warrants	382	$ 430	(48)
Common shares issued upon exercise of warrants, Shares		190,894
Common shares issued upon exercise of options	131	$ 179	(48)
Common shares issued upon exercise of options, Shares		37,500
At-the-Market offering: Common shares issued for cash	14,589	$ 14,589
At-the-Market offering: Common shares issued for cash, Shares		4,029,021
At-the-Market offering Agents' fees and issuance costs	(365)	$ (365)
Other comprehensive income, net of tax, gains (losses) from investments in equity instruments					6,131	(6,131)
Share-based compensation	927			$ 927
Net loss for the year	(5,843)				(5,843)
Other comprehensive income	912					912
Balance at Apr. 30, 2023	$ 175,369	$ 167,277	$ 6,319		$ (11,855)	$ 13,628
Balance, Shares at Apr. 30, 2023		99,803,729

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - CAD ($) $ in Thousands	12 Months Ended
	Apr. 30, 2023	Apr. 30, 2022
Cash flows from (used in) operating activities [abstract]
Profit (loss) before tax	$ (5,858)	$ (6,449)
Adjustments to reconcile profit (loss) [abstract]
Depreciation	24	2
Interest expense	1,636	722
Interest income	(67)	(37)
Other income	(146)	0
Gain on sale of marketable securities	0	(126)
Share-based compensation	927	1,268
Write-off of royalty option	0	125
Net foreign exchange loss	706	326
Net changes in non-cash working capital items:
Inventories	(10,384)	(62,610)
Prepaids and other receivables	1,620	(1,963)
Accounts payable and accrued liabilities	80	(60)
Cash used in operating activities	(11,462)	(68,802)
Cash flows from (used in) investing activities [abstract]
Investment in royalties and royalty options	(2,170)	(13,753)
Interest received	68	37
Net proceeds from sale of short-term investments	16,551	4,296
Restricted cash deposit	587	0
Investment in short-term investments	(2,850)	(9,670)
Cash generated from (used in) investing activities	12,186	(19,090)
Cash flows from (used in) financing activities [abstract]
Proceeds from public offering, net of underwriters' fees and issuance costs	0	23,384
Proceeds from At-the-Market offering, net of agents' fees and issuance costs	14,224	34,350
Proceeds from common shares issued upon exercise of options and warrants	513	15,500
Net proceeds from margin loan payable	(4,168)	12,415
Payments of lease liability	(25)	(3)
Interest and fees paid	(1,348)	(582)
Cash generated from financing activities	9,196	85,064
Effect of exchange rate changes on cash	1	(1)
Net increase (decrease) in cash and cash equivalents	9,921	(2,829)
Cash and cash equivalents - Beginning of year	4,385	7,214
Cash and cash equivalents - End of year	$ 14,306	$ 4,385

Corporate Information

Corporate Information	12 Months Ended
	Apr. 30, 2023
Corporate Information
Corporate Information	1. Corporate Information Uranium Royalty Corp. ("URC" or "the Company") is a company incorporated in Canada on April 21, 2017 and domiciled in Canada. URC is principally engaged in acquiring and assembling a portfolio of royalties, investing in companies with exposure to uranium and trading in physical uranium. The registered office of the Company is located at 1000 Cathedral Place, 925 West Georgia Street, Vancouver, British Columbia, V6C 3L2, Canada. The principal address of the Company is 1030 West Georgia Street, Suite 1830, Vancouver, British Columbia, V6E 2Y3, Canada. As of April 30, 2023, the Company was listed on the TSX Venture Exchange (the "TSX-V"). Effective as of market close on July 5, 2023, the Company was delisted from the TSX-V and effective on July 6, 2023, the Company is listed on the Toronto Stock Exchange (the "TSX" and together with the TSX-V, as applicable, the "Exchange"). The Company's common shares and common share purchase warrants, each of which is exercisable into one common share at an exercise price of $ 2.00 per share until December 6, 2024 (the "Listed Warrants"), are listed on the TSX under the symbols "URC" and "URC.WT", respectively. The Company's common shares are traded on the NASDAQ Capital Market under the symbol "UROY".

Basis of Presentation

Basis of Presentation	12 Months Ended
	Apr. 30, 2023
Disclosure Of Basis Of Preparation Of Financial Statements [Abstract]
Basis of Presentation	2. Basis of Preparation 2.1 Statement of compliance The Company's consolidated financial statements have been prepared in accordance with International Financial Reporting Standards as issued by the International Accounting Standards Board ("IFRS"). These consolidated financial statements were authorized for issue by the Company's board of directors on July 13, 2023. 2.2 Basis of presentation The Company's consolidated financial statements have been prepared on a historical cost basis except for financial instruments that have been measured at fair value. The Company's consolidated financial statements are presented in thousands of Canadian dollars ("$" or "dollars") which is also the functional currency of URC. All values are rounded to the nearest thousand except where otherwise indicated. 2.3 Basis of consolidation The consolidated financial statements include the financial statements of Uranium Royalty Corp. and its wholly-owned subsidiaries, being Uranium Royalty (USA) Corp. ("URUSA") and Reserve Minerals, LLC ("RM"). Subsidiaries are consolidated from the date the Company obtains control, and continue to be consolidated until the date that control ceases. Control is achieved when the Company is exposed to, or has rights to, variable returns from its involvement with the entity and has the ability to affect those returns through its power over the entity. All inter-company transactions, balances, income and expenses are eliminated through the consolidation process. The accounts of URUSA and RM are prepared for the same reporting period as the parent company, using consistent accounting policies. The functional currency of URUSA and RM is the United States dollar. Foreign operations are translated into Canadian dollars using the period end exchange rate as to assets and liabilities and the average exchange rate as to income and expenses. All resulting exchange differences are recognized in other comprehensive income.

Significant Accounting Policies

Significant Accounting Policies	12 Months Ended
	Apr. 30, 2023
Significant Accounting Policies
Significant Accounting Policies	Significant Accounting Policies Foreign currencies Foreign currency transactions are translated into the functional currency using the exchange rates prevailing at the date of the transaction. Monetary assets and liabilities are translated using the period end exchange rates. Foreign currency gains and losses resulting from the settlement of such transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognized in the consolidated statements of comprehensive loss. Royalties and royalty options All direct costs related to the acquisition of royalties and royalty options are capitalized on a property-by-property basis. The Company assesses the carrying costs for impairment when indicators of impairment exist. Project evaluation costs that are not related to a specific agreement are expensed in the period incurred. Producing royalty interests are recorded at cost in accordance with International Accounting Standard 16, Property, Plant and Equipment and depleted using the units of production method over the life of the property to which the royalty relates, which is estimated using available information of proven and probable mineral reserves specifically associated with the properties and may include a portion of resources expected to be classified as mineral reserves at the mine corresponding to the specific interest . Impairment of non-financial assets At the end of each reporting period, the Company reviews the carrying amounts of its tangible and intangible assets to determine whether there is an indication that those assets have suffered an impairment loss. If any such indication exists or when annual impairment testing for an asset is required, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the Company estimates the recoverable amount of the cash‐generating unit to which the assets belong. Impairment reviews for exploration stage royalties are carried out on a property-by-property basis, with each royalty representing a single cash generating unit. An impairment review is undertaken when indicators of impairment arise. Recoverable amount is the higher of an asset's (or cash-generating unit's) fair value less costs of disposal and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre‐tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset. If the recoverable amount of an asset (or cash‐generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash‐generating unit) is reduced to its recoverable amount. An impairment loss is recognized immediately in the consolidated statements of comprehensive loss. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash‐generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount, net of depreciation, that would have been determined had no impairment loss been recognized for the asset (or cash‐generating unit) in prior years. Income taxes Income tax expense represents the sum of tax currently payable and deferred tax. Current income tax assets and liabilities are measured at the amount expected to be recovered from or paid to the taxation authorities. The tax rates and tax laws used to compute the amount are those that are enacted or substantively enacted at the end of each reporting period. Deferred income tax is provided using the liability method on temporary differences, at the end of each reporting period, between the tax bases of assets and liabilities and their carrying amounts for financial reporting purposes. 3. Significant Accounting Policies (continued) Income taxes (continued) Deferred income tax liabilities are recognized for all taxable temporary differences, except: ● where the deferred income tax liability arises from the initial recognition of goodwill or of an asset or liability in a transaction that is not a business combination and, at the time of the transaction, affects neither the accounting profit nor taxable profit or loss; and ● in respect of taxable temporary differences associated with investments in subsidiaries, where the timing of the reversal of the temporary differences can be controlled and it is probable that the temporary differences will not reverse in the foreseeable future. Deferred income tax assets are recognized for all deductible temporary differences, carry forward of unused tax credits and unused tax losses, to the extent that it is probable that taxable profit will be available against which the deductible temporary differences and the carry forward of unused tax credits and unused tax losses can be utilized except: ● where the deferred income tax asset relating to the deductible temporary difference arises from the initial recognition of an asset or liability in a transaction that is not a business combination and, at the time of the transaction, affects neither the accounting profit nor taxable profit or loss; and ● in respect of deductible temporary differences associated with investments in subsidiaries, deferred income tax assets are recognized only to the extent that it is probable that the temporary differences will reverse in the foreseeable future and taxable profit will be available against which the temporary differences can be utilized. The carrying amount of deferred income tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profit will be available to allow all or part of the deferred income tax asset to be utilized. Unrecognized deferred income tax assets are reassessed at the end of each reporting period and are recognized to the extent that it has become probable that future taxable profit will allow the deferred tax asset to be recovered. Deferred income tax assets and liabilities are measured at the tax rates that are expected to apply to the year when the asset is realized or the liability is settled, based on tax rates (and tax laws) that have been enacted or substantively enacted at the end of each reporting period. Deferred income tax relating to items recognized directly in equity is recognized in equity and not in the consolidated statements of comprehensive loss. Deferred income tax assets and deferred income tax liabilities are offset if, and only if, a legally enforceable right exists to set off current tax assets against current tax liabilities and the deferred tax assets and liabilities relate to income taxes levied by the same taxation authority on either the same taxable entity or different taxable entities which intend to either settle current tax liabilities and assets on a net basis, or to realize the assets and settle the liabilities simultaneously, in each future period in which significant amounts of deferred tax assets or liabilities are expected to be settled or recovered. Cash Cash comprises of cash on deposit with banks and highly liquid short-term interest-bearing investments with a term to maturity at the date of purchase of 90 days or less which are subject to an insignificant risk of change in value. Restricted cash Restricted cash includes cash that has been pledged for credit facilities which are not available for immediate disbursement. Financial Instruments Financial instruments are recognized in the consolidated statements of financial position on the trade date, being the date in which the Company becomes a party to the contractual provisions of the financial instrument. The Company's financial instruments consist of cash, restricted cash, short-term investments, accounts payable and accrued liabilities, government loan payable and margin loan payable. All financial instruments are initially recorded at fair value and designated as follows: 3. Significant Accounting Policies (continued) Financial Instruments (continued) Cash and restricted cash are classified as financial assets at amortized cost. Accounts payable and accrued liabilities government loan payable and margin loan payable are classified as financial liabilities at amortized cost. Both financial assets at amortized cost and financial liabilities at amortized cost are subsequently measured using the effective interest rate method. Investments in ordinary and common shares are held for strategic purposes and not for trading. The Company classified these investments as fair value through other comprehensive income ("FVTOCI"). Such investments are measured at fair value at the end of each reporting period, with any gains or losses arising on re-measurement recognized as a component of other comprehensive income. Cumulative gains and losses are not subsequently reclassified to profit or loss. Transaction costs on initial recognition of financial instruments classified as FVTOCI are recognized in other comprehensive income as part of a change in fair value at the next remeasurement. Financial assets are derecognized when the contractual rights to the cash flows from the asset expire. Financial liabilities are derecognized only when the Company's obligations are discharged, canceled or otherwise expire. On derecognition, the difference between the carrying amount (measured at the date or derecognition) and the consideration received (including any new asset obtained less any new liability obtained) is recognized in profit or loss. Leases At the inception of a contract, the Company assesses whether a contract is, or contains, a lease based on whether the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration. The Company has elected not to recognize right of use assets and lease liabilities for short-term leases that have a lease term of 12 months or less and leases of low-value assets. The lease payments associated with short-term leases are recognized as expenses on a straight-line basis over the lease term. The Company recognizes a lease liability and a right-of-use asset at the lease commencement date. Leases are recognized as a right-of-use asset and a corresponding liability as at the date at which the leased asset is available for use by the Company. Each lease payment is allocated between the liability and finance cost. The finance cost is charged to consolidated statements of loss and other comprehensive income over the lease term so as to produce a constant periodic rate of interest on the remaining balance of the liability for each period. The right-of-use asset is depreciated over the shorter of the asset's useful life and the lease term on a straight-line basis. Assets and liabilities arising from a lease are initially measured on a present value basis. The lease payments are discounted using the interest rate implicit in the lease. If that rate cannot be readily determined, the Company's incremental borrowing rate is used, being the rate that the Company would have to pay to borrow the funds necessary to obtain an asset of similar value in a similar economic environment with similar terms and conditions. Revenue Recognition The Company generates revenue from the sale of uranium inventory from contracts with customers. The Company recognizes revenue when it transfers control of the uranium inventory to the customer, which occurs when title transfer of the uranium inventory is confirmed by the conversion facility. Sales contracts with customers are pursuant to enforeceable contracts that indicate the nature and timing of satisfaction of performance obligations, including specifying the quantity of inventory sold, the price, the payment terms, the date of delivery and the location of the conversion facility to be delivered. Revenue is measured at the fair value of the consideration received or receivable. Inventories Inventories are measured at the lower of cost and net realizable value. Under certain royalty agreements, the Company has an option to elect to receive royalty proceeds through delivery of physical uranium. When the quantity of physical uranium that the Company is reasonably expecting to receive under the royalty agreement is determinable, it is recorded as inventory. The amount recognized for inventory includes both the cash payment, if applicable, and the related depletion associated with the related royalty. Cost of purchased inventory is determined by the weighted average cost method. Net realizable value is the estimated selling price in the ordinary course of business less the estimated costs necessary to make the sale. 3. Significant Accounting Policies (continued) Related party transactions Parties are considered to be related if one party has the ability, directly or indirectly, to control the other party or exercise significant influence over the other party in making financial and operating decisions. Parties are also considered to be related if they are subject to common control. Related parties may be individuals or corporate entities. A transaction is considered to be a related party transaction when there is a transfer of resources or obligations between related parties. Net loss per share Basic net loss per share includes no potential dilution and is computed by dividing the net loss attributable to common stockholders by the weighted average number of common shares outstanding for the period. The basic and diluted net loss per share are the same as there are no instruments that have a dilutive effect on earnings. Share-based payments The Company uses the Black-Scholes option-pricing model to determine the grant date fair value of share options. The fair value of share options granted to employees is recognized as an expense over the vesting period with a corresponding increase in equity. An individual is classified as an employee when the individual is an employee for legal or tax purposes, provides services that could be provided by a direct employee, or has authority and responsibility for planning, directing and controlling the activities of the Company, including non-executive directors. The fair value is measured at the grant date and recognized over the period during which the options vest. Consideration received on the exercise of share options is recorded as issued capital and the related share-based compensation reserve is transferred to issued capital. Significant accounting judgments and estimates The preparation of these consolidated financial statements requires management to make accounting policy judgments and estimates and form assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and reported amounts of income and expenses during the reporting period. On an ongoing basis, management evaluates its accounting policy judgments and estimates in relation to assets, liabilities, income and expenses. Management uses historical experience and various other factors it believes to be reasonable under the given circumstances as the basis for its judgments and estimates. Actual outcomes may differ from these estimates under different assumptions and conditions. Management is required to make judgements in the application of the Company's accounting policies. The significant accounting policy judgements relevant to the current period are as follows: • The Company's business is the acquisition of royalties. Each royalty has its own unique terms and judgement is required to assess the appropriate accounting treatment. The assessment of whether an acquisition meets the definition of a business or whether assets are acquired is an area of judgement. In evaluating whether a transaction is a business combination management must consider if the acquired assets or entities encompass an integrated set of activities and assets that is capable of being conducted and managed for the purpose of generating income. Additionally, an optional asset concentration test may be applied. If deemed to be a business combination, applying the acquisition method to business combinations requires each identifiable asset and liability to be measured at its acquisition date fair value. The excess, if any, of the fair value of the consideration over the fair value of the net identifiable assets acquired is recognized as goodwill. • The assessment of impairment of royalty and other interests requires the use of judgments, assumptions and estimates when assessing whether there are any indicators that could give rise to the requirement to conduct a formal impairment test as well as in the assessment of fair values. When assessing whether there are indicators of impairment, management uses its judgment in evaluating the indicators, including but not limited to whether further exploration or evaluation expenditure in the area is planned or budgeted, whether commercially viable deposits have been discovered or if sufficient work has been performed to indicate that the carrying amount of the asset will not be fully recovered, whether there are observable indications that the asset's value has declined during the period, significant declines in future commodity prices, significant increases in market interest rates, significant adverse changes in foreign exchange rates and taxes, and operator reserve and resource estimates or other relevant information received from the operators that indicates production from royalty interests will not likely occur or may be significantly reduced in the future. In addition, the Company may use other approaches in determining fair value which may include estimates related to (i) dollar value per unit of mineral reserve/resource; (ii) cash-flow multiples; (iii) comparable transactions and (iv) market capitalization of comparable companies. Changes in any of the estimates used in determining the fair value of the royalty and other interests could impact the impairment analysis. 3. Significant Accounting Policies (continued) Significant accounting judgments and estimates (continued) Information about significant sources of estimation uncertainty are described below. • The Company estimates the attributable reserve and resource relating to the mineral properties underlying the royalties that are held by the Company. Reserves and resources are estimates of the amount of minerals that can be economically and legally extracted from the mining properties at which the Company has royalty interests, adjusted where applicable to reflect the Company's percentage entitlement to minerals produced from such mines. The public disclosures of reserves and resources that are released by the operators of the interests involve assessments of geological and geophysical studies and economic data and the reliance on a number of assumptions, including commodity prices and production costs. The estimates of reserves and resources may change based on additional knowledge gained subsequent to the initial assessment. Changes in the reserve or resource estimates may impact the carrying value of the Company's royalty interests.

