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PLANT AND EQUIPMENT AND MINERAL PROPERTIES | 6 Months Ended
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Jun. 30, 2022
Property, Plant and Equipment [Abstract] |
Plant and Equipment and Mineral Properties | PROPERTY, PLANT AND EQUIPMENT AND MINERAL PROPERTIES The following is a summary of property, plant and equipment:
| June 30, 2022 |  | December 31, 2021
| Cost |  | Accumulated Depreciation |  | Net Book Value |  | Cost |  | Accumulated Depreciation |  | Net Book Value
Property, plant and equipment |  |  |  |  |  |  |  |  |  |  |
Nichols Ranch | $ | 29,210 |  |  | $ | (19,203) |  |  | $ | 10,007 |  |  | $ | 29,210 |  |  | $ | (18,185) |  |  | $ | 11,025 |
Alta Mesa | 13,626 |  |  | (5,451) |  |  | 8,175 |  |  | 13,626 |  |  | (4,996) |  |  | 8,630 |
Equipment and other | 16,290 |  |  | (12,957) |  |  | 3,333 |  |  | 15,079 |  |  | (12,751) |  |  | 2,328 |
Property, plant and equipment total | $ | 59,126 |  |  | $ | (37,611) |  |  | $ | 21,515 |  |  | $ | 57,915 |  |  | $ | (35,932) |  |  | $ | 21,983 |
Depreciation expense totaled $0.87 million and $1.68 million, respectively, for the three and six months ended June 30, 2022, compared to $0.79 million and $1.56 million, respectively, for the three and six months ended June 30, 2021. The following is a summary of mineral properties:
| June 30, 2022 |  | December 31, 2021
Mineral properties |  |  |
Uranerz ISR properties | $ | 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 |
On May 19, 2022, the Company announced that it had entered into two purchase agreements to acquire a total of seventeen mineral concessions in the State of Bahia, Brazil totaling approximately 37,300 acres or 58.3 square miles (the “Bahia Project”). Under the terms of the purchase agreements, the Company will enter into mineral rights transfer agreements with the sellers to acquire the seventeen mineral sand concessions. The transactions are expected to close in August of 2022. The total purchase price under the purchase agreements is $27.50 million consisting of deposit payments of $5.50 million due upon reaching certain milestones stated within the purchase agreements, and $22.00 million due at closing with the transfer and assignment of the mineral rights. As of June 30, 2022, the Company has made deposit payments totaling $5.50 million that will be attributable to the final purchase price under the purchase agreements, pending the close of the transactions. Additionally, direct deal costs of $0.50 million have been incurred related to such asset acquisitions. The purchase deposit payments and direct deal costs have been capitalized as Prepaid expenses and other assets in the Condensed Consolidated Balance Sheet.

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- Definition The entire disclosure for long-lived, physical asset used in normal conduct of business and not intended for resale. Includes, but is not limited to, work of art, historical treasure, and similar asset classified as collections. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 958 -SubTopic 360 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=120429125&loc=d3e99893-112916 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -URI http://asc.fasb.org/topic&trid=2155823 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 958 -SubTopic 360 -Section 50 -Paragraph 7 -URI http://asc.fasb.org/extlink&oid=120429125&loc=SL120174063-112916 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 958 -SubTopic 360 -Section 50 -Paragraph 1 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=120429125&loc=d3e99779-112916 + Details
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