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ASSET RETIREMENT OBLIGATIONS AND RESTRICTED CASH

6 Months Ended

Jun. 30, 2026

Asset Retirement Obligation Disclosure [Abstract]

Asset Retirement Obligations and Restricted Cash

ASSET RETIREMENT OBLIGATIONS AND RESTRICTED CASH

Asset Retirement Obligations

The following table summarizes the Company’s asset retirement obligations (“AROs”):

Asset retirement obligations, December 31, 2025			$	22,195
Accretion(1)			4,308
Settlements(2)			(2,972)
Asset retirement obligations, June 30, 2026			$	23,531

(1)    Includes a revision for a portion of the Kwale Project asset retirement obligation as reclamation neared completion and the timing of remaining monitoring and end-of-life expenditures was reassessed, resulting in an accelerated accretion charge of $3.10 million during the three and six months ended June 30, 2026.

(2)    Cash paid to settle AROs for reclamation activities completed at the Kwale Project.

The Company’s AROs are subject to legal and regulatory requirements. The Company periodically reviews its estimates for reclamation costs and the applicable regulatory authorities.

Restricted Cash

The Company has cash, cash equivalents and fixed income securities as collateral for various bonds posted in favor of the applicable state regulatory agencies in Arizona, Colorado, New Mexico, Utah, Wyoming, the U.S. Bureau of Land Management, the U.S. Forest Service and applicable national regulatory agency in Kenya, for estimated reclamation costs associated with the White Mesa Mill, Nichols Ranch and other mining properties. The restricted cash is expected to be released when the Company has either reclaimed a mineral property or the Mill, sold a mineral property or the Mill to a party that has assumed the applicable bond requirements, or restructured the related surety and collateral arrangements. As these events are not expected to occur within the next 12 months, the restricted cash has been classified as non-current. See Note 15 — Commitments and Contingencies for more information.

The following table summarizes the Company’s restricted cash:

Restricted cash, December 31, 2025									$	22,468
Additional collateral posted									378
Restricted cash, June 30, 2026									$	22,846

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- References

No definition available.

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- Definition

The entire disclosure for an asset retirement obligation and the associated long-lived asset. An asset retirement obligation is a legal obligation associated with the disposal or retirement from service of a tangible long-lived asset that results from the acquisition, construction or development, or the normal operations of a long-lived asset, except for certain obligations of lessees.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 410
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481850/410-20-50-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 410
-SubTopic 20
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/410-20/tableOfContent

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-SubTopic 20
-Topic 410
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481850/410-20-50-2

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