Cash and Restricted Cash

Cash and Restricted Cash	12 Months Ended
	Apr. 30, 2023
Cash and cash equivalents [abstract]
Cash and Restricted Cash	4. Cash and Restricted Cash As at April 30, 2023, the Company held cash of $ 14,306 (April 30, 2022: $ 4,385 ). In addition, the Company held restricted cash of $ 110 (April 30, 2022: $ 697 ). During the year ended April 30, 2023, $ 642 restricted cash held by the Company as security for a foreign exchange facility as at April 30, 2022 was released. Restricted cash held at April 30, 2023 relates to security for a corporate credit card.

Short-term Investments

Short-term Investments	12 Months Ended
	Apr. 30, 2023
Current financial assets at fair value through other comprehensive income [abstract]
Disclosure of investments accounted for using equity method [text block]	5. Short-term Investments As at April 30, 2023 As at April 30, 2022 ($) ($) Fair value, at the beginning of the year 51,787 30,045 Additions for the year 2,996 9,670 Disposals for the year ( 16,551 ) ( 4,170 ) Fair value adjustment due to foreign exchange rate change for the year 1,742 ( 1,451 ) Fair value adjustment due to share price change for the year ( 1,634 ) 17,693 Fair value, at the end of the year 38,340 51,787 As at April 30, 2023, the fair value of the Company's investment in Yellow Cake plc ("Yellow Cake") and Queen's Road Capital Investment Ltd. ("QRC") is $ 32,091 (April 30, 2022: $ 44,912 ) and $ 6,249 (April 30, 2022: $ 6,875 ), respectively. Pursuant to an agreement between Yellow Cake and the Company, Yellow Cake granted the Company an option to acquire at market between US$ 2.5 million and US$ 10 million of tri-uranium octoxide ("U 3 O 8 ") per year between January 1, 2019 and January 1, 2028, up to a maximum amount of US$ 21.25 million worth of U 3 O 8 as at April 30, 2023. Yellow Cake has also agreed to inform the Company of any opportunities for royalties, streams or similar interests identified by Yellow Cake with respect to uranium and the Company has an irrevocable option to elect to acquire up to 50% of any such opportunity alongside Yellow Cake, in which case the parties shall work together in good faith to pursue any such opportunities jointly. Further, the Company has agreed to inform Yellow Cake of potential opportunities that it identifies in relation to the purchase and taking delivery of physical U 3 O 8 by the Company. Furthermore, the Company and Yellow Cake have agreed to, so far as it is commercially reasonable to do so, cooperate to identify potential opportunities to work together on other uranium related joint participation endeavors. The ordinary shares of Yellow Cake and common shares of QRC are listed on the Alternative Investment Market of the London Stock Exchange and the TSX, respectively. During the year ended April 30, 2023, the Company sold a portion of its shares in Yellow Cake and all of its shares in Sprott Physical Uranium Trust for proceeds of $ 16,551 and realized a gain of $ 7,082 (2022: $ Nil ) which had already been included in accumulated other comprehensive income. This gain is transferred to accumulated deficit, net of tax of $ 951 (2022: $ Nil ). During the year ended April 30, 2023, the Company recognized a change in fair value of short-term investments in an aggregate of $ 108 (2022: $ 16,242 ) and deferred income tax of $ 15 (2022: $ 2,192 ) in other comprehensive income. The ordinary shares of Yellow Cake are pledged as a security for the margin loan (Note 9).

Inventories

Inventories	12 Months Ended
	Apr. 30, 2023
Classes of current inventories [abstract]
Inventories	6. Inventories As at April 30, 2023, the Company holds 1,548,068 pounds (April 30, 2022: 1,448,068 pounds) of U 3 O 8 with a carrying value of $ 85,561 (April 30, 2022: $ 75,030 ).

Royalties and Royalty Options

Royalties and Royalty Options	12 Months Ended
	Apr. 30, 2023
Royalties And Royalty Options
Royalties and Royalty Options	7. Royalties and Royalty Options Royalties Royalty Options Total ($) ($) ($) Balance, as at April 30, 2021 25,452 125 25,577 Additions 17,814 143 17,957 Foreign currency translation 614 - 614 Write-off - ( 125 ) ( 125 ) Balance, as at April 30, 2022 43,880 143 44,023 Additions 2,313 ( 143 ) 2,170 Depletion ( 147 ) - ( 147 ) Foreign currency translation 818 - 818 Balance, as at April 30, 2023 46,864 - 46,864 Cost Accumulated Depletion Carrying Amount April 30, 2022 Additions Foreign Currency Translation April 30, 2023 April 30, 2022 Depletion April 30, 2023 April 30, 2023 ($) ($) ($) ($) ($) ($) ($) ($) Anderson project 7,348 - 403 7,751 - - - 7,751 Church Rock project 751 - 41 792 - - - 792 Cigar Lake project 4,704 - - 4,704 - - - 4,704 Dawn Lake project 143 139 - 282 - - - 282 Dewey-Burdock project 76 1,355 14 1,445 - - - 1,445 Energy Queen project - 67 1 68 - - - 68 Lance project 1,688 - 93 1,781 - - - 1,781 Langer Heinrich project 2,822 - - 2,822 - - - 2,822 McArthur River project 11,543 - - 11,543 - ( 147 ) ( 147 ) 11,396 Michelin project 4,262 - - 4,262 - - - 4,262 Reno Creek project 289 - 16 305 - - - 305 Roca Honda project 159 - 8 167 - - - 167 Roughrider project 5,923 - - 5,923 - - - 5,923 San Rafael project - 542 4 546 - - - 546 Slick Rock project 2,916 - 160 3,076 - - - 3,076 Whirlwind project - 67 1 68 - - - 68 Workman Creek project 1,399 - 77 1,476 - - - 1,476 44,023 2,170 818 47,011 - ( 147 ) ( 147 ) 46,864 During the year ended April 30, 2023, the Company acquired: • a 10 % to 20 % sliding scale net profits interest (an "NPI") royalty on a 7.5 % share of overall uranium production from the Dawn Lake project lands for cash consideration of $ 139 ; and • a 2 % to 4 % gross value royalty on a portion of the Dewey-Burdock property, a 1 % gross value royalty on portions of the Energy Queen project, a 2 % net smelter return royalty on portions of the San Rafael project and a 2 % to 4 % sliding scale gross value royalty on portions of the Whirlwind project for an aggregate cash consideration of $ 2,031 . The Company's royalties are detailed below: Anderson, Slick Rock and Workman Creek Projects The Company holds a one percent ( 1 %) net smelter return royalty for uranium on Anderson project, Slick Rock project, and Workman Creek project in the USA. 7. Royalties and Royalty Options (continued) Church Rock and Roca Honda Projects The Company holds a 4 % net smelter return royalty on the Church Rock property and a 4 % gross revenues royalty on a portion of the Roca Honda property in the USA. The Roca Honda royalty is subject to the right of the payor to purchase the royalty for US$ 5,000,000 at any time prior to the first royalty payment becoming due thereunder. Dewey-Burdock Project The Company holds a 30 % net proceeds royalty and a 2 % to 4 % gross value royalty on a portion of the Dewey-Burdock property in the USA . Lance Project The Company holds a 4 % gross revenues royalty on a portion of the Lance property and an additional 1 % gross revenues royalty which covers the entirety of the current permitted project area in the USA. Langer Heinrich Project The Company holds a production royalty of Australian $ 0.12 per kilogram of yellow cake produced from the Langer Heinrich uranium project in Namibia. Michelin Project The Company holds a 2 % gross revenues royalty on the Michelin property in Canada. Reno Creek Project The Company holds a 0.5 % net profit interest royalty, with a maximum amount payable thereunder of US$ 2.5 million, on a portion of the Reno Creek property in the USA. Roughrider Project The Company holds a 1.97 % net smelter return royalty on the Roughrider property in Canada. Energy Queen, San Rafael and Whirlwind Projects The Company holds a 1 % gross value royalty on portions of the Energy Queen project, a 2 % net smelter return royalty on portions of the San Rafael project and a 2 % to 4 % sliding scale gross value royalty on portions of the Whirlwind project in the USA. The Company may choose to take product payment in physical ore or concentrates produced from the Energy Queen and Whirlwind projects. Cigar Lake, McArthur River and Dawn Lake Projects The Company holds (i) a 1 % gross overriding royalty on an approximate 9 % share of uranium production derived from an approximate 30.195 % ownership interest of Orano Canada Inc. ("Orano") on the McArthur River Project located in Saskatchewan, Canada; (ii) a 10 % to 20 % sliding scale NPI royalty on a 3.75 % share of overall uranium production, drawn from Orano's approximate 40.453 % ownership interest in the Waterbury Lake / Cigar Lake Project (the "Waterbury Lake / Cigar Lake Project") located in Saskatchewan, Canada. In November 2022, the Company notified Orano of its election to receive royalty proceeds from the re-started McArthur River mine through delivery of physical uranium. As a result, the Company recorded a depletion of $ 147 (2022: $Nil) on the McArthur River royalty and an increase in inventory by the same amount. The royalty on the Dawn Lake project was previously subject to an option held by the Company. During the year ended April 30, 2023, the Company completed the acquisition of the royalty on the Dawn Lake project through the acquisition of RM, the holder of the royalty. The Company holds a 10 % to 20 % sliding scale NPI on a 7.5 % share of overall uranium production from the Dawn Lake project located in Saskatchewan, Canada. 7. Royalties and Royalty Options (continued) Cigar Lake, McArthur River and Dawn Lake Projects (continued) The sliding scale NPI royalty percentage will decrease to 10 % after the combined production on the Waterbury Lake / Cigar Lake and Dawn Lake projects reach 200 million pounds U 3 O 8 .

