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PROPERTY, PLANT AND EQUIPMENT AND MINERAL PROPERTIES | 12 Months Ended
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Dec. 31, 2019
Property, Plant and Equipment [Abstract] |
Plant and Equipment and Mineral Properties | PROPERTY, PLANT AND EQUIPMENT AND MINERAL PROPERTIES The following is a summary of plant and equipment:
| December 31, 2019 |  | December 31, 2018
| Cost |  | Accumulated Depreciation |  | Net Book Value |  | Cost |  | Accumulated Depreciation |  | Net Book Value
Property, plant and equipment |  |  |  |  |  |  |  |  |  |  |
Nichols Ranch | $ | 29,210 |  |  | $ | (14,115 | ) |  | $ | 15,095 |  |  | $ | 29,210 |  |  | $ | (12,021 | ) |  | $ | 17,189 |
Alta Mesa | 13,626 |  |  | (3,179 | ) |  | 10,447 |  |  | 13,656 |  |  | (2,319 | ) |  | 11,337 |
Equipment and other | 12,900 |  |  | (12,239 | ) |  | 661 |  |  | 13,444 |  |  | (12,127 | ) |  | 1,317 |
Property, plant and equipment total | $ | 55,736 |  |  | $ | (29,533 | ) |  | $ | 26,203 |  |  | $ | 56,310 |  |  | $ | (26,467 | ) |  | $ | 29,843 |
The net book value for the 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, 2019, the Company recorded $2.09 million (December 31, 2018 - $2.05 million) of depreciation expense related to Nichols Ranch, which is included in the costs and expenses applicable to revenue in the statement of operations and comprehensive loss. 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 future 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, 2019 |  | December 31, 2018
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 years ended December 31, 2019 and 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.

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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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -URI http://asc.fasb.org/topic&trid=2155823 + Details
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