4 unchanged sentences
These rules became applicable to our disclosures on August 1, 2021.
−Removed: Regulation S-K 1300 requires the disclosure of mineral resources for the first time.
+Added: Regulation S-K 1300 requires the disclosure of mineral resources.
However, we have no mineral resource estimates as all mineral accumulations of economic interest and with reasonable prospects for eventual economic extraction are either currently on production or subject to an economically viable future development plan and are classified as mineral reserves.
12 unchanged sentences
Nevada 535 — — 535 — — —
−Removed: Oregon 340 — — 340 0 0 0
Tennessee 178 — — 178 — — —
3 unchanged sentences
See also Item 1 “Business” above for further information about our reserves.
−Removed: Apart from certain mines in Georgia and Illinois, all mines in Mississippi, Georgia, California and Illinois are currently in active production and collectively produced approximately 832,000 and 781,000 tons of finished product in fiscal years 2022, and 2021, respectively.
+Added: Apart from certain mines in Georgia and Illinois, all mines in Mississippi, Georgia, California and Illinois are currently in active production and collectively produced approximately 807 thousand and 832 thousand tons of finished product in fiscal years 2023, and 2022, respectively.
Certain of our mines in Georgia are currently in development.
1 unchanged sentence
In addition, we own approximately one acre of land in Laval, Quebec, Canada, which is the site of the processing, packaging and distribution facility for our Canadian subsidiary.
−Removed: While we have reserves in Nevada, Oregon and Tennessee we are not actively mining these properties.
+Added: While we have reserves in Nevada and Tennessee, we are not actively mining these properties.
M INING P ROPERTIES
19 unchanged sentences
As a result, we are only required to disclose summary information related to our mineral reserves.
−Removed: Our mineral reserves as of July 31, 2022, have been prepared and certified by Jason Giddens, Corporate Geologist, our Qualified Person (QP) who is employed by us and who is a certified professional geologist.
+Added: Our mineral reserves as of July 31, 2023, have been prepared and certified by Fred Heivilin, our Qualified Person (QP) who is contracted by us as a consultant and who is a certified professional geologist.
Our summary of proven and probable reserves as of July 31, 2023, is as follows:
8 unchanged sentences
Nevada 23,316 2,976 26,292
−Removed: Oregon — 25 25
Tennessee 3,000 3,000 6,000
92,086 138,528 230,614
−Removed: We estimate that our proven mineral reserves as of July 31, 2022 were approximately 101,393,000 tons in aggregate and our probable reserves were approximately 176,352,000 tons in aggregate, for a total of 277,745,000 tons of mineral reserves.
−Removed: Based on our rate of consumption during fiscal year 2022, and without regard to any of our reserves in Nevada, Oregon and Tennessee, we consider our proven and probable reserves adequate to supply our needs for over 40 years.
+Added: Based on our rate of consumption during fiscal year 2023, and without regard to any of our reserves in Nevada and Tennessee, where we do not actively mine, we consider our proven and probable reserves adequate to supply our needs for over 40 years.
Although we consider these reserves to be extremely valuable to our business, only a small portion of the reserves, those which were acquired in acquisitions, are reflected at cost on our balance sheet.
11 unchanged sentences
Information that is utilized to compile mineral reserves is prepared and certified by our QP and is subject to internal review.
−Removed: Refer to Item 1A.
−Removed: “Risk Factors” for discussion of risks associated with our estimates of mineral reserves.
+Added: Refer to Item 1A “Risk Factors” for discussion of risks associated with our estimates of mineral reserves.
M INING AND M ANUFACTURING M ETHODS
56 unchanged sentences
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.