10-K/A

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 10-K /A

(Amendment No. 1)

(Mark One)
x	ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the fiscal year ended December 31, 2014
or
o	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 001-33404

URANIUM RESOURCES, INC.

(Exact name of Registrant as specified in its charter)

DELAWARE	75-2212772
(State of Incorporation)	(I.R.S. Employer Identification No.)

6950 S. Potomac Street, Suite 300 Centennial, Colorado	80112
(Address of principal executive offices)	(Zip code)

(303) 531-0470

(Registrant’s telephone number, including area code)

Securities registered pursuant to Section 12(b) of the Act:

Title of Each Class	Name of Each Exchange on Which Registered
Common Stock, $0.001 par value per share	NASDAQ Capital Market
Securities registered pursuant to Section 12(g) of the Act:	None
(Title of class)

Indicate by check mark if the Registrant is a well-known seasoned issuer as defined in Rule 405 of the Securities Act. Yes o  No x

Indicate by check mark if the Registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes o  No x

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 requirements for the past 90 days. Yes x  No o

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 x  No o

Indicate by check mark if disclosure of delinquent filers pursuant to Item 405 of Regulation S-K (§ 229.405 of this chapter) is not contained herein, and will not be contained, to the best of Registrant’s knowledge, in definitive proxy or information statements incorporated by reference in Part III of this Form 10-K or any amendment to this Form 10-K. o

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 a “smaller reporting company” in Rule 12b-2 of the Exchange Act.

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

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

The aggregate market value of the Common Stock held by non-affiliates of the Registrant at June 30, 2014, was approximately $45,800,000. Number of shares of Common Stock, $0.001 par value, outstanding as of April 30, 2015 was 29,777,989 shares.

DOCUMENTS INCORPORATED BY REFERENCE

None.

URANIUM RESOURCES, INC.

ANNUAL REPORT ON FORM 10-K/A

FOR THE FISCAL YEAR ENDED DECEMBER 31, 2014

TABLE OF CONTENTS

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EXPLANATORY NOTE

This Amendment No. 1 on Form 10-K/A supplements our Annual Report on Form 10-K for the year ended December 31, 2014, which we filed with the Securities and Exchange Commission on March 19, 2015 (the “Original 10-K”). We are filing this amendment to provide the information required by Items 10, 11, 12, 13 and 14 of Part III of Form 10-K. We are also filing corrected XBRL (Extensible Business Reporting Language) information in Exhibit 101.

In addition, we have filed the following exhibits herewith:

·

31.1 Certification of Chief Executive Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002; and

·

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

This Amendment No. 1 also amends Item 15 to include the additional certifications and updates references to documents incorporated by reference and the number of shares outstanding on the cover page.

Except as described above, no other amendments are being made to our Annual Report on Form 10-K filed on March 19, 2015.

In this Amendment No. 1 on Form 10-K/A, unless the context otherwise requires, the terms “we”, “us”, “our”, “URRE”, “URI”, “Corporation”, or the “Company” refer to Uranium Resources, Inc. and its subsidiaries.  Terms used but not defined herein are as defined in the Original 10-K.

PART III

ITEM 10.  DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE

DIRECTORS OF THE COMPANY

Our Board currently consists of six directors. The directors hold office from election until the next Annual Meeting of Stockholders and until their successors are elected and qualified or until their death, resignation or removal.

In the paragraphs below, we describe each director's individual management and leadership experience for at least the last five years, which we believe, in the aggregate, creates a well-rounded and capable Board of Directors and contributes to the overall effectiveness of our Board and each of its Committees. There are no family relationships among any director or executive officer.

Following each director's biography below, we have highlighted certain notable skills and qualifications that contributed to his selection as a member of our Board of Directors.

Name	Age	Director Since	Primary Occupation
Terence J. Cryan	52	2006	Chairman of the Board, Uranium Resources, Inc. and Co-Founder and Managing Director, Concert Energy Partners
Christopher M. Jones	56	2013	President and Chief Executive Officer, Uranium Resources, Inc.
Marvin K. Kaiser	73	2007	Founder, Whippoorwill Consulting LLC
Tracy A. Stevenson	64	2013	Founding Member of Bedrock Resources, LLC
Mark K. Wheatley	53	2013	Executive Chairman, Xanadu Mines Ltd.
Paul K. Willmott	75	1994	Former Chairman of the Board, President and Chief Executive Officer, Uranium Resources, Inc.

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Terence J. Cryan

Chairman of the Board of Directors

Chairman of the Nominating and Corporate Governance Committee and Member of the Compensation Committee

Terence J. Cryan has served as a director since October 2006, served as the Company's Interim President and Chief Executive Officer from September 2012 to March 2013, and became Chairman of the Board in June 2014. Mr. Cryan has over twenty-five years of experience in international business as an investment banker in the United States and Europe. In 2001, Mr. Cryan co-founded and presently serves as the Managing Director of Concert Energy Partners, an investment and private equity firm based in New York City. Prior to that, Mr. Cryan was a Senior Managing Director in the Investment Banking Division at Bear Stearns. Earlier in his career, Mr. Cryan was a Managing Director, Energy and Natural Resources Group Head and member of the Investment Banking Operating Committee at Paine Webber. Mr. Cryan joined Paine Webber following its acquisition of Kidder, Peabody in 1994. From 2007 to 2010, Mr. Cryan also served as President and Chief Executive Officer of Medical Acoustics LLC. Mr. Cryan has also been an adjunct professor at the Metropolitan College of New York Graduate School of Business and is a frequent lecturer at finance and energy and natural resources industry gatherings. Mr. Cryan received a Master of Science degree in Economics from the London School of Economics in 1984 and a Bachelor of Arts degree in Economics from Tufts University in 1983. Mr. Cryan has been a Director on the Board of Ocean Power Technologies, Inc., since October 2012 and has served as its Chairman since June 2014.  Mr. Cryan has been a Director on the Board of Global Power Equipment Group Inc. since January 2008 and has served as President and Chief Executive Officer since March 2015.  Mr. Cryan currently serves as Director on the Board of Superior Drilling Products, Inc.  and was previously a director of The Providence Service Corporation from May 2009 to May 2011 and Gryphon Gold Corporation from August 2009 to December 2012. Mr. Cryan is a Board Leadership Fellow and member of the National Association of Corporate Directors.

Mr. Cryan's extensive financial industry experience and educational background in economics provide him with a wealth of knowledge in dealing with financial, accounting and regulatory matters. Mr. Cryan's prior professional experience also permits him to provide valuable advice to the Company with respect to potential capital raising and merger and acquisition transactions, and his service as Interim President and Chief Executive Officer of the Company provides him a deep understanding of the operations of the Company.

Paul K. Willmott

Chairman of the Health, Safety, Environment and Public Affairs Committee

Paul K. Willmott first joined the Board in August 1994 and served as Chairman of the Board from July 1995 until June 2014. Mr. Willmott served as our President from February 1995 to October 2006, our Chief Executive Officer from July 1995 to August 2007 and our Executive Chairman from August 2007 to February 2013. Mr. Willmott also served as our Chief Financial Officer from April 1995 to September 1995. Mr. Willmott previously served in various positions at Union Carbide Corporation, where he was involved for 25 years in the finance and operation of Union Carbide's world-wide mining and metals business. Mr. Willmott was President of UMETCO Minerals Corporation, a wholly owned subsidiary of Union Carbide, from 1987 to 1991, where he was responsible for Union Carbide's uranium and vanadium businesses. From January 1993 until February 1995, Mr. Willmott was engaged by the Concord Mining Unit as a senior vice president where he was primarily involved in the acquisition of UMETCO Minerals Corporation's uranium and vanadium operating assets. In addition, he is a founding member of UMINICON, LLC, a corporate services firm. Mr. Willmott graduated from Michigan Technological University with a Bachelor of Science degree in Mining in 1964 and a Bachelor of Science degree in Engineering Administration in 1967.

As a result of his involvement in various executive-level positions with the Company over the last 21 years, including his tenure as President, Chief Executive Officer, Chief Financial Officer and Chairman, Mr. Willmott is able to provide valuable insights regarding the management and strategy of the Company. In addition, Mr. Willmott's 25 years with Union Carbide provide him with extensive knowledge of the mining industry, including the unique issues surrounding the mining of uranium.

Christopher M. Jones

President and Chief Executive Officer

Member of the Health, Safety, Environment and Public Affairs Committee

Christopher M. Jones has served as President and Chief Executive Officer and a director since April 2013. Mr. Jones has more than 30 years' experience in the mining industry and was most recently President, Chief Executive Officer and a director of Wildcat Silver Corporation from August 2008 to May 2012, where he and his team effectively doubled the size of

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Wildcat Silver's resources twice using proven metallurgical technologies. Prior to that, Mr. Jones was the Chief Operating Officer and the Mining General Manger at Albian Sands Energy from April 2004 to June 2008. Mr. Jones also held management positions at RAG Coal West Inc., Phelps Dodge Sierrita Corp. and Cyprus Amax Coal Company. He is a member of the American Institute of Mining, Metallurgical, and Petroleum Engineers and is a Professional Engineer registered in Utah and Alberta. Mr. Jones received a Bachelor of Science degree in Mining Engineering at the South Dakota School of Mines and a Master of Business Administration degree from Colorado State University.

Mr. Jones has extensive executive and leadership experience as a result of his prior employment in management roles at other companies within the mining industry, which enables him to provide valuable counsel to the Company on issues of strategic planning and corporate governance. In addition, Mr. Jones has a history of leading various mining and production operations, as well as exploration and development projects, which will be useful to the Company in its efforts to develop its asset base in New Mexico and position its South Texas operations for a return to production.

Marvin K. Kaiser

Chairman of the Audit Committee and Member of the Compensation and the Nominating and Corporate Governance Committees

Marvin K. Kaiser has served as a director since July 2007 and is Chairman of the Audit Committee. Since 2006, Mr. Kaiser has owned Whippoorwill Consulting LLC, a consulting practice specializing in the natural resource industry. In February 2006, Mr. Kaiser retired from The Doe Run Company, a privately held natural resources company and the largest integrated lead producer in the Western Hemisphere, where he served as Executive Vice President and Chief Administrative Officer. Prior to his thirteen years with Doe Run, Mr. Kaiser held the positions of Chief Financial Officer for Amax Gold, Olympic Mining Corporation and Ranchers Exploration at various times over a 24-year period. Mr. Kaiser graduated from Southern Illinois University with a Bachelor of Science degree in Accounting in 1963 and serves as a director of the Southern Illinois University Foundation. He is a Certified Public Accountant and is experienced in all aspects of corporate finance and management. Mr. Kaiser currently serves as a director of Aurania Resources Ltd. Mr. Kaiser previously served as a director of New West Gold Corporation from May 2006 through September 2007, Constellation Copper Corporation from August 2006 through December 2008, El Capitan Precious Metals Inc. from September 2007 through April 2009, Gryphon Gold Corporation from November 2008 to December 2013, and Brigus Gold Corp. (formerly named Apollo Gold Corporation) from May 2006 to March 2014.

Mr. Kaiser's qualifications include over 40 years in the mining and exploration industries. In addition, Mr. Kaiser's background in accounting and his prior experience serving on the audit committees of other public companies make him a valuable advisor to the Company on financial and accounting issues and uniquely qualify him to serve as the Company's Audit Committee financial expert.

Tracy A. Stevenson

Member of the Audit and Health, Safety, Environment and Public Affairs Committees

Tracy A. Stevenson has served as a director since December 2013. A founding member of Bedrock Resources, LLC, a private financial advisory firm focused on natural resource businesses, since 2010, Mr. Stevenson previously was Global Head of Information Systems and Global Head of Business Process Improvement at Rio Tinto PLC. In addition, he served as Executive Vice President, Chief Financial Officer and a director of Comalco Ltd. and as Chief Financial Officer and a director of Kennecott Corporation. Mr. Stevenson has served as a director of Quaterra Resources Inc. since July 2007 and was its Non-Executive Chairman from February 2008 to June 2013. Mr. Stevenson has also served as a director of Vista Gold Corp. since November 2007 and previously served as a director of Ivanhoe Mines Ltd. from May 2010 to April 2012. In addition, he is a founding member of SOS Investors LLC, a private investment firm. Mr. Stevenson, a Certified Public Accountant, graduated magna cum laude with a Bachelor of Science degree in Accounting from the University of Utah and spent four years with a predecessor of the firm PricewaterhouseCoopers LLP.

Mr. Stevenson's extensive experience in finance as a founding member of a financial advisory firm, as a Certified Public Accountant and in executive roles at other companies in the mining industry enables him to provide valuable counsel to the Company on financial matters and business opportunities related to the Company's business strategy. In addition, Mr. Stevenson's extensive board service at numerous companies in the mining industry provides him deep industry knowledge and allows him to provide important corporate governance insight to the Company.

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Mark K. Wheatley

Chairman of the Compensation Committee and Member of the Audit and Health, Safety, Environment and Public Affairs Committees

Mark K. Wheatley has served as a director since January 2013. Mr. Wheatley has more than 25 years of global metals and mining exploration and development experience and has served on the boards of numerous companies over the last 10 years. Mr. Wheatley currently serves as Executive Chairman of Xanadu Mines Ltd. Mr. Wheatley previously served as Chairman of Goliath Gold Mining Limited from March 2011 to April 2013 and as Chairman of Gold One International Limited from May 2009 through December 2011 and then as lead independent director through December 2012. Mr. Wheatley also served as a director of Uranium One Inc. from 2005 through 2010 and as a director of St. Barbara Limited from November 2003 to July 2006, and was Chairman of Norton Gold Fields Ltd during a one-year restructuring period ending in July 2011. Mr. Wheatley was Chief Executive Officer of Southern Cross Resources from 2003, and Chairman of the Board beginning in 2004, until the company merged to create Uranium One in 2005. Mr. Wheatley's executive management experience also includes having been Managing Director and Chief Executive Officer of BMA Gold Ltd. from July 2006 to May 2009 (including during a period of voluntary administration from January 2007 through November 2007), General Manager of Corporate Development for Aurion Gold, and Senior Vice President within the global mining team of Bankers Trust Australia. Mr. Wheatley started his career at BHP in 1979 and worked in a number of technical and commercial roles.

Mr. Wheatley's qualifications include his extensive executive and mining experience, including management and board positions in the uranium industry. Mr. Wheatley's successful leadership of companies in all aspects and phases of project development, including finance, operations, exploration, production and ultimately closure, makes him a valuable advisor to the Company as it works to develop its asset base in South Texas and New Mexico.

Criteria for Nomination to the Board

The Nominating and Corporate Governance Committee of the Board of Directors identifies director candidates based on input provided by a number of sources, including members of the Committee, other directors, our stockholders, members of management and third parties. The Nominating and Corporate Governance Committee does not distinguish between nominees recommended by our stockholders and those recommended by other parties. Any stockholder recommendation must be sent to the Secretary of Uranium Resources, Inc. at 6950 S. Potomac Street, Suite 300, Centennial, Colorado 80112, and must include detailed background information regarding the suggested candidate that demonstrates how the individual meets the Board membership criteria discussed below. The Nominating and Corporate Governance Committee also has the authority to consult with or retain advisors or search firms to assist in the identification of qualified director candidates.

As part of the identification process, the Nominating and Corporate Governance Committee takes into account each candidate's business and professional skills, experience serving in management or on the board of directors of companies similar to the Company, financial literacy, independence, personal integrity and judgment. In conducting this assessment, the Nominating and Corporate Governance Committee will, in connection with its assessment and recommendation of candidates for director, consider diversity (including, but not limited to, gender, race, ethnicity, age, experience and skills) and such other factors as it deems appropriate given the then-current and anticipated future needs of the Board and the Company, and to maintain a balance of perspectives, qualifications, qualities and skills on the Board. The Board of Directors does not have a formal diversity policy for directors. However, the Board of Directors is committed to an inclusive membership. Although the Nominating and Corporate Governance Committee may seek candidates that have different qualities and experiences at different times in order to maximize the aggregate experience, qualities and strengths of the Board members, nominees for each election or appointment of directors will be evaluated using a substantially similar process. Incumbent directors who are being considered for re-nomination are re-evaluated both on their performance as directors and their continued ability to meet the required qualifications.

Arrangements Regarding Election of Directors

Under a Stockholders' Agreement between Resource Capital Fund V L.P. (“RCF”) and the Company dated March 1, 2012, as subsequently modified by a Bridge Loan Agreement between the Company and RCF dated December 17, 2012 and a Loan Agreement between the Company and RCF dated November 13, 2013, which was subsequently amended on April 29, 2014 and November 5, 2014, the Company and RCF have the following arrangements regarding the election of directors: (i) so long as RCF and its affiliates own or hold shares of URI common stock which in the aggregate exceed 10% of the Company's issued and outstanding common stock, RCF will be entitled to have one designee placed in nomination for a seat on the Company's Board of Directors; (ii) so long as RCF and its affiliates own or hold shares of URI common stock which in the

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aggregate exceed 25% of the Company's issued and outstanding common stock, RCF will be entitled to have an additional designee placed in nomination for a seat on the Company's Board of Directors; and (iii) so long as any obligations remain outstanding under the Loan Agreement, RCF has the right to nominate two individuals to serve of the Company's Board of Directors. Tracy A. Stevenson and Mark K. Wheatley currently serve as RCF's designees to the Company's Board of Directors. Mr. Wheatley and RCF are also party to an agreement pursuant to which Mr. Wheatley may be entitled to additional compensation from RCF upon RCF's sale of its holdings in the Company.

EXECUTIVE OFFICERS OF THE COMPANY

The executive officers serve at the discretion of the Board of Directors. All officers are employed on a full-time basis.

Name	Age		Position
Christopher M. Jones		56	President and Chief Executive Officer
Jeffrey L. Vigil		61	Vice President – Finance and Chief Financial Officer
Dean T. (Ted) Wilton		67	Vice President and Chief Geologist
Dain A. McCoig		35	Vice President – South Texas Operations

Please see above under "Directors of the Company" for information about Christopher M. Jones, the Company's President and Chief Executive Officer. The following paragraphs set forth certain information concerning the business experience of the Company's other executive officers.

JEFFREY L. VIGIL joined the Company as Vice President – Finance and Chief Financial Officer in June 2013. Mr. Vigil is a mining industry financial veteran with more than thirty years of financial management experience in both production stage and development stage enterprises. Previously, he served in various financial positions, including Chief Financial Officer, at Energy Fuels, a uranium company, from April 2009 to May 2013, where he was responsible for financial and management reporting, equity financings, tax planning and compliance, treasury functions and risk management. Mr. Vigil also managed financial, operational and legal due diligence for a number of acquisitions. Prior to Energy Fuels, he served as Chief Financial Officer for Koala Corporation, which filed for voluntary reorganization under Chapter 11 of the U.S. Bankruptcy Code in March 2007. Mr. Vigil is a graduate of the University of Wyoming with a Bachelor of Science degree in Accounting and is a licensed Certified Public Accountant in the State of Colorado.

DEAN T. (TED) WILTON joined the Company in April 2012 as Vice President and Chief Geologist. Mr. Wilton, who has over 40 years of experience in the mining industry, is responsible for the development and implementation of exploration and delineation policies, systems, processes, procedures and controls related to both the exploration and development of existing properties as well as identifying potential new projects. Mr. Wilton has a comprehensive range of experience from greenfield to advanced stage mineral exploration and development programs in a variety of regions from North America and Latin America to Australia and New Zealand. He has participated in the discovery of a number of uranium and gold deposits over his career which includes a variety of technical and leadership roles at Freeport McMoRan, Inc., Kinross Gold Corporation, Neutron Energy, Inc., Victoria Gold Corporation and Klondex Mines Ltd. Prior to joining the Company in April 2012, Mr. Wilton served as Vice President – Exploration for Klondex Mines Ltd. from January 2012 to March 2012, Vice President – Exploration for Victoria Gold Corporation from January 2011 to December 2011, and as Chief Geologist for Neutron Energy, Inc. from March 2005 to December 2010. Mr. Wilton is a graduate of the New Mexico Institute of Mining and Technology and has been honored with the 2011 Distinguished Alumni Achievement award as well as being a Certified Professional Geologist.

DAIN A. MCCOIG joined the Company in 2004 as Plant Engineer and was promoted to Kingsville Dome Plant Supervisor in 2005, Senior Engineer in August 2008, Manager – South Texas Operations in April 2010 and Vice President – South Texas Operations in January 2013. Mr. McCoig earned a Bachelor of Science degree in Mechanical Engineering from Colorado School of Mines in 2002 and attained his certification as a Professional Engineer from the Texas Board of Professional Engineers in 2010.

SECTION 16(a) BENEFICIAL OWNERSHIP REPORTING COMPLIANCE

Section 16 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), requires our directors and executive officers and persons who own more than 10% of our outstanding common stock to file reports of ownership and changes in ownership of our common stock. To our knowledge, based on a review of those forms and written representations, in 2014 all required forms were filed on time with the SEC, except for one Form 4 which was filed one day late by Mr. Kaiser due to an error by the Company’s filing agent, and one Form 4 which was filed late by RCF relating to the delivery of shares by the Company in satisfaction of accrued interest under the Loan Agreement in July 2014.

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CODES OF ETHICS

The Company has adopted a Code of Ethics for Senior Financial Officers, which is applicable to the Company's chief executive officer, chief financial officer, controller, treasurer and chief internal auditor, and a Code of Business Conduct and Ethics, which is applicable to all of the Company's directors, officers and employees. Copies of the codes are available on our website at http://urre.client.shareholder.com under "Corporate Governance," or in print, without charge, to any stockholder who sends a request to the office of the Secretary of Uranium Resources, Inc. at 6950 S. Potomac Street, Suite 300, Centennial, Colorado 80112.

IDENTIFICATION OF AUDIT COMMITTEE AND FINANCIAL EXPERT

We have a separately-designated Audit Committee established in accordance with Section 3(a)(58)(A) of the Exchange Act. The members of the Audit Committee are identified below.

Members:

Marvin K. Kaiser (Chair)

Tracy A. Stevenson

Mark K. Wheatley

The Board of Directors has determined that Mr. Kaiser, the chairman of the Audit Committee, satisfies the criteria adopted by the SEC to serve as an "audit committee financial expert." In addition, the Board of Directors has determined that each of Messrs. Kaiser, Stevenson and Wheatley, constituting all members of the Audit Committee, is an independent director pursuant to the requirements under the Exchange Act and NASDAQ listing standards and is able to read and understand the Company's fundamental financial statements.

ITEM 11.  EXECUTIVE COMPENSATION.

COMPENSATION DISCUSSION AND ANALYSIS

In this section, we discuss our compensation philosophy and describe the compensation program for our senior executive team. We explain how our Board's Compensation Committee determines compensation for our senior executives and its rationale for specific 2014 decisions. We also discuss numerous changes the Committee has made to our program over the past several years to advance its fundamental objective: aligning our executive compensation with the long-term interests of our stockholders.

The Compensation Discussion and Analysis describes the compensation of the following named executive officers ("NEOs"):

Name	Title
Christopher M. Jones	President, Chief Executive Officer and Director
Jeffrey L. Vigil	Vice President – Finance and Chief Financial Officer
Dain A. McCoig	Vice President – South Texas Operations

Executive Summary

Our executive compensation program is designed to reward exceptional organizational and individual performance and to align our management's interests with that of our stockholders. Performance of our executives is evaluated based on financial and non-financial goals that balance achievement of short-terms goals related to the continued improvement of the Company's business and long-term goals that seek to maximize stockholder value.

