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Assets Held for Sale	3 Months Ended
Mar. 31, 2016
Assets Held For Sale
Assets Held for Sale	5. ASSETS HELD FOR SALE As discussed in Note 2, above, on April 7, 2016, the Company entered into the Laramide SPA for the sale of our Churchrock and Crownpoint properties in New Mexico. Under the terms of the Laramide SPA, the Company and certain of its subsidiaries have agreed 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. Closing of the transaction is subject to various conditions, including, without limitation, completion of a financing by Laramide Resources on commercially reasonable terms and in such amount as is necessary to fund the $5.25 million purchase price and certain customary and required consents and releases of and by third parties, including RCF (defined in Note 6, below). As a result, the assets and liabilities associated with the Churchrock and Crownpoint projects have been classified as held for sale as of March 31, 2016 and December 31, 2015. 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. As the agreed sales proceeds exceed the carrying value, no further fair value adjustment was necessary. The remaining Churchrock and Crownpoint properties mineral rights were previously impaired and the carrying value is nil.

Assets Held for Sale

3 Months Ended

Mar. 31, 2016

5. ASSETS HELD FOR SALE

As discussed in Note 2, above, on April 7, 2016, the Company entered into the Laramide SPA for the sale of our Churchrock and Crownpoint properties in New Mexico. Under the terms of the Laramide SPA, the Company and certain of its subsidiaries have agreed 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. Closing of the transaction is subject to various conditions, including, without limitation, completion of a financing by Laramide Resources on commercially reasonable terms and in such amount as is necessary to fund the $5.25 million purchase price and certain customary and required consents and releases of and by third parties, including RCF (defined in Note 6, below). As a result, the assets and liabilities associated with the Churchrock and Crownpoint projects have been classified as held for sale as of March 31, 2016 and December 31, 2015. 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. As the agreed sales proceeds exceed the carrying value, no further fair value adjustment was necessary. The remaining Churchrock and Crownpoint properties mineral rights were previously impaired and the carrying value is nil.