Government Loan Payable

Government Loan Payable	12 Months Ended
	Apr. 30, 2023
Government Loan Payable
Government Loan Payable	8. Government Loan Payable On April 23, 2020, the Company received a loan of $ 40 through the Canadian Emergency Business Account Program ("CEBA Loan"), which provided financial relief for Canadian businesses during the COVID-19 pandemic. The CEBA Loan is unsecured, non-revolving and non-interest bearing prior to December 31, 2023. If at least 75% of the CEBA Loan is repaid prior to December 31, 2023, the remaining balance of the CEBA Loan will be forgiven. The CEBA Loan was fully settled subsequent to April 30, 2023.

Margin Loan Payable

Margin Loan Payable	12 Months Ended
	Apr. 30, 2023
Bank Debt Instruments [Abstract]
Bank debt instruments	9. Margin Loan Payable On May 7, 2021, as amended and restated on January 17, 2023, the Company established a margin loan facility for a maximum amount of approximately $ 18,552 (US$ 15 million) (the "Facility"). The margin loan is subject to an interest rate of Adjusted Term SOFR Rate plus 5.50 % per annum and the unutilized portion of the Facility is subject to a standby fee of 2.50 % per annum. The Adjusted Term SOFR Rate shall mean on any date the Term SOFR Reference Rate published by CME Group Benchmark Administration Limited for the tenor comparable to the applicable interest period, plus credit spread adjustment. In addition, the Company paid a one-time facility fee equal to 1.25 % of the Facility. The Facility was secured by a pledge of all the shares of Yellow Cake held by the Company (Note 5). The Facility matured on May 5, 2023 , unless repaid earlier, and was subject to customary margin requirements and share price triggers. During the year ended April 30, 2023, the Company partially repaid $ 14.9 million (US$ 11.1 million), of which a portion of the repayment was funded by the proceeds received from the disposition of the Yellow Cake ordinary shares. The Facility was fully settled and extinguished on May 3, 2023. The following outlines the movement of the margin loan during the year ended at April 30, 2023: US$'000 $ Draw-down 10,175 12,710 Less: transaction costs and fees ( 239 ) ( 295 ) Interest expense 573 721 Interest paid ( 462 ) ( 582 ) Unrealized foreign exchange loss — 354 Balance, as at April 30, 2022 10,047 12,908 Draw-down 8,000 10,696 Less: principal payment ( 11,121 ) ( 14,864 ) Interest expense 1,270 1,628 Interest paid ( 1,019 ) ( 1,348 ) Unrealized foreign exchange loss — 706 Balance, as at April 30, 2023 7,177 9,726

Issued Capital

Issued Capital	12 Months Ended
	Apr. 30, 2023
Disclosure of classes of share capital [abstract]
Issued Capital	10. Issued Capital 10.1 Common Shares The authorized share capital of the Company is comprised of an unlimited number of common shares and an unlimited number of preferred shares issuable in series without par value. At-the-Market Equity Program On August 18, 2021, the Company entered into an equity distribution agreement (the "2021 Distribution Agreement") with a syndicate of agents led by BMO Nesbitt Burns Inc., and including BMO Capital Markets Corp., H.C. Wainwright & Co. LLC, Canaccord Genuity Corp., Canaccord Genuity LLC, Paradigm Capital Inc., TD Securities Inc. and TD Securities (USA) LLC (collectively, the "Agents"), for an at-the-market equity program (the "ATM Program"). The 2021 Distribution Agreement allowed the Company to distribute up to US$ 40 million (or the equivalent in Canadian dollars) of common shares of the Company (the "ATM Shares") under the ATM Program. The ATM Shares were issued by the Company to the public from time to time, through the Agents, at the Company's discretion. The ATM Shares sold under the ATM Program, if any, were sold at the prevailing market price at the time of sale. The 2021 Distribution Agreement was terminated on September 1, 2022 . On September 1, 2022, the Company renewed its ATM Program that allows the Company to distribute up to US$ 40 million (or the equivalent in Canadian dollars) of ATM Shares to the public from time to time, through the Agents, at the Company's discretion. The ATM Shares sold under the ATM Program, if any, will be sold at the prevailing market price at the time of sale. Sales of ATM Shares will be made pursuant to the terms of an equity distribution agreement dated September 1, 2022 (the "2022 Distribution Agreement"). Unless earlier terminated by the Company or the Agents as permitted therein, the 2022 Distribution Agreement will terminate upon the earlier of (a) the date that the aggregate gross sales proceeds of the ATM Shares sold under the ATM Program reaches the aggregate amount of US$ 40 million (or the equivalent in Canadian dollars); or (b) July 14, 2023. During the year ended April 30, 2023, the Company issued 4,029,021 (2022: 6,175,771 ) common shares under both 2021 Distribution Agreement and 2022 Distribution Agreement for gross proceeds of $ 14,589 (2022: $ 35,231 ), with aggregate commissions paid or payable to the Agents and other share issue costs of $ 365 (2022: $ 881 ). 10.2 Reserves Common Share Purchase Warrants and Options The following outlines the movements of the Company's warrants and options: Warrants Share Options Total ($) ($) ($) Balance, as at April 30, 2021 6,352 — 6,352 Common shares issued upon exercise of warrants ( 1,922 ) — ( 1,922 ) Common shares issued upon exercise of options — ( 210 ) ( 210 ) Share-based compensation — 1,268 1,268 Balance, as at April 30, 2022 4,430 1,058 5,488 Common shares issued upon exercise of warrants ( 48 ) — ( 48 ) Common shares issued upon exercise of options — ( 48 ) ( 48 ) Share-based compensation — 927 927 Balance, as at April 30, 2023 4,382 1,937 6,319 During the year ended April 30, 2023, 190,894 warrants were exercised, and 17,393,948 warrants were outstanding as at April 30, 2023. As at April 30, 2023, there are 17,298,360 Listed Warrants at an exercise price of $ 2.00 per share (Note 1), and 95,588 unlisted common share purchase warrants (the "Unlisted Warrants"). The Unlisted Warrants are exercisable into one common share at an exercise price of $ 1.40 per share until December 6, 2024 . Subsequent to April 30, 2023, 565,722 Listed Warrants were exercised for $ 1,131 . 10. Issued Capital (continued) 10.2 Reserves (continued) Share Options The following outlines movements of the Company's share options: Number of Weighted Average Balance at April 30, 2022 755,000 3.62 Granted 500,750 3.29 Forfeited ( 22,250 ) 3.43 Exercised ( 37,500 ) 3.49 Balance at April 30, 2023 1,196,000 3.50 On May 13, 2022, the Company granted 343,750 share options to certain directors, officers, employees and consultants of the Company. These options have an exercise price of $ 3.31 per share and are valid for a period of five years. The options will vest as follows: (a) 25 % on the grant date; and (b) 25 % on each of the dates that are 6, 12 and 18 months thereafter. In addition, the Company granted share options to purchase 100,000 common shares to a contractor. Such options have an exercise price of $ 3.31 per share and are valid for a period of two years. The options vest incrementally over a 12-month period. On June 20, 2022 and July 7, 2022, the Company granted 25,000 and 25,000 share options, each at an exercise price of $ 3.26 per share and $ 2.88 per share, respectively, to its employees. The options are valid for a period of five years and will vest as follows: (a) 25 % on the grant date; and (b) 25% on each of the dates that are 6, 12 and 18 months thereafter. On September 9, 2022 and October 24, 2022, the Company granted 2,000 and 5,000 share options, each at an exercise price of $ 4.20 per share and $ 3.15 per share, respectively, to its employees. The options are valid for a period of five years and will vest as follows: (a) 25 % on the grant date; and (b) 25% on each of the dates that are 6, 12 and 18 months thereafter. The weighted average fair value of the share options granted was $ 1.72 per share and it was estimated at the date of the grants using the Black-Scholes option pricing model with the following weighted average assumptions: Risk-free interest rate 2.75 % Expected life (years) 3.60 Expected volatility 70.42 % Expected dividend yield 0.00 % Estimated forfeiture rate 4.63 % As there is insufficient trading history of the Company's common shares prior to the date of grant, the expected volatility is based on the historical share price volatility of a group of comparable companies in the sector in which the Company operates over a period similar to the expected life of the share options. 10. Issued Capital (continued) 10.2 Reserves (continued) A summary of share options outstanding and exercisable at April 30, 2023, are as follows: Options Outstanding Options Exercisable Exercise Price Number of Options Weighted Average Exercise Price Weighted Average Remaining Contractual Life Number of Options Exercisable Weighted Average Exercise Price Weighted Average Remaining Contractual Life 5.46 40,000 5.46 3.38 40,000 5.46 3.38 4.93 5,000 4.93 3.71 3,750 4.93 3.71 4.20 1,000 4.20 4.36 1,000 4.20 4.36 4.10 50,000 4.10 3.09 50,000 4.10 3.09 3.49 612,500 3.49 3.09 612,500 3.49 3.09 3.31 100,000 3.31 1.04 75,000 3.31 1.04 3.31 332,500 3.31 4.04 166,875 3.31 4.04 3.26 25,000 3.26 4.14 12,500 3.26 4.14 3.15 5,000 3.15 4.49 2,500 3.15 4.49 2.88 25,000 2.88 4.19 12,500 2.88 4.19 1,196,000 $ 3.50 3.25 976,625 $ 3.55 3.14 The amount of share-based compensation expense recognized by the Company during the year ended April 30, 2023 was $ 927 (2022: $ 1,268 ). 10.3 Long Term Incentive Plan The Company has adopted the long term incentive plan (the "LTIP") which provides that the Board of Directors may, from time to time, in its discretion, grant awards of restricted share units, performance share units, deferred share units, options and stock appreciation rights to directors, key employees and consultants. The LTIP is available to directors, key employees and consultants of the Company, as determined by the Board of Directors. The aggregate number of common shares issuable under the LTIP in respect of awards shall not exceed 10,775,285 common shares. As at April 30, 2023, 1,424,700 share options were granted and 9,389,285 common shares remain available for issuance under the LTIP. So long as it may be required by the rules and policies of the Exchange: (a) the total number of common shares issuable to any participant under the LTIP, at any time, together with common shares reserved for issuance to such participant under any other security-based compensation arrangements of the Company, shall not exceed 5% of the issued and outstanding common shares; (b) the total number of common shares issuable to insiders within any one-year period and at any given time under the LTIP, together with any other security-based compensation arrangement of the Company, shall not exceed 10% of the issued and outstanding common shares; and (c) the total number of common shares issuable to non-executive directors (excluding the Chair of the Board, if any) under the LTIP shall not exceed 3% of the issued and outstanding common shares. The number of options to be granted, the exercise price(s) and the time(s) at which an option may be exercised shall be determined by the Board, in its sole discretion, provided that the exercise price of options shall not be lower than the exercise price permitted by the Exchange, and further provided that the term of any option shall not exceed ten years. So long as it may be required by the rules and policies of the Exchange: (a) options shall not be granted if the exercise thereof would result in the issuance of more than 2% of the issued common shares in any twelve-month period to any one consultant or to persons conducting investor relations activities; and (b) the grant value of common shares issued or reserved for issuance pursuant to options granted under the LTIP to any one non-executive director (excluding the Chair of the Board, if any) plus the number of common shares that are reserved at that time for issue or are issuable to such non-executive director pursuant to any other security-based compensation agreement shall not exceed $ 100,000 in any fiscal year, calculated by the Company as of the grant date. All options granted under the LTIP to persons providing investor relations activities will vest and become exercisable over a period of not less than twelve months, with no more than one quarter of such options vesting and becoming exercisable in any three month period.