2014 Achievements

The Company achieved many of its goals during 2014 as a result of prolonged efforts by management, including:

•

further reduction of the Company's cash burn rate;

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improved financial position with debt and equity financings;

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completion of NI 43-101 compliant Technical Reports for the Company’s Roca Honda, Cebolleta and Juan Tafoya projects; and,

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completion of restoration work at Kingsville Dome and Vasquez and commencement of reclamation work at Rosita.  

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2014 Compensation Plan Overview

Our compensation program provides total direct compensation to our NEOs that supports our philosophy of pay-for-performance and alignment of incentives between our management and stockholders. To that end, we have implemented the following policies and practices:

•

Significant "At-Risk" Compensation .. A significant portion of NEO compensation and bonus opportunities are based on each NEO's individual performance and the performance of the Company. Two-thirds of the equity grants to our NEOs in 2014 were performance-based, with a significant risk of forfeiture.

•

Short-Term Incentive Compensation .. The short-term incentive compensation component of our compensation program includes an annual incentive payment, payable in cash or stock, upon the achievement of specific planned performance goals. Such incentive payment serves as a vehicle for recruitment and retention and allows us to deliver competitive compensation tied to performance. In 2014, the Compensation Committee determined our NEOs earned from 70% to 75% of their target awards, again based on individual and Company-wide performance.

•

Long-Term Incentive Compensation .. The long-term incentive compensation component of our compensation program includes restricted stock units ("RSUs") tied to both performance and continued service. The award of such RSUs further aligns our management's interests with our long-term performance and stockholder value.

•

Fixed Compensation .. The fixed compensation elements of our compensation program include a base salary and retirement, health and welfare benefits.

•

Stock Ownership Guidelines .. Our stock ownership guidelines require that the Company's CEO and CFO obtain shares of our common stock valued at three times their base salaries to ensure that management's interests are aligned with the long-term interests of our stockholders. These ownership requirements also serve as a retention tool through holding period requirements.

•

No Perquisites .. We do not provide any perquisites, whether cash or otherwise, to our CEO, CFO or other NEOs.

•

Consideration of "Say-on-Pay" Vote .. As in prior years, our stockholders continued to show strong support for our executive compensation program by approving such program with approximately 98% of votes cast in favor of the "say-on-pay" proposal at the 2014 Annual Meeting. The Compensation Committee views this continued support as a strong endorsement of our program.

Philosophy and Objectives of Our Compensation Plan

Our compensation program is centered around a philosophy that focuses on management retention, alignment of interests between management and the stockholders and pay-for-performance compensation. We believe this philosophy allows us to compensate our NEOs competitively, while simultaneously ensuring continued development and achievement of key business strategy goals. The Compensation Committee firmly believes that our pay-for-performance philosophy should recognize both short- and long-term performance and should include both cash and equity compensation arrangements that are supported by strong corporate governance, including active and effective oversight by the Compensation Committee.

Objectives

The Compensation Committee has outlined the following objectives for compensation of our NEOs and considers such objectives in making compensation decisions:

Objective	Description
Attraction and Retention	We provide competitive compensation to our NEOs and tie a significant portion of compensation to time-based and performance-based vesting requirements. Together, these actions help to ensure that we can continue to attract key management personnel and retain such personnel.
Pay for Performance	A significant portion of each NEO's compensation is "at-risk" or variable, based on predetermined performance criteria. Such criteria include both short- and long-term goals, as well as financial and non-financial goals. The Compensation Committee considers each of these criteria in making its compensation decisions each year.
Pay Mix	We use a variety of fixed-pay and incentive compensation forms, including cash, stock, options and RSUs.
Alignment of Incentives	We require our CEO and CFO to obtain a significant stock ownership stake in the Company and tie a meaningful portion of NEO compensation to awards that vest over multi-year periods.
Competitive Packages	We evaluate our compensation program in an effort to provide a competitive compensation package to each NEO that takes into account their responsibilities, performance and organization.

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How Executive Compensation is Determined

Role of the Compensation Committee

The Compensation Committee of the Board of Directors oversees the Company's executive compensation programs. Additionally, the Compensation Committee is charged with the review and approval of all annual compensation decisions relating to the NEOs and the Company's other officers.

The Compensation Committee is composed entirely of independent, non-management members of the Board of Directors. Each member of the Compensation Committee is both a "non-employee director" within the meaning of Rule 16b-3 of the Exchange Act, and an "outside director" within the meaning of Section 162(m) of the Internal Revenue Code. No Compensation Committee member participates in any of the Company's employee compensation programs. Each year the Company reviews any and all relationships that each director has with the Company, and the Board of Directors subsequently reviews these findings. The Board of Directors has determined that none of the Compensation Committee members has any material business relationships with the Company.

The responsibilities of the Compensation Committee, as stated in its charter, include the following:

•

review and make such recommendations to the Board of Directors as the Compensation Committee deems advisable with regard to all incentive-based compensation plans and equity-based plans;

•

review and approve the corporate goals and objectives that may be relevant to the compensation of the Company's NEOs;

•

evaluate the performance of the NEOs in light of the goals and objectives that were set and determine and approve the compensation of the NEOs based on such evaluation; and

•

review and approve the recommendations of the CEO with regard to the compensation of all officers of the Company other than the CEO.

Role of Management

The Compensation Committee considers input from the CEO when making executive compensation decisions for the other NEOs. The CEO's input is useful because the CEO reviews and observes the performance of the other NEOs at the Company. No other NEO is present or privileged to the recommendations of the CEO to the Compensation Committee. The Compensation Committee and Board of Directors determine the compensation of the CEO without any management input.

Financial Performance Goals

The Compensation Committee believes that a significant portion of each NEO's compensation should be tied to the Company's performance measured against stockholder value creation. By doing so, officers have the incentive of increasing stockholder value. The Company also measures financial performance awards against certain operational cost targets, budget targets and development and production objectives. Performance goals have changed from time to time and will continue to change as the conditions of the Company and the uranium market evolve.

Non-Financial Performance Goals

The Compensation Committee also believes that a significant portion of NEO compensation should be tied to achievement of the following non-financial performance goals and exhibition of the following core values:

Non-Financial Performance Goals:

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continued viability of the Company as a going concern through the low price cycle for uranium concentrate and, as conditions permit, the development of a strong balance sheet;

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development and implementation of a strategy for market competitiveness in acquiring additional properties for future development and operation;

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retention of existing uranium properties and resources for development and operation at a time when an economic cycle for uranium selling prices returns;

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•

growth goals associated with development of the Company's New Mexico resources, expanded financing sources, return to production in South Texas and strategic ventures; and

•

retention of valuable personnel for future development and operation of uranium properties in the United States.

Core Values:

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safety;

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community involvement;

•

environmental stewardship;

•

development of future leaders; and

•

adherence to a strict code of ethics.

Peer Group Analysis The Company has historically evaluated its compensation program against the programs at other companies in order to ensure its compensation program is competitive. Peer companies were selected based on (i) revenue scope within a reasonable range, (ii) asset size within a reasonable range of the Company's asset size, and (iii) mining companies with operational scope comparable to those of the Company – specifically, mining companies with operational activities versus pure "junior" developmental/exploration companies. To be reflective of the appropriate range of competitive pay practices, the group of companies used for this purpose was comprised of uranium mining companies in various stages of development and production, and in 2014 consisted of Azarga Uranium, Energy Fuels, UR Energy, Uranium Energy and Uranerz Energy Inc. The Company traditionally targeted all elements of its compensation programs to provide a competitive compensation opportunity at the median range of companies whose compensation is used in our peer group.

During 2013, the Compensation Committee utilized the services of an executive search firm which provided compensation data on current market salaries and incentive packages for executives in similarly sized mining companies in North America. The Committee negotiated salaries and long-term incentive opportunities directly with the Company's new CEO and CFO in light of their level of experience, the Company's compensation packages with its former CEO and CFO, and the need for the Company to conserve cash. For the Company's other NEOs, the Committee largely continued base salary levels from prior years in 2013 and 2014 and established performance incentives with target payments similar to the Company's legacy programs, although with a greater portion at risk based on the Company's performance and the performance of the individual NEOs.

In evaluating stock price performance in 2014, the Compensation Committee compared the Company's performance against the performance of the Global X Uranium ETF, which the Committee concluded represents a better measure of the status of the uranium industry than any potential peer group.

Use of Compensation Consultants

The Compensation Committee occasionally engages compensation consultants to assess executive pay packages and develop incentive plans. The Compensation Committee last utilized a consultant, Buck Consultants, LLC, in September 2010. The Company's current short-term incentive program and long-term incentive program have certain similarities with plans developed with the assistance of Buck Consultants in 2010 and 2011, but none of the Company's 2014 compensation decisions were the result of input from Buck Consultants or any other compensation consultant.

2013 Omnibus Incentive Plan

In June 2013, the Company adopted the Uranium Resources, Inc. 2013 Omnibus Incentive Plan (the "2013 OIP"). Prior to its adoption, the Company had three other stock incentive plans for officers and certain other employees: the Amended and Restated 1995 Stock Incentive Plan (the "1995 Plan"), the 2004 Stock Incentive Plan (the "2004 Plan") and the 2007 Restricted Stock Plan (the "2007 Plan"). In addition, the Company had a stock incentive plan for directors: the 2004 Amended and Restated Directors' Stock Option and Restricted Stock Plan (the "2004 Directors' Plan" and together with the 1995 Plan, 2004 Plan and 2007 Plan, the "Prior Plans"). The Company adopted the 2013 OIP to provide flexibility in structuring its executive compensation program and to ensure that it would have a sufficient number of shares of common stock available for equity-based awards that it expects to make to eligible individuals over the next several years. The 2013 OIP replaced the Prior Plans and no more awards were or will be granted under the Prior Plans following the adoption of the 2013 OIP. We reserved a total of one million shares of common stock for issuance pursuant to the 2013 OIP, plus shares that were reserved but unissued under the Prior Plans.

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The 2013 OIP provides the Compensation Committee substantial flexibility in structuring awards that meet the objectives outlined above. In particular, the 2013 OIP permits the grant of performance-based and time-based RSUs, with many possible performance criteria available as the Compensation Committee determines to be appropriate. In addition to RSUs, the 2013 OIP provides for the grant of awards of stock options, stock appreciation rights, restricted stock, unrestricted stock, dividend equivalent rights, performance shares and other performance-based awards, other equity-based awards and cash bonus awards. All of our officers, directors and employees, and the officers, directors and employees of our subsidiaries and affiliates, are eligible to receive awards under the 2013 OIP. In addition, consultants, advisors and certain other individuals whose participation in the 2013 OIP is determined to be in the best interests of the Company by the Compensation Committee may participate. Incentive share options, however, are only available to our employees.

The 2013 OIP is administered by the Compensation Committee. The Compensation Committee also interprets the provisions of the 2013 OIP. The Compensation Committee also determines who will receive awards under the 2013 OIP, the types of award made, the terms and conditions of awards, and the number of shares of common stock subject to an award, if the award is equity-based.

Executive Compensation Elements

Overview and Compensation Mix

The following table illustrates the principal elements of the Company's executive compensation program, each of which is evaluated and update on an annual basis by the Compensation Committee:

Pay Element	Characteristics	Primary Objective
Base Salary	Annual fixed cash compensation	Attract and retain qualified and high performing executives
Short-Term Incentive Compensation	Annual stock compensation based on the achievement of predetermined performance goals	Incentivize our NEOs to achieve the short-term performance goals established by the Compensation Committee
Long-Term Incentive Compensation	Long-term equity awards granted as time-based and performance-based RSUs	Retain our NEOs and align their interests with the interests of our stockholders

In addition to the above-mentioned elements, the Company also provides a retirement, health and welfare benefit component to the executive compensation program.

The 2014 compensation mix for the Company's CEO and CFO demonstrates the Company's philosophy regarding significant long-term and performance-based compensation. As set forth in the 2014 Summary Compensation Table, approximately 43% of total compensation for the CEO and 33% of total compensation for the CFO in 2014 consisted of long-term equity awards, with approximately 39% of the CEO’s 2014 compensation and 54% of the CFO’s 2014 compensation consisting of base salary and the remainder consisting of compensation under the short-term incentive program. In addition, all short-term incentive compensation and a significant portion of long-term incentive compensation vests or is otherwise determined by the achievement of individual and Company-wide performance objectives.

The following is a summary of the components of the compensation policy for the Company's NEOs. As described in greater detail below, for 2014 annual and long-term incentive programs are effective for each current NEO – specifically, Messrs. Jones, Vigil and McCoig.

Fixed Compensation

Base Salary

The Compensation Committee establishes base salaries for our executives based on the scope of their responsibilities, and takes into account competitive market compensation paid by comparable mining industry companies. The Company believes that a competitive compensation program will enhance its ability to attract and retain senior executives. In each case, the Compensation Committee takes into account each officer's (i) current and prior compensation, (ii) scope of responsibilities, (iii) experience, (iv) comparable market salaries and (v) the Company's achievement of performance goals (both financial and non-financial). The Compensation Committee also (i) has the opportunity to meet with the officers at various times during the year, which allows the Compensation Committee to form its own assessment of each individual's performance and (ii) reviews reports of the CEO presented to the Compensation Committee, evaluating each of the other officers, including a review of their contributions and performance over the past year, strengths, weaknesses, development plans and succession potential.

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For fiscal 2014, after taking into account the above-mentioned factors, historical base salaries, the performance of the NEOs and the challenging uranium pricing environment, the Compensation Committee maintained base salaries for our NEOs at the same levels as in fiscal 2013, as follows:

Name	Title	2014 Base Salary
Christopher M. Jones	President and Chief Executive Officer	$275,000
Jeffrey L. Vigil	Vice President – Finance and Chief Financial Officer	$200,000
Dain A. McCoig	Vice President – South Texas Operations	$165,000

For more information about the 2014 base salaries for each of our NEOs, please see "2014 Summary Compensation Table" on page 15 of this Form 10-K/A.

Retirement, Health and Welfare Benefits

The Company offers a variety of health and welfare and retirement programs to all eligible employees. The NEOs generally are eligible for the same benefit programs on the same basis as the rest of the Company's employees. The Company's health and welfare programs include medical, dental and vision. In addition to the foregoing, the NEOs are eligible to participate in the following programs:

401(k) Profit Sharing Plan ..    The Company maintains a defined contribution profit sharing plan for employees (the "401(k)") that is administered by a committee of trustees appointed by the Company. All Company employees are eligible to participate upon the completion of six months of employment, subject to minimum age requirements. Each year the Company makes a contribution to the 401(k) without regard to current or accumulated net profits of the Company. These contributions are allocated to participants in amounts equal to 25% (or a higher percentage, determined at the Company's discretion) of the participants' contributions, up to 4% of each participant's gross pay. For the plan year ended July 31, 2014, the Company contributed amounts equal to 100% of the participant's contributions, up to 4% of gross pay. Participants become 20% vested in their Company contribution account for each year of service until full vesting occurs upon the completion of five years of service. Distributions are made upon retirement, death or disability in a lump sum or in installments.

Perquisites

We do not provide any perquisites, whether cash or otherwise, to our NEOs. We feel that our executive compensation program, particularly given the challenging uranium pricing environment, provides our NEOs with competitive compensation such that we do not need to provide any perquisites to achieve the goals of our executive compensation program.

Short-Term Incentive Compensation

In 2014, the Compensation Committee established a short-term incentive program pursuant to which each of the NEOs could earn a bonus based on the achievement of certain performance measures. For fiscal 2014, the performance measures and weighting of the measures for each NEO were as follows:

	Performance Objectives and Relative Importance
	Safety / Environment	Corporate Objectives(1)	Financing	Budget	Operations Support	Target Bonus as a Percentage of Salary	Bonus Paid for Fiscal 2014
Christopher M. Jones	Medium	High	High	High	Medium	60%	$124,000
Jeffrey L. Vigil	Low	High	High	High	High	30%	$42,000
Dain A. McCoig	High	Medium	Low	High	High	30%	$37,000
Level of Achievement	Partial	Partial	Partial	Full	Partial

(1)

Consists of restoration at certain of the Company's South Texas properties, evaluating merger and acquisition opportunities and developing resource reports.

In March 2015, the Compensation Committee determined the results of the 2014 performance measures, as set forth in the table above, and the applicable award amounts. Awards were made in stock.

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Long-Term Incentive Compensation

In 2014, the Compensation Committee also determined to set long-term performance criteria for each of the NEOs. The long-term compensation program puts a greater focus on performance and serves to create a balance between long-term and short-term performance imperatives. In the case of the NEOs, two-thirds of the restricted stock units granted on June 4, 2014, vest based upon the achievement of such performance criteria, with the other one-third in each case vesting based upon continued service to the Company.

The Compensation Committee expects the incentive program to evolve over time as the Company transitions from its current primary focus on developmental and restoration activities to an operational focus driving towards profit and return enhancement.

Stock Ownership Policy

The Compensation Committee believes that stock ownership by senior management and stock-based performance compensation arrangements are beneficial in aligning management and stockholders' interests and serves as an executive retention tool through vesting and post-vesting holding period requirements. To that end, the employment agreements for each of Mr. Jones and Mr. Vigil establish stock ownership targets for each executive of stock valued at three times the initial base salary of each executive under the employment agreements. Each of Mr. Jones and Mr. Vigil has five years from his respective employment date to reach the stock ownership target.

Target Total Direct Compensation for Fiscal 2014

The target compensation packages for our NEOs during fiscal 2015 will consist of base salary and, subject to Compensation Committee approval, a performance-based annual incentive plan pursuant to the short-term incentive program and time-based and performance-based awards under the long-term incentive program. Base salaries have been positioned to reflect job content and competitive pay practices, as discussed above.

"Say-on-Pay" Stockholder Vote

In 2014, as in prior years, we sought an advisory vote from our stockholders regarding our executive compensation program and received a 98% favorable vote supporting the program. The Compensation Committee considers the results of the advisory vote as it completes its annual review of each pay element and the compensation packages provided to our NEOs. Given the significant level of stockholder support and our stockholder outreach throughout the year, the Compensation Committee concluded that our compensation program continues to provide a competitive pay for performance package that effectively incentivizes our NEOs to maximize stockholder value. The Compensation Committee will continue to consider the outcome of our say-on-pay votes and our stockholder views when making future compensation decisions for our NEOs.

Severance and Change in Control Arrangements

We have entered into employment agreements with Messrs. Jones and Vigil that provide payments following the termination of employment under certain circumstances, including following a change in control of the Company. The Compensation Committee believes such agreements are useful in recruiting and retaining executives, provide continuity of management in the event of an actual or threatened change in control and provide the executives with the security to make decisions that are in the best long-term interest of the stockholders. The terms of these agreements are described later in "Potential Payments Upon Termination or Change in Control."

In addition, awards under the Company's equity incentive plans generally vest or accelerate upon a change in control of the Company. The Compensation Committee believes that the above-mentioned vesting and acceleration is appropriate on the basis that our NEOs should receive the full benefit of such awards in the event of a change in control.

Internal Revenue Code Section 162(m)

Section 162(m) of the Internal Revenue Code generally places a $1,000,000 limit on the deductibility for federal income tax purposes of the annual compensation paid to a company's CEO and each of its other three most highly compensated executive officers (excluding the CFO). However, "qualified performance-based compensation" is exempt from this deductibility limitation. Qualified performance- based compensation is compensation paid based solely upon the achievement of objective performance goals, the material terms of which are approved by the stockholders of the paying corporation.

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The Compensation Committee considers the anticipated tax treatment to the Company when determining executive compensation and routinely seeks to structure its executive compensation program in a way that preserves the deductibility of compensation payments and benefits. It should be noted, however, that there are many factors which are considered by the Compensation Committee in determining executive compensation and, similarly, there are many factors that may affect the deductibility of executive compensation. In order to maintain the flexibility to be able to compensate NEOs in a manner designed to promote varying corporate goals, the Compensation Committee has not adopted a strict policy that all executive compensation must be deductible under Section 162(m).

Actions Taken After Fiscal 2014

The Compensation Committee has not taken any additional actions with respect to our executive compensation program after fiscal 2014, other than as described above.

COMPENSATION COMMITTEE REPORT

The Compensation Committee has reviewed and discussed the foregoing Compensation Discussion and Analysis with management. Based on this review and discussion, the Compensation Committee recommended to the Board of Directors that the Compensation Discussion and Analysis be included in the Company's Annual Report on Form 10-K for the year ended December 31, 2014.

This Report has been submitted by the following members of the Compensation Committee of the Board of Directors:

Mark K. Wheatley, Chairman

Terence J. Cryan

Marvin K. Kaiser

The information contained in the foregoing Compensation Committee Report shall not be deemed "soliciting material" or "filed" with the SEC, nor shall such information be incorporated by reference into a future filing under the Securities Act of 1933, as amended, or the Securities Exchange Act of 1934, as amended, except to the extent the Company specifically incorporates this Report by reference therein.

COMPENSATION COMMITTEE INTERLOCKS AND INSIDER PARTICIPATION

During 2014, the Compensation Committee consisted of Mark K. Wheatley (Chair), Terence J. Cryan and Marvin K. Kaiser.  No member of the Compensation Committee is now, or was during 2014, an officer or employee of the Company. No member of the Compensation Committee had any relationship with the Company or any of its subsidiaries during 2014 pursuant to which disclosure would be required under applicable rules of the SEC pertaining to the disclosure of transactions with related persons. None of the executive officers of the Company currently serves or served during 2014 on the board of directors or compensation committee of another company at any time during which an executive officer of such other company served on the Company's Board of Directors or Compensation Committee.

2014 SUMMARY COMPENSATION TABLE

The following table sets forth information regarding 2014 and 2013 compensation for each of our 2014 NEOs;

Name and Principal Position	Year		Salary ($)		Stock Awards ($) (1)		Option Awards ($) (1)		Non-Equity Incentive Plan Compensation ($) (2)		All Other Compensation ($) (3)		Total ($)
Christopher M. Jones (4)		2014		275,000		303,504		—		124,000		5,924		708,428
President and CEO		2013		215,769		351,250		108,900		79,471		2,794		758,184
Jeffrey L. Vigil (5)		2014		200,000		121,401		—		42,000		4,597		367,998
Vice President – Finance and CFO		2013		104,615		360,000		—		14,869		3,792		483,276
Dain A. McCoig (6)		2014		165,000		166,928		—		37,000		4,358		373,286
Vice President – South Texas Operations		2013		162,788		—		—		29,134		13,912		205,834

(1)

See Note 11 – Stock Based Compensation of the Notes to Consolidated Financial Statements in the Company's Form 10-K for the period ended December 31, 2014 for a discussion of valuation assumptions for stock and option awards. The stock and option awards present the aggregate grant

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date fair value calculated in accordance with FASB ASC Topic 718.

(2)

Non-equity incentive plan compensation for 2014 and 2013 includes performance awards made under the Company's short-term incentive program.

(3)

Includes contributions made by the Company under the Company's 401(k) Profit Sharing Plan described above, life insurance premiums paid by the Company on behalf of the named officer.

(4)

Mr. Jones joined the Company on March 12, 2013.

(5)

Mr. Vigil joined the Company effective June 14, 2013.

(6)

Mr. McCoig became an executive officer of the Company upon his promotion to Vice President – South Texas Operations on January 24, 2013.

2014 GRANTS OF PLAN-BASED AWARDS

The table below summarizes grants of restricted stock, RSUs and options and the estimated cash awards payable under the Company's short-term and long-term incentive programs for 2014. Information regarding the terms of these awards can be found above under the headings "Short-Term Incentive Compensation," and "Long-Term Incentive Compensation" and below under the heading "Employment Agreements."

