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Subsequent Event
12 Months Ended
Dec. 31, 2016
Subsequent Events [Abstract]  
Subsequent Event

14. SUBSEQUENT EVENTS

Laramide Asset Sale

As discussed in Note 5 above, on January 5, 2017, the Company completed the sale of its wholly-owned subsidiary Hydro Resources, Inc., which holds the Churchrock and Crownpoint projects, to Laramide.

RCF Loan Retirement

As discussed in Note 6 above, on February 9, 2017 the Company and Esousa terminated the Esousa MEA after the Company failed to reach a quorum at a Special Meeting of Stockholders on February 8, 2017. Following termination of the Esousa MEA, the Company’s Board of Directors agreed to repay the $5.5 million principal and accrued unpaid interest in cash on February 9, 2017. As a result, the Company no longer has any obligations outstanding under the RCF Loan

Equity Financings

On February 16, 2017, we completed a registered direct offering for gross proceeds of $4.5 million with Aspire Capital whereby Aspire Capital purchased 2,100,000 shares of common stock at a price of $1.58 and 748,101 pre-funded common stock purchase warrants at a price of $1.57.  The warrants have an exercise price of $0.01 per share and a term of three years. As of March 2, 2017 all of the pre-funded warrants have been exercised.

On January 19, 2017, the Company completed a registered public offering for gross proceeds of $9.7 million. The Company sold 1,399,140 shares of common stock at a price of $2.01 per share and 3,426,731 pre-funded warrants at a price of $2.00 per warrant. The warrants have an exercise price of $0.01. As of March 2, 2017, all of the pre-funded warrants have been exercised.