Property, Plant and Equipment

6 Months Ended

Jun. 30, 2018

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment

6. PROPERTY, PLANT AND EQUIPMENT

	Net Book Value of Property, Plant and Equipment at June 30, 2018
(thousands of dollars)	Turkey		Texas		Alabama		New Mexico		Corporate		Total
Uranium plant	$	-	$	8,303	$	-	$	-	$	-	$	8,303
Mineral rights and properties		-		-		8,972		7,806		-		16,778
Other property, plant and equipment		8		1,069		1		-		187		1,265
Total	$	8	$	9,372	$	8,973	$	7,806	$	187	$	26,346

	Net Book Value of Property, Plant and Equipment at December 31, 2017
(thousands of dollars)	Turkey		Texas		Alabama		New Mexico		Corporate		Total
Uranium plant	$	-	$	8,304	$	-	$	-	$	-	$	8,304
Mineral rights and properties		17,968		-		-		7,806		-		25,774
Other property, plant and equipment		11		1,109		-		-		211		1,331
Total	$	17,979	$	9,413	$	-	$	7,806	$	211	$	35,409

Impairment of Temrezli and Sefaatli Projects

On June 20, 2018, the General Directorate of Mining Affairs, a department of the Turkish Ministry of Energy and Natural Resources, notified the Company that the mining and exploration licenses for its Temrezli and Sefaatli projects located in Turkey have been revoked and potential compensation has been proffered. While the Company is investigating the legality of this action and what remedies, including compensation, might be available to the Company, the Company has determined that it is more likely than not that the Company will be unable to explore, develop, mine or otherwise benefit from the mineral properties. Therefore, the Company has determined that all of the uranium mineral holding property assets located in Turkey were fully impaired. The Company will recognize compensation for the mining and exploration licenses when the amount of the full and fair compensation is fixed and determinable and the ability to collect is probable.

The Company reviews and evaluates its long-lived assets for impairment on an annual basis or more frequently when events or changes in circumstances indicate that the related carrying amounts may not be recoverable.