		Estimated Possible Payouts Under Non-Equity Incentive Plan Awards (1)				All Other Stock Awards: Number of	All Other Option Awards: Number of Securities	Exercise or Base Price of	Grant Date Fair Value of Stock
Name	Grant Date		Threshold ($)	Target ($)	Maximum ($)	Shares of Stock or Units (#)	Underlying Options (#)	Option Awards ($/Sh)	and Option Awards ($) (2)
Christopher M. Jones			—	165,000	—	—	—	—	—
	6/4/2014		—	—	—	117,183(3)	—	—	303,504
Jeffrey L. Vigil			—	60,000	—	—	—	—	—
	6/4/2014		—	—	—	46,873(3)	—	—	121,401
Dain A. McCoig			—	49,500	—	—	—	—	—
	6/4/2014		—	—	—	64,451(3)	—	—	166,928

(1)

Represents potential earnings under the Company's short-term incentive program for 2014. The target individual awards under the short-term incentive program were 30% of base salary for NEOs other than Mr. Jones and 60% of base salary in the case of Mr. Jones. The awards were not subject to threshold or maximum amounts. Awards under the short-term incentive program were paid during the first quarter of 2015. See the 2014 Summary Compensation Table for those amounts.

(2)

See Note 11 – Stock Based Compensation of the Notes to Consolidated Financial Statements in the Company's Form 10-K for the period ended December 31, 2014 for a discussion of valuation assumptions for stock and option awards. The stock and option awards present the aggregate grant date fair value calculated in accordance with FASB ASC Topic 718.

(3)

On June 4, 2014, pursuant to the Company’s long-term incentive program, NEOs were awarded RSUs which vest as follows: one-third in three equal installments on January 2, 2015, 2016 and 2017, and the remaining two-thirds over three years subject to the achievement of performance objectives.

EMPLOYMENT AGREEMENTS

On March 12, 2013, the Company entered into an employment agreement with Mr. Jones in connection with his joining the Company as President and CEO. Pursuant to his employment agreement, Mr. Jones is entitled to an annual base salary of $275,000, has a target bonus equal to 60% of his base salary, and was awarded 25,000 shares of the Company's restricted stock and an option to purchase 55,000 shares of the Company's common stock. In the event of a change of control (as defined therein), if Mr. Jones is terminated without cause (as defined therein), demoted or has his responsibilities materially changed, or circumstances arise that constitute good reason (as defined therein), the Company will pay Mr. Jones a severance amount equal to two years of base salary, in a lump sum within 30 days after his termination or termination of the agreement. If the Company otherwise terminates Mr. Jones without cause or fails to renew the employment agreement, or Mr. Jones otherwise terminates his employment for good reason, the Company will pay Mr. Jones severance in the amount of one year of base salary in a lump sum within 30 days after the termination date.

On June 11, 2013, the Company entered into an employment agreement with Mr. Vigil in connection with his joining the Company as Vice President – Finance and CFO. Pursuant to his employment agreement, Mr. Vigil is entitled to an annual base salary of $200,000 and has a target bonus equal to 30% of his base salary. The employment agreement also provides for a grant of 80,000 RSUs to Mr. Vigil. In the event of a change of control (as defined therein), if Mr. Vigil is terminated without cause (as defined therein), demoted or has his responsibilities materially changed, or circumstances arise that constitute good reason (as defined therein), the Company will pay Mr. Vigil a severance amount equal to one year of base salary, in a lump sum within 30 days after his termination or termination of the agreement. If the Company otherwise

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terminates Mr. Vigil without cause or fails to renew the employment agreement, or Mr. Vigil otherwise terminates his employment for good reason, the Company will pay Mr. Vigil severance in the amount of six months of base salary in a lump sum within 30 days after the termination date.

Each employment agreement also contains customary confidentiality, non-competition and non-solicitation provisions. Each executive has agreed not to perform any work in the United States related in any way to uranium mining, or to solicit customers, suppliers or employees of the Company, during the term of the employment agreement and for a period of one year thereafter in the case of Mr. Jones or six month thereafter in the case of Mr. Vigil.

Other than the foregoing employment agreements, we do not have any other employment agreements with our executive officers.

2014 OUTSTANDING EQUITY AWARDS AT FISCAL YEAR-END

The following table shows outstanding stock option awards classified as exercisable and unexercisable as of December 31, 2014 for the NEOs. The table also shows unvested and unearned stock awards and RSUs assuming a market value of $1.86 a share, the closing market price of the Company's stock on December 31, 2014.

	Option Awards								Stock Awards
Name	Number of Securities Underlying Unexercised Options (#) Exercisable		Number of Securities Underlying Unexercised Options (#) Unexercisable		Option Exercise Price ($)		Option Expiration Date		Equity Incentive Plan Awards: Number of Unearned Shares, Units or Other Rights That Have Not Vested (#)		Equity Incentive Plan Awards: Market or Payout Value of Unearned Shares, Units or Other Rights That Have Not Vested ($)
Christopher M. Jones		18,333		36,667 (1)		2.73		3/12/2023		—		—
		—		—		—		—		16,668 (1)		31,000
		—		—		—		—		66,667 (2)		124,000
		—		—		—		—		117,183 (3)		217,960
Jeffrey L. Vigil		—		—		—		—		53,333 (4)		99,200
		—		—		—		—		46,873 (3)		87,184
Dain A. McCoig		1,562		—		31.20		10/06/2015		—		—
		3,000		—		51.90		11/08/2016		—		—
		2,500		—		7.30		04/01/2020		—		—
		—		—		—		—		64,451 (3)		119,879

(1)

The reported awards represent the unvested portion of options and restricted stock that vest as follows: one-third in equal installments on March 12, 2014, 2015 and 2016, and the remaining two-thirds over three years subject to the achievement of performance objectives.

(2)

The reported award represents the unvested portion of RSUs that vest in equal one-third installments on January 1, 2014, 2015 and 2016.

(3)

The reported award represents the unvested portion of RSUs that vest as follows:  one-third in equal installments on January 2, 2015, 2016 and 2017, and the remaining two-thirds over three years subject to the achievement of performance objectives.

(4)

The reported award represents the unvested portion of RSUs that vest as follows: one-third in equal installments on the first, second and third anniversaries of June 14, 2013, and the remaining two-thirds over three years subject to achievement of annual performance objectives.

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2014 OPTION EXERCISES AND STOCK VESTED

The following table sets forth certain information regarding options, restricted stock awards and restricted stock units exercised and vested, respectively, during 2014 for the NEOs.

	Option Awards				Stock Awards
Name	Number of Shares Acquired on Exercise (#)		Value Realized on Exercise ($)		Number of Shares Acquired on Vesting (#)		Value Realized on Vesting ($)
Christopher M. Jones		—		—		39,815		185,560
Jeffrey L. Vigil		—		—		16,889		60,247
Dain A. McCoig		—		—		—		—

POTENTIAL PAYMENTS UPON TERMINATION OR CHANGE IN CONTROL

Employment Agreements

The Company has entered into employment agreements with each of Mr. Jones and Mr. Vigil. See "Employment Agreements" above. In the event of a change of control, if either executive is terminated without cause (as defined therein), demoted or has his responsibilities materially changed, or circumstances arise that constitute good reason (as defined therein), the Company will pay severance in an amount equal to two years of base salary in the case of Mr. Jones and one year of base salary in the case of Mr. Vigil, in each case in a lump sum within 30 days after his termination or termination of the agreement. If the Company otherwise terminates either executive, including following the disability of either executive, without cause, or fails to renew either employment agreement, or either executive otherwise terminates his employment for good reason, the Company will pay severance in an amount equal to one year of base salary in the case of Mr. Jones and six months of base salary in the case of Mr. Vigil, in each case in a lump sum within 30 days after the termination date. The employment agreements automatically terminate upon the death of the executive.

The employment agreements define "change of control" as (i) any person or group of affiliated or associated persons (other than RCF or RMB Australia Holdings, Ltd. or related entities) acquires more than 50% of the voting power of the Company; (ii) the consummation of a sale of all or substantially all of the assets of the Company; (iii) the dissolution of the Company; (iv) a majority of the members of the Board are replaced during any 12-month period; or (v) the consummation of any merger, consolidation, or reorganization involving the Company in which, immediately after giving effect to such merger, consolidation or reorganization, less than 50.1% of the total voting power of outstanding stock of the surviving or resulting entity is then "beneficially owned" (within the meaning of Rule 13d-3 under the Exchange Act) in the aggregate by the stockholders of the Company immediately prior to such merger, consolidation or reorganization.

Equity Incentive Plans

Upon a change in control, the stock options granted under our 1995 and 2004 Plans, the restricted stock granted under our 2007 Plan and any awards under our 2013 OIP will immediately vest in full, to the extent not already vested, for all of our NEOs.

BOARD OVERSIGHT OF RISK MANAGEMENT

The Board of Directors has overall responsibility for risk oversight with a focus on the most significant risks facing the Company. The Board of Directors relies upon the President and Chief Executive Officer to supervise day-to-day risk management, who reports directly to the Board and certain Committees on such matters as appropriate.

The Board of Directors delegates certain oversight responsibilities to its Committees. For example, while the primary responsibility for financial and other reporting, internal controls, compliance with laws and regulations and ethics rests with the management of the Company, the Audit Committee provides risk oversight with respect to the Company's financial statements, the Company's compliance with legal and regulatory requirements and corporate policies and controls, and the independent auditor's selection, retention, qualifications, objectivity and independence. Additionally, the Compensation Committee provides risk oversight with respect to the Company's compensation programs, and the Nominating and Governance Committee provides risk oversight with respect to the Company's governance structure and processes and

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succession planning. The Board and each Committee consider reports and presentations from the members of management responsible for the matters considered to enable the Board and each Committee to understand and discuss risk identification and risk management.

ITEM 12.  SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS

STOCK OWNERSHIP OF OFFICERS AND DIRECTORS

The following table shows, as of April 30, 2015, the number of shares of URI common stock beneficially owned by each director, by each of the named executive officers identified in the 2014 Summary Compensation Table on page • in this Annual Report on Form 10-K/A, and by all current directors and executive officers as a group. The percentage of beneficial ownership is based on 29,641,527 shares of common stock outstanding as of the close of business on April 30, 2015. The information in this table is based solely on statements in filings with the SEC or other reliable information.

Name of Individual or Group	Number of Shares of URI Common Stock Beneficially Owned (1)	Percent of Class
Terence J. Cryan	91,097 (2)	*
Christopher M. Jones	183,361	*
Marvin K. Kaiser	55,308	*
Tracy A. Stevenson	7,916	*
Mark K. Wheatley	22,498	*
Paul K. Willmott	93,602	*
Jeffrey L. Vigil	37,298	*
Dain A. McCoig	36,294	*
All current directors and executive officers as a group (9 persons)	659,163	2.2%

*

Represents less than 1%.

(1)

Includes the following shares that directors and executive officers have the right to acquire within 60 days after April 30, 2015 through the exercise of vested stock options: Terence J. Cryan, 51,666 shares; Christopher M. Jones, 24,444 shares; Marvin K. Kaiser, 16,666 shares; Tracy A. Stevenson, 1,250 shares; Mark K Wheatley, 2,500 shares; Paul K. Willmott, 1,666 shares; Dain A. McCoig, 7,062 shares; and all current directors and executive officers as a group, 105,254 shares. Also includes the following shares that directors and executive officers have the right to acquire within 60 days after April 30, 2015 through the vesting of RSUs: each of Messrs. Cryan, Kaiser, Wheatley and Willmott, 13,332 shares; Mr. Stevenson, 6,666 shares; and all current directors and executive officers as a group, 59,994 shares. Except as otherwise noted, the directors and executive officers exercise sole voting and investment power over their shares shown in the table and none of the shares are subject to pledge.

(2)

Includes 100 shares held through the IRA of Mr. Cryan's spouse.

STOCK OWNERSHIP OF CERTAIN BENEFICIAL OWNERS

The following table sets forth information regarding persons or groups known to the Company to be beneficial owners of more than 5% of our outstanding common stock.

Name and Address of Beneficial Owner	Number of Shares of URI Common Stock Beneficially Owned	Percent of Class
Resource Capital Fund V L.P.(1) 1400 Sixteenth Street, Suite 200 Denver, Colorado 80202	10,136,166	31.0%

(1)

RCF reported that, as of April 2, 2015, each of RCF, its general partner, Resource Capital Associates V L.P. ("Associates V"), and the general partner of Associates V, RCA V GP Ltd. ("RCA V"), may be deemed to have sole voting and dispositive power over 10,136,166 shares of our common stock. The investment and voting control of RCA V is exercised by Messrs. Ryan T. Bennett, Ross R. Bhappu, Russ Cranswick, James McClements, Henderson G. Tuten and Ms. Sherri Croasdale (collectively, the "Principals"). Each of the Principals disclaims beneficial ownership of the shares listed, except to the extent of each of their pecuniary interest therein. Such information is based upon a Form 4 filed April 2, 2015.

19

SECURITIES AUTHORIZED FOR ISSUANCE UNDER EQUITY COMPENSATION PLANS

The following table provides information as of December 31, 2014 with respect to the shares of URI common stock that may be issued under our equity compensation plans.

Plan Category	Number of shares issuable under outstanding options, warrants and rights (a)		Weighted average exercise price of outstanding options, warrants and rights (b)		Number of securities remaining available for future issuance under equity compensation plans (excluding securities reflected in column(a)) (c)
Equity compensation plans approved by security holders (1)		1,159,123	$	25.18 (2)		646,180
Equity compensation plans not approved by security holders		—		—		—
Total		1,159,123	$	25.18 (2)		646,180

(1)

Includes our 2013 Omnibus Incentive Plan, 2007 Restricted Stock Plan, Amended and Restated 2004 Directors' Stock Option and Restricted Stock Plan, 2004 Stock Incentive Plan and Amended and Restated 1995 Stock Incentive Plan. Our 2013 Omnibus Incentive Plan is the only equity compensation plan under which we currently issue equity awards. As of June 4, 2013, our 2013 Omnibus Incentive Plan superseded our prior plans.

(2)

Weighted average exercise price of outstanding options only.

2014 DIRECTOR COMPENSATION

Directors who are employees of the Company receive no additional compensation for serving as directors. Non-employee directors are compensated for their service on the Board as described below.

Annual Compensation

In 2014, the compensation of non-employee directors consisted of an annual $50,000 cash retainer, earned at a rate of $12,500 per quarter, and a grant of 20,000 RSUs following our Annual Meeting of Stockholders. The compensation of the current Chairman of the Board, Mr. Cryan, consisted of $27,500 per quarter and a grant of 20,000 RSUs following our Annual Meeting of Stockholders.  The former Chairman of the Board, Mr. Willmott, earned an additional $12,500 cash retainer per quarter ending June 30, 2015 pursuant to an agreement with the Company. All of our directors are also reimbursed for reasonable out-of-pocket expenses related to attendance at Board and Committee meetings.

In addition, each non-employee director earned $1,250 per quarter for each Committee served upon, with the Chairman of each Committee earning either an additional $2,500 per quarter (in the case of the Audit and Compensation Committees) or $1,250 per quarter (in the case of the Nominating and Corporate Governance and the Health, Safety, Environment and Public Affairs Committees) for such service.

Initial Option Grant

Non-employee directors receive a one-time grant of an option to purchase 5,000 shares of the Company's common stock when first appointed to the Board. This award vests ratably over four years starting on the anniversary of the grant date.

2014 Non-Employee Director Compensation

The following table summarizes all compensation earned by the Company's directors, excluding Mr. Jones, whose compensation is set forth in the 2014 Summary Compensation Table, in the year ended December 31, 2014.

20

Name	Fees Earned or Paid in Cash ($)		Stock Awards ($) (1)		Total ($)
Marvin K. Kaiser		76,250		51,800		128,050
Terence J. Cryan		112,321		51,800		164,121
Tracy A. Stevenson		58,750		51,800		110,550
Mark K. Wheatley		70,330		51,800		122,130
Paul K. Willmott		107,500		51,800		159,300

(1)

Represents the grant date fair value of equity awards granted during 2014 in accordance with FASB ASC Topic 718. See Note 11 – Stock Based Compensation of the Notes to Consolidated Financial Statements in the Company's Form 10-K for the period ended December 31, 2014 for a discussion of valuation assumptions for stock and option awards.

The number of RSUs and vested and unvested stock options held by each non-employee director at fiscal year-end 2014 is shown below:

Name	Number of Vested Options		Number of Unvested Options		Restricted Stock Units
Marvin K. Kaiser		16,250		416		33,334
Terence J. Cryan		51,250		416		33,334
Tracy A. Stevenson		1,250		3,750		20,000
Mark K. Wheatley		1,250		3,750		33,334
Paul K. Willmott		1,250		416		33,334

ITEM 13.  CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS AND DIRECTOR INDEPENDENCE

RELATED PARTY TRANSACTIONS

The Company's general policy with respect to related party transactions is included in its Code of Business Conduct and Ethics, the administration of which is overseen by the Audit Committee. Directors and officers of the Company are required to report any transaction that the Company would be required to disclose pursuant to Item 404(a) of Securities and Exchange Commission Regulation S-K (a "Related Party Transaction") to the Audit Committee.

The Company collects information about potential Related Party Transactions in its annual questionnaire completed by directors and officers. Potential Related Party Transactions are subject to the review and approval of the non-interested members of the Audit Committee. In determining whether to approve any such transaction, the Audit Committee will consider such factors as it deems relevant, including, but not limited to, whether the transaction is on terms comparable to those that could be obtained in arm's length negotiations with an unrelated third party.

On August 31, 2012, the Company acquired Neutron Energy, Inc. ("Neutron"). In anticipation of the acquisition, on March 1, 2012, the Company entered into an Investment Agreement (the "Investment Agreement") with RCF, pursuant to which RCF purchased approximately 4.5 million shares of URI common stock for $35.0 million in transactions closing in March 2012, August 2012 and September 2012, the proceeds of which were used to repay Neutron debt and fund the working capital of the Company and Neutron. In connection with the execution of the Investment Agreement, on March 1, 2012, the Company entered into a Registration Rights Agreement with RCF, pursuant to which RCF is granted certain registration rights with respect to the shares of URI common stock issued under the Investment Agreement.

On December 17, 2012, the Company entered into a Bridge Loan Agreement (the "Bridge Loan Agreement") among the Company, each of the Company's subsidiaries, as guarantors, and RCF, pursuant to which RCF provided a secured bridge loan to the Company in the amount of $5.0 million on December 18, 2012. The Company's obligations under the Bridge Loan Agreement carried an annualized interest rate of 10% and were secured by a first priority lien on all personal property of the Company and its subsidiaries. On December 18, 2012, the Company issued 42,883 shares of common stock to RCF in satisfaction of an establishment fee due under the terms of the Bridge Loan Agreement. On January 10, 2013 and March 5, 2013, the Company issued 4,861 shares and 26,482 shares, respectively, in satisfaction of interest due under the Bridge Loan

21

Agreement. On March 5, 2013, RCF purchased approximately 2.0 million shares in a rights offering pursuant to its obligations under a Standby Purchase Agreement, dated December 17, 2012, under which RCF agreed to exercise subscription rights for the purchase of $5.0 million of common stock in a private placement. The subscription price for the common stock purchased in the rights offering was satisfied by offset against amounts outstanding under the Bridge Loan Agreement, which was subsequently terminated.

On November 13, 2013, the Company and RCF entered into a Loan Agreement (the "Loan Agreement") whereby RCF agreed, subject to the terms and conditions set forth in the Loan Agreement, to provide a secured convertible loan facility of up to $15.0 million to the Company (the "Facility"). Amounts drawn on the Facility carried an annualized interest rate of 12% until stockholder approval, and 10% thereafter. The Facility initially consisted of three tranches of $5.0 million each. RCF advanced $3.0 million of the first $5.0 million tranche shortly following the closing of the Loan Agreement, and on January 29, 2014, the stockholders approved the Loan Agreement and the issuance of shares thereunder. Following such approval, on February 4, 2014, the Company drew the remaining $2.0 million of the first tranche. On April 29, 2014, the Company, it subsidiaries and RCF entered into Amendment No. 1 to Loan Agreement (“Amendment No. 1”), which reduced the amount available under the second tranche of the Loan Agreement from $5.0 million to $3.0 million and terminated RCF’s commitment relating to the $5.0 million third tranche of the Loan Agreement. As a consequence, the aggregate amount available under the Loan Agreement decreased from $15.0 million to $8.0 million. Following execution of Amendment No. 1, the Company requested, and RCF advanced, the final $3.0 million available under the Loan Agreement. The Company and RCF entered into Amendment No. 2 to Loan Agreement on November 5, 2014 to reflect the exchange of certain properties pursuant to the Company’s November 2014 asset exchange with Rio Grande Resources, including RCF’s security interest in such properties. RCF may at any time convert amounts drawn under the Loan Agreement (including amounts previously repaid) into shares of URI common stock at an initial rate of $2.60 per share. The conversion rate is subject to customary anti-dilution adjustments. If RCF were to elect to convert the $8.0 million outstanding under the Loan Agreement, the Company would issue 3,076,923 shares of common stock to RCF. For a more complete description of the terms of the Loan Agreement, see the disclosure set forth under Item 3.02 to the Form 8-K filed by the Company on February 4, 2014,

RCF beneficially owned approximately 31.0% of the Company's outstanding common stock as of April 30, 2015. In addition, under a Stockholders' Agreement between RCF and the Company dated March 1, 2012, as subsequently modified by the Bridge Loan Agreement and the Loan Agreement, RCF has certain rights to designate nominees to the Board of Directors. See "Arrangements Regarding Election of Directors" on page 6 of this Form 10-K/A. The Company's agreements and transactions with RCF could therefore be considered Related Party Transactions. Each of the Investment Agreement, Stockholders' Agreement, Registration Rights Agreement, Bridge Loan Agreement, Standby Purchase Agreement and Loan Agreement were approved unanimously by the Board, including all members of the Audit Committee.

DIRECTOR INDEPENDENCE

The Board annually reviews all relationships that directors have with the Company to affirmatively determine whether the directors are "independent" under NASDAQ listing standards. The Board has determined that each of Messrs. Cryan, Kaiser, Stevenson and Wheatley is "independent" and as a result, each member of the Audit Committee, Compensation Committee and Nominating and Corporate Governance Committee is “independent.” In arriving at the foregoing independence determination, the Board of Directors considered transactions and relationships between each director or any member of his immediate family and the Company, its subsidiaries or its affiliates. The Board has determined that the directors designated as "independent" have no relationship with the Company that would interfere with the exercise of their independent judgment in carrying out the responsibilities of a director.

22

ITEM 14.  PRINCIPAL ACCOUNTANT FEES AND SERVICES

AUDIT AND NON-AUDIT FEES

The following table presents fees billed for professional audit services rendered by Hein & Associates LLP, the Company's independent registered public accountants, for the audit of the Company's annual financial statements for 2013 and 2014, and fees billed for other services rendered by Hein & Associates LLP.

	2013	2014
Audit fees (1)	$199,012	$177,891
Audit-related fees	—	—
Tax fees	—	—
All other fees	—	—

(1)

Audit fees include fees for the audits of the Company's consolidated financial statements and for services that are usually provided by an auditor in connection with statutory and regulatory filings and engagements.

AUDIT COMMITTEE PRE-APPROVAL POLICIES AND PROCEDURES

The Audit Committee is required to pre-approve the audit and non-audit services performed by the independent auditor to assure that the provision of such services does not impair the auditor's independence. All of the foregoing services were pre-approved by the Audit Committee.

23

PART IV

ITEM 15.  EXHIBITS AND FINANCIAL STATEMENT SCHEDULES

(a)(1)

Financial Statements - see Item 8 of the Original Form 10-K filed March 19, 2015.

