XML 37 R23.htm IDEA: XBRL DOCUMENT
v3.21.2

SUBSEQUENT EVENTS | 9 Months Ended
--- | ---
Sep. 30, 2021
Subsequent Events [Abstract] |
SUBSEQUENT EVENTS | SUBSEQUENT EVENTS Sale of non-core conventional uranium assets On July 15, 2021, the Company and International Consolidated Uranium Inc., which as of July 23, 2021 became known as Consolidated Uranium Inc. (“CUR”), jointly announced the signing of a definitive asset purchase agreement (the “Agreement”) for CUR to acquire a portfolio of Energy Fuels’ non-core conventional uranium projects located in Utah and Colorado, including the Daneros mine, the Tony M mine, the Rim mine, the Sage Plain project, and several U.S. Department of Energy leases (the “Sale”). On October 27, 2021 (“Closing Date”), the parties closed the Sale in accordance with the terms of the Agreement, as a result of which the aforementioned properties and leases were transferred to CUR in exchange for the following consideration: •$2,000,000 in cash on the Closing Date; •the issuance of 11,860,101 Common Shares of CUR, constituting 19.9% of the outstanding CUR Common Shares immediately after the Closing Date, at a price per share equal to the closing price of the CUR Common Shares on the TSX Venture Exchange (“TSXV”) on the last trading day immediately prior to issuance; •an additional CDN$3,000,000 in cash payable on or before the 18-month anniversary of the Closing Date; •an additional CDN$3,000,000 in cash payable on or before the 36-month anniversary of the Closing Date; and •the commitment to make production payments on a per-project basis totaling CDN$5,000,000 as set forth pursuant to individual production payment agreements executed on the Closing Date. As a part of the Agreement, the Company has entered into a number of mine operating agreements pursuant to which it will act, through its indirect, wholly owned subsidiary Energy Fuels Resources (USA) Inc., as Operator to the Sale projects in accordance with a program and budget negotiated annually by the parties, in exchange for which the Company will receive reimbursement for all direct costs in addition to an overhead allocation and management fee. These non-core conventional uranium project assets met held for sale criteria, but as these assets had no carrying value, there are only asset retirement obligations of $0.24 million separately presented for the period ended September 30, 2021. Sale of shares in the Company's ATM program From October 1, 2021 through October 28, 2021, the Company issued 1.07 million Common Shares at a weighted average price of $8.44 for net proceeds of $8.85 million using the ATM.

X
- References No definition available. + Details
Name: | us-gaap_SubsequentEventsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 855 -URI http://asc.fasb.org/topic&trid=2122774 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 855 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6842918&loc=SL6314017-165662 + Details
Name: | us-gaap_SubsequentEventsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration