0001213900-16-016063.txt : 20160815 0001213900-16-016063.hdr.sgml : 20160815 20160815170603 ACCESSION NUMBER: 0001213900-16-016063 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 56 CONFORMED PERIOD OF REPORT: 20160630 FILED AS OF DATE: 20160815 DATE AS OF CHANGE: 20160815 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Western Uranium Corp CENTRAL INDEX KEY: 0001621906 STANDARD INDUSTRIAL CLASSIFICATION: MISCELLANEOUS METAL ORES [1090] IRS NUMBER: 000000000 STATE OF INCORPORATION: A6 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 10-Q SEC ACT: 1934 Act SEC FILE NUMBER: 000-55626 FILM NUMBER: 161833777 BUSINESS ADDRESS: STREET 1: 700 - 10 KING STREET EAST CITY: TORONTO STATE: A6 ZIP: M5C 1C3 BUSINESS PHONE: 416-564-2870 MAIL ADDRESS: STREET 1: 700 - 10 KING STREET EAST CITY: TORONTO STATE: A6 ZIP: M5C 1C3 FORMER COMPANY: FORMER CONFORMED NAME: HOMELAND URANIUM INC. DATE OF NAME CHANGE: 20141009 10-Q 1 f10q0616_westernuranium.htm QUARTERLY REPORT

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

 

 

 

FORM 10-Q

 

(Mark One)

 

☒   QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

 

For the quarterly period ended June 30, 2016

 

☐   TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

 

For the transition period from ______________to ______________

 

Commission File Number 000-55626

 

WESTERN URANIUM CORPORATION

(Exact Name of Registrant as Specified in Its Charter)

 

Ontario, Canada   98-1271843
(State or Other Jurisdiction of
Incorporation or Organization)
 

(I.R.S. Employer
Identification Number)

 

700-10 King Street East

Toronto, Ontario, Canada

  M5C 1C3
(Address of Principal Executive Offices)   (Zip Code)

 

(416) 564-2870

 

(Registrant’s Telephone Number, Including Area Code)

 

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirement for the past 90 days. Yes ☒   No ☐

 

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). Yes ☒   No ☐

 

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer or a smaller reporting company. See the definitions of “large accelerated filer,” “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act.

 

Large accelerated filer  ☐ Accelerated filer                    ☐
Non-accelerated filer    ☐ Smaller reporting company   ☒
(Do not check if a smaller reporting company)  

 

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐   No  ☒

 

As of August 12, 2016, 16,797,089 of the registrant’s no par value common shares were outstanding.

 

 

 

 

 

WESTERN URANIUM CORPORATION

FORM 10-Q FOR THE THREE AND SIX MONTHS ENDED JUNE 30, 2016

 

TABLE OF CONTENTS

 

PART I – FINANCIAL INFORMATION 1
   
Item 1.     Financial Statements 1
Condensed Consolidated Balance Sheets (Unaudited) 1
Condensed Consolidated Statements of Operations and Other Comprehensive Loss (Unaudited) 2
Condensed Consolidated Statements of Stockholders’ Equity (Unaudited) 3
Condensed Consolidated Statements of Cash Flows (Unaudited) 4
Notes to the Condensed Consolidated Financial Statements (Unaudited) 5
Item 2.    Management’s Discussion and Analysis of Financial Condition and Results of Operations 13
   
PART II – OTHER INFORMATION 22
   
Item 1.      Legal Proceedings 22
Item 1A.   Risk Factors 22
Item 4.      Mine Safety Disclosures 22
Item 6.      Exhibits 22
 
SIGNATURES 23

 

 

 

PART I – FINANCIAL INFORMATION

 

Item 1. Financial Statements

 

WESTERN URANIUM CORPORATION

CONDENSED CONSOLIDATED BALANCE SHEETS

(Stated in $USD)

 

   As of 
   June 30,   December 31, 
   2016   2015 
   (unaudited)     
Assets        
Current assets:        
Cash  $22,163   $214,482 
Prepaid expenses   37,164    119,656 
Marketable securities   3,076    2,880 
Restricted cash, current portion   215,976    - 
Other current assets   29,727    15,774 
Total current assets   308,106    352,792 
           
Land, buildings and improvements   -    1,050,810 
Restricted cash, net of current portion   820,310    1,036,286 
Mineral properties   11,645,218    11,645,218 
Ablation intellectual property   9,488,051    9,488,051 
           
Total assets  $22,261,685   $23,573,157 
           
Liabilities and Shareholders' Equity          
           
Liabilities          
Current liabilities:          
Accounts payable and accrued liabilities  $845,709   $825,101 
Mortgage payable   -    1,051,000 
Deferred contingent consideration   372,000    500,000 
Subscription payable   -    198,298 
Current portion of reclamation liability   215,976    - 
Current portion of notes payable   539,440    490,193 
Total current liabilities   1,973,125    3,064,592 
           
Reclamation liability, net of current portion   184,567    220,129 
Deferred tax liability   4,063,330    4,063,330 
Notes payable, net of discount and  current portion   459,033    449,984 
           
Total liabilities   6,680,055    7,798,035 
           
Shareholders' Equity          
Common stock, no par value, unlimited authorized shares, 16,797,089 and 16,230,733
shares issued and outstanding at June 30, 2016 and December 31, 2015, respectively
 
 
 
 
 
18,496,750
 
 
 
 
 
 
 
17,658,042
 
 
Accumulated deficit   (2,929,980)   (1,951,564)
Accumulated other comprehensive income   14,860    68,644 
Total shareholders' equity   15,581,630    15,775,122 
Total liabilities and shareholders' equity  $22,261,685   $23,573,157 

 

The accompanying notes are an integral part of these condensed consolidated financial statements.

 

 1 

 

 

WESTERN URANIUM CORPORATION

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND OTHER COMPREHENSIVE LOSS

(Stated in $USD)

(unaudited)

 

   For the Three
Months Ended
June 30,
   For the Six
Months Ended
June 30,
 
   2016   2015   2016   2015 
Expenses                
Mining expenditures  $118,737   $49,020   $212,087   $90,700 
Professional fees   290,985    124,534    326,092    200,766 
General and administrative   137,846    88,535    174,103    118,221 
Consulting fees   113,999    33,016    156,869    75,738 
Unrealized foreign exchange gain   (128,000)   -    (128,000)   - 
Loss from operations   (533,567)   (295,105)   (741,151)   (485,425)
                     
Accretion and interest expense   217,185    31,756    237,265    45,076 
                     
Net loss   (750,752)   (326,861)   (978,416)   (530,501)
                     
Other comprehensive loss                    
Foreign exchange (loss) gain   (22,528)   6,694    (53,784)   (1,997)
                     
Comprehensive Loss  $(773,280)  $(320,167)  $(1,032,200)  $(532,498)
                     
Loss per share - basic and diluted  $(0.05)  $(0.03)  $(0.06)  $(0.04)
                     
Weighted average shares outstanding, basic and diluted   16,621,904    11,916,703    16,474,603    12,036,924 

  

The accompanying notes are an integral part of these condensed consolidated financial statements.

 

 2 

 

 

WESTERN URANIUM CORPORATION

CONDENSED CONSOLIDATED STATEMENTS OF  SHAREHOLDERS' EQUITY

(Stated in $USD)

(unaudited)

 

   Common Shares   Accumulated   Accumulated
Comprehensive
Other
     
   Shares   Amount   Deficit   Income   Total 
                     
Balance at January 1, 2016   16,230,733   $17,658,042   $(1,951,564)  $68,644   $15,775,122 
Issuance of 101,009 shares of common stock   101,009    216,534    -    -    216,534 
Issuance of 465,347 shares of common stock   465,347    622,174    -    -    622,174 
Foreign exchange loss   -    -    -    (53,784)   (53,784)
Net loss   -    -    (978,416)   -    (978,416)
                          
Balance at June 30, 2016   16,797,089   $18,496,750   $(2,929,980)  $14,860   $15,581,630 

 

The accompanying notes are an integral part of these condensed consolidated financial statements.

 

 3 

 

 

WESTERN URANIUM CORPORATION

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(Stated in $USD)

(unaudited)

 

   For the Six Months Ended
June 30,
 
   2016   2015 
Cash Flows From Operating Activities:        
Net loss  $(978,416)  $(530,501)
Reconciliation of net loss to cash used in operating activities:          
Accretion of reclamation liability   180,414    25,634 
Amortization of debt discount on notes payable   58,296    18,536 
Change in foreign exchange on marketable securities   (196)   - 
Change in operating assets and liabilities:          
Accounts receivable   -    (22,916)
Prepaid expenses and other current assets   68,539    47,428 
Restricted cash   -    (144)
Deferred contingent consideration   (128,000)     
Accounts payable and accrued liabilities   20,418    (8,794)
Net cash used in operating activities   (778,945)   (470,757)
Cash Flows From Investing Activities:          
Purchase of property and equipment   -    (21,810)
Advance on Credit Facility to Black Range   -    (316,349)
Net cash used in investing activities   -    (338,159)
Cash Flows From Financing Activities:          
Payment of Nueco Note   -    (253,346)
Payment of Siebels Note   (100,000)   - 
Proceeds from the sale of common stock in private placements, net of offering costs    640,410    1,353,793 
Proceeds from Siebels Note   100,000    - 
Net cash provided by financing activities   640,410    1,100,447 
Effect of foreign exchange rate on cash   (53,784)   (1,997)
Net (decrease) increase in cash   (192,319)   289,534 
Cash - beginning   214,482    172,909 
           
Cash - ending  $22,163   $462,443 
Supplemental disclosure of cash flow information:          
Cash paid during the period for:          
Interest  $3,000   $- 
           
Non-cash financing activities:          
Shares issued from subscription payable  $198,298   $- 
           
Exchange of mortgage payable for land & buildings  $1,051,000   $- 

 

The accompanying notes are an integral part of these condensed consolidated financial statements.

 

 4 

 

 

WESTERN URANIUM CORPORATION

NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(Stated in $USD)

Unaudited

 

NOTE 1 - BUSINESS

 

Nature of operations

  

Western Uranium Corporation ("Western” or the “Company") was incorporated in December 2006 under the Ontario Business Corporations Act. On November 20, 2014, the Company completed a listing process on the Canadian Securities Exchange ("CSE"). As part of that process, the Company acquired 100% of the members' interests of Pinon Ridge Mining LLC ("PRM"), a Delaware limited liability company. The transaction constituted a reverse takeover ("RTO") of Western by PRM. Subsequent to obtaining appropriate shareholder approvals, the Company reconstituted its Board of Directors and senior management team. Effective September 16, 2015, Western completed its acquisition of Black Range Minerals Limited (“Black Range”).

 

The Company has registered offices at 10 King Street East, Suite 700, Toronto, Ontario, Canada, M5C 1C3 and its common shares are listed on the CSE under the symbol "WUC." On April 22, 2016, the Company’s shares of common stock began trading on the OTC Pink, and on May 23, 2016, the Company’s shares of common stock was approved for the commencement of trading on the OTCQX Best Market. Its principal business activity is the acquisition and development of uranium resource properties in the states of Utah and Colorado in the United States of America ("USA").

 

On June 28, 2016, the Company’s registration statement became effective and Western became a U.S. reporting issuer. Thereafter, the Company was approved for DTC eligibility through the Depository Trust and Clearing Corporation (DTCC), which facilitates electronic book – entry delivery, settlement and depository services for shares in the U.S.

 

Note 2 - Liquidity and going concern

 

The Company has incurred continuing losses from its operations and as of June 30, 2016 the Company has an accumulated deficit of $2,929,980 and a working capital deficit of $1,665,019.

 

Since inception, the Company has met its liquidity requirements principally through the issuance of notes and the sale of its shares of common stock.

 

The Company’s ability to continue its operations and to pay its obligations when they become due is contingent upon the Company obtaining additional financing. Management’s plans include seeking to procure additional funds through debt and equity financings and to initiate the processing of ore to generate operating cash flows.

 

There are no assurances that the Company will be able to raise capital on terms acceptable to the Company or at all, or that cash flows generated from its operations will be sufficient to meet its current operating costs and required debt service. If the Company is unable to obtain sufficient amounts of additional capital, it may be required to reduce the scope of its planned product development, which could harm its financial condition and operating results, or it may not be able to continue to fund its ongoing operations. These conditions raise substantial doubt about the Company’s ability to continue as a going concern. These financial statements do not include any adjustments that might result from the outcome of these uncertainties.

 

Pursuant to the Company’s capital raising objectives, during April and May 2016 the Company raised CAD $791,090 (US $622,174) in a private placement (see note 10).

 

On June 29, 2016 the Company announced a private placement for the issuance of up to 1,909,855 units at CAD $1.70 per unit for total gross proceeds of USD up to $2,500,000. Each unit shall consist of one common share of the Company and one warrant at an exercise price of CAD $2.80 which expire five years after the date of issuance. The Company intends to use this capital raise to pay the costs of the acquisition of Black Range, to fund the development of the Company’s ablation technology, to fund mine production preparation, to pay down certain of the Company’s notes payable, and for working capital purposes (see note 13).

 

 5 

 

 

WESTERN URANIUM CORPORATION

NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(Stated in $USD)

Unaudited

 

Note 3 – SUMMARY OF Significant Accounting Policies

 

Basis of Presentation and Principles of Consolidation

 

The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (“U.S. GAAP”) for interim financial information and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. In the opinion of management, all adjustments (consisting of normal accruals) considered for a fair presentation have been included. Operating results for the three and six months ended June 30, 2016 are not necessarily indicative of the results that may be expected for the year ending December 31, 2016. These condensed financial statements should be read in conjunction with the consolidated financial statements for the year ended December 31, 2015 and related notes thereto which were included in the Company’s form 10-12G filed with the Securities and Exchange Commission on July 22, 2016.

 

The accompanying unaudited condensed consolidated financial statements include the accounts of Western and its wholly-owned subsidiaries, Western Uranium Corp., Pinon Ridge Mining LLC, Black Range Minerals Limited, Black Range Copper Inc., Ranger Resources Inc., Black Range Minerals Inc., Black Range Minerals Colorado LLC, Black Range Minerals Wyoming LLC, Haggerty Resources LLC, Ranger Alaska LLC, Black Range Minerals Utah LLC, Black Range Minerals Ablation Holdings Inc. and Black Range Development Utah LLC. All significant inter-company transactions and balances have been eliminated upon consolidation.

 

Use of Estimates

 

The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amount of assets and liabilities at the date of the financial statements and revenues and expenses during the period reported. By their nature, these estimates are subject to measurement uncertainty and the effect on the financial statements of changes in such estimates in future periods could be significant. Significant areas requiring management's estimates and assumptions include determining the fair value of transactions involving shares of common stock, assessment of the useful life and evaluation for impairment of intangible assets, valuation and impairment assessments on mineral properties, deferred contingent consideration, the reclamation liability, valuation of stock-based compensation, valuation of available-for-sale securities and valuation of long-term debt and asset retirement obligations. Other areas requiring estimates include allocations of expenditures, depletion and amortization of mineral rights and properties. Actual results could differ from those estimates.

 

Foreign Currency Translation

 

The reporting currency of the Company, including its subsidiaries, is the United States dollar. The financial statements of subsidiaries located outside of the U.S. are measured in their functional currency, which is the local currency. The functional currency of the parent is the Canadian dollar. Monetary assets and liabilities of these subsidiaries are translated at the exchange rates at the balance sheet date. Income and expense items are translated using average monthly exchange rates. Non-monetary assets are translated at their historical exchange rates. Translation adjustments are included in accumulated other comprehensive loss in the condensed consolidated balance sheets.

 

 6 

 

 

WESTERN URANIUM CORPORATION

NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(Stated in $USD)

Unaudited

 

NOTE 3 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, CONTINUED

 

Fair Values of Financial Instruments

 

The fair value of financial instruments in the Company’s consolidated financial statements at June 30, 2016 and December 31, 2015 are as follows:

 

   Quoted Prices in
Active Markets
for Identical
Assets or
Liabilities
(Level 1)
   Quoted Prices
for Similar
Assets or
Liabilities in
Active Markets
(Level 2)
   Significant
Unobservable
Inputs
(Level 3)
 
Marketable securities at June 30, 2016  $3,076   $   -   $   - 
                
Marketable securities at December 31, 2015  $2,880   $   -   $   - 

 

Loss per Share

 

Basic net loss per share is computed by dividing net loss by the weighted average number of shares of common stock outstanding during the period. Diluted earnings per share is computed using the weighted average number of common shares and, if dilutive, potential common shares outstanding during the period. Potential common shares consist of the incremental common shares issuable upon the exercise of stock options and warrants (using the treasury stock method). The computation of basic loss per share for the three and six month periods ended June 30, 2016 and 2015 excludes potentially dilutive securities. The computations of net loss per share for each period presented is the same for both basic and fully diluted.

 

Potentially dilutive securities outlined in the table below have been excluded from the computation of diluted net loss per share because the effect of their inclusion would have been anti-dilutive.

 

   For the Three and Six
Months Ended
June 30,
 
   2016   2015 
Warrants to purchase shares of common stock   566,356    - 
Options to purchase shares of common stock   271,996    - 
Total potentially dilutive securities   838,352    - 

 

Note 4 – RECENT ACCOUNTING PRONOUNCEMENTS

 

On February 25, 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2016-02, Leases (Topic 842). This update will require organizations that lease assets to recognize on the balance sheet the assets and liabilities for the rights and obligations created by those leases. The new guidance will also require additional disclosures about the amount, timing and uncertainty of cash flows arising from leases. The provisions of this update are effective for annual and interim periods beginning after December 15, 2018. The Company is currently evaluating the impact the adoption of this ASU will have on the Company’s financial position and results of operations.

 

On March 30, 2016, the FASB issued ASU No. 2016-09, “Compensation – Stock Compensation (Topic 718)”. This update requires that all excess tax benefits and tax deficiencies arising from share-based payment awards should be recognized as income tax expense or benefit on the income statement. The amendment also states that excess tax benefits should be classified along with other income tax cash flows as an operating activity. In addition, an entity can make an entity-wide accounting policy election to either estimate the number of awards expected to vest or account for forfeitures as they occur. The provisions of this update are effective for annual and interim periods beginning after December 15, 2016. The Company is currently evaluating the impact the adoption of this standard will have on its financial statements.

 

 7 

 

 

WESTERN URANIUM CORPORATION

NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(Stated in $USD)

Unaudited

 

Note 4 – RECENT ACCOUNTING PRONOUNCEMENTS, continued

 

In April 2016, the FASB issued ASU No. 2016-10 “Revenue from Contracts with Customers (Topic 606)”, “Identifying Performance Obligations and Licensing” (“ASU 2016-10”). ASU 2016-10 clarifies the following two aspects of Topic 606: identifying performance obligations and the licensing implementation guidance, while retaining the related principles for those areas. The provisions of this update are effective for annual and interim periods beginning after December 15, 2017, with early application permitted. The Company is currently evaluating the impact the adoption of this standard will have on its financial statements.

 

In May 2016, the FASB issued ASU No. 2016-12 “Revenue from Contracts with Customers (Topic 606)”, “Narrow-Scope Improvements and Practical Expedients” (“ASU 2016-12”). The core principal of ASU 2016-12 is the recognition of revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The provisions of this update are effective for annual and interim periods beginning after December 15, 2017, with early application permitted. The Company is currently evaluating the impact the adoption of this standard will have on its financial statements.

 

Note 5 - Mineral Assets, Ablation Intellectual Property and Other Property

 

On August 18, 2014, the Company purchased mining assets in an arm's length transaction. The mining assets include both owned and leased land in the states of Utah and Colorado. All of the mining assets represent properties which have previously been mined to different degrees for uranium. As some of the properties have not formally established proven or probable reserves, there may be greater inherent uncertainty as to whether or not any mineralized material can be economically extracted as originally planned and anticipated.

 

The Company’s mining properties acquired on August 18, 2014, include: San Rafael Uranium Project located in Emery County, Utah; The Sunday Mine Complex located in western San Miguel County, Colorado; The Van 4 Mine located in western Montrose County, Colorado; The Yellow Cat Project located in eastern Grand County, Utah; The Farmer Girl Mine project located in Montrose County, Colorado; The Sage Mine project located in San Juan County, Utah, and San Miguel County, Colorado.

 

On September 16, 2015, Western completed its acquisition of Black Range. In connection with the acquisition of Black Range, Western acquired the net assets of Black Range. These net assets consist principally of interests in a complex of uranium mines located in Colorado (the “Hansen-Taylor Complex”) and a 100% interest in a 25 year license for ablation mining technologies and related patents from Ablation Technologies, LLC. The Hansen-Taylor Complex is principally a sandstone-hosted deposit that was discovered in 1977. Ablation is a low cost, purely physical method of sorting uranium ore by applying a grain-size separation process to ore slurries.

 

The Company’s mining and mining related assets consist of the following:

 

   As of: 
   June 30,
2016
   December 31,
2015
 
Land, building and improvements  $-   $1,050,810 
Mineral properties   11,645,218    11,645,218 
Ablation intellectual property   9,488,051    9,488,051 

 

On May 26, 2016, the Company executed agreements with the mortgage holder whereby in an equal exchange the mortgage was exchanged for the land, building and improvements with which it was secured (see Note 8).

 

On June 1, 2016, Black Range entered into an agreement with Ferris-Haggarty Mining Corporation to transfer all available data, information, materials, reports, assay analysis, or other regarding the Ferris-Haggarty Copper Project in Carbon County, WY from 2006 through 2009. In exchange Black Range Minerals Inc. received 100,000 Common Class A Voting shares of Ferris-Haggarty Mining Corporation. The transaction is deemed to lack commercial substance because neither the fair value of the data relinquished nor the fair value of the shares are determinable within reasonable limits, given that there is no market for the data and that the Company does not have enough information to reliably determine a value for the shares. Since the exchange of data for shares of Ferris-Haggarty lacks commercial substance, the value of the exchange will be based on the recorded value of the asset relinquished (the data), which is $0.

 

 8 

 

 

WESTERN URANIUM CORPORATION

NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(Stated in $USD)

Unaudited

 

NOTE 6 - Accounts Payable and Accrued Liabilities

 

   As of
June 30,
  

As of December 31,

 
   2016   2015 
Trade accounts payable  $489,459   $520,530 
Accrued liabilities   356,250    304,571 
   $845,709   $825,101 

 

NOTE 7 - Notes Payable

 

On August 18, 2014, in connection with the purchase of the mining properties, the Company entered into a note payable with Energy Fuels Holding Corporation (“EFHC”) (the “EFHC Note”) for $500,000. The EFHC Note bears interest at a rate of 3.0% per annum and is secured by a first priority interest in certain of the Company’s mining assets. On the date of the purchase, the Company recorded the EFHC Note net of a discount for interest of $73,971 at a rate of 4% per annum, resulting in a total effective interest rate of 7% per annum. The discount is being amortized using the effective interest method over the life of the loan. All principal on the EFHC Note is due and payable on August 18, 2018 and interest on the EFHC Note is due and payable annually beginning August 18, 2015.

 

On August 18, 2014, also in connection with the purchase of the mining properties, the Company entered into a Note Assumption Agreement with EFHC and Nuclear Energy Corporation (“Nueco”), whereby the Company assumed all of the obligations of EFHC under its note payable with Nueco (the “Nueco Note”). The Nueco Note bears no stated interest rate and is secured by certain of the Company’s mining assets. On the date of the purchase, the Company recorded the Nueco Note net of a discount for interest of $23,724 at a rate of 7% per annum. The discount is being amortized using the effective interest method over the life of the loan. The Nueco payment due on December 20, 2014 in the amount of $250,180 was made on January 5, 2015 without penalty other than additional interest at 6% per annum. As of December 31, 2015, the Nueco Note had a remaining obligation outstanding of $250,180, the due date of which was extended to January 13, 2016. In connection with the extension, the Company agreed to add interest from the date of October 13, 2015 until the date paid at the annual rate of one percent (1%) per annum. On February 8, 2016, the Company and the lender agreed to further extend the maturity of the Nueco Note to June 2016. In consideration for the extension the Company increased the principal amount by 10% (or $25,384), increased the interest rate to 6% per annum and paid a $5,000 fee that did not reduce the interest or principal. On June 20, 2016, the Company further extended the maturity of the Nueco Note to July 31, 2016. In consideration for the extension, the Company paid a $5,000 fee that did not reduce the interest or principal on the Nueco Note. These amendments were accounted for as a note modification, whereby no gain or loss was recognized. On August 8, 2016, accrued interest was paid in the amount of $13,477. As of August 11, 2016, the Nueco Note is in default.

 

On September 30, 2015 the Company entered into a note payable (“Siebels Note”) with The Siebels Hard Asset Fund, Ltd. (“Siebels”) for $250,000, which was fully funded on October 14, 2015. The Siebels Note bears interest at a rate of 16.0% per annum and was to mature on December 15, 2015. On December 16, 2015 the Company and the lender agreed to extend the maturity of the Siebels Note until June 16, 2016. In consideration for the extension of the repayment, the accrued interest at the time of extension of $8,333 was reclassified to principal, bringing the principal of the Siebels Note to $258,423. Also in consideration for such extension the interest rate was increased to 18% per annum. These amendments were accounted for as a note modification, whereby no gain or loss was recognized. On July 29, 2016, a partial principal payment in the amount of $100,000 was made. As of August 11, 2016, the Siebels Note is in default.

 

 9 

 

 

WESTERN URANIUM CORPORATION

NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(Stated in $USD)

Unaudited

 

Note 7 - Notes Payable, continued

  

On February 22, 2016, the Company entered into a second note payable with Siebels for $100,000. The note bore interest at a rate of 18.0% per annum and matured on April 22, 2016. On April 28, 2016, the Company repaid this note in full.

 

Notes payable consisted of:

 

   As of June 30, 2016 
   Principal   Discount   Balance, Net
of Discount
   Current   Non-Current 
EFHC  $500,000   $40,967   $459,033   $-   $459,033 
Nueco   279,220    3,800    275,420    275,420    - 
Siebels   264,020    -    264,020    264,020    - 
Total  $1,043,240   $44,767   $998,473   $539,440   $459,033 

 

During the three months ended June 30, 2016 and 2015, the Company’s interest expense on notes payable was $39,273, and $31,756, respectively, including the amortization of debt discounts. Interest expense on notes payable for the six months ended June 30, 2016 and 2015 was $59,353 and $45,076, respectively.

 

   As of December 31, 2015 
   Principal   Discount   Balance, Net
of Discount
   Current   Non-Current 
EFHC  $500,000   $50,016   $449,984   $-   $449,984 
Nueco   250,180    -    250,180    250,180    - 
Siebels   240,013    -    240,013    240,013    - 
Total  $990,193   $50,016   $940,177   $490,193   $449,984 

 

NOTE 8 - Mortgage

 

In connection with the acquisition of Black Range, Western assumed a mortgage secured by land, building and improvements at 1450 North 7 Mile Road, Casper, Wyoming, with interest payable at 8.00% and payable in monthly payments of $11,085 with the final balance of $1,044,015 due as a balloon payment on January 16, 2016. The Company did not make the final balloon payment as scheduled. Subsequently, on May 26, 2016, the Company executed agreements with the mortgage holder whereby in an equal exchange the mortgage was exchanged for the land, building and improvements with which it was secured, and pursuant to which no future financial consideration is required.

 

 10 

 

 

WESTERN URANIUM CORPORATION

NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(Stated in $USD)

Unaudited

 

Note 9 - reclamation liability

 

The reclamation liabilities of the US mines are subject to legal and regulatory requirements, and estimates of the costs of reclamation are reviewed periodically by the applicable regulatory authorities. The reclamation liability represents the Company’s best estimate of the present value of future reclamation costs in connection with the mineral properties. The Company determined the gross reclamation liabilities at June 30, 2016 and December 31, 2015 of the mineral properties to be approximately $1,036,286 and $1,036,286, respectively. During the three months ended June 30, 2016 and 2015, the accretion of the reclamation liabilities was $178,474 and $23,634, respectively. During the six months ended June 30, 2016 and 2015, the accretion of the reclamation liabilities was $180,414 and $25,634, respectively. Except in regard to its Alaska coal mine property (as discussed below), The Company expects to begin incurring the reclamation liability after 2054 and accordingly, has discounted the gross liabilities over a thirty year life using a discount rate of 5.4% to a net discounted value as of June 30, 2016 and December 31, 2015 of $400,543 and $200,129, respectively. The gross reclamation liabilities as of June 30, 2016 are secured by certificates of deposit in the amount of $1,036,286. During the second quarter of 2016, the Company initiated actions to cancel its coal mining leases in Alaska. In connection therewith, the Company is currently evaluating the most effective manner in which to reclaim such mines. During the three months ended June 30, 2016, with the near-term prospects for reclamation, the Company adjusted the fair value of its reclamation obligation and for the Alaska mine, accreted $174,412 to bring its reclamation liability to fair value. The portion of the reclamation liability related to the Alaska mine, and its related restricted cash are included in current liabilities, and current assets, respectively, at a value of $215,976.

 

Note 10 - share capital and other equity instruments

  

Private Placements

  

On January 4, 2016, the Company completed a private placement raising gross proceeds of CAD $300,000 through the subscription for 101,009 common shares at a price of CAD $2.97 (US$2.14) per common share, and warrants to purchase aggregate of 101,009 common shares at an exercise price of CAD $3.50. This offering closed on December 31, 2015. Of the total amount received, CAD $275,000 (US$198,298) was received in December of 2015 while the remainder CAD $25,000 (US$18,236) was received in the three months ended March 31, 2016. The warrants are exercisable immediately upon issuance and expire five years from the date of issuance. As of December 31, 2015, the Company accounted for the proceeds of $198,298 as subscriptions payable.

 

During April 2016, the Company initiated a private placement offering for the sale of units of its securities for a price per unit of $1.70 (CAD) (US$1.34). Each unit consists of one share of the Company’s common stock and one warrant to purchase a share of common stock at $2.60 (CAD) per share, with a term of five years. During April and May 2016 the Company raised gross proceeds of CAD $791,090 (US$622,174) through the issuance of 465,347 units.

 

During the six months ended June 30, 2016, the Company issued 566,356 shares of common stock in connection with these private placements.

 

Stock Options

 

In connection with the acquisition of Black Range, the Board of Directors granted options for the purchase of 271,996 shares of the Company’s common stock to certain of the former directors, employees and consultants of Black Range. On the date of grant, these options were fully vested, had a weighted average exercise price of CAD $6.39 (US$4.91) and a weighted average remaining contractual life of 3.52 years and had a grant date fair value of $1.59 per share. As of June 30, 2016, these stock options had a remaining contractual life of 3.02 years and had no intrinsic value. These stock options became exercisable on January 17, 2016.

 

Warrants

 

As of June 30, 2016, there were warrants outstanding to purchase an aggregate of 566,356 shares of the Company’s common stock at an exercise price of CAD $2.76 (US$2.12) per share. These warrants have a weighted average remaining life of 4.79 years.

 

Note 11 - Mining Expenditures

 

  

For the Three
Months Ended
June 30,

   For the Six
Months Ended
June 30,
 
   2016   2015   2016   2015 
Permits  $67,188   $37,610   $116,374   $66,335 
Maintenance   43,824    11,410    81,678    24,365 
Contract Labor   3,975    -    6,535    - 
Royalties   3,750    -    7,500    - 
   $118,737   $49,020   $212,087   $90,700 

 

 11 

 

 

WESTERN URANIUM CORPORATION

NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(Stated in $USD)

Unaudited

 

NOTE 12 - Related Party Transactions (Including Key Management Compensation)

 

The Company has transacted with related parties pursuant to service arrangements in the ordinary course of business, as follows:

 

An entity controlled by a member of the Board of Directors earned consulting fees totaling $9,227 and $17,687 for the three months ended June 30, 2016 and 2015, respectively and $18,472 and $27,357 for the six months ended June 30, 2016 and 2015, respectively. The same director earned director fees totaling $1,538 and $1,601 during the three months ended June 30, 2016 and 2015, respectively and $3,079 and $6,258 for the six months ended June 30, 2016 and 2015, respectively. As of June 30, 2016 and December 31, 2015, the Company has $0 and $5,074, respectively, in accounts payable and accrued liabilities owing to this director.

 

Pursuant to a consulting agreement, a US limited liability company owned by a person who is a director and the Company’s CFO entered into a contract with the Company effective January 1, 2015 to provide financial and consulting services at an annual consultant fee of $100,000. The contract had a term of one year. On October 21, 2015, the Company entered into an additional agreement with this same company to provide additional services to the Company, for the term of October through December 2015 for a monthly fee of $6,500. On January 1, 2016, the Company entered into an agreement with a different US limited liability company owned by the same director to provide financial and other consulting services at $8,333 per month. During the three months ended June 30, 2016 and 2015, the Company incurred fees of $25,000 and $25,000, respectively, to these companies. During the six months ended June 30, 2016 and 2015, the Company incurred fees of $50,000 and $50,000, respectively, to these companies. At June 30, 2016 and December 31, 2015, the Company had $6,500 and $14,833, respectively, included in accounts payable and accrued liabilities payable to these companies.

 

In connection with the acquisition of Black Range on September 16, 2015, Western assumed an obligation in the amount of AUS $500,000 payable to Western’s CEO and director contingent upon the commercialization of the ablation technology.

 

As at June 30, 2016, the obligation of $372,000 is included in the condensed consolidated balance sheet. A gain of $128,000 on the translation of the obligation for the three and six months period ended June 30, 2016, was reflected within the “unrealized foreign exchange gain” in the statement of operations and comprehensive loss.

 

Pursuant to a consulting agreement, a US limited liability company owned by a person who is a director entered into a consulting contract with the Company effective April 1, 2016 to provide financial, advisory, and consulting services, including representing the Company to a variety of stakeholders for a six month term ending on September 30, 2016. The semi-annual consulting fee will be paid monthly and aggregate fees under the agreement are $105,000. Professional fees for the three and six months ended June 30, 2016 are $60,000 and $60,000, respectively, related to this agreement.

 

As of June 30, 2016 and December 31, 2015, the Company had $7,500 and $0, respectively, included in accounts payable and accrued expenses payable to this entity.

 

NOTE 13 - SUBSEQUENT EVENTS

 

Private Placements

 

On June 29, 2016 the Company announced a private placement for the issuance of up to 1,909,855 units at CAD $1.70 per unit for total gross proceeds of USD $2,500,000. Each unit shall consist of one common share of the Company and one warrant at an exercise price of CAD $2.80 which expire five years after the date of issuance. The Company intends to use this capital raise to pay the costs of the acquisition of Black Range, to fund the development of the Company’s ablation technology, to fund mine production preparation and for working capital purposes. As of August 12, 2016, the Company has received subscription agreements for the sale of 943,582 units and has received proceeds or broker settlement instructions for CAD $1,604,089 (approximately USD $1,240,699). The Company expects to close on the private placement as soon as practicable.

 

 12 

 

 

Item 2.     Management’s Discussion and Analysis of Financial Condition and Results of Operations

 

Forward-Looking Statements

 

The information disclosed in this quarterly report, and the information incorporated by reference herein, include “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). Forward-looking statements include, but are not limited to, statements regarding our or our management’s expectations, hopes, beliefs, intentions or strategies regarding the future. In addition, any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “would” and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking.

 

The forward-looking statements contained or incorporated by reference in this quarterly report are based on our current expectations and beliefs concerning future developments and their potential effects on us and speak only as of the date of such statement. There can be no assurance that future developments affecting us will be those that we have anticipated. These forward-looking statements involve a number of risks, uncertainties (some of which are beyond our control) or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements. These risks and uncertainties include, but are not limited to, those factors described in this Item 2 of Part I of this quarterly report and in Item 1A of Part II of this quarterly report. Should one or more of these risks or uncertainties materialize, or should any of our assumptions prove incorrect, actual results may vary in material respects from those projected in these forward-looking statements. We undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws.

 

The following discussion should be read in conjunction with our condensed consolidated interim financial statements and footnotes thereto contained in this quarterly report.

 

Overview

 

General

 

Western was incorporated in December, 2006 under the Ontario Business Corporations Act. During 2014, the Company acquired 100% of the issued and outstanding shares of Pinon Ridge Mining LLC ("PRM"), a Delaware limited liability company. The transaction constituted a reverse takeover of Western by PRM. After obtaining appropriate shareholder approvals, the Company subsequently reconstituted its Board of Directors and senior management team and changed its name to Western Uranium Corporation.

 

On September 16, 2015, Western completed its acquisition of Black Range Minerals Limited (“Black Range”), an Australian company that was listed on the Australian Securities Exchange (“ASX”) until the acquisition was completed. Western and Black Range entered into a definitive Merger Implementation Agreement, pursuant to which Western agreed to acquire all of the issued and outstanding shares of Black Range.

 

Western has registered offices at 700-10 King Street East, Toronto, Ontario, Canada M5C 1C3 and its common shares are listed on the Canadian Securities Exchange (“CSE”) under the symbol "WUC" and on the United States OTCQX Best Market under the ticker symbol “WSTRF.” Its principal business activity is the acquisition and development of uranium resource properties principally in the states of Utah and Colorado, in the United States of America.

 

 13 

 

 

Recent Developments

 

December 2015 Private Placement

 

On December 31, 2015, the Company completed a private placement raising gross proceeds of CAD $300,000 through the subscription for 101,009 common shares at a price of CAD $2.97 (US$2.14) per common share, and warrants to purchase an aggregate of 101,009 common shares at an exercise price of CAD $3.50. This offering closed on January 4, 2016. Of the total amount received, CAD $275,000 (US$198,298) was received in December of 2015 while the remainder CAD $25,000 (US $18,236) was received in the three months ended March 31, 2016. The warrants are exercisable immediately upon issuance and expire five years from the date of issuance. As of December 31, 2015, the Company accounted for the proceeds of $198,298 as subscriptions payable. During the six months ended June 30, 2016, the Company issued an aggregate of 101,009 shares of common stock in connection with this private placement.

 

April 2016 Private Placement

 

During April 2016, the Company initiated a private placement offering for the sale of units of its securities for a price per unit of CAD $1.70. Each unit consists of one share of the Company’s common stock and one warrant to purchase a share of common stock at CAD $2.60. The warrants are exercisable immediately upon issuance and expire five years from the date of closing. As of the closing date at May 5, 2016, the Company raised gross proceeds of CAD $791,090 (US$ 622,174) through the issuance of 465,347 units.

 

June 2016 Private Placement

 

On June 29, 2016 the Company announced a private placement for the issuance of up to 1,909,855 units at CAD $1.70 per unit for total gross proceeds of USD $2,500,000. Each unit shall consist of one common share of the Company and one warrant at an exercise price of CAD $2.80 which expire five years after the date of issuance. The Company intends to use this capital raise to pay the costs of the acquisition of Black Range, to fund the development of the Company’s ablation technology, to fund mine production preparation and for working capital purposes. As of August 12, 2016, the Company has received subscription agreements for the sale of 943,582 units and has received proceeds or broker settlement instructions for CAD $1,604,089 (approximately USD $1,240,699). The Company expects to close on the private placement as soon as practicable.

 

Extension of Short Term Loans

 

On February 8, 2016, the Company and the lender agreed to further extend the maturity of the Nueco Note to June 2016. In consideration for the extension the Company increased the principal amount by 10% (or $25,384), increased the interest rate to 6% per annum and paid a $5,000 fee that did not reduce the interest or principal. On June 20, 2016, the Company further extended the maturity of the Nueco Note to July 31, 2016. In consideration for the extension, the Company paid a $5,000 fee that did not reduce the interest or principal on the Nueco Note. On August 8, 2016, accrued interest was paid in the amount of $13, 477. As of August 11, 2016, the Nueco note is in default.

 

On December 16, 2015 the Company and the lender agreed to extend the maturity of the Siebels Note until June 16, 2016. In consideration for the extension of the repayment, the accrued interest at the time of extension of $8,333 was reclassified to principal, bringing the principal of the Siebels Note to $258,423. Also in consideration for such extension the interest rate was increased to 18% per annum. These amendments were accounted for as a note modification, whereby no gain or loss was recognized. On July 29, 2016, a principal payment in the amount of $100,000 was made. As of August 11, 2016, the Siebels Note is in default.

 

Dual Market for Shares in the United States

 

On May 23, 2016, Western Uranium shares began trading on the OTCQX Best Market under the symbol “WSTRF”.

 

On June 28, 2016, the Company’s registration statement became effective and Western became a U.S. reporting issuer. Thereafter, the Company was approved for DTC eligibility through the Depository Trust and Clearing Corporation (DTCC), which facilitates electronic book-entry delivery, settlement and depository services for shares in the U.S.

 

By having established dual trading markets for the Company’s shares in both Canada and the United States, Western now has comprehensive access to the large and sophisticated North American natural resource investor markets.

 

 14 

 

 

Sale of Mortgage through Equal Exchange

 

In connection with the Black Range Transaction, Western assumed a mortgage secured by land, building and improvements at 1450 North 7 Mile Road, Casper, Wyoming, with interest payable at 8.00% and payable in monthly payments of $11,085 with the final balance of $1,044,015 due as a balloon payment on January 16, 2016. The Company did not make the final balloon payment on the mortgage as scheduled; subsequently on May 26, 2016, the Company executed agreements with the mortgage holder whereby the mortgage was exchanged for the land, building and improvements securing the mortgage in an equal exchange. No future financial consideration is required.

 

Mining License

 

Over the months of June and July 2016, Western submitted documentation to the Colorado Department of Public Health and Environment (“CDPHE”) for a determination ruling regarding the type of license which may be required for the application of ablation mining technology within the state of Colorado, if any. During May and June, CDPHE held four public meetings in several cities in Colorado as part of the process. Thereafter on July 22, 2016 the CDPHE closed the comment period and has stated the determination should take about sixty days whereupon its recommendations will be released.

 

African Ore Update

 

During the first quarter of 2016, the Company received a shipment of African ore for testing to determine how the ablation process can improve the recovery economics of a large fully developed deposit in Africa. In June, the African ore was characterized, logged, ablated and relogged.

 

 15 

 

 

Results of Operations

 

   For the Three Months Ended June 30,   For the Six Months Ended
June 30,
 
   2016   2015   2016   2015 
Expenses                
Mining expenditures  $118,737   $49,020   $212,087   $90,700 
Professional fees   290,985    124,534    326,092    200,766 
General and administrative   137,846    88,535    174,103    118,221 
Consulting fees   113,999    33,016    156,869    75,738 
Unrealized foreign exchange gain   (128,000)   -    (128,000)   - 
Loss from operations   (533,567)   (295,105)   (741,151)   (485,425)
                     
Accretion and interest expense   217,185    31,756    237,265    45,076 
                     
Net loss   (750,752)   (326,861)   (978,416)   (530,501)
                     
Other Comprehensive loss                    
Foreign exchange gain (loss)   (22,528)   6,694    (53,784)   (1,997)
                     
Comprehensive Loss  $(773,280)  $(320,167)  $(1,032,200)  $(532,498)
                     
Net loss per share - basic and diluted  $(0.05)  $(0.03)  $(0.06)  $(0.04)

 

Three Months Ended June 30, 2016 as Compared to the Three Months Ended June 30, 2015

 

Summary

 

Our consolidated net loss for the three months ended June 30, 2016 and 2015 was $750,752 and $326,861 or $0.05 and $0.03 per share, respectively. The principal components of these quarter over quarter changes are discussed below.

 

Our comprehensive loss for the three months ended June 30, 2016 and 2015 was $773,280 and $320,167, respectively.

 

Mining Expenditures

 

Mining expenditures for the three months ended June 30, 2016 were $118,737 as compared to $49,020 for the three months ended June 30, 2015. The increase in mining expenditures of $69,717, or 142% was principally attributable to permits and maintenance fees incurred for the maintenance of the good standing of the Company’s mining properties.

 

Professional Fees

 

Professional fees for the three months ended June 30, 2016 were $290,985 as compared to $124,534 for the three months ended June 30, 2015. The increase in professional fees of $166,451, or 134% was principally due to the cost associated with the Company becoming publicly traded in the United States and establishing its DTC eligibility.

 

General and Administrative

 

General and administrative expenses for the three months ended June 30, 2016 were $137,846 as compared to $88,535 for the three months ended June 30, 2015. The increase in general and administrative expense of $49,311, or 56% was principally due to an increase in payroll expense of $18,000 upon the hiring of Mr. Siglin as the Company’s VP of Development and an increase in transfer agent expenses of $17,963 due to the Company holding its annual shareholder meeting in the second quarter of 2016, as opposed to the third quarter of 2015.

 

 16 

 

 

Consulting Fees

 

Consulting fees for the three months ended June 30, 2016 were $113,999 as compared to $33,016 for the three months ended June 30, 2015. The increase in consulting fees of $80,983, or 245% was principally related to costs of $60,000 incurred under a consulting agreement with a director.

 

Unrealized foreign exchange gain

 

Unrealized foreign exchange gain for the three months ended June 30, 2016 was $128,000, which represented a change in the value of the deferred contingent consideration obligation.

 

Accretion and Interest

 

Accretion and interest expense for the three months ended June 30, 2016 was $217,185 as compared to $31,756 for the three months ended June 30, 2015. The increase of accretion and interest expense of $185,429, or 584% was mainly attributable to the accretion and interest on the note payable to Siebels and the mortgage on the Casper, Wyoming building assumed in connection with the Black Range Transaction. During the second quarter of 2016, the Company canceled certain of its coal mining leases in Alaska. As part of that cancellation Alaska notified the Company that during the third quarter of 2016, its reclamation deposit would be forfeited. During the three months ended June 30, 2016, the Company accreted $174,412 to accrete its reclamation liability to its fair value.

 

Foreign Exchange

 

Foreign exchange (loss) gain for the three months ended June 30, 2016 was $(22,528) as compared to $6,694 for the three months ended June 30, 2015. The decrease of the foreign exchange gain of $29,222, or 437% is primarily due to the decrease in the CAD to USD currency exchange rate along with the increase in the assets held in Canadian dollars and Australian dollars.

 

Six Months Ended June 30, 2016 as Compared to the Six Months Ended June 30, 2015

 

Summary

 

Our consolidated net loss for the six months ended June 30, 2016 and 2015 was $978,416 and $530,501 or $0.06 and $0.04 per share, respectively. The principal components of these quarter over quarter changes are discussed below.

 

Our comprehensive loss for the six months ended June 30, 2016 and 2015 was $1,032,200 and $532,498, respectively.

 

Mining Expenditures

 

Mining expenditures for the six months ended June 30, 2016 were $212,087 as compared to $90,700 for the six months ended June 30, 2015. The increase in mining expenditures of $121,387, or 134% was principally attributable to permits and maintenance fees incurred for the maintenance of the good standing of the Company’s mining properties.

 

Professional Fees

 

Professional fees for the six months ended June 30, 2016 were $326,092 as compared to $200,766 for the six months ended June 30, 2015. The increase in professional fees of $125,326, or 62% was principally due to the cost associated with the Company becoming publicly traded in the United States and establishing its DTC eligibility.

 

 17 

 

 

General and Administrative

 

General and administrative expenses for the six months ended June 30, 2016 were $174,103 as compared to $118,221 for the six months ended June 30, 2015. The increase in general and administrative expense of $55,882, or 47% was principally due to an increase in payroll expense of $36,646 upon the hiring of Mr. Siglin as the Company’s VP of Development and an increase in transfer agent expenses of $21,530 due to the Company holding its annual shareholder meeting in the second quarter of 2016, as opposed to the third quarter of 2015.

 

Consulting Fees

 

Consulting fees for the six months ended June 30, 2016 were $156,869 as compared to $75,738 for the six months ended June 30, 2015. The increase in consulting fees is $81,131, or 107% was principally related to costs of $60,000 incurred under a consulting agreement with a director.

 

Unrealized foreign exchange gain

 

Unrealized foreign exchange gain for the three months ended June 30, 2016 was $128,000, which represented a change in the value of the deferred contingent consideration obligation.

 

Accretion and Interest

 

Accretion and interest expense for the six months ended June 30, 2016 was $237,265 as compared to $45,076 for the six months ended June 30, 2015. The increase of accretion and interest expense of $192,189, or 426% was mainly attributable to the accretion and interest on the note payable to Siebels and the mortgage on the Casper, Wyoming building assumed in connection with the Black Range Transaction. During the second quarter of 2016, the Company canceled certain of its coal mining leases in Alaska. As part of that cancellation Alaska notified the Company that during the third quarter of 2016, its reclamation deposit would be forfeited. During the three months ended June 30, 2016, the Company accreted $174,412 to accrete its reclamation liability to its fair value.

 

Foreign Exchange

 

Foreign exchange loss for the six months ended June 30, 2016 was $53,784 as compared to a loss of $1,997 for the six months ended June 30, 2015. The decrease of the foreign exchange gain of $51,787 is primarily due to the decrease in the CAD to USD currency exchange rate along with the increase in the assets held in Canadian dollars and Australian dollars.

 

Liquidity and Capital Resources

 

The Company’s cash balance as of June 30, 2016 was $22,163. The Company’s cash position is highly dependent on its ability to raise capital through the issuance of debt and equity and its management of expenditures for mining development and for fulfillment of its public reporting responsibilities. The Company expects to require additional capital in order to continue the development of the ablation mining technology. Management believes that in order to finance the development of the mining properties, the Company will be required to raise significant additional capital by way of debt and/or equity. This outlook is based on the Company’s current financial position and is subject to change if opportunities become available based on current exploration program results and/or external opportunities.

 

On January 4, 2016, the Company completed a private placement raising gross proceeds of CAD $300,000 through the subscription for 101,009 common shares at a price of CAD $2.97 (US$2.14) per common share, and warrants to purchase aggregate of 101,009 common shares at an exercise price of CAD $3.50. Of the total amount received, CAD $275,000 (US$198,298) was received in December of 2015 while the remainder was received in February of 2016. The warrants are exercisable immediately upon issuance and expire five years from the date of issuance. As of December 31, 2015, the Company accounted for the proceeds of $198,298 as subscriptions payable. During the six months ended June 30, 2016, the Company issued an aggregate of 101,009 shares of common stock in connection with this private placement.

 

 18 

 

 

During April 2016, the Company initiated a private placement for the sale of units of its securities for a price per unit of $1.70 (CAD). Each unit consists of one share of the Company’s common stock and one warrant to purchase a share of common stock at $2.60 (CAD). The warrants are exercisable immediately upon issuance and expire five years from the date of issuance. During April and May 2016 the Company raised gross proceeds of CAD $791,090 (US$ 622,174) through the issuance of 465,347 units.

 

Net cash used in operating activities

 

Net cash used in operating activities was $778,945 for the six months ended June 30, 2016, as compared with net cash used of $470,757 for the six months ended June 30, 2015. The increase of $308,188 in net cash used is mainly due to the Company having an increased net loss in 2016.

 

Net cash used in investing activities

 

Net cash used in investing activities was $0 for the six months ended June 30, 2016, as compared to $338,159 for the six months ended June 30, 2015. The cash used in investing activities in 2015 consisted primarily of the advance to Black Range under the credit facility.

 

Net cash provided by financing activities

 

Net cash provided by financing activities for the six months ended June 30, 2016 was $640,140 as compared to $1,100,447 for the six months ended June 30, 2015. For 2016, the cash provided by financing activities consisted principally of the proceeds from the issuance of 473,764 common shares for $640,410 and the proceeds of $100,000 from the Siebels promissory note off-sets by the repayment of the Siebels promissory note. The financing activities in 2015 were related to the sales of common stock in the February 2015 private placement for an aggregate of 640,000 shares valued at $1,353,793, offset by the payment of the Nueco Note of $253,346.

 

Reclamation Liability

 

The reclamation liabilities of the US mines are subject to legal and regulatory requirements, and estimates of the costs of reclamation are reviewed periodically by the applicable regulatory authorities. The reclamation liability represents the Company’s best estimate of the present value of future reclamation costs in connection with the mineral properties. The Company determined the gross reclamation liabilities at June 30, 2016 and December 31, 2015 of the mineral properties to be approximately $1,036,286 and $1,036,286, respectively. During the three months ended June 30, 2016 and 2015, the accretion of the reclamation liabilities was $178,474 and $23,634, respectively. During the six months ended June 30, 2016 and 2015, the accretion of the reclamation liabilities was $180,414 and $25,634, respectively. The Company expects to begin incurring the reclamation liability after 2054 and accordingly, has discounted the gross liabilities over a thirty year life using a discount rate of 5.4% to a net discounted value as at June 30, 2016 of $400,543. The gross reclamation liabilities as of June 30, 2016 are secured by certificates of deposit in the amount of $1,036,286. During the second quarter of 2016, the Company canceled certain of its coal mining leases in Alaska. As part of that cancelation Alaska notified the Company that during the third quarter of 2016, its reclamation deposit would be forfeited. During the three months ended June 30, 2016, the Company accreted $174,412 to accrete the reclamation liability to its fair value.

 

Related Party Transactions (including key management compensation)

 

The Company has transacted with related parties pursuant to service arrangements in the ordinary course of business, as follows:

 

An entity controlled by a member of the Board of Directors earned consulting fees totaling $9,227 and $17,687 for the three months ended June 30, 2016 and 2015, respectively and $18,472 and $27,357 for the six months ended June 30, 2016 and 2015, respectively. The same director earned director fees totaling $1,538 and $1,601 during the three months ended June 30, 2016 and 2015, respectively and $3,079 and $6,258 for the six months ended June 30, 2016 and 2015, respectively. As of June 30, 2016 and December 31, 2015, the Company has $0 and $5,074, respectively, in accounts payable and accrued liabilities owing to this director.

 

 19 

 

 

Pursuant to a consulting agreement, a US limited liability company owned by a person who is a director and the Company’s CFO entered into a contract with the Company effective January 1, 2015 to provide financial and consulting services at an annual consultant fee of $100,000. The contract had a term of one year. On October 21, 2015, the Company entered into an additional agreement with this same company to provide additional services to the Company, for the term of October through December 2015 for a monthly fee of $6,500. On January 1, 2016, the Company entered into an agreement with a different US limited liability company owned by the same director to provide financial and other consulting services at $8,333 per month. During the three months ended June 30, 2016 and 2015, the Company incurred fees of $25,000 and $25,000, respectively, to these companies. During the six months ended June 30, 2016 and 2015, the Company incurred fees of $50,000 and $50,000, respectively, to these companies. At June 30, 2016 and December 31, 2015, the Company had $6,500 and $14,833, respectively, included in accounts payable and accrued liabilities payable to these companies.

 

In connection with the acquisition of Black Range on September 16, 2015, Western assumed an obligation in the amount of (AUD) $500,000 (USD - $372,000) payable to Western’s CEO and director contingent upon the commercialization of the ablation technology.

 

Pursuant to a consulting agreement, a US limited liability company owned by a person who is a director entered into a consulting contract with the Company effective April 1, 2016 to provide financial, advisory, and consulting services, representing the company to a variety of stakeholders for a six month term ending on September 30, 2016. The semi-annual consulting fee will be paid monthly and aggregate under the agreement are $105,000. Professional fees for the three and six months ended June 30, 2016 include $60,000 and $60,000, respectively, related to this agreement.

 

As of June 30, 2016 and December 31, 2015, the Company had $7,500 and $0, respectively, included in accounts payable and accrued expenses payable to this entity.

 

Going Concern

 

The accompanying condensed consolidated financial statements have been prepared using United States Generally Accepted Accounting Principles (“US GAAP”) applicable to a going concern. Accordingly, they do not give effect to adjustments that would be necessary should the Company be unable to continue as a going concern. In this circumstance, the Company would be required to realize its assets and liquidate its liabilities and commitments in other than the normal course of business and at amounts different from those in the accompanying consolidated financial statements. Such adjustments could be material.

 

The Company has a working capital deficit of $1,665,019 as of June 30, 2016 and has incurred net losses for the six months ended June 30, 2016 and June 30, 2015 of $978,416 and $530,501, respectively. The Company will require additional financing in order to pursue its business plans and discharge its liabilities as they come due. These conditions indicate the existence of material uncertainties that cast substantial doubt upon the Company's ability to continue as a going concern.

 

Off Balance Sheet Arrangements

 

As at June 30, 2016, there were no off-balance sheet transactions. The Company has not entered into any specialized financial agreements to minimize its investment risk, currency risk or commodity risk.

 

Critical Accounting Estimates and Policies

 

The preparation of these condensed consolidated financial statements requires management to make certain estimates, judgments and assumptions that affect the reported amounts of assets and liabilities at the date of the condensed consolidated financial statements and reported amounts of expenses during the reporting period.

 

 20 

 

 

Significant assumptions about the future and other sources of estimation uncertainty that management has made at the end of the reporting period, that could result in a material adjustment to the carrying amounts of assets and liabilities, in the event that actual results differ from assumptions made, include, but are not limited to, the following:

 

Item 4.     Controls and Procedures

 

Evaluation of Disclosure Controls and Procedures

 

As of the end of the period covered by this report, our principal executive officer and principal financial officer evaluated the effectiveness of our disclosure controls and procedures (as defined in Rules 13a-15(e) and 15d-15(e) under the Securities Exchange Act of 1934, as amended (the “Exchange Act”)). Based on their evaluation of our disclosure controls and procedures, our principal executive officer and principal financial officer, with the participation of the Company’s management, concluded that our disclosure controls and procedures were not effective as of June 30, 2016, to ensure that information required to be disclosed by the Company in the reports that we file or submit under the Exchange Act is (a) recorded, processed, summarized and reported within the time periods specified in the SEC’s rules and forms and (b) accumulated and communicated to management, including our principal executive officer and principal financial officer, as appropriate to allow for timely decisions regarding required disclosure.

 

Description of Material Weakness

 

Management has concluded that the Company’s disclosure controls and procedures were not effective as of June 30, 2016, due to the lack of segregations of duties and the failure to report disclosures on a timely basis.

 

Remediation of Material Weakness

 

Management has developed a plan and related timeline for the Company to design a set of control procedures and the related required documentation thereof in order to address this material weakness. Management has targeted to have the necessary controls in place by the end of 2016.

 

 21 

 

 

PART II – OTHER INFORMATION

 

Item 1.     Legal Proceedings

 

In the opinion of management, we are not involved in any claims, legal actions or regulatory proceedings as of June 30, 2016, the ultimate disposition of which would have a material adverse effect on our consolidated financial position, results of operations, or cash flows.

 

Item 1A.  Risk Factors

 

In addition to the other information set forth in this report, you should carefully consider the factors discussed under “Risk Factors” in our Form 10 (Amendment No. 2) as filed with the Securities and Exchange Commission on July 22, 2016. These factors could materially adversely affect our business, financial condition, liquidity, results of operations and capital position, and could cause our actual results to differ materially from our historical results or the results contemplated by any forward-looking statements contained in this report.

 

Item 4.     Mine Safety Disclosures

 

Pursuant to Section 1503(a) of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (the “Dodd-Frank Act”), issuers that are operators, or that have a subsidiary that is an operator, of a coal or other mine in the United States, and that is subject to regulation by the Federal Mine Safety and Health Administration under the Mine Safety and Health Act of 1977 (“Mine Safety Act”), are required to disclose in their periodic reports filed with the SEC information regarding specified health and safety violations, orders and citations, related assessments and legal actions, and mining-related fatalities. As Western Uranium does not operate any coal or other mines, no such disclosure is required.

 

Item 6.     Exhibits

 

Exhibit No.   Description
     
31.1   Certification of Chief Executive Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
31.2  

Certification of Chief Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.

32  

Certification of Chief Executive Officer and Chief Financial Officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.

101.INS   XBRL Instance Document
101.SCH   XBRL Taxonomy Extension Schema
101.CAL   XBRL Taxonomy Extension Calculation Linkbase Document
101.DEF   XBRL Taxonomy Extension Definition Linkbase Document
101.LAB   XBRL Taxonomy Extension Label Linkbase Document
101.PRE   XBRL Taxonomy Extension Presentation Linkbase Document

 

 22 

 

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

  WESTERN URANIUM CORPORATION
     
 Date: August 15, 2016 By: /s/ George Glasier
    George Glasier
   

Chief Executive Officer

(Principal executive officer)

   
 Date: August 15, 2016 By: /s/ Andrew Wilder
    Andrew Wilder
   

Chief Financial Officer

(Principal financial and accounting officer)

 

 

23

 

EX-31.1 2 f10q061631i_western.htm CERTIFICATION

Exhibit 31.1

 

FORM OF CERTIFICATION

PURSUANT TO RULE 13a-14 AND 15d-14

UNDER THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED

 

CERTIFICATIONS

 

I, George Glasier, certify that:

 

1.     I have reviewed this quarterly report on Form 10-Q of Western Uranium Corporation;

 

2.     Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

 

3.     Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the issuer as of, and for, the periods presented in this report;

 

4.     The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) for the registrant and have:

 

(a)      Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under my supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

 

(b)      Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

 

(c)      Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

 

5.     The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

 

(a)      All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

 

(b)      Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

 

Date: August 15, 2016  /s/ George Glasier
  Name: George Glasier
  Title: Chief Executive Officer
    (Principal Executive Officer)

EX-31.2 3 f10q061631ii_western.htm CERTIFICATION

Exhibit 31.2

 

FORM OF CERTIFICATION

PURSUANT TO RULE 13a-14 AND 15d-14

UNDER THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED

 

CERTIFICATIONS

 

I, Andrew Wilder, certify that:

 

1.     I have reviewed this quarterly report on Form 10-Q of Western Uranium Corporation;

 

2.     Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

 

3.     Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

 

4.    The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) for the registrant and have:

 

(a)      Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under my supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries is made known to us by others within those entities, particularly during the period in which this report is being prepared;

 

(b)      Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

 

(c)      Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

 

5.     The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

 

(a)      All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

 

(b)      Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

  

Date: August 15, 2016  /s/ Andrew Wilder
  Name: Andrew Wilder
  Title: Chief Financial Officer
    (Principal Financial Officer and
Principal Accounting Officer)

EX-32 4 f10q061632_western.htm CERTIFICATION

Exhibit 32

 

CERTIFICATION PURSUANT TO

18 U.S.C. SECTION 1350

AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

 

In connection with the Quarterly Report on Form 10-Q of Western Uranium Corporation (the “Company”) for the quarter ended June 30, 2016 as filed with the Securities and Exchange Commission on the date hereof (the “Report”), each of the undersigned, in the capacities and on the dates indicated below, hereby certifies pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that to the best of my knowledge:

 

1.     The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

 

2.     The information contained in the Report fairly presents, in all material respects, the financial condition and results of operation of the Company.