(2)

Financial Statement Schedules – None.

(3)

Exhibits

Exhibit Number	Description
2.1	Asset Exchange Agreement, dated September 5, 2014, among the Company, Uranco, Inc. and Rio Grande Resources Corporation (incorporated by reference to Exhibit 2.1 to the Company’s Current Report on Form 8-K filed on September 9, 2014).
2.2	First Amendment to Asset Exchange Agreement, dated November 5, 2014, among the Company, Uranco, Inc. and Rio Grande Resources Corporation (incorporated by reference to Exhibit 2.1 to the Company’s Current Report on Form 8-K filed on November 10, 2014).
3.1	Restated Certificate of Incorporation of the Company, dated February 15, 2004, as amended by the Certificate of Amendment of Restated Certificate of Incorporation of the Company, dated March 29, 2006, and the Second Certificate of Amendment of Restated Certificate of Incorporation of the Company, dated January 22, 2013 (incorporated by reference to Exhibit 3.1 to the Company’s Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2013).
3.2	Amended and Restated Bylaws of the Company effective July 30, 2013 (incorporated by reference to Exhibit 3.1 to the Company’s Current Report on Form 8-K filed on August 2, 2013).
4.1	Stockholders’ Agreement, dated as of March 1, 2012, by and between Uranium Resources, Inc. and Resource Capital Fund V L.P. (incorporated by reference to Exhibit 4.1 to the Company’s Current Report on Form 8-K filed on March 7, 2012).
4.2	Registration Rights Agreement, dated as of March 1, 2012, by and among Uranium Resources, Inc. and Resource Capital Fund V L.P. (incorporated by reference to Exhibit 4.2 to the Company’s Current Report on Form 8-K filed on March 7, 2012).
10.1*	Uranium Resources, Inc. 2004 Stock Incentive Plan (incorporated by reference to Exhibit 10.35 to the Company’s Quarterly Report on Form 10-QSB/A for the quarterly period ended September 30, 2005).
10.2*	Uranium Resources, Inc. 2007 Restricted Stock Plan (incorporated by reference to Exhibit 10.44 to the Company’s Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2007).
10.3*	Amended and Restated 2004 Directors’ Stock Option Plan dated April 10, 2007 (incorporated by reference to Exhibit 10.43 to the Company’s Post- Effective Amendment No. 1 to Registration Statement on Form S-3 filed April 11, 2007, SEC File No. 333-133960)
10.4*	Amended and Restated 2004 Directors’ Stock Option and Restricted Stock Plan dated April 1, 2010 (incorporated by reference to Exhibit 10.43.1 to the Company’s Quarterly Report on Form 10-Q for the quarterly period ended June 30, 2010).
10.5*	Uranium Resources, Inc. 2013 Omnibus Incentive Plan (incorporated by reference to Exhibit 10.1 to the Company’s Current Report on Form 8-K filed on June 7, 2013).
10.6*	Form of Restricted Stock Agreement under the Company’s 2013 Omnibus Incentive Plan (incorporated by reference to Exhibit 10.2 to the Company’s Current Report on Form 8-K filed on June 7, 2013).
10.7*	Form of Non-Qualified Stock Option Agreement under the Company’s 2013 Omnibus Incentive Plan (incorporated by reference to Exhibit 10.3 to the Company’s Current Report on Form 8-K filed on June 7, 2013).
10.8*	Form of Restricted Stock Unit Agreement under the Company’s 2013 Omnibus Incentive Plan (incorporated by reference to Exhibit 10.4 to the Company’s Current Report on Form 8-K filed on June 7, 2013).
10.9*	Employment Agreement, dated March 12, 2013, between the Company and Christopher M. Jones (incorporated by reference to Exhibit 10.2 to the Company’s Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2013).
10.10*	Employment Agreement, effective June 14, 2013, between the Company and Jeffrey L. Vigil (incorporated by reference to Exhibit 10.5 to the Company’s Quarterly Report on Form 10-Q for the quarterly period ended June 30, 2013).
10.11	Loan Agreement, dated November 13, 2013, among the Company, those subsidiaries of the Company from time to time party thereto, and Resource Capital Fund V L.P. (incorporated by reference to Exhibit 4.2 to the Company’s Current Report on Form 8-K filed on November 19, 2013).
10.12	Amendment No. 1 to Loan Agreement, dated April 29, 2014, among the Company, those subsidiaries of the Company from time to time party hereto, and Resource Capital Fund V L.P. (incorporated by reference to Exhibit 10.1 to the Company’s Current Report on Form 8-K filed on April 30, 2014.)
10.13	Amendment No. 2 to Loan Agreement, dated November 5, 2014, among the Company, those subsidiaries of the Company from time to time party hereto, and Resource Capital Fund V L.P. (incorporated by reference to Exhibit 10.13 to the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2014).
10.14	Agreement for the Sale of Uranium Concentrates between UG U.S.A., Inc. and Uranium Resources, Inc. dated March 31, 2006 (incorporated by reference to Exhibit 10.38 to the Company’s Annual Report on Form 10- KSB for the fiscal year ended December 31, 2005).
10.15	Uranium Supply Contract, effective July 11, 2013, between URI, Inc. and ITOCHU International Inc. (incorporated by reference to Exhibit 10.1 to the Company’s Current Report on Form 8-K filed on July 18, 2013).
21.1	Subsidiaries of the Registrant (incorporated by reference to Exhibit 21.1 to the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2014).
23.1	Consent of Independent Registered Public Accounting Firm (incorporated by reference to Exhibit 23.1 to the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2014).
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.
32.1	Certification of Chief Executive Officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 (incorporated by reference to Exhibit 32.1 to the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2014).
32.2	Certification of Chief Financial Officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 (incorporated by reference to Exhibit 32.2 to the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2014).
101	The following financial information from the annual report on Form 10-K of Uranium Resources, Inc. for the year ended December 31, 2014, formatted in XBRL (extensible Business Reporting Language): (i) Condensed Consolidated Statements of Operations, (ii) Condensed Consolidated Balance Sheets, (iii) Condensed Consolidated Statements of Cash Flows, (iv) Condensed Consolidated Statements of Changes in Equity, and (v) Notes to the Condensed Consolidated Financial Statements.

_________________

*

Indicates management contract or compensatory plan or arrangement.

25

SIGNATURES

Pursuant to the requirements of Section 13 or 15(d) 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.

Date: April 30, 2015

URANIUM RESOURCES, INC.
By:	/s/ CHRISTOPHER M. JONES Christopher M. Jones, President and Chief Executive Officer

EX-31

Exhibit 31.1

Certification of Chief Executive Officer

Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002

I, Christopher M. Jones, certify that:

1.

I have reviewed this annual report on Form 10-K/A of Uranium Resources, Inc.; and

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;

Date: April 30, 2015

/s/ CHRISTOPHER M. JONES
Title:	President and Chief Executive Officer

EX-31

Exhibit 31.2

Certification of Chief Financial Officer

Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002

I, Jeffrey L. Vigil, certify that:

1.

I have reviewed this annual report on Form 10-K/A of Uranium Resources, Inc.;

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;

Date: April 30, 2015

/s/ JEFFREY L. VIGIL
Title:	Vice President—Finance and Chief Financial Officer

XML

Convertible Loan, Related Party - Schedule of Issuance of Common Stock for Settlement of Interest Expense, Commitment Fees and Establishment Fee (Details) (USD $) In Thousands, except Share data, unless otherwise specified	12 Months Ended
	Dec. 31, 2014
Shares of common stock issued, Amount	$ 1,038
Shares of common stock issued, Shares	428,765
Establishment Fee [Member]
Shares of common stock issued, Amount	300
Shares of common stock issued, Shares	117,188
Volume Weighted Average Price	$ 2.5600
Date of Issuance	Feb. 04, 2014
Interest Payment and Commitment Fee [Member]
Shares of common stock issued, Amount	63
Shares of common stock issued, Shares	21,218
Volume Weighted Average Price	$ 2.9731
Date of Issuance	Feb. 04, 2014
Interest Payment and Commitment Fee One [Member]
Shares of common stock issued, Amount	138
Shares of common stock issued, Shares	45,737
Volume Weighted Average Price	$ 3.0209
Date of Issuance	Apr. 10, 2014
Interest Payment and Commitment Fee Two [Member]
Shares of common stock issued, Amount	175
Shares of common stock issued, Shares	69,233
Volume Weighted Average Price	$ 2.6561
Date of Issuance	Jul. 25, 2014
Interest Payment [Member]
Shares of common stock issued, Amount	164
Shares of common stock issued, Shares	72,477
Volume Weighted Average Price	$ 2.7595
Date of Issuance	Oct. 02, 2014
Interest Payment One [Member]
Shares of common stock issued, Amount	$ 198
Shares of common stock issued, Shares	102,912
Volume Weighted Average Price	$ 1.9434
Date of Issuance	Jan. 02, 2015

XML

Stock Based Compensation - Summary of Restricted Stock Awards (Details) (Restricted Stock Awards [Member], USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Restricted Stock Awards [Member]
Number of restricted stock Awards, Unvested RSUs Beginning of period	54,151	40,870
Number of restricted stock Awards, Granted		50,000
Number of restricted stock Awards, Forfeited	(5,601)	(4,220)
Number of restricted stock Awards, Vested	(21,880)	(32,499)
Number of restricted stock Awards, Unvested RSUs End of period	26,670	54,151
Weighted Average Grant Date Fair Value, Unvested RSUs Beginning of period	$ 5.49	$ 9.10
Weighted Average Grant Date Fair Value, Granted		$ 2.73
Weighted Average Grant Date Fair Value, Forfeited	$ 5.39	$ 12.74
Weighted Average Grant Date Fair Value, Vested	$ 5.85	$ 4.85
Weighted Average Grant Date Fair Value, Unvested RSUs Beginning of period	$ 5.21	$ 5.49

XML

Other Long-Term Liabilities and Deferred Credits - Schedule of Other Long-Term Liabilities and Deferred Credits (Details) (USD $) In Thousands, unless otherwise specified	Dec. 31, 2014		Dec. 31, 2013
Other long-term liabilities and deferred credits	$ 950		$ 1,354
Royalties Payable [Member]
Other long-term liabilities and deferred credits	500	[1]	500	[1]
Crownpoint Property [Member]
Other long-term liabilities and deferred credits	450	[1]	450	[1]
GE Purchase Contract [Member]
Other long-term liabilities and deferred credits		[2]	$ 400	[2]

[1] Royalties payble and Crownpoint property liability were derived during prior years of production. Liabilities do not accrue interest or have a stated maturity date.

[2] Balance is due on August 1, 2015 and has been reclassified to short-term accrued liabilities as of December 31, 2014.

XML

Federal Income Taxes (Details Narrative) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Dec. 31, 2014
Increase in valuation allowance	$ 3,891
Percentage of valuation allowance recorded against the net deferred tax assets	100.00%
Net operating loss carryforwards	206,364
Neutron Energy Inc [Member]
Net operating loss carryforwards	$ 32,826
Minimum [Member]
Operating loss carryforwards expiration year	2018
Maximum [Member]
Operating loss carryforwards expiration year	2034

XML

Asset Retirement Obligations - Summary of Asset Retirement Obligation (Details) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Asset Retirement Obligation Disclosure [Abstract]
Balance, beginning of period	$ 3,834	$ 4,498
Additions, changes in estimates and other	136	584
Liabilities settled	(199)	(1,638)
Accretion expense	425	390
Balance, end of period	4,196	3,834
Less: Current portion	(196)
Non-current Portion	$ 4,000	$ 3,834

XML

Liquidity (Details Narrative) (USD $) In Thousands, unless otherwise specified	12 Months Ended		1 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Nov. 30, 2013	Dec. 31, 2012
Working capital surplus (deficit)	$ 3,761	$ (1,226)
Increase in working capital during the period	4,987
Net increase/(decrease) in cash and cash equivalents	4,453	(3,549)
Cash and cash equivalents	5,570	1,117		4,666
Debt maturity period	Nov. 13, 2014
Maximum [Member] | ATM Sales Agreement [Member]
Proceeds from issuance aggregate offering price	15,000
Convertible Secured Debt Facility [Member]
Net increase/(decrease) in cash and cash equivalents			8,000
Debt maturity period			Dec. 31, 2016
March 2015 [Member]
Proceeds from issuance aggregate offering price	5,400
February 2014 [Member]
Proceeds from issuance aggregate offering price	9,307
March,19, 2015 [Member] | ATM Sales Agreement [Member]
Available for sale Securities	$ 6,000

XML

Federal Income Taxes - Schedule of Reconciliation of Expected Income Tax on Net Income at Statutory Rates (Details) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Income Tax Disclosure [Abstract]
Net loss	$ (10,684)	$ (20,294)
Statutory tax rate	34.00%	34.00%
Tax recovery at statutory rate	(3,633)	(6,900)
Change in tax rates		636
Mineral property adjustments	1,975	(4,210)
Stock based compensation	12	416
Operating loss carryfoward adjustment	(2,251)	636
Nondeductible write-offs	6	126
Change in valuation allowance	3,891	9,296
Income tax expense (recovery)	$ 0	$ 0

XML

Derivative Liability (Tables)

12 Months Ended

Dec. 31, 2014

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Assumptions Used in Calculation of Derivative Liability Using Black-Scholes Option Pricing Model

The fair value of the derivative liability as of November 13, 2014 has been calculated using the Black-Scholes option pricing model with the following assumptions:

Risk-free interest rate	0.53%
Expected life of derivative liability	2.13 years
Expected volatility	85.76%
Dividend rate	N/A

Schedule of Changes in Derivative Liability Related to Conversion Feature

The change in the derivative liability related to the conversion feature is as follows:

	December 31,
	2014			2013
Fair value of derivative liability at beginning of period	$	2,169		$	-
Fair value of $2,000 drawdown		1,556			-
Fair value of $3,000 drawdown		1,691			2,061
Change in fair value of derivative liability		(2,919	)		108
Reclassification to equity		(2,497	)		-
Fair value of derivative liability at end of period		-		$	2,169

XML

Stock Based Compensation (Details Narrative) (USD $) In Thousands, except Share data, unless otherwise specified	12 Months Ended		1 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Mar. 31, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock compensation expense	$ 1,031	$ 381
2013 Omnibus Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of common stock shares reserved for future issuance	646,180
Shares vested grant date fair value			$ 192
2013 Omnibus Incentive Plan [Member] | Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of common stock shares reserved for future issuance	1,000,000
Employee stock options maximum vesting term	10 years
Employee Stock Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation cost from unvested stock options	83
Weighted average period of unvested stock options	1 year 5 months 9 days
Restricted Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation cost from unvested stock options	860
Weighted average period of unvested stock options	2 years 2 months 9 days
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares vested grant date fair value	$ 2.61	$ 3.31
Unrecognized compensation cost from unvested stock options	$ 57
Weighted average period of unvested stock options	11 months 27 days

XML

Derivative Liability - Schedule of Assumptions Used in Calculation of Derivative Liability Using Black-Scholes Option Pricing Model (Details)	0 Months Ended
	Nov. 13, 2014
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Risk-free interest rate	0.53%
Expected life of derivative liability	2 years 1 month 17 days
Expected volatility	85.76%
Dividend rate	0.00%

XML

Property, Plant and Equipment - Schedule of Mineral Property Expenditures (Details) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Total expense for the period	$ 3,502	$ 5,215
Kingsville Dome Project [Member]
Total expense for the period	862	2,378
Rosita Project [Member]
Total expense for the period	817	508
Vasquez Project [Member]
Total expense for the period	518	120
Alta Mesa Este Exploration Project [Member]
Total expense for the period	11
Butler Ranch Exploration Project [Member]
Total expense for the period	32
Sejita Dome Exploration Project [Member]
Total expense for the period
Crownpoint Project [Member]
Total expense for the period	5	268
Churchrock Project [Member]
Total expense for the period	109	250
Cebolleta Property [Member]
Total expense for the period	571	585
Juan Tafoya Property [Member]
Total expense for the period	413	474
Roca Honda Project [Member]
Total expense for the period	80	75
Nose Rock Project [Member]
Total expense for the period
West Largo Project [Member]
Total expense for the period	12	22
Other Project [Member]
Total expense for the period	$ 72	$ 535

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Stock Based Compensation - Summary of Fair Value of Stock Options Granted to Employees and Directors (Details) (Employees And Directors [Member])	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Expected volatility	0.00%
Risk free rate	0.00%
Expected life	0 years
Expected dividend yield	0.00%	0.00%
Minimum [Member]
Expected volatility		84.00%
Risk free rate		1.40%
Expected life		2 years 8 months 12 days
Maximum [Member]
Expected volatility		111.00%
Risk free rate		2.63%
Expected life		7 years 9 months 18 days

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Other Long-Term Liabilities and Deferred Credits (Details Narrative)	12 Months Ended
	Dec. 31, 2014
Debt maturity date	Nov. 13, 2014
Short-Term Accrued Liabilities [Member]
Debt maturity date	Aug. 01, 2015

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Summary of Significant Accounting Policies

12 Months Ended

Dec. 31, 2014

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Use of Estimates

The preparation of financial statements in conformity with generally accepted accounting principles in the U.S. (“US GAAP”) requires management to make certain estimates and assumptions. Such estimates and assumptions affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. The most significant estimates included in the preparation of the financial statements are related to asset retirement obligations; stock-based compensation; derivative liabilities and asset impairment, including estimates used to derive future cash flows or market value associated with those assets.

Cash and Cash Equivalents

The Company considers all highly liquid investments with a maturity of three months or less when purchased to be cash equivalents. The Company maintains cash deposits in excess of federally insured limits. The Company monitors the soundness of the financial institution and believes the Company’s risk is negligible.

Property, Plant and Equipment

Facilities and Equipment

Expenditures for new facilities or equipment and expenditures that extend the useful lives of existing facilities or equipment are capitalized and recorded at cost. The facilities and equipment are amortized using the units of production method. During the periods that our facilities are not in production, depreciation of our facilities and equipment is suspended as the assets are not in service.

Uranium Properties

Mineral rights acquisition costs are capitalized when incurred, and exploration costs are expensed as incurred. When we determine that a mineral right can be economically developed in accordance with U.S. GAAP, the costs then incurred to develop such property will be capitalized. During the periods that our facilities are not in production, depletion of our mineral interests, permits, licenses and development properties is suspended as the assets are not in service. If mineral properties are subsequently abandoned or impaired, any undepleted costs will be charged to loss in that period.

Other Property, Plant and Equipment

Other property, plant and equipment consists of corporate office equipment, furniture and fixtures and transportation equipment. Depreciation on other property is computed based upon the estimated useful lives of the assets. Repairs and maintenance costs are expensed as incurred. Gain or loss on disposal of such assets is recorded as other income or expense as such assets are disposed.

Asset Impairment

The Company reviews and evaluates its long-lived assets for impairment when events or changes in circumstances indicate that the related carrying amounts may not be recoverable. Impairment is considered to exist if the total estimated future cash flows on an undiscounted basis are less than the carrying amount of the assets. An impairment loss is measured and recorded based on discounted estimated future cash flows or upon an estimate of fair value that may be received in an exchange transaction. Future cash flows are estimated based on quantities of recoverable minerals, expected uranium prices, production levels and operating costs of production and capital, based upon the projected remaining future uranium production from each project. Existing proven and probable reserves and value beyond proven and probable reserves, including mineralization that is not part of the measured, indicated or inferred resource base, are included when determining the fair value of mine site reporting units at acquisition and, subsequently, in determining whether the assets are impaired. The term “recoverable minerals” refers to the estimated amount of uranium that will be obtained after taking into account losses during processing and treatment. In estimating future cash flows, assets are grouped at the lowest level for which there are identifiable cash flows that are largely independent of future cash flows from other asset groups. The Company’s estimates of future cash flows are based on numerous assumptions and it is possible that actual future cash flows will be significantly different than the estimates, as actual future quantities of recoverable minerals, uranium prices, production levels and operating costs of production and capital are each subject to significant risks and uncertainties.

Restricted Cash

At December 31, 2014 and 2013, the Company had pledged certificates of deposit and money market accounts of $3,941 and $4,011, respectively, in order to collateralize performance bonds required for future restoration and reclamation obligations related to the Company’s South Texas production and development properties. These funds are not readily available to the Company and are not included in cash equivalents.

Asset Retirement Obligations

Various federal and state mining laws and regulations require the Company to reclaim the surface areas and restore underground water quality for its ISR projects to the pre-existing or background average quality after the completion of mining. Asset retirement obligations, consisting primarily of estimated restoration and reclamation costs at the Company’s South Texas ISR projects, are recognized in the period incurred and recorded as liabilities at fair value. Such obligations, which are initially estimated based on discounted cash flow estimates, are accreted to full value over time through charges to accretion expense. In addition, the asset retirement cost is capitalized as part of the asset’s carrying value and amortized over the life of the related asset. If the Company does not have a recorded value for the related asset, then the asset retirement cost is expensed as incurred. Asset retirement obligations are periodically adjusted to reflect changes in the estimated present value resulting from revisions to the estimated timing or amount of restoration and reclamation costs. As the Company completes its restoration and reclamation work at its properties, the liability is reduced by the carrying value of the related asset retirement liability which is based upon the percentage of completion of each restoration and reclamation activity. Any gain or loss upon settlement is charged to income or expense and is included as part of the Company’s mineral property expense for the period. The Company reviews and evaluates its asset retirement obligations annually or more frequently at interim periods if deemed necessary.

Fair Value of Financial Instruments

Our financial instruments consist of cash equivalents, restricted cash and derivative liabilities. U.S. GAAP defines “fair value” as the price that would be received to sell an asset or be paid to transfer a liability in an orderly transaction between market participants at the measurement date (exit price) and establishes a fair-value hierarchy that prioritizes the inputs used to measure fair value using the following definitions (from highest to lowest priority):

● Level 1 — Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities.

● Level 2 — Observable inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly, including quoted prices for similar assets and liabilities in active markets; quoted prices for identical or similar assets and liabilities in markets that are not active; or other inputs that are observable or can be corroborated by observable market data by correlation or other means.

● Level 3 — Prices or valuation techniques requiring inputs that are both significant to the fair-value measurement and unobservable.

The Company considers all highly liquid instruments purchased with an original maturity of three months or less to be cash equivalents. The Company continually monitors its positions with, and the credit quality of, the financial institutions with which it invests. Periodically throughout the year, the Company has maintained balances in various U.S. operating accounts in excess of U.S. federally insured limits.

The following table presents information about financial instruments recognized at fair value on a recurring basis as of December 31, 2014 and December 31, 2013, and indicates the fair value hierarchy:

	December 31, 2014
	Level 1		Level 2		Level 3		Total
Assets
Restricted cash	$	3,941	$	-	$	-	$	3,941
Total financial assets	$	3,941	$	-	$	-	$	3,941

	December 31, 2013
	Level 1		Level 2		Level 3		Total
Assets
Restricted cash	$	4,011	$	-	$	-	$	4,011
Total financial assets	$	4,011	$	-	$	-	$	4,011
Liabilities
Derivative liabilities	$	-	$	-	$	2,169	$	2,169
Total financial liabilities	$	-	$	-	$	2,169	$	2,169

Derivative Instruments

The Company reviews the terms of its equity instruments and other financing arrangements to determine whether or not there are embedded derivative instruments that are required to be accounted for separately as a derivative financial instrument. Derivative financial instruments are measured at their fair value. For derivative financial instruments that are accounted for as liabilities, the derivative instrument is initially recorded at its fair value and is then re-valued at each reporting date, with changes in the fair value reported as charges to or credits against income. The Company uses the Black-Scholes option pricing model to estimate the fair value of the derivative instruments.

