GEOGRAPHIC AND SEGMENT INFORMATION

12 Months Ended

Dec. 31, 2020

GEOGRAPHIC AND SEGMENT INFORMATION

GEOGRAPHIC AND SEGMENT INFORMATION

13. GEOGRAPHIC AND SEGMENT INFORMATION

In addition to its corporate operations, the Company currently operates a graphite battery-materials reportable segment. During 2020, the Company made the strategic decision to sell its uranium business and discontinue its lithium business, both of which conducted exploration, standby operations and restoration and reclamation activities. As a result, the Company re-classed all uranium and lithium business activities as discontinued operations.

The reportable segments are those operations whose operating results are reviewed by the Chief  Executive Officer to make decisions about resources to be allocated to the segment and assess its performance provided those operations pass certain quantitative thresholds. Operations whose revenues, earnings or losses or assets exceed or are expected to exceed 10% of the total consolidated revenue, earnings or losses or assets are reportable segments. Information about current assets and liabilities of the segments has not been provided because the information is not used to assess performance.

The tables below provide a breakdown of the long-term assets by reportable segments as of December 31, 2020 and 2019:

	December 31, 2020
(thousands of dollars)	Corporate		Graphite		Total
Net property, plant and equipment	$	13	$	8,972	$	8,985
Restricted cash		—		10		10
Operating Lease Right of Use Assets		353		—		353
Total long-term assets	$	366	$	8,982	$	9,348

	December 31, 2019
(thousands of dollars)	Corporate		Graphite		Total
Net property, plant and equipment	$	23	$	8,972	$	8,995
Restricted cash		—		10		10
Operating Lease Right of Use Assets		470		—		470
Total long-term assets	$	493	$	8,982	$	9,475

The tables below provide a breakdown of the reportable segments for the years ended December 31, 2020 and 2019. Non-mining activities and other administrative operations are reported in the Corporate column.

	Year Ended
	December 31, 2020
(thousands of dollars)	Corporate		Graphite		Total
Statement of Operations
Mineral property expenses	$	—	$	34	$	34
Product development expenses		—		4,049		4,049
General and administrative		5,204		474		5,678
Arbitration expenses		1,458		—		1,458
Depreciation and amortization		17		—		17
Total		6,679		4,557		11,236
Loss from continuing operations		(6,679)		(4,557)		(11,236)
Other expense		(2,676)		—		(2,676)
Loss before taxes	$	(9,355)	$	(4,557)	$	(13,912)

	Year Ended
	December 31, 2019
(thousands of dollars)	Corporate		Graphite		Total
Statement of Operations
Mineral property expenses	$	—	$	320	$	320
Product development expenses		—		116		116
General and administrative		4,131		343		4,474
Arbitration expenses		1,378		—		1,378
Depreciation and amortization		6		—		6
Total		5,515		779		6,294
Loss from continuing operations		(5,515)		(779)		(6,294)
Other (expense)		290		—		290
Loss before taxes	$	(5,225)	$	(779)	$	(6,004)