 

Date: August 15, 2016 /s/ George Glasier
 Name: George Glasier
Title:Chief Executive Officer
(Principal Executive Officer)

 

 Date: August 15, 2016/s/ Andrew Wilder
 Name: Andrew Wilder
Title:Chief Financial Officer
(Principal Financial Officer and
Principal Accounting Officer)
EX-101.INS 5 wuc-20160630.xml XBRL INSTANCE FILE 0001621906 wuc:EnergyFuelsHoldingCorporationMember us-gaap:NotesPayableOtherPayablesMember 2014-08-18 0001621906 wuc:NuclearEnergyCorporationMember us-gaap:NotesPayableOtherPayablesMember 2014-08-18 0001621906 wuc:EnergyFuelsHoldingCorporationMember us-gaap:NotesPayableOtherPayablesMember us-gaap:MinimumMember 2014-08-18 0001621906 wuc:EnergyFuelsHoldingCorporationMember us-gaap:NotesPayableOtherPayablesMember us-gaap:MaximumMember 2014-08-18 0001621906 wuc:EnergyFuelsHoldingCorporationMember us-gaap:NotesPayableOtherPayablesMember 2014-08-14 2014-08-18 0001621906 2014-12-31 0001621906 wuc:NuclearEnergyCorporationMember us-gaap:NotesPayableOtherPayablesMember 2015-01-05 0001621906 wuc:NuclearEnergyCorporationMember us-gaap:NotesPayableOtherPayablesMember 2015-01-02 2015-01-05 0001621906 2015-04-01 2015-06-30 0001621906 us-gaap:DirectorMember 2015-04-01 2015-06-30 0001621906 us-gaap:LimitedLiabilityCompanyMember 2015-04-01 2015-06-30 0001621906 us-gaap:NotesPayableOtherPayablesMember 2015-04-01 2015-06-30 0001621906 us-gaap:WarrantMember 2015-04-01 2015-06-30 0001621906 us-gaap:EmployeeStockOptionMember 2015-04-01 2015-06-30 0001621906 2015-01-01 2015-06-30 0001621906 us-gaap:DirectorMember 2015-01-01 2015-06-30 0001621906 us-gaap:LimitedLiabilityCompanyMember 2015-01-01 2015-06-30 0001621906 us-gaap:NotesPayableOtherPayablesMember 2015-01-01 2015-06-30 0001621906 us-gaap:WarrantMember 2015-01-01 2015-06-30 0001621906 us-gaap:EmployeeStockOptionMember 2015-01-01 2015-06-30 0001621906 2015-06-30 0001621906 2015-09-16 0001621906 wuc:AblationTechnologiesLlcMember 2015-09-16 0001621906 wuc:AblationTechnologiesLlcMember 2015-09-10 2015-09-16 0001621906 wuc:SiebelsHardAssetFundLtdMember us-gaap:NotesPayableOtherPayablesMember 2015-09-30 0001621906 wuc:SiebelsHardAssetFundLtdMember us-gaap:NotesPayableOtherPayablesMember 2015-09-25 2015-09-30 0001621906 wuc:SiebelsHardAssetFundLtdMember us-gaap:NotesPayableOtherPayablesMember 2015-12-16 0001621906 wuc:SiebelsHardAssetFundLtdMember us-gaap:NotesPayableOtherPayablesMember 2015-12-01 2015-12-16 0001621906 us-gaap:LimitedLiabilityCompanyMember 2015-10-01 2015-12-31 0001621906 2015-01-01 2015-12-31 0001621906 us-gaap:LimitedLiabilityCompanyMember 2015-01-01 2015-12-31 0001621906 2015-12-31 0001621906 wuc:EnergyFuelsHoldingCorporationMember us-gaap:NotesPayableOtherPayablesMember 2015-12-31 0001621906 wuc:NuclearEnergyCorporationMember us-gaap:NotesPayableOtherPayablesMember 2015-12-31 0001621906 us-gaap:DirectorMember 2015-12-31 0001621906 us-gaap:LimitedLiabilityCompanyMember 2015-12-31 0001621906 wuc:SiebelsHardAssetFundLtdMember us-gaap:NotesPayableOtherPayablesMember 2015-12-31 0001621906 us-gaap:PrivatePlacementMember 2015-12-31 0001621906 us-gaap:FairValueInputsLevel1Member 2015-12-31 0001621906 us-gaap:FairValueInputsLevel2Member 2015-12-31 0001621906 us-gaap:FairValueInputsLevel3Member 2015-12-31 0001621906 us-gaap:CommonStockMember 2015-12-31 0001621906 us-gaap:RetainedEarningsMember 2015-12-31 0001621906 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2015-12-31 0001621906 wuc:NuclearEnergyCorporationMember us-gaap:NotesPayableOtherPayablesMember 2015-12-01 2015-12-31 0001621906 us-gaap:PrivatePlacementMember 2015-12-01 2015-12-31 0001621906 us-gaap:PrivatePlacementMember 2016-01-04 0001621906 2016-01-01 2016-01-04 0001621906 us-gaap:PrivatePlacementMember 2016-01-01 2016-01-04 0001621906 wuc:NuclearEnergyCorporationMember us-gaap:NotesPayableOtherPayablesMember 2016-02-08 0001621906 wuc:NuclearEnergyCorporationMember us-gaap:NotesPayableOtherPayablesMember 2016-02-04 2016-02-08 0001621906 wuc:SiebelsHardAssetFundLtdMember us-gaap:NotesPayableOtherPayablesMember 2016-02-22 0001621906 wuc:SiebelsHardAssetFundLtdMember us-gaap:NotesPayableOtherPayablesMember 2016-02-18 2016-02-22 0001621906 us-gaap:PrivatePlacementMember 2016-01-01 2016-03-31 0001621906 us-gaap:PrivatePlacementMember 2016-04-30 0001621906 us-gaap:PrivatePlacementMember 2016-04-01 2016-04-30 0001621906 2016-04-01 2016-05-31 0001621906 wuc:BlackRangeMineralsMember 2016-05-25 2016-06-01 0001621906 wuc:NuclearEnergyCorporationMember us-gaap:NotesPayableOtherPayablesMember 2016-06-17 2016-06-20 0001621906 wuc:NuclearEnergyCorporationMember us-gaap:NotesPayableOtherPayablesMember 2016-06-29 0001621906 us-gaap:PrivatePlacementMember 2016-06-29 0001621906 us-gaap:PrivatePlacementMember 2016-06-29 0001621906 us-gaap:PrivatePlacementMember 2016-06-03 2016-06-29 0001621906 us-gaap:PrivatePlacementMember 2016-06-03 2016-06-29 0001621906 2016-04-01 2016-06-30 0001621906 us-gaap:DirectorMember 2016-04-01 2016-06-30 0001621906 us-gaap:LimitedLiabilityCompanyMember 2016-04-01 2016-06-30 0001621906 us-gaap:NotesPayableOtherPayablesMember 2016-04-01 2016-06-30 0001621906 us-gaap:WarrantMember 2016-04-01 2016-06-30 0001621906 us-gaap:EmployeeStockOptionMember 2016-04-01 2016-06-30 0001621906 wuc:ConsultingAgreementMember 2016-04-01 2016-06-30 0001621906 2016-01-01 2016-06-30 0001621906 wuc:NuclearEnergyCorporationMember us-gaap:NotesPayableOtherPayablesMember 2016-01-01 2016-06-30 0001621906 us-gaap:DirectorMember 2016-01-01 2016-06-30 0001621906 us-gaap:LimitedLiabilityCompanyMember 2016-01-01 2016-06-30 0001621906 us-gaap:NotesPayableOtherPayablesMember 2016-01-01 2016-06-30 0001621906 us-gaap:WarrantMember 2016-01-01 2016-06-30 0001621906 us-gaap:EmployeeStockOptionMember 2016-01-01 2016-06-30 0001621906 wuc:SiebelsHardAssetFundLtdMember us-gaap:NotesPayableOtherPayablesMember 2016-01-01 2016-06-30 0001621906 us-gaap:PrivatePlacementMember 2016-01-01 2016-06-30 0001621906 us-gaap:CommonStockMember 2016-01-01 2016-06-30 0001621906 us-gaap:RetainedEarningsMember 2016-01-01 2016-06-30 0001621906 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2016-01-01 2016-06-30 0001621906 wuc:ConsultingAgreementMember 2016-01-01 2016-06-30 0001621906 us-gaap:WarrantMember 2016-01-01 2016-06-30 0001621906 us-gaap:EmployeeStockOptionMember 2016-01-01 2016-06-30 0001621906 2016-06-30 0001621906 wuc:EnergyFuelsHoldingCorporationMember us-gaap:NotesPayableOtherPayablesMember 2016-06-30 0001621906 wuc:NuclearEnergyCorporationMember us-gaap:NotesPayableOtherPayablesMember 2016-06-30 0001621906 us-gaap:DirectorMember 2016-06-30 0001621906 us-gaap:LimitedLiabilityCompanyMember 2016-06-30 0001621906 wuc:SiebelsHardAssetFundLtdMember us-gaap:NotesPayableOtherPayablesMember 2016-06-30 0001621906 us-gaap:FairValueInputsLevel1Member 2016-06-30 0001621906 us-gaap:FairValueInputsLevel2Member 2016-06-30 0001621906 us-gaap:FairValueInputsLevel3Member 2016-06-30 0001621906 us-gaap:CommonStockMember 2016-06-30 0001621906 us-gaap:RetainedEarningsMember 2016-06-30 0001621906 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2016-06-30 0001621906 us-gaap:WarrantMember 2016-06-30 0001621906 us-gaap:SubsequentEventMember 2016-07-29 0001621906 us-gaap:SubsequentEventMember 2016-08-02 2016-08-08 0001621906 2016-08-12 0001621906 us-gaap:SubsequentEventMember 2016-08-01 2016-08-12 xbrli:shares iso4217:USD iso4217:USDxbrli:shares iso4217:CAD xbrli:pure iso4217:CADxbrli:shares iso4217:AUD Western Uranium Corp 0001621906 false --12-31 10-Q 2016-06-30 2016 Q2 Smaller Reporting Company 16797089 172909 462443 214482 22163 119656 37164 2880 2880 3076 3076 215976 15774 29727 352792 308106 1050810 1036286 820310 11645218 11645218 9488051 9488051 23573157 22261685 825101 845709 1051000 500000 372000 198298 198298 215976 490193 250180 240013 539440 275420 264020 3064592 1973125 220129 184567 4063330 4063330 449984 449984 459033 459033 7798035 6680055 17658042 18496750 -1951564 -2929980 68644 14860 15775122 17658042 -1951564 68644 15581630 18496750 -2929980 14860 23573157 22261685 Unlimited Unlimited 16230733 16797089 16230733 16797089 49020 90700 118737 212087 124534 200766 290985 60000 326092 60000 88535 118221 137846 174103 33016 75738 113999 156869 128000 128000 -295105 -485425 -533567 -741151 31756 45076 217185 237265 -326861 -530501 -750752 -978416 -978416 6694 -1997 -22528 -53784 -320167 -532498 -773280 -1032200 -0.03 -0.04 -0.05 -0.06 11916703 12036924 16621904 16474603 16230733 16797089 2500000 2500000 216534 216534 1240699 1604089000 1909855 1909855 101009 943582 622174 622174 465347 53784 53784 23634 25634 178474 180414 18536 58296 196 22916 -47428 -68539 144 -128000 128000 -8794 20418 -470757 -778945 21810 316349 -338159 253346 100000 1353793 640410 100000 1100447 640410 -1997 -53784 289534 -192319 3000 198298 1051000 <p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt; font-variant: small-caps; text-transform: uppercase;"><b>NOTE&#160;</b></font><b><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">1 - BUSINESS</font></b></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px;"><font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;"><b>&#160;</b></font></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"><font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;"><b><i>Nature of operations</i></b></font></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"><font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;"><b><i>&#160;&#160;</i></b></font></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"><font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;">Western Uranium Corporation ("Western&#8221; or the &#8220;Company") was incorporated in December 2006 under the Ontario Business Corporations Act. On November 20, 2014, the Company completed a listing process on the Canadian Securities Exchange ("CSE"). As part of that process, the Company acquired 100% of the members' interests of Pinon Ridge Mining LLC ("PRM"), a Delaware limited liability company. The transaction constituted a reverse takeover ("RTO") of Western by PRM. Subsequent to obtaining appropriate shareholder approvals, the Company reconstituted its Board of Directors and senior management team. Effective September 16, 2015, Western completed its acquisition of Black Range Minerals Limited (&#8220;Black Range&#8221;).</font></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"><font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;">&#160;</font></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"><font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;">The Company has registered offices at 10 King Street East, Suite 700, Toronto, Ontario, Canada, M5C 1C3 and its common shares are listed on the CSE under the symbol "WUC." On April 22, 2016, the Company&#8217;s shares of common stock began trading on the OTC Pink, and on May 23, 2016, the Company&#8217;s shares of common stock was approved for the commencement of trading on the OTCQX Best Market. Its principal business activity is the acquisition and development of uranium resource properties in the states of Utah and Colorado in the United States of America ("USA").</font></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"><font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;">&#160;</font></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"><font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;">On June 28, 2016, the Company&#8217;s registration statement became effective and Western became a U.S. reporting issuer. Thereafter, the Company was approved for DTC eligibility through the Depository Trust and Clearing Corporation (DTCC), which facilitates electronic book&#8211; entry delivery, settlement and depository services for shares in the U.S.</font></p> <div> <p style="font: small-caps bold 10pt/normal 'times new roman', times, serif; margin: 0px 0px 0px 35.95pt; color: #000000; text-transform: uppercase; text-indent: -35.95pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"><b>NOTE 2 - LIQUIDITY AND GOING CONCERN</b></font></p> <p style="font: small-caps bold 10pt/normal 'times new roman', times, serif; margin: 0px 0px 0px 35.95pt; color: #000000; text-transform: uppercase; text-indent: -35.95pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;">&#160;</font></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;">The Company has incurred continuing losses from its operations and as of June 30, 2016 the Company has an accumulated deficit of $2,929,980 and a working capital deficit of $1,665,019.</font></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;">&#160;</font></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;">Since inception, the Company has met its liquidity requirements principally through the issuance of notes and the sale of its shares of common stock.</font></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;">&#160;</font></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;">The Company&#8217;s ability to continue its operations and to pay its obligations when they become due is contingent upon the Company obtaining additional financing. Management&#8217;s plans include seeking to procure additional funds through debt and equity financings and to initiate the processing of ore to generate operating cash flows.</font></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;">&#160;</font></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;">There are no assurances that the Company will be able to raise capital on terms acceptable to the Company or at all, or that cash flows generated from its operations will be sufficient to meet its current operating costs and required debt service. If the Company is unable to obtain sufficient amounts of additional capital, it may be required to reduce the scope of its planned product development, which could harm its financial condition and operating results, or it may not be able to continue to fund its ongoing operations.&#160;These conditions raise substantial doubt about the Company&#8217;s ability to continue as a going concern. These financial statements do not include any adjustments that might result from the outcome of these uncertainties.</font></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;"><b>&#160;</b></font></p> <p style="font: small-caps 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: uppercase; text-indent: 0pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font: 10pt/normal 'times new roman', times, serif; text-transform: none; font-stretch: normal;">Pursuant to the Company&#8217;s capital raising objectives, during April and May 2016 the Company raised CAD $791,090 (US $622,174) in a private placement (<i>see note 10)</i>.</font></p> <p style="font: small-caps 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: uppercase; text-indent: 0pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"></p> <p style="font: small-caps 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: uppercase; text-indent: 0pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font: 10pt/normal 'times new roman', times, serif; text-transform: none; font-stretch: normal;">&#160;</font></p> <p style="font: small-caps 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: uppercase; text-indent: 0pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font: 10pt/normal 'times new roman', times, serif; text-transform: none; font-stretch: normal;">On June 29, 2016 the Company announced a private placement for the issuance of up to 1,909,855 units at CAD $1.70 per unit for total gross proceeds of USD up to $2,500,000. Each unit shall consist of one common share of the Company and one warrant at an exercise price of CAD $2.80 which expire five years after the date of issuance. The Company intends to use this capital raise to pay the costs of the acquisition of Black Range, to fund the development of the Company&#8217;s ablation technology, to fund mine production preparation, to pay down certain of the Company&#8217;s notes payable, and for working capital purposes (<i>see note 13)</i>.</font></p> </div> <p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-variant: small-caps; font-weight: bold; font-stretch: normal; margin: 0px 0px 0px 35.95pt; text-transform: uppercase; text-indent: -35.95pt;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"><b>NOTE 3 &#8211; SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES</b></font></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-variant: small-caps; font-weight: bold; font-stretch: normal; margin: 0px 0px 0px 35.95pt; text-transform: uppercase; text-indent: -35.95pt;"><font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;">&#160;</font></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px;"><font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;"><b><i>Basis of Presentation and Principles of Consolidation</i></b></font></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px;"><font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;">&#160;</font></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px 0.5pt 0px 0px; text-align: justify;"><font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;">The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (&#8220;U.S. GAAP&#8221;) for interim financial information and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. In the opinion of management, all adjustments (consisting of normal accruals) considered for a fair presentation have been included. Operating results for the three and six months ended June 30, 2016 are not necessarily indicative of the results that may be expected for the year ending December 31, 2016. These condensed financial statements should be read in conjunction with the consolidated financial statements for the year ended December 31, 2015 and related notes thereto which were included in the Company&#8217;s form 10-12G filed with the Securities and Exchange Commission on July 22, 2016.</font></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px 0.5pt 0px 0px; text-align: justify;"><font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;">&#160;</font></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"><font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;">The accompanying unaudited condensed consolidated financial statements include the accounts of Western and its wholly-owned subsidiaries, Western Uranium Corp., Pinon Ridge Mining LLC, Black Range Minerals Limited, Black Range Copper Inc., Ranger Resources Inc., Black Range Minerals Inc., Black Range Minerals Colorado LLC, Black Range Minerals Wyoming LLC, Haggerty Resources LLC, Ranger Alaska LLC, Black Range Minerals Utah LLC, Black Range Minerals Ablation Holdings Inc. and Black Range Development Utah LLC. All significant inter-company transactions and balances have been eliminated upon consolidation.</font></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"><font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;">&#160;</font></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"><font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;"><b><i>Use of Estimates</i></b></font></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"><font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;"><i>&#160;</i></font></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"><font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;">The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amount of assets and liabilities at the date of the financial statements and revenues and expenses during the period reported. By their nature, these estimates are subject to measurement uncertainty and the effect on the financial statements of changes in such estimates in future periods could be significant. Significant areas requiring management's estimates and assumptions include determining the fair value of transactions involving shares of common stock, assessment of the useful life and evaluation for impairment of intangible assets, valuation and impairment assessments on mineral properties, deferred contingent consideration, the reclamation liability, valuation of stock-based compensation, valuation of available-for-sale securities and valuation of long-term debt and asset retirement obligations. Other areas requiring estimates include allocations of expenditures, depletion and amortization of mineral rights and properties. Actual results could differ from those estimates.</font></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"><font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;">&#160;</font></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"><font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;"><b><i>Foreign Currency Translation</i></b></font></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"><font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;"><i>&#160;</i></font></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"><font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;">The reporting currency of the Company, including its subsidiaries, is the United States dollar. The financial statements of subsidiaries located outside of the U.S. are measured in their functional currency, which is the local currency. The functional currency of the parent is the Canadian dollar. Monetary assets and liabilities of these subsidiaries are translated at the exchange rates at the balance sheet date. Income and expense items are translated using average monthly exchange rates. Non-monetary assets are translated at their historical exchange rates. Translation adjustments are included in accumulated other comprehensive loss in the condensed consolidated balance sheets.</font></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"><font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;">&#160;</font></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"><font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;"><b><i>Fair Values of Financial Instruments</i></b></font></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"><font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;"><b><i>&#160;</i></b></font></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"><font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;">The fair value of financial instruments in the Company&#8217;s consolidated financial statements at June 30, 2016 and December 31, 2015 are as follows:</font></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;">&#160;</p><table align="center" style="font: 10pt/normal 'times new roman', times, serif; width: 1567px; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; border-collapse: collapse; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"><tr style="vertical-align: bottom;"><td style="padding-left: 0px;">&#160;</td><td style="padding-bottom: 1.5pt;">&#160;</td><td style="text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2">Quoted Prices in<br />Active Markets<br />for Identical<br />Assets or<br />Liabilities<br />(Level 1)</td><td style="padding-bottom: 1.5pt;">&#160;</td><td style="padding-bottom: 1.5pt;">&#160;</td><td style="text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2">Quoted Prices<br />for Similar<br />Assets or<br />Liabilities in<br />Active Markets<br />(Level 2)</td><td style="padding-bottom: 1.5pt;">&#160;</td><td style="padding-bottom: 1.5pt;">&#160;</td><td style="text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2">Significant<br />Unobservable<br />Inputs<br />(Level 3)</td><td style="padding-bottom: 1.5pt;">&#160;</td></tr><tr style="vertical-align: bottom; background-color: #cceeff;"><td style="width: 1003px; padding-bottom: 4pt; padding-left: 0px; text-indent: 0px;">Marketable securities at June 30, 2016</td><td style="width: 16px; padding-bottom: 4pt;">&#160;</td><td style="width: 16px; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; text-align: left;">$</td><td style="width: 142px; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; text-align: right;">3,076</td><td style="width: 16px; padding-bottom: 4pt; text-align: left;">&#160;</td><td style="width: 16px; padding-bottom: 4pt;">&#160;</td><td style="width: 16px; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; text-align: left;">$</td><td style="width: 141px; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; text-align: right;">&#160;&#160;&#160;-</td><td style="width: 15px; padding-bottom: 4pt; text-align: left;">&#160;</td><td style="width: 15px; padding-bottom: 4pt;">&#160;</td><td style="width: 15px; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; text-align: left;">$</td><td style="width: 141px; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; text-align: right;">&#160;&#160;&#160;-</td><td style="width: 15px; padding-bottom: 4pt; text-align: left;">&#160;</td></tr><tr style="vertical-align: bottom; background-color: white;"><td style="padding-left: 10pt;">&#160;</td><td>&#160;</td><td style="text-align: left;">&#160;</td><td style="text-align: right;">&#160;</td><td style="text-align: left;">&#160;</td><td>&#160;</td><td style="text-align: left;">&#160;</td><td style="text-align: right;">&#160;</td><td style="text-align: left;">&#160;</td><td>&#160;</td><td style="text-align: left;">&#160;</td><td style="text-align: right;">&#160;</td><td style="text-align: left;">&#160;</td></tr><tr style="vertical-align: bottom; background-color: #cceeff;"><td style="padding-bottom: 4pt; padding-left: 0px; text-indent: 0px;">Marketable securities at December 31, 2015</td><td style="padding-bottom: 4pt;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; text-align: left;">$</td><td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; text-align: right;">2,880</td><td style="padding-bottom: 4pt; text-align: left;">&#160;</td><td style="padding-bottom: 4pt;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; text-align: left;">$</td><td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; text-align: right;">&#160;&#160;&#160;-</td><td style="padding-bottom: 4pt; text-align: left;">&#160;</td><td style="padding-bottom: 4pt;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; text-align: left;">$</td><td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; text-align: right;">&#160;&#160;&#160;-</td><td style="padding-bottom: 4pt; text-align: left;">&#160;</td></tr></table><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;">&#160;</p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"><font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;"><b><i>Loss per Share</i></b></font></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"><font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;"><b><i>&#160;</i></b></font></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"><font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;">Basic net loss per share is computed by dividing net loss by the weighted average number of shares of common stock outstanding during the period. Diluted earnings per share is computed using the weighted average number of common shares and, if dilutive, potential common shares outstanding during the period. Potential common shares consist of the incremental common shares issuable upon the exercise of stock options and warrants (using the treasury stock method). The computation of basic loss per share for the three and six month periods ended June 30, 2016 and 2015 excludes potentially dilutive securities. The computations of net loss per share for each period presented is the same for both basic and fully diluted.</font></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"><font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;"><b><i>&#160;</i></b></font></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"><font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;">Potentially dilutive securities outlined in the table below have been excluded from the computation of diluted net loss per share because the effect of their inclusion would have been anti-dilutive.</font></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px;"><font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;">&#160;</font></p><table align="center" style="font: 10pt/normal 'times new roman', times, serif; width: 1567px; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; border-collapse: collapse; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"><tr style="vertical-align: bottom;"><td>&#160;</td><td style="padding-bottom: 1.5pt;">&#160;</td><td style="text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="6">For the Three and Six<br />Months Ended&#160;<br />June 30,</td><td style="padding-bottom: 1.5pt;">&#160;</td></tr><tr style="vertical-align: bottom;"><td>&#160;</td><td style="padding-bottom: 1.5pt;">&#160;</td><td style="text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2">2016</td><td style="padding-bottom: 1.5pt;">&#160;</td><td style="padding-bottom: 1.5pt;">&#160;</td><td style="text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2">2015</td><td style="padding-bottom: 1.5pt;">&#160;</td></tr><tr style="vertical-align: bottom; background-color: #cceeff;"><td style="width: 1191px; text-align: left;">Warrants to purchase shares of common stock</td><td style="width: 16px;">&#160;</td><td style="width: 16px; text-align: left;">&#160;</td><td style="width: 142px; text-align: right;">566,356</td><td style="width: 16px; text-align: left;">&#160;</td><td style="width: 15px;">&#160;</td><td style="width: 15px; text-align: left;">&#160;</td><td style="width: 141px; text-align: right;">-</td><td style="width: 15px; text-align: left;">&#160;</td></tr><tr style="vertical-align: bottom; background-color: white;"><td style="text-align: left; padding-bottom: 1.5pt;">Options to purchase shares of common stock</td><td style="padding-bottom: 1.5pt;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; text-align: left;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; text-align: right;">271,996</td><td style="padding-bottom: 1.5pt; text-align: left;">&#160;</td><td style="padding-bottom: 1.5pt;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; text-align: left;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; text-align: right;">-</td><td style="padding-bottom: 1.5pt; text-align: left;">&#160;</td></tr><tr style="vertical-align: bottom; background-color: #cceeff;"><td style="text-align: justify; padding-bottom: 4pt; padding-left: 10pt;">Total potentially dilutive securities</td><td style="padding-bottom: 4pt;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; text-align: left;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; text-align: right;">838,352</td><td style="padding-bottom: 4pt; text-align: left;">&#160;</td><td style="padding-bottom: 4pt;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; text-align: left;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; text-align: right;">-</td><td style="padding-bottom: 4pt; text-align: left;"></td></tr></table><div>&#160;</div> <p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt; font-variant: small-caps; text-transform: uppercase;"><b>NOTE 4 &#8211;</b></font><b><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">&#160;<font style="font-variant: small-caps; text-transform: uppercase;">RECENT ACCOUNTING PRONOUNCEMENTS</font></font></b></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px;"><font style="font-variant: small-caps; font-style: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-transform: uppercase;"><b>&#160;</b></font></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"><font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;">On February 25, 2016, the Financial Accounting Standards Board (&#8220;FASB&#8221;) issued Accounting Standards Update (&#8220;ASU&#8221;) 2016-02, Leases (Topic 842). This update will require organizations that lease assets to recognize on the balance sheet the assets and liabilities for the rights and obligations created by those leases. The new guidance will also require additional disclosures about the amount, timing and uncertainty of cash flows arising from leases. The provisions of this update are effective for annual and interim periods beginning after December 15, 2018. The Company is currently evaluating the impact the adoption of this ASU will have on the Company&#8217;s financial position and results of operations.<font style="font-variant: small-caps; text-transform: uppercase;"><b></b></font></font></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"><font style="font-variant: small-caps; font-style: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-transform: uppercase;"><b>&#160;</b></font></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"><font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;">On March 30, 2016, the FASB issued ASU No. 2016-09, &#8220;Compensation &#8211; Stock Compensation (Topic 718)&#8221;. This update requires that all excess tax benefits and tax deficiencies arising from share-based payment awards should be recognized as income tax expense or benefit on the income statement. The amendment also states that excess tax benefits should be classified along with other income tax cash flows as an operating activity. In addition, an entity can make an entity-wide accounting policy election to either estimate the number of awards expected to vest or account for forfeitures as they occur. The provisions of this update are effective for annual and interim periods beginning after December 15, 2016. The Company is currently evaluating the impact the adoption of this standard will have on its financial statements.</font></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"><font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;">&#160;</font><font style="font-variant: small-caps; font-style: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-transform: uppercase;"><b>&#160;</b></font></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"><font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;">In April 2016, the FASB issued ASU No. 2016-10 &#8220;Revenue from Contracts with Customers (Topic 606)&#8221;, &#8220;Identifying Performance Obligations and Licensing&#8221; (&#8220;ASU 2016-10&#8221;). ASU 2016-10 clarifies the following two aspects of Topic 606: identifying performance obligations and the licensing implementation guidance, while retaining the related principles for those areas. The provisions of this update are effective for annual and interim periods beginning after December 15, 2017, with early application permitted. The Company is currently evaluating the impact the adoption of this standard will have on its financial statements.</font></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"><font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;">&#160;</font></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"><font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;">In May 2016, the FASB issued ASU No. 2016-12 &#8220;Revenue from Contracts with Customers (Topic 606)&#8221;, &#8220;Narrow-Scope Improvements and Practical Expedients&#8221; (&#8220;ASU 2016-12&#8221;). The core principal of ASU 2016-12 is the recognition of revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The provisions of this update are effective for annual and interim periods beginning after December 15, 2017, with early application permitted. The Company is currently evaluating the impact the adoption of this standard will have on its financial statements.</font></p> <div> <p style="font: small-caps bold 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: uppercase; text-indent: 0pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"><b>NOTE 5 - MINERAL ASSETS, ABLATION INTELLECTUAL PROPERTY AND OTHER PROPERTY</b></font></p> <p style="font: small-caps bold 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: uppercase; text-indent: 0pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;">&#160;</font></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;">On August 18, 2014, the Company purchased mining assets in an arm's length transaction. The mining assets include both owned and leased land in the states of Utah and Colorado. All of the mining assets represent properties which have previously been mined to different degrees for uranium. As some of the properties have not formally established proven or probable reserves, there may be greater inherent uncertainty as to whether or not any mineralized material can be economically extracted as originally planned and anticipated.</font></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;">&#160;</font></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;">The Company&#8217;s mining properties acquired on August 18, 2014, include: San Rafael Uranium Project located in Emery County, Utah; The Sunday Mine Complex located in western San Miguel County, Colorado; The Van 4 Mine located in western Montrose County, Colorado; The Yellow Cat Project located in eastern Grand County, Utah; The Farmer Girl Mine project located in Montrose County, Colorado; The Sage Mine project located in San Juan County, Utah, and San Miguel County, Colorado.</font></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;">&#160;</font></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;">On September 16, 2015, Western completed its acquisition of Black Range. In connection with the acquisition of Black Range, Western acquired the net assets of Black Range. These net assets consist principally of interests in a complex of uranium mines located in Colorado (the &#8220;Hansen-Taylor Complex&#8221;) and a 100% interest in a 25 year license for ablation mining technologies and related patents from Ablation Technologies, LLC. The Hansen-Taylor Complex is principally a sandstone-hosted deposit that was discovered in 1977. Ablation is a low cost, purely physical method of sorting uranium ore by applying a grain-size separation process to ore slurries.</font></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;">&#160;</font></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;">The Company&#8217;s mining and mining related assets consist of the following:</font></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;">&#160;</font></p> <table align="center" style="font: 10pt/normal 'times new roman', times, serif; width: 1039.33px; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; border-collapse: collapse; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"> <tr style="vertical-align: bottom;"> <td style="text-align: justify; padding-left: 0px;">&#160;</td> <td style="padding-bottom: 1.5pt;">&#160;</td> <td style="text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="6">As of:</td> <td style="padding-bottom: 1.5pt;">&#160;</td> </tr> <tr style="vertical-align: bottom;"> <td style="text-align: justify; padding-left: 0px;">&#160;</td> <td style="padding-bottom: 1.5pt;">&#160;</td> <td style="text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2">June 30,<br />2016</td> <td style="padding-bottom: 1.5pt;">&#160;</td> <td style="padding-bottom: 1.5pt;">&#160;</td> <td style="text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2">December&#160;31,&#160;<br />2015</td> <td style="padding-bottom: 1.5pt;">&#160;</td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="width: 790px; text-align: left; padding-left: 0px;">Land, building and improvements</td> <td style="width: 10.66px;">&#160;</td> <td style="width: 10.66px; text-align: left;">$</td> <td style="width: 94px; text-align: right;">-</td> <td style="width: 10.66px; text-align: left;">&#160;</td> <td style="width: 10px;">&#160;</td> <td style="width: 10px; text-align: left;">$</td> <td style="width: 93.33px; text-align: right;">1,050,810</td> <td style="width: 10px; text-align: left;">&#160;</td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: left; padding-left: 0px;">Mineral properties</td> <td>&#160;</td> <td style="text-align: left;">&#160;</td> <td style="text-align: right;">11,645,218</td> <td style="text-align: left;">&#160;</td> <td>&#160;</td> <td style="text-align: left;">&#160;</td> <td style="text-align: right;">11,645,218</td> <td style="text-align: left;">&#160;</td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: left; padding-left: 0px;">Ablation intellectual property</td> <td>&#160;</td> <td style="text-align: left;">&#160;</td> <td style="text-align: right;">9,488,051</td> <td style="text-align: left;">&#160;</td> <td>&#160;</td> <td style="text-align: left;">&#160;</td> <td style="text-align: right;">9,488,051</td> <td style="text-align: left;">&#160;</td> </tr> </table> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;">&#160;</font></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;">On May 26, 2016, the Company executed agreements with the mortgage holder whereby in an equal exchange the mortgage was exchanged for the land, building and improvements with which it was secured (<i>see Note 8</i>).