MINERAL PROPERTIES AND PROPERTY, PLANT AND EQUIPMENT (Tables)

3 Months Ended

Mar. 31, 2025

Property, Plant and Equipment [Abstract]

Schedule of Summary of Mineral Properties

The following table is a summary of mineral properties:


	March 31, 2025		December 31, 2024
Toliara Project	$	159,092	$	153,510
Sheep Mountain	34,183		34,183
Bahia Project	32,613		32,613
Nichols Ranch ISR Project	25,974		25,974
Roca Honda	22,095		22,095
Pinyon Plain	9,338		9,338
Other	1,687		1,687
Total mineral properties	$	284,982	$	279,400
Less: accumulated depletion	(1,607)		(1,070)
Mineral properties, net	$	283,375	$	278,330

Schedule of Property, Plant and Equipment

The following table is a summary of property, plant and equipment, net:


	Estimated
	Useful Lives	March 31, 2025		December 31, 2024
Land	N/A	$	1,015	$	1,015
Plant facilities	12 - 15 years	65,068		63,537
Mining equipment(1)	5 - 10 years	25,408		22,187
Light trucks and utility vehicles	5 years	4,025		4,081
Office furniture and equipment	4 - 7 years	1,936		1,918


Construction-in-progress	N/A	1,961		3,187
Total property, plant and equipment		$	99,413	$	95,925
Less: accumulated depreciation		(42,382)		(40,738)
Property, plant and equipment, net		$	57,031	$	55,187

(1) Costs incurred for commissioning activities for the Company’s Phase 1 REE separation circuit at the Mill were capitalized. The Company offsets these costs upon sale of separated NdPr that is produced during commissioning of the Phase 1 REE separation circuit. During the three months ended March 31, 2025, the Company offset $0.04 million related to the sale of NdPr.