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SEGMENT INFORMATION
 12 Months Ended
Dec. 31, 2024
Segment Reporting [Abstract]  
Segment Information REPORTABLE SEGMENTS
The Company's operations are located in the United States, Brazil, Kenya, Madagascar and Australia and are organized into three reportable segments: (i) uranium, (ii) heavy mineral sands and (iii) rare earth elements. These segments are monitored separately for performance and are consistent with internal financial reporting. Each segment has been identified based on the differing products and services, regulatory environment, and the expertise required for these distinct operations with the objective of providing information about the different types of business activities in which the Company engages and the different economic environments in which it operates to help the users of the financial statements better understand performance, better assess future net cash flows, and make more informed judgements about the Company as a whole. The CODM is the Chief Executive Officer. The CODM evaluates the performance of the Company's reportable segments based on operating income (loss). Other income (loss) and income taxes are primarily managed and evaluated on a consolidated basis. Accounting policies for each segment are the same as the Company's accounting policies described in Note 2 – Summary of Significant Accounting Policies to the consolidated financial statements.
Summary of Reportable Segments
Uranium
The uranium segment engages in conventional and in situ recovery uranium extraction, recovery and sales of uranium from mineral properties and the recycling of uranium-bearing materials generated by third parties along with the exploration, permitting and evaluation of uranium properties in the United States. As part of these activities, the Company also acquires, explores, evaluates and, if warranted, permits uranium properties. The Company's final uranium product is U3O8, which is sold to customers for further processing into fuel for nuclear reactors. The Company also produces vanadium pentoxide, V2O5, as a co-product of uranium at the Mill. In addition to uranium, the Company is also exploring opportunities to separate radium-226 and radium-228 as a byproduct of uranium and thorium process streams in its existing uranium mines.
Heavy Mineral Sands
The HMS segment engages in the exploration, development and recovery of HMS at the Kwale Project, Bahia Project, Toliara Project and the Company's equity method investment in the Donald Project JV. The Company recovers ilmenite, rutile, zircon and monazite.
Rare Earth Elements
The rare earth element segment is engaged in the Company's initiatives to progress towards full REE separation capabilities at the Mill to produce both “light” and “heavy” separated REE oxides in the coming years. The Company has been producing a mixed RE Carbonate from monazite at the Mill since 2021. During the year ended December 31, 2024, the Company completed the construction and commissioning of Phase 1 of the modification and enhancement of its infrastructure at the Mill.
Reportable Segments Financial Information
The summarized operating results of the Company's reportable segments are as follows:
Year Ended December 31, 2024
UraniumHeavy Mineral SandsRare Earth Elements
Unallocated(1)
Consolidated Total
Revenues$38,240 $39,874 $— $— $78,114 
Operating costs and expenses:
Costs applicable to revenues16,580 39,338 — — 55,918 
Exploration, development and processing(2)
7,232 2,628 4,319 — 14,179 
Standby(2)
6,520 — — — 6,520 
Accretion of asset retirement obligations1,253 815 — — 2,068 
Selling, general and administrative (excluding share-based compensation)12,733 10,995 7,459 — 31,187 
Share-based compensation2,660 1,196 1,558 — 5,414 
Transactions and integration related costs— — — 10,343 10,343 
Total operating costs and expenses46,978 54,972 13,336 10,343 125,629 
Operating loss$(8,738)$(15,098)$(13,336)$(10,343)$(47,515)
(1) Corporate expenses that are not directly attributable to the uranium, heavy mineral sands or rare earth elements segments and are evaluated on a consolidated basis.
(2)    Includes depreciation, depletion and amortization expense of $1.07 million, $1.85 million and $0.21 million related to the uranium, HMS and REE segments, respectively. Depreciation, depletion and amortization expense is included in the Exploration, development and processing and standby expense financial statement line items on the consolidated statement of operations and comprehensive income (loss).
Year Ended December 31, 2023
UraniumHeavy Mineral SandsRare Earth Elements
Unallocated(1)
Consolidated Total
Revenues$35,080 $— $2,848 $— $37,928 
Operating costs and expenses:
Costs applicable to revenues15,869 — 2,312 — 18,181 
Exploration, development and processing(2)
5,584 583 9,364 — 15,531 
Standby(2)
7,476 — — — 7,476 
Accretion of asset retirement obligations1,192 — — — 1,192 
Selling, general and administrative (excluding share-based compensation)12,899 2,590 7,801 — 23,290 
Share-based compensation2,562 514 1,549 — 4,625 
Total operating costs and expenses45,582 3,687 21,026 — 70,295 
Operating loss$(10,502)$(3,687)$(18,178)$— $(32,367)
(1) Corporate expenses that are not directly attributable to the uranium, heavy mineral sands or rare earth elements segments and are evaluated on a consolidated basis.
(2)    Includes depreciation, depletion and amortization expense of $1.95 million, $0.58 million and $0.22 million related to the uranium, HMS and REE segments, respectively. Depreciation, depletion and amortization expense is included in the Exploration, development and processing and standby expense financial statement line items on the consolidated statement of operations and comprehensive income (loss).
Year Ended December 31, 2022
UraniumHeavy Mineral SandsRare Earth Elements
Unallocated(1)
Consolidated Total
Revenues$10,393 $— $2,122 $— $12,515 
Operating costs and expenses:
Costs applicable to revenues3,769 — 4,075 — 7,844 
Exploration, development and processing(2)
6,543 — 2,803 — 9,346 
Standby(2)
13,221 — — — 13,221 
Accretion of asset retirement obligations1,556 — — — 1,556 
Selling, general and administrative (excluding share-based compensation)11,966 540 8,339 — 20,845 
Share-based compensation2,664 120 1,857 — 4,641 
Total operating costs and expenses39,719 660 17,074 — 57,453 
Operating loss$(29,326)$(660)$(14,952)$— $(44,938)
(1) Corporate expenses that are not directly attributable to the uranium, heavy mineral sands or rare earth elements segments and are evaluated on a consolidated basis.
(2)    Includes depreciation, depletion and amortization expense of $3.27 million related to the uranium segment. Depreciation, depletion and amortization expense is included in the Exploration, development and processing and standby expense financial statement line items on the consolidated statement of operations and comprehensive income (loss). No depreciation, depletion and amortization expense was recorded related to the HMS and REE segments.