</font></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"></font>&#160;</p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">On June 1, 2016, Black Range entered into an agreement with Ferris-Haggarty Mining Corporation to transfer all available data, information, materials, reports, assay analysis, or other regarding the Ferris-Haggarty Copper Project in Carbon County, WY from 2006 through 2009. In exchange Black Range Minerals Inc. received 100,000 Common Class A Voting shares of Ferris-Haggarty Mining Corporation. The transaction is deemed to lack commercial substance because neither the fair value of the data relinquished nor the fair value of the shares are determinable within reasonable limits, given that there is no market for the data and that the Company does not have enough information to reliably determine a value for the shares. Since the exchange of data for shares of Ferris-Haggarty lacks commercial substance, the value of the exchange will be based on the recorded value of the asset relinquished (the data), which is $0.</font></p> </div> <p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-indent: 0pt; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-variant: small-caps; font-weight: bold; font-stretch: normal; margin: 0px; text-transform: uppercase;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"><b>NOTE 6 - ACCOUNTS PAYABLE AND ACCRUED LIABILITIES</b></font></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-indent: 0pt; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-variant: small-caps; font-weight: bold; font-stretch: normal; margin: 0px; text-transform: uppercase;">&#160;</p><table align="center" style="font: 10pt/normal 'times new roman', times, serif; width: 1567px; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; border-collapse: collapse; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"><tr style="vertical-align: bottom;"><td>&#160;</td><td style="font-weight: normal;">&#160;</td><td style="font-weight: normal; text-align: center;" colspan="2">As of&#160;<br />June 30,</td><td style="font-weight: normal;">&#160;</td><td>&#160;</td><td style="text-align: center;" colspan="2"><p style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; margin: 0px; text-align: center;"></p><p style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; margin: 0px; text-align: center;"><font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;">As of December&#160;&#160;31,</font></p></td><td>&#160;</td></tr><tr style="vertical-align: bottom;"><td>&#160;</td><td style="font-weight: normal; padding-bottom: 1.5pt;">&#160;</td><td style="font-weight: normal; text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2">2016</td><td style="padding-bottom: 1.5pt; font-weight: normal;">&#160;</td><td style="font-weight: normal; padding-bottom: 1.5pt;">&#160;</td><td style="font-weight: normal; text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2">2015</td><td style="padding-bottom: 1.5pt; font-weight: normal;">&#160;</td></tr><tr style="vertical-align: bottom; background-color: #cceeff;"><td style="width: 1191px; text-align: left;">Trade accounts payable</td><td style="width: 16px; font-weight: normal;">&#160;</td><td style="width: 16px; font-weight: normal; text-align: left;">$</td><td style="width: 142px; font-weight: normal; text-align: right;">489,459</td><td style="width: 16px; font-weight: normal; text-align: left;">&#160;</td><td style="width: 15px; font-weight: normal;">&#160;</td><td style="width: 15px; font-weight: normal; text-align: left;">$</td><td style="width: 141px; font-weight: normal; text-align: right;">520,530</td><td style="width: 15px; font-weight: normal; text-align: left;">&#160;</td></tr><tr style="vertical-align: bottom; background-color: white;"><td style="text-align: left; padding-bottom: 1.5pt;">Accrued liabilities</td><td style="font-weight: normal; padding-bottom: 1.5pt;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-weight: normal; text-align: left;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-weight: normal; text-align: right;">356,250</td><td style="padding-bottom: 1.5pt; font-weight: normal; text-align: left;">&#160;</td><td style="font-weight: normal; padding-bottom: 1.5pt;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-weight: normal; text-align: left;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-weight: normal; text-align: right;">304,571</td><td style="padding-bottom: 1.5pt; font-weight: normal; text-align: left;">&#160;</td></tr><tr style="vertical-align: bottom; background-color: #cceeff;"><td style="padding-bottom: 4pt;">&#160;</td><td style="font-weight: normal; padding-bottom: 4pt;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; font-weight: normal; text-align: left;">$</td><td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; font-weight: normal; text-align: right;">845,709</td><td style="padding-bottom: 4pt; font-weight: normal; text-align: left;">&#160;</td><td style="font-weight: normal; padding-bottom: 4pt;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; font-weight: normal; text-align: left;">$</td><td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; font-weight: normal; text-align: right;">825,101</td><td style="padding-bottom: 4pt; font-weight: normal; text-align: left;"></td></tr></table> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;"><b>NOTE 7<font style="text-transform: uppercase; font-variant: small-caps;">&#160;- NOTES PAYABLE</font></b></font></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font: small-caps 10pt/normal 'times new roman', times, serif; text-transform: uppercase; font-stretch: normal;"><b>&#160;</b></font></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;">On August 18, 2014, in connection with the purchase of the mining properties, the Company entered into a note payable with Energy Fuels Holding Corporation (&#8220;EFHC&#8221;) (the &#8220;EFHC Note&#8221;) for $500,000. The EFHC Note bears interest at a rate of 3.0% per annum and is secured by a first priority interest in certain of the Company&#8217;s mining assets. On the date of the purchase, the Company recorded the EFHC Note net of a discount for interest of $73,971 at a rate of 4% per annum, resulting in a total effective interest rate of 7% per annum. The discount is being amortized using the effective interest method over the life of the loan. All principal on the EFHC Note is due and payable on August 18, 2018 and interest on the EFHC Note is due and payable annually beginning August 18, 2015.</font></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;">&#160;</font></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;">On August 18, 2014, also in connection with the purchase of the mining properties, the Company entered into a Note Assumption Agreement with EFHC and Nuclear Energy Corporation (&#8220;Nueco&#8221;), whereby the Company assumed all of the obligations of EFHC under its note payable with Nueco (the &#8220;Nueco Note&#8221;). The Nueco Note bears no stated interest rate and is secured by certain of the Company&#8217;s mining assets. On the date of the purchase, the Company recorded the Nueco Note net of a discount for interest of $23,724 at a rate of 7% per annum. The discount is being amortized using the effective interest method over the life of the loan. The Nueco payment due on December 20, 2014 in the amount of $250,180 was made on January 5, 2015 without penalty other than additional interest at 6% per annum. As of December 31, 2015, the Nueco Note had a remaining obligation outstanding of $250,180, the due date of which was extended to January 13, 2016. In connection with the extension, the Company agreed to add interest from the date of October 13, 2015 until the date paid at the annual rate of one percent (1%) per annum. On February 8, 2016, the Company and the lender agreed to further extend the maturity of the Nueco Note to June 2016. In consideration for the extension the Company increased the principal amount by 10% (or $25,384), increased the interest rate to 6% per annum and paid a $5,000 fee that did not reduce the interest or principal. On June 20, 2016, the Company further extended the maturity of the Nueco Note to July 31, 2016. In consideration for the extension, the Company paid a $5,000 fee that did not reduce the interest or principal on the Nueco Note. These amendments were accounted for as a note modification, whereby no gain or loss was recognized. On August 8, 2016, accrued interest was paid in the amount of $13,477. As of August 11, 2016, the Nueco Note is in default.</font></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;">&#160;</font></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;">On September 30, 2015 the Company entered into a note payable (&#8220;Siebels Note&#8221;) with The Siebels Hard Asset Fund, Ltd. (&#8220;Siebels&#8221;) for $250,000, which was fully funded on October 14, 2015. The Siebels Note bears interest at a rate of 16.0% per annum and was to mature on December 15, 2015. On December 16, 2015 the Company and the lender agreed to extend the maturity of the Siebels Note until June 16, 2016. In consideration for the extension of the repayment, the accrued interest at the time of extension of $8,333 was reclassified to principal, bringing the principal of the Siebels Note to $258,423. Also in consideration for such extension the interest rate was increased to 18% per annum. These amendments were accounted for as a note modification, whereby no gain or loss was recognized. On July 29, 2016, a partial principal payment in the amount of $100,000 was made. As of August 11, 2016, the Siebels Note is in default.</font></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;">&#160;</font></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;">On February 22, 2016, the Company entered into a second note payable with Siebels for $100,000. The note bore interest at a rate of 18.0% per annum and matured on April 22, 2016. On April 28, 2016, the Company repaid this note in full.</font></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;">&#160;</font></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;">Notes payable consisted of:</font></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;">&#160;</font></p> <table align="center" style="font: 10pt/normal 'times new roman', times, serif; width: 1567px; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; border-collapse: collapse; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"> <tr style="font: 10pt/normal 'times new roman', times, serif; vertical-align: bottom; font-stretch: normal;"> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: justify; text-indent: 0px; padding-left: 0px; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-indent: 0px; padding-bottom: 1.5pt; padding-left: 0px; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: center; text-indent: 0px; padding-left: 0px; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-stretch: normal;" colspan="18">As of June 30, 2016</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-indent: 0px; padding-bottom: 1.5pt; padding-left: 0px; font-stretch: normal;">&#160;</td> </tr> <tr style="font: 10pt/normal 'times new roman', times, serif; vertical-align: bottom; font-stretch: normal;"> <td style="font: 10pt/normal 'times new roman', times, serif; text-indent: 0px; padding-left: 0px; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-indent: 0px; padding-bottom: 1.5pt; padding-left: 0px; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: center; text-indent: 0px; padding-left: 0px; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-stretch: normal;" colspan="2">Principal</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-indent: 0px; padding-bottom: 1.5pt; padding-left: 0px; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-indent: 0px; padding-bottom: 1.5pt; padding-left: 0px; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: center; text-indent: 0px; padding-left: 0px; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-stretch: normal;" colspan="2">Discount</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-indent: 0px; padding-bottom: 1.5pt; padding-left: 0px; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-indent: 0px; padding-bottom: 1.5pt; padding-left: 0px; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: center; text-indent: 0px; padding-left: 0px; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-stretch: normal;" colspan="2">Balance, Net<br />of Discount</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-indent: 0px; padding-bottom: 1.5pt; padding-left: 0px; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-indent: 0px; padding-bottom: 1.5pt; padding-left: 0px; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: center; text-indent: 0px; padding-left: 0px; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-stretch: normal;" colspan="2">Current</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-indent: 0px; padding-bottom: 1.5pt; padding-left: 0px; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-indent: 0px; padding-bottom: 1.5pt; padding-left: 0px; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: center; text-indent: 0px; padding-left: 0px; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-stretch: normal;" colspan="2">Non-Current</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-indent: 0px; padding-bottom: 1.5pt; padding-left: 0px; font-stretch: normal;">&#160;</td> </tr> <tr style="font: 10pt/normal 'times new roman', times, serif; vertical-align: bottom; font-stretch: normal; background-color: #cceeff;"> <td style="font: 10pt/normal 'times new roman', times, serif; width: 784px; text-indent: 0px; padding-left: 0px; font-stretch: normal;">EFHC</td> <td style="font: 10pt/normal 'times new roman', times, serif; width: 16px; text-indent: 0px; padding-left: 0px; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; width: 16px; text-align: left; text-indent: 0px; padding-left: 0px; font-stretch: normal;">$</td> <td style="font: 10pt/normal 'times new roman', times, serif; width: 110px; text-align: right; text-indent: 0px; padding-left: 0px; font-stretch: normal;">500,000</td> <td style="font: 10pt/normal 'times new roman', times, serif; width: 16px; text-align: left; text-indent: 0px; padding-left: 0px; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; width: 16px; text-indent: 0px; padding-left: 0px; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; width: 16px; text-align: left; text-indent: 0px; padding-left: 0px; font-stretch: normal;">$</td> <td style="font: 10pt/normal 'times new roman', times, serif; width: 110px; text-align: right; text-indent: 0px; padding-left: 0px; font-stretch: normal;">40,967</td> <td style="font: 10pt/normal 'times new roman', times, serif; width: 16px; text-align: left; text-indent: 0px; padding-left: 0px; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; width: 16px; text-indent: 0px; padding-left: 0px; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; width: 16px; text-align: left; text-indent: 0px; padding-left: 0px; font-stretch: normal;">$</td> <td style="font: 10pt/normal 'times new roman', times, serif; width: 110px; text-align: right; text-indent: 0px; padding-left: 0px; font-stretch: normal;">459,033</td> <td style="font: 10pt/normal 'times new roman', times, serif; width: 16px; text-align: left; text-indent: 0px; padding-left: 0px; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; width: 16px; text-indent: 0px; padding-left: 0px; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; width: 15px; text-align: left; text-indent: 0px; padding-left: 0px; font-stretch: normal;">$</td> <td style="font: 10pt/normal 'times new roman', times, serif; width: 109px; text-align: right; text-indent: 0px; padding-left: 0px; font-stretch: normal;">-</td> <td style="font: 10pt/normal 'times new roman', times, serif; width: 15px; text-align: left; text-indent: 0px; padding-left: 0px; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; width: 15px; text-indent: 0px; padding-left: 0px; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; width: 15px; text-align: left; text-indent: 0px; padding-left: 0px; font-stretch: normal;">$</td> <td style="font: 10pt/normal 'times new roman', times, serif; width: 109px; text-align: right; text-indent: 0px; padding-left: 0px; font-stretch: normal;">459,033</td> <td style="font: 10pt/normal 'times new roman', times, serif; width: 15px; text-align: left; text-indent: 0px; padding-left: 0px; font-stretch: normal;">&#160;</td> </tr> <tr style="font: 10pt/normal 'times new roman', times, serif; vertical-align: bottom; font-stretch: normal; background-color: white;"> <td style="font: 10pt/normal 'times new roman', times, serif; text-indent: 0px; padding-left: 0px; font-stretch: normal;">Nueco</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-indent: 0px; padding-left: 0px; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: left; text-indent: 0px; padding-left: 0px; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: right; text-indent: 0px; padding-left: 0px; font-stretch: normal;">279,220</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: left; text-indent: 0px; padding-left: 0px; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-indent: 0px; padding-left: 0px; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: left; text-indent: 0px; padding-left: 0px; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: right; text-indent: 0px; padding-left: 0px; font-stretch: normal;">3,800</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: left; text-indent: 0px; padding-left: 0px; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-indent: 0px; padding-left: 0px; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: left; text-indent: 0px; padding-left: 0px; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: right; text-indent: 0px; padding-left: 0px; font-stretch: normal;">275,420</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: left; text-indent: 0px; padding-left: 0px; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-indent: 0px; padding-left: 0px; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: left; text-indent: 0px; padding-left: 0px; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: right; text-indent: 0px; padding-left: 0px; font-stretch: normal;">275,420</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: left; text-indent: 0px; padding-left: 0px; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-indent: 0px; padding-left: 0px; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: left; text-indent: 0px; padding-left: 0px; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: right; text-indent: 0px; padding-left: 0px; font-stretch: normal;">-</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: left; text-indent: 0px; padding-left: 0px; font-stretch: normal;">&#160;</td> </tr> <tr style="font: 10pt/normal 'times new roman', times, serif; vertical-align: bottom; font-stretch: normal; background-color: #cceeff;"> <td style="font: 10pt/normal 'times new roman', times, serif; text-indent: 0px; padding-bottom: 1.5pt; padding-left: 0px; font-stretch: normal;">Siebels</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-indent: 0px; padding-bottom: 1.5pt; padding-left: 0px; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: left; text-indent: 0px; padding-left: 0px; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: right; text-indent: 0px; padding-left: 0px; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-stretch: normal;">264,020</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: left; text-indent: 0px; padding-bottom: 1.5pt; padding-left: 0px; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-indent: 0px; padding-bottom: 1.5pt; padding-left: 0px; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: left; text-indent: 0px; padding-left: 0px; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: right; text-indent: 0px; padding-left: 0px; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-stretch: normal;">-</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: left; text-indent: 0px; padding-bottom: 1.5pt; padding-left: 0px; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-indent: 0px; padding-bottom: 1.5pt; padding-left: 0px; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: left; text-indent: 0px; padding-left: 0px; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: right; text-indent: 0px; padding-left: 0px; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-stretch: normal;">264,020</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: left; text-indent: 0px; padding-bottom: 1.5pt; padding-left: 0px; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-indent: 0px; padding-bottom: 1.5pt; padding-left: 0px; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: left; text-indent: 0px; padding-left: 0px; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: right; text-indent: 0px; padding-left: 0px; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-stretch: normal;">264,020</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: left; text-indent: 0px; padding-bottom: 1.5pt; padding-left: 0px; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-indent: 0px; padding-bottom: 1.5pt; padding-left: 0px; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: left; text-indent: 0px; padding-left: 0px; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: right; text-indent: 0px; padding-left: 0px; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-stretch: normal;">-</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: left; text-indent: 0px; padding-bottom: 1.5pt; padding-left: 0px; font-stretch: normal;">&#160;</td> </tr> <tr style="font: 10pt/normal 'times new roman', times, serif; vertical-align: bottom; font-stretch: normal; background-color: white;"> <td style="font: 10pt/normal 'times new roman', times, serif; text-indent: 0px; padding-bottom: 4pt; padding-left: 10pt; font-stretch: normal;">Total</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-indent: 0px; padding-bottom: 4pt; padding-left: 0px; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: left; text-indent: 0px; padding-left: 0px; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; font-stretch: normal;">$</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: right; text-indent: 0px; padding-left: 0px; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; font-stretch: normal;">1,043,240</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: left; text-indent: 0px; padding-bottom: 4pt; padding-left: 0px; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-indent: 0px; padding-bottom: 4pt; padding-left: 0px; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: left; text-indent: 0px; padding-left: 0px; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; font-stretch: normal;">$</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: right; text-indent: 0px; padding-left: 0px; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; font-stretch: normal;">44,767</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: left; text-indent: 0px; padding-bottom: 4pt; padding-left: 0px; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-indent: 0px; padding-bottom: 4pt; padding-left: 0px; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: left; text-indent: 0px; padding-left: 0px; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; font-stretch: normal;">$</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: right; text-indent: 0px; padding-left: 0px; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; font-stretch: normal;">998,473</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: left; text-indent: 0px; padding-bottom: 4pt; padding-left: 0px; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-indent: 0px; padding-bottom: 4pt; padding-left: 0px; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: left; text-indent: 0px; padding-left: 0px; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; font-stretch: normal;">$</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: right; text-indent: 0px; padding-left: 0px; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; font-stretch: normal;">539,440</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: left; text-indent: 0px; padding-bottom: 4pt; padding-left: 0px; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-indent: 0px; padding-bottom: 4pt; padding-left: 0px; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: left; text-indent: 0px; padding-left: 0px; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; font-stretch: normal;">$</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: right; text-indent: 0px; padding-left: 0px; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; font-stretch: normal;">459,033</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: left; text-indent: 0px; padding-bottom: 4pt; padding-left: 0px; font-stretch: normal;">&#160;</td> </tr> </table> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;">&#160;</font></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;">During the three months ended June 30, 2016 and 2015, the Company&#8217;s interest expense on notes payable was $39,273, and $31,756, respectively, including the amortization of debt discounts. Interest expense on notes payable for the six months ended June 30, 2016 and 2015 was $59,353 and $45,076, respectively.</font></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;">&#160;</font></p> <table align="center" style="font: 10pt/normal 'times new roman', times, serif; width: 1567px; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; border-collapse: collapse; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"> <tr style="font: 10pt/normal 'times new roman', times, serif; vertical-align: bottom; font-stretch: normal;"> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: justify; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; padding-bottom: 1.5pt; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-stretch: normal;" colspan="18">As of December 31, 2015</td> <td style="font: 10pt/normal 'times new roman', times, serif; padding-bottom: 1.5pt; font-stretch: normal;">&#160;</td> </tr> <tr style="font: 10pt/normal 'times new roman', times, serif; vertical-align: bottom; font-stretch: normal;"> <td style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; padding-bottom: 1.5pt; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-stretch: normal;" colspan="2">Principal</td> <td style="font: 10pt/normal 'times new roman', times, serif; padding-bottom: 1.5pt; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; padding-bottom: 1.5pt; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-stretch: normal;" colspan="2">Discount</td> <td style="font: 10pt/normal 'times new roman', times, serif; padding-bottom: 1.5pt; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; padding-bottom: 1.5pt; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-stretch: normal;" colspan="2">Balance, Net<br />of Discount</td> <td style="font: 10pt/normal 'times new roman', times, serif; padding-bottom: 1.5pt; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; padding-bottom: 1.5pt; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-stretch: normal;" colspan="2">Current</td> <td style="font: 10pt/normal 'times new roman', times, serif; padding-bottom: 1.5pt; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; padding-bottom: 1.5pt; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-stretch: normal;" colspan="2">Non-Current</td> <td style="font: 10pt/normal 'times new roman', times, serif; padding-bottom: 1.5pt; font-stretch: normal;">&#160;</td> </tr> <tr style="font: 10pt/normal 'times new roman', times, serif; vertical-align: bottom; font-stretch: normal; background-color: #cceeff;"> <td style="font: 10pt/normal 'times new roman', times, serif; width: 772.6px; text-indent: -8.55pt; padding-left: 8.55pt; font-stretch: normal;">EFHC</td> <td style="font: 10pt/normal 'times new roman', times, serif; width: 16px; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; width: 16px; text-align: left; font-stretch: normal;">$</td> <td style="font: 10pt/normal 'times new roman', times, serif; width: 110px; text-align: right; font-stretch: normal;">500,000</td> <td style="font: 10pt/normal 'times new roman', times, serif; width: 16px; text-align: left; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; width: 16px; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; width: 16px; text-align: left; font-stretch: normal;">$</td> <td style="font: 10pt/normal 'times new roman', times, serif; width: 110px; text-align: right; font-stretch: normal;">50,016</td> <td style="font: 10pt/normal 'times new roman', times, serif; width: 16px; text-align: left; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; width: 16px; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; width: 16px; text-align: left; font-stretch: normal;">$</td> <td style="font: 10pt/normal 'times new roman', times, serif; width: 110px; text-align: right; font-stretch: normal;">449,984</td> <td style="font: 10pt/normal 'times new roman', times, serif; width: 16px; text-align: left; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; width: 16px; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; width: 15px; text-align: left; font-stretch: normal;">$</td> <td style="font: 10pt/normal 'times new roman', times, serif; width: 109px; text-align: right; font-stretch: normal;">-</td> <td style="font: 10pt/normal 'times new roman', times, serif; width: 15px; text-align: left; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; width: 15px; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; width: 15px; text-align: left; font-stretch: normal;">$</td> <td style="font: 10pt/normal 'times new roman', times, serif; width: 109px; text-align: right; font-stretch: normal;">449,984</td> <td style="font: 10pt/normal 'times new roman', times, serif; width: 15px; text-align: left; font-stretch: normal;">&#160;</td> </tr> <tr style="font: 10pt/normal 'times new roman', times, serif; vertical-align: bottom; font-stretch: normal; background-color: white;"> <td style="font: 10pt/normal 'times new roman', times, serif; text-indent: -8.55pt; padding-left: 8.55pt; font-stretch: normal;">Nueco</td> <td style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: left; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: right; font-stretch: normal;">250,180</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: left; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: left; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: right; font-stretch: normal;">-</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: left; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: left; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: right; font-stretch: normal;">250,180</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: left; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: left; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: right; font-stretch: normal;">250,180</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: left; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: left; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: right; font-stretch: normal;">-</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: left; font-stretch: normal;">&#160;</td> </tr> <tr style="font: 10pt/normal 'times new roman', times, serif; vertical-align: bottom; font-stretch: normal; background-color: #cceeff;"> <td style="font: 10pt/normal 'times new roman', times, serif; padding-bottom: 1.5pt; font-stretch: normal;">Siebels</td> <td style="font: 10pt/normal 'times new roman', times, serif; padding-bottom: 1.5pt; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: left; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: right; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-stretch: normal;">240,013</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: left; padding-bottom: 1.5pt; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; padding-bottom: 1.5pt; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: left; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: right; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-stretch: normal;">-</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: left; padding-bottom: 1.5pt; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; padding-bottom: 1.5pt; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: left; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: right; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-stretch: normal;">240,013</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: left; padding-bottom: 1.5pt; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; padding-bottom: 1.5pt; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: left; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: right; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-stretch: normal;">240,013</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: left; padding-bottom: 1.5pt; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; padding-bottom: 1.5pt; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: left; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: right; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-stretch: normal;">-</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: left; padding-bottom: 1.5pt; font-stretch: normal;">&#160;</td> </tr> <tr style="font: 10pt/normal 'times new roman', times, serif; vertical-align: bottom; font-stretch: normal; background-color: white;"> <td style="font: 10pt/normal 'times new roman', times, serif; text-indent: -8.55pt; padding-bottom: 4pt; padding-left: 20pt; font-stretch: normal;">Total</td> <td style="font: 10pt/normal 'times new roman', times, serif; padding-bottom: 4pt; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: left; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; font-stretch: normal;">$</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: right; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; font-stretch: normal;">990,193</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: left; padding-bottom: 4pt; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; padding-bottom: 4pt; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: left; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; font-stretch: normal;">$</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: right; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; font-stretch: normal;">50,016</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: left; padding-bottom: 4pt; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; padding-bottom: 4pt; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: left; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; font-stretch: normal;">$</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: right; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; font-stretch: normal;">940,177</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: left; padding-bottom: 4pt; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; padding-bottom: 4pt; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: left; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; font-stretch: normal;">$</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: right; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; font-stretch: normal;">490,193</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: left; padding-bottom: 4pt; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; padding-bottom: 4pt; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: left; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; font-stretch: normal;">$</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: right; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; font-stretch: normal;">449,984</td> <td style="font: 10pt/normal 'times new roman', times, serif; text-align: left; padding-bottom: 4pt; font-stretch: normal;">&#160;</td> </tr> </table> <p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px;"><font style="font-variant: small-caps; font-style: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-transform: uppercase;"><b>NOTE 8 - MORTGAGE</b></font></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px;"><font style="font-variant: small-caps; font-style: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-transform: uppercase;"><b>&#160;</b></font></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"><font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;">In connection with the acquisition of Black Range, Western assumed a mortgage secured by land, building and improvements at 1450 North 7 Mile Road, Casper, Wyoming, with interest payable at 8.00% and payable in monthly payments of $11,085 with the final balance of $1,044,015 due as a balloon payment on January 16, 2016. The Company did not make the final balloon payment as scheduled. Subsequently, on May 26, 2016, the Company executed agreements with the mortgage holder whereby in an equal exchange the mortgage was exchanged for the land, building and improvements with which it was secured, and pursuant to which no future financial consideration is required.</font></p> <p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px;"><font style="font-variant: small-caps; font-style: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-transform: uppercase;"><b>NOTE 9 - RECLAMATION LIABILITY</b></font></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px;"><font style="font-variant: small-caps; font-style: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-transform: uppercase;"><b>&#160;</b></font></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"><font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;">The reclamation liabilities of the US mines are subject to legal and regulatory requirements, and estimates of the costs of reclamation are reviewed periodically by the applicable regulatory authorities. The reclamation liability represents the Company&#8217;s best estimate of the present value of future reclamation costs in connection with the mineral properties. The Company determined the gross reclamation liabilities at June 30, 2016 and December 31, 2015 of the mineral properties to be approximately $1,036,286 and $1,036,286, respectively. During the three months ended June 30, 2016 and 2015, the accretion of the reclamation liabilities was $178,474 and $23,634, respectively. During the six months ended June 30, 2016 and 2015, the accretion of the reclamation liabilities was $180,414 and $25,634, respectively. Except in regard to its Alaska coal mine property (as discussed below), The Company expects to begin incurring the reclamation liability after 2054 and accordingly, has discounted the gross liabilities over a thirty year life using a discount rate of 5.4% to a net discounted value as of June 30, 2016 and December 31, 2015 of $400,543 and $200,129, respectively. The gross reclamation liabilities as of June 30, 2016 are secured by certificates of deposit in the amount of $1,036,286. During the second quarter of 2016, the Company initiated actions to cancel its coal mining leases in Alaska. In connection therewith, the Company is currently evaluating the most effective manner in which to reclaim such mines. During the three months ended June 30, 2016, with the near-term prospects for reclamation, the Company adjusted the fair value of its reclamation obligation and for the Alaska mine, accreted $174,412 to bring its reclamation liability to fair value. The portion of the reclamation liability related to the Alaska mine, and its related restricted cash are included in current liabilities, and current assets, respectively, at a value of $215,976.