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Segment Reporting (Tables)

6 Months Ended

Jun. 30, 2025

Segment Reporting [Abstract]

Schedule of Segment Reporting Information, by Segment

The summarized operating results of the Company’s reportable segments are as follows:

						Three Months Ended June 30, 2025
												Rare												Heavy
												Earth												Mineral						Consolidated
						Uranium						Elements												Sands						Total
Revenues						$	3,934					$	—											$	278					$	4,212
Operating costs and expenses:
Costs applicable to revenues						2,659						—												996						3,655
Exploration, development and processing (excluding share-based compensation)(1)						4,729						1,017												3,329						9,075
Standby(1)						1,780						—												—						1,780
Accretion of asset retirement obligations						356						—												506						862
Selling, general and administrative (excluding share-based compensation)						2,534						3,061												6,535						12,130
Share-based compensation						520						564												1,801						2,885
Total operating costs and expenses						12,578						4,642												13,167						30,387
Operating loss						$	(8,644)					$	(4,642)											$	(12,889)					$	(26,175)

(1)    Includes depreciation, depletion and amortization expense of $0.79 million, $0.59 million and $0.05 million related to the uranium, REE and HMS segments, respectively. Depreciation, depletion and amortization expense is included in Exploration, development and processing and Standby on the unaudited Condensed Consolidated Statement of Operations and Comprehensive Loss.

						Three Months Ended June 30, 2024
												Rare						Heavy
												Earth						Mineral												Consolidated
						Uranium						Elements						Sands						Unallocated(1)						Total
Revenues						$	8,719					$	—					$	—					$	—					$	8,719
Operating costs and expenses:
Costs applicable to revenues						3,681						—						—						—						3,681
Exploration, development and processing (excluding share-based compensation)(2)						617						1,344						526						—						2,487
Standby(2)						1,663						—						—						—						1,663
Accretion of asset retirement obligations						313						—						—						—						313
Selling, general and administrative (excluding share-based compensation)						2,892						1,751						1,028						—						5,671
Share-based compensation						759						466						187						—						1,412
Transactions and integration related costs						—						—						—						2,536						2,536
Total operating costs and expenses						9,925						3,561						1,741						2,536						17,763
Operating loss						$	(1,206)					$	(3,561)					$	(1,741)					$	(2,536)					$	(9,044)

(1)    Corporate expenses that are not directly attributable to the uranium, REE or HMS segments and are evaluated on a consolidated basis.

(2)    Includes depreciation, depletion and amortization expense of $0.57 million, none and $0.06 million related to the uranium, REE and HMS segments, respectively. Depreciation, depletion and amortization expense is included in Exploration, development and processing and Standby on the unaudited Condensed Consolidated Statement of Operations and Comprehensive Loss.

						Six Months Ended June 30, 2025
												Rare						Heavy
												Earth						Mineral												Consolidated
						Uranium						Elements						Sands						Unallocated(1)						Total
Revenues						$	5,289					$	—					$	15,821					$	—					$	21,110
Operating costs and expenses:
Costs applicable to revenues						2,659						—						19,120						—						21,779
Exploration, development and processing (excluding share-based compensation)(2)						9,925						1,017						4,579						—						15,521
Standby(2)						3,647						—						—						—						3,647
Accretion of asset retirement obligations						702						—						1,233						—						1,935
Selling, general and administrative (excluding share-based compensation)						7,193						6,172						11,741						—						25,106
Share-based compensation						1,408						1,067						3,015						—						5,490
Total operating costs and expenses						25,534						8,256						39,688						—						73,478
Operating loss						$	(20,245)					$	(8,256)					$	(23,867)					$	—					$	(52,368)

(1)     Corporate expenses that are not directly attributable to the uranium, REE or HMS segments and are evaluated on a consolidated basis.

(2)    Includes depreciation, depletion and amortization expense of $1.41 million, $1.10 million and $0.10 million related to the uranium, REE and HMS segments, respectively. Depreciation, depletion and amortization expense is included in Exploration, development and processing and Standby on the unaudited Condensed Consolidated Statement of Operations and Comprehensive Loss.

						Six Months Ended June 30, 2024
												Rare						Heavy
												Earth						Mineral												Consolidated
						Uranium						Elements						Sands						Unallocated(1)						Total
Revenues						$	34,145					$	—					$	—					$	—					$	34,145
Operating costs and expenses:
Costs applicable to revenues						14,733						—						—						—						14,733
Exploration, development and processing(2) (excluding share-based compensation)						957						3,406						929						—						5,292
Standby(2)						2,996						—						—						—						2,996
Accretion of asset retirement obligations						589						—						—						—						589
Selling, general and administrative (excluding share-based compensation)						6,093						3,388						2,035						—						11,516
Share-based compensation						1,518						856						383						—						2,757
Transactions and integration related costs						—						—						—						3,285						3,285
Total operating costs and expenses						26,886						7,650						3,347						3,285						41,168
Operating income (loss)						$	7,259					$	(7,650)					$	(3,347)					$	(3,285)					$	(7,023)

(1)     Corporate expenses that are not directly attributable to the uranium, REE or HMS segments and are evaluated on a consolidated basis.

(2)    Includes depreciation, depletion and amortization expense of $1.12 million, $0.08 million and $0.10 million related to the uranium, REE and HMS segments, respectively. Depreciation, depletion and amortization expense is included in Exploration, development and processing and Standby on the unaudited Condensed Consolidated Statement of Operations and Comprehensive Loss.

X

- Definition

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 25
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-25

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-22

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-30

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X

- References

No definition available.

+ Details

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