PLANT AND EQUIPMENT AND MINERAL PROPERTIES

6 Months Ended

Jun. 30, 2016

PLANT AND EQUIPMENT AND MINERAL PROPERTIES [Text Block]

5.	PLANT AND EQUIPMENT AND MINERAL PROPERTIES

The following is a summary of plant and equipment:

		June 30,							December 31,
		2016							2015
				Accumulated			Net Book				Accumulated			Net Book
		Cost		Depreciation			Value		Cost		Depreciation			Value
Plant and equipment
Nichols Ranch	$	29,210	$	(4,583	)	$	24,627	$	29,210	$	(2,370	)	$	26,840
Alta Mesa (Note 3)		13,680		-			13,680		-		-			-
Equipment and other		13,151		(11,144	)		2,007		13,107		(10,878	)		2,229
Plant and equipment total	$	56,041	$	(15,727	)	$	40,314	$	42,317	$	(13,248	)	$	29,069

The following is a summary of mineral properties:

		June 30,		December 31,
		2016		2015
Mineral properties
In-situ Recovery
Uranerz ISR properties	$	36,065	$	36,096
In-situ Recovery total	$	36,065	$	36,096
Conventional
Sheep Mountain		34,183		34,183
Roca Honda (a)		22,095		19,465
Other		1,287		1,287
Conventional total		57,565		54,935
Mineral Properties total	$	93,630	$	91,031

On May 27, 2016, the Company issued 1,212,173 shares to acquire the remaining 40% interest of the Roca Honda project for consideration of $2.68 million as well as an additional $4.5 million in cash payable upon first commencement of commercial mineral extraction. The acquisition was accounted for as a purchase of assets as Roca Honda does not meet the definition of a business under ASC Topic 805, Business Combinations because the Company does not currently have the resources, both inputs and processes, to apply to the Roca Honda property in order to extract uranium.