</font></p> <p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-variant: small-caps; font-weight: bold; font-stretch: normal; margin: 0px 0px 0px 35.95pt; text-transform: uppercase; text-indent: -35.95pt;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"><b>NOTE 10 -<font style="font-variant: normal; text-transform: none;">&#160;</font>SHARE CAPITAL AND OTHER EQUITY INSTRUMENTS</b></font></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-variant: small-caps; font-weight: bold; font-stretch: normal; margin: 0px 0px 0px 35.95pt; text-transform: uppercase; text-indent: -35.95pt;"><font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;">&#160;&#160;</font></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px;"><font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;"><b><i>Private Placements</i></b></font></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px;"><font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;"><b><i>&#160;&#160;</i></b></font></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"><font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;">On January 4, 2016, the Company completed a private placement raising gross proceeds of CAD $300,000 through the subscription for 101,009 common shares at a price of CAD $2.97 (US$2.14) per common share, and warrants to purchase aggregate of 101,009 common shares at an exercise price of CAD $3.50. This offering closed on December 31, 2015. Of the total amount received, CAD $275,000 (US$198,298) was received in December of 2015 while the remainder CAD $25,000 (US$18,236) was received in the three months ended March 31, 2016. The warrants are exercisable immediately upon issuance and expire five years from the date of issuance. As of December 31, 2015, the Company accounted for the proceeds of $198,298 as subscriptions payable.</font></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"><font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-transform: none;">&#160;</font></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0pt; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-variant: small-caps; font-stretch: normal; margin: 0px; text-transform: uppercase; text-align: justify;"><font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-transform: none;">During April 2016, the Company initiated a private placement offering for the sale of units of its securities for a price per unit of $1.70 (CAD) (US$1.34). Each unit consists of one share of the Company&#8217;s common stock and one warrant to purchase a share of common stock at $2.60 (CAD) per share, with a term of five years. During April and May 2016 the Company raised gross proceeds of CAD $791,090 (US$622,174) through the issuance of 465,347 units.</font></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0pt; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-variant: small-caps; font-stretch: normal; margin: 0px; text-transform: uppercase; text-align: justify;"><font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;">&#160;</font></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0pt; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-variant: small-caps; font-stretch: normal; margin: 0px; text-transform: uppercase; text-align: justify;"><font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-transform: none;">During the six months ended June 30, 2016, the Company issued 566,356 shares of common stock in connection with these private placements.</font></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0pt; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-variant: small-caps; font-stretch: normal; margin: 0px; text-transform: uppercase; text-align: justify;"><font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;"><b><i>&#160;</i></b></font></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px;"><font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;"><b><i>Stock Options</i></b></font></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px;"><font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;"><b><i>&#160;</i></b></font></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"><font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;">In connection with the acquisition of Black Range, the Board of Directors granted options for the purchase of 271,996 shares of the Company&#8217;s common stock to certain of the former directors, employees and consultants of Black Range. On the date of grant, these options were fully vested, had a weighted average exercise price of CAD $6.39 (US$4.91) and a weighted average remaining contractual life of 3.52 years and had a grant date fair value of $1.59 per share. As of June 30, 2016, these stock options had a remaining contractual life of 3.02 years and had no intrinsic value. These stock options became exercisable on January 17, 2016.</font></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"><font style="font-variant: small-caps; font-style: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-transform: uppercase;"><b>&#160;</b></font></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px;"><font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;"><b><i>Warrants</i></b></font></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px;"><font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;"><b><i>&#160;</i></b></font></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"><font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;">As of June 30, 2016, there were warrants outstanding to purchase an aggregate of 566,356 shares of the Company&#8217;s common stock at an exercise price of CAD $2.76 (US$2.12) per share. These warrants have a weighted average remaining life of 4.79 years.</font></p> <p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px 0px 0px 35.95pt; text-indent: -35.95pt;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt; font-variant: small-caps; text-transform: uppercase;"><b>NOTE 11 - MINING EXPENDITURES</b></font></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px 0px 0px 35.95pt; text-align: justify;"><font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;">&#160;</font></p><table align="center" style="font: 10pt/normal 'times new roman', times, serif; width: 1567px; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; border-collapse: collapse; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"><tr style="vertical-align: bottom;"><td>&#160;</td><td style="padding-bottom: 1.5pt;">&#160;</td><td style="text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="6"><p style="margin-top: 0px; margin-bottom: 0px;">For the Three<br />Months Ended&#160;<br />June 30,</p></td><td style="padding-bottom: 1.5pt;">&#160;</td><td style="padding-bottom: 1.5pt;">&#160;</td><td style="text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="6">For the Six&#160;<br />Months&#160;Ended&#160;<br />June 30,</td><td style="padding-bottom: 1.5pt;">&#160;</td></tr><tr style="vertical-align: bottom;"><td>&#160;</td><td style="padding-bottom: 1.5pt;">&#160;</td><td style="text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2">2016</td><td style="padding-bottom: 1.5pt;">&#160;</td><td style="padding-bottom: 1.5pt;">&#160;</td><td style="text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2">2015</td><td style="padding-bottom: 1.5pt;">&#160;</td><td style="padding-bottom: 1.5pt;">&#160;</td><td style="text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2">2016</td><td style="padding-bottom: 1.5pt;">&#160;</td><td style="padding-bottom: 1.5pt;">&#160;</td><td style="text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2">2015</td><td style="padding-bottom: 1.5pt;">&#160;</td></tr><tr style="vertical-align: bottom; background-color: #cceeff;"><td style="width: 815px;">Permits</td><td style="width: 16px;">&#160;</td><td style="width: 16px; text-align: left;">$</td><td style="width: 142px; text-align: right;">67,188</td><td style="width: 16px; text-align: left;">&#160;</td><td style="width: 16px;">&#160;</td><td style="width: 16px; text-align: left;">$</td><td style="width: 142px; text-align: right;">37,610</td><td style="width: 16px; text-align: left;">&#160;</td><td style="width: 15px;">&#160;</td><td style="width: 15px; text-align: left;">$</td><td style="width: 141px; text-align: right;">116,374</td><td style="width: 15px; text-align: left;">&#160;</td><td style="width: 15px;">&#160;</td><td style="width: 15px; text-align: left;">$</td><td style="width: 141px; text-align: right;">66,335</td><td style="width: 15px; text-align: left;">&#160;</td></tr><tr style="vertical-align: bottom; background-color: white;"><td>Maintenance</td><td>&#160;</td><td style="text-align: left;">&#160;</td><td style="text-align: right;">43,824</td><td style="text-align: left;">&#160;</td><td>&#160;</td><td style="text-align: left;">&#160;</td><td style="text-align: right;">11,410</td><td style="text-align: left;">&#160;</td><td>&#160;</td><td style="text-align: left;">&#160;</td><td style="text-align: right;">81,678</td><td style="text-align: left;">&#160;</td><td>&#160;</td><td style="text-align: left;">&#160;</td><td style="text-align: right;">24,365</td><td style="text-align: left;">&#160;</td></tr><tr style="vertical-align: bottom; background-color: #cceeff;"><td style="text-align: left;">Contract Labor</td><td>&#160;</td><td style="text-align: left;">&#160;</td><td style="text-align: right;">3,975</td><td style="text-align: left;">&#160;</td><td>&#160;</td><td style="text-align: left;">&#160;</td><td style="text-align: right;">-</td><td style="text-align: left;">&#160;</td><td>&#160;</td><td style="text-align: left;">&#160;</td><td style="text-align: right;">6,535</td><td style="text-align: left;">&#160;</td><td>&#160;</td><td style="text-align: left;">&#160;</td><td style="text-align: right;">-</td><td style="text-align: left;">&#160;</td></tr><tr style="vertical-align: bottom; background-color: white;"><td style="padding-bottom: 1.5pt;">Royalties</td><td style="padding-bottom: 1.5pt;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; text-align: left;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; text-align: right;">3,750</td><td style="padding-bottom: 1.5pt; text-align: left;">&#160;</td><td style="padding-bottom: 1.5pt;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; text-align: left;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; text-align: right;">-</td><td style="padding-bottom: 1.5pt; text-align: left;">&#160;</td><td style="padding-bottom: 1.5pt;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; text-align: left;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; text-align: right;">7,500</td><td style="padding-bottom: 1.5pt; text-align: left;">&#160;</td><td style="padding-bottom: 1.5pt;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; text-align: left;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; text-align: right;">-</td><td style="padding-bottom: 1.5pt; text-align: left;">&#160;</td></tr><tr style="vertical-align: bottom; background-color: #cceeff;"><td style="padding-bottom: 4pt;">&#160;</td><td style="padding-bottom: 4pt;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; text-align: left;">$</td><td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; text-align: right;">118,737</td><td style="padding-bottom: 4pt; text-align: left;">&#160;</td><td style="padding-bottom: 4pt;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; text-align: left;">$</td><td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; text-align: right;">49,020</td><td style="padding-bottom: 4pt; text-align: left;">&#160;</td><td style="padding-bottom: 4pt;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; text-align: left;">$</td><td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; text-align: right;">212,087</td><td style="padding-bottom: 4pt; text-align: left;">&#160;</td><td style="padding-bottom: 4pt;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; text-align: left;">$</td><td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; text-align: right;">90,700</td><td style="padding-bottom: 4pt; text-align: left;"></td></tr></table> <div><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px 0px 0px 49.5pt; color: #000000; text-transform: none; text-indent: -49.45pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font: small-caps 10pt/normal 'times new roman', times, serif; text-transform: uppercase; font-stretch: normal;"><b>NOTE 12 - RELATED PARTY TRANSACTIONS (INCLUDING KEY MANAGEMENT COMPENSATION)</b></font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px 0px 0px 49.5pt; color: #000000; text-transform: none; text-indent: -49.45pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;">&#160;</font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;">The Company has transacted with related parties pursuant to service arrangements in the ordinary course of business, as follows:</font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;">&#160;</font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;">An entity controlled by a member of the Board of Directors earned consulting fees totaling $9,227 and $17,687 for the three months ended June 30, 2016 and 2015, respectively and $18,472 and $27,357 for the six months ended June 30, 2016 and 2015, respectively. The same director earned director fees totaling $1,538 and $1,601 during the three months ended June 30, 2016 and 2015, respectively and $3,079 and $6,258 for the six months ended June 30, 2016 and 2015, respectively. As of June 30, 2016 and December 31, 2015, the Company has $0 and $5,074, respectively, in accounts payable and accrued liabilities owing to this director.</font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;">&#160;</font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;">Pursuant to a consulting agreement, a US limited liability company owned by a person who is a director and the Company&#8217;s CFO entered into a contract with the Company effective January 1, 2015 to provide financial and consulting services at an annual consultant fee of $100,000. The contract had a term of one year. On October 21, 2015, the Company entered into an additional agreement with this same company to provide additional services to the Company, for the term of October through December 2015 for a monthly fee of $6,500. On January 1, 2016, the Company entered into an agreement with a different US limited liability company owned by the same director to provide financial and other consulting services at $8,333 per month. During the three months ended June 30, 2016 and 2015, the Company incurred fees of $25,000 and $25,000, respectively, to these companies. During the six months ended June 30, 2016 and 2015, the Company incurred fees of $50,000 and $50,000, respectively, to these companies. At June 30, 2016 and December 31, 2015, the Company had $6,500 and $14,833, respectively, included in accounts payable and accrued liabilities payable to these companies.</font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;">&#160;</font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;">In connection with the acquisition of Black Range on September 16, 2015, Western assumed an obligation in the amount of AUS $500,000 payable to Western&#8217;s CEO and director contingent upon the commercialization of the ablation technology.</font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;">&#160;</font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;">As at June 30, 2016, the obligation of $372,000 is included in the condensed consolidated balance sheet. A gain of $128,000 on the translation of the obligation for the three and six months period ended June 30, 2016, was reflected within the &#8220;unrealized foreign exchange gain&#8221; in the statement of operations and comprehensive loss.</font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;">&#160;</font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;">Pursuant to a consulting agreement, a US limited liability company owned by a person who is a director entered into a consulting contract with the Company effective April 1, 2016 to provide financial, advisory, and consulting services, including representing the Company to a variety of stakeholders for a six month term ending on September 30, 2016. The semi-annual consulting fee will be paid monthly and aggregate fees under the agreement are $105,000. Professional fees for the three and six months ended June 30, 2016 are $60,000 and $60,000, respectively, related to this agreement.</font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;">&#160;</font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;">As of June 30, 2016 and December 31, 2015, the Company had $7,500 and $0, respectively, included in accounts payable and accrued expenses payable to this entity.</font></p></div> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;"><b>NOTE 13 - SUBSEQUENT EVENTS</b></font></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;"><b>&#160;</b></font></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;"><b><i>Private Placements</i></b></font></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;"><b><i>&#160;</i></b></font></p> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="text-transform: none; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal;">On June 29, 2016 the Company announced a private placement for the issuance of up to 1,909,855 units at CAD $1.70 per unit for total gross proceeds of USD $2,500,000. Each unit shall consist of one common share of the Company and one warrant at an exercise price of CAD $2.80 which expire five years after the date of issuance. The Company intends to use this capital raise to pay the costs of the acquisition of Black Range, to fund the development of the Company&#8217;s ablation technology, to fund mine production preparation and for working capital purposes. As of August 12</font>, 2016, the Company has received subscription agreements for the sale of 943,582 units and has received proceeds or broker settlement instructions for CAD $1,604,089 (approximately USD $1,240,699). The Company expects to close on the private placement as soon as practicable.</p> <p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px;"><font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;"><b><i>Basis of Presentation and Principles of Consolidation</i></b></font></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px;"><font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;">&#160;</font></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px 0.5pt 0px 0px; text-align: justify;"><font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;">The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (&#8220;U.S. GAAP&#8221;) for interim financial information and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. In the opinion of management, all adjustments (consisting of normal accruals) considered for a fair presentation have been included. Operating results for the three and six months ended June 30, 2016 are not necessarily indicative of the results that may be expected for the year ending December 31, 2016. These condensed financial statements should be read in conjunction with the consolidated financial statements for the year ended December 31, 2015 and related notes thereto which were included in the Company&#8217;s form 10-12G filed with the Securities and Exchange Commission on July 22, 2016.</font></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px 0.5pt 0px 0px; text-align: justify;"><font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;">&#160;</font></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"><font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;">The accompanying unaudited condensed consolidated financial statements include the accounts of Western and its wholly-owned subsidiaries, Western Uranium Corp., Pinon Ridge Mining LLC, Black Range Minerals Limited, Black Range Copper Inc., Ranger Resources Inc., Black Range Minerals Inc., Black Range Minerals Colorado LLC, Black Range Minerals Wyoming LLC, Haggerty Resources LLC, Ranger Alaska LLC, Black Range Minerals Utah LLC, Black Range Minerals Ablation Holdings Inc. and Black Range Development Utah LLC. All significant inter-company transactions and balances have been eliminated upon consolidation.</font></p> <p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"><font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;"><b><i>Use of Estimates</i></b></font></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"><font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;"><i>&#160;</i></font></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"><font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;">The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amount of assets and liabilities at the date of the financial statements and revenues and expenses during the period reported. By their nature, these estimates are subject to measurement uncertainty and the effect on the financial statements of changes in such estimates in future periods could be significant. Significant areas requiring management's estimates and assumptions include determining the fair value of transactions involving shares of common stock, assessment of the useful life and evaluation for impairment of intangible assets, valuation and impairment assessments on mineral properties, deferred contingent consideration, the reclamation liability, valuation of stock-based compensation, valuation of available-for-sale securities and valuation of long-term debt and asset retirement obligations. Other areas requiring estimates include allocations of expenditures, depletion and amortization of mineral rights and properties. Actual results could differ from those estimates.</font></p> <p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"><font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;"><b><i>Foreign Currency Translation</i></b></font></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"><font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;"><i>&#160;</i></font></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"><font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;">The reporting currency of the Company, including its subsidiaries, is the United States dollar. The financial statements of subsidiaries located outside of the U.S. are measured in their functional currency, which is the local currency. The functional currency of the parent is the Canadian dollar. Monetary assets and liabilities of these subsidiaries are translated at the exchange rates at the balance sheet date. Income and expense items are translated using average monthly exchange rates. Non-monetary assets are translated at their historical exchange rates. Translation adjustments are included in accumulated other comprehensive loss in the condensed consolidated balance sheets.</font></p> <p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"><font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;"><b><i>Fair Values of Financial Instruments</i></b></font></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"><font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;"><b><i>&#160;</i></b></font></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"><font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;">The fair value of financial instruments in the Company&#8217;s consolidated financial statements at June 30, 2016 and December 31, 2015 are as follows:</font></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;">&#160;</p><table align="center" style="font: 10pt/normal 'times new roman', times, serif; width: 1567px; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; border-collapse: collapse; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"><tr style="vertical-align: bottom;"><td style="padding-left: 0px;">&#160;</td><td style="padding-bottom: 1.5pt;">&#160;</td><td style="text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2">Quoted Prices in<br />Active Markets<br />for Identical<br />Assets or<br />Liabilities<br />(Level 1)</td><td style="padding-bottom: 1.5pt;">&#160;</td><td style="padding-bottom: 1.5pt;">&#160;</td><td style="text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2">Quoted Prices<br />for Similar<br />Assets or<br />Liabilities in<br />Active Markets<br />(Level 2)</td><td style="padding-bottom: 1.5pt;">&#160;</td><td style="padding-bottom: 1.5pt;">&#160;</td><td style="text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2">Significant<br />Unobservable<br />Inputs<br />(Level 3)</td><td style="padding-bottom: 1.5pt;">&#160;</td></tr><tr style="vertical-align: bottom; background-color: #cceeff;"><td style="width: 1003px; padding-bottom: 4pt; padding-left: 0px; text-indent: 0px;">Marketable securities at June 30, 2016</td><td style="width: 16px; padding-bottom: 4pt;">&#160;</td><td style="width: 16px; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; text-align: left;">$</td><td style="width: 142px; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; text-align: right;">3,076</td><td style="width: 16px; padding-bottom: 4pt; text-align: left;">&#160;</td><td style="width: 16px; padding-bottom: 4pt;">&#160;</td><td style="width: 16px; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; text-align: left;">$</td><td style="width: 141px; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; text-align: right;">&#160;&#160;&#160;-</td><td style="width: 15px; padding-bottom: 4pt; text-align: left;">&#160;</td><td style="width: 15px; padding-bottom: 4pt;">&#160;</td><td style="width: 15px; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; text-align: left;">$</td><td style="width: 141px; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; text-align: right;">&#160;&#160;&#160;-</td><td style="width: 15px; padding-bottom: 4pt; text-align: left;">&#160;</td></tr><tr style="vertical-align: bottom; background-color: white;"><td style="padding-left: 10pt;">&#160;</td><td>&#160;</td><td style="text-align: left;">&#160;</td><td style="text-align: right;">&#160;</td><td style="text-align: left;">&#160;</td><td>&#160;</td><td style="text-align: left;">&#160;</td><td style="text-align: right;">&#160;</td><td style="text-align: left;">&#160;</td><td>&#160;</td><td style="text-align: left;">&#160;</td><td style="text-align: right;">&#160;</td><td style="text-align: left;">&#160;</td></tr><tr style="vertical-align: bottom; background-color: #cceeff;"><td style="padding-bottom: 4pt; padding-left: 0px; text-indent: 0px;">Marketable securities at December 31, 2015</td><td style="padding-bottom: 4pt;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; text-align: left;">$</td><td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; text-align: right;">2,880</td><td style="padding-bottom: 4pt; text-align: left;">&#160;</td><td style="padding-bottom: 4pt;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; text-align: left;">$</td><td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; text-align: right;">&#160;&#160;&#160;-</td><td style="padding-bottom: 4pt; text-align: left;">&#160;</td><td style="padding-bottom: 4pt;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; text-align: left;">$</td><td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; text-align: right;">&#160;&#160;&#160;-</td><td style="padding-bottom: 4pt; text-align: left;"></td></tr></table> <p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"><font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;"><b><i>Loss per Share</i></b></font></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"><font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;"><b><i>&#160;</i></b></font></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"><font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;">Basic net loss per share is computed by dividing net loss by the weighted average number of shares of common stock outstanding during the period. Diluted earnings per share is computed using the weighted average number of common shares and, if dilutive, potential common shares outstanding during the period. Potential common shares consist of the incremental common shares issuable upon the exercise of stock options and warrants (using the treasury stock method). The computation of basic loss per share for the three and six month periods ended June 30, 2016 and 2015 excludes potentially dilutive securities. The computations of net loss per share for each period presented is the same for both basic and fully diluted.</font></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"><font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;"><b><i>&#160;</i></b></font></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"><font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;">Potentially dilutive securities outlined in the table below have been excluded from the computation of diluted net loss per share because the effect of their inclusion would have been anti-dilutive.</font></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px;"><font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;">&#160;</font></p><table align="center" style="font: 10pt/normal 'times new roman', times, serif; width: 1567px; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; border-collapse: collapse; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"><tr style="vertical-align: bottom;"><td>&#160;</td><td style="padding-bottom: 1.5pt;">&#160;</td><td style="text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="6">For the Three and Six<br />Months Ended&#160;<br />June 30,</td><td style="padding-bottom: 1.5pt;">&#160;</td></tr><tr style="vertical-align: bottom;"><td>&#160;</td><td style="padding-bottom: 1.5pt;">&#160;</td><td style="text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2">2016</td><td style="padding-bottom: 1.5pt;">&#160;</td><td style="padding-bottom: 1.5pt;">&#160;</td><td style="text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2">2015</td><td style="padding-bottom: 1.5pt;">&#160;</td></tr><tr style="vertical-align: bottom; background-color: #cceeff;"><td style="width: 1191px; text-align: left;">Warrants to purchase shares of common stock</td><td style="width: 16px;">&#160;</td><td style="width: 16px; text-align: left;">&#160;</td><td style="width: 142px; text-align: right;">566,356</td><td style="width: 16px; text-align: left;">&#160;</td><td style="width: 15px;">&#160;</td><td style="width: 15px; text-align: left;">&#160;</td><td style="width: 141px; text-align: right;">-</td><td style="width: 15px; text-align: left;">&#160;</td></tr><tr style="vertical-align: bottom; background-color: white;"><td style="text-align: left; padding-bottom: 1.5pt;">Options to purchase shares of common stock</td><td style="padding-bottom: 1.5pt;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; text-align: left;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; text-align: right;">271,996</td><td style="padding-bottom: 1.5pt; text-align: left;">&#160;</td><td style="padding-bottom: 1.5pt;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; text-align: left;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; text-align: right;">-</td><td style="padding-bottom: 1.5pt; text-align: left;">&#160;</td></tr><tr style="vertical-align: bottom; background-color: #cceeff;"><td style="text-align: justify; padding-bottom: 4pt; padding-left: 10pt;">Total potentially dilutive securities</td><td style="padding-bottom: 4pt;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; text-align: left;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; text-align: right;">838,352</td><td style="padding-bottom: 4pt; text-align: left;">&#160;</td><td style="padding-bottom: 4pt;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; text-align: left;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; text-align: right;">-</td><td style="padding-bottom: 4pt; text-align: left;"></td></tr></table> <p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"></p><table align="center" style="font: 10pt/normal 'times new roman', times, serif; width: 1567px; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; border-collapse: collapse; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"><tr style="vertical-align: bottom;"><td style="padding-left: 0px;">&#160;</td><td style="padding-bottom: 1.5pt;">&#160;</td><td style="text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2">Quoted Prices in<br />Active Markets<br />for Identical<br />Assets or<br />Liabilities<br />(Level 1)</td><td style="padding-bottom: 1.5pt;">&#160;</td><td style="padding-bottom: 1.5pt;">&#160;</td><td style="text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2">Quoted Prices<br />for Similar<br />Assets or<br />Liabilities in<br />Active Markets<br />(Level 2)</td><td style="padding-bottom: 1.5pt;">&#160;</td><td style="padding-bottom: 1.5pt;">&#160;</td><td style="text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2">Significant<br />Unobservable<br />Inputs<br />(Level 3)</td><td style="padding-bottom: 1.5pt;">&#160;</td></tr><tr style="vertical-align: bottom; background-color: #cceeff;"><td style="width: 1003px; padding-bottom: 4pt; padding-left: 0px; text-indent: 0px;">Marketable securities at June 30, 2016</td><td style="width: 16px; padding-bottom: 4pt;">&#160;</td><td style="width: 16px; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; text-align: left;">$</td><td style="width: 142px; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; text-align: right;">3,076</td><td style="width: 16px; padding-bottom: 4pt; text-align: left;">&#160;</td><td style="width: 16px; padding-bottom: 4pt;">&#160;</td><td style="width: 16px; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; text-align: left;">$</td><td style="width: 141px; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; text-align: right;">&#160;&#160;&#160;-</td><td style="width: 15px; padding-bottom: 4pt; text-align: left;">&#160;</td><td style="width: 15px; padding-bottom: 4pt;">&#160;</td><td style="width: 15px; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; text-align: left;">$</td><td style="width: 141px; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; text-align: right;">&#160;&#160;&#160;-</td><td style="width: 15px; padding-bottom: 4pt; text-align: left;">&#160;</td></tr><tr style="vertical-align: bottom; background-color: white;"><td style="padding-left: 10pt;">&#160;</td><td>&#160;</td><td style="text-align: left;">&#160;</td><td style="text-align: right;">&#160;</td><td style="text-align: left;">&#160;</td><td>&#160;</td><td style="text-align: left;">&#160;</td><td style="text-align: right;">&#160;</td><td style="text-align: left;">&#160;</td><td>&#160;</td><td style="text-align: left;">&#160;</td><td style="text-align: right;">&#160;</td><td style="text-align: left;">&#160;</td></tr><tr style="vertical-align: bottom; background-color: #cceeff;"><td style="padding-bottom: 4pt; padding-left: 0px; text-indent: 0px;">Marketable securities at December 31, 2015</td><td style="padding-bottom: 4pt;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; text-align: left;">$</td><td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; text-align: right;">2,880</td><td style="padding-bottom: 4pt; text-align: left;">&#160;</td><td style="padding-bottom: 4pt;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; text-align: left;">$</td><td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; text-align: right;">&#160;&#160;&#160;-</td><td style="padding-bottom: 4pt; text-align: left;">&#160;</td><td style="padding-bottom: 4pt;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; text-align: left;">$</td><td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; text-align: right;">&#160;&#160;&#160;-</td><td style="padding-bottom: 4pt; text-align: left;"></td></tr></table> <p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"></p><table align="center" style="font: 10pt/normal 'times new roman', times, serif; width: 1567px; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; border-collapse: collapse; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"><tr style="vertical-align: bottom;"><td>&#160;</td><td style="padding-bottom: 1.5pt;">&#160;</td><td style="text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="6">For the Three and Six<br />Months Ended&#160;<br />June 30,</td><td style="padding-bottom: 1.5pt;">&#160;</td></tr><tr style="vertical-align: bottom;"><td>&#160;</td><td style="padding-bottom: 1.5pt;">&#160;</td><td style="text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2">2016</td><td style="padding-bottom: 1.5pt;">&#160;</td><td style="padding-bottom: 1.5pt;">&#160;</td><td style="text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2">2015</td><td style="padding-bottom: 1.5pt;">&#160;</td></tr><tr style="vertical-align: bottom; background-color: #cceeff;"><td style="width: 1191px; text-align: left;">Warrants to purchase shares of common stock</td><td style="width: 16px;">&#160;</td><td style="width: 16px; text-align: left;">&#160;</td><td style="width: 142px; text-align: right;">566,356</td><td style="width: 16px; text-align: left;">&#160;</td><td style="width: 15px;">&#160;</td><td style="width: 15px; text-align: left;">&#160;</td><td style="width: 141px; text-align: right;">-</td><td style="width: 15px; text-align: left;">&#160;</td></tr><tr style="vertical-align: bottom; background-color: white;"><td style="text-align: left; padding-bottom: 1.5pt;">Options to purchase shares of common stock</td><td style="padding-bottom: 1.5pt;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; text-align: left;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; text-align: right;">271,996</td><td style="padding-bottom: 1.5pt; text-align: left;">&#160;</td><td style="padding-bottom: 1.5pt;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; text-align: left;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; text-align: right;">-</td><td style="padding-bottom: 1.5pt; text-align: left;">&#160;</td></tr><tr style="vertical-align: bottom; background-color: #cceeff;"><td style="text-align: justify; padding-bottom: 4pt; padding-left: 10pt;">Total potentially dilutive securities</td><td style="padding-bottom: 4pt;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; text-align: left;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; text-align: right;">838,352</td><td style="padding-bottom: 4pt; text-align: left;">&#160;</td><td style="padding-bottom: 4pt;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; text-align: left;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; text-align: right;">-</td><td style="padding-bottom: 4pt; text-align: left;"></td></tr></table> <p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"><font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;">&#160;</font></p><table align="center" style="font: 10pt/normal 'times new roman', times, serif; width: 1567px; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; border-collapse: collapse; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"><tr style="vertical-align: bottom;"><td style="text-align: justify; padding-left: 0px;">&#160;</td><td style="padding-bottom: 1.5pt;">&#160;</td><td style="text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="6">As of:</td><td style="padding-bottom: 1.5pt;">&#160;</td></tr><tr style="vertical-align: bottom;"><td style="text-align: justify; padding-left: 0px;">&#160;</td><td style="padding-bottom: 1.5pt;">&#160;</td><td style="text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2">June 30,<br />2016</td><td style="padding-bottom: 1.5pt;">&#160;</td><td style="padding-bottom: 1.5pt;">&#160;</td><td style="text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2">December&#160;31,&#160;<br />2015</td><td style="padding-bottom: 1.5pt;">&#160;</td></tr><tr style="vertical-align: bottom; background-color: #cceeff;"><td style="width: 1191px; text-align: left; padding-left: 0px;">Land, building and improvements</td><td style="width: 16px;">&#160;</td><td style="width: 16px; text-align: left;">$</td><td style="width: 142px; text-align: right;">-</td><td style="width: 16px; text-align: left;">&#160;</td><td style="width: 15px;">&#160;</td><td style="width: 15px; text-align: left;">$</td><td style="width: 141px; text-align: right;">1,050,810</td><td style="width: 15px; text-align: left;">&#160;</td></tr><tr style="vertical-align: bottom; background-color: white;"><td style="text-align: left; padding-left: 0px;">Mineral properties</td><td>&#160;</td><td style="text-align: left;">&#160;</td><td