Capital Risk Management

Capital Risk Management	12 Months Ended
	Apr. 30, 2023
Capital Risk Management
Capital Risk Management	11. Capital Risk Management The Company's objectives are to safeguard the Company's ability to continue as a going concern in order to support the Company's normal operating requirements and future acquisitions of royalties and streams, and to maintain a flexible capital structure which optimizes the costs of capital at an acceptable risk. The Company manages its capital structure and makes adjustments to it in light of changes in economic conditions and the risk characteristics of the underlying assets. In order to maintain or adjust the capital structure, the Company may issue new shares, debt, acquire or dispose of assets or adjust the amount of cash. At April 30, 2023, the Company's capital structure consists of the equity of the Company (Note 10), government loan payable (Note 8) and margin loan payable (Note 9). The Company is not subject to any externally imposed capital requirements. In order to maximize ongoing development efforts, the Company does not pay dividends.

Financial Instruments

Financial Instruments	12 Months Ended
	Apr. 30, 2023
Disclosure of nature and extent of risks arising from financial instruments [abstract]
Disclosure of financial instruments [text block]	12. Financial Instruments At April 30, 2023, the Company's financial assets include cash, restricted cash and short-term investments. The Company's financial liabilities include accounts payable and accrued liabilities, government loan, and margin loan. The Company uses the following hierarchy for determining and disclosing fair value of financial instruments: • Level 1: quoted (unadjusted) prices in active markets for identical assets or liabilities. • Level 2: other techniques for which all inputs have a significant effect on the recorded fair value which are observable, either directly or indirectly. • Level 3: techniques which use inputs that have a significant effect on the recorded fair value that are not based on observable market data. The Company's cash, restricted cash, accounts payable and accrued liabilities and government loan approximate fair value due to their short terms to settlement. The Company's margin loan is measured at amortized cost and classified as level 2 within the fair value hierarchy. The fair value of the margin loan approximates their carrying values as their interest rates are comparable to current market rate risks. The fair value of short-term investments, which are classified as level 1 within the fair value hierarchy, is determined by obtaining the quoted market price of the short-term investment and multiplying it by foreign exchange rate, if applicable, and the quantity of shares held by the Company. 12.1 Financial risk management objectives and policies The financial risk arising from the Company's operations are credit risk, liquidity risk, commodity price risk, interest rate risk, currency risk and other price risk. These risks arise from the normal course of operations and all transactions undertaken are to support the Company's ability to continue as a going concern. The risks associated with these financial instruments and the policies on how the Company mitigates these risks are set out below. Management manages and monitors these exposures to ensure appropriate measures are implemented in a timely and effective manner. 12.2 Credit risk Credit risk is the risk of an unexpected loss if a customer or third-party to a financial instrument fails to meet its contractual obligations. Credit risk for the Company is primarily associated with the Company's bank balances. The Company holds cash with a Canadian chartered financial institution of which the majority of its bank balances is uninsured as at April 30, 2023. The Company's maximum exposure to credit risk is equivalent to the carrying value of its cash and restricted cash balance. 12. Financial Instruments (continued) 12.3 Liquidity risk Liquidity risk is the risk that the Company will not be able to settle or manage its obligations associated with financial liabilities. To manage liquidity risk, the Company closely monitors its liquidity position and ensures it has adequate sources of funding to finance its projects and operations. The Company believes that, taking into account its current cash reserves and other liquid assets, it has sufficient working capital for its present obligations for at least the next twelve months commencing from April 30, 2023. The Company's working capital (current assets less current liabilities) as at April 30, 2023 was $ 128,492 . The Company's accounts payable and accrued liabilities, government loan and margin loan are expected to be realized or settled within a one-year period. 12.4 Commodity price risk The Company's future profitability will be dependent on the royalty income to be received from mine operators. Royalties are based on a percentage of the minerals or the products produced, or revenue or profits generated from the property which is typically dependent on the prices of the minerals the property operators are able to realize. Mineral prices are affected by numerous factors such as interest rates, exchange rates, inflation or deflation and global and regional supply and demand. 12.5 Interest rate risk The Company's exposure to interest rate risk arises from the impact of interest rates on its cash and margin loan, which bear interest at fixed or variable rates. The interest rate risk on the Company's cash balance is minimal. The Company's margin loan bears a floating interest rate and an increase (decrease) of 10 basis point in Adjusted Term SOFR Rate would no t have a significant impact on the net loss for the year ended April 30, 2023. 12.6 Currency risk Financial instruments that impact the Company's net loss or other comprehensive income due to currency fluctuations include short-term investments denominated in UK pounds sterling and cash and margin loan denominated in U.S. dollars. The impact of a Canadian dollar change against UK pounds sterling on short-term investments by 10 % at April 30, 2023 would have an impact, net of tax, of approximately $ 2,776 on other comprehensive income. The impact of a Canadian dollar change against U.S. dollars on cash by 10 % would have an impact of approximately $ 1,375 on net loss for the year ended April 30, 2023. The impact of a Canadian dollar change against the U.S. dollars on the margin loan by 10 % would have an impact of approximately $ 841 on net loss for the year ended April 30, 2023. 12.7 Other price risk The Company is exposed to equity price risk as a result of holding investments in other mining companies. The Company does not actively trade these investments. The equity prices of these investments are impacted by various underlying factors including commodity prices. Based on the Company's short-term investments held as at April 30, 2023, a 10 % change in the equity prices of these investments would have an impact, net of tax, of approximately $ 3,316 on other comprehensive income.

Income Tax

Income Tax	12 Months Ended
	Apr. 30, 2023
Major components of tax expense (income) [abstract]
Disclosure of income tax [text block]	13. Income Tax The Company had no assessable profit for the years ended April 30, 2023 and 2022. A reconciliation of the provision for income taxes computed at the combined Canadian federal and provincial statutory rate to the provision for income taxes as shown in the consolidated statements of loss for the years ended April 30, 2023 and 2022 is as follows: For the year ended 2023 2022 Net loss before tax for the year 5,858 6,449 Statutory rate 27.00 % 27.00 % Recovery of income taxes at statutory rates 1,582 1,741 Non-deductible permanent differences and other ( 159 ) ( 400 ) Change in unrecognized deferred income tax assets ( 1,408 ) 851 Tax recovery for the year 15 2,192 The significant component of the Company's deferred tax assets and liabilities recognized are as follows: As at April 30, 2023 As at April 30, 2022 Deferred tax liabilities: Excess of accounting value of short-term investments over tax value ( 2,136 ) ( 3,062 ) Other deferred tax liabilities ( 65 ) — Deferred tax assets: Non-capital losses carry-forward 2,201 3,062 — — The temporary differences for which deferred income tax assets are not recognized are as follows: As at April 30, 2023 As at April 30, 2022 Non-capital loss carry-forward 10,478 3,995 Financing costs 2,136 2,927 Other deferred tax assets 455 — Unrecognized deferred income tax assets 13,069 6,922 The deferred tax assets have not been recognized in the consolidated financial statements, as management does not consider it more likely than not that those assets will be realized in the near future. Prior years' unrecognized deferred income tax assets true-ups have been netted against current year change in unrecognized deferred income tax assets. The Company has non-capital losses which may be carried-forward to reduce taxable income in future years. The non-capital losses of $ 321 , $ 3,282 , $ 5,052 , $ 1,680 , $ 5,843 and $ 2,434 in Canada will expire on April 30, 2038, 2039, 2040, 2041, 2042 and 2043, respectively.

Related Party Transactions

Related Party Transactions	12 Months Ended
	Apr. 30, 2023
Disclosure of transactions between related parties [abstract]
Disclosure of related party [text block]	14. Related Party Transactions 14.1 Related Party Transactions Related party transactions are based on the amounts agreed to by the parties. During the years ended April 30, 2023 and 2022, the Company did not enter into any contracts or undertake any commitment or obligation with any related parties. 14. Related Party Transactions (continued) 14.2 Transactions with Key Management Personnel Key management personnel are persons responsible for planning, directing and controlling the activities of an entity. The remuneration of directors and key management, for the years ended April 30, 2023 and 2022, comprised of: For the year ended April 30, 2023 2022 ($) ($) Management salaries 378 290 Directors' fees 200 182 Share-based compensation 540 540 Total 1,118 1,012

Operating Segments

Operating Segments	12 Months Ended
	Apr. 30, 2023
Disclosure of operating segments [abstract]
Disclosure of operating segments [text block]	15. Operating Segments The Company conducts its business as a single operating segment, being the acquiring and assembling a portfolio of royalties, investing in companies with exposure to uranium and trading of physical uranium. Except for the short-term investments in Yellow Cake which is listed on the London Stock Exchange in the United Kingdom, the royalties on uranium projects located in the United States and Namibia, substantially all of the Company's assets and liabilities are held within Canada. The Company has only one customer in Canada, which accounted for all of the Company's revenue from the sales of uranium inventory.

Commitments

Commitments	12 Months Ended
	Apr. 30, 2023
Commitments
Commitments	16. Commitments On November 17, 2021, the Company entered into agreements with CGN Global Uranium Ltd ("CGN"), pursuant to which the Company agreed to purchase an aggregate 500,000 pounds of physical uranium at a weighted average price of US$ 47.71 per pound for a total of $ 32.3 million. CGN is contracted to deliver 300,000 pounds of physical uranium on October 20, 2023, 100,000 pounds of physical uranium on June 14, 2024, and 100,000 pounds of physical uranium on April 2, 2025. Payments by the Company are required in October 2023, June 2024 and April 2025.

Subsequent Events

Subsequent Events	12 Months Ended
	Apr. 30, 2023
Disclosure of non-adjusting events after reporting period [abstract]
Disclosure of events after reporting period [text block]	17. Subsequent Events Other than as disclosed elsewhere in these consolidated financial statements, the following material events occurred subsequent to April 30, 2023: In May 2023, the Company entered into a five year agreement to lease a portion of an office premises for an annual lease payment of $ 87 . The lease will commence on August 1, 2023 and expire on November 29, 2028 . On May 29, 2023, the Company purchased 1,100,000 additional shares in QRC in the open market at a price of $ 0.70 per share.

