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REVENUE RECOGNITION AND CONTRACTS WITH CUSTOMERS | 12 Months Ended
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Dec. 31, 2024
Revenue from Contract with Customer [Abstract] |
REVENUE RECOGNITION AND CONTRACTS WITH CUSTOMERS | REVENUE RECOGNITION AND CONTRACTS WITH CUSTOMERS All revenue recognized is a result of contracts with customers by way of uranium, vanadium, heavy mineral sands, and RE Carbonate sales contracts, Alternate Feed Material processing contracts and/or byproduct disposal agreements with other ISR facilities. As of December 31, 2024 and 2023, the Company's receivables from its contracts with customers was $29.02 million and $0.41 million, respectively. Disaggregation of Revenue The table set forth below presents revenue disaggregated by type and reportable segment to which it relates:
|  | Year Ended December 31, |  |
|  | 2024 |  | 2023 |  | 2022 |  | Reportable Segment
Heavy mineral sands |  | $ | 39,874 |  |  | $ | — |  |  | $ | — |  |  | Heavy Mineral Sands
Uranium concentrates |  | 37,904 |  |  | 33,278 |  |  | — |  |  | Uranium
Alternate Feed Materials, processing and other |  | 336 |  |  | 931 |  |  | 1,615 |  |  | Uranium
RE Carbonate |  | — |  |  | 2,848 |  |  | 2,122 |  |  | Rare Earth Elements
Vanadium concentrates |  | — |  |  | 871 |  |  | 8,778 |  |  | Uranium
Total revenues |  | $ | 78,114 |  |  | $ | 37,928 |  |  | $ | 12,515 |  |  |
Major Customers Sales to major customers (purchases in excess of 10% of total sales) are summarized as follows:
| Years Ended December 31, |  |
| 2024 |  | 2023 |  | 2022 |  | Reportable Segment
Customer 1 | $ | 15,026 |  |  | $ | 10,472 |  |  | $ | — |  |  | Uranium
Customer 2 | 10,896 |  |  | — |  |  | — |  |  | Heavy Mineral Sands
Customer 3 | 8,590 |  |  | — |  |  | — |  |  | Uranium
Customer 4 | — |  |  | 18,470 |  |  | — |  |  | Uranium
Customer 5 | — |  |  | 4,335 |  |  | — |  |  | Uranium
Customer 6 | — |  |  | 2,848 |  |  | 2,122 |  |  | Rare Earth Elements
| — |  |  | — |  |  | 470 |  |  | Uranium
Customer 7 | — |  |  | 866 |  |  | 8,778 |  |  | Uranium
Customer 8 | — |  |  | — |  |  | 445 |  |  | Uranium
Major Countries The Company’s revenues by country of customer are as follows:
| Years Ended December 31, |  |
| 2024 |  | 2023 |  | 2022 |  | Reportable Segment
U.S. | $ | 24,333 |  |  | $ | 34,514 |  |  | $ | 9,473 |  |  | Uranium
270 |  |  | — |  |  | — |  |  | Heavy Mineral Sands
China | 17,303 |  |  | — |  |  | — |  |  | Heavy Mineral Sands
Japan | 12,409 |  |  | — |  |  | — |  |  | Heavy Mineral Sands
Netherlands | 6,481 |  |  | — |  |  | — |  |  | Heavy Mineral Sands
5,275 |  |  | — |  |  | — |  |  | Uranium
Germany | 8,590 |  |  | — |  |  | — |  |  | Uranium
Spain | 1,245 |  |  | — |  |  | — |  |  | Heavy Mineral Sands
South Korea | 1,169 |  |  | — |  |  | — |  |  | Heavy Mineral Sands
Mexico | 806 |  |  | — |  |  | — |  |  | Heavy Mineral Sands
Kenya | 191 |  |  | — |  |  | — |  |  | Heavy Mineral Sands
Estonia | — |  |  | 2,848 |  |  | 2,122 |  |  | Rare Earth Elements
| — |  |  | — |  |  | 470 |  |  | Uranium
Canada | 42 |  |  | 566 |  |  | 450 |  |  | Uranium
Total revenues | $ | 78,114 |  |  | $ | 37,928 |  |  | $ | 12,515 |  |  |

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- Definition The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 9 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-9 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 10 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-10 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-15 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Subparagraph (b)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-13 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Topic 606 -Publisher FASB -URI https://asc.fasb.org/606/tableOfContent + Details
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