style="text-align: right;">11,645,218</td><td style="text-align: left;">&#160;</td><td>&#160;</td><td style="text-align: left;">&#160;</td><td style="text-align: right;">11,645,218</td><td style="text-align: left;">&#160;</td></tr><tr style="vertical-align: bottom; background-color: #cceeff;"><td style="text-align: left; padding-left: 0px;">Ablation intellectual property</td><td>&#160;</td><td style="text-align: left;">&#160;</td><td style="text-align: right;">9,488,051</td><td style="text-align: left;">&#160;</td><td>&#160;</td><td style="text-align: left;">&#160;</td><td style="text-align: right;">9,488,051</td><td style="text-align: left;"></td></tr></table> <div>&#160;</div><table align="center" style="font: 10pt/normal 'times new roman', times, serif; width: 1567px; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; border-collapse: collapse; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"><tr style="vertical-align: bottom;"><td>&#160;</td><td style="font-weight: normal;">&#160;</td><td style="font-weight: normal; text-align: center;" colspan="2">As of&#160;<br />June 30,</td><td style="font-weight: normal;">&#160;</td><td>&#160;</td><td style="text-align: center;" colspan="2"><p style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; margin: 0px; text-align: center;"></p><p style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; margin: 0px; text-align: center;"><font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;">As of December&#160;&#160;31,</font></p></td><td>&#160;</td></tr><tr style="vertical-align: bottom;"><td>&#160;</td><td style="font-weight: normal; padding-bottom: 1.5pt;">&#160;</td><td style="font-weight: normal; text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2">2016</td><td style="padding-bottom: 1.5pt; font-weight: normal;">&#160;</td><td style="font-weight: normal; padding-bottom: 1.5pt;">&#160;</td><td style="font-weight: normal; text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2">2015</td><td style="padding-bottom: 1.5pt; font-weight: normal;">&#160;</td></tr><tr style="vertical-align: bottom; background-color: #cceeff;"><td style="width: 1191px; text-align: left;">Trade accounts payable</td><td style="width: 16px; font-weight: normal;">&#160;</td><td style="width: 16px; font-weight: normal; text-align: left;">$</td><td style="width: 142px; font-weight: normal; text-align: right;">489,459</td><td style="width: 16px; font-weight: normal; text-align: left;">&#160;</td><td style="width: 15px; font-weight: normal;">&#160;</td><td style="width: 15px; font-weight: normal; text-align: left;">$</td><td style="width: 141px; font-weight: normal; text-align: right;">520,530</td><td style="width: 15px; font-weight: normal; text-align: left;">&#160;</td></tr><tr style="vertical-align: bottom; background-color: white;"><td style="text-align: left; padding-bottom: 1.5pt;">Accrued liabilities</td><td style="font-weight: normal; padding-bottom: 1.5pt;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-weight: normal; text-align: left;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-weight: normal; text-align: right;">356,250</td><td style="padding-bottom: 1.5pt; font-weight: normal; text-align: left;">&#160;</td><td style="font-weight: normal; padding-bottom: 1.5pt;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-weight: normal; text-align: left;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-weight: normal; text-align: right;">304,571</td><td style="padding-bottom: 1.5pt; font-weight: normal; text-align: left;">&#160;</td></tr><tr style="vertical-align: bottom; background-color: #cceeff;"><td style="padding-bottom: 4pt;">&#160;</td><td style="font-weight: normal; padding-bottom: 4pt;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; font-weight: normal; text-align: left;">$</td><td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; font-weight: normal; text-align: right;">845,709</td><td style="padding-bottom: 4pt; font-weight: normal; text-align: left;">&#160;</td><td style="font-weight: normal; padding-bottom: 4pt;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; font-weight: normal; text-align: left;">$</td><td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; font-weight: normal; text-align: right;">825,101</td><td style="padding-bottom: 4pt; font-weight: normal; text-align: left;"></td></tr></table> <p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px;"><font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;">&#160;</font></p><table align="center" style="font: 10pt/normal 'times new roman', times, serif; width: 1567px; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; border-collapse: collapse; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"><tr style="vertical-align: bottom;"><td style="text-align: justify; padding-left: 0px; text-indent: 0px;">&#160;</td><td style="padding-bottom: 1.5pt; padding-left: 0px; text-indent: 0px;">&#160;</td><td style="text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; padding-left: 0px; text-indent: 0px;" colspan="18">As of June 30, 2016</td><td style="padding-bottom: 1.5pt; padding-left: 0px; text-indent: 0px;">&#160;</td></tr><tr style="vertical-align: bottom;"><td style="padding-left: 0px; text-indent: 0px;">&#160;</td><td style="padding-bottom: 1.5pt; padding-left: 0px; text-indent: 0px;">&#160;</td><td style="text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; padding-left: 0px; text-indent: 0px;" colspan="2">Principal</td><td style="padding-bottom: 1.5pt; padding-left: 0px; text-indent: 0px;">&#160;</td><td style="padding-bottom: 1.5pt; padding-left: 0px; text-indent: 0px;">&#160;</td><td style="text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; padding-left: 0px; text-indent: 0px;" colspan="2">Discount</td><td style="padding-bottom: 1.5pt; padding-left: 0px; text-indent: 0px;">&#160;</td><td style="padding-bottom: 1.5pt; padding-left: 0px; text-indent: 0px;">&#160;</td><td style="text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; padding-left: 0px; text-indent: 0px;" colspan="2">Balance, Net<br />of Discount</td><td style="padding-bottom: 1.5pt; padding-left: 0px; text-indent: 0px;">&#160;</td><td style="padding-bottom: 1.5pt; padding-left: 0px; text-indent: 0px;">&#160;</td><td style="text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; padding-left: 0px; text-indent: 0px;" colspan="2">Current</td><td style="padding-bottom: 1.5pt; padding-left: 0px; text-indent: 0px;">&#160;</td><td style="padding-bottom: 1.5pt; padding-left: 0px; text-indent: 0px;">&#160;</td><td style="text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; padding-left: 0px; text-indent: 0px;" colspan="2">Non-Current</td><td style="padding-bottom: 1.5pt; padding-left: 0px; text-indent: 0px;">&#160;</td></tr><tr style="vertical-align: bottom; background-color: #cceeff;"><td style="width: 784px; text-indent: 0px; padding-left: 0px;">EFHC</td><td style="width: 16px; padding-left: 0px; text-indent: 0px;">&#160;</td><td style="width: 16px; text-align: left; padding-left: 0px; text-indent: 0px;">$</td><td style="width: 110px; text-align: right; padding-left: 0px; text-indent: 0px;">500,000</td><td style="width: 16px; text-align: left; padding-left: 0px; text-indent: 0px;">&#160;</td><td style="width: 16px; padding-left: 0px; text-indent: 0px;">&#160;</td><td style="width: 16px; text-align: left; padding-left: 0px; text-indent: 0px;">$</td><td style="width: 110px; text-align: right; padding-left: 0px; text-indent: 0px;">40,967</td><td style="width: 16px; text-align: left; padding-left: 0px; text-indent: 0px;">&#160;</td><td style="width: 16px; padding-left: 0px; text-indent: 0px;">&#160;</td><td style="width: 16px; text-align: left; padding-left: 0px; text-indent: 0px;">$</td><td style="width: 110px; text-align: right; padding-left: 0px; text-indent: 0px;">459,033</td><td style="width: 16px; text-align: left; padding-left: 0px; text-indent: 0px;">&#160;</td><td style="width: 16px; padding-left: 0px; text-indent: 0px;">&#160;</td><td style="width: 15px; text-align: left; padding-left: 0px; text-indent: 0px;">$</td><td style="width: 109px; text-align: right; padding-left: 0px; text-indent: 0px;">-</td><td style="width: 15px; text-align: left; padding-left: 0px; text-indent: 0px;">&#160;</td><td style="width: 15px; padding-left: 0px; text-indent: 0px;">&#160;</td><td style="width: 15px; text-align: left; padding-left: 0px; text-indent: 0px;">$</td><td style="width: 109px; text-align: right; padding-left: 0px; text-indent: 0px;">459,033</td><td style="width: 15px; text-align: left; padding-left: 0px; text-indent: 0px;">&#160;</td></tr><tr style="vertical-align: bottom; background-color: white;"><td style="text-indent: 0px; padding-left: 0px;">Nueco</td><td style="padding-left: 0px; text-indent: 0px;">&#160;</td><td style="text-align: left; padding-left: 0px; text-indent: 0px;">&#160;</td><td style="text-align: right; padding-left: 0px; text-indent: 0px;">279,220</td><td style="text-align: left; padding-left: 0px; text-indent: 0px;">&#160;</td><td style="padding-left: 0px; text-indent: 0px;">&#160;</td><td style="text-align: left; padding-left: 0px; text-indent: 0px;">&#160;</td><td style="text-align: right; padding-left: 0px; text-indent: 0px;">3,800</td><td style="text-align: left; padding-left: 0px; text-indent: 0px;">&#160;</td><td style="padding-left: 0px; text-indent: 0px;">&#160;</td><td style="text-align: left; padding-left: 0px; text-indent: 0px;">&#160;</td><td style="text-align: right; padding-left: 0px; text-indent: 0px;">275,420</td><td style="text-align: left; padding-left: 0px; text-indent: 0px;">&#160;</td><td style="padding-left: 0px; text-indent: 0px;">&#160;</td><td style="text-align: left; padding-left: 0px; text-indent: 0px;">&#160;</td><td style="text-align: right; padding-left: 0px; text-indent: 0px;">275,420</td><td style="text-align: left; padding-left: 0px; text-indent: 0px;">&#160;</td><td style="padding-left: 0px; text-indent: 0px;">&#160;</td><td style="text-align: left; padding-left: 0px; text-indent: 0px;">&#160;</td><td style="text-align: right; padding-left: 0px; text-indent: 0px;">-</td><td style="text-align: left; padding-left: 0px; text-indent: 0px;">&#160;</td></tr><tr style="vertical-align: bottom; background-color: #cceeff;"><td style="padding-bottom: 1.5pt; padding-left: 0px; text-indent: 0px;">Siebels</td><td style="padding-bottom: 1.5pt; padding-left: 0px; text-indent: 0px;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; text-align: left; padding-left: 0px; text-indent: 0px;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; text-align: right; padding-left: 0px; text-indent: 0px;">264,020</td><td style="padding-bottom: 1.5pt; text-align: left; padding-left: 0px; text-indent: 0px;">&#160;</td><td style="padding-bottom: 1.5pt; padding-left: 0px; text-indent: 0px;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; text-align: left; padding-left: 0px; text-indent: 0px;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; text-align: right; padding-left: 0px; text-indent: 0px;">-</td><td style="padding-bottom: 1.5pt; text-align: left; padding-left: 0px; text-indent: 0px;">&#160;</td><td style="padding-bottom: 1.5pt; padding-left: 0px; text-indent: 0px;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; text-align: left; padding-left: 0px; text-indent: 0px;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; text-align: right; padding-left: 0px; text-indent: 0px;">264,020</td><td style="padding-bottom: 1.5pt; text-align: left; padding-left: 0px; text-indent: 0px;">&#160;</td><td style="padding-bottom: 1.5pt; padding-left: 0px; text-indent: 0px;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; text-align: left; padding-left: 0px; text-indent: 0px;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; text-align: right; padding-left: 0px; text-indent: 0px;">264,020</td><td style="padding-bottom: 1.5pt; text-align: left; padding-left: 0px; text-indent: 0px;">&#160;</td><td style="padding-bottom: 1.5pt; padding-left: 0px; text-indent: 0px;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; text-align: left; padding-left: 0px; text-indent: 0px;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; text-align: right; padding-left: 0px; text-indent: 0px;">-</td><td style="padding-bottom: 1.5pt; text-align: left; padding-left: 0px; text-indent: 0px;">&#160;</td></tr><tr style="vertical-align: bottom; background-color: white;"><td style="padding-bottom: 4pt; text-indent: 0px; padding-left: 10pt;">Total</td><td style="padding-bottom: 4pt; padding-left: 0px; text-indent: 0px;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; text-align: left; padding-left: 0px; text-indent: 0px;">$</td><td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; text-align: right; padding-left: 0px; text-indent: 0px;">1,043,240</td><td style="padding-bottom: 4pt; text-align: left; padding-left: 0px; text-indent: 0px;">&#160;</td><td style="padding-bottom: 4pt; padding-left: 0px; text-indent: 0px;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; text-align: left; padding-left: 0px; text-indent: 0px;">$</td><td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; text-align: right; padding-left: 0px; text-indent: 0px;">44,767</td><td style="padding-bottom: 4pt; text-align: left; padding-left: 0px; text-indent: 0px;">&#160;</td><td style="padding-bottom: 4pt; padding-left: 0px; text-indent: 0px;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; text-align: left; padding-left: 0px; text-indent: 0px;">$</td><td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; text-align: right; padding-left: 0px; text-indent: 0px;">998,473</td><td style="padding-bottom: 4pt; text-align: left; padding-left: 0px; text-indent: 0px;">&#160;</td><td style="padding-bottom: 4pt; padding-left: 0px; text-indent: 0px;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; text-align: left; padding-left: 0px; text-indent: 0px;">$</td><td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; text-align: right; padding-left: 0px; text-indent: 0px;">539,440</td><td style="padding-bottom: 4pt; text-align: left; padding-left: 0px; text-indent: 0px;">&#160;</td><td style="padding-bottom: 4pt; padding-left: 0px; text-indent: 0px;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; text-align: left; padding-left: 0px; text-indent: 0px;">$</td><td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; text-align: right; padding-left: 0px; text-indent: 0px;">459,033</td><td style="padding-bottom: 4pt; text-align: left; padding-left: 0px; text-indent: 0px;">&#160;</td></tr></table><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px;"><font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;"><br /></font></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px;"><font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;">&#160;</font></p><table align="center" style="font: 10pt/normal 'times new roman', times, serif; width: 1567px; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; border-collapse: collapse; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"><tr style="vertical-align: bottom;"><td style="text-align: justify;">&#160;</td><td style="padding-bottom: 1.5pt;">&#160;</td><td style="text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="18">As of December 31, 2015</td><td style="padding-bottom: 1.5pt;">&#160;</td></tr><tr style="vertical-align: bottom;"><td>&#160;</td><td style="padding-bottom: 1.5pt;">&#160;</td><td style="text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2">Principal</td><td style="padding-bottom: 1.5pt;">&#160;</td><td style="padding-bottom: 1.5pt;">&#160;</td><td style="text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2">Discount</td><td style="padding-bottom: 1.5pt;">&#160;</td><td style="padding-bottom: 1.5pt;">&#160;</td><td style="text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2">Balance, Net<br />of Discount</td><td style="padding-bottom: 1.5pt;">&#160;</td><td style="padding-bottom: 1.5pt;">&#160;</td><td style="text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2">Current</td><td style="padding-bottom: 1.5pt;">&#160;</td><td style="padding-bottom: 1.5pt;">&#160;</td><td style="text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2">Non-Current</td><td style="padding-bottom: 1.5pt;">&#160;</td></tr><tr style="vertical-align: bottom; background-color: #cceeff;"><td style="width: 772.609375px; text-indent: -8.55pt; padding-left: 8.55pt;">EFHC</td><td style="width: 16px;">&#160;</td><td style="width: 16px; text-align: left;">$</td><td style="width: 110px; text-align: right;">500,000</td><td style="width: 16px; text-align: left;">&#160;</td><td style="width: 16px;">&#160;</td><td style="width: 16px; text-align: left;">$</td><td style="width: 110px; text-align: right;">50,016</td><td style="width: 16px; text-align: left;">&#160;</td><td style="width: 16px;">&#160;</td><td style="width: 16px; text-align: left;">$</td><td style="width: 110px; text-align: right;">449,984</td><td style="width: 16px; text-align: left;">&#160;</td><td style="width: 16px;">&#160;</td><td style="width: 15px; text-align: left;">$</td><td style="width: 109px; text-align: right;">-</td><td style="width: 15px; text-align: left;">&#160;</td><td style="width: 15px;">&#160;</td><td style="width: 15px; text-align: left;">$</td><td style="width: 109px; text-align: right;">449,984</td><td style="width: 15px; text-align: left;">&#160;</td></tr><tr style="vertical-align: bottom; background-color: white;"><td style="text-indent: -8.55pt; padding-left: 8.55pt;">Nueco</td><td>&#160;</td><td style="text-align: left;">&#160;</td><td style="text-align: right;">250,180</td><td style="text-align: left;">&#160;</td><td>&#160;</td><td style="text-align: left;">&#160;</td><td style="text-align: right;">-</td><td style="text-align: left;">&#160;</td><td>&#160;</td><td style="text-align: left;">&#160;</td><td style="text-align: right;">250,180</td><td style="text-align: left;">&#160;</td><td>&#160;</td><td style="text-align: left;">&#160;</td><td style="text-align: right;">250,180</td><td style="text-align: left;">&#160;</td><td>&#160;</td><td style="text-align: left;">&#160;</td><td style="text-align: right;">-</td><td style="text-align: left;">&#160;</td></tr><tr style="vertical-align: bottom; background-color: #cceeff;"><td style="padding-bottom: 1.5pt;">Siebels</td><td style="padding-bottom: 1.5pt;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; text-align: left;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; text-align: right;">240,013</td><td style="padding-bottom: 1.5pt; text-align: left;">&#160;</td><td style="padding-bottom: 1.5pt;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; text-align: left;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; text-align: right;">-</td><td style="padding-bottom: 1.5pt; text-align: left;">&#160;</td><td style="padding-bottom: 1.5pt;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; text-align: left;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; text-align: right;">240,013</td><td style="padding-bottom: 1.5pt; text-align: left;">&#160;</td><td style="padding-bottom: 1.5pt;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; text-align: left;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; text-align: right;">240,013</td><td style="padding-bottom: 1.5pt; text-align: left;">&#160;</td><td style="padding-bottom: 1.5pt;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; text-align: left;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; text-align: right;">-</td><td style="padding-bottom: 1.5pt; text-align: left;">&#160;</td></tr><tr style="vertical-align: bottom; background-color: white;"><td style="padding-bottom: 4pt; text-indent: -8.55pt; padding-left: 20pt;">Total</td><td style="padding-bottom: 4pt;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; text-align: left;">$</td><td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; text-align: right;">990,193</td><td style="padding-bottom: 4pt; text-align: left;">&#160;</td><td style="padding-bottom: 4pt;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; text-align: left;">$</td><td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; text-align: right;">50,016</td><td style="padding-bottom: 4pt; text-align: left;">&#160;</td><td style="padding-bottom: 4pt;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; text-align: left;">$</td><td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; text-align: right;">940,177</td><td style="padding-bottom: 4pt; text-align: left;">&#160;</td><td style="padding-bottom: 4pt;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; text-align: left;">$</td><td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; text-align: right;">490,193</td><td style="padding-bottom: 4pt; text-align: left;">&#160;</td><td style="padding-bottom: 4pt;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; text-align: left;">$</td><td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; text-align: right;">449,984</td><td style="padding-bottom: 4pt; text-align: left;"></td></tr></table> <p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px 0px 0px 35.95pt; text-align: justify;"></p><table align="center" style="font: 10pt/normal 'times new roman', times, serif; width: 1567px; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; border-collapse: collapse; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"><tr style="vertical-align: bottom;"><td>&#160;</td><td style="padding-bottom: 1.5pt;">&#160;</td><td style="text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="6"><p style="margin-top: 0px; margin-bottom: 0px;">For the Three<br />Months Ended&#160;<br />June 30,</p></td><td style="padding-bottom: 1.5pt;">&#160;</td><td style="padding-bottom: 1.5pt;">&#160;</td><td style="text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="6">For the Six&#160;<br />Months&#160;Ended&#160;<br />June 30,</td><td style="padding-bottom: 1.5pt;">&#160;</td></tr><tr style="vertical-align: bottom;"><td>&#160;</td><td style="padding-bottom: 1.5pt;">&#160;</td><td style="text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2">2016</td><td style="padding-bottom: 1.5pt;">&#160;</td><td style="padding-bottom: 1.5pt;">&#160;</td><td style="text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2">2015</td><td style="padding-bottom: 1.5pt;">&#160;</td><td style="padding-bottom: 1.5pt;">&#160;</td><td style="text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2">2016</td><td style="padding-bottom: 1.5pt;">&#160;</td><td style="padding-bottom: 1.5pt;">&#160;</td><td style="text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2">2015</td><td style="padding-bottom: 1.5pt;">&#160;</td></tr><tr style="vertical-align: bottom; background-color: #cceeff;"><td style="width: 815px;">Permits</td><td style="width: 16px;">&#160;</td><td style="width: 16px; text-align: left;">$</td><td style="width: 142px; text-align: right;">67,188</td><td style="width: 16px; text-align: left;">&#160;</td><td style="width: 16px;">&#160;</td><td style="width: 16px; text-align: left;">$</td><td style="width: 142px; text-align: right;">37,610</td><td style="width: 16px; text-align: left;">&#160;</td><td style="width: 15px;">&#160;</td><td style="width: 15px; text-align: left;">$</td><td style="width: 141px; text-align: right;">116,374</td><td style="width: 15px; text-align: left;">&#160;</td><td style="width: 15px;">&#160;</td><td style="width: 15px; text-align: left;">$</td><td style="width: 141px; text-align: right;">66,335</td><td style="width: 15px; text-align: left;">&#160;</td></tr><tr style="vertical-align: bottom; background-color: white;"><td>Maintenance</td><td>&#160;</td><td style="text-align: left;">&#160;</td><td style="text-align: right;">43,824</td><td style="text-align: left;">&#160;</td><td>&#160;</td><td style="text-align: left;">&#160;</td><td style="text-align: right;">11,410</td><td style="text-align: left;">&#160;</td><td>&#160;</td><td style="text-align: left;">&#160;</td><td style="text-align: right;">81,678</td><td style="text-align: left;">&#160;</td><td>&#160;</td><td style="text-align: left;">&#160;</td><td style="text-align: right;">24,365</td><td style="text-align: left;">&#160;</td></tr><tr style="vertical-align: bottom; background-color: #cceeff;"><td style="text-align: left;">Contract Labor</td><td>&#160;</td><td style="text-align: left;">&#160;</td><td style="text-align: right;">3,975</td><td style="text-align: left;">&#160;</td><td>&#160;</td><td style="text-align: left;">&#160;</td><td style="text-align: right;">-</td><td style="text-align: left;">&#160;</td><td>&#160;</td><td style="text-align: left;">&#160;</td><td style="text-align: right;">6,535</td><td style="text-align: left;">&#160;</td><td>&#160;</td><td style="text-align: left;">&#160;</td><td style="text-align: right;">-</td><td style="text-align: left;">&#160;</td></tr><tr style="vertical-align: bottom; background-color: white;"><td style="padding-bottom: 1.5pt;">Royalties</td><td style="padding-bottom: 1.5pt;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; text-align: left;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; text-align: right;">3,750</td><td style="padding-bottom: 1.5pt; text-align: left;">&#160;</td><td style="padding-bottom: 1.5pt;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; text-align: left;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; text-align: right;">-</td><td style="padding-bottom: 1.5pt; text-align: left;">&#160;</td><td style="padding-bottom: 1.5pt;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; text-align: left;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; text-align: right;">7,500</td><td style="padding-bottom: 1.5pt; text-align: left;">&#160;</td><td style="padding-bottom: 1.5pt;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; text-align: left;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; text-align: right;">-</td><td style="padding-bottom: 1.5pt; text-align: left;">&#160;</td></tr><tr style="vertical-align: bottom; background-color: #cceeff;"><td style="padding-bottom: 4pt;">&#160;</td><td style="padding-bottom: 4pt;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; text-align: left;">$</td><td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; text-align: right;">118,737</td><td style="padding-bottom: 4pt; text-align: left;">&#160;</td><td style="padding-bottom: 4pt;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; text-align: left;">$</td><td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; text-align: right;">49,020</td><td style="padding-bottom: 4pt; text-align: left;">&#160;</td><td style="padding-bottom: 4pt;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; text-align: left;">$</td><td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; text-align: right;">212,087</td><td style="padding-bottom: 4pt; text-align: left;">&#160;</td><td style="padding-bottom: 4pt;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; text-align: left;">$</td><td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; text-align: right;">90,700</td><td style="padding-bottom: 4pt; text-align: left;"></td></tr></table> 1.00 1.00 Each unit shall consist of one common share of the Company and one warrant at an exercise price of CAD $2.80 which expire five years after the date of issuance. Each unit shall consist of one common share of the Company and one warrant at an exercise price of CAD $2.80 which expire five years after the date of issuance. 1665019 198298 275000 300000 18236 25000 622174 791090 1.70 1.70 838352 566356 271996 838352 566356 271996 P25Y 520530 489459 304571 356250 258423 990193 500000 250180 240013 1043240 500000 279220 264020 100000 50016 50016 44767 40967 3800 940177 449984 250180 240013 998473 459033 275420 264020 500000 250180 250000 100000 0.07 0.06 0.160 0.18 0.06 0.180 0.0800 0.07 0.030 0.04 73971 23724 2018-08-18 2014-12-20 2015-12-15 2016-01-13 2016-06-20 2016-04-22 2016-07-31 2016-01-16 250180 In connection with the extension, the Company agreed to add interest from the date of October 13, 2015 until the date paid at the annual rate of one percent (1%) per annum. On December 16, 2015 the Company and the lender agreed to extend the maturity of the Siebels Note until June 16, 2016. 25384 0.10 5000 5000 31756 31756 45076 45076 217185 39273 237265 59353 8333 13477 11085 1044015 1036286 1036286 The Company expects to begin incurring the reclamation liability after 2054 and accordingly, has discounted the gross liabilities over a thirty year life. 0.054 200129 400543 1036286 174412 3.50 2.60 101009 101009 2.14 2.97 1.34 1.70 2.12 2.76 566356 P3Y7D 566356 1.59 271996 4.91 6.39 P3Y6M7D P4Y9M15D P5Y P5Y 37610 66335 67188 116374 11410 24365 43824 81678 3975 6535 3750 7500 8333 17687 25000 27357 50000 100000 9227 25000 18472 50000 1601 6258 6500 1538 3079 0 5074 14833 7500 0 6500 500000 105000 372000 100000 0 EX-101.SCH 6 wuc-20160630.xsd XBRL SCHEMA FILE 001 - Document - Document and Entity Information link:presentationLink link:definitionLink link:calculationLink 002 - Statement - Condensed Consolidated Balance Sheets link:presentationLink link:definitionLink link:calculationLink 003 - Statement - Condensed Consolidated Balance Sheets (Parenthetical) link:presentationLink link:definitionLink link:calculationLink 004 - Statement - Condensed Consolidated Statements of Operations and Other Comprehensive Loss (Unaudited) link:presentationLink link:definitionLink link:calculationLink 005 - Statement - Condensed Consolidated Statements of Shareholders' Equity (Unaudited) link:presentationLink link:definitionLink link:calculationLink 006 - Statement - Condensed Consolidated Statements of Shareholders' Equity (Parenthetical) (Unaudited) link:presentationLink link:definitionLink link:calculationLink 007 - Statement - Condensed Consolidated Statements of Cash Flows (Unaudited) link:presentationLink link:definitionLink link:calculationLink 008 - Disclosure - Business link:presentationLink link:definitionLink link:calculationLink 009 - Disclosure - Liquidity and Going Concern link:presentationLink link:definitionLink link:calculationLink 010 - Disclosure - Summary of Significant Accounting Policies link:presentationLink link:definitionLink link:calculationLink 011 - Disclosure - Recent Accounting Pronouncements link:presentationLink link:definitionLink link:calculationLink 012 - Disclosure - Mineral Assets, Ablation Intellectual Property and Other Property link:presentationLink link:definitionLink link:calculationLink 013 - Disclosure - Accounts Payable and Accrued Liabilities link:presentationLink link:definitionLink link:calculationLink 014 - Disclosure - Notes Payable link:presentationLink link:definitionLink link:calculationLink 015 - Disclosure - Mortgage link:presentationLink link:definitionLink link:calculationLink 016 - Disclosure - Reclamation Liability link:presentationLink link:definitionLink link:calculationLink 017 - Disclosure - Share Capital and Other Equity Instruments link:presentationLink link:definitionLink link:calculationLink 018 - Disclosure - Mining Expenditures link:presentationLink link:definitionLink link:calculationLink 019 - Disclosure - Related Party Transactions (Including key Management Compensation) link:presentationLink link:definitionLink link:calculationLink 020 - Disclosure - Subsequent Events link:presentationLink link:definitionLink link:calculationLink 021 - Disclosure - Summary of Significant Accounting Policies (Policies) link:presentationLink link:definitionLink link:calculationLink 022 - Disclosure - Summary of Significant Accounting Policies (Tables) link:presentationLink link:definitionLink link:calculationLink 023 - Disclosure - Mineral Assets Ablation Intellectual Property and Other Property (Tables) link:presentationLink link:definitionLink link:calculationLink 024 - Disclosure - Accounts Payable and Accrued Liabilities (Tables) link:presentationLink link:definitionLink link:calculationLink 025 - Disclosure - Notes Payable (Tables) link:presentationLink link:definitionLink link:calculationLink 026 - Disclosure - Mining Expenditures (Tables) link:presentationLink link:definitionLink link:calculationLink 027 - Disclosure - Business (Details) link:presentationLink link:definitionLink link:calculationLink 028 - Disclosure - Liquidity and Going Concern (Details) link:presentationLink link:definitionLink link:calculationLink 029 - Disclosure - Summary of Significant Accounting Policies (Details) link:presentationLink link:definitionLink link:calculationLink 030 - Disclosure - Summary of Significant Accounting Policies (Details 1) link:presentationLink link:definitionLink link:calculationLink 031 - Disclosure - Mineral Assets Ablation Intellectual Property and Other Property (Details) link:presentationLink link:definitionLink link:calculationLink 032 - Disclosure - Mineral Assets Ablation Intellectual Property and Other Property (Details Textual) link:presentationLink link:definitionLink link:calculationLink 033 - Disclosure - Accounts Payable and Accrued Liabilities (Details) link:presentationLink link:definitionLink link:calculationLink 034 - Disclosure - Notes Payable (Details) link:presentationLink link:definitionLink link:calculationLink 035 - Disclosure - Notes Payable (Details Textual) link:presentationLink link:definitionLink link:calculationLink 036 - Disclosure - Mortgage (Details) link:presentationLink link:definitionLink link:calculationLink 037 - Disclosure - Reclamation Liability (Details) link:presentationLink link:definitionLink link:calculationLink 038 - Disclosure - Share Capital and Other Equity Instruments (Details) link:presentationLink link:definitionLink link:calculationLink 039 - Disclosure - Mining Expenditures (Details) link:presentationLink link:definitionLink link:calculationLink 040 - Disclosure - Related Party Transactions (Including key Management Compensation) (Details) link:presentationLink link:definitionLink link:calculationLink 041 - Disclosure - Subsequent Events (Details) link:presentationLink link:definitionLink link:calculationLink EX-101.CAL 7 wuc-20160630_cal.xml XBRL CALCULATION FILE EX-101.DEF 8 wuc-20160630_def.xml XBRL DEFINITION FILE EX-101.LAB 9 wuc-20160630_lab.xml XBRL LABEL FILE EX-101.PRE 10 wuc-20160630_pre.xml XBRL PRESENTATION FILE XML 11 R1.htm IDEA: XBRL DOCUMENT v3.5.0.2
Document and Entity Information - shares
6 Months Ended
Jun. 30, 2016
Aug. 12, 2016
Document And Entity Information [Abstract]    
Entity Registrant Name Western Uranium Corp  
Entity Central Index Key 0001621906  
Amendment Flag false  
Current Fiscal Year End Date --12-31  
Document Type 10-Q  
Document Period End Date Jun. 30, 2016  
Document Fiscal Year Focus 2016  
Document Fiscal Period Focus Q2  
Entity Filer Category Smaller Reporting Company  
Entity Common Stock, Shares Outstanding   16,797,089
XML 12 R2.htm IDEA: XBRL DOCUMENT v3.5.0.2
Condensed Consolidated Balance Sheets - USD ($)
Jun. 30, 2016
Dec. 31, 2015
Current assets:    
Cash $ 22,163 $ 214,482
Prepaid expenses 37,164 119,656
Marketable securities 3,076 2,880
Restricted cash, current portion 215,976
Other current assets 29,727 15,774
Total current assets 308,106 352,792
Land, buildings and improvements 1,050,810
Restricted cash, net of current portion 820,310 1,036,286
Mineral properties 11,645,218 11,645,218
Ablation intellectual property 9,488,051 9,488,051
Total assets 22,261,685 23,573,157
Current liabilities:    
Accounts payable and accrued liabilities 845,709 825,101
Mortgage payable 1,051,000
Deferred contingent consideration 372,000 500,000
Subscription payable 198,298
Current portion of reclamation liability 215,976
Current portion of notes payable 539,440 490,193
Total current liabilities 1,973,125 3,064,592
Reclamation liability, net of current portion 184,567 220,129
Deferred tax liability 4,063,330 4,063,330
Notes payable, net of discount and current portion 459,033 449,984
Total liabilities 6,680,055 7,798,035
Shareholders' Equity    
Common stock, no par value, unlimited authorized shares, 16,797,089 and 16,230,733 shares issued and outstanding at June 30, 2016 and December 31, 2015, respectively 18,496,750 17,658,042
Accumulated deficit (2,929,980) (1,951,564)
Accumulated other comprehensive income 14,860 68,644
Total shareholders' equity 15,581,630 15,775,122
Total liabilities and shareholders' equity $ 22,261,685 $ 23,573,157
XML 13 R3.htm IDEA: XBRL DOCUMENT v3.5.0.2
Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares
6 Months Ended 12 Months Ended
Jun. 30, 2016
Dec. 31, 2015
Statement of Financial Position [Abstract]    
Common stock, no par value
Common stock, shares authorized Unlimited Unlimited
Common stock, shares issued 16,797,089 16,230,733
Common stock, shares outstanding 16,797,089 16,230,733
XML 14 R4.htm IDEA: XBRL DOCUMENT v3.5.0.2
Condensed Consolidated Statements of Operations and Other Comprehensive Loss (Unaudited) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Jun. 30, 2016
Jun. 30, 2015
Expenses        
Mining expenditures $ 118,737 $ 49,020 $ 212,087 $ 90,700
Professional fees 290,985 124,534 326,092 200,766
General and administrative 137,846 88,535 174,103 118,221
Consulting fees 113,999 33,016 156,869 75,738
Unrealized foreign exchange gain (128,000) (128,000)
Loss from operations (533,567) (295,105) (741,151) (485,425)
Accretion and interest expense 217,185 31,756 237,265 45,076
Net loss (750,752) (326,861) (978,416) (530,501)
Other comprehensive loss        
Foreign exchange (loss) gain (22,528) 6,694 (53,784) (1,997)
Comprehensive Loss $ (773,280) $ (320,167) $ (1,032,200) $ (532,498)
Loss per share - basic and diluted $ (0.05) $ (0.03) $ (0.06) $ (0.04)
Weighted average shares outstanding, basic and diluted 16,621,904 11,916,703 16,474,603 12,036,924
XML 15 R5.htm IDEA: XBRL DOCUMENT v3.5.0.2
Condensed Consolidated Statements of Shareholders' Equity (Unaudited) - 6 months ended Jun. 30, 2016 - USD ($)
Total
Common Shares
Accumulated Deficit
Accumulated Comprehensive Other Income
Balance at Dec. 31, 2015 $ 15,775,122 $ 17,658,042 $ (1,951,564) $ 68,644
Balance, shares at Dec. 31, 2015   16,230,733    
Issuance of 101,009 shares of common stock 216,534 $ 216,534
Issuance of 101,009 shares of common stock, shares   101,009    
Issuance of 465,347 shares of common stock 622,174 $ 622,174
Issuance of 465,347 shares of common stock, shares   465,347    
Foreign exchange loss (53,784) (53,784)
Net loss (978,416) (978,416)
Balance at Jun. 30, 2016 $ 15,581,630 $ 18,496,750 $ (2,929,980) $ 14,860
Balance, shares at Jun. 30, 2016   16,797,089    
XML 16 R6.htm IDEA: XBRL DOCUMENT v3.5.0.2
Condensed Consolidated Statements of Shareholders' Equity (Parenthetical) (Unaudited) - Common Shares
6 Months Ended
Jun. 30, 2016
shares
Issuance of common stock 101,009
Issuance of common stock 465,347
XML 17 R7.htm IDEA: XBRL DOCUMENT v3.5.0.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Cash Flows From Operating Activities:    
Net loss $ (978,416) $ (530,501)
Reconciliation of net loss to cash used in operating activities:    
Accretion of reclamation liability 180,414 25,634
Amortization of debt discount on notes payable 58,296 18,536
Change in foreign exchange on marketable securities (196)
Change in operating assets and liabilities:    
Accounts receivable (22,916)
Prepaid expenses and other current assets 68,539 47,428
Restricted cash (144)
Deferred contingent consideration (128,000)  
Accounts payable and accrued liabilities 20,418 (8,794)
Net cash used in operating activities (778,945) (470,757)
Cash Flows From Investing Activities:    
Purchase of property and equipment (21,810)
Advance on Credit Facility to Black Range (316,349)
Net cash used in investing activities (338,159)
Cash Flows From Financing Activities:    
Payment of Nueco Note (253,346)
Payment of Siebels Note (100,000)
Proceeds from the sale of common stock in private placements, net of offering costs 640,410 1,353,793
Proceeds from Siebels Note 100,000
Net cash provided by financing activities 640,410 1,100,447
Effect of foreign exchange rate on cash (53,784) (1,997)
Net (decrease) increase in cash (192,319) 289,534
Cash - beginning 214,482 172,909
Cash - ending 22,163 462,443
Cash paid during the period for:    
Interest 3,000
Non-cash financing activities:    
Shares issued from subscription payable 198,298
Exchange of mortgage payable for land & buildings $ 1,051,000
XML 18 R8.htm IDEA: XBRL DOCUMENT v3.5.0.2
Business
6 Months Ended
Jun. 30, 2016
Business [Abstract]  
BUSINESS

