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SEGMENT INFORMATION | 6 Months Ended
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Jun. 30, 2017
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. 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”). Non-mining activities and other operations are reported in Corporate and other. 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 June 30, 2017 the conventional mining projects in the vicinity of the White Mesa Mill are on standby, being upgraded and 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 June 30, 2017:
| Operating Segments |  | Non-Operating Segments |  |
Three months ended June 30, 2017 | Conventional |  | ISR |  | Corporate & Other |  | Total
Revenues |  |  |  |  |  |  |
Uranium concentrates | 4,406 |  |  | 10,637 |  |  | — |  |  | 15,043 |
Alternate feed materials processing and other | 2,840 |  |  | — |  |  | — |  |  | 2,840 |
Total revenues | 7,246 |  |  | 10,637 |  |  | — |  |  | 17,883 |
Costs and expenses applicable to revenues |  |  |  |  |  |  |
Costs and expenses applicable to uranium concentrates | 1,503 |  |  | 7,771 |  |  | — |  |  | 9,274 |
Costs and expenses applicable to alternate feed materials and other | 1,797 |  |  | — |  |  | — |  |  | 1,797 |
Total costs and expenses applicable to revenues | 3,300 |  |  | 7,771 |  |  | — |  |  | 11,071 |
Other operating costs |  |  |  |  |  |  |
Impairment of inventories | 179 |  |  | 1,778 |  |  | — |  |  | 1,957 |
Development, permitting and land holding | 1,045 |  |  | 141 |  |  | — |  |  | 1,186 |
Standby costs | 216 |  |  | 813 |  |  | — |  |  | 1,029 |
Abandonment of mineral properties | — |  |  | 42 |  |  | — |  |  | 42 |
Impairment of assets held for sale | — |  |  | 3,599 |  |  | — |  |  | 3,599 |
Accretion of asset retirement obligation | 171 |  |  | 175 |  |  | — |  |  | 346 |
Selling costs | 45 |  |  | — |  |  | — |  |  | 45 |
Intangible asset amortization | 981 |  |  | 1,906 |  |  | — |  |  | 2,887 |
General and administration | 393 |  |  | 199 |  |  | 2,786 |  |  | 3,378 |
Total operating loss | 916 |  |  | (5,787 | ) |  | (2,786 | ) | — |  | (7,657 | )
Interest expense | — |  |  | — |  |  | (503 | ) |  | (503 | )
Other expense | — |  |  | — |  |  | 3,680 |  |  | 3,680 |
Net loss | $ | 916 |  |  | $ | (5,787 | ) |  | $ | 391 |  |  | $ | (4,480 | )
Attributable to shareholders | $ | 916 |  |  | $ | (5,777 | ) |  | $ | 391 |  |  | $ | (4,470 | )
Non-controlling interests | — |  |  | (10 | ) |  | — |  |  | $ | (10 | )
Net loss for the period | $ | 916 |  |  | $ | (5,787 | ) |  | $ | 391 |  |  | $ | (4,480 | )
The following tables set forth operating results by reportable segment for the six months ended June 30, 2017:
| Operating Segments |  | Non-Operating Segments |  |
Six months ended June 30, 2017 | Conventional |  | ISR |  | Corporate & Other |  | Total
Revenues |  |  |  |  |  |  |
Uranium concentrates | 7,903 |  |  | 10,637 |  |  | — |  |  | 18,540 |
Alternate feed materials processing and other | 3,099 |  |  | — |  |  | — |  |  | 3,099 |
Total revenues | 11,002 |  |  | 10,637 |  |  | — |  |  | 21,639 |
Costs and expenses applicable to revenues |  |  |  |  |  |  |
Costs and expenses applicable to uranium concentrates | 3,341 |  |  | 7,771 |  |  | — |  |  | 11,112 |
Costs and expenses applicable to alternate feed materials and other | 2,030 |  |  | — |  |  | — |  |  | 2,030 |
Total costs and expenses applicable to revenues | 5,371 |  |  | 7,771 |  |  | — |  |  | 13,142 |
Other operating costs |  |  |  |  |  |  |
Impairment of inventories | 179 |  |  | 1,778 |  |  | — |  |  | 1,957 |
Development, permitting and land holding | 3,957 |  |  | 552 |  |  | — |  |  | 4,509 |
Standby costs | 645 |  |  | 1,590 |  |  | — |  |  | 2,235 |
Abandonment of mineral properties | — |  |  | 287 |  |  | — |  |  | 287 |
Impairment of assets held for sale | — |  |  | 3,599 |  |  | — |  |  | 3,599 |
Accretion of asset retirement obligation | 341 |  |  | 350 |  |  | — |  |  | 691 |
Selling costs | 115 |  |  | — |  |  | — |  |  | 115 |
Intangible asset amortization | 1,186 |  |  | 1,906 |  |  | — |  |  | 3,092 |
General and administration | 1,168 |  |  | 427 |  |  | 6,211 |  |  | 7,806 |
Total operating loss | (1,960 | ) |  | (7,623 | ) |  | (6,211 | ) |  | (15,794 | )
Interest Expense | — |  |  | — |  |  | (1,045 | ) |  | (1,045 | )
Other income | — |  |  | — |  |  | 1,763 |  |  | 1,763 |
Net loss | $ | (1,960 | ) |  | $ | (7,623 | ) |  | $ | (5,493 | ) |  | $ | (15,076 | )
Attributable to shareholders | $ | (1,960 | ) |  | $ | (7,525 | ) |  | $ | (5,493 | ) |  | $ | (14,978 | )
Non-controlling interests | — |  |  | (98 | ) |  | — |  |  | (98 | )
Net loss for the period | $ | (1,960 | ) |  | $ | (7,623 | ) |  | $ | (5,493 | ) |  | $ | (15,076 | )

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
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