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Segment Reporting (Tables) | 9 Months Ended
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Sep. 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 September 30, 2025
|  |  |  | Rare |  |  |  | Heavy |  |
|  |  |  | Earth |  |  |  | Mineral |  | Consolidated
|  | Uranium |  | Elements |  |  |  | Sands |  | Total
Revenues |  | $ | 17,710 |  |  | $ | — |  |  |  |  | $ | — |  |  | $ | 17,710 |
Operating costs and expenses: |  |  |  |  |  |  |  |  |  |
Costs applicable to revenues |  | 12,784 |  |  | — |  |  |  |  | — |  |  | 12,784 |
Exploration, development and processing (excluding share-based compensation)(1) |  | 7,406 |  |  | 880 |  |  |  |  | 4,160 |  |  | 12,446 |
Standby(1) |  | 2,525 |  |  | — |  |  |  |  | — |  |  | 2,525 |
Accretion of asset retirement obligations |  | 364 |  |  | — |  |  |  |  | 323 |  |  | 687 |
Selling, general and administrative (excluding share-based compensation) |  | 2,591 |  |  | 3,333 |  |  |  |  | 6,710 |  |  | 12,634 |
Share-based compensation |  | 800 |  |  | 823 |  |  |  |  | 1,677 |  |  | 3,300 |
Total operating costs and expenses |  | 26,470 |  |  | 5,036 |  |  |  |  | 12,870 |  |  | 44,376 |
Operating loss |  | $ | (8,760) |  |  | $ | (5,036) |  |  |  |  | $ | (12,870) |  |  | $ | (26,666) |
(1) Includes depreciation, depletion and amortization expense of $0.72 million, $0.62 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 September 30, 2024
|  |  |  | Rare |  | Heavy |  |  |  |
|  |  |  | Earth |  | Mineral |  |  |  | Consolidated
|  | Uranium |  | Elements |  | Sands |  | Unallocated(1) |  | Total
Revenues |  | $ | 4,047 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 4,047 |
Operating costs and expenses: |  |  |  |  |  |  |  |  |  |
Costs applicable to revenues |  | 1,847 |  |  | — |  |  | — |  |  | — |  |  | 1,847 |
Exploration, development and processing (excluding share-based compensation)(2) |  | 2,097 |  |  | 915 |  |  | 607 |  |  | — |  |  | 3,619 |
Standby(2) |  | 1,645 |  |  | — |  |  | — |  |  | — |  |  | 1,645 |
Accretion of asset retirement obligations |  | 327 |  |  | — |  |  | — |  |  | — |  |  | 327 |
Selling, general and administrative (excluding share-based compensation) |  | 3,156 |  |  | 1,962 |  |  | 915 |  |  | — |  |  | 6,033 |
Share-based compensation |  | 545 |  |  | 340 |  |  | 142 |  |  | — |  |  | 1,027 |
Transactions and integration related costs |  | — |  |  | — |  |  | — |  |  | 1,462 |  |  | 1,462 |
Total operating costs and expenses |  | 9,617 |  |  | 3,217 |  |  | 1,664 |  |  | 1,462 |  |  | 15,960 |
Operating loss |  | $ | (5,570) |  |  | $ | (3,217) |  |  | $ | (1,664) |  |  | $ | (1,462) |  |  | $ | (11,913) |
(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 $0.61 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.
|  | Nine Months Ended September 30, 2025
|  |  |  | Rare |  | Heavy |  |
|  |  |  | Earth |  | Mineral |  | Consolidated
|  | Uranium |  | Elements |  | Sands |  | Total
Revenues |  | $ | 22,999 |  |  | $ | — |  |  | $ | 15,821 |  |  | $ | 38,820 |
Operating costs and expenses: |  |  |  |  |  |  |  |
Costs applicable to revenues |  | 15,443 |  |  | — |  |  | 19,120 |  |  | 34,563 |
Exploration, development and processing (excluding share-based compensation)(1) |  | 17,331 |  |  | 1,897 |  |  | 8,739 |  |  | 27,967 |
Standby(1) |  | 6,172 |  |  | — |  |  | — |  |  | 6,172 |
Accretion of asset retirement obligations |  | 1,066 |  |  | — |  |  | 1,556 |  |  | 2,622 |
Selling, general and administrative (excluding share-based compensation) |  | 9,785 |  |  | 9,504 |  |  | 18,451 |  |  | 37,740 |
Share-based compensation |  | 2,207 |  |  | 1,891 |  |  | 4,692 |  |  | 8,790 |
Total operating costs and expenses |  | 52,004 |  |  | 13,292 |  |  | 52,558 |  |  | 117,854 |
Operating loss |  | $ | (29,005) |  |  | $ | (13,292) |  |  | $ | (36,737) |  |  | $ | (79,034) |
(1) Includes depreciation, depletion and amortization expense of $2.13 million, $1.72 million and $0.15 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.
|  | Nine Months Ended September 30, 2024
|  |  |  | Rare |  | Heavy |  |  |  |
|  |  |  | Earth |  | Mineral |  |  |  | Consolidated
|  | Uranium |  | Elements |  | Sands |  | Unallocated(1) |  | Total
Revenues |  | $ | 38,192 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 38,192 |
Operating costs and expenses: |  |  |  |  |  |  |  |  |  |
Costs applicable to revenues |  | 16,580 |  |  | — |  |  | — |  |  | — |  |  | 16,580 |
Exploration, development and processing (excluding share-based compensation)(2) |  | 3,054 |  |  | 4,320 |  |  | 1,537 |  |  | — |  |  | 8,911 |
Standby(2) |  | 4,641 |  |  | — |  |  | — |  |  | — |  |  | 4,641 |
Accretion of asset retirement obligations |  | 916 |  |  | — |  |  | — |  |  | — |  |  | 916 |
Selling, general and administrative (excluding share-based compensation) |  | 9,251 |  |  | 5,348 |  |  | 2,950 |  |  | — |  |  | 17,549 |
Share-based compensation |  | 2,063 |  |  | 1,196 |  |  | 525 |  |  | — |  |  | 3,784 |
Transactions and integration related costs |  | — |  |  | — |  |  | — |  |  | 4,747 |  |  | 4,747 |
Total operating costs and expenses |  | 36,505 |  |  | 10,864 |  |  | 5,012 |  |  | 4,747 |  |  | 57,128 |
Operating income (loss) |  | $ | 1,687 |  |  | $ | (10,864) |  |  | $ | (5,012) |  |  | $ | (4,747) |  |  | $ | (18,936) |
(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 $1.72 million, $0.07 million and $0.16 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.

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- 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 + Details
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