NOTE 1 - BUSINESS

 

Nature of operations

  

Western Uranium Corporation ("Western” or the “Company") was incorporated in December 2006 under the Ontario Business Corporations Act. On November 20, 2014, the Company completed a listing process on the Canadian Securities Exchange ("CSE"). As part of that process, the Company acquired 100% of the members' interests of Pinon Ridge Mining LLC ("PRM"), a Delaware limited liability company. The transaction constituted a reverse takeover ("RTO") of Western by PRM. Subsequent to obtaining appropriate shareholder approvals, the Company reconstituted its Board of Directors and senior management team. Effective September 16, 2015, Western completed its acquisition of Black Range Minerals Limited (“Black Range”).

 

The Company has registered offices at 10 King Street East, Suite 700, Toronto, Ontario, Canada, M5C 1C3 and its common shares are listed on the CSE under the symbol "WUC." On April 22, 2016, the Company’s shares of common stock began trading on the OTC Pink, and on May 23, 2016, the Company’s shares of common stock was approved for the commencement of trading on the OTCQX Best Market. Its principal business activity is the acquisition and development of uranium resource properties in the states of Utah and Colorado in the United States of America ("USA").

 

On June 28, 2016, the Company’s registration statement became effective and Western became a U.S. reporting issuer. Thereafter, the Company was approved for DTC eligibility through the Depository Trust and Clearing Corporation (DTCC), which facilitates electronic book– entry delivery, settlement and depository services for shares in the U.S.

XML 19 R9.htm IDEA: XBRL DOCUMENT v3.5.0.2
Liquidity and Going Concern
6 Months Ended
Jun. 30, 2016
Liquidity and Going Concern [Abstract]  
LIQUIDITY AND GOING CONCERN

NOTE 2 - LIQUIDITY AND GOING CONCERN

 

The Company has incurred continuing losses from its operations and as of June 30, 2016 the Company has an accumulated deficit of $2,929,980 and a working capital deficit of $1,665,019.

 

Since inception, the Company has met its liquidity requirements principally through the issuance of notes and the sale of its shares of common stock.

 

The Company’s ability to continue its operations and to pay its obligations when they become due is contingent upon the Company obtaining additional financing. Management’s plans include seeking to procure additional funds through debt and equity financings and to initiate the processing of ore to generate operating cash flows.

 

There are no assurances that the Company will be able to raise capital on terms acceptable to the Company or at all, or that cash flows generated from its operations will be sufficient to meet its current operating costs and required debt service. If the Company is unable to obtain sufficient amounts of additional capital, it may be required to reduce the scope of its planned product development, which could harm its financial condition and operating results, or it may not be able to continue to fund its ongoing operations. These conditions raise substantial doubt about the Company’s ability to continue as a going concern. These financial statements do not include any adjustments that might result from the outcome of these uncertainties.

 

Pursuant to the Company’s capital raising objectives, during April and May 2016 the Company raised CAD $791,090 (US $622,174) in a private placement (see note 10).

 

On June 29, 2016 the Company announced a private placement for the issuance of up to 1,909,855 units at CAD $1.70 per unit for total gross proceeds of USD up to $2,500,000. Each unit shall consist of one common share of the Company and one warrant at an exercise price of CAD $2.80 which expire five years after the date of issuance. The Company intends to use this capital raise to pay the costs of the acquisition of Black Range, to fund the development of the Company’s ablation technology, to fund mine production preparation, to pay down certain of the Company’s notes payable, and for working capital purposes (see note 13).

XML 20 R10.htm IDEA: XBRL DOCUMENT v3.5.0.2
Summary of Significant Accounting Policies
6 Months Ended
Jun. 30, 2016
Summary of Significant Accounting Policies [Abstract]  
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

NOTE 3 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

 

Basis of Presentation and Principles of Consolidation

 

The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (“U.S. GAAP”) for interim financial information and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. In the opinion of management, all adjustments (consisting of normal accruals) considered for a fair presentation have been included. Operating results for the three and six months ended June 30, 2016 are not necessarily indicative of the results that may be expected for the year ending December 31, 2016. These condensed financial statements should be read in conjunction with the consolidated financial statements for the year ended December 31, 2015 and related notes thereto which were included in the Company’s form 10-12G filed with the Securities and Exchange Commission on July 22, 2016.

 

The accompanying unaudited condensed consolidated financial statements include the accounts of Western and its wholly-owned subsidiaries, Western Uranium Corp., Pinon Ridge Mining LLC, Black Range Minerals Limited, Black Range Copper Inc., Ranger Resources Inc., Black Range Minerals Inc., Black Range Minerals Colorado LLC, Black Range Minerals Wyoming LLC, Haggerty Resources LLC, Ranger Alaska LLC, Black Range Minerals Utah LLC, Black Range Minerals Ablation Holdings Inc. and Black Range Development Utah LLC. All significant inter-company transactions and balances have been eliminated upon consolidation.

 

Use of Estimates

 

The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amount of assets and liabilities at the date of the financial statements and revenues and expenses during the period reported. By their nature, these estimates are subject to measurement uncertainty and the effect on the financial statements of changes in such estimates in future periods could be significant. Significant areas requiring management's estimates and assumptions include determining the fair value of transactions involving shares of common stock, assessment of the useful life and evaluation for impairment of intangible assets, valuation and impairment assessments on mineral properties, deferred contingent consideration, the reclamation liability, valuation of stock-based compensation, valuation of available-for-sale securities and valuation of long-term debt and asset retirement obligations. Other areas requiring estimates include allocations of expenditures, depletion and amortization of mineral rights and properties. Actual results could differ from those estimates.

 

Foreign Currency Translation

 

The reporting currency of the Company, including its subsidiaries, is the United States dollar. The financial statements of subsidiaries located outside of the U.S. are measured in their functional currency, which is the local currency. The functional currency of the parent is the Canadian dollar. Monetary assets and liabilities of these subsidiaries are translated at the exchange rates at the balance sheet date. Income and expense items are translated using average monthly exchange rates. Non-monetary assets are translated at their historical exchange rates. Translation adjustments are included in accumulated other comprehensive loss in the condensed consolidated balance sheets.

 

Fair Values of Financial Instruments

 

The fair value of financial instruments in the Company’s consolidated financial statements at June 30, 2016 and December 31, 2015 are as follows:

 

  Quoted Prices in
Active Markets
for Identical
Assets or
Liabilities
(Level 1)
  Quoted Prices
for Similar
Assets or
Liabilities in
Active Markets
(Level 2)
  Significant
Unobservable
Inputs
(Level 3)
 
Marketable securities at June 30, 2016 $3,076  $   -  $   - 
             
Marketable securities at December 31, 2015 $2,880  $   -  $   - 

 

Loss per Share

 

Basic net loss per share is computed by dividing net loss by the weighted average number of shares of common stock outstanding during the period. Diluted earnings per share is computed using the weighted average number of common shares and, if dilutive, potential common shares outstanding during the period. Potential common shares consist of the incremental common shares issuable upon the exercise of stock options and warrants (using the treasury stock method). The computation of basic loss per share for the three and six month periods ended June 30, 2016 and 2015 excludes potentially dilutive securities. The computations of net loss per share for each period presented is the same for both basic and fully diluted.

 

Potentially dilutive securities outlined in the table below have been excluded from the computation of diluted net loss per share because the effect of their inclusion would have been anti-dilutive.

 

  For the Three and Six
Months Ended 
June 30,
 
  2016  2015 
Warrants to purchase shares of common stock  566,356   - 
Options to purchase shares of common stock  271,996   - 
Total potentially dilutive securities  838,352   -
 
XML 21 R11.htm IDEA: XBRL DOCUMENT v3.5.0.2
Recent Accounting Pronouncements
6 Months Ended
Jun. 30, 2016
Recent Accounting Pronouncements [Abstract]  
RECENT ACCOUNTING PRONOUNCEMENTS

NOTE 4 – RECENT ACCOUNTING PRONOUNCEMENTS

 

On February 25, 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2016-02, Leases (Topic 842). This update will require organizations that lease assets to recognize on the balance sheet the assets and liabilities for the rights and obligations created by those leases. The new guidance will also require additional disclosures about the amount, timing and uncertainty of cash flows arising from leases. The provisions of this update are effective for annual and interim periods beginning after December 15, 2018. The Company is currently evaluating the impact the adoption of this ASU will have on the Company’s financial position and results of operations.

 

On March 30, 2016, the FASB issued ASU No. 2016-09, “Compensation – Stock Compensation (Topic 718)”. This update requires that all excess tax benefits and tax deficiencies arising from share-based payment awards should be recognized as income tax expense or benefit on the income statement. The amendment also states that excess tax benefits should be classified along with other income tax cash flows as an operating activity. In addition, an entity can make an entity-wide accounting policy election to either estimate the number of awards expected to vest or account for forfeitures as they occur. The provisions of this update are effective for annual and interim periods beginning after December 15, 2016. The Company is currently evaluating the impact the adoption of this standard will have on its financial statements.

  

In April 2016, the FASB issued ASU No. 2016-10 “Revenue from Contracts with Customers (Topic 606)”, “Identifying Performance Obligations and Licensing” (“ASU 2016-10”). ASU 2016-10 clarifies the following two aspects of Topic 606: identifying performance obligations and the licensing implementation guidance, while retaining the related principles for those areas. The provisions of this update are effective for annual and interim periods beginning after December 15, 2017, with early application permitted. The Company is currently evaluating the impact the adoption of this standard will have on its financial statements.

 

In May 2016, the FASB issued ASU No. 2016-12 “Revenue from Contracts with Customers (Topic 606)”, “Narrow-Scope Improvements and Practical Expedients” (“ASU 2016-12”). The core principal of ASU 2016-12 is the recognition of revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The provisions of this update are effective for annual and interim periods beginning after December 15, 2017, with early application permitted. The Company is currently evaluating the impact the adoption of this standard will have on its financial statements.

XML 22 R12.htm IDEA: XBRL DOCUMENT v3.5.0.2
Mineral Assets, Ablation Intellectual Property and Other Property
6 Months Ended
Jun. 30, 2016
Mineral Assets, Ablation Intellectual Property and Other Property [Abstract]  
MINERAL ASSETS, ABLATION INTELLECTUAL PROPERTY AND OTHER PROPERTY

NOTE 5 - MINERAL ASSETS, ABLATION INTELLECTUAL PROPERTY AND OTHER PROPERTY

 

On August 18, 2014, the Company purchased mining assets in an arm's length transaction. The mining assets include both owned and leased land in the states of Utah and Colorado. All of the mining assets represent properties which have previously been mined to different degrees for uranium. As some of the properties have not formally established proven or probable reserves, there may be greater inherent uncertainty as to whether or not any mineralized material can be economically extracted as originally planned and anticipated.

 

The Company’s mining properties acquired on August 18, 2014, include: San Rafael Uranium Project located in Emery County, Utah; The Sunday Mine Complex located in western San Miguel County, Colorado; The Van 4 Mine located in western Montrose County, Colorado; The Yellow Cat Project located in eastern Grand County, Utah; The Farmer Girl Mine project located in Montrose County, Colorado; The Sage Mine project located in San Juan County, Utah, and San Miguel County, Colorado.

 

On September 16, 2015, Western completed its acquisition of Black Range. In connection with the acquisition of Black Range, Western acquired the net assets of Black Range. These net assets consist principally of interests in a complex of uranium mines located in Colorado (the “Hansen-Taylor Complex”) and a 100% interest in a 25 year license for ablation mining technologies and related patents from Ablation Technologies, LLC. The Hansen-Taylor Complex is principally a sandstone-hosted deposit that was discovered in 1977. Ablation is a low cost, purely physical method of sorting uranium ore by applying a grain-size separation process to ore slurries.

 

The Company’s mining and mining related assets consist of the following:

 

    As of:  
    June 30,
2016
    December 31, 
2015
 
Land, building and improvements   $ -     $ 1,050,810  
Mineral properties     11,645,218       11,645,218  
Ablation intellectual property     9,488,051       9,488,051  

 

On May 26, 2016, the Company executed agreements with the mortgage holder whereby in an equal exchange the mortgage was exchanged for the land, building and improvements with which it was secured (see Note 8).

 

On June 1, 2016, Black Range entered into an agreement with Ferris-Haggarty Mining Corporation to transfer all available data, information, materials, reports, assay analysis, or other regarding the Ferris-Haggarty Copper Project in Carbon County, WY from 2006 through 2009. In exchange Black Range Minerals Inc. received 100,000 Common Class A Voting shares of Ferris-Haggarty Mining Corporation. The transaction is deemed to lack commercial substance because neither the fair value of the data relinquished nor the fair value of the shares are determinable within reasonable limits, given that there is no market for the data and that the Company does not have enough information to reliably determine a value for the shares. Since the exchange of data for shares of Ferris-Haggarty lacks commercial substance, the value of the exchange will be based on the recorded value of the asset relinquished (the data), which is $0.

XML 23 R13.htm IDEA: XBRL DOCUMENT v3.5.0.2
Accounts Payable and Accrued Liabilities
6 Months Ended
Jun. 30, 2016
Accounts Payables and Accrued liabilities [Abstract]  
ACCOUNTS PAYABLE AND ACCRUED LIABILITIES

NOTE 6 - ACCOUNTS PAYABLE AND ACCRUED LIABILITIES

 

  As of 
June 30,
  

As of December  31,

 
  2016  2015 
Trade accounts payable $489,459  $520,530 
Accrued liabilities  356,250   304,571 
  $845,709  $825,101
XML 24 R14.htm IDEA: XBRL DOCUMENT v3.5.0.2
Notes Payable
6 Months Ended
Jun. 30, 2016
Notes Payable & Mortgage [Abstract]  
NOTES PAYABLE

NOTE 7 - NOTES PAYABLE

 

On August 18, 2014, in connection with the purchase of the mining properties, the Company entered into a note payable with Energy Fuels Holding Corporation (“EFHC”) (the “EFHC Note”) for $500,000. The EFHC Note bears interest at a rate of 3.0% per annum and is secured by a first priority interest in certain of the Company’s mining assets. On the date of the purchase, the Company recorded the EFHC Note net of a discount for interest of $73,971 at a rate of 4% per annum, resulting in a total effective interest rate of 7% per annum. The discount is being amortized using the effective interest method over the life of the loan. All principal on the EFHC Note is due and payable on August 18, 2018 and interest on the EFHC Note is due and payable annually beginning August 18, 2015.

 

On August 18, 2014, also in connection with the purchase of the mining properties, the Company entered into a Note Assumption Agreement with EFHC and Nuclear Energy Corporation (“Nueco”), whereby the Company assumed all of the obligations of EFHC under its note payable with Nueco (the “Nueco Note”). The Nueco Note bears no stated interest rate and is secured by certain of the Company’s mining assets. On the date of the purchase, the Company recorded the Nueco Note net of a discount for interest of $23,724 at a rate of 7% per annum. The discount is being amortized using the effective interest method over the life of the loan. The Nueco payment due on December 20, 2014 in the amount of $250,180 was made on January 5, 2015 without penalty other than additional interest at 6% per annum. As of December 31, 2015, the Nueco Note had a remaining obligation outstanding of $250,180, the due date of which was extended to January 13, 2016. In connection with the extension, the Company agreed to add interest from the date of October 13, 2015 until the date paid at the annual rate of one percent (1%) per annum. On February 8, 2016, the Company and the lender agreed to further extend the maturity of the Nueco Note to June 2016. In consideration for the extension the Company increased the principal amount by 10% (or $25,384), increased the interest rate to 6% per annum and paid a $5,000 fee that did not reduce the interest or principal. On June 20, 2016, the Company further extended the maturity of the Nueco Note to July 31, 2016. In consideration for the extension, the Company paid a $5,000 fee that did not reduce the interest or principal on the Nueco Note. These amendments were accounted for as a note modification, whereby no gain or loss was recognized. On August 8, 2016, accrued interest was paid in the amount of $13,477. As of August 11, 2016, the Nueco Note is in default.

 

On September 30, 2015 the Company entered into a note payable (“Siebels Note”) with The Siebels Hard Asset Fund, Ltd. (“Siebels”) for $250,000, which was fully funded on October 14, 2015. The Siebels Note bears interest at a rate of 16.0% per annum and was to mature on December 15, 2015. On December 16, 2015 the Company and the lender agreed to extend the maturity of the Siebels Note until June 16, 2016. In consideration for the extension of the repayment, the accrued interest at the time of extension of $8,333 was reclassified to principal, bringing the principal of the Siebels Note to $258,423. Also in consideration for such extension the interest rate was increased to 18% per annum. These amendments were accounted for as a note modification, whereby no gain or loss was recognized. On July 29, 2016, a partial principal payment in the amount of $100,000 was made. As of August 11, 2016, the Siebels Note is in default.

 

On February 22, 2016, the Company entered into a second note payable with Siebels for $100,000. The note bore interest at a rate of 18.0% per annum and matured on April 22, 2016. On April 28, 2016, the Company repaid this note in full.

 

Notes payable consisted of:

 

    As of June 30, 2016  
    Principal     Discount     Balance, Net
of Discount
    Current     Non-Current  
EFHC   $ 500,000     $ 40,967     $ 459,033     $ -     $ 459,033  
Nueco     279,220       3,800       275,420       275,420       -  
Siebels     264,020       -       264,020       264,020       -  
Total   $ 1,043,240     $ 44,767     $ 998,473     $ 539,440     $ 459,033  

 

During the three months ended June 30, 2016 and 2015, the Company’s interest expense on notes payable was $39,273, and $31,756, respectively, including the amortization of debt discounts. Interest expense on notes payable for the six months ended June 30, 2016 and 2015 was $59,353 and $45,076, respectively.

 

    As of December 31, 2015  
    Principal     Discount     Balance, Net
of Discount
    Current     Non-Current  
EFHC   $ 500,000     $ 50,016     $ 449,984     $ -     $ 449,984  
Nueco     250,180       -       250,180       250,180       -  
Siebels     240,013       -       240,013       240,013       -  
Total   $ 990,193     $ 50,016     $ 940,177     $ 490,193     $ 449,984  
XML 25 R15.htm IDEA: XBRL DOCUMENT v3.5.0.2
Mortgage
6 Months Ended
Jun. 30, 2016
Notes Payable & Mortgage [Abstract]  
MORTGAGE

NOTE 8 - MORTGAGE

 

In connection with the acquisition of Black Range, Western assumed a mortgage secured by land, building and improvements at 1450 North 7 Mile Road, Casper, Wyoming, with interest payable at 8.00% and payable in monthly payments of $11,085 with the final balance of $1,044,015 due as a balloon payment on January 16, 2016. The Company did not make the final balloon payment as scheduled. Subsequently, on May 26, 2016, the Company executed agreements with the mortgage holder whereby in an equal exchange the mortgage was exchanged for the land, building and improvements with which it was secured, and pursuant to which no future financial consideration is required.

XML 26 R16.htm IDEA: XBRL DOCUMENT v3.5.0.2
Reclamation Liability
6 Months Ended
Jun. 30, 2016
Reclamation Liability [Abstract]  
RECLAMATION LIABILITY

NOTE 9 - RECLAMATION LIABILITY

 

The reclamation liabilities of the US mines are subject to legal and regulatory requirements, and estimates of the costs of reclamation are reviewed periodically by the applicable regulatory authorities. The reclamation liability represents the Company’s best estimate of the present value of future reclamation costs in connection with the mineral properties. The Company determined the gross reclamation liabilities at June 30, 2016 and December 31, 2015 of the mineral properties to be approximately $1,036,286 and $1,036,286, respectively. During the three months ended June 30, 2016 and 2015, the accretion of the reclamation liabilities was $178,474 and $23,634, respectively. During the six months ended June 30, 2016 and 2015, the accretion of the reclamation liabilities was $180,414 and $25,634, respectively. Except in regard to its Alaska coal mine property (as discussed below), The Company expects to begin incurring the reclamation liability after 2054 and accordingly, has discounted the gross liabilities over a thirty year life using a discount rate of 5.4% to a net discounted value as of June 30, 2016 and December 31, 2015 of $400,543 and $200,129, respectively. The gross reclamation liabilities as of June 30, 2016 are secured by certificates of deposit in the amount of $1,036,286. During the second quarter of 2016, the Company initiated actions to cancel its coal mining leases in Alaska. In connection therewith, the Company is currently evaluating the most effective manner in which to reclaim such mines. During the three months ended June 30, 2016, with the near-term prospects for reclamation, the Company adjusted the fair value of its reclamation obligation and for the Alaska mine, accreted $174,412 to bring its reclamation liability to fair value. The portion of the reclamation liability related to the Alaska mine, and its related restricted cash are included in current liabilities, and current assets, respectively, at a value of $215,976.

XML 27 R17.htm IDEA: XBRL DOCUMENT v3.5.0.2
Share Capital and Other Equity Instruments
6 Months Ended
Jun. 30, 2016
Share Capital and Other Equity Instruments [Abstract]  
SHARE CAPITAL AND OTHER EQUITY INSTRUMENTS

NOTE 10 - SHARE CAPITAL AND OTHER EQUITY INSTRUMENTS

  

Private Placements

  

On January 4, 2016, the Company completed a private placement raising gross proceeds of CAD $300,000 through the subscription for 101,009 common shares at a price of CAD $2.97 (US$2.14) per common share, and warrants to purchase aggregate of 101,009 common shares at an exercise price of CAD $3.50. This offering closed on December 31, 2015. Of the total amount received, CAD $275,000 (US$198,298) was received in December of 2015 while the remainder CAD $25,000 (US$18,236) was received in the three months ended March 31, 2016. The warrants are exercisable immediately upon issuance and expire five years from the date of issuance. As of December 31, 2015, the Company accounted for the proceeds of $198,298 as subscriptions payable.

 

During April 2016, the Company initiated a private placement offering for the sale of units of its securities for a price per unit of $1.70 (CAD) (US$1.34). Each unit consists of one share of the Company’s common stock and one warrant to purchase a share of common stock at $2.60 (CAD) per share, with a term of five years. During April and May 2016 the Company raised gross proceeds of CAD $791,090 (US$622,174) through the issuance of 465,347 units.

 

During the six months ended June 30, 2016, the Company issued 566,356 shares of common stock in connection with these private placements.

 

Stock Options

 

In connection with the acquisition of Black Range, the Board of Directors granted options for the purchase of 271,996 shares of the Company’s common stock to certain of the former directors, employees and consultants of Black Range. On the date of grant, these options were fully vested, had a weighted average exercise price of CAD $6.39 (US$4.91) and a weighted average remaining contractual life of 3.52 years and had a grant date fair value of $1.59 per share. As of June 30, 2016, these stock options had a remaining contractual life of 3.02 years and had no intrinsic value. These stock options became exercisable on January 17, 2016.

 

Warrants

 

As of June 30, 2016, there were warrants outstanding to purchase an aggregate of 566,356 shares of the Company’s common stock at an exercise price of CAD $2.76 (US$2.12) per share. These warrants have a weighted average remaining life of 4.79 years.

XML 28 R18.htm IDEA: XBRL DOCUMENT v3.5.0.2
Mining Expenditures
6 Months Ended
Jun. 30, 2016
Mining Expenditures [Abstract]  
MINING EXPENDITURES

NOTE 11 - MINING EXPENDITURES

 

  

For the Three
Months Ended 
June 30,

  For the Six 
Months Ended 
June 30,
 
  2016  2015  2016  2015 
Permits $67,188  $37,610  $116,374  $66,335 
Maintenance  43,824   11,410   81,678   24,365 
Contract Labor  3,975   -   6,535   - 
Royalties  3,750   -   7,500   - 
  $118,737  $49,020  $212,087  $90,700
XML 29 R19.htm IDEA: XBRL DOCUMENT v3.5.0.2
Related Party Transactions (Including key Management Compensation)
6 Months Ended
Jun. 30, 2016
Related Party Transactions (Including key Management Compensation) [Abstract]  
RELATED PARTY TRANSACTIONS (INCLUDING KEY MANAGEMENT COMPENSATION)

NOTE 12 - RELATED PARTY TRANSACTIONS (INCLUDING KEY MANAGEMENT COMPENSATION)

 

The Company has transacted with related parties pursuant to service arrangements in the ordinary course of business, as follows:

 

An entity controlled by a member of the Board of Directors earned consulting fees totaling $9,227 and $17,687 for the three months ended June 30, 2016 and 2015, respectively and $18,472 and $27,357 for the six months ended June 30, 2016 and 2015, respectively. The same director earned director fees totaling $1,538 and $1,601 during the three months ended June 30, 2016 and 2015, respectively and $3,079 and $6,258 for the six months ended June 30, 2016 and 2015, respectively. As of June 30, 2016 and December 31, 2015, the Company has $0 and $5,074, respectively, in accounts payable and accrued liabilities owing to this director.

 

Pursuant to a consulting agreement, a US limited liability company owned by a person who is a director and the Company’s CFO entered into a contract with the Company effective January 1, 2015 to provide financial and consulting services at an annual consultant fee of $100,000. The contract had a term of one year. On October 21, 2015, the Company entered into an additional agreement with this same company to provide additional services to the Company, for the term of October through December 2015 for a monthly fee of $6,500. On January 1, 2016, the Company entered into an agreement with a different US limited liability company owned by the same director to provide financial and other consulting services at $8,333 per month. During the three months ended June 30, 2016 and 2015, the Company incurred fees of $25,000 and $25,000, respectively, to these companies. During the six months ended June 30, 2016 and 2015, the Company incurred fees of $50,000 and $50,000, respectively, to these companies. At June 30, 2016 and December 31, 2015, the Company had $6,500 and $14,833, respectively, included in accounts payable and accrued liabilities payable to these companies.

 

In connection with the acquisition of Black Range on September 16, 2015, Western assumed an obligation in the amount of AUS $500,000 payable to Western’s CEO and director contingent upon the commercialization of the ablation technology.

 

As at June 30, 2016, the obligation of $372,000 is included in the condensed consolidated balance sheet. A gain of $128,000 on the translation of the obligation for the three and six months period ended June 30, 2016, was reflected within the “unrealized foreign exchange gain” in the statement of operations and comprehensive loss.

 

Pursuant to a consulting agreement, a US limited liability company owned by a person who is a director entered into a consulting contract with the Company effective April 1, 2016 to provide financial, advisory, and consulting services, including representing the Company to a variety of stakeholders for a six month term ending on September 30, 2016. The semi-annual consulting fee will be paid monthly and aggregate fees under the agreement are $105,000. Professional fees for the three and six months ended June 30, 2016 are $60,000 and $60,000, respectively, related to this agreement.

 

As of June 30, 2016 and December 31, 2015, the Company had $7,500 and $0, respectively, included in accounts payable and accrued expenses payable to this entity.

XML 30 R20.htm IDEA: XBRL DOCUMENT v3.5.0.2
Subsequent Events
6 Months Ended
Jun. 30, 2016
Subsequent Events [Abstract]  
SUBSEQUENT EVENTS

NOTE 13 - SUBSEQUENT EVENTS

 

Private Placements

 

On June 29, 2016 the Company announced a private placement for the issuance of up to 1,909,855 units at CAD $1.70 per unit for total gross proceeds of USD $2,500,000. Each unit shall consist of one common share of the Company and one warrant at an exercise price of CAD $2.80 which expire five years after the date of issuance. The Company intends to use this capital raise to pay the costs of the acquisition of Black Range, to fund the development of the Company’s ablation technology, to fund mine production preparation and for working capital purposes. As of August 12, 2016, the Company has received subscription agreements for the sale of 943,582 units and has received proceeds or broker settlement instructions for CAD $1,604,089 (approximately USD $1,240,699). The Company expects to close on the private placement as soon as practicable.

XML 31 R21.htm IDEA: XBRL DOCUMENT v3.5.0.2
Summary of Significant Accounting Policies (Policies)
6 Months Ended
Jun. 30, 2016
Summary of Significant Accounting Policies [Abstract]  
Basis of Presentation and Principles of Consolidation

Basis of Presentation and Principles of Consolidation

 

The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (“U.S. GAAP”) for interim financial information and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. In the opinion of management, all adjustments (consisting of normal accruals) considered for a fair presentation have been included. Operating results for the three and six months ended June 30, 2016 are not necessarily indicative of the results that may be expected for the year ending December 31, 2016. These condensed financial statements should be read in conjunction with the consolidated financial statements for the year ended December 31, 2015 and related notes thereto which were included in the Company’s form 10-12G filed with the Securities and Exchange Commission on July 22, 2016.

 

The accompanying unaudited condensed consolidated financial statements include the accounts of Western and its wholly-owned subsidiaries, Western Uranium Corp., Pinon Ridge Mining LLC, Black Range Minerals Limited, Black Range Copper Inc., Ranger Resources Inc., Black Range Minerals Inc., Black Range Minerals Colorado LLC, Black Range Minerals Wyoming LLC, Haggerty Resources LLC, Ranger Alaska LLC, Black Range Minerals Utah LLC, Black Range Minerals Ablation Holdings Inc. and Black Range Development Utah LLC. All significant inter-company transactions and balances have been eliminated upon consolidation.

Use of Estimates

Use of Estimates

 

The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amount of assets and liabilities at the date of the financial statements and revenues and expenses during the period reported. By their nature, these estimates are subject to measurement uncertainty and the effect on the financial statements of changes in such estimates in future periods could be significant. Significant areas requiring management's estimates and assumptions include determining the fair value of transactions involving shares of common stock, assessment of the useful life and evaluation for impairment of intangible assets, valuation and impairment assessments on mineral properties, deferred contingent consideration, the reclamation liability, valuation of stock-based compensation, valuation of available-for-sale securities and valuation of long-term debt and asset retirement obligations. Other areas requiring estimates include allocations of expenditures, depletion and amortization of mineral rights and properties. Actual results could differ from those estimates.

Foreign Currency Translation

Foreign Currency Translation

 

The reporting currency of the Company, including its subsidiaries, is the United States dollar. The financial statements of subsidiaries located outside of the U.S. are measured in their functional currency, which is the local currency. The functional currency of the parent is the Canadian dollar. Monetary assets and liabilities of these subsidiaries are translated at the exchange rates at the balance sheet date. Income and expense items are translated using average monthly exchange rates. Non-monetary assets are translated at their historical exchange rates. Translation adjustments are included in accumulated other comprehensive loss in the condensed consolidated balance sheets.

Fair Values of Financial Instruments

Fair Values of Financial Instruments

 

The fair value of financial instruments in the Company’s consolidated financial statements at June 30, 2016 and December 31, 2015 are as follows:

 

  Quoted Prices in
Active Markets
for Identical
Assets or
Liabilities
(Level 1)
  Quoted Prices
for Similar
Assets or
Liabilities in
Active Markets
(Level 2)
  Significant
Unobservable
Inputs
(Level 3)
 
Marketable securities at June 30, 2016 $3,076  $   -  $   - 
             
Marketable securities at December 31, 2015 $2,880  $   -  $   -
Loss per Share

Loss per Share

 

Basic net loss per share is computed by dividing net loss by the weighted average number of shares of common stock outstanding during the period. Diluted earnings per share is computed using the weighted average number of common shares and, if dilutive, potential common shares outstanding during the period. Potential common shares consist of the incremental common shares issuable upon the exercise of stock options and warrants (using the treasury stock method). The computation of basic loss per share for the three and six month periods ended June 30, 2016 and 2015 excludes potentially dilutive securities. The computations of net loss per share for each period presented is the same for both basic and fully diluted.

 

Potentially dilutive securities outlined in the table below have been excluded from the computation of diluted net loss per share because the effect of their inclusion would have been anti-dilutive.