The classification of derivative instruments, including whether or not such instruments should be recorded as liabilities or as equity, is reassessed at the end of each reporting period. If reclassification is required, the fair value of the derivative instrument, as of the determination date, is reclassified. Previous charges or credits to income for changes in the fair value of the derivative instrument are not reversed. Derivative instrument liabilities are classified in the balance sheet as current or non-current based on whether net-cash settlement of the derivative instrument could be required within 12 months of the balance sheet date.

Loss Per Share

Immediately following the close of trading on January 22, 2013, the Company completed a 1 for 10 reverse stock split for its common stock. With the reverse stock split, every ten shares of the Company’s issued and outstanding common stock were combined into one issued and outstanding share of common stock. The reverse stock split had no effect on the par value of the shares or the authorized number of shares of the Company. The reverse split reduced the number of URI’s outstanding common stock from approximately 161,100,000 shares to approximately 16,100,000 shares. All share and per share data herein has been retroactively adjusted for the reverse stock split.

Basic loss per share is computed using the weighted-average number of shares outstanding during the period. Diluted loss per share is not presented as the effect on the basic loss per share would be anti-dilutive. At December 31, 2014 and 2013, we had 3,782,481 and 1,743,325 in potentially dilutive securities, respectively.

Recently Issued Accounting Pronouncements

In August 2014, the Financial Accounting Standards Board (the “FASB”) issued Accounting Standards Update No. 2014-15 (ASU 2014-15), Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern, which provides guidance on determining when and how to disclose going-concern uncertainties in the financial statements. The new standard requires management to perform interim and annual assessments of an entity’s ability to continue as a going concern within one year of the date the financial statements are issued. An entity must provide certain disclosures if conditions or events raise substantial doubt about the entity’s ability to continue as a going concern. The ASU applies to all entities and is effective for annual periods ending after December 15, 2016, and interim periods thereafter, with early adoption permitted. We do not expect to early adopt this guidance and do not believe that the adoption of this guidance will have a material impact on our financial statements or related disclosures.

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Derivative Liability - Schedule of Changes in Derivative Liability Related to Conversion Feature (Details) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Fair value of derivative liability beginning balance	$ 2,169
Change in fair value of derivative liability	(2,919)	108
Reclassification to equity	(2,497)
Fair value of derivative liability end balance		2,169
Fair Value Of Derivative Liability One [Member]
Fair value of derivative liability drawdown	1,556
Fair Value Of Derivative Liability Two [Member]
Fair value of derivative liability drawdown	$ 1,691	$ 2,061

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Federal Income Taxes (Tables)

12 Months Ended

Dec. 31, 2014

Income Tax Disclosure [Abstract]

Schedule of Components of Future Tax Assets and Liabilities

Our future tax assets and liabilities at December 31, 2014 and 2013 include the following components:

	December 31,
	2014			2013
Deferred tax assets:
Non-Current:
Net operating loss carryforwards	$	71,882		$	63,539
Mineral properties		11,375			14,153
Equipment & Furniture		133			127
Restoration Reserves		1,360			1,303
Stock-based compensation		199			—
Derivatives		—			37
Deferred tax assets		84,949			79,159
Valuation allowance		(82,435	)		(78,544	)
Net	$	2,514		$	615
Deferred tax liabilities:
Current:
Prepaids and other		100		$	50
		100			50
Non-Current:
Derivatives		(956	)		—
Equipment & Furniture		(1,658	)		(665	)
		(2,614	)		(665	)
Deferred tax liabilities		(2,514	)		(615	)
Net deferred tax asset (liability)	$	—		$	—

Schedule of Reconciliation of Expected Income Tax on Net Income at Statutory Rates

A reconciliation of expected income tax on net income at statutory rates is as follows:

	Year ended December 31,
	2014			2013
Net loss	$	(10,684	)	$	(20,294	)
Statutory tax rate		34	%		34	%
Tax recovery at statutory rate		(3,633	)		(6,900	)
Change in tax rates		—			636
Mineral property adjustments		1,975			(4,210	)
Stock based compensation		12			416
Operating loss carryforward adjustment		(2,251	)		636
Nondeductible write-offs		6			126
Change in valuation allowance		3,891			9,296
Income tax expense (recovery)		$—			$—

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Stock Based Compensation (Tables)

12 Months Ended

Dec. 31, 2014

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Summary of Stock Options Outstanding

The following table summarizes stock options outstanding and changes during the years ended December 31, 2014 and 2013:

	2014					2013
	Number of stock options			Weighted Average Exercise Price		Number of stock options			Weighted Average Exercise Price
Stock options outstanding at beginning of period		309,479		$	19.75		317,270		$	24.62
Granted		-			-		65,000			2.86
Exercised		-			-		-			-
Expired		(134,731	)		12.07		-			-
Canceled or forfeited		(14,000	)		31.31		(72,791	)		25.90
Stock options outstanding at end of period		160,748		$	25.18		309,479		$	19.75
Stock options exercisable at end of period		115,333		$	33.81		226,980		$	25.57

Summary of Fair Value of Stock Options Granted to Employees and Directors

The fair value of stock options granted to employees and directors was estimated at the grant date using the Black-Scholes option pricing model using the following assumptions:

	Years ended December 31,
	2014	2013
Expected volatility	N/A	84% - 111%
Risk-free interest rate	N/A	1.40% - 2.63%
Expected life (years)	N/A	2.7 - 7.8
Dividend yield	N/A	N/A

Summary of Status of Non-Vested Restricted Shares

The following table summarizes RSU activity for the years ending December 31, 2014 and 2013:

	2014					2013
	Number of restricted stock units			Weighted-Average Grant Date Fair Value		Number of restricted stock units		Weighted-Average Grant Date Fair Value
Unvested RSUs at beginning of period		280,000		$	3.31		-	$	-
Granted		431,941			2.61		280,000		3.31
Forfeited		(29,778	)		3.38		-		-
Vested		(137,353	)		2.95		-		-
Unvested RSUs at end of period		544,810		$	2.84		280,000	$	3.31

Summary of Restricted Stock Awards

The following table summarizes RSA activity during the years ended December 31, 2014 and 2013:

	2014					2013
	Number of RSAs			Weighted-Average Grant Date Fair Value		Number of RSAs			Weighted-Average Grant Date Fair Value
Unvested RSAs at beginning of period		54,151		$	5.49		40,870		$	9.10
Granted		-			-		50,000			2.73
Forfeited		(5,601	)		5.39		(4,220	)		12.74
Vested		(21,880	)		5.85		(32,499	)		4.85
Unvested RSAs at end of period		26,670		$	5.21		54,151		$	5.49

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Federal Income Taxes - Schedule of Components of Future Tax Assets and Liabilities (Details) (USD $) In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Income Tax Disclosure [Abstract]
Net operating loss carryforwards	$ 71,882	$ 63,539
Mineral properties	11,375	14,153
Equipment & Furniture	133	127
Restoration Reserves	1,360	1,303
Stock-based compensation	199
Derivatives		37
Deferred tax assets	84,949	79,159
Valuation allowance	(82,435)	(78,544)
Net	2,514	615
Prepaids and other	100	50
Deferred tax liabilities current	100	50
Equipment & Furniture	(956)
Derivatives	(1,658)	(665)
Deferred tax liabilities noncurrent	(2,614)	(665)
Deferred tax liabilities	(2,514)	(615)
Net deferred tax asset (liability)

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Derivative Liability - Schedule of Changes in Derivative Liability Related to Conversion Feature (Details) (Parenthetical) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Fair Value Of Derivative Liability One [Member]
Proceeds from issuance of debt	$ 2,000
Fair Value Of Derivative Liability Two [Member]
Proceeds from issuance of debt	$ 3,000	$ 3,000

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Description of the Company (Details Narrative)	12 Months Ended
	Dec. 31, 2014 Property Facility
Number of licensed processing facilities	2
Period over properties were acquired	20 years
Number of properties currently in production	0
NRC License [Member]
Maximum uranium entity licensed to produce	3,000,000

XML

Summary of Significant Accounting Policies (Details Narrative) (USD $)
In Thousands, except Share data, unless otherwise specified

0 Months Ended

12 Months Ended

Jan. 22, 2013

Dec. 31, 2014

Dec. 31, 2013

ScheduleOfSignificantAccountingPoliciesLineItems [Line Items]

Deposit and money market accounts

$ 3,941

$ 4,011

Reverse stock split ratio

1 for 10

Common stock, shares outstanding

25,192,669

19,820,258

Potentially dilutive securities

3,782,481

1,743,325

Maximum [Member]

ScheduleOfSignificantAccountingPoliciesLineItems [Line Items]

Common stock, shares outstanding

161,100,000

Minimum [Member]

ScheduleOfSignificantAccountingPoliciesLineItems [Line Items]

Common stock, shares outstanding

16,100,000

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Basis of Presentation

12 Months Ended

Dec. 31, 2014

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Basis of Presentation

2. BASIS OF PRESENTATION

Principles of Consolidation

The consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S.”) and include the accounts of URI and its wholly-owned subsidiaries (collectively the “Company”). All significant intercompany transactions have been eliminated in consolidation.

Reclassifications

Certain reclassifications have been made to the prior years’ financial statements to conform to the current year presentation. These reclassifications had no effect on previously reported results of operations or retained earnings.

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Summary of Significant Accounting Policies - Schedule of Financial Instruments Recognized at Fair Value on Recurring Basis (Details) (USD $) In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Restricted cash	$ 3,941	$ 4,011
Total financial assets	3,941	4,011
Derivative liabilities		2,169
Total financial liabilities		2,169
Fair Value, Inputs, Level 1 [Member]
Restricted cash	3,941	4,011
Total financial assets	3,941	4,011
Derivative liabilities
Total financial liabilities
Fair Value, Inputs, Level 2 [Member]
Restricted cash
Total financial assets
Derivative liabilities
Total financial liabilities
Fair Value, Inputs, Level 3 [Member]
Restricted cash
Total financial assets
Derivative liabilities		2,169
Total financial liabilities		$ 2,169

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Convertible Loan, Related Party - Schedule of Components of Convertible Loan (Details) (USD $) In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Debt Disclosure [Abstract]
Debt principal	$ 8,000	$ 3,000
Unamortized discount	(3,655)	(1,975)
Carrying value of convertible loan, end of period	$ 4,345	$ 1,025

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Stock Based Compensation - Summary of Status of Non-Vested Restricted Shares (Details) (Restricted Stock [Member], USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of restricted stock Awards, Unvested RSUs Beginning of period	280,000
Number of restricted stock Awards, Granted	431,941	280,000
Number of restricted stock Awards, Forfeited	(29,778)
Number of restricted stock Awards, Vested	(137,353)
Number of restricted stock Awards, Unvested RSUs End of period	544,810	280,000
Weighted Average Grant Date Fair Value, Unvested RSUs Beginning of period	$ 3.31
Weighted Average Grant Date Fair Value, Granted	$ 2.61	$ 3.31
Weighted Average Grant Date Fair Value, Forfeited	$ 3.38
Weighted Average Grant Date Fair Value, Vested	$ 2.95
Weighted Average Grant Date Fair Value, Unvested RSUs Beginning of period	$ 2.84	$ 3.31

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Consolidated Balance Sheets (USD $) In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Current Assets:
Cash and cash equivalents	$ 5,570	$ 1,117
Prepaid and other current assets	863	686
Total Current Assets	6,433	1,803
Property, plant and equipment, at cost:
Property, plant and equipment	98,454	96,407
Less accumulated depreciation, depletion and impairment	(65,724)	(65,566)
Net property, plant and equipment	32,730	30,841
Restricted cash	3,941	4,011
Total Assets	43,104	36,655
Current Liabilities:
Accounts payable	796	1,243
Accrued liabilities	1,680	1,786
Current portion of asset retirement obligations	196
Total Current Liabilities	2,672	3,029
Asset retirement obligations, net of current portion	4,000	3,834
Derivative liability - convertible loan		2,169
Convertible loan, net of discount - related party	4,345	1,025
Other long-term liabilities and deferred credits	950	1,354
Total Liabilities	11,967	11,411
Commitments and Contingencies
Stockholders' Equity:
Common stock, 200,000,000 shares authorized, $.001 par value; Issued shares - 25,288,113 and 19,824,071, respectively Outstanding shares - 25,192,669 and 19,820,258, respectively	25	20
Paid-in capital	233,524	216,703
Accumulated deficit	(202,154)	(191,470)
Less: Treasury stock (95,444 and 3,813 shares, respectively), at cost	(258)	(9)
Total Stockholders' Equity	31,137	25,244
Total Liabilities and Stockholders' Equity	$ 43,104	$ 36,655

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Asset Retirement Obligations (Details Narrative) (USD $) In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Restricted cash	$ 3,941	$ 4,011
Surety Bond [Member]
Surety bonds	$ 9,169

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Consolidated Statements of Cash Flows and Supplemental Cash Flow Information (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Operating activities:
Net loss	$ (10,684)	$ (20,294)
Reconciliation of net loss to cash used in operations:
Accretion of asset retirement obligations	425	390
Amortization of debt discount	1,567	87
Amortization of debt issuance costs	100
Change in fair value of derivative liability	(2,919)	108
Decrease in restoration and reclamation accrual	(96)	(1,638)
Depreciation and amortization	331	448
Gain on non-monetary exchange of assets	(2,313)
Impairment of uranium properties	160	4,095
Stock compensation expense	1,031	381
Common stock issued for land obligation	342
Loss on disposal of fixed assets	18
Other non-cash items, net	23	113
Effect of changes in operating working capital items:
Decrease in receivables	37	229
Increase in prepaid and other current assets	(231)	(207)
Increase in payables, accrued liabilities and deferred credits	203	948
Net cash used in operating activities	(12,006)	(15,340)
Cash flows from investing activities:
Reduction in restricted cash		5,481
Additions to uranium properties		(174)
Purchases of equipment	(55)
Proceeds from disposal of property, plant and equipment	4
Net cash provided by/(used in) investing activities	(51)	5,307
Cash flows from financing activities:
Proceeds from convertible loan	5,000	3,000
Payments on borrowings	(11)	(116)
Issuance of common stock, net	11,880	3,600
Purchase of treasury stock	(249)
Payment of minimum withholding taxes on net share settlements of equity awards	(110)
Net cash provided by financing activities	16,510	6,484
Net increase/(decrease) in cash and cash equivalents	4,453	(3,549)
Cash and cash equivalents, beginning of period	1,117	4,666
Cash and cash equivalents, end of period	5,570	1,117
Cash paid during the period for:
Interest		11
Supplemental non-cash information with respect to investing and financing activities:
Common stock issued for payment of convertible loan fees and interest	840
Common stock issued for repayment of short-term loan principal and interest		5,096
Common stock issued for the settlement of litigation	334
Common stock issued for services		291
Total non-cash investing and financing activities for the period	$ 1,174	$ 5,387

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Subsequent Event (Details Narrative) (Securities Purchase Agreement [Member], Subsequent Event [Member], USD $) In Thousands, except Share data, unless otherwise specified	0 Months Ended
	Mar. 06, 2015
Securities Purchase Agreement [Member] | Subsequent Event [Member]
Proceeds from issuance initial public offering	$ 6,000
Proceeds from agent's fees and estimated offering expenses	$ 5,400
Sales of common stock, shares	4,000,000
Sale of common stock price per shares	$ 1.50
Issuance of warrant to purchases of common stock each unit consist of one shares	$ 0.55
Common stock exercise price per whole shares	$ 2.00
Warrant exercisable period at beginning	5 years
Warrant exercisable period at ending	5 years

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Property, Plant and Equipment - Schedule of Property, Plant and Equipment (Details) (USD $) In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Property plant and equipment balances, net	$ 32,730	$ 30,841
Uranium Plant [Member]
Property plant and equipment balances, net	8,921	9,190
Mineral Rights and Properties [Member]
Property plant and equipment balances, net	22,063	19,750
Vehicles [Member]
Property plant and equipment balances, net	264	568
Other Property Plant and Equipment [Member]
Property plant and equipment balances, net	$ 1,482	$ 1,333

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Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2014

Accounting Policies [Abstract]

Schedule of Financial Instruments Recognized at Fair Value on Recurring Basis

The following table presents information about financial instruments recognized at fair value on a recurring basis as of December 31, 2014 and December 31, 2013, and indicates the fair value hierarchy:

	December 31, 2014
	Level 1		Level 2		Level 3		Total
Assets
Restricted cash	$	3,941	$	-	$	-	$	3,941
Total financial assets	$	3,941	$	-	$	-	$	3,941

	December 31, 2013
	Level 1		Level 2		Level 3		Total
Assets
Restricted cash	$	4,011	$	-	$	-	$	4,011
Total financial assets	$	4,011	$	-	$	-	$	4,011
Liabilities
Derivative liabilities	$	-	$	-	$	2,169	$	2,169
Total financial liabilities	$	-	$	-	$	2,169	$	2,169

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Property, Plant and Equipment - Summary of Impairment Expense by Project (Details) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Total Impairment	$ 160	$ 4,095
Kingsville Dome Project [Member]
Total Impairment	160	474
Rosita Project [Member]
Total Impairment		2,821
Vasquez Project [Member]
Total Impairment		276
Ambrosia Lake Project [Member]
Total Impairment		512
Other Project [Member]
Total Impairment		$ 12

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Convertible Loan, Related Party (Tables)

12 Months Ended

Dec. 31, 2014

Debt Disclosure [Abstract]

Schedule of Issuance of Common Stock for Settlement of Interest Expense, Commitment Fees and Establishment Fee

Accordingly, the Company has issued the following shares of common stock for settlement of interest expense, commitment fees and the establishment fee:

	Amount		Shares of common stock issued		VWAP		Date of issuance
Establishment fee	$	300		117,188	$	2.5600		February 4, 2014
Q4 2013 Interest payment and commitment fee		63		21,218	$	2.9731		February 4, 2014
Q1 2014 Interest payment and commitment fee		138		45,737	$	3.0209		April 10, 2014
Q2 2014 Interest payment and commitment fee		175		69,233	$	2.6561		July 25, 2014
Q3 2014 Interest payment		164		72,477	$	2.7595		October 2, 2014
Q4 2014 Interest payment		198		102,912	$	1.9434		January 2, 2015
Total	$	1,038		428,765

Schedule of Components of Convertible Loan

The following table represents the key components of our convertible loan:

	December 31,
	2014			2013
Debt principal		8,000			3,000
Unamortized discount		(3,655	)		(1,975	)
Carrying value of convertible loan, end of period		4,345		$	1,025

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Description of the Company

12 Months Ended

Dec. 31, 2014

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Description of the Company

1. DESCRIPTION OF THE COMPANY

The Company is a uranium exploration, development and production company. We were organized in 1977 to acquire and develop uranium mines in South Texas using the ISR process. We have historically produced uranium by ISR methods in the state of Texas where the Company currently has ISR projects, including two licensed processing facilities. We also have mineral holdings in New Mexico and an NRC license to produce up to three million pounds per annum of uranium on certain of our New Mexico projects. We acquired these properties over the past 20 years along with an extensive information database of historic drill-hole logs and analysis. None of our properties are currently in production.

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Consolidated Balance Sheets (Parenthetical) (USD $)	Dec. 31, 2014	Dec. 31, 2013
Statement of Financial Position [Abstract]
Common stock, shares authorized	200,000,000	200,000,000
Common stock par value	$ 0.001	$ 0.001
Common stock, shares issued	25,288,113	19,824,071
Common stock, shares outstanding	25,192,669	19,820,258
Treasury stock, shares	95,444	3,813

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Stock Based Compensation

12 Months Ended

Dec. 31, 2014

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Stock Based Compensation

11. STOCK BASED COMPENSATION

Stock-based compensation awards consist of stock options, restricted stock units, restricted stock awards and bonus shares issued under the Company’s equity incentive plans which include: the 2013 Omnibus Incentive Plan (the “2013 Plan”); the 2007 Restricted Stock Plan (the “2007 Plan”); the Amended and Restated 2004 Directors’ Stock Option and Restricted Stock Plan (the “2004 Directors’ Plan”); the 2004 Stock Incentive Plan (the “2004 Plan”); and the 1995 Stock Incentive Plan (the “1995 Plan”). Upon approval of the 2013 Plan by the Company’s stockholders on June 4, 2013, the Company’s authority to grant new awards under all plans other than the 2013 Plan was terminated. Under the 2013 Plan, the Company may grant awards of stock options, stock appreciation rights, restricted stock awards (“RSAs”), restricted stock units (“RSUs”), unrestricted stock, dividend equivalent rights, performance shares and other performance-based awards, other equity-based awards and cash bonus awards to eligible persons. The maximum number of the Company’s common stock that may be reserved for issuance under the 2013 Plan is 1,000,000 shares of common stock, plus unissued shares under the prior plans. Equity awards under the 2013 Plan are granted from time to time at the discretion of the Compensation Committee of the Company (the “Committee”), with vesting periods and other terms as determined by the Committee with a maximum term of 10 years. The 2013 Plan is administered by the Committee, which can delegate the administration to the Board, other Committees or to such other officers and employees of the Company as designated by the Committee.

As of December 31, 2014, 646,180 shares of common stock were available for future issuances under the 2013 Plan. For the years ended December 31, 2014 and 2013, the Company recorded stock-based compensation cost of $1,031 and $381, respectively, which has been included in general and administrative expense.

Bonus Shares

In March 2014, in accordance with the Company’s 2013 Plan, the Company awarded its executives bonuses that were paid out in common stock of the Company. The bonus shares were valued using the closing share price of the Company’s common stock on the date of grant. The bonus shares vested immediately and had a grant date fair value of $192.

Stock Options

The following table summarizes stock options outstanding and changes during the years ended December 31, 2014 and 2013:

	2014					2013
	Number of stock options			Weighted Average Exercise Price		Number of stock options			Weighted Average Exercise Price
Stock options outstanding at beginning of period		309,479		$	19.75		317,270		$	24.62
Granted		-			-		65,000			2.86
Exercised		-			-		-			-
Expired		(134,731	)		12.07		-			-
Canceled or forfeited		(14,000	)		31.31		(72,791	)		25.90
Stock options outstanding at end of period		160,748		$	25.18		309,479		$	19.75
Stock options exercisable at end of period		115,333		$	33.81		226,980		$	25.57

Total estimated unrecognized compensation cost from unvested stock options as of December 31, 2014 was approximately $83, which is expected to be recognized over a weighted-average period of 1.44 years.

The fair value of stock options granted to employees and directors was estimated at the grant date using the Black-Scholes option pricing model using the following assumptions:

	Years ended December 31,
	2014	2013
Expected volatility	N/A	84% - 111%
Risk-free interest rate	N/A	1.40% - 2.63%
Expected life (years)	N/A	2.7 - 7.8
Dividend yield	N/A	N/A

Option pricing models require the input of highly subjective assumptions, including the expected price volatility. Expected price volatility is based on the historical volatility of our common stock. Changes in the subjective input assumptions can materially affect the fair value estimate. The expected term of the options granted is derived from the output of the option pricing model and represents the period of time that the options granted are expected to be outstanding. The risk-free rate for the periods within the contractual term of the option is based on the U.S. Treasury yield curve in effect at the date of grant.

Restricted Stock Units

Time-based and performance-based RSUs are valued using the closing share price of the Company’s common stock on the date of grant. The final number of shares issued under performance-based RSUs is generally based on the Company’s prior year performance as determined by the Compensation Committee of the Board of Directors at each vesting date, and the valuation of such awards assumes full satisfaction of all performance criteria.

