XML 121 R38.htm IDEA: XBRL DOCUMENT v3.8.0.1
PLANT AND EQUIPMENT AND MINERAL PROPERTIES (Tables)
 12 Months Ended
Dec. 31, 2017
Property, Plant and Equipment [Abstract]  
Schedule of Property, Plant and Equipment
Where straight-line depreciation is utilized, the range of useful lives for various asset classes is generally as follows:
•
Buildings
15 years
•
Shop tools and equipment
3-5 years
•
Mining equipment
5 years
•
Office equipment
4-5 years
•
Furniture and fixtures
5-7 years
•
Light trucks & utility vehicles
5 years
The following is a summary of plant and equipment:
 
December 31, 2017
 
December 31, 2016
 
Cost
 
Accumulated
Depreciation
 
Net Book Value
 
Cost
 
Accumulated
Depreciation
 
Net Book
Value
Plant and equipment
 
 
 
 
 
 
 
 
 
 
 
Nichols Ranch
$
29,210

 
$
(9,971
)
 
$
19,239

 
$
29,210

 
$
(6,804
)
 
$
22,406

Alta Mesa
13,626

 
(1,388
)
 
12,238

 
13,626

 
(456
)
 
13,170

Equipment and other
13,367

 
(11,768
)
 
1,599

 
13,367

 
(11,361
)
 
2,006

Plant and equipment total
$
56,203

 
$
(23,127
)
 
$
33,076

 
$
56,203

 
$
(18,621
)
 
$
37,582
Schedule of Summary of Mineral Properties
The following is a summary of mineral properties:
 
December 31, 2017
 
December 31, 2016
Mineral properties
 
 
 
Uranerz ISR properties (a)
$
25,974

 
$
35,060

Sheep Mountain
34,183

 
34,183

Roca Honda (b)
22,095

 
22,095

Other (a)
1,287

 
1,287

Mineral properties total
$
83,539

 
$
92,625

a)
In the year ended December 31, 2017 the Company did not renew certain mineral leases and recorded abandonment expense of $0.29 million (December 31, 2016 – $1.04 million, December 31, 2015 – $2.77 million) in the statement of operations.
b)
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 $2.63 million and 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 FASB ASC Topic 805, Business Combinations because Roca Honda does not currently have the resources, both inputs and processes, to apply to the Roca Honda property in order to extract uranium.