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PLANT AND EQUIPMENT AND MINERAL PROPERTIES
 6 Months Ended
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, 2022December 31, 2021
CostAccumulated
Depreciation		Net Book ValueCostAccumulated
Depreciation		Net Book
Value
Property, plant and equipment
Nichols Ranch$29,210 $(19,203)$10,007 $29,210 $(18,185)$11,025 
Alta Mesa13,626 (5,451)8,175 13,626 (4,996)8,630 
Equipment and other16,290 (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, 2022December 31, 2021
Mineral properties
Uranerz ISR properties $25,974 $25,974 
Sheep Mountain34,183 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.