The following table summarizes RSU activity for the years ending December 31, 2014 and 2013:

	2014					2013
	Number of restricted stock units			Weighted-Average Grant Date Fair Value		Number of restricted stock units		Weighted-Average Grant Date Fair Value
Unvested RSUs at beginning of period		280,000		$	3.31		-	$	-
Granted		431,941			2.61		280,000		3.31
Forfeited		(29,778	)		3.38		-		-
Vested		(137,353	)		2.95		-		-
Unvested RSUs at end of period		544,810		$	2.84		280,000	$	3.31

Total estimated unrecognized compensation cost from unvested RSUs as of December 31, 2014 was approximately $860, which is expected to be recognized over a weighted-average period of 2.19 years.

Restricted Stock Awards

Time-based and performance-based RSAs are valued using the closing share price of the Company’s common stock on the date of grant. Vesting based on performance criteria is generally based on the Company’s prior year performance as determined by the Compensation Committee at each vesting date, and the valuation of such grants assumes full satisfaction of all performance criteria. Employee participants who receive restricted stock awards have all of the rights of a shareholder, including the right to vote shares of restricted stock that are the subject of the grant and the right to receive any regular cash dividends paid out of current earnings.

The following table summarizes RSA activity during the years ended December 31, 2014 and 2013:

	2014					2013
	Number of RSAs			Weighted-Average Grant Date Fair Value		Number of RSAs			Weighted-Average Grant Date Fair Value
Unvested RSAs at beginning of period		54,151		$	5.49		40,870		$	9.10
Granted		-			-		50,000			2.73
Forfeited		(5,601	)		5.39		(4,220	)		12.74
Vested		(21,880	)		5.85		(32,499	)		4.85
Unvested RSAs at end of period		26,670		$	5.21		54,151		$	5.49

The total estimated unrecognized compensation cost from the unvested RSA grants at December 31, 2014 was $57, which is expected to be recognized over the weighted-average vesting period of 0.99 years.

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Document and Entity Information (USD $) In Thousands, except Share data, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Mar. 19, 2015	Jun. 30, 2014
Document And Entity Information
Entity Registrant Name	URANIUM RESOURCES INC /DE/
Entity Central Index Key	0000839470
Document Type	10-K
Document Period End Date	Dec. 31, 2014
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity a Well-known Seasoned Issuer	No
Entity a Voluntary Filer	No
Entity's Reporting Status Current	Yes
Entity Filer Category	Smaller Reporting Company
Entity Public Float			$ 45,800
Entity Common Stock, Shares Outstanding		29,641,527
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2014

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Federal Income Taxes

12 Months Ended

Dec. 31, 2014

Income Tax Disclosure [Abstract]

Federal Income Taxes

12. FEDERAL INCOME TAXES

We recognize future tax assets and liabilities for each tax jurisdiction based on the difference between the financial reporting and tax bases of assets and liabilities using the enacted tax rates expected to be in effect when the taxes are paid or recovered. A valuation allowance is provided against net future tax assets for which we do consider the realization of such assets to meet the required “more likely than not” standard.

Our future tax assets and liabilities at December 31, 2014 and 2013 include the following components:

	December 31,
	2014			2013
Deferred tax assets:
Non-Current:
Net operating loss carryforwards	$	71,882		$	63,539
Mineral properties		11,375			14,153
Equipment & Furniture		133			127
Restoration Reserves		1,360			1,303
Stock-based compensation		199			—
Derivatives		—			37
Deferred tax assets		84,949			79,159
Valuation allowance		(82,435	)		(78,544	)
Net	$	2,514		$	615
Deferred tax liabilities:
Current:
Prepaids and other		100		$	50
		100			50
Non-Current:
Derivatives		(956	)		—
Equipment & Furniture		(1,658	)		(665	)
		(2,614	)		(665	)
Deferred tax liabilities		(2,514	)		(615	)
Net deferred tax asset (liability)	$	—		$	—

The valuation allowance increased $3,891 from the year ended December 31, 2013 to the year ended December 31, 2014. This was the result of an increase in the net deferred tax assets, primarily net operating loss carryforwards (“NOLs”), equity based compensation, and exploration spending on mineral properties. Because we are unable to determine whether it is more likely than not that the net deferred tax assets will be realized, we continue to record a 100% valuation against the net deferred tax assets.

At December 31, 2014, we had U.S. net operating loss carryforwards of approximately $206,364, which expire from 2018 to 2034. This included approximately $32,826 in net operating loss carryforwards associated with the Neutron merger.

Section 382 of the Internal Revenue Code could apply and limit our ability to utilize a portion of the US net operating loss carryforwards. Following the issuance of the Company’s Common Stock in 2001 and the Neutron merger in 2012, the ability to utilize the net operating loss carryforwards will be severely limited on an annual and aggregate basis. A formal Section 382 study has not been completed, therefore the actual usage of US net operating loss carryforwards has not been determined. Similar limitations apply to the state net operating loss carryforwards related to the Neutron acquisition.

A reconciliation of expected income tax on net income at statutory rates is as follows:

	Year ended December 31,
	2014			2013
Net loss	$	(10,684	)	$	(20,294	)
Statutory tax rate		34	%		34	%
Tax recovery at statutory rate		(3,633	)		(6,900	)
Change in tax rates		—			636
Mineral property adjustments		1,975			(4,210	)
Stock based compensation		12			416
Operating loss carryforward adjustment		(2,251	)		636
Nondeductible write-offs		6			126
Change in valuation allowance		3,891			9,296
Income tax expense (recovery)		$—			$—

We do not have any unrecognized income tax benefits. Should we incur interest and penalties relating to tax uncertainties, such amounts would be classified as a component of the interest expense and operating expense, respectively.

Uranium Resources, Inc., and its wholly owned subsidiaries, files in the U.S. federal jurisdiction and various state jurisdictions. The years still open for audit are generally the current year plus the previous three. However, because we have NOLs carrying forward, certain items attributable to closed tax years are still subject to adjustment by applicable taxing authorities through an adjustment to tax losses carried forward to open years.

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Consolidated Statements of Operations (USD $) In Thousands, except Share data, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Operating Expenses:
Mineral property expenses	$ (3,502)	$ (5,215)
General and administrative	(9,132)	(9,707)
Accretion of asset retirement obligations	(425)	(390)
Depreciation and amortization	(331)	(448)
Impairment of uranium properties	(160)	(4,095)
Total operating expenses	(13,550)	(19,855)
Non-Operating Income/(Expenses):
Gain/(loss) on derivatives	2,919	(108)
Interest expense	(2,368)	(408)
Gain on non-monetary exchange of assets	2,313
Other income, net	2	77
Total other income/(expense)	2,866	(439)
Net Loss	$ (10,684)	$ (20,294)
BASIC AND DILUTED LOSS PER SHARE	$ (0.44)	$ (1.06)
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING	24,282,519	19,191,056

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Convertible Loan, Related Party

12 Months Ended

Dec. 31, 2014

Debt Disclosure [Abstract]

Convertible Loan, Related Party

6. CONVERTIBLE LOAN, RELATED PARTY

On November 13, 2013, the Company, together with each of its subsidiaries as guarantors, entered into a loan agreement (the “Loan Agreement”) with Resource Capital Fund V L.P. (“RCF”), whereby RCF agreed, subject to the terms and conditions set forth in the Loan Agreement, to provide a secured convertible loan facility of up to $15,000 to the Company. The facility initially consisted of three tranches of $5,000 each. RCF advanced $3,000 of the first $5,000 tranche shortly following the closing of the Loan Agreement in November 2013 and on January 29, 2014, the Company’s stockholders, excluding RCF, approved the Loan Agreement and the issuance of shares thereunder. Following such approval, RCF advanced the remaining $2,000 of the first tranche on February 4, 2014. On April 29, 2014, the Company and RCF executed an amendment to the Loan Agreement which reduced the amount available thereunder from $15,000 to $8,000, and on April 30, 2014, the Company requested, and RCF advanced, the final $3,000 available under the Loan Agreement. The total amount drawn under the Loan Agreement after receipt ofthis advance is $8,000. No additional amounts may be drawn under the Loan Agreement.

Amounts drawn under the Loan Agreement mature on December 31, 2016 and bear interest at 12% per annum through January 29, 2014 and 10% per annum thereafter, payable quarterly in arrears in shares of the Company’s common stock or, at RCF’s election, in cash. Additionally, the Company paid a commitment fee quarterly equal to 1% of the amount available, but not drawn, under the Loan Agreement. In connection with the Loan Agreement the Company also paid, in shares of the Company’s common stock, a 2% loan establishment fee in the amount of $300 to RCF. The number of shares to be issued as payment for interest and fees is determined based upon the volume weighted-average price (“VWAP”) of the Company’s common stock for the 20 trading days preceding the last day of each quarter for interest payments and commitment fees and the 20 trading days preceding October 17, 2013 for the loan establishment fee. Accordingly, the Company has issued the following shares of common stock for settlement of interest expense, commitment fees and the establishment fee:

	Amount		Shares of common stock issued		VWAP		Date of issuance
Establishment fee	$	300		117,188	$	2.5600		February 4, 2014
Q4 2013 Interest payment and commitment fee		63		21,218	$	2.9731		February 4, 2014
Q1 2014 Interest payment and commitment fee		138		45,737	$	3.0209		April 10, 2014
Q2 2014 Interest payment and commitment fee		175		69,233	$	2.6561		July 25, 2014
Q3 2014 Interest payment		164		72,477	$	2.7595		October 2, 2014
Q4 2014 Interest payment		198		102,912	$	1.9434		January 2, 2015
Total	$	1,038		428,765

As of December 31, 2014, interest expense of $198 relating to the three months ended December 31, 2014 was included in accrued liabilities on the Company’s Consolidated Balance Sheets.

The Company’s obligations under the Loan Agreement are secured by pledges on the equity interests of the Company’s subsidiaries and a lien on substantially all of the assets of the Company and its subsidiaries. The Company may prepay all or any portion of the amounts drawn under the Loan Agreement without penalty, subject to a minimum prepayment amount of $5,000 or (if lower) the full amount then outstanding. Prepaid amounts may not be redrawn. The loan agreement contains customary representations, warranties, covenants and events of default and grants RCF the right to designate two nominees to the Company’s Board of Directors so long as any obligations remain outstanding under the Loan Agreement.

RCF may convert amounts drawn under the Loan Agreement into shares of the Company’s common stock at any time prior to maturity on December 31, 2016. The conversion price was initially set at $2.60 per share and was subject to customary anti-dilution adjustments and further downward adjustment, subject to a floor of $1.00 per share, in the case of certain equity issuances by the Company before November 13, 2014.

As discussed in Note 7 below, the conversion feature prior to the expiration of the anti-dilution clause was considered to be an embedded derivative. The initial fair value measurement of the derivative liability as determined on the date of each advance has been recognized as a debt discount and is amortized over the life of the Loan Agreement.

The following table represents the key components of our convertible loan:

	December 31,
	2014			2013
Debt principal		8,000			3,000
Unamortized discount		(3,655	)		(1,975	)
Carrying value of convertible loan, end of period		4,345		$	1,025

For the periods ended December 31, 2014 and 2013, the Company recorded amortization of debt discount of $1,567 and $87, which has been included in interest expense in the Company’s Consolidated Statement of Operations.

As of March 19, 2015, RCF owned approximately 6.9 million shares or 23.5% of the Company’s outstanding common stock. If RCF were to convert the entire $8,000 outstanding under the Loan Agreement, RCF would receive 3,076,923 shares of the Company’s common stock, and RCF’s ownership percentage in the Company would increase to approximately 30.6%.

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Property, Plant and Equipment

12 Months Ended

Dec. 31, 2014

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment

5. PROPERTY, PLANT AND EQUIPMENT

	December 31, 2014		December 31, 2013
	Net book value		Net book value
Uranium plant	$	8,921	$	9,190
Mineral rights and properties		22,063		19,750
Vehicles		264		568
Other property, plant and equipment		1,482		1,333
Total	$	32,730	$	30,841

Asset Exchange Agreement with Rio Grande Resources Corporation

On September 5, 2014, the Company, its wholly owned subsidiary Uranco, Inc. and Rio Grande Resources Corporation (“RGR”) entered into an Asset Exchange Agreement whereby the Company agreed to acquire from RGR certain uranium properties located in South Texas near the Company’s processing facilities, including, among others, the Alta Mesa Este, Butler Ranch and Sejita Dome exploration projects. In exchange for these South Texas properties, the Company agreed to transfer to RGR two parcels of fee-owned mineral rights and a royalty interest in the Roca Honda area of west-central New Mexico. The Company retained certain leases, mining claims and fee-owned mineral interest on separate parcels in the Roca Honda area. On November 6, 2014, after completing customary due diligence and satisfying certain closing conditions, the Company and RGR closed the transaction and effectuated the exchange of properties.

The Asset Exchange Agreement was determined to be a non-monetary exchange of assets having commercial substance in accordance with ASC Topic 845 which requires the assets received in an asset exchange be recorded at the fair value of the assets relinquished. The Company determined the fair value of the Roca Honda assets relinquished to be $2,313. This fair value was determined based upon the per pound value of similar transactions involving unproved uranium assets within the last 3 years. The carrying value of the Roca Honda assets relinquished in the transaction had previously been written off to nil in prior years and, as a result, the entire $2,313 was recognized as a gain on non-monetary exchange of assets and included in the Company’s Consolidated Statements of Operations.

Impairment of Property, Plant and Equipment

The Company recorded the following impairment charges for 2014 and 2013 related to its uranium projects and processing facilities:

	For the years ended December 31,
	2014		2013
Kingsville Dome Project	$	160	$	474
Rosita Project		-		2,821
Vas quez Project		-		276
Ambrosia Lake Project		-		512
Other		-		12
Total Impairment	$	160	$	4,095

The Company recorded an impairment charge of $160 on its Kingsville Dome uranium plant equipment for 2014. This impairment charge relates to the physical deterioration of the plant equipment due to the plant sitting idle and its proximity to the Texas coastline. The net carrying value of the Kingsville Dome plant equipment after impairment is $461 which is calculated as $2,461 book value less a $2,000 liability related to dismantling and decontaminating. The Company also used a third-party estimate of resale value to determine that no further impairment was needed as the Company’s third-party estimate of resale value exceeded the $461 net carrying value of the Kingsville Dome plant equipment.

The Company recorded an impairment charge of $4,095 for 2013. Of this amount, $3,331 was due to the declining uranium price market in 2013 which resulted in the write-down of its Rosita Project and its Ambrosia Lake Project to nil. The Company also recorded an impairment charge of $684 related to capitalized asset retirement obligation costs as its Kingsville Dome and Vasquez Projects. As the carrying values related to these projects had previously been written down to nil, these amounts were considered an impairment charge during the year. The remaining impairment charge of $80 was related to the physical deterioration of its Kingsville Dome plant equipment.

Mineral Property Expenses

During the years ending December 31, 2014 and 2013, the Company’s mineral property expenses were $3,502 and $5,215, respectively. Included within mineral property costs are standby costs for our three idled South Texas ISR projects along with holding and evaluation costs for all properties. The Company spent the following amounts for each of its material properties:

	For the years ended December 31,
	2014		2013
Kingsville Dome Project	$	862	$	2,378
Rosita Project		817		508
Vasquez Project		518		120
Alta Mesa Este Exploration Project		11		-
Butler Ranch Exploration Project		32		-
Sejita Dome Exploration Project		-		-
Crownpoint Project		5		268
Churchrock Project		109		250
Cebolleta Property		571		585
Juan Tafoya Property		413		474
Roca Honda Project		80		75
Nose Rock Project		-		-
West Largo Project		12		22
Other		72		535
Total expense for the period	$	3,502	$	5,215

Uranium Properties

Kingsville Dome Project

The Kingsville Dome project consists of mineral leases from private landowners on about 2,434 gross and 2,227 net acres located in central Kleberg County, Texas. The leases provide for royalties based upon a percentage of uranium sales of 6.25% to 9.375%. The leases have expiration dates ranging from 2000 to 2007 however, we hold most of these leases by production and with a few minor exceptions all the leases contain clauses that permit us to extend the leases not held by production by payment of an annual per acre royalty ranging from $10 to $30. We have paid such royalties on all material acreage.

Rosita Project and Rosita South Property

The Rosita project consists of mineral leases from private landowners on about 3,377 gross and net acres located in north-central Duval County, Texas. The Rosita South property consists of mineral leases from private land owners on about 1,795 gross acres and 1,479 net acres located in Duval County near the Company’s Rosita project. The leases provide for sliding scale royalties based on a percentage of uranium sales. Royalty percentages on average increase from 6.25% up to 18.25% when uranium prices reach $80.00 per pound. The leases have expiration dates extending out to 2015. We are holding these leases by payment of rentals ranging from $10 to $30 per acre.

Vasquez Project

The Vasquez project is comprised of a mineral lease on 872 gross and net acres located in southwestern Duval County, in South Texas. The primary term expired in February 2008; however we hold the lease by production and reclamation activities. The lease provides for royalties based upon 6.25% of uranium sales below $25.00 per pound and royalty rate increases on a sliding scale up to 10.25% for uranium sales occurring at or above $40.00 per pound.

Alta Mesa Este Exploration Project

As discussed above, the Alta Mesa Este exploration project was acquired as part of the Company’s Asset Exchange Agreement. Our property holdings in the project area include six leases covering approximately 2,916 gross, or 2,841 net acres of mineral rights. The leases are held through the payment of annual rental fees, which range from $20 to $50 per acre. Any production derived from the properties would be subject to the payment of production royalties of 10% of the gross sales. All of our leases are within a single contiguous block of land.

Butler Ranch Exploration Project

As discussed above, the Butler Ranch exploration project was acquired as part of the Company’s Asset Exchange Agreement. The property is comprised of nine fee leases that cover an area of about 2,653 gross or 2,592 net acres of mineral rights. We can hold the leases by payment of annual rental fees, ranging from $10 to $25 per acre. Each of the leases makes provision for the payment of royalties of 10% of sales to the property owners. Leases have initial terms of 8 to 10 years and have provisions to “hold by drilling” and identifying uranium mineralization on the specific properties.

Sejita Dome Exploration Project

As discussed above, the Sejita Dome exploration project was acquired as part of the Company’s Asset Exchange Agreement. The project area is comprised of fifteen partly contiguous fee (private) mineral leases covering an area of 3,263 gross or 2,176 net acres. The leases are held through the payment of annual rental fees ranging from $10 to $75 per acre. Uranium production from the leased lands is subject to the payment of fixed-rate or sliding scale royalties that range from 4.5% to 20% of sales price.

Churchrock Project

The Churchrock project encompasses about 3,458 gross and net acres. The properties that comprise the Churchrock project are located in McKinley County, New Mexico and consist of three parcels, known as Section 8, Section 17 and Mancos. None of these parcels lies within the area generally recognized as constituting the Navajo Reservation. We own the mineral estate in fee for both Section 17 and the Mancos properties. We own patented and unpatented lode mining claims on Section 8.

The surface estate on Section 17, Mancos Section 13 and Mancos Section 7 is owned by the U.S. Government and held in trust for the Navajo Nation (the “Nation”). On those sections we have royalty obligations ranging from 5% to 6¹/₄% and a 2% overriding royalty obligation to the Nation for surface use agreements. The total royalties on Section 8 depend on the sales’ price of uranium. Aggregate royalties are potentially as much as 33% at the current price of uranium.

Crownpoint Project

The Crownpoint project is located in the San Juan Basin, 22 miles northeast of the Company’s Churchrock deposits and 35 miles northeast of Gallup, New Mexico, adjacent to the town of Crownpoint. The Crownpoint project consists of 640 gross and 556 net acres. The Company holds the mineral rights in the northwest ¹/₄ of Section 9, Township 17 North Range 13 West with 9 unpatented lode mining claims, and the mineral rights in the southwest ¹/₄ of Section 24, Township 17 North Range 13 West with 10 unpatented lode mining claims. In the southeast ¹/₄ of Section 24, Township 17 North, Range 13 West, the Company owns in fee a 40% interest in the minerals on approximately 140 acres and hold 100% of the minerals on 20 additional acres with two unpatented lode mining claims. In the northeast ¹/₄ of Section 25, Township 17 North, Range 13 West, the Company holds the minerals with eight unpatented lode mining claims. The unpatented lode mining claims are held through the payment of an annual maintenance fee of $155.00 per claim to the BLM. While the rights to the minerals on the unpatented lode mining claims are subject to annual renewal through the payment of the annual maintenance fees, the rights to the minerals on the fee-owned lands are not subject to any renewal process as long as the Company maintains its ownership of the subject property.

Cebolleta Project

In connection with the merger of Neutron we acquired the Cebolleta Lease with La Merced del Pueblo de Cebolleta (the “Cebolleta Land Grant”), a privately held land grant, to lease the Cebolleta Project, which is composed of approximately 6,717 acres of fee (deeded) surface and mineral rights. The Cebolleta Lease provides for: (i) a term of ten years and so long thereafter as Cibola is conducting operations on the Cebolleta Project; (ii) initial payments to the Cebolleta Land Grant of $5,000; (iii) a recoverable reserve payment equal to $1.00 multiplied by the number of pounds of recoverable uranium reserves upon completion of a feasibility study to be completed within six years, less (a) the $5,000 referred to in (ii) above, and (b) not more than $1,500 in annual advance royalties previously paid pursuant to (iv); (iv) annual advanced royalty payments of $500; (v) gross proceeds royalties from 4.50% to 8.00% based on the then current price of uranium; (vi) employment opportunities and job-skills training for the members of the Cebolleta Land Grant and (vii) funding of annual higher education scholarships for the members of the Cebolleta Land Grant. The Cebolleta Lease provides Cibola with the right to explore for, mine, and process uranium deposits present on the Cebolleta Project. In February 2012, Cibola entered into an Amendment of its Mining Lease Agreement (the “Cebolleta Lease Amendment”) amending the Cebolleta Lease, subject to approval of the Thirteenth Judicial District. Pursuant to the Cebolleta Lease Amendment, the date for the completion of the feasibility study was extended from April 2013 to April 2015. In addition, the date may be further extended subject to a reduction in the $6,500 initial payment and annual advance royalty payments deduction to the recoverable reserve payment.

Juan Tafoya Project

In connection with the merger with Neutron we acquired the fee interest in 4,097 acres in northwestern New Mexico of fee (deeded) surface and mineral rights owned by the Juan Tafoya Land Corporation (“JTLC”). The Juan Tafoya Project is located approximately 45 miles west-northwest of the city of Albuquerque, and 25 miles northeast of the town of Laguna. The lease has a term of ten years, and it can be extended on a year-to-year basis thereafter, so long as we are conducting operations on the property. Additionally, the lease required: (i) an initial payment of $1,250; (ii) annual rental payments of $225 for the first five years of the lease and $337.5 for the second five years; (iii) after the second five years, annual base rent of $75 per acre; (iv) a gross proceeds royalty of 4.65% to 6.5% based on the then current price of uranium; (v) employment opportunities and job-skills training programs for shareholders of the JTLC or its heirs, (vi) periodic contributions to a community projects fund if mineral production commences from the Juan Tafoya property and (vii) funding of a scholarship program for the shareholders of the JTLC or its heirs. The Company is obligated to make the first ten years’ annual rental payments notwithstanding the right to terminate the JT Lease at any time, unless (a) the market value of uranium drops below $25 per pound, (b) a government authority bans uranium mining on the Juan Tafoya property, or (c) the deposit is deemed uneconomical by an independent engineering firm.

Roca Honda Project

The Roca Honda Project lies about four miles northwest of the village of San Mateo in McKinley County, New Mexico. The Company owns 36 unpatented lode mining claims situated in Section 8, Township 13 North, Range 8 West, McKinley County, New Mexico, leases 31 unpatented claims in Section 11, and owns fee mineral rights covering Section 17, all of which are in Township 13 North, Range 8 West. Collectively, the Company’s mineral rights holdings in the Roca Honda project area are approximately 3,688 acres.