Significant Accounting Polici_2

Significant Accounting Policies (Policies)	12 Months Ended
	Apr. 30, 2023
Significant Accounting Policies
Foreign Currencies	Foreign currencies Foreign currency transactions are translated into the functional currency using the exchange rates prevailing at the date of the transaction. Monetary assets and liabilities are translated using the period end exchange rates. Foreign currency gains and losses resulting from the settlement of such transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognized in the consolidated statements of comprehensive loss.
Royalties and Royalty Options	Royalties and royalty options All direct costs related to the acquisition of royalties and royalty options are capitalized on a property-by-property basis. The Company assesses the carrying costs for impairment when indicators of impairment exist. Project evaluation costs that are not related to a specific agreement are expensed in the period incurred. Producing royalty interests are recorded at cost in accordance with International Accounting Standard 16, Property, Plant and Equipment and depleted using the units of production method over the life of the property to which the royalty relates, which is estimated using available information of proven and probable mineral reserves specifically associated with the properties and may include a portion of resources expected to be classified as mineral reserves at the mine corresponding to the specific interest
Impairment of Non-financial Assets	Impairment of non-financial assets At the end of each reporting period, the Company reviews the carrying amounts of its tangible and intangible assets to determine whether there is an indication that those assets have suffered an impairment loss. If any such indication exists or when annual impairment testing for an asset is required, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the Company estimates the recoverable amount of the cash‐generating unit to which the assets belong. Impairment reviews for exploration stage royalties are carried out on a property-by-property basis, with each royalty representing a single cash generating unit. An impairment review is undertaken when indicators of impairment arise. Recoverable amount is the higher of an asset's (or cash-generating unit's) fair value less costs of disposal and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre‐tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset. If the recoverable amount of an asset (or cash‐generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash‐generating unit) is reduced to its recoverable amount. An impairment loss is recognized immediately in the consolidated statements of comprehensive loss. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash‐generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount, net of depreciation, that would have been determined had no impairment loss been recognized for the asset (or cash‐generating unit) in prior years.
Income Taxes	Income taxes Income tax expense represents the sum of tax currently payable and deferred tax. Current income tax assets and liabilities are measured at the amount expected to be recovered from or paid to the taxation authorities. The tax rates and tax laws used to compute the amount are those that are enacted or substantively enacted at the end of each reporting period. Deferred income tax is provided using the liability method on temporary differences, at the end of each reporting period, between the tax bases of assets and liabilities and their carrying amounts for financial reporting purposes. 3. Significant Accounting Policies (continued) Income taxes (continued) Deferred income tax liabilities are recognized for all taxable temporary differences, except: ● where the deferred income tax liability arises from the initial recognition of goodwill or of an asset or liability in a transaction that is not a business combination and, at the time of the transaction, affects neither the accounting profit nor taxable profit or loss; and ● in respect of taxable temporary differences associated with investments in subsidiaries, where the timing of the reversal of the temporary differences can be controlled and it is probable that the temporary differences will not reverse in the foreseeable future. Deferred income tax assets are recognized for all deductible temporary differences, carry forward of unused tax credits and unused tax losses, to the extent that it is probable that taxable profit will be available against which the deductible temporary differences and the carry forward of unused tax credits and unused tax losses can be utilized except: ● where the deferred income tax asset relating to the deductible temporary difference arises from the initial recognition of an asset or liability in a transaction that is not a business combination and, at the time of the transaction, affects neither the accounting profit nor taxable profit or loss; and ● in respect of deductible temporary differences associated with investments in subsidiaries, deferred income tax assets are recognized only to the extent that it is probable that the temporary differences will reverse in the foreseeable future and taxable profit will be available against which the temporary differences can be utilized. The carrying amount of deferred income tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profit will be available to allow all or part of the deferred income tax asset to be utilized. Unrecognized deferred income tax assets are reassessed at the end of each reporting period and are recognized to the extent that it has become probable that future taxable profit will allow the deferred tax asset to be recovered. Deferred income tax assets and liabilities are measured at the tax rates that are expected to apply to the year when the asset is realized or the liability is settled, based on tax rates (and tax laws) that have been enacted or substantively enacted at the end of each reporting period. Deferred income tax relating to items recognized directly in equity is recognized in equity and not in the consolidated statements of comprehensive loss. Deferred income tax assets and deferred income tax liabilities are offset if, and only if, a legally enforceable right exists to set off current tax assets against current tax liabilities and the deferred tax assets and liabilities relate to income taxes levied by the same taxation authority on either the same taxable entity or different taxable entities which intend to either settle current tax liabilities and assets on a net basis, or to realize the assets and settle the liabilities simultaneously, in each future period in which significant amounts of deferred tax assets or liabilities are expected to be settled or recovered.
Cash	Cash Cash comprises of cash on deposit with banks and highly liquid short-term interest-bearing investments with a term to maturity at the date of purchase of 90 days or less which are subject to an insignificant risk of change in value.
Restricted Cash	Restricted cash Restricted cash includes cash that has been pledged for credit facilities which are not available for immediate disbursement.
Financial Instruments	Financial Instruments Financial instruments are recognized in the consolidated statements of financial position on the trade date, being the date in which the Company becomes a party to the contractual provisions of the financial instrument. The Company's financial instruments consist of cash, restricted cash, short-term investments, accounts payable and accrued liabilities, government loan payable and margin loan payable. All financial instruments are initially recorded at fair value and designated as follows: 3. Significant Accounting Policies (continued) Financial Instruments (continued) Cash and restricted cash are classified as financial assets at amortized cost. Accounts payable and accrued liabilities government loan payable and margin loan payable are classified as financial liabilities at amortized cost. Both financial assets at amortized cost and financial liabilities at amortized cost are subsequently measured using the effective interest rate method. Investments in ordinary and common shares are held for strategic purposes and not for trading. The Company classified these investments as fair value through other comprehensive income ("FVTOCI"). Such investments are measured at fair value at the end of each reporting period, with any gains or losses arising on re-measurement recognized as a component of other comprehensive income. Cumulative gains and losses are not subsequently reclassified to profit or loss. Transaction costs on initial recognition of financial instruments classified as FVTOCI are recognized in other comprehensive income as part of a change in fair value at the next remeasurement. Financial assets are derecognized when the contractual rights to the cash flows from the asset expire. Financial liabilities are derecognized only when the Company's obligations are discharged, canceled or otherwise expire. On derecognition, the difference between the carrying amount (measured at the date or derecognition) and the consideration received (including any new asset obtained less any new liability obtained) is recognized in profit or loss.
Leases	Leases At the inception of a contract, the Company assesses whether a contract is, or contains, a lease based on whether the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration. The Company has elected not to recognize right of use assets and lease liabilities for short-term leases that have a lease term of 12 months or less and leases of low-value assets. The lease payments associated with short-term leases are recognized as expenses on a straight-line basis over the lease term. The Company recognizes a lease liability and a right-of-use asset at the lease commencement date. Leases are recognized as a right-of-use asset and a corresponding liability as at the date at which the leased asset is available for use by the Company. Each lease payment is allocated between the liability and finance cost. The finance cost is charged to consolidated statements of loss and other comprehensive income over the lease term so as to produce a constant periodic rate of interest on the remaining balance of the liability for each period. The right-of-use asset is depreciated over the shorter of the asset's useful life and the lease term on a straight-line basis. Assets and liabilities arising from a lease are initially measured on a present value basis. The lease payments are discounted using the interest rate implicit in the lease. If that rate cannot be readily determined, the Company's incremental borrowing rate is used, being the rate that the Company would have to pay to borrow the funds necessary to obtain an asset of similar value in a similar economic environment with similar terms and conditions.
Revenue Recognition	Revenue Recognition The Company generates revenue from the sale of uranium inventory from contracts with customers. The Company recognizes revenue when it transfers control of the uranium inventory to the customer, which occurs when title transfer of the uranium inventory is confirmed by the conversion facility. Sales contracts with customers are pursuant to enforeceable contracts that indicate the nature and timing of satisfaction of performance obligations, including specifying the quantity of inventory sold, the price, the payment terms, the date of delivery and the location of the conversion facility to be delivered. Revenue is measured at the fair value of the consideration received or receivable.
Inventories	Inventories Inventories are measured at the lower of cost and net realizable value. Under certain royalty agreements, the Company has an option to elect to receive royalty proceeds through delivery of physical uranium. When the quantity of physical uranium that the Company is reasonably expecting to receive under the royalty agreement is determinable, it is recorded as inventory. The amount recognized for inventory includes both the cash payment, if applicable, and the related depletion associated with the related royalty. Cost of purchased inventory is determined by the weighted average cost method. Net realizable value is the estimated selling price in the ordinary course of business less the estimated costs necessary to make the sale.
Related Party Transactions	Related party transactions Parties are considered to be related if one party has the ability, directly or indirectly, to control the other party or exercise significant influence over the other party in making financial and operating decisions. Parties are also considered to be related if they are subject to common control. Related parties may be individuals or corporate entities. A transaction is considered to be a related party transaction when there is a transfer of resources or obligations between related parties.
Net Loss Per Share	Net loss per share Basic net loss per share includes no potential dilution and is computed by dividing the net loss attributable to common stockholders by the weighted average number of common shares outstanding for the period. The basic and diluted net loss per share are the same as there are no instruments that have a dilutive effect on earnings.
Share-based payments	Share-based payments The Company uses the Black-Scholes option-pricing model to determine the grant date fair value of share options. The fair value of share options granted to employees is recognized as an expense over the vesting period with a corresponding increase in equity. An individual is classified as an employee when the individual is an employee for legal or tax purposes, provides services that could be provided by a direct employee, or has authority and responsibility for planning, directing and controlling the activities of the Company, including non-executive directors. The fair value is measured at the grant date and recognized over the period during which the options vest. Consideration received on the exercise of share options is recorded as issued capital and the related share-based compensation reserve is transferred to issued capital.
Significant Accounting Judgments and Estimates	Significant accounting judgments and estimates The preparation of these consolidated financial statements requires management to make accounting policy judgments and estimates and form assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and reported amounts of income and expenses during the reporting period. On an ongoing basis, management evaluates its accounting policy judgments and estimates in relation to assets, liabilities, income and expenses. Management uses historical experience and various other factors it believes to be reasonable under the given circumstances as the basis for its judgments and estimates. Actual outcomes may differ from these estimates under different assumptions and conditions. Management is required to make judgements in the application of the Company's accounting policies. The significant accounting policy judgements relevant to the current period are as follows: • The Company's business is the acquisition of royalties. Each royalty has its own unique terms and judgement is required to assess the appropriate accounting treatment. The assessment of whether an acquisition meets the definition of a business or whether assets are acquired is an area of judgement. In evaluating whether a transaction is a business combination management must consider if the acquired assets or entities encompass an integrated set of activities and assets that is capable of being conducted and managed for the purpose of generating income. Additionally, an optional asset concentration test may be applied. If deemed to be a business combination, applying the acquisition method to business combinations requires each identifiable asset and liability to be measured at its acquisition date fair value. The excess, if any, of the fair value of the consideration over the fair value of the net identifiable assets acquired is recognized as goodwill. • The assessment of impairment of royalty and other interests requires the use of judgments, assumptions and estimates when assessing whether there are any indicators that could give rise to the requirement to conduct a formal impairment test as well as in the assessment of fair values. When assessing whether there are indicators of impairment, management uses its judgment in evaluating the indicators, including but not limited to whether further exploration or evaluation expenditure in the area is planned or budgeted, whether commercially viable deposits have been discovered or if sufficient work has been performed to indicate that the carrying amount of the asset will not be fully recovered, whether there are observable indications that the asset's value has declined during the period, significant declines in future commodity prices, significant increases in market interest rates, significant adverse changes in foreign exchange rates and taxes, and operator reserve and resource estimates or other relevant information received from the operators that indicates production from royalty interests will not likely occur or may be significantly reduced in the future. In addition, the Company may use other approaches in determining fair value which may include estimates related to (i) dollar value per unit of mineral reserve/resource; (ii) cash-flow multiples; (iii) comparable transactions and (iv) market capitalization of comparable companies. Changes in any of the estimates used in determining the fair value of the royalty and other interests could impact the impairment analysis. 3. Significant Accounting Policies (continued) Significant accounting judgments and estimates (continued) Information about significant sources of estimation uncertainty are described below. • The Company estimates the attributable reserve and resource relating to the mineral properties underlying the royalties that are held by the Company. Reserves and resources are estimates of the amount of minerals that can be economically and legally extracted from the mining properties at which the Company has royalty interests, adjusted where applicable to reflect the Company's percentage entitlement to minerals produced from such mines. The public disclosures of reserves and resources that are released by the operators of the interests involve assessments of geological and geophysical studies and economic data and the reliance on a number of assumptions, including commodity prices and production costs. The estimates of reserves and resources may change based on additional knowledge gained subsequent to the initial assessment. Changes in the reserve or resource estimates may impact the carrying value of the Company's royalty interests.

Short-term Investments (Tables)

Short-term Investments (Tables)	12 Months Ended
	Apr. 30, 2023
Current financial assets at fair value through other comprehensive income [abstract]
Schedule of Short-term Investments	As at April 30, 2023 As at April 30, 2022 ($) ($) Fair value, at the beginning of the year 51,787 30,045 Additions for the year 2,996 9,670 Disposals for the year ( 16,551 ) ( 4,170 ) Fair value adjustment due to foreign exchange rate change for the year 1,742 ( 1,451 ) Fair value adjustment due to share price change for the year ( 1,634 ) 17,693 Fair value, at the end of the year 38,340 51,787

Royalties and Royalty Options (

Royalties and Royalty Options (Tables)	12 Months Ended
	Apr. 30, 2023
Royalties And Royalty Options
Schedule of Royalties and Royalty Options	Royalties Royalty Options Total ($) ($) ($) Balance, as at April 30, 2021 25,452 125 25,577 Additions 17,814 143 17,957 Foreign currency translation 614 - 614 Write-off - ( 125 ) ( 125 ) Balance, as at April 30, 2022 43,880 143 44,023 Additions 2,313 ( 143 ) 2,170 Depletion ( 147 ) - ( 147 ) Foreign currency translation 818 - 818 Balance, as at April 30, 2023 46,864 - 46,864
Schedule of Royalties	Cost Accumulated Depletion Carrying Amount April 30, 2022 Additions Foreign Currency Translation April 30, 2023 April 30, 2022 Depletion April 30, 2023 April 30, 2023 ($) ($) ($) ($) ($) ($) ($) ($) Anderson project 7,348 - 403 7,751 - - - 7,751 Church Rock project 751 - 41 792 - - - 792 Cigar Lake project 4,704 - - 4,704 - - - 4,704 Dawn Lake project 143 139 - 282 - - - 282 Dewey-Burdock project 76 1,355 14 1,445 - - - 1,445 Energy Queen project - 67 1 68 - - - 68 Lance project 1,688 - 93 1,781 - - - 1,781 Langer Heinrich project 2,822 - - 2,822 - - - 2,822 McArthur River project 11,543 - - 11,543 - ( 147 ) ( 147 ) 11,396 Michelin project 4,262 - - 4,262 - - - 4,262 Reno Creek project 289 - 16 305 - - - 305 Roca Honda project 159 - 8 167 - - - 167 Roughrider project 5,923 - - 5,923 - - - 5,923 San Rafael project - 542 4 546 - - - 546 Slick Rock project 2,916 - 160 3,076 - - - 3,076 Whirlwind project - 67 1 68 - - - 68 Workman Creek project 1,399 - 77 1,476 - - - 1,476 44,023 2,170 818 47,011 - ( 147 ) ( 147 ) 46,864

Margin Loan Payable (Tables)

Margin Loan Payable (Tables)	12 Months Ended
	Apr. 30, 2023
Margin Loan Payable [Abstract]
Schedule of Movement of the Margin Loan	The following outlines the movement of the margin loan during the year ended at April 30, 2023: US$'000 $ Draw-down 10,175 12,710 Less: transaction costs and fees ( 239 ) ( 295 ) Interest expense 573 721 Interest paid ( 462 ) ( 582 ) Unrealized foreign exchange loss — 354 Balance, as at April 30, 2022 10,047 12,908 Draw-down 8,000 10,696 Less: principal payment ( 11,121 ) ( 14,864 ) Interest expense 1,270 1,628 Interest paid ( 1,019 ) ( 1,348 ) Unrealized foreign exchange loss — 706 Balance, as at April 30, 2023 7,177 9,726

Issued Capital (Tables)

