Liquidity	3 Months Ended
Mar. 31, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Liquidity	2. LIQUIDITY At March 31, 2017, the Company had working capital of $11.4 million, which is expected to provide it with the necessary liquidity through March 31, 2018. At December 31, 2016, the Company had a working capital deficit of $4.3 million. The increase in working capital of $15.7 million for the three months ended March 31, 2017 was primarily due to the following: · the completion of two equity offerings in January 2017 and February 2017 for net proceeds of $8.9 million and $4.5 million, respectively; · the completion of the sale of the Company’s wholly-owned subsidiary Hydro Resources Inc. (“HRI”) to Laramide Resources Ltd. (“Laramide”) on January 5, 2017. Upon completion, the Company received $2.2 million in cash, a $5.0 million promissory note, of which $1.5 million is due within 12 months and 2,218,333 shares of Laramide Resources Ltd.’s common stock which had a fair value of $1.0 million at March 31, 2017. Details regarding this transaction are discussed in Note 3, below; and · the repayment of the remaining $5.5 million outstanding under the RCF Loan (defined in Note 7, below.) Subsequent to March 31, 2017, the Company entered into a Controlled Equity Offering Sales Agreement on April 14, 2017 pursuant to which the Company may offer and sell from time to time shares of its common stock having an aggregate offering price of up to $30.0 million through Cantor Fitzgerald & Co. acting as sales agent (the “ATM Offering”.) The Company believes that the ATM Offering, along with its existing working capital balance, will provide it with the necessary liquidity to fund operations in 2018 and beyond. The Company will also continue to explore additional opportunities to raise capital, further monetize its non-core assets and identify ways to reduce its cash expenditures. While the Company has been successful in the past raising funds through equity and debt financings as well as through the sale of non-core assets, no assurance can be given that additional financing will be available to it in amounts sufficient to meet the Company’s needs or on terms acceptable to the Company. In the event that funds are not available, the Company may be required to materially change its business plans.

Liquidity

3 Months Ended

Mar. 31, 2017

Organization, Consolidation and Presentation of Financial Statements [Abstract]

2. LIQUIDITY

At March 31, 2017, the Company had working capital of $11.4 million, which is expected to provide it with the necessary liquidity through March 31, 2018. At December 31, 2016, the Company had a working capital deficit of $4.3 million. The increase in working capital of $15.7 million for the three months ended March 31, 2017 was primarily due to the following:

· the completion of two equity offerings in January 2017 and February 2017 for net proceeds of $8.9 million and $4.5 million, respectively;

· the completion of the sale of the Company’s wholly-owned subsidiary Hydro Resources Inc. (“HRI”) to Laramide Resources Ltd. (“Laramide”) on January 5, 2017. Upon completion, the Company received $2.2 million in cash, a $5.0 million promissory note, of which $1.5 million is due within 12 months and 2,218,333 shares of Laramide Resources Ltd.’s common stock which had a fair value of $1.0 million at March 31, 2017. Details regarding this transaction are discussed in Note 3, below; and

· the repayment of the remaining $5.5 million outstanding under the RCF Loan (defined in Note 7, below.)

Subsequent to March 31, 2017, the Company entered into a Controlled Equity Offering Sales Agreement on April 14, 2017 pursuant to which the Company may offer and sell from time to time shares of its common stock having an aggregate offering price of up to $30.0 million through Cantor Fitzgerald & Co. acting as sales agent (the “ATM Offering”.) The Company believes that the ATM Offering, along with its existing working capital balance, will provide it with the necessary liquidity to fund operations in 2018 and beyond. The Company will also continue to explore additional opportunities to raise capital, further monetize its non-core assets and identify ways to reduce its cash expenditures.

While the Company has been successful in the past raising funds through equity and debt financings as well as through the sale of non-core assets, no assurance can be given that additional financing will be available to it in amounts sufficient to meet the Company’s needs or on terms acceptable to the Company. In the event that funds are not available, the Company may be required to materially change its business plans.