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PLANT AND EQUIPMENT AND MINERAL PROPERTIES

9 Months Ended

Sep. 30, 2018

Property, Plant and Equipment [Abstract]

Plant and Equipment and Mineral Properties

PLANT AND EQUIPMENT AND MINERAL PROPERTIES

The following is a summary of plant and equipment:

	September 30, 2018												December 31, 2017
	Cost				Accumulated Depreciation				Net Book Value				Cost				Accumulated Depreciation				Net Book Value
Plant and equipment
Nichols Ranch	$	29,210			$	(11,508	)		$	17,702			$	29,210			$	(9,971	)		$	19,239
Alta Mesa	13,626				(2,086		)		11,540				13,626				(1,388		)		12,238
Equipment and other	13,416				(12,042		)		1,374				13,367				(11,768		)		1,599
Plant and equipment total	$	56,252			$	(25,636	)		$	30,616			$	56,203			$	(23,127	)		$	33,076

Acquisition of Royalties

On August 14, 2018 the Company issued 1.10 million shares for consideration of $3.74 million to acquire a 6% – 8% sliding-scale gross proceeds production royalty on its Nichols Ranch, Hank and Doughstick properties (Doughstick is a part of the Company’s Jane Dough Project expansion area) and extinguished the royalty. This royalty also applied to the nearby Niles Ranch, Willow Creek, and Verna Ann properties, which are important pipeline uranium properties also owned by the Company. Acquisition of this royalty is expected to significantly decrease the Company’s cost of production at Nichols Ranch. As the Company does not have any reserves as defined by SEC Industry Guide 7, the Company has expensed this as development, permitting and land holding costs in the statement of operations and comprehensive loss.

The following is a summary of mineral properties:

	September 30, 2018				December 31, 2017
Mineral properties
Uranerz ISR properties (a)	$	25,974			$	25,974
Sheep Mountain	34,183				34,183
Roca Honda	22,095				22,095
Other	1,287				1,287
Mineral properties total	$	83,539			$	83,539

a)     In the three and nine months ended September 30, 2017, the Company did not renew certain mineral leases and recorded abandonment expense of $Nil and $0.29 million, respectively, in the statement of operations.

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- References

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- Definition

The entire disclosure for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, accounting policies and methodology, roll forwards, depreciation, depletion and amortization expense, including composite depreciation, accumulated depreciation, depletion and amortization expense, useful lives and method used, income statement disclosures, assets held for sale and public utility disclosures.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 360
-URI http://asc.fasb.org/topic&trid=2155823

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