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SEGMENT INFORMATION
 9 Months Ended
Sep. 30, 2016
Segment Reporting [Abstract]  
Segment Reporting
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 (the “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 Project (“Roca Honda”) in New Mexico, and the Sheep Mountain Project (“Sheep Mountain”) in Wyoming. At September 30, 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 an operating uranium recovery facility to recover concentrated uranium from wellfields of the Nichols Ranch Project located in Wyoming and a uranium recovery facility and wellfields maintained on standby as part of the Alta Mesa Project in Texas. The Nichols Ranch Project also includes the Jane Dough property and the Hank Project. Additionally, the segment includes other mineral properties in the vicinity of the Nichols Ranch Project and the Alta Mesa Project. The Nichols Ranch Project and surrounding assets were acquired as part of the Company’s 2015 acquisition of Uranerz Energy Corporation and the Alta Mesa Project was acquired in June of 2016.
The following tables set forth operating results by reportable segment for the three months ended September 30, 2016:
 
 
 
 
 
Non-Operating
 
 
 
Operating Segments
 
Segments
 
 
Three months ended September 30, 2016
Conventional
 
ISR
 
Corporate & Other
 
Total
Revenue
$
8,702

 
$
—

 
$
—

 
8,702

Costs and expenses applicable to revenue
4,341

 
—

 
—

 
4,341

Impairment of inventories
—

 
1,379

 
—

 
1,379

Development, permitting and land holding
2,527

 
3,725

 
—

 
6,252

Standby costs
260

 
387

 
—

 
647

Abandonment of mineral properties
—

 
1,005

 
—

 
1,005

Accretion of asset retirement obligation
130

 
45

 
—

 
175

Selling costs
47

 
—

 
—

 
47

Intangible asset amortization
583

 
—

 
—

 
583

General and administration
—

 
437

 
3,378

 
3,815

Total operating income (loss)
814

 
(6,978
)
 
(3,378
)
 
(9,542
)
 
 
 
 
 
 
 
 
Interest Expense
—

 
—

 
(573
)
 
(573
)
Other income
—

 
—

 
1,870

 
1,870

Net income (loss)
$
814

 
$
(6,978
)
 
$
(2,081
)
 
$
(8,245
)
Attributable to shareholders
$
814

 
$
(6,809
)
 
$
(2,081
)
 
$
(8,076
)
Non-controlling interests
—

 
(169
)
 
—

 
(169
)
Net income (loss) for the period
$
814

 
$
(6,978
)
 
$
(2,081
)
 
$
(8,245
)

The following tables set forth operating results by reportable segment for the nine months ended September 30, 2016:
 
 
 
 
 
Non-Operating
 
 
 
Operating Segments
 
Segments
 
 
Nine months ended September 30, 2016
Conventional
 
ISR
 
Corporate & Other
 
Total
Revenue
$
26,704

 
$
7,000

 
$
—

 
33,704

Costs and expenses applicable to revenue
16,484

 
4,099

 
—

 
20,583

Impairment of inventories
—

 
2,998

 
—

 
2,998

Development, permitting and land holding
7,806

 
9,332

 
—

 
17,138

Standby costs
3,791

 
387

 
—

 
4,178

Abandonment of mineral properties
—

 
1,036

 
—

 
1,036

Accretion of asset retirement obligation
389

 
137

 
—

 
526

Selling costs
216

 
—

 
—

 
216

Intangible asset amortization
802

 
2,219

 
—

 
3,021

General and administration
—

 
1,233

 
10,695

 
11,928

Total operating loss
(2,784
)
 
(14,441
)
 
(10,695
)
 
(27,920
)
 
 
 
 
 
 
 
 
Interest Expense
—

 
—

 
(1,734
)
 
(1,734
)
Other income
—

 
—

 
2,103

 
2,103

Net loss
$
(2,784
)
 
$
(14,441
)
 
$
(10,326
)
 
$
(27,551
)
Attributable to shareholders
$
(2,784
)
 
$
(14,182
)
 
$
(10,326
)
 
$
(27,292
)
Non-controlling interests
—

 
(259
)
 
—

 
(259
)
Net loss for the period
$
(2,784
)
 
$
(14,441
)
 
$
(10,326
)
 
$
(27,551
)