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Assets Held for Sale	12 Months Ended
Dec. 31, 2015
Assets Held For Sale
Assets Held for Sale	5. ASSETS HELD FOR SALE On November 9, 2015, we entered into a letter of intent with Laramide Resources for the sale of our Churchrock and Crownpoint properties in New Mexico. Under the terms of the letter of intent, URI and certain of our subsidiaries have agreed, subject to the execution of definitive documentation, to transfer ownership of the Churchrock and Crownpoint properties to Laramide Resources or its subsidiaries. Laramide Resources will assume any liabilities related to reclamation and remediation on the subject lands. Definitive documentation on the terms above is expected to be executed in the first quarter of 2016 with closing of the transaction expected to occur during the first half of 2016, subject to customary conditions, including applicable regulatory approvals. As a result, the assets and liabilities associated with the Churchrock and Crownpoint projects have been classified as held for sale as of December 31, 2015 and 2014, for comparative purposes. As the Company recently acquired a portion of the Churchrock project from Energy Fuels Inc, and recorded the assets at a fair value of $2.1 million, no further fair value adjustment was necessary. The remaining Churchrock project mineral rights and the Crownpoint project mineral rights assets were previously impaired and the carrying value is nil.

Assets Held for Sale

12 Months Ended

Dec. 31, 2015

5. ASSETS HELD FOR SALE

On November 9, 2015, we entered into a letter of intent with Laramide Resources for the sale of our Churchrock and Crownpoint properties in New Mexico. Under the terms of the letter of intent, URI and certain of our subsidiaries have agreed, subject to the execution of definitive documentation, to transfer ownership of the Churchrock and Crownpoint properties to Laramide Resources or its subsidiaries. Laramide Resources will assume any liabilities related to reclamation and remediation on the subject lands. Definitive documentation on the terms above is expected to be executed in the first quarter of 2016 with closing of the transaction expected to occur during the first half of 2016, subject to customary conditions, including applicable regulatory approvals. As a result, the assets and liabilities associated with the Churchrock and Crownpoint projects have been classified as held for sale as of December 31, 2015 and 2014, for comparative purposes. As the Company recently acquired a portion of the Churchrock project from Energy Fuels Inc, and recorded the assets at a fair value of $2.1 million, no further fair value adjustment was necessary. The remaining Churchrock project mineral rights and the Crownpoint project mineral rights assets were previously impaired and the carrying value is nil.