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PLANT AND EQUIPMENT AND MINERAL PROPERTIES | 12 Months Ended
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Dec. 31, 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:
| December 31, 2018 |  | December 31, 2017
| Cost |  | Accumulated Depreciation |  | Net Book Value |  | Cost |  | Accumulated Depreciation |  | Net Book Value
Plant and equipment |  |  |  |  |  |  |  |  |  |  |
Nichols Ranch | $ | 29,210 |  |  | $ | (12,021 | ) |  | $ | 17,189 |  |  | $ | 29,210 |  |  | $ | (9,971 | ) |  | $ | 19,239 |
Alta Mesa | 13,656 |  |  | (2,319 | ) |  | 11,337 |  |  | 13,626 |  |  | (1,388 | ) |  | 12,238 |
Equipment and other | 13,444 |  |  | (12,127 | ) |  | 1,317 |  |  | 13,367 |  |  | (11,768 | ) |  | 1,599 |
Plant and equipment total | $ | 56,310 |  |  | $ | (26,467 | ) |  | $ | 29,843 |  |  | $ | 56,203 |  |  | $ | (23,127 | ) |  | $ | 33,076 |
The net book value for Nichols Ranch Project includes the value beyond proven and probable reserves ascribed to the processing plant, the Nichols Ranch wellfields and the Jane Dough project upon acquisition. For the year ended December 31, 2018, the Company recorded $2.05 million (2017 - $3.17 million) of depreciation expense related to Nichols Ranch, which is included in the costs and expenses applicable to revenue in the Statement of the operations and comprehensive income for the year ended December 31, 2018. 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:
| December 31, 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 (a) | 1,287 |  |  | 1,287 |
Mineral properties total | $ | 83,539 |  |  | $ | 83,539 |
a) | In the year ended December 31, 2018 the Company renewed all mineral leases and therefore did not record abandonment expense in the statement of operations. 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) in the statement of operations.

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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 + Details
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