Issued Capital (Tables)	12 Months Ended
	Apr. 30, 2023
Disclosure of classes of share capital [abstract]
Schedule of Warrants and Options	The following outlines the movements of the Company's warrants and options: Warrants Share Options Total ($) ($) ($) Balance, as at April 30, 2021 6,352 — 6,352 Common shares issued upon exercise of warrants ( 1,922 ) — ( 1,922 ) Common shares issued upon exercise of options — ( 210 ) ( 210 ) Share-based compensation — 1,268 1,268 Balance, as at April 30, 2022 4,430 1,058 5,488 Common shares issued upon exercise of warrants ( 48 ) — ( 48 ) Common shares issued upon exercise of options — ( 48 ) ( 48 ) Share-based compensation — 927 927 Balance, as at April 30, 2023 4,382 1,937 6,319
Schedule of Share Options	The following outlines movements of the Company's share options: Number of Weighted Average Balance at April 30, 2022 755,000 3.62 Granted 500,750 3.29 Forfeited ( 22,250 ) 3.43 Exercised ( 37,500 ) 3.49 Balance at April 30, 2023 1,196,000 3.50
Schedule of Black Scholes Options Pricing Model	The weighted average fair value of the share options granted was $ 1.72 per share and it was estimated at the date of the grants using the Black-Scholes option pricing model with the following weighted average assumptions: Risk-free interest rate 2.75 % Expected life (years) 3.60 Expected volatility 70.42 % Expected dividend yield 0.00 % Estimated forfeiture rate 4.63 %
Schedule of Share Options Outstanding and Exercisable	A summary of share options outstanding and exercisable at April 30, 2023, are as follows: Options Outstanding Options Exercisable Exercise Price Number of Options Weighted Average Exercise Price Weighted Average Remaining Contractual Life Number of Options Exercisable Weighted Average Exercise Price Weighted Average Remaining Contractual Life 5.46 40,000 5.46 3.38 40,000 5.46 3.38 4.93 5,000 4.93 3.71 3,750 4.93 3.71 4.20 1,000 4.20 4.36 1,000 4.20 4.36 4.10 50,000 4.10 3.09 50,000 4.10 3.09 3.49 612,500 3.49 3.09 612,500 3.49 3.09 3.31 100,000 3.31 1.04 75,000 3.31 1.04 3.31 332,500 3.31 4.04 166,875 3.31 4.04 3.26 25,000 3.26 4.14 12,500 3.26 4.14 3.15 5,000 3.15 4.49 2,500 3.15 4.49 2.88 25,000 2.88 4.19 12,500 2.88 4.19 1,196,000 $ 3.50 3.25 976,625 $ 3.55 3.14

Income Tax (Tables)

Income Tax (Tables)	12 Months Ended
	Apr. 30, 2023
Major components of tax expense (income) [abstract]
Schedule of Provision for Income Taxes	The Company had no assessable profit for the years ended April 30, 2023 and 2022. A reconciliation of the provision for income taxes computed at the combined Canadian federal and provincial statutory rate to the provision for income taxes as shown in the consolidated statements of loss for the years ended April 30, 2023 and 2022 is as follows: For the year ended 2023 2022 Net loss before tax for the year 5,858 6,449 Statutory rate 27.00 % 27.00 % Recovery of income taxes at statutory rates 1,582 1,741 Non-deductible permanent differences and other ( 159 ) ( 400 ) Change in unrecognized deferred income tax assets ( 1,408 ) 851 Tax recovery for the year 15 2,192
Schedule of Deferred Tax Assets and Liabilities	The significant component of the Company's deferred tax assets and liabilities recognized are as follows: As at April 30, 2023 As at April 30, 2022 Deferred tax liabilities: Excess of accounting value of short-term investments over tax value ( 2,136 ) ( 3,062 ) Other deferred tax liabilities ( 65 ) — Deferred tax assets: Non-capital losses carry-forward 2,201 3,062 — —
Disclosure of temporary difference, unused tax losses and unused tax credits [text block]	The temporary differences for which deferred income tax assets are not recognized are as follows: As at April 30, 2023 As at April 30, 2022 Non-capital loss carry-forward 10,478 3,995 Financing costs 2,136 2,927 Other deferred tax assets 455 — Unrecognized deferred income tax assets 13,069 6,922

Related Party Transactions (Tab

Related Party Transactions (Tables)	12 Months Ended
	Apr. 30, 2023
Disclosure of transactions between related parties [abstract]
Schedule of Related Party Transactions	Key management personnel are persons responsible for planning, directing and controlling the activities of an entity. The remuneration of directors and key management, for the years ended April 30, 2023 and 2022, comprised of: For the year ended April 30, 2023 2022 ($) ($) Management salaries 378 290 Directors' fees 200 182 Share-based compensation 540 540 Total 1,118 1,012

Corporate Information (Details

Corporate Information (Details Narrative)	12 Months Ended
	Apr. 30, 2023 shares $ / shares
Corporate Information
Number of stock exercisable | shares	1
Exercise price of warrant | $ / shares	$ 2

Cash and Restricted Cash (Detai

Cash and Restricted Cash (Details Narrative) - CAD ($) $ in Thousands	Apr. 30, 2023	Apr. 30, 2022
Statement Line Items [Line Items]
Cash	$ 14,306	$ 4,385
Restricted cash and cash equivalents	110	697
Corporate Credit Card [Member]
Statement Line Items [Line Items]
Restricted cash and cash equivalents	110	$ 697
Foreign Exchange Facility [Member]
Statement Line Items [Line Items]
Restricted cash and cash equivalents	$ 642

Short-term Investments (Details

Short-term Investments (Details Narrative) $ in Thousands	12 Months Ended
	Apr. 30, 2023 CAD ($)	Apr. 30, 2023 USD ($)	Apr. 30, 2022 CAD ($)	Apr. 30, 2022 USD ($)
Statement Line Items [Line Items]
Fair value gain loss recognized on short term investments	$ 108,000		$ 16,242,000
Deferred tax liabilities	15,000		2,192,000
Yellow Cake [Member]
Statement Line Items [Line Items]
Fair value of investment	32,091,000		44,912,000
Queens Road Capital Investment Ltd [Member]
Statement Line Items [Line Items]
Fair value of investment	6,249,000		6,875,000
Yellow Cake and all of its shares in Sprott Physical Uranium Trust [Member]
Statement Line Items [Line Items]
Gain realized on sale of common stock	7,082,000		0
Proceeds from short term investments	16,551,000
Accumulated deficit, net of tax	$ 951,000		$ 0
United States of America, Dollars | Yellow Cake [Member]
Statement Line Items [Line Items]
Option to acquire inventory		$ 2,500		$ 10,000
Maximum aggregate amount of options to aquire inventory		$ 21,250

Short-term Investments - Schedu

Short-term Investments - Schedule of Short-term Investments (Details) - Yellow Cake And Queen Road Capital [Member] - CAD ($) $ in Thousands	12 Months Ended
	Apr. 30, 2023	Apr. 30, 2022
Statement Line Items [Line Items]
Fair value, at the beginning of the year	$ 51,787	$ 30,045
Additions	2,996	9,670
Disposals	(16,551)	(4,170)
Fair value adjustment due to foreign exchange rate change	1,742	(1,451)
Fair value adjustment due to share price change	(1,634)	17,693
Fair value, at the end of the year	$ 38,340	$ 51,787

Inventories (Details Narrative)

Inventories (Details Narrative) $ in Thousands	12 Months Ended
	Apr. 30, 2023 CAD ($) lb	Apr. 30, 2022 CAD ($) lb
Statement Line Items [Line Items]
Number Of Pounds Of Inventories Hold | lb	1,548,068	1,448,068
Current inventories | $	$ 85,561	$ 75,030

Royalties and Royalty Options_2

Royalties and Royalty Options (Details Narrative) - 12 months ended Apr. 30, 2023 $ / shares in Units, $ in Thousands, lb in Millions	CAD ($) lb	USD ($)	$ / shares
Statement Line Items [Line Items]
Royalty percentage	1%
Smelter Return Royalty Percentage Holds On Projects	2%
Consideration paid (received)	$ 2,031
Royalties And Royalty Options, Depletion	$ 147
Aggregate production capacity of inventory | lb	200
McArthur River Project [Member]
Statement Line Items [Line Items]
Percentage of gross overriding royalty acquired	1%
Percentage Share Of Uranium Production On Which Gross Overriding Royalty Was Acquired	9%
Royalties And Royalty Options, Depletion	$ 147
Dawn Lake Project [Member]
Statement Line Items [Line Items]
Consideration paid (received)	$ 139
Waterbury Lake Dawn Lake And Cigar Lake [Member]
Statement Line Items [Line Items]
Net Profit Interest Royalty Adjusted Percentage Share	10%
Anderson, Slick Rock and Workman Creek Projects [Member]
Statement Line Items [Line Items]
Smelter Return Royalty Percentage Holds On Projects	(1.00%)
Bottom of range [member]
Statement Line Items [Line Items]
Percentage of gross overriding royalty acquired	2%
Bottom of range [member] | Dawn Lake Project [Member]
Statement Line Items [Line Items]
Net profit interest royalty percentage share	10%
Top of range [member]
Statement Line Items [Line Items]
Percentage of gross overriding royalty acquired	4%
Top of range [member] | Dawn Lake Project [Member]
Statement Line Items [Line Items]
Net profit interest royalty percentage share	20%
Australian Dollar [Member] | Langer Heinrich Projects [Member]
Statement Line Items [Line Items]
Production Royalty Per Kilogram Holds On Project | $ / shares			$ 0.12
Church Rock Project [Member]
Statement Line Items [Line Items]
Smelter Return Royalty Percentage Holds On Projects	4%
Dewey-Burdock Project [Member]
Statement Line Items [Line Items]
Royalty percentage	30%
Dewey-Burdock Project [Member] | Bottom of range [member]
Statement Line Items [Line Items]
Percentage of gross overriding royalty acquired	2%
Percentage Of Gross Revenues Royalty Holds On Portion Of Property	2%
Dewey-Burdock Project [Member] | Top of range [member]
Statement Line Items [Line Items]
Percentage of gross overriding royalty acquired	4%
Percentage Of Gross Revenues Royalty Holds On Portion Of Property	4%
Lance Project [Member]
Statement Line Items [Line Items]
Royalty percentage	4%
Roca Honda Project [Member]
Statement Line Items [Line Items]
Royalty percentage	4%
Right of payor to purchase royalty		$ 5,000,000
Reno Creek Project [Member]
Statement Line Items [Line Items]
Profit interest royalty percentage	0.50%
Maximum amount payable under royalty		$ 2,500,000
Roughrider Project [Member]
Statement Line Items [Line Items]
Smelter Return Royalty Percentage Holds On Projects	1.97%
Michelin Project [Member]
Statement Line Items [Line Items]
Royalty percentage	2%
Energy Queen Project [Member]
Statement Line Items [Line Items]
Percentage of gross overriding royalty acquired	1%
Gross value royalty percentage holds on projects	1%
San Rafael Project [Member]
Statement Line Items [Line Items]
Smelter Return Royalty Percentage Holds On Projects	2%
Whirlwind Project [Member] | Bottom of range [member]
Statement Line Items [Line Items]
Sliding scale gross value royalty percentage holds on projects	2%
Whirlwind Project [Member] | Top of range [member]
Statement Line Items [Line Items]
Sliding scale gross value royalty percentage holds on projects	4%
Royalty Purchase Agreement [Member]
Statement Line Items [Line Items]
Royalty percentage	7.50%
Royalty Purchase Agreement [Member] | McArthur River Project [Member]
Statement Line Items [Line Items]
Percentage Of Ownership Interest Base		30.195%
Royalty Purchase Agreement [Member] | Waterbury Lake And Cigar Project [Member]
Statement Line Items [Line Items]
Percentage Of Ownership Interest Base		40.453%
Percentage Share Of Uranium Production On Which Net Royalty Percentage Share Is Determined	3.75%
Royalty Purchase Agreement [Member] | Dawn Lake Project [Member]
Statement Line Items [Line Items]
Percentage Share Of Uranium Production On Which Net Royalty Percentage Share Is Determined	7.50%
Royalty Purchase Agreement [Member] | Bottom of range [member] | Waterbury Lake And Cigar Project [Member]
Statement Line Items [Line Items]
Net profit interest royalty percentage share	10%
Royalty Purchase Agreement [Member] | Bottom of range [member] | Dawn Lake Project [Member]
Statement Line Items [Line Items]
Net profit interest royalty percentage share	10%
Royalty Purchase Agreement [Member] | Top of range [member] | Waterbury Lake And Cigar Project [Member]
Statement Line Items [Line Items]
Net profit interest royalty percentage share	20%
Royalty Purchase Agreement [Member] | Top of range [member] | Dawn Lake Project [Member]
Statement Line Items [Line Items]
Net profit interest royalty percentage share	20%

