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SEGMENT INFORMATION
 3 Months Ended
Mar. 31, 2016
SEGMENT INFORMATION [Text Block]

14. SEGMENT INFORMATION

The Company is engaged in uranium extraction, recovery and sales of uranium from mineral properties and the recycling of uranium bearing materials generated by third parties. As a part of these activities the Company also acquires, explores, evaluates and, if warranted, permits uranium properties. The Company’s primary mining activities are in the United States.

The reportable segments are those operations whose operating results are reviewed by the Chief Executive Officer to make decisions about resources to be allocated to the segment and assess its performance provided those operations pass certain quantitative thresholds. Operations whose revenues, earnings or losses or assets exceed 10% of the total consolidated revenue, earnings or losses or assets are reportable segments. Information about assets and liabilities of the segment has not been provided because the information is not used to assess performance.

In order to determine reportable operating segments, management reviewed various factors, including geographical location and managerial structure. It was determined by management that a reportable operating segment generally consists of an individual property managed by a single general manager and management team. Finance income (expense), other income (expenses) are managed on a consolidated basis and are not allocated to operating segments.

Non-mining activities and other operations are reported in Corporate and other.

The Company has two operating segments, the conventional uranium recovery segment (the “Conventional Uranium Segment”) and the in-situ uranium recovery segment (“ISR Uranium Segment”).

The Conventional Uranium Segment

The Conventional Uranium Segment consists of a standalone conventional uranium recovery facility (the “White Mesa Mill”), conventional mining projects in the vicinity of the White Mesa Mill located in the Colorado Plateau, Henry Mountains, Arizona Strip, and the Roca Honda joint venture (“Roca Honda”) in New Mexico, and the Sheep Mountain Project in Wyoming. At March 31, 2016 the conventional mining projects in the vicinity of the White Mesa Mill are on standby, being evaluated for continued mining activities and/or in process of being permitted. The White Mesa Mill also processes third party uranium bearing mineralized materials from mining and recycling activities.

The ISR Uranium Segment

The ISR Uranium Segment consists of a uranium recovery facility to recover from operating wellfields of the Nichols Ranch Project located in Wyoming. The Nichols Ranch Project also includes the Jane Dough property and the Hank Project. Additionally, the segment includes other mineral properties in the vicinity on the Nichols Ranch Project. These assets were acquired as part of the Company’s 2015 acquisition of Uranerz.

The following tables set forth operating results by reportable segment for the three months ended March 31, 2016: Note the ISR Segment was acquired on June 18, 2015. Prior to the acquisition the Company’s reportable segment was its conventional uranium segment.

          Non-Operating        
    Operating Segments     Segments        
                         
Three months ended March 31, 2016   Conventional     ISR     Corporate & Other     Total  
Revenue $ 17,996   $   -   $   -     17,996  
 Costs and expenses applicable to revenue   12,143     -     -     12,143  
 Development, permitting and land holding   2,856     4,586     -     7,442  
 Standby costs   2,166     -     -     2,166  
 Accretion of asset retirement obligation   130     45     -     175  
 Selling costs   74     -     -     74  
 Intangible asset amortization   219     -     -     219  
 General and administration   -     339     3,489     3,828  
 Costs directly attributable to acquisitions   -     -     326     326  
Total operating loss   408     (4,970 )   (3,815 )   (8,377 )
                         
Interest Expense   -     -     (576 )   (576 )
Other income (expense)   -     -     88     (265 )
Net loss $ 408   $ (4,970 ) $ (4,303 ) $ (8,865 )
Attributable to shareholders $ 408   $ (4,913 ) $ (4,303 ) $ (8,808 )
Non-controlling interests   -     (57 )   -     (57 )
Net loss for the period $ 408   $ (4,970 ) $ (4,303 ) $ (8,865 )