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PROPERTY, PLANT AND EQUIPMENT | 9 Months Ended
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Sep. 30, 2013
PROPERTY, PLANT AND EQUIPMENT |
PROPERTY, PLANT AND EQUIPMENT | 4. PROPERTY, PLANT AND EQUIPMENT
|  | Property, Plant and |
|  | Equipment Balances (net) at |
|  | 9/30/2013 |  | 12/31/2012 |
Uranium plant |  | $ | 10,832,000 |  | $ | 10,913,000 |
Permits and licenses |  | 4,284,000 |  | 3,902,000 |
Mineral rights |  | 3,486,000 |  | 3,873,000 |
Value beyond proven and probable reserves (VBPP) |  | 20,274,000 |  | 20,274,000 |
Evaluation and delineation |  | 2,460,000 |  | 2,460,000 |
Vehicles, depreciable equipment, and other |  | 1,604,000 |  | 1,893,000 |
Well field development |  | 153,000 |  | 153,000 |
Other uranium properties |  | 225,000 |  | 246,000 |
Total |  | $ | 43,318,000 |  | $ | 43,714,000 |
Impairment of Uranium Properties The Company shut-in production at certain of its South Texas properties in 2009. The Company reviews the estimated cost of restoration and remediation activities on these particular mineral properties at each quarter end. For any increase in estimated cost, the Company initially records the change on its balance sheet by increasing the mineral property asset and increasing the asset retirement obligation in accordance with U.S. generally accepted accounting principles (ASC 410-20-35-8). However, because there is no further production expected from these particular South Texas properties, the increase in costs recorded to the mineral property asset are then expensed (or credited) as impairment expense on the statement of operations. The Company also routinely evaluates projects included in its mineral property portfolio for a determination of ongoing investment. As a result of such review during the quarter ended September 30, 2013, the Company has determined certain of its properties will be abandoned and has written-off costs of $376,000 for certain New Mexico properties and $390,000 for certain Texas properties. For the nine months ended September 30, 2013 and 2012, as a result of the accounting procedure described above, and the write-offs described above, the Company recorded impairment costs in the amount of approximately $1,449,000 and $1,048,000, respectively. The impairment provision for the three months ended September 30, 2013 was $770,000, compared to $297,000 for the corresponding period in 2012.

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- Definition The entire disclosure for long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software. This disclosure may include property plant and equipment accounting policies and methodology, a schedule of property, plant and equipment gross, additions, deletions, transfers and other changes, depreciation, depletion and amortization expense, net, accumulated depreciation, depletion and amortization expense and useful lives, income statement disclosures, assets held for sale and public utility disclosures. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Principles Board Opinion (APB) -Number 12 -Paragraph 5 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6391035&loc=d3e2868-110229 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6391110&loc=d3e2921-110230 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6360339&loc=d3e1361-107760 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.13-14) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 + Details
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