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CAPITAL STOCK | 9 Months Ended
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Sep. 30, 2018
Stockholders' Equity Note [Abstract] |
Capital Stock | CAPITAL STOCK Authorized capital stock The Company is authorized to issue an unlimited number of Common Shares without par value, unlimited Preferred Shares issuable in series, and unlimited Series A Preferred Shares. The Series A Preferred Shares issuable are non-redeemable, non-callable, non-voting and with no right to dividends. The Preferred Shares issuable in series will have the rights, privileges, restrictions and conditions assigned to the particular series upon the Board of Directors approving their issuance. Issued capital stock In the nine months ended September 30, 2018, the Company issued 12,573,674 Common Shares under the Company’s “at-the-market” offering (the “ATM”) for net proceeds of $25.64 million. On August 14, 2018 the Company issued 1.10 million shares for consideration of $3.74 million to acquire production royalty on its Nichols Ranch, Hank and Doughstick properties. Share Purchase Warrants The following table summarizes the Company’s share purchase warrants denominated in US dollars. These warrants are accounted for as derivative liabilities as the functional currency of the entity issuing the warrants, Energy Fuels Inc., is Canadian dollars.
Month Issued | Expiry Date |  | Exercise Price USD$ |  | Warrants Outstanding |  | Fair value at September 30, 2018
March 2016 (a) | March 14, 2019 |  | 3.20 |  |  | 2,405,625 |  |  | $ | 1,280 |
September 2016 (b) | September 20, 2021 |  | 2.45 |  |  | 4,167,480 |  |  | 6,116 |
|  |  |  |  |  |  | $ | 7,396 |
(a) The US dollar based warrants issued in March 2016 are classified as Level 2 under the fair value hierarchy (Note 16). (b) The warrants issued in September 2016 are classified as Level 1 under the fair value hierarchy (Note 16). In the three months ended September 30, 2018, 110,000 warrants issued in March 2016 were exercised with a fair value of $0.61 million and 1,270 warrants issued in September 2016 were exercised with a fair value of less than $0.1 million. The following weighted average assumptions were used for the Black-Scholes option pricing model to calculate the $1.28 million of fair value for the 2,405,625 warrants at September 30, 2018.
Risk-free rate | 2.59%
Expected life | 0.5 years
Expected volatility | 36.86%
Expected dividend yield | 0.00%
* | Expected volatility is measured based on the Company’s historical share price volatility over the expected life of the warrants.

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- Definition The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -URI http://asc.fasb.org/topic&trid=2208762 + Details
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