Royalties and Royalty Options -

Royalties and Royalty Options - Schedule of Royalties and Royalty Options (Details) - CAD ($) $ in Thousands	12 Months Ended
	Apr. 30, 2023	Apr. 30, 2022
Statement Line Items [Line Items]
Royalties, Beginning Balance	$ 43,880	$ 25,452
Royalties, Additions	2,313	17,814
Royalties, Foriegn currency translation	818	614
Royalties, Depletion	(147)
Royalties, Ending Balance	46,864	43,880
Royalties and Royalty Options, Beginning balance	44,023	25,577
Royalties and Royalty Options, Additions	2,170	17,957
Royalties And Royalty Options, Depletion	(147)
Royalties and Royalty Options, Foreign currency translation	818	614
Royalties And Royalty Options Write off		(125)
Royalties and Royalty Options, Ending balance	46,864	44,023
Royalty Options [Member]
Statement Line Items [Line Items]
Royalties and Royalty Options, Beginning balance	143	125
Royalties and Royalty Options, Additions	$ (143)	143
Royalties And Royalty Options Write off		(125)
Royalties and Royalty Options, Ending balance		$ 143

Royalties and Royalty Options_3

Royalties and Royalty Options - Schedule of Royalties (Details) - CAD ($) $ in Thousands	12 Months Ended
	Apr. 30, 2023	Apr. 30, 2022
Statement Line Items [Line Items]
Royalties and Royalty Options, Beginning balance	$ 44,023	$ 25,577
Royalties and Royalty Options, Additions	2,170	17,957
Royalties and Royalty Options, Foreign currency translation	818	614
Royalties And Royalty Options, Before Depletion	47,011
Royalties And Royalty Options, Depletion	(147)
Royalties and Royalty Options, Ending balance	46,864	44,023
Michelin Project [Member]
Statement Line Items [Line Items]
Royalties and Royalty Options, Beginning balance	4,262
Royalties And Royalty Options, Before Depletion	4,262
Royalties and Royalty Options, Ending balance	4,262	4,262
Anderson Project [Member]
Statement Line Items [Line Items]
Royalties and Royalty Options, Beginning balance	7,348
Royalties and Royalty Options, Foreign currency translation	403
Royalties And Royalty Options, Before Depletion	7,751
Royalties and Royalty Options, Ending balance	7,751	7,348
Slick Rock Project [Member]
Statement Line Items [Line Items]
Royalties and Royalty Options, Beginning balance	2,916
Royalties and Royalty Options, Foreign currency translation	160
Royalties And Royalty Options, Before Depletion	3,076
Royalties and Royalty Options, Ending balance	3,076	2,916
Workman Creek Project [Member]
Statement Line Items [Line Items]
Royalties and Royalty Options, Beginning balance	1,399
Royalties and Royalty Options, Foreign currency translation	77
Royalties And Royalty Options, Before Depletion	1,476
Royalties and Royalty Options, Ending balance	1,476	1,399
Church Rock Project [Member]
Statement Line Items [Line Items]
Royalties and Royalty Options, Beginning balance	751
Royalties and Royalty Options, Foreign currency translation	41
Royalties And Royalty Options, Before Depletion	792
Royalties and Royalty Options, Ending balance	792	751
Dewey-Burdock Project [Member]
Statement Line Items [Line Items]
Royalties and Royalty Options, Beginning balance	76
Royalties and Royalty Options, Additions	1,355
Royalties and Royalty Options, Foreign currency translation	14
Royalties And Royalty Options, Before Depletion	1,445
Royalties and Royalty Options, Ending balance	1,445	76
Energy Queen Project [Member]
Statement Line Items [Line Items]
Royalties and Royalty Options, Additions	67
Royalties and Royalty Options, Foreign currency translation	1
Royalties And Royalty Options, Before Depletion	68
Royalties and Royalty Options, Ending balance	68
Lance Project [Member]
Statement Line Items [Line Items]
Royalties and Royalty Options, Beginning balance	1,688
Royalties and Royalty Options, Foreign currency translation	93
Royalties And Royalty Options, Before Depletion	1,781
Royalties and Royalty Options, Ending balance	1,781	1,688
Roca Honda Project [Member]
Statement Line Items [Line Items]
Royalties and Royalty Options, Beginning balance	159
Royalties and Royalty Options, Foreign currency translation	8
Royalties And Royalty Options, Before Depletion	167
Royalties and Royalty Options, Ending balance	167	159
Reno Creek Project [Member]
Statement Line Items [Line Items]
Royalties and Royalty Options, Beginning balance	289
Royalties and Royalty Options, Foreign currency translation	16
Royalties And Royalty Options, Before Depletion	305
Royalties and Royalty Options, Ending balance	305	289
Roughrider Project [Member]
Statement Line Items [Line Items]
Royalties and Royalty Options, Beginning balance	5,923
Royalties And Royalty Options, Before Depletion	5,923
Royalties and Royalty Options, Ending balance	5,923	5,923
Whirlwind Project [Member]
Statement Line Items [Line Items]
Royalties and Royalty Options, Additions	67
Royalties and Royalty Options, Foreign currency translation	1
Royalties And Royalty Options, Before Depletion	68
Royalties and Royalty Options, Ending balance	68
San Rafael Project [Member]
Statement Line Items [Line Items]
Royalties and Royalty Options, Additions	542
Royalties and Royalty Options, Foreign currency translation	4
Royalties And Royalty Options, Before Depletion	546
Royalties and Royalty Options, Ending balance	546
Langer Heinrich Project [Member]
Statement Line Items [Line Items]
Royalties and Royalty Options, Beginning balance	2,822
Royalties And Royalty Options, Before Depletion	2,822
Royalties and Royalty Options, Ending balance	2,822	2,822
Cigar Lake Project [Member]
Statement Line Items [Line Items]
Royalties and Royalty Options, Beginning balance	4,704
Royalties And Royalty Options, Before Depletion	4,704
Royalties and Royalty Options, Ending balance	4,704	4,704
McArthur River Project [Member]
Statement Line Items [Line Items]
Royalties and Royalty Options, Beginning balance	11,543
Royalties And Royalty Options, Before Depletion	11,543
Royalties And Royalty Options, Depletion	(147)
Royalties and Royalty Options, Ending balance	11,396	11,543
Dawn Lake Project [Member]
Statement Line Items [Line Items]
Royalties and Royalty Options, Beginning balance	143
Royalties and Royalty Options, Additions	139
Royalties And Royalty Options, Before Depletion	282
Royalties and Royalty Options, Ending balance	$ 282	$ 143

Government Loan Payable (Detail

Government Loan Payable (Details Narrative) $ in Thousands	12 Months Ended
	Apr. 30, 2023 CAD ($)
Disclosure Of Government Grants Explanatory [Line Items]
Government grant explanatory	$ 40
Canadian Emergency Business Account Program [Member]
Disclosure Of Government Grants Explanatory [Line Items]
Description of nature and extent of government grants recognised in financial statements	If at least 75% of the CEBA Loan is repaid prior to December 31, 2023, the remaining balance of the CEBA Loan will be forgiven.

Margin Loan Payable - Additiona

Margin Loan Payable - Additional Information (Detail) - Margin Loan Facility [Member] $ in Thousands, $ in Thousands			12 Months Ended
	Jan. 17, 2023 CAD ($)	Jan. 17, 2023 USD ($)	Apr. 30, 2023 CAD ($)	Apr. 30, 2023 USD ($)
Disclosure of detailed information about borrowings [line items]
Proceeds from loan	$ 18,552	$ 15,000
Standby fee	2.50%	2.50%
Facility fee	1.25%	1.25%
Borrowings maturity	May 5, 2023	May 5, 2023
Partial principal amount repaid on loan			$ 14,864	$ 11,121
LIBOR [Member]
Disclosure of detailed information about borrowings [line items]
Borrowings adjustment to interest rate percentage	5.50%	5.50%

Margin Loan Payable - Schedule

Margin Loan Payable - Schedule of Movement of the Margin Loan (Detail) $ in Thousands, $ in Thousands	12 Months Ended
	Apr. 30, 2023 CAD ($)	Apr. 30, 2023 USD ($)	Apr. 30, 2022 CAD ($)	Apr. 30, 2022 USD ($)
Disclosure of reconciliation of liabilities arising from financing activities [line items]
Draw-down	$ 9,726	$ 7,177	$ 12,908	$ 10,047
Margin Loan Facility [Member]
Disclosure of reconciliation of liabilities arising from financing activities [line items]
Draw-down	10,696	8,000	12,710	10,175
Less: transaction costs and fees			(295)	(239)
Less: principal payment	(14,864)	(11,121)
Interest expense	1,628	1,270	721	573
Interest paid	(1,348)	$ (1,019)	(582)	$ (462)
Unrealized foreign exchange loss	$ 706		$ 354

Issued Capital (Details Narrati

Issued Capital (Details Narrative) $ / shares in Units, $ / shares in Units, $ in Millions							2 Months Ended	12 Months Ended
	Oct. 24, 2022 shares $ / shares	Sep. 09, 2022 shares $ / shares	Jul. 07, 2022 shares $ / shares	Jun. 20, 2022 shares $ / shares	May 13, 2022 shares $ / shares	Aug. 18, 2021 USD ($)	Jul. 13, 2023 CAD ($) shares	Apr. 30, 2023 CAD ($) shares $ / shares	Apr. 30, 2022 CAD ($) shares	Apr. 30, 2023 $ / shares shares	Sep. 01, 2022 USD ($)
Statement Line Items [Line Items]
Common shares issued								4,029,021	6,175,771	4,029,021
Listed warrants							565,722	17,298,360		17,298,360
Proceeds From Exercise Of Listed Warrants | $							$ 1,131,000
Unlisted common share purchase warrants								95,588		95,588
Warrants exercise price | $ / shares										$ 1.40
Warrants expiry date								Dec. 06, 2024
Number Of Share Options Granted In Share based Payment Arrangement								500,750
Proceeds from issue of ordinary shares | $								$ 14,589,000	$ 35,231,000
Payments for share issue costs | $								$ 365,000	881,000
Number Of Class Of Warrants Exercised								190,894
Number Of Class Of Warrants Outstanding								17,393,948
Share based compensation expenses | $								$ 927,000	$ 1,268,000
Listed warrants exercise price | $ / shares								$ 2
Share Option [Member]
Statement Line Items [Line Items]
Number Of Share Options Granted In Share based Payment Arrangement	5,000	2,000	25,000	25,000	343,750
Exercise Price Of Outstanding Share Options 2019 | $ / shares	$ 3.15	$ 4.20	$ 2.88	$ 3.26	$ 3.31
Weighted average fair value of the share options granted | $ / shares								$ 1.72
ShareBasedPaymentArrangementVestingAwardPercentage	25%	25%	25%	25%	25%
Long Term Incentive Plan [Member]
Statement Line Items [Line Items]
Common shares issued								10,775,285		10,775,285
Options issued and outstanding, description								the total number of common shares issuable to any participant under the LTIP, at any time, together with common shares reserved for issuance to such participant under any other security-based compensation arrangements of the Company, shall not exceed 5% of the issued and outstanding common shares; (b) the total number of common shares issuable to insiders within any one-year period and at any given time under the LTIP, together with any other security-based compensation arrangement of the Company, shall not exceed 10% of the issued and outstanding common shares; and (c) the total number of common shares issuable to non-executive directors (excluding the Chair of the Board, if any) under the LTIP shall not exceed 3% of the issued and outstanding common shares.
Grant value of common shares | $								$ 100,000
Number Of Share Options Granted In Share based Payment Arrangement								1,424,700
Number Of Common Shares Remain Available For Future Issuance								9,389,285		9,389,285
Contractor [Member] | Share Option [Member]
Statement Line Items [Line Items]
Number Of Share Options Granted In Share based Payment Arrangement					100,000
Exercise Price Of Outstanding Share Options 2019 | $ / shares					$ 3.31
2021 Distribution Agreement [Member]
Statement Line Items [Line Items]
Proceeds From Sale Of Shares | $						$ 40
Agreement termination date						Sep. 01, 2022
2022 Distribution Agreement [Member]
Statement Line Items [Line Items]
Proceeds From Sale Of Shares | $											$ 40

Issued Capital - Schedule of Wa

Issued Capital - Schedule of Warrants and Options (Details) - CAD ($) $ in Thousands	12 Months Ended
	Apr. 30, 2023	Apr. 30, 2022
Number of Warrants, Outstanding, Beginning balance	$ 164,636
Share-based compensation	927	$ 1,268
Number of Warrants, Outstanding, Ending balance	175,369	164,636
Warrant Reserves [Member]
Number of Warrants, Outstanding, Beginning balance	4,430	6,352
Number of Warrants, Common shares issued upon exercise of warrants	(48)	(1,922)
Share-based compensation		1,268
Number of Warrants, Outstanding, Ending balance	4,382	4,430
Reserve for Share Options
Number of Warrants, Outstanding, Beginning balance	1,058
Common shares issued upon exercise of options	(48)	(210)
Share-based compensation	927	1,268
Number of Warrants, Outstanding, Ending balance	1,937	1,058
Reserves
Number of Warrants, Outstanding, Beginning balance	5,488	6,352
Number of Warrants, Common shares issued upon exercise of warrants	(48)	(1,922)
Common shares issued upon exercise of options	(48)	(210)
Share-based compensation	927	1,268
Number of Warrants, Outstanding, Ending balance	$ 6,319	$ 5,488