 

  For the Three and Six
Months Ended 
June 30,
 
  2016  2015 
Warrants to purchase shares of common stock  566,356   - 
Options to purchase shares of common stock  271,996   - 
Total potentially dilutive securities  838,352   -
XML 32 R22.htm IDEA: XBRL DOCUMENT v3.5.0.2
Summary of Significant Accounting Policies (Tables)
6 Months Ended
Jun. 30, 2016
Summary of Significant Accounting Policies [Abstract]  
Schedule of fair values of financial instruments

  Quoted Prices in
Active Markets
for Identical
Assets or
Liabilities
(Level 1)
  Quoted Prices
for Similar
Assets or
Liabilities in
Active Markets
(Level 2)
  Significant
Unobservable
Inputs
(Level 3)
 
Marketable securities at June 30, 2016 $3,076  $   -  $   - 
             
Marketable securities at December 31, 2015 $2,880  $   -  $   -
Schedule of antidilutive securities excluded from computation of earnings per share

  For the Three and Six
Months Ended 
June 30,
 
  2016  2015 
Warrants to purchase shares of common stock  566,356   - 
Options to purchase shares of common stock  271,996   - 
Total potentially dilutive securities  838,352   -
XML 33 R23.htm IDEA: XBRL DOCUMENT v3.5.0.2
Mineral Assets Ablation Intellectual Property and Other Property (Tables)
6 Months Ended
Jun. 30, 2016
Mineral Assets, Ablation Intellectual Property and Other Property [Abstract]  
Schedule of mining and mining related assets

 

  As of: 
  June 30,
2016
  December 31, 
2015
 
Land, building and improvements $-  $1,050,810 
Mineral properties  11,645,218   11,645,218 
Ablation intellectual property  9,488,051   9,488,051
XML 34 R24.htm IDEA: XBRL DOCUMENT v3.5.0.2
Accounts Payable and Accrued Liabilities (Tables)
6 Months Ended
Jun. 30, 2016
Accounts Payables and Accrued liabilities [Abstract]  
Schedule of accounts payable and accrued liabilities
 
  As of 
June 30,
  

As of December  31,

 
  2016  2015 
Trade accounts payable $489,459  $520,530 
Accrued liabilities  356,250   304,571 
  $845,709  $825,101
XML 35 R25.htm IDEA: XBRL DOCUMENT v3.5.0.2
Notes Payable (Tables)
6 Months Ended
Jun. 30, 2016
Notes Payable & Mortgage [Abstract]  
Schedule of notes payable

 

  As of June 30, 2016 
  Principal  Discount  Balance, Net
of Discount
  Current  Non-Current 
EFHC $500,000  $40,967  $459,033  $-  $459,033 
Nueco  279,220   3,800   275,420   275,420   - 
Siebels  264,020   -   264,020   264,020   - 
Total $1,043,240  $44,767  $998,473  $539,440  $459,033 


 

  As of December 31, 2015 
  Principal  Discount  Balance, Net
of Discount
  Current  Non-Current 
EFHC $500,000  $50,016  $449,984  $-  $449,984 
Nueco  250,180   -   250,180   250,180   - 
Siebels  240,013   -   240,013   240,013   - 
Total $990,193  $50,016  $940,177  $490,193  $449,984
XML 36 R26.htm IDEA: XBRL DOCUMENT v3.5.0.2
Mining Expenditures (Tables)
6 Months Ended
Jun. 30, 2016
Mining Expenditures [Abstract]  
Schedule of mining expenditures

  

For the Three
Months Ended 
June 30,

  For the Six 
Months Ended 
June 30,
 
  2016  2015  2016  2015 
Permits $67,188  $37,610  $116,374  $66,335 
Maintenance  43,824   11,410   81,678   24,365 
Contract Labor  3,975   -   6,535   - 
Royalties  3,750   -   7,500   - 
  $118,737  $49,020  $212,087  $90,700
XML 37 R27.htm IDEA: XBRL DOCUMENT v3.5.0.2
Business (Details)
Jun. 30, 2016
Business (Textual)  
Ownership percentage 100.00%
XML 38 R28.htm IDEA: XBRL DOCUMENT v3.5.0.2
Liquidity and Going Concern (Details)
1 Months Ended 2 Months Ended 6 Months Ended
Jun. 29, 2016
USD ($)
shares
May 31, 2016
USD ($)
May 31, 2016
CAD
Jun. 30, 2016
USD ($)
Jun. 29, 2016
CAD / shares
Dec. 31, 2015
USD ($)
Liquidity and Going Concern (Textual)            
Accumulated deficit       $ (2,929,980)   $ (1,951,564)
Working capital deficit       1,665,019    
Capital raising in a private placement   $ 622,174 CAD 791,090      
Proceeds from Issuance private placement       $ 216,534    
Private Placement [Member]            
Liquidity and Going Concern (Textual)            
Sale of stock description of transaction Each unit shall consist of one common share of the Company and one warrant at an exercise price of CAD $2.80 which expire five years after the date of issuance.          
Proceeds from Issuance private placement $ 2,500,000          
Proceeds from Issuance private placement, Share | shares 1,909,855          
Price per share | CAD / shares         CAD 1.70  
XML 39 R29.htm IDEA: XBRL DOCUMENT v3.5.0.2
Summary of Significant Accounting Policies (Details) - USD ($)
Jun. 30, 2016
Dec. 31, 2015
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Marketable securities $ 3,076 $ 2,880
Quoted Prices in Active Marketsfor Identical Assets or Liabilities (Level 1) [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Marketable securities 3,076 2,880
Quoted Prices for Similar Assets or Liabilities in Active Markets (Level 2) [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Marketable securities
Significant Unobservable Inputs (Level 3) [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Marketable securities
XML 40 R30.htm IDEA: XBRL DOCUMENT v3.5.0.2
Summary of Significant Accounting Policies (Details 1) - shares
3 Months Ended 6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Jun. 30, 2016
Jun. 30, 2015
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]        
Total potentially dilutive securities 838,352 838,352
Warrant [Member]        
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]        
Total potentially dilutive securities 566,356 566,356
Stock Option [Member]        
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]        
Total potentially dilutive securities 271,996 271,996
XML 41 R31.htm IDEA: XBRL DOCUMENT v3.5.0.2
Mineral Assets Ablation Intellectual Property and Other Property (Details) - USD ($)
Jun. 30, 2016
Dec. 31, 2015
Mineral Assets, Ablation Intellectual Property and Other Property [Abstract]    
Land, buildings and improvements $ 1,050,810
Mineral properties 11,645,218 11,645,218
Ablation intellectual property $ 9,488,051 $ 9,488,051
XML 42 R32.htm IDEA: XBRL DOCUMENT v3.5.0.2
Mineral Assets Ablation Intellectual Property and Other Property (Details Textual) - USD ($)
Jun. 01, 2016
Sep. 16, 2015
Jun. 30, 2016
Mineral Asstes Ablation Intellectual Property And Other Property Textual [Abstract]      
Ownership percentage     100.00%
Ablation Technologies, LLC [Member]      
Mineral Asstes Ablation Intellectual Property And Other Property Textual [Abstract]      
Ownership percentage   100.00%  
Term of License   25 years  
Black Range Minerals Inc. [Member]      
Mineral Asstes Ablation Intellectual Property And Other Property Textual [Abstract]      
Received of common Ssock voting shares 100,000    
Asset relinquished $ 0    
XML 43 R33.htm IDEA: XBRL DOCUMENT v3.5.0.2
Accounts Payable and Accrued Liabilities (Details) - USD ($)
Jun. 30, 2016
Dec. 31, 2015
Accounts Payables and Accrued liabilities [Abstract]    
Trade accounts payable $ 489,459 $ 520,530
Accrued liabilities 356,250 304,571
Total accounts payable and accrued liabilities, Current $ 845,709 $ 825,101
XML 44 R34.htm IDEA: XBRL DOCUMENT v3.5.0.2
Notes Payable (Details) - USD ($)
Jun. 30, 2016
Dec. 31, 2015
Dec. 16, 2015
Debt Instrument [Line Items]      
Principal $ 1,043,240 $ 990,193  
Discount 44,767 50,016  
Balance, Net of Discount 998,473 940,177  
Current 539,440 490,193  
Non-Current 459,033 449,984  
EFHC [Member] | Notes Payable [Member]      
Debt Instrument [Line Items]      
Principal 500,000 500,000  
Discount 40,967 50,016  
Balance, Net of Discount 459,033 449,984  
Current  
Non-Current 459,033 449,984  
Nueco [Member] | Notes Payable [Member]      
Debt Instrument [Line Items]      
Principal 279,220 250,180  
Discount 3,800  
Balance, Net of Discount 275,420 250,180  
Current 275,420 250,180  
Non-Current  
Siebels [Member] | Notes Payable [Member]      
Debt Instrument [Line Items]      
Principal 264,020 240,013 $ 258,423
Discount  
Balance, Net of Discount 264,020 240,013  
Current 264,020 240,013  
Non-Current  
XML 45 R35.htm IDEA: XBRL DOCUMENT v3.5.0.2
Notes Payable (Details Textual) - USD ($)
1 Months Ended 3 Months Ended 6 Months Ended
Aug. 08, 2016
Jun. 20, 2016
Feb. 22, 2016
Feb. 08, 2016
Sep. 30, 2015
Jan. 05, 2015
Aug. 18, 2014
Dec. 31, 2015
Dec. 16, 2015
Jun. 30, 2016
Jun. 30, 2015
Jun. 30, 2016
Jun. 30, 2015
Jul. 29, 2016
Jun. 29, 2016
Notes Payable (Textual)                              
Debt instrument, interest rate                   8.00%   8.00%      
Maturity date of notes payable                       Jan. 16, 2016      
Principal amount               $ 990,193   $ 1,043,240   $ 1,043,240      
Interest expense                   217,185 $ 31,756 237,265 $ 45,076    
Subsequent Event [Member]                              
Notes Payable (Textual)                              
Principal amount                           $ 100,000  
Accrued interest $ 13,477                            
Notes Payable [Member]                              
Notes Payable (Textual)                              
Interest expense                   39,273 $ 31,756 59,353 $ 45,076    
EFHC [Member] | Notes Payable [Member]                              
Notes Payable (Textual)                              
Note payable             $ 500,000                
Effective interest rate             7.00%                
Net of a discount for interest             $ 73,971                
Maturity date of notes payable             Aug. 18, 2018                
Principal amount               $ 500,000   500,000   $ 500,000      
EFHC [Member] | Notes Payable [Member] | Maximum [Member]                              
Notes Payable (Textual)                              
Effective interest rate             4.00%                
EFHC [Member] | Notes Payable [Member] | Minimum [Member]                              
Notes Payable (Textual)                              
Effective interest rate             3.00%                
Nueco [Member] | Notes Payable [Member]                              
Notes Payable (Textual)                              
Note payable           $ 250,180                  
Debt instrument, interest rate       6.00%   6.00% 7.00%                
Net of a discount for interest             $ 23,724                
Maturity date of notes payable   Jul. 31, 2016   Jun. 20, 2016   Dec. 20, 2014   Jan. 13, 2016              
Remaining obligation outstanding               $ 250,180              
Debt instrument, description                       In connection with the extension, the Company agreed to add interest from the date of October 13, 2015 until the date paid at the annual rate of one percent (1%) per annum.      
Principal amount               250,180   279,220   $ 279,220      
Increase in principal amount       $ 25,384                      
Percentage of increase in principal amount       10.00%                      
Debt instrument, fee       $ 5,000                     $ 5,000
Siebels [Member] | Notes Payable [Member]                              
Notes Payable (Textual)                              
Note payable     $ 100,000   $ 250,000                    
Debt instrument, interest rate     18.00%   16.00%       18.00%            
Maturity date of notes payable     Apr. 22, 2016   Dec. 15, 2015                    
Debt instrument, description                       On December 16, 2015 the Company and the lender agreed to extend the maturity of the Siebels Note until June 16, 2016.      
Principal amount               $ 240,013 $ 258,423 $ 264,020   $ 264,020      
Accrued interest                 $ 8,333            
XML 46 R36.htm IDEA: XBRL DOCUMENT v3.5.0.2
Mortgage (Details)
6 Months Ended
Jun. 30, 2016
USD ($)
Mortgage (Textual)  
Debt instrument, interest rate 8.00%
Interest payable in monthly payments $ 11,085
Final balance of balloon payment $ 1,044,015
Maturity date of mortgage Jan. 16, 2016
XML 47 R37.htm IDEA: XBRL DOCUMENT v3.5.0.2
Reclamation Liability (Details) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Jun. 30, 2016
Jun. 30, 2015
Dec. 31, 2015
Reclamation Liability (Textual)          
Reclamation liability mineral properties $ 1,036,286   $ 1,036,286   $ 1,036,286
Accretion of reclamation liability 178,474 $ 23,634 $ 180,414 $ 25,634  
Reclamation liability, description     The Company expects to begin incurring the reclamation liability after 2054 and accordingly, has discounted the gross liabilities over a thirty year life.    
Discount rate     5.40%    
Net discounted value 400,543   $ 400,543   200,129
Certificates of deposit 1,036,286   1,036,286    
Fair value of reclamation liability     174,412    
Restricted cash, current portion 215,976   215,976  
Current portion of reclamation liability $ 215,976   $ 215,976  
XML 48 R38.htm IDEA: XBRL DOCUMENT v3.5.0.2
Share Capital and Other Equity Instruments (Details)
1 Months Ended 2 Months Ended 3 Months Ended 6 Months Ended
Jan. 04, 2016
CAD
shares
Apr. 30, 2016
$ / shares
Dec. 31, 2015
USD ($)
Dec. 31, 2015
CAD
May 31, 2016
USD ($)
May 31, 2016
CAD
Mar. 31, 2016
USD ($)
Mar. 31, 2016
CAD
Jun. 30, 2016
USD ($)
$ / shares
shares
Jun. 30, 2016
USD ($)
$ / shares
CAD / shares
shares
Jun. 30, 2016
CAD / shares
Apr. 30, 2016
CAD / shares
Jan. 04, 2016
$ / shares
shares
Jan. 04, 2016
CAD / shares
shares
Class of Stock [Line Items]                            
Proceeds from issuance of private placement         $ 622,174 CAD 791,090                
Aggregate warrants purchase of common stock 101,009                          
Proceeds of subscriptions payable | $     $ 198,298                  
Stock Option [Member]                            
Class of Stock [Line Items]                            
Stock options remaining contractual life                 3 years 7 days 3 years 7 days        
Fair value of per share | $ / shares                 $ 1.59          
Board of Directors granted options for purchase, Shares                 271,996 271,996        
Weighted average exercise price | (per share)                 $ 4.91 $ 6.39        
Weighted average remaining contractual life                 3 years 6 months 7 days 3 years 6 months 7 days        
Warrant [Member]                            
Class of Stock [Line Items]                            
Sale of price per share | (per share)                 $ 2.12 $ 2.12 CAD 2.76      
Purchase of warrant outstanding                 566,356 566,356        
Weighted average warrants remaining life                 4 years 9 months 15 days 4 years 9 months 15 days        
Term of the contract                 5 years 5 years        
Private Placement [Member]                            
Class of Stock [Line Items]                            
Exercise price of warrants | CAD / shares                       CAD 2.60   CAD 3.50
Proceeds from issuance of private placement CAD 300,000   198,298 CAD 275,000     $ 18,236 CAD 25,000            
Common stock shares subscription                         101,009 101,009
Proceeds of subscriptions payable | $     $ 198,298                      
Sale of price per share | (per share)   $ 1.34                   CAD 1.70 $ 2.14 CAD 2.97
Units Issued                 566,356 566,356        
Term of the contract   5 years                        
XML 49 R39.htm IDEA: XBRL DOCUMENT v3.5.0.2
Mining Expenditures (Details) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Jun. 30, 2016
Jun. 30, 2015
Mining Expenditures [Abstract]        
Permits $ 67,188 $ 37,610 $ 116,374 $ 66,335
Maintenance 43,824 11,410 81,678 24,365
Contract Labor 3,975 6,535
Royalties 3,750 7,500
Total Mining Expenditures $ 118,737 $ 49,020 $ 212,087 $ 90,700
XML 50 R40.htm IDEA: XBRL DOCUMENT v3.5.0.2
Related Party Transactions (Including key Management Compensation) (Details)
3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2016
USD ($)
Dec. 31, 2015
USD ($)
Jun. 30, 2015
USD ($)
Jun. 30, 2016
USD ($)
Jun. 30, 2015
USD ($)
Dec. 31, 2015
USD ($)
Sep. 16, 2015
AUD
Related Party Transaction [Line Items]              
Accounts payable and accrued liabilities $ 7,500 $ 0   $ 7,500   $ 0  
Amount of contingent consideration | AUD             AUD 500,000
Semi-annual consulting fee       105,000      
Professional Fees 290,985   $ 124,534 326,092 $ 200,766    
Translation of obligation (128,000)     128,000      
Deferred contingent consideration 372,000     372,000      
Consulting Agreement [Member]              
Related Party Transaction [Line Items]              
Professional Fees 60,000     60,000      
Director [Member]              
Related Party Transaction [Line Items]              
Consulting fees 9,227   17,687 18,472 27,357    
Director fees 1,538   1,601 3,079 6,258    
Accounts payable and accrued liabilities 0 5,074   0   5,074  
US Limited Liability Company [Member]              
Related Party Transaction [Line Items]              
Consulting fees per month       8,333      
Consulting fees 25,000   $ 25,000 50,000 $ 50,000 100,000  
Director fees   6,500          
Accounts payable and accrued liabilities $ 6,500 $ 14,833   $ 6,500   $ 14,833  
XML 51 R41.htm IDEA: XBRL DOCUMENT v3.5.0.2
Subsequent Events (Details)
CAD / shares in Units, CAD in Thousands
1 Months Ended 6 Months Ended
Aug. 12, 2016
USD ($)
shares
Aug. 12, 2016
CAD
shares
Jun. 29, 2016
USD ($)
shares
Jun. 30, 2016
USD ($)
Jun. 29, 2016
CAD / shares
Subsequent Event [Line Items]          
Proceeds from Issuance private placement | $       $ 216,534  
Subsequent event [Member]          
Subsequent Event [Line Items]          
Proceeds from Issuance private placement, Share | shares 943,582 943,582      
Proceeds from Issuance private placement $ 1,240,699 CAD 1,604,089      
Private placement [Member]          
Subsequent Event [Line Items]          
Proceeds from Issuance private placement, Share | shares     1,909,855    
Proceeds from Issuance private placement | $     $ 2,500,000    
Sale of stock description of transaction     Each unit shall consist of one common share of the Company and one warrant at an exercise price of CAD $2.80 which expire five years after the date of issuance.    
Price per share | CAD / shares         CAD 1.70
EXCEL 52 Financial_Report.xlsx IDEA: XBRL DOCUMENT begin 644 Financial_Report.xlsx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end XML 53 Show.js IDEA: XBRL DOCUMENT /** * Rivet Software Inc. * * @copyright Copyright (c) 2006-2011 Rivet Software, Inc. All rights reserved. * Version 2.4.0.3 * */ var Show = {}; Show.LastAR = null, Show.hideAR = function(){ Show.LastAR.style.display = 'none'; }; Show.showAR = function ( link, id, win ){ if( Show.LastAR ){ Show.hideAR(); } var ref = link; do { ref = ref.nextSibling; } while (ref && ref.nodeName != 'TABLE'); if (!ref || ref.nodeName != 'TABLE') { var tmp = win ? win.document.getElementById(id) : document.getElementById(id); if( tmp ){ ref = tmp.cloneNode(true); ref.id = ''; link.parentNode.appendChild(ref); } } if( ref ){ ref.style.display = 'block'; Show.LastAR = ref; } }; Show.toggleNext = function( link ){ var ref = link; do{ ref = ref.nextSibling; }while( ref.nodeName != 'DIV' ); if( ref.style && ref.style.display && ref.style.display == 'none' ){ ref.style.display = 'block'; if( link.textContent ){ link.textContent = link.textContent.replace( '+', '-' ); }else{ link.innerText = link.innerText.replace( '+', '-' ); } }else{ ref.style.display = 'none'; if( link.textContent ){ link.textContent = link.textContent.replace( '-', '+' ); }else{ link.innerText = link.innerText.replace( '-', '+' ); } } }; XML 54 report.css IDEA: XBRL DOCUMENT /* Updated 2009-11-04 */ /* v2.2.0.24 */ /* DefRef Styles */ ..report table.authRefData{ background-color: #def; border: 2px solid #2F4497; font-size: 1em; position: absolute; } ..report table.authRefData a { display: block; font-weight: bold; } ..report table.authRefData p { margin-top: 0px; } ..report table.authRefData .hide { background-color: #2F4497; padding: 1px 3px 0px 0px; text-align: right; } ..report table.authRefData .hide a:hover { background-color: #2F4497; } ..report table.authRefData .body { height: 150px; overflow: auto; width: 400px; } ..report table.authRefData table{ font-size: 1em; } /* Report Styles */ ..pl a, .pl a:visited { color: black; text-decoration: none; } /* table */ ..report { background-color: white; border: 2px solid #acf; clear: both; color: black; font: normal 8pt Helvetica, Arial, san-serif; margin-bottom: 2em; } ..report hr { border: 1px solid #acf; } /* Top labels */ ..report th { background-color: #acf; color: black; font-weight: bold; text-align: center; } ..report th.void { background-color: transparent; color: #000000; font: bold 10pt Helvetica, Arial, san-serif; text-align: left; } ..report .pl { text-align: left; vertical-align: top; white-space: normal; width: 200px; white-space: normal; /* word-wrap: break-word; */ } ..report td.pl a.a { cursor: pointer; display: block; width: 200px; overflow: hidden; } ..report td.pl div.a { width: 200px; } ..report td.pl a:hover { background-color: #ffc; } /* Header rows... */ ..report tr.rh { background-color: #acf; color: black; font-weight: bold; } /* Calendars... */ ..report .rc { background-color: #f0f0f0; } /* Even rows... */ ..report .re, .report .reu { background-color: #def; } ..report .reu td { border-bottom: 1px solid black; } /* Odd rows... */ ..report .ro, .report .rou { background-color: white; } ..report .rou td { border-bottom: 1px solid black; } ..report .rou table td, .report .reu table td { border-bottom: 0px solid black; } /* styles for footnote marker */ ..report .fn { white-space: nowrap; } /* styles for numeric types */ ..report .num, .report .nump { text-align: right; white-space: nowrap; } ..report .nump { padding-left: 2em; } ..report .nump { padding: 0px 0.4em 0px 2em; } /* styles for text types */ ..report .text { text-align: left; white-space: normal; } ..report .text .big { margin-bottom: 1em; width: 17em; } ..report .text .more { display: none; } ..report .text .note { font-style: italic; font-weight: bold; } ..report .text .small { width: 10em; } ..report sup { font-style: italic; } ..report .outerFootnotes { font-size: 1em; } XML 56 FilingSummary.xml IDEA: XBRL DOCUMENT 3.5.0.2 html 103 163 1 false 24 0 false 7 false false R1.htm 001 - Document - Document and Entity Information Sheet http://www.blackrangeminerals.com/role/DocumentAndEntityInformation Document and Entity Information Cover 1 false false R2.htm 002 - Statement - Condensed Consolidated Balance Sheets Sheet http://www.blackrangeminerals.com/role/CondensedConsolidatedBalanceSheets Condensed Consolidated Balance Sheets Statements 2 false false R3.htm 003 - Statement - Condensed Consolidated Balance Sheets (Parenthetical) Sheet http://www.blackrangeminerals.com/role/CondensedConsolidatedBalanceSheetsParenthetical Condensed Consolidated Balance Sheets (Parenthetical) Statements 3 false false R4.htm 004 - Statement - Condensed Consolidated Statements of Operations and Other Comprehensive Loss (Unaudited) Sheet http://www.blackrangeminerals.com/role/CondensedConsolidatedStatementsOfOperationsAndOtherComprehensiveLossUnaudited Condensed Consolidated Statements of Operations and Other Comprehensive Loss (Unaudited) Statements 4 false false R5.htm 005 - Statement - Condensed Consolidated Statements of Shareholders' Equity (Unaudited) Sheet http://www.blackrangeminerals.com/role/CondensedConsolidatedStatementsOfShareholdersEquityUnaudited Condensed Consolidated Statements of Shareholders' Equity (Unaudited) Statements 5 false false R6.htm 006 - Statement - Condensed Consolidated Statements of Shareholders' Equity (Parenthetical) (Unaudited) Sheet http://www.blackrangeminerals.com/role/CondensedConsolidatedStatementsOfShareholdersEquityParentheticalUnaudited Condensed Consolidated Statements of Shareholders' Equity (Parenthetical) (Unaudited) Statements 6 false false R7.htm 007 - Statement - Condensed Consolidated Statements of Cash Flows (Unaudited) Sheet http://www.blackrangeminerals.com/role/CondensedConsolidatedStatementsOfCashFlowsUnaudited Condensed Consolidated Statements of Cash Flows (Unaudited) Statements 7 false false R8.htm 008 - Disclosure - Business Sheet http://www.blackrangeminerals.com/role/Business Business Notes 8 false false R9.htm 009 - Disclosure - Liquidity and Going Concern Sheet http://www.blackrangeminerals.com/role/LiquidityAndGoingConcern Liquidity and Going Concern Notes 9 false false R10.htm 010 - Disclosure - Summary of Significant Accounting Policies Sheet http://www.blackrangeminerals.com/role/SummaryOfSignificantAccountingPolicies Summary of Significant Accounting Policies Notes 10 false false R11.htm 011 - Disclosure - Recent Accounting Pronouncements Sheet http://www.blackrangeminerals.com/role/RecentAccountingPronouncements Recent Accounting Pronouncements Notes 11 false false R12.htm 012 - Disclosure - Mineral Assets, Ablation Intellectual Property and Other Property Sheet http://www.blackrangeminerals.com/role/MineralAssetsAblationIntellectualPropertyAndOtherProperty Mineral Assets, Ablation Intellectual Property and Other Property Notes 12 false false R13.htm 013 - Disclosure - Accounts Payable and Accrued Liabilities Sheet http://www.blackrangeminerals.com/role/AccountsPayableAndAccruedLiabilities Accounts Payable and Accrued Liabilities Notes 13 false false R14.htm 014 - Disclosure - Notes Payable Notes http://www.blackrangeminerals.com/role/NotesPayable Notes Payable Notes 14 false false R15.htm 015 - Disclosure - Mortgage Sheet http://www.blackrangeminerals.com/role/Mortgage Mortgage Notes 15 false false R16.htm 016 - Disclosure - Reclamation Liability Sheet http://www.blackrangeminerals.com/role/ReclamationLiability Reclamation Liability Notes 16 false false R17.htm 017 - Disclosure - Share Capital and Other Equity Instruments Sheet http://www.blackrangeminerals.com/role/ShareCapitalAndOtherEquityInstruments Share Capital and Other Equity Instruments Notes 17 false false R18.htm 018 - Disclosure - Mining Expenditures Sheet http://www.blackrangeminerals.com/role/MiningExpenditures Mining Expenditures Notes 18 false false R19.htm 019 - Disclosure - Related Party Transactions (Including key Management Compensation) Sheet http://www.blackrangeminerals.com/role/RelatedPartyTransactionsIncludingKeyManagementCompensation Related Party Transactions (Including key Management Compensation) Notes 19 false false R20.htm 020 - Disclosure - Subsequent Events Sheet http://www.blackrangeminerals.com/role/SubsequentEvents Subsequent Events Notes 20 false false R21.htm 021 - Disclosure - Summary of Significant Accounting Policies (Policies) Sheet http://www.blackrangeminerals.com/role/SummaryofSignificantAccountingPoliciesPolicies Summary of Significant Accounting Policies (Policies) Policies http://www.blackrangeminerals.com/role/SummaryOfSignificantAccountingPolicies 21 false false R22.htm 022 - Disclosure - Summary of Significant Accounting Policies (Tables) Sheet http://www.blackrangeminerals.com/role/SummaryofSignificantAccountingPoliciesTables Summary of Significant Accounting Policies (Tables) Tables http://www.blackrangeminerals.com/role/SummaryOfSignificantAccountingPolicies 22 false false R23.htm 023 - Disclosure - Mineral Assets Ablation Intellectual Property and Other Property (Tables) Sheet http://www.blackrangeminerals.com/role/MineralAssetsAblationIntellectualPropertyandOtherPropertyTables Mineral Assets Ablation Intellectual Property and Other Property (Tables) Tables 23 false false R24.htm 024 - Disclosure - Accounts Payable and Accrued Liabilities (Tables) Sheet http://www.blackrangeminerals.com/role/AccountsPayableandAccruedLiabilitiesTables Accounts Payable and Accrued Liabilities (Tables) Tables http://www.blackrangeminerals.com/role/AccountsPayableAndAccruedLiabilities 24 false false R25.htm 025 - Disclosure - Notes Payable (Tables) Notes http://www.blackrangeminerals.com/role/NotesPayableTables Notes Payable (Tables) Tables http://www.blackrangeminerals.com/role/NotesPayable 25 false false R26.htm 026 - Disclosure - Mining Expenditures (Tables) Sheet http://www.blackrangeminerals.com/role/MiningExpendituresTables Mining Expenditures (Tables) Tables http://www.blackrangeminerals.com/role/MiningExpenditures 26 false false R27.htm 027 - Disclosure - Business (Details) Sheet http://www.blackrangeminerals.com/role/BusinessDetails Business (Details) Details http://www.blackrangeminerals.com/role/Business 27 false false R28.htm 028 - Disclosure - Liquidity and Going Concern (Details) Sheet http://www.blackrangeminerals.com/role/LiquidityandGoingConcernDetails Liquidity and Going Concern (Details) Details http://www.blackrangeminerals.com/role/LiquidityAndGoingConcern 28 false false R29.htm 029 - Disclosure - Summary of Significant Accounting Policies (Details) Sheet http://www.blackrangeminerals.com/role/SummaryofSignificantAccountingPoliciesDetails Summary of Significant Accounting Policies (Details) Details http://www.blackrangeminerals.com/role/SummaryofSignificantAccountingPoliciesTables 29 false false R30.htm 030 - Disclosure - Summary of Significant Accounting Policies (Details 1) Sheet http://www.blackrangeminerals.com/role/SummaryOfSignificantAccountingPoliciesDetails1 Summary of Significant Accounting Policies (Details 1) Details http://www.blackrangeminerals.com/role/SummaryofSignificantAccountingPoliciesTables 30 false false R31.htm 031 - Disclosure - Mineral Assets Ablation Intellectual Property and Other Property (Details) Sheet http://www.blackrangeminerals.com/role/MineralAssetsAblationIntellectualPropertyandOtherPropertyDetails Mineral Assets Ablation Intellectual Property and Other Property (Details) Details http://www.blackrangeminerals.com/role/MineralAssetsAblationIntellectualPropertyandOtherPropertyTables 31 false false R32.htm 032 - Disclosure - Mineral Assets Ablation Intellectual Property and Other Property (Details Textual) Sheet http://www.blackrangeminerals.com/role/MineralAssetsAblationIntellectualPropertyAndOtherPropertyDetailsTextual Mineral Assets Ablation Intellectual Property and Other Property (Details Textual) Details http://www.blackrangeminerals.com/role/MineralAssetsAblationIntellectualPropertyandOtherPropertyTables 32 false false R33.htm 033 - Disclosure - Accounts Payable and Accrued Liabilities (Details) Sheet http://www.blackrangeminerals.com/role/AccountsPayableandAccruedLiabilitiesDetails Accounts Payable and Accrued Liabilities (Details) Details http://www.blackrangeminerals.com/role/AccountsPayableandAccruedLiabilitiesTables 33 false false R34.htm 034 - Disclosure - Notes Payable (Details) Notes http://www.blackrangeminerals.com/role/NotesPayableDetails Notes Payable (Details) Details http://www.blackrangeminerals.com/role/NotesPayableTables 34 false false R35.htm 035 - Disclosure - Notes Payable (Details Textual) Notes http://www.blackrangeminerals.com/role/NotesPayableDetailsTextual Notes Payable (Details Textual) Details http://www.blackrangeminerals.com/role/NotesPayableTables 35 false false R36.htm 036 - Disclosure - Mortgage (Details) Sheet http://www.blackrangeminerals.com/role/MortgageDetails Mortgage (Details) Details http://www.blackrangeminerals.com/role/Mortgage 36 false false R37.htm 037 - Disclosure - Reclamation Liability (Details) Sheet http://www.blackrangeminerals.com/role/ReclamationLiabilityDetails Reclamation Liability (Details) Details http://www.blackrangeminerals.com/role/ReclamationLiability 37 false false R38.htm 038 - Disclosure - Share Capital and Other Equity Instruments (Details) Sheet http://www.blackrangeminerals.com/role/ShareCapitalandOtherEquityInstrumentsDetails Share Capital and Other Equity Instruments (Details) Details http://www.blackrangeminerals.com/role/ShareCapitalAndOtherEquityInstruments 38 false false R39.htm 039 - Disclosure - Mining Expenditures (Details) Sheet http://www.blackrangeminerals.com/role/MiningExpendituresDetails Mining Expenditures (Details) Details http://www.blackrangeminerals.com/role/MiningExpendituresTables 39 false false R40.htm 040 - Disclosure - Related Party Transactions (Including key Management Compensation) (Details) Sheet http://www.blackrangeminerals.com/role/RelatedPartyTransactionsIncludingkeyManagementCompensationDetails Related Party Transactions (Including key Management Compensation) (Details) Details http://www.blackrangeminerals.com/role/RelatedPartyTransactionsIncludingKeyManagementCompensation 40 false false R41.htm 041 - Disclosure - Subsequent Events (Details) Sheet http://www.blackrangeminerals.com/role/SubsequentEventsDetails Subsequent Events (Details) Details http://www.blackrangeminerals.com/role/SubsequentEvents 41 false false All Reports Book All Reports wuc-20160630.xml wuc-20160630.xsd wuc-20160630_cal.xml wuc-20160630_def.xml wuc-20160630_lab.xml wuc-20160630_pre.xml true true ZIP 58 0001213900-16-016063-xbrl.zip IDEA: XBRL DOCUMENT begin 644 0001213900-16-016063-xbrl.zip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end