Nose Rock Project

The Nose Rock Project is located in west-central New Mexico, about 45 miles northeast of Gallup, New Mexico. The Nose Rock Project consists of mineral rights covering approximately 6,400 acres. The Company’s mineral rights are directly owned and are situated in sections 10, 11, 15, 17, 18, 19, 20, 29, 30, and 31, Township 19 North, Range 11 West, McKinley County, New Mexico. The surface estate over the Company’s deeded mineral rights is owned in fee by the Navajo Nation. There are no royalties or interests held by others relating to the Company’s mineral rights.

West Largo Project

The West Largo Project lands are comprised of 75 unpatented lode mining claims that were staked in Sections 20 and 28, and four sections of fee mineral rights in Sections 17, 19, 21 and 29, all situated in Township 15 North, Range 10 West. Collectively, the properties cover an area of approximately 3,840 acres. The Company has a 100% interest in these properties. The surface estates for Sections 17 and 21 are Navajo allotments. The surface over the unpatented lode mining claims in Sections 20 and 28 is public domain managed by the BLM. The surface for Section 19 is held in trust for the Navajo Nation, and the surface of Section 29 is owned by the Elkins Ranch. We do not hold any surface access rights or agreements for Sections 17, 19 or 21. There are no work or royalty obligations for the unpatented lode mining claims, which we own. The unpatented claims are subject to annual maintenance payments of $155 per claim to the BLM in order to maintain the mineral rights in good standing. A production royalty of 2.5 percent of “ore value” is payable to the Elkins Ranch for any production from Section 29.

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Property, Plant and Equipment (Tables)

12 Months Ended

Dec. 31, 2014

Property, Plant and Equipment [Abstract]

Schedule of Property, Plant and Equipment

	December 31, 2014		December 31, 2013
	Net book value		Net book value
Uranium plant	$	8,921	$	9,190
Mineral rights and properties		22,063		19,750
Vehicles		264		568
Other property, plant and equipment		1,482		1,333
Total	$	32,730	$	30,841

Summary of impairment expense by project

The Company recorded the following impairment charges for 2014 and 2013 related to its uranium projects and processing facilities:

	For the years ended December 31,
	2014		2013
Kingsville Dome Project	$	160	$	474
Rosita Project		-		2,821
Vas quez Project		-		276
Ambrosia Lake Project		-		512
Other		-		12
Total Impairment	$	160	$	4,095

Schedule of Mineral Property Expenditures

The Company spent the following amounts for each of its material properties:

	For the years ended December 31,
	2014		2013
Kingsville Dome Project	$	862	$	2,378
Rosita Project		817		508
Vasquez Project		518		120
Alta Mesa Este Exploration Project		11		-
Butler Ranch Exploration Project		32		-
Sejita Dome Exploration Project		-		-
Crownpoint Project		5		268
Churchrock Project		109		250
Cebolleta Property		571		585
Juan Tafoya Property		413		474
Roca Honda Project		80		75
Nose Rock Project		-		-
West Largo Project		12		22
Other		72		535
Total expense for the period	$	3,502	$	5,215

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Commitments and Contingencies

12 Months Ended

Dec. 31, 2014

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

13. COMMITMENTS AND CONTINGENCIES

Environmental Considerations

The Company’s uranium recovery operations are subject to federal and state regulations for the protection of the environment, including water quality. These laws are constantly changing and generally becoming more restrictive. The ongoing costs of complying with such regulations have not been significant to the Company’s annual operating costs. Future closure and reclamation costs are provided for as each pound of uranium is produced on a unit-of-production basis. The Company reviews its reclamation obligations each year and determines the appropriate unit charge. The Company also evaluates the status of current environmental laws and their potential impact on their accrual for costs. The Company believes its operations are in compliance with current environmental regulations.

Sales Contracts

In March 2006, the Company first amended its sales contracts with Itochu Corporation (“Itochu”) and UG U.S.A., Inc. (“UG”) that superseded the previously existing contracts. Each contract provides for delivery of one- half of our actual production from our properties in Texas currently owned or hereafter acquired by the Company (excluding certain large potential exploration plays). Uranium deliveries from the inception of the contracts through December 31, 2014 have totaled approximately 510,000 pounds to Itochu and 480,000 pounds to UG.

In July 2013, the Company amended its uranium supply contract with Itochu to include a new sales pricing structure, new delivery dates and quantity levels. Pursuant to the amended agreement, Itochu would purchase one-half of all production from the Company’s Vasquez, Rosita or Kingsville properties up to three million pounds of U3O8. Any new production outside of those areas is not subject to the agreement. The purchase price will be based on published market prices at the time of delivery subject to a five percent discount when the market price is $56.50 per pound of U3O8 or less, or seven percent when greater than $56.50 per pound.

Under the UG contract all production from our Texas properties will be sold at a price equal to the month-end long-term contract price for the second month prior to the month of delivery less $6 per pound until (i) 600,000 pounds have been sold in a particular delivery year and (ii) an aggregate of 3 million pounds of uranium has been sold. After the 600,000 pounds in any year and 3 million pounds total have been sold, UG will have a right of first refusal to purchase other Texas production at a price equal to the average spot price for a period prior to the date of delivery less 4%.

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Other Long-Term Liabilities and Deferred Credits

12 Months Ended

Dec. 31, 2014

Other Liabilities Disclosure [Abstract]

Other Long-Term Liabilities and Deferred Credits

9. OTHER LONG-TERM LIABILITIES AND DEFERRED CREDITS

Other long-term liabilities and deferred credits on the balance sheet consisted of:

	December 31,
	2014		2013
Royalties payable(1)	$	500	$	500
Crownpoint property(1)		450		450
GE purchase contract(2)		—		400
	$	950	$	1,350

(1)	Royalties payable and Crownpoint property liability were derived during prior years of production. Liabilities do not accrue interest or have a stated maturity date.
(2)	Balance is due on August 1, 2015 and has been reclassified to short-term accrued liabilities as of December 31, 2014.

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Derivative Liability

12 Months Ended

Dec. 31, 2014

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative Liability

7. DERIVATIVE LIABILITY

The conversion feature of the Loan Agreement was initially determined to be an embedded derivative under ASC 815 as the exercise price was subject to downward adjustment as discussed in Note 6 above and, therefore, did not meet the “fixed-for-fixed” criteria. As a result, the conversion feature of the convertible Loan Agreement was initially bifurcated and classified as a derivative liability which was recorded at an initial fair value and subsequently marked-to-market each period with the changes in fair value reported in the Company’s results of operations. The initial fair value measurement of the derivative liability as determined on the date of each advance has been recognized as a debt discount and is amortized over the life of the Loan Agreement.

As discussed in Note 6 above, the downward adjustment of the exercise price expired on November 13, 2014 and the exercise price remains fixed at $2.60 for the remainder of the term of the Loan Agreement. As a result, the conversion feature no longer qualifies as an embedded derivative instrument and the fair value of the derivative as of November 13, 2014 was reclassified to equity and will no longer require further mark-to-market adjustments.

The fair value of the derivative liability as of November 13, 2014 has been calculated using the Black-Scholes option pricing model with the following assumptions:

Risk-free interest rate	0.53%
Expected life of derivative liability	2.13 years
Expected volatility	85.76%
Dividend rate	N/A

The change in the derivative liability related to the conversion feature is as follows:

	December 31,
	2014			2013
Fair value of derivative liability at beginning of period	$	2,169		$	-
Fair value of $2,000 drawdown		1,556			-
Fair value of $3,000 drawdown		1,691			2,061
Change in fair value of derivative liability		(2,919	)		108
Reclassification to equity		(2,497	)		-
Fair value of derivative liability at end of period		-		$	2,169

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Asset Retirement Obligation

12 Months Ended

Dec. 31, 2014

Asset Retirement Obligation Disclosure [Abstract]

Asset Retirement Obligation

8. ASSET RETIREMENT OBLIGATION

The Company’s mining and exploration activities are subject to various state and federal law and regulations governing the protection of the environment. The Company conducts its operations to protect public health and the environment and believes its operations are in compliance with the applicable laws and regulations in all material respects. The Company has made, and expects to make in the future, expenditures to comply with such laws and regulations, but cannot predict the full amount of such future expenditures. Estimated future restoration and reclamation costs are based principally on legal and regulatory requirements.

Changes to the Company’s asset retirement obligation are summarized below:

	December 31,
	2014			2013
Balance, beginning  of period	$	3,834		$	4,498
Additions, changes in estimates and other		136			584
Liabilities settled		(199	)		(1,638	)
Accretion expense		425			390
Balance, end of period		4,196			3,834
Less: Current portion		(196	)		-
Non-current Portion	$	4,000		$	3,834

Additions and changes in estimates during the year ended December 31, 2014 were primarily related to changes in estimated timing of when the restoration and reclamation activities will occur along with changes in the costs estimated for plugging and abandonment activities at our South Texas ISR projects. As of December 31, 2014, the Company’s ARO was fully secured by surety bonds totaling $9,169, which were partially collateralized with restricted cash totaling $3,941.

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Shareholders' Equity

12 Months Ended

Dec. 31, 2014

Equity [Abstract]

Shareholders' Equity

10. STOCKHOLDERS’ EQUITY

Common Stock Issued, Net of Issuance Costs

Registered Direct Offering

On February 12, 2014, the Company completed a registered direct offering with the issuance of 3,960,000 shares of common stock at a price of $2.60 per share for net proceeds of $9,307.

At-The-Market Sales

On October 31, 2011, the Company entered into an At-The-Market Sales Agreement with BTIG LLC (the “ATM Sales Agreement”), a major global securities trading firm that acts as our sales agent. Under the ATM Sales Agreement, the Company may from time to time sell shares of its common stock having an aggregate offering price up to $15,000 in “at-the-market” offerings, which shares are registered under the Company’s currently effective registration statement on Form S-3. The Company filed a prospectus supplement dated July 2, 2014 with the Securities and Exchange Commission in connection with the offering, relating to shares of its common stock having an aggregate offering price of up to $4,100. The Company pays BTIG a commission equal to 3.0% of the gross proceeds from the sale of any shares pursuant to the ATM Sales Agreement.

During the year ended December 31, 2014 the Company sold 794,586 shares of common stock for net proceeds of approximately $2,600 under the ATM Sales Agreement. As of March 19, 2015 approximately $6,000 of the aggregate $15,000 remained available for future sales under the ATM Sales Agreement.

Shareholder Rights Offering

In March 2013, the Company completed a Shareholder Rights Offering, whereby each stockholder and warrant holder received one non-transferrable subscription right for each share of common stock owned or subject to a warrant as of 5:00pm ET on January 28, 2013. Each subscription right entitled the holder to purchase 0.3119 of a share of common stock of the Company at a price of $2.55 per whole share.

Under the Shareholder Rights Offering, the Company raised $8,900 in gross proceeds, of which $5,000 was used to repay an outstanding short-term bridge loan payable to RCF. Also in connection with the short-term bridge loan, the Company issued 31,343 shares of common stock in 2013 for the payment of interest in the amount of $96 related to the six months ended March 31, 2013.

Common Stock Issued for Loan Interest and Fees

As discussed in Note 6 above, unless RCF elects to receive cash, RCF receives common shares of the Company for the payment of interest owing on the Loan Agreement. For the year ended December 31, 2014, the Company issued 325,853 shares of common stock for the payment of $840 in interest and fees. Subsequent to December 31, 2014, the Company issued 102,912 shares of common stock for the payment of $198 in interest relating to the three months ended December 31, 2014.

Common Stock Issued for Settlement of Litigation

On April 15, 2014, the Company and a former executive of the Company, entered into a Settlement Agreement and General Release, under the terms of which it was agreed by the Company’s former executive to dismiss with prejudice claims he brought in a lawsuit against the Company. As a result of this Settlement Agreement, the Company issued common shares to the Company’s former executive with a grant date fair value of $334. The issuance of 119,231 shares of common stock was based upon a common share price of $2.80.

Common Stock Issued for Settlement of Land Obligations

On August 8, 2014, the Company issued 127,359 shares of common stock with a grant date fair value of $342 to the Juan Tafoya Land Corporation in satisfaction of $338 of base rental payments due under the Uranium Mining Lease and Agreement, dated October 12, 2006, by and between Neutron Energy, Inc., a wholly owned subsidiary of the Company, and the Juan Tafoya Land Corporation, as amended by the First Amendment thereto, dated August 8, 2014, by and among the Company, Neutron Energy, Inc. and the Juan Tafoya Land Corporation.

On October 3, 2014, the Company entered into a Second Amendment to the Uranium Mining Lease and Agreement whereby, on October 6, 2014, the Company repurchased 91,631 shares of common stock from the Juan Tafoya Land Corporation for an aggregate purchase price of $249.

Common Stock Issued for Services

In January 2013, the Company issued 83,200 shares valued at $3.50 per share based on the market trading price to Cormark Securities, Inc. in satisfaction of $291 in fees related to the Neutron Energy, Inc. merger.

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Property, Plant and Equipment (Details Narrative) (USD $)
In Thousands, except Per Share data, unless otherwise specified

12 Months Ended

0 Months Ended

Dec. 31, 2014

Dec. 31, 2013

Sep. 05, 2014

Trench

Property, Plant and Equipment [Line Items]

Impairment charge on uranium plant equipment

$ 160

$ 4,095

Net carrying value of plant equipment after impairment

32,730

30,841

Plant equipment book value

98,454

96,407

Mineral property expenses

3,502

5,215

Kingsville Dome [Member]

Property, Plant and Equipment [Line Items]

Net carrying value of plant equipment after impairment

461

Plant equipment book value

2,461

Liability related to dismantling and decontaminating

2,000

Book value exceeds net realizable sales value

461

Capitalized asset retirement obligation costs

684

Gross area on mineral leases

2,434

Net area on mineral leases

2,227

Lease expiration date description

ranging from 2000 to 2007.

Remaining asset impairement charges

80

Kingsville Dome [Member] | Minimum [Member]

Property, Plant and Equipment [Line Items]

Percentage of royalties on lease of sales

6.25%

Annual per acre royalty payable

$ 10

Kingsville Dome [Member] | Maximum [Member]

Property, Plant and Equipment [Line Items]

Percentage of royalties on lease of sales

9.375%

Annual per acre royalty payable

$ 30

Rosita Project [Member]

Property, Plant and Equipment [Line Items]

Impairment charge on uranium plant equipment

2,821

Declining in uranium market price write down

3,331

Mineral property expenses

817

508

Gross area on mineral leases

3,377

Net area on mineral leases

3,377

Ambrosia Lake Project [Member]

Property, Plant and Equipment [Line Items]

Impairment charge on uranium plant equipment

512

Declining in uranium market price write down

0

Rosita South Property [Member]

Property, Plant and Equipment [Line Items]

Gross area on mineral leases

1,795

Net area on mineral leases

1,479

Rosita Project and Rosita South Property [Member]

Property, Plant and Equipment [Line Items]

Lease expiration date description

extending out to 2015

Rosita Project and Rosita South Property [Member] | Minimum [Member]

Property, Plant and Equipment [Line Items]

Percentage of royalties on lease of sales

6.25%

Annual per acre royalty payable

$ 10

Rosita Project and Rosita South Property [Member] | Maximum [Member]

Property, Plant and Equipment [Line Items]

Percentage of royalties on lease of sales

18.25%

Annual per acre royalty payable

$ 30

Mineral sales price per pound

$ 80.00

Vasquez Project [Member]

Property, Plant and Equipment [Line Items]

Impairment charge on uranium plant equipment

276

Mineral property expenses

518

120

Capitalized asset retirement obligation costs

684

Gross area on mineral leases

872

Net area on mineral leases

872

Lease expiration date description

expired in February 2008

Vasquez Project [Member] | Minimum [Member]

Property, Plant and Equipment [Line Items]

Percentage of royalties on lease of sales

6.25%

Mineral sales price per pound

$ 25.00

Vasquez Project [Member] | Maximum [Member]

Property, Plant and Equipment [Line Items]

Percentage of royalties on lease of sales

10.25%

Mineral sales price per pound

$ 40.00

Alta Mesa Este Exploration Project [Member]

Property, Plant and Equipment [Line Items]

Mineral property expenses

11

Percentage of royalties on lease of sales

10.00%

Number of area cover under leases fee

6

Gross area on mineral rights

2,916

Net area on mineral rights

2,841

Alta Mesa Este Exploration Project [Member] | Minimum [Member]

Property, Plant and Equipment [Line Items]

Annual per acre royalty payable

$ 20

Alta Mesa Este Exploration Project [Member] | Maximum [Member]

Property, Plant and Equipment [Line Items]

Annual per acre royalty payable

$ 50

Butler Ranch Exploration Project [Member]

Property, Plant and Equipment [Line Items]

Mineral property expenses

32

Gross area on mineral leases

2,653

Net area on mineral leases

2,592

Percentage of royalties on lease of sales

10.00%

Number of area cover under leases fee

9

Butler Ranch Exploration Project [Member] | Minimum [Member]

Property, Plant and Equipment [Line Items]

Annual per acre royalty payable

$ 10

Lease term

8 years

Butler Ranch Exploration Project [Member] | Maximum [Member]

Property, Plant and Equipment [Line Items]

Annual per acre royalty payable

$ 25

Lease term

10 years

Sejita Dome Exploration Project [Member]

Property, Plant and Equipment [Line Items]

Mineral property expenses

Gross area on mineral leases

3,263

Net area on mineral leases

2,176

Number of area cover under leases fee

15

Sejita Dome Exploration Project [Member] | Minimum [Member]

Property, Plant and Equipment [Line Items]

Percentage of royalties on lease of sales

4.50%

Annual per acre royalty payable

$ 10

Sejita Dome Exploration Project [Member] | Maximum [Member]

Property, Plant and Equipment [Line Items]

Percentage of royalties on lease of sales

20.00%

Annual per acre royalty payable

$ 75

Churchrock [Member]

Property, Plant and Equipment [Line Items]

Gross area on mineral leases

3,458

Net area on mineral leases

3,458

Churchrock [Member] | Section 17 and Mancos [Member]

Property, Plant and Equipment [Line Items]

Percentage of royalties on lease of sales

33.00%

Percentage of overriding royalty obligation

2.00%

Churchrock [Member] | Minimum [Member] | Section 17 and Mancos [Member]

Property, Plant and Equipment [Line Items]

Percentage of royalties on lease of sales

5.00%

Churchrock [Member] | Maximum [Member] | Section 17 and Mancos [Member]

Property, Plant and Equipment [Line Items]

Percentage of royalties on lease of sales

6.25%

Churchrock Project [Member]

Property, Plant and Equipment [Line Items]

Mineral property expenses

109

250

Number of parcels

3

Crownpoint [Member]

Property, Plant and Equipment [Line Items]

Gross area on mineral leases

640

Net area on mineral leases

556

Annual maintenance fee per claim

$ 155

Crownpoint [Member] | Churchrock Deposits [Member]

Property, Plant and Equipment [Line Items]

Distance of property from a specified location

22

Crownpoint [Member] | Section 9 Northwest [Member]

Property, Plant and Equipment [Line Items]

Percentage of section the Company holds mineral rights

0.25%

Number of unpatented lode mining claims

9

Crownpoint [Member] | Section 24 Southwest [Member]

Property, Plant and Equipment [Line Items]

Percentage of section the Company holds mineral rights

0.25%

Number of unpatented lode mining claims

10

Crownpoint [Member] | Section 25 North East [Member]

Property, Plant and Equipment [Line Items]

Percentage of section the Company holds mineral rights

0.25%

Number of unpatented lode mining claims

8

Crownpoint [Member] | Section 24 Southeast [Member]

Property, Plant and Equipment [Line Items]

Percentage of section the Company holds mineral rights

0.25%

Number of unpatented lode mining claims

2

Percentage of interest earned in project

40.00%

Area of land in mineral fee interest acquired

140

Percentage of mineral fee interest Company owns on additional acres

100.00%

Additional area of land in fee interest acquired

20

Cebolleta Property [Member]

Property, Plant and Equipment [Line Items]

Mineral property expenses

571

585

Cebolleta Property [Member] | Neutron Energy Inc [Member]

Property, Plant and Equipment [Line Items]

Lease term

10 years

Area covered under lease

6,717

Initial payments per lease agreement

5,000

Amount used in the calculation of recoverable reserve payment per unit

1.00

Annual advance royalties previously paid

6,500

Royality payable

500

Cebolleta Property [Member] | Minimum [Member] | Neutron Energy Inc [Member]

Property, Plant and Equipment [Line Items]

Percentage of royalties on lease of sales

4.50%

Cebolleta Property [Member] | Maximum [Member] | Neutron Energy Inc [Member]

Property, Plant and Equipment [Line Items]

Percentage of royalties on lease of sales

8.00%

Feasibility study term

6 years

Annual advance royalties previously paid

1,500

Amount of deduction to recoverable reserve payment

5,000

Juan Tafoya Property [Member]

Property, Plant and Equipment [Line Items]

Mineral property expenses

413

474

Lease term

10 years

Area of land in mineral fee interest acquired

4,097

Initial payments per lease agreement

1,250

Annual base rent per acre

$ 75

Reduction of market value per pound

$ 25

Juan Tafoya Property [Member] | First Five Year [Member]

Property, Plant and Equipment [Line Items]

Annual rental payments

225

Juan Tafoya Property [Member] | Second Five Year [Member]

Property, Plant and Equipment [Line Items]

Annual rental payments

338

Juan Tafoya Property [Member] | Minimum [Member]

Property, Plant and Equipment [Line Items]

Percentage of royalties on lease of sales

4.65%

Juan Tafoya Property [Member] | Maximum [Member]

Property, Plant and Equipment [Line Items]

Percentage of royalties on lease of sales

6.50%

Roca Honda Project [Member]

Property, Plant and Equipment [Line Items]

Mineral property expenses

80

75

Area covered under lease

3,688

Roca Honda Project [Member] | Section 8 [Member]

Property, Plant and Equipment [Line Items]

Number of unpatented lode mining claims

36

Roca Honda Project [Member] | Section 11 [Member]

Property, Plant and Equipment [Line Items]

Number of unpatented lode mining claims

31

Nose Rock Project [Member]

Property, Plant and Equipment [Line Items]

Mineral property expenses

Area covered under lease

6,400

Percentage of Royalties on lease

0.00%

Interest earned in project in consideration of investment

0.00%

West Largo Project [Member]

Property, Plant and Equipment [Line Items]

Mineral property expenses

12

22

Percentage of interest earned in project

100.00%

Annual maintenance fee per claim

$ 155

Area covered under lease

3,840

West Largo Project [Member] | Sections 20 and 28 [Member]

Property, Plant and Equipment [Line Items]

Number of unpatented lode mining claims

75

West Largo Project [Member] | Section 29 [Member] | Elkins Ranch [Member]

Property, Plant and Equipment [Line Items]

Percentage of royalties on lease of sales

2.50%

Gallup [Member] | Crownpoint [Member]

Property, Plant and Equipment [Line Items]

Distance of property from a specified location

35

Gallup [Member] | Nose Rock Project [Member]

Property, Plant and Equipment [Line Items]

Distance of property from a specified location

45

Albuquerque [Member] | Juan Tafoya Property [Member]

Property, Plant and Equipment [Line Items]

Distance of property from a specified location

45

Laguna [Member] | Juan Tafoya Property [Member]

Property, Plant and Equipment [Line Items]

Distance of property from a specified location

25

San Mateo [Member] | Roca Honda Project [Member]

Property, Plant and Equipment [Line Items]

Distance of property from a specified location

4

Asset Exchange Agreement with Rio Grande Resources Corporation [Member] | Roca Honda [Member]

Property, Plant and Equipment [Line Items]

Fair value of the assets

2,313

Gain on exchange of assets

$ 2,313

Unproved uranium assets duration period

3 years

Number of parcels

2

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Stock Based Compensation - Summary of Stock Options Outstanding (Details) (USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Number of stock options outanding, Beginning of period	309,479	317,270
Number of stock options outanding, Granted		65,000
Number of stock options outanding, Exercised
Number of stock options outanding, Expired	(134,731)
Number of stock options outanding, Canceled or forfeited	(14,000)	(72,791)
Number of stock options outanding, End of period	160,748	309,479
Number of stock options outanding, Exercisable	115,333	226,980
Weighted average exercise price, Beginning of period	$ 19.75	$ 24.62
Weighted average exercise price, Granted		$ 2.86
Weighted average exercise price, Exercised
Weighted average exercise price, Expired	$ 12.07
Weighted average exercise price, Canceled or forfeited	$ 31.31	$ 25.90
Weighted average exercise price, End of period	$ 25.18	$ 19.75
Weighted average exercise price, Exercisable	$ 33.81	$ 25.57

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Summary of Significant Accounting Policies (Policies)

12 Months Ended

Dec. 31, 2014

Accounting Policies [Abstract]

Use of Estimates

Use of Estimates

The preparation of financial statements in conformity with generally accepted accounting principles in the U.S. (“US GAAP”) requires management to make certain estimates and assumptions. Such estimates and assumptions affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. The most significant estimates included in the preparation of the financial statements are related to asset retirement obligations; stock-based compensation; derivative liabilities and asset impairment, including estimates used to derive future cash flows or market value associated with those assets.