Issued Capital - Schedule of Sh

Issued Capital - Schedule of Share Options (Details)	12 Months Ended
	Apr. 30, 2023 shares $ / shares
Issued capital [abstract]
Number of options, Opening | shares	755,000
Number of share options granted in share-based payment arrangement | shares	500,750
Number of options, Forfeited | shares	(22,250)
Number of options, Exercised | shares	(37,500)
Number of options, Closing | shares	1,196,000
Weighted average exercise price, Opening | $ / shares	$ 3.62
Weighted average exercise price, Granted | $ / shares	3.29
Weighted average exercise price, Forfeited | $ / shares	3.43
Weighted average exercise price, Exercised | $ / shares	3.49
Weighted average exercise price, Ending | $ / shares	$ 3.50

Issued Capital - Schedule of Bl

Issued Capital - Schedule of Black Scholes Options Pricing Model (Details)	12 Months Ended
	Apr. 30, 2023 yr
Disclosure of Inputs into Black Scholes Option Pricing Model [Line Items]
Risk-free interest rate	2.75%
Expected life (years)	3.60
Expected volatility	70.42%
Expected dividend yield	0%
Estimated forfeiture rate	4.63%

Issued Capital - Schedule of _2

Issued Capital - Schedule of Share Options Outstanding and Exercisable (Details)	12 Months Ended
	Apr. 30, 2023 shares $ / shares	Apr. 30, 2022 shares $ / shares
Disclosure of Ranges of Exercises Price of Outstanding and Exercisable Share Options [Line Items]
Number of Options Outstanding | shares	1,196,000	755,000
Weighted Average Exercise Price Outstanding	$ 3.50	$ 3.62
Weighted Average Remaining Contractual Life (years) Outstanding	3 years 3 months
Number of Options Exercisable | shares	976,625
Weighted Average Exercise Price Exercisable	$ 3.55
Weighted Average Remaining Contractual Life (years) Exercisable	3 years 1 month 20 days
Exercise Price of 5.46
Disclosure of Ranges of Exercises Price of Outstanding and Exercisable Share Options [Line Items]
Exercise Price	$ 5.46
Number of Options Outstanding | shares	40,000
Weighted Average Exercise Price Outstanding	$ 5.46
Weighted Average Remaining Contractual Life (years) Outstanding	3 years 4 months 17 days
Number of Options Exercisable | shares	40,000
Weighted Average Exercise Price Exercisable	$ 5.46
Weighted Average Remaining Contractual Life (years) Exercisable	3 years 4 months 17 days
Exercise Price of 4.93
Disclosure of Ranges of Exercises Price of Outstanding and Exercisable Share Options [Line Items]
Exercise Price	$ 4.93
Number of Options Outstanding | shares	5,000
Weighted Average Exercise Price Outstanding	$ 4.93
Weighted Average Remaining Contractual Life (years) Outstanding	3 years 8 months 15 days
Number of Options Exercisable | shares	3,750
Weighted Average Exercise Price Exercisable	$ 4.93
Weighted Average Remaining Contractual Life (years) Exercisable	3 years 8 months 15 days
Exercise Price of 4.20
Disclosure of Ranges of Exercises Price of Outstanding and Exercisable Share Options [Line Items]
Exercise Price	$ 4.20
Number of Options Outstanding | shares	1,000
Weighted Average Exercise Price Outstanding	$ 4.20
Weighted Average Remaining Contractual Life (years) Outstanding	4 years 4 months 9 days
Number of Options Exercisable | shares	1,000
Weighted Average Exercise Price Exercisable	$ 4.20
Weighted Average Remaining Contractual Life (years) Exercisable	4 years 4 months 9 days
Exercise Price of 4.10
Disclosure of Ranges of Exercises Price of Outstanding and Exercisable Share Options [Line Items]
Exercise Price	$ 4.10
Number of Options Outstanding | shares	50,000
Weighted Average Exercise Price Outstanding	$ 4.10
Weighted Average Remaining Contractual Life (years) Outstanding	3 years 1 month 2 days
Number of Options Exercisable | shares	50,000
Weighted Average Exercise Price Exercisable	$ 4.10
Weighted Average Remaining Contractual Life (years) Exercisable	3 years 1 month 2 days
Exercise Price of 3.49
Disclosure of Ranges of Exercises Price of Outstanding and Exercisable Share Options [Line Items]
Exercise Price	$ 3.49
Number of Options Outstanding | shares	612,500
Weighted Average Exercise Price Outstanding	$ 3.49
Weighted Average Remaining Contractual Life (years) Outstanding	3 years 1 month 2 days
Number of Options Exercisable | shares	612,500
Weighted Average Exercise Price Exercisable	$ 3.49
Weighted Average Remaining Contractual Life (years) Exercisable	3 years 1 month 2 days
Exercise Price of 3.31
Disclosure of Ranges of Exercises Price of Outstanding and Exercisable Share Options [Line Items]
Exercise Price	$ 3.31
Number of Options Outstanding | shares	100,000
Weighted Average Exercise Price Outstanding	$ 3.31
Weighted Average Remaining Contractual Life (years) Outstanding	1 year 14 days
Number of Options Exercisable | shares	75,000
Weighted Average Exercise Price Exercisable	$ 3.31
Weighted Average Remaining Contractual Life (years) Exercisable	1 year 14 days
Exercise Price of 3.31
Disclosure of Ranges of Exercises Price of Outstanding and Exercisable Share Options [Line Items]
Exercise Price	$ 3.31
Number of Options Outstanding | shares	332,500
Weighted Average Exercise Price Outstanding	$ 3.31
Weighted Average Remaining Contractual Life (years) Outstanding	4 years 14 days
Number of Options Exercisable | shares	166,875
Weighted Average Exercise Price Exercisable	$ 3.31
Weighted Average Remaining Contractual Life (years) Exercisable	4 years 14 days
Exercise Price of 3.26
Disclosure of Ranges of Exercises Price of Outstanding and Exercisable Share Options [Line Items]
Exercise Price	$ 3.26
Number of Options Outstanding | shares	25,000
Weighted Average Exercise Price Outstanding	$ 3.26
Weighted Average Remaining Contractual Life (years) Outstanding	4 years 1 month 20 days
Number of Options Exercisable | shares	12,500
Weighted Average Exercise Price Exercisable	$ 3.26
Weighted Average Remaining Contractual Life (years) Exercisable	4 years 1 month 20 days
Exercise Price of 3.15
Disclosure of Ranges of Exercises Price of Outstanding and Exercisable Share Options [Line Items]
Exercise Price	$ 3.15
Number of Options Outstanding | shares	5,000
Weighted Average Exercise Price Outstanding	$ 3.15
Weighted Average Remaining Contractual Life (years) Outstanding	4 years 5 months 26 days
Number of Options Exercisable | shares	2,500
Weighted Average Exercise Price Exercisable	$ 3.15
Weighted Average Remaining Contractual Life (years) Exercisable	4 years 5 months 26 days
Exercise Price of 2.88
Disclosure of Ranges of Exercises Price of Outstanding and Exercisable Share Options [Line Items]
Exercise Price	$ 2.88
Number of Options Outstanding | shares	25,000
Weighted Average Exercise Price Outstanding	$ 2.88
Weighted Average Remaining Contractual Life (years) Outstanding	4 years 2 months 8 days
Number of Options Exercisable | shares	12,500
Weighted Average Exercise Price Exercisable	$ 2.88
Weighted Average Remaining Contractual Life (years) Exercisable	4 years 2 months 8 days

Financial Instruments (Details

Financial Instruments (Details Narrative) - CAD ($)	12 Months Ended
	Apr. 30, 2023	Apr. 30, 2022
Statement Line Items [Line Items]
Other comprehensive income	$ 912,000	$ 14,662,000
Net loss	(5,843,000)	$ (4,257,000)
Working capital	$ 128,492,000
Currency risk [member]
Statement Line Items [Line Items]
Short-term investments, percentage	10%
Other comprehensive income	$ 2,776,000
Net loss	$ 1,375,000
Cash percentage	10%
Currency risk [member] | Margin Loan [Member]
Statement Line Items [Line Items]
Net loss	$ 841,000
Percentage of risk exposure	10%
Other price risk [member]
Statement Line Items [Line Items]
Short-term investments, percentage	10%
Other comprehensive income	$ 3,316,000
Interest rate risk [member] | Margin Loan [Member] | Floating interest rate [member]
Statement Line Items [Line Items]
Net loss	$ 0
Interest rate risk [member] | Margin Loan [Member] | Floating interest rate [member] | Would not have a Significant impact on the Net Income Loss [Member]
Statement Line Items [Line Items]
Borrowings, Adjustment to interest rate basis	10%
Borrowings, Interest rate basis	Adjusted Term SOFR Rate

Income Tax - Schedule of Provis

Income Tax - Schedule of Provision for Income Taxes (Details) - CAD ($) $ in Thousands	12 Months Ended
	Apr. 30, 2023	Apr. 30, 2022
Major components of tax expense (income) [abstract]
Net loss before tax for the year	$ 5,858	$ 6,449
Statutory rate	27%	27%
Recovery of income taxes at statutory rates	$ 1,582	$ 1,741
Non-deductible permanent differences and other	(159)	(400)
Change in unrecognized deferred income tax assets	(1,408)	851
Tax recovery for the year	$ 15	$ 2,192

Income Tax - Schedule of Deferr

Income Tax - Schedule of Deferred Tax Assets and Liabilities (Details) - CAD ($) $ in Thousands	12 Months Ended
	Apr. 30, 2023	Apr. 30, 2022
Major components of tax expense (income) [abstract]
Deferred tax liabilities: Excess of accounting value of short-term investments over tax value	$ (2,136)	$ (3,062)
Deferred tax liabilities: Other deferred tax liabilities	(65)	0
Deferred tax assets: Non-capital losses carry-forward	2,201	3,062
Deferred tax assets and liabilities	$ 0	$ 0

Income Tax - Schedule of Tempor

Income Tax - Schedule of Temporary Differences for Deferred Income Tax Assets (Details) - CAD ($) $ in Thousands	Apr. 30, 2023	Apr. 30, 2022
Major components of tax expense (income) [abstract]
Non-capital loss carry-forward	$ 10,478	$ 3,995
Financing costs	2,136	2,927
Other deferred tax assets	455	0
Unrecognized deferred income tax assets	$ 13,069	$ 6,922

Income Tax (Details Narrative)

Income Tax (Details Narrative) $ in Thousands	12 Months Ended
	Apr. 30, 2023 CAD ($)
April 30, 2038 [Member]
Disclosure Of Income Tax [Line Items]
Tax effect of tax losses	$ 321
April 30, 2039 [Member]
Disclosure Of Income Tax [Line Items]
Tax effect of tax losses	3,282
April 30, 2040 [Member]
Disclosure Of Income Tax [Line Items]
Tax effect of tax losses	5,052
April 30, 2041 [Member]
Disclosure Of Income Tax [Line Items]
Tax effect of tax losses	1,680
April 30, 2042 [Member]
Disclosure Of Income Tax [Line Items]
Tax effect of tax losses	5,843
April 30, 2043 [Member]
Disclosure Of Income Tax [Line Items]
Tax effect of tax losses	$ 2,434

Related Party Transactions - Sc

Related Party Transactions - Schedule of Related Party Transactions (Details) - CAD ($) $ in Thousands	12 Months Ended
	Apr. 30, 2023	Apr. 30, 2022
Disclosure Of Related Party [Line Items]
Management salaries and directors' fees	$ 378	$ 290
Share-based compensation	540	540
Total	1,118	1,012
Directors [Member]
Disclosure Of Related Party [Line Items]
Management salaries and directors' fees	$ 200	$ 182

Operating Segments (Details Nar

Operating Segments (Details Narrative)	12 Months Ended
	Apr. 30, 2023 Customer
Disclosure of operating segments [abstract]
Number of customers	1

Commitments (Details Narrative)

Commitments (Details Narrative) - Physical Uranium - C G N Global Uranium Ltd $ in Millions	Nov. 17, 2021 CAD ($) Usperunit lb
Statement Line Items [Line Items]
Purchase commitment, Pounds of physical uranium committed	500,000
Purchase commitments, Weighted average price per pound of physical uranium committed | Usperunit	47.71
Purchase commitments | $	$ 32.3
Purchase commitments, Payment terms	Payments by the Company are required in October 2023, June 2024 and April 2025.
OctoberTwentyTwoThousandAndTwentyThree [Member]
Statement Line Items [Line Items]
Purchase commitments, Pounds of physical uranium receivable	300,000
JuneFourteenTwoThousandAndTwentyFour [Member]
Statement Line Items [Line Items]
Purchase commitments, Pounds of physical uranium receivable	100,000
AprilTwoTwoThousandAndTwentyFive [Member]
Statement Line Items [Line Items]
Purchase commitments, Pounds of physical uranium receivable	100,000

Subsequent Events (Details Narr

Subsequent Events (Details Narrative) - CAD ($) $ / shares in Units, $ in Thousands	1 Months Ended
	May 31, 2023	May 29, 2023	Apr. 30, 2023	Apr. 30, 2022
Disclosure of non-adjusting events after reporting period [line items]
Number of shares issued			4,029,021	6,175,771
Non adjusting Event [Member]
Disclosure of non-adjusting events after reporting period [line items]
Number of shares issued		1,100,000
Price per share		$ 0.70
Office Premises [Member] | Non adjusting Event [Member]
Disclosure of non-adjusting events after reporting period [line items]
Lease term	5 years
Annual lease payment	$ 87
Lease, commencement date	Aug. 01, 2023
Lease, expiration date	Nov. 29, 2028