Cash and Cash Equivalents

Cash and Cash Equivalents

The Company considers all highly liquid investments with a maturity of three months or less when purchased to be cash equivalents. The Company maintains cash deposits in excess of federally insured limits. The Company monitors the soundness of the financial institution and believes the Company’s risk is negligible.

Property, Plant and Equipment

Property, Plant and Equipment

Facilities and Equipment

Expenditures for new facilities or equipment and expenditures that extend the useful lives of existing facilities or equipment are capitalized and recorded at cost. The facilities and equipment are amortized using the units of production method. During the periods that our facilities are not in production, depreciation of our facilities and equipment is suspended as the assets are not in service.

Uranium Properties

Mineral rights acquisition costs are capitalized when incurred, and exploration costs are expensed as incurred. When we determine that a mineral right can be economically developed in accordance with U.S. GAAP, the costs then incurred to develop such property will be capitalized. During the periods that our facilities are not in production, depletion of our mineral interests, permits, licenses and development properties is suspended as the assets are not in service. If mineral properties are subsequently abandoned or impaired, any undepleted costs will be charged to loss in that period.

Other Property, Plant and Equipment

Other property, plant and equipment consists of corporate office equipment, furniture and fixtures and transportation equipment. Depreciation on other property is computed based upon the estimated useful lives of the assets. Repairs and maintenance costs are expensed as incurred. Gain or loss on disposal of such assets is recorded as other income or expense as such assets are disposed.

Asset Impairment

Asset Impairment

The Company reviews and evaluates its long-lived assets for impairment when events or changes in circumstances indicate that the related carrying amounts may not be recoverable. Impairment is considered to exist if the total estimated future cash flows on an undiscounted basis are less than the carrying amount of the assets. An impairment loss is measured and recorded based on discounted estimated future cash flows or upon an estimate of fair value that may be received in an exchange transaction. Future cash flows are estimated based on quantities of recoverable minerals, expected uranium prices, production levels and operating costs of production and capital, based upon the projected remaining future uranium production from each project. Existing proven and probable reserves and value beyond proven and probable reserves, including mineralization that is not part of the measured, indicated or inferred resource base, are included when determining the fair value of mine site reporting units at acquisition and, subsequently, in determining whether the assets are impaired. The term “recoverable minerals” refers to the estimated amount of uranium that will be obtained after taking into account losses during processing and treatment. In estimating future cash flows, assets are grouped at the lowest level for which there are identifiable cash flows that are largely independent of future cash flows from other asset groups. The Company’s estimates of future cash flows are based on numerous assumptions and it is possible that actual future cash flows will be significantly different than the estimates, as actual future quantities of recoverable minerals, uranium prices, production levels and operating costs of production and capital are each subject to significant risks and uncertainties.

Restricted Cash

Restricted Cash

At December 31, 2014 and 2013, the Company had pledged certificates of deposit and money market accounts of $3,941 and $4,011, respectively, in order to collateralize performance bonds required for future restoration and reclamation obligations related to the Company’s South Texas production and development properties. These funds are not readily available to the Company and are not included in cash equivalents.

Asset Retirement Obligations

Asset Retirement Obligations

Various federal and state mining laws and regulations require the Company to reclaim the surface areas and restore underground water quality for its ISR projects to the pre-existing or background average quality after the completion of mining. Asset retirement obligations, consisting primarily of estimated restoration and reclamation costs at the Company’s South Texas ISR projects, are recognized in the period incurred and recorded as liabilities at fair value. Such obligations, which are initially estimated based on discounted cash flow estimates, are accreted to full value over time through charges to accretion expense. In addition, the asset retirement cost is capitalized as part of the asset’s carrying value and amortized over the life of the related asset. If the Company does not have a recorded value for the related asset, then the asset retirement cost is expensed as incurred. Asset retirement obligations are periodically adjusted to reflect changes in the estimated present value resulting from revisions to the estimated timing or amount of restoration and reclamation costs. As the Company completes its restoration and reclamation work at its properties, the liability is reduced by the carrying value of the related asset retirement liability which is based upon the percentage of completion of each restoration and reclamation activity. Any gain or loss upon settlement is charged to income or expense and is included as part of the Company’s mineral property expense for the period. The Company reviews and evaluates its asset retirement obligations annually or more frequently at interim periods if deemed necessary.

Fair Value of Financial Instruments

Fair Value of Financial Instruments

Our financial instruments consist of cash equivalents, restricted cash and derivative liabilities. U.S. GAAP defines “fair value” as the price that would be received to sell an asset or be paid to transfer a liability in an orderly transaction between market participants at the measurement date (exit price) and establishes a fair-value hierarchy that prioritizes the inputs used to measure fair value using the following definitions (from highest to lowest priority):

● Level 1 — Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities.

● Level 2 — Observable inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly, including quoted prices for similar assets and liabilities in active markets; quoted prices for identical or similar assets and liabilities in markets that are not active; or other inputs that are observable or can be corroborated by observable market data by correlation or other means.

● Level 3 — Prices or valuation techniques requiring inputs that are both significant to the fair-value measurement and unobservable.

The Company considers all highly liquid instruments purchased with an original maturity of three months or less to be cash equivalents. The Company continually monitors its positions with, and the credit quality of, the financial institutions with which it invests. Periodically throughout the year, the Company has maintained balances in various U.S. operating accounts in excess of U.S. federally insured limits.

The following table presents information about financial instruments recognized at fair value on a recurring basis as of December 31, 2014 and December 31, 2013, and indicates the fair value hierarchy:

	December 31, 2014
	Level 1		Level 2		Level 3		Total
Assets
Restricted cash	$	3,941	$	-	$	-	$	3,941
Total financial assets	$	3,941	$	-	$	-	$	3,941

	December 31, 2013
	Level 1		Level 2		Level 3		Total
Assets
Restricted cash	$	4,011	$	-	$	-	$	4,011
Total financial assets	$	4,011	$	-	$	-	$	4,011
Liabilities
Derivative liabilities	$	-	$	-	$	2,169	$	2,169
Total financial liabilities	$	-	$	-	$	2,169	$	2,169

Derivative Instruments

Derivative Instruments

The Company reviews the terms of its equity instruments and other financing arrangements to determine whether or not there are embedded derivative instruments that are required to be accounted for separately as a derivative financial instrument. Derivative financial instruments are measured at their fair value. For derivative financial instruments that are accounted for as liabilities, the derivative instrument is initially recorded at its fair value and is then re-valued at each reporting date, with changes in the fair value reported as charges to or credits against income. The Company uses the Black-Scholes option pricing model to estimate the fair value of the derivative instruments.

The classification of derivative instruments, including whether or not such instruments should be recorded as liabilities or as equity, is reassessed at the end of each reporting period. If reclassification is required, the fair value of the derivative instrument, as of the determination date, is reclassified. Previous charges or credits to income for changes in the fair value of the derivative instrument are not reversed. Derivative instrument liabilities are classified in the balance sheet as current or non-current based on whether net-cash settlement of the derivative instrument could be required within 12 months of the balance sheet date.

Loss Per Share

Loss Per Share

Immediately following the close of trading on January 22, 2013, the Company completed a 1 for 10 reverse stock split for its common stock. With the reverse stock split, every ten shares of the Company’s issued and outstanding common stock were combined into one issued and outstanding share of common stock. The reverse stock split had no effect on the par value of the shares or the authorized number of shares of the Company. The reverse split reduced the number of URI’s outstanding common stock from approximately 161,100,000 shares to approximately 16,100,000 shares. All share and per share data herein has been retroactively adjusted for the reverse stock split.

Basic loss per share is computed using the weighted-average number of shares outstanding during the period. Diluted loss per share is not presented as the effect on the basic loss per share would be anti-dilutive. At December 31, 2014 and 2013, we had 3,782,481 and 1,743,325 in potentially dilutive securities, respectively.

Recently Issued Accounting Pronouncements

Recently Issued Accounting Pronouncements

In August 2014, the Financial Accounting Standards Board (the “FASB”) issued Accounting Standards Update No. 2014-15 (ASU 2014-15), Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern, which provides guidance on determining when and how to disclose going-concern uncertainties in the financial statements. The new standard requires management to perform interim and annual assessments of an entity’s ability to continue as a going concern within one year of the date the financial statements are issued. An entity must provide certain disclosures if conditions or events raise substantial doubt about the entity’s ability to continue as a going concern. The ASU applies to all entities and is effective for annual periods ending after December 15, 2016, and interim periods thereafter, with early adoption permitted. We do not expect to early adopt this guidance and do not believe that the adoption of this guidance will have a material impact on our financial statements or related disclosures.

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Assets Retirement Obligations (Tables)

12 Months Ended

Dec. 31, 2014

Asset Retirement Obligation Disclosure [Abstract]

Summary of Asset Retirement Obligation

Changes to the Company’s asset retirement obligation are summarized below:

	December 31,
	2014			2013
Balance, beginning  of period	$	3,834		$	4,498
Additions, changes in estimates and other		136			584
Liabilities settled		(199	)		(1,638	)
Accretion expense		425			390
Balance, end of period		4,196			3,834
Less: Current portion		(196	)		-
Non-current Portion	$	4,000		$	3,834

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Stockholders' Equity (Details Narrative) (USD $) In Thousands, except Share data, unless otherwise specified	12 Months Ended		6 Months Ended	3 Months Ended	0 Months Ended					1 Months Ended	0 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Mar. 31, 2013	Dec. 31, 2014	Apr. 15, 2014	Oct. 06, 2014	Aug. 08, 2014	Jul. 02, 2014	Oct. 31, 2011	Jan. 31, 2013	Feb. 12, 2014
Proceeds from issuance of common stock	$ 11,880	$ 3,600
Payment of interest		11
Common stock repurchased during period, value	(249)
Rights Offering [Member]
Number of shares of common stock entitled to be purchased for each subscription right			0.3119
Exercise price per share			$ 2.55
Rights Offering [Member] | Resource Capital Fund V LP [Member]
Issuance of common stock, shares			31,343
Proceeds from short term bridge loan payable			8,900
Repayment of short term bridge loan payable			5,000
Payment of interest			96
Loan Agreement One [Member] | Resource Capital Fund V LP [Member]
Issuance of common stock, shares	325,853			102,912
Payment of interest	840			198
Settlement Agreement and General Release [Member] | Former Executive [Member]
Issuance of common stock, shares					119,231
Equity price per share					$ 2.80
Proceeds from issuance of common stock					334
Uranium Mining Lease and Agreement [Member] | Juan Tafoya Land Corporation [Member]
Issuance of common stock, shares							127,359
Proceeds from issuance of common stock							342
Payment of base rental							338
Common stock repurchased during period, shares						91,631
Common stock repurchased during period, value						249
BTIG, LLC [Member] | ATM Sales Agreement [Member]
Proceeds from offering price								4,100	15,000
Percentage of commission to be paid on gross proceeds									3.00%
Sale of common stock, shares	794,586
Proceeds from sales of common stock	2,600
BTIG, LLC [Member] | ATM Sales Agreement [Member] | March 19, 2015 [Member]
Equity securities available for sales	6,000			6,000
Proceeds from future sale of equity	15,000
Cormark Securities Inc [Member] | Neutron Energy Inc [Member]
Equity price per share										$ 3.50
Number of shares issuance for services										83,200
Business acquisition related fees										291
Registered Direct Offering [Member]
Issuance of common stock, shares											3,960,000
Equity price per share											$ 2.60
Proceeds from issuance of common stock											$ 9,307

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Derivative Liability (Details Narrative) (USD $)	12 Months Ended
	Dec. 31, 2014
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Debt exercise price expiration date	Nov. 13, 2014
Debt exercise price	$ 2.60

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Consolidated Statements of Stockholders' Equity (USD $) In Thousands, except Share data	Common Stock [Member]	Paid-In Capital [Member]	Accumulated Deficit [Member]	Treasury Stock [Member]	Total
Balance at Dec. 31, 2012	$ 16	$ 207,339	$ (171,176)	$ (9)	$ 36,170
Balance shares at Dec. 31, 2012	16,150,163
Net loss			(20,294)		(20,294)
Common stock issuance for loan principal and interest	2	5,094			5,096
Common stock issuance for loan principal and interest, shares	1,992,127
Restricted common stock issued for services
Restricted common stock issued for services, shares	46,925
Stock compensation expense		381			381
Common stock issuance	2	3,598			3,600
Common stock issuance, shares	1,547,843
Common stock issued for services		291			291
Common stock issued for services, shares	83,200
Common stock issued for loan interest and fees
Common stock issued for land obligations
Common stock issued for settlement of litigation
Balance at Dec. 31, 2013	20	216,703	(191,470)	(9)	25,244
Balance shares at Dec. 31, 2013	19,820,258
Net loss			(10,684)		(10,684)
Common stock issued, net of issuance costs	5	11,887			11,892
Common stock issued, net of issuance costs, shares	4,729,458
Common stock issued for loan interest and fees		840			840
Common stock issued for loan interest and fees, shares	325,853
Common stock issued for land obligations		342			342
Common stock issued for land obligations, shares	127,359
Common stock issued for settlement of litigation		334			334
Common stock issued for settlement of litigation, shares	119,231
Stock compensation expense and related share issuances, net of shares withheld for the payment of taxes		1,031			1,031
Stock compensation expense and related share issuances, net of shares withheld for the payment of taxes, shares	162,141
Conversion feature		2,497			2,497
Minimum withholding taxes on net share settlements of equity awards		(110)			(110)
Purchase of treasury stock				(249)	(249)
Purchase of treasury stock, shares	(91,631)
Balance at Dec. 31, 2014	$ 25	$ 233,524	$ (202,154)	$ (258)	$ 31,137
Balance shares at Dec. 31, 2014	25,192,669

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Liquidity

12 Months Ended

Dec. 31, 2014

LIQUIDITY

Liquidity

4. LIQUIDITY

At December 31, 2014, our working capital was $3,761, as compared with a working capital deficit of $1,226 as of December 31, 2013, which represents an increase of $4,987. This increase in working capital is primarily due to an increase of $4,453 in the cash balance to $5,570 as of December 31, 2014. Following the closing of the registered direct offering on March 6, 2015, the Company expects that its existing cash balances will provide it the necessary liquidity through the first quarter of 2016. The Company will continue to look for ways to reduce its monthly cash burn rate while exploring opportunities to raise additional funds, as needed.

The Company ceased uranium production activities in 2009 due to sustained low uranium prices and does not anticipate receiving significant sales revenue and related cash inflows during 2015. Since ceasing production, the Company has primarily financed its operations through equity and debt financings. The Company has been successful at raising capital in the past, most recently with the completion of a registered direct offering in March 2015 for estimated net proceeds of $5,400. In addition, the Company was able to successfully raise capital in 2014 through debt and equity fundraising efforts. Specifically, the completion of a registered direct offering in February 2014 for net proceeds of $9,307 as well as procuring a convertible secured debt facility in November 2013 that provided the Company with $8,000 in cash, which debt matures in December 2016.  The Company also has an existing ATM Sales Agreement that allows the Company to sell from time-to-time, shares of its common stock in at-the-market offerings having an aggregate offering price up to $15,000 of which the Company has a total of $6.,000 for future sales available as of March 19, 2015.  While the Company has been successful in the past raising funds through equity and debt financings, no assurance can be given that additional financing will be available to us in amounts sufficient to meet our needs, including upon the maturity of our outstanding debt, or on terms acceptable to us.  In the event funds are not available, we may be required to change our planned business strategies or we could default under our secured debt facility.

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Commitments and Contingencies (Details Narrative)

1 Months Ended

12 Months Ended

1 Months Ended

Jul. 31, 2013

Dec. 31, 2014

lb

Jul. 31, 2014

Business acquisition purchase price description

The purchase price will be based on published market prices at the time of delivery subject to a five percent discount when the market price is $56.50 per pound of U3O8 or less, or seven percent when greater than $56.50 per pound.

Market price on sales contracts, per pound

56.50

Sale of contracts

3,000,000

Percentage of average spot price

4.00%

Minimum [Member]

Percentage on published market prices

5.00%

Maximum [Member]

Purchase on contracts

3,000,000

Percentage on published market prices

7.00%

Itochu Corporation [Member]

Acquisition amount on sales contracts

510,000

U.S.A Inc [Member]

Acquisition amount on sales contracts

480,000

Texas Properties [Member]

Contract price of sales contracts, per pound

6

Sale of contracts

600,000

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Other Long-Term Liabilities and Deferred Credits (Tables)

12 Months Ended

Dec. 31, 2014

Other Liabilities Disclosure [Abstract]

Schedule of Other Long-Term Liabilities and Deferred Credits

Other long-term liabilities and deferred credits on the balance sheet consisted of:

	December 31,
	2014		2013
Royalties payable(1)	$	500	$	500
Crownpoint property(1)		450		450
GE purchase contract(2)		—		400
	$	950	$	1,350

(1)	Royalties payable and Crownpoint property liability were derived during prior years of production. Liabilities do not accrue interest or have a stated maturity date.
(2)	Balance is due on August 1, 2015 and has been reclassified to short-term accrued liabilities as of December 31, 2014.

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Convertible Loan, Related Party (Details Narrative) (USD $) In Thousands, except Share data, unless otherwise specified	3 Months Ended	12 Months Ended		0 Months Ended
	Dec. 31, 2014	Dec. 31, 2014	Dec. 31, 2013	Nov. 13, 2014	Nov. 13, 2013	Apr. 30, 2014	Apr. 29, 2014	Jan. 22, 2013
Line of Credit Facility [Line Items]
Debt maturity date		Nov. 13, 2014
Interest expense	$ 198	$ 2,368	$ 408
Debt conversation price per shares	$ 2.60	$ 2.60
Amortization of debt discount		1,567	87
Common stock, shares outstanding	25,192,669	25,192,669	19,820,258
Issuance of common stock, shares		428,765
Loan Agreement [Member]
Line of Credit Facility [Line Items]
Debt maturity date		Dec. 31, 2016
Maximum [Member]
Line of Credit Facility [Line Items]
Common stock, shares outstanding								161,100,000
Minimum [Member]
Line of Credit Facility [Line Items]
Common stock, shares outstanding								16,100,000
Resource Capital Fund V LP [Member] | Notes Payable, Other Payables [Member]
Line of Credit Facility [Line Items]
Debt interest rate	10.00%	10.00%
Resource Capital Fund V LP [Member] | Loan Agreement [Member]
Line of Credit Facility [Line Items]
Debt maturity date		Dec. 31, 2016
Percentage of commitment fee paid		1.00%
Percentage of loan establishment fee		2.00%
Loan establishment fee		300
Prepayment of outstanding loan secured for pledged		5,000
Debt conversation price per shares	$ 2.60	$ 2.60
Equity price per share		$ 1.00
Issuance of common stock, shares		3,076,923
Resource Capital Fund V LP [Member] | Loan Agreement [Member] | March 19, 2015 [Member]
Line of Credit Facility [Line Items]
Debt conversation price per shares				$ 2.60
Common stock, shares outstanding				6,900,000
Percentage of outstanding common stock				23.50%
Debt conversation amount				8,000
Issuance of common stock, shares				3,076,923
Resource Capital Fund V LP [Member] | Loan Agreement [Member] | Period through 29 January 2014 [Member]
Line of Credit Facility [Line Items]
Debt interest rate	12.00%	12.00%
Resource Capital Fund V LP [Member] | Advanced Tranche [Member] | Senior Secured Loan Facility [Member]
Line of Credit Facility [Line Items]
Proceeds from borrowings					3,000
Resource Capital Fund V LP [Member] | Maximum [Member] | Loan Agreement [Member]
Line of Credit Facility [Line Items]
Percentage of outstanding common stock	30.60%	30.60%
Resource Capital Fund V LP [Member] | Secured Convertible Loan Facility [Member] | Three Tranche [Member]
Line of Credit Facility [Line Items]
Proceeds from borrowings					5,000
Resource Capital Fund V LP [Member] | Secured Convertible Loan Facility [Member] | First Tranche [Member]
Line of Credit Facility [Line Items]
Proceeds from borrowings					5,000
Line of credit remaining amount					2,000
Resource Capital Fund V LP [Member] | Secured Convertible Loan Facility [Member] | Final Tranche [Member] | Loan Agreement [Member]
Line of Credit Facility [Line Items]
Proceeds from borrowings						3,000
Resource Capital Fund V LP [Member] | Secured Convertible Loan Facility [Member] | Receipt of AdvanceTranche [Member] | Loan Agreement [Member]
Line of Credit Facility [Line Items]
Proceeds from borrowings		8,000
Resource Capital Fund V LP [Member] | Secured Convertible Loan Facility [Member] | Maximum [Member]
Line of Credit Facility [Line Items]
Maximum borrowing capacity					15,000
Resource Capital Fund V LP [Member] | Secured Convertible Loan Facility [Member] | Maximum [Member] | Loan Agreement [Member]
Line of Credit Facility [Line Items]
Line of credit fee available							15,000
Resource Capital Fund V LP [Member] | Secured Convertible Loan Facility [Member] | Minimum [Member] | Loan Agreement [Member]
Line of Credit Facility [Line Items]
Line of credit fee available							$ 8,000

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Subsequent Event

12 Months Ended

Dec. 31, 2014

Subsequent Events [Abstract]

Subsequent Event

14. SUBSEQUENT EVENT

Securities Purchase Agreement

On March 6, 2015 the Company completed a registered direct offering for gross proceeds of $6,000. Net proceeds to the Company, after deducting agent’s fees and estimated offering expenses, were $5,400. Under the Securities Purchase Agreement, the Company agreed to sell 4,000,000 units at a price of $1.50 per unit. Each unit entitled the purchaser to receive one share of common stock of the Company and a warrant to purchase 0.55 shares of common stock at an exercise price of $2.00 per whole share. The warrants will be exercisable for a period of 5 years beginning on the six-month anniversary of original issuance and ending on a date that is five years after the first date of exercisability.