Ur-Energy (URG) 10-Q 4 May 18 2018 Q1 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	3 Months Ended
	Mar. 31, 2018	May 03, 2018
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2018
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q1
Entity Current Reporting Status	Yes
Entity Common Stock, Shares Outstanding		146,715,824
Entity Registrant Name	UR-ENERGY INC
Entity Central Index Key	1,375,205
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Current assets
Cash and cash equivalents (note 3)	$ 9,169	$ 3,879
Accounts receivable	51	33
Inventory (note 4)	6,998	4,515
Prepaid expenses	979	741
Assets, Current, Total	17,197	9,168
Restricted cash (note 5)	7,458	7,558
Mineral properties (note 6)	44,256	44,677
Capital assets (note 7)	26,538	26,961
Assets, Noncurrent, Total	78,252	79,196
Assets, Total	95,449	88,364
Current liabilities
Accounts payable and accrued liabilities (note 8)	4,410	3,039
Current portion of notes payable (note 9)	4,844	4,774
Environmental remediation accrual	72	72
Liabilities, Current, Total	9,326	7,885
Notes payable (note 9)	13,424	14,662
Asset retirement obligations (note 10)	27,162	27,036
Liabilities	49,912	49,583
Share Capital
Common shares, without par value, unlimited shares authorized; shares issued and outstanding: 146,599,652 at March 31, 2018 and 146,531,933 at December 31, 2017	177,122	177,063
Warrants	4,109	4,109
Contributed surplus	15,754	15,454
Accumulated other comprehensive income	3,642	3,663
Deficit	(155,090)	(161,508)
Stockholders'Equity Attributable to Parent, Total	45,537	38,781
Liabilities and Equity, Total	95,449	88,364
Preferred Class A
Share Capital
Class A preferred shares, without par value, unlimited shares authorized; no shares issued and outstanding

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Mar. 31, 2018	Dec. 31, 2017
Common shares, without par value	$ 0	$ 0
Common shares, Shares issued	146,599,652	146,531,933
Common shares, Shares outstanding	146,599,652	146,531,933
Preferred Class A
Class A preferred shares, without par value	$ 0	$ 0
Class A preferred shares, shares issued	0	0
Class A preferred shares, shares outstanding	0	0

Consolidated Statements of Oper

Consolidated Statements of Operations and Comprehensive Loss - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Income Statement [Abstract]
Sales (note 12)	$ 19,672	$ 14,828
Cost of sales	(9,758)	(6,295)
Gross profit	9,914	8,533
Operating Expenses
Exploration and evaluation	(766)	(912)
Development	(432)	(216)
General and administrative	(1,922)	(1,714)
Accretion of asset retirement obligations (Note 10)	(126)	(132)
Income (loss) from operations	6,668	5,559
Net interest expense	(288)	(378)
Loss on equity investment	(1)
Foreign exchange gain	6	8
Other income	33
Net income for the period	$ 6,418	$ 5,189
Income (Loss) per common share:
Basic	$ 0.04	$ 0.04
Diluted	$ 0.04	$ 0.03
Weighted average number of common shares outstanding:
Basic	146,568,609	145,324,153
Diluted	147,821,876	149,901,327
COMPREHENSIVE INCOME (LOSS)
Net income (loss) for the period	$ 6,418	$ 5,189
Translation adjustment on foreign operations	(21)	(11)
Comprehensive income (loss) for the period	$ 6,397	$ 5,178

Consolidated Statements of Shar

Consolidated Statements of Shareholders' Equity - 3 months ended Mar. 31, 2018 - USD ($) $ in Thousands	Capital Stock	Warrants	Contributed Surplus [Member]	Accumulated Other Comprehensive Income	Deficit	Total
Beginning Balance at Dec. 31, 2017	$ 177,063	$ 4,109	$ 15,454	$ 3,663	$ (161,508)	$ 38,781
Beginning Balance (in shares) at Dec. 31, 2017	146,531,933,000					146,531,933
Exercise of stock options	$ 59		(17)			$ 42
Exercise of stock options (in shares)	67,719,000					67,719
Common shares issued for cash, net of issue costs (in shares)						1,536,169
Redemption of vested RSUs			(13)			$ (13)
Non-cash stock compensation			330			330
Net loss and comprehensive (loss) income				(21)	6,418	6,397
Ending Balance at Mar. 31, 2018	$ 177,122	$ 4,109	$ 15,754	$ 3,642	$ (155,090)	$ 45,537
Ending Balance (in shares) at Mar. 31, 2018	146,599,652,000					146,599,652

Consolidated Statements of Cash

Consolidated Statements of Cash Flow - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Cash provided by (used in) Operating activities
Net income (loss) for the period	$ 6,418	$ 5,189
Items not affecting cash:
Stock based expense	330	287
Depreciation and amortization	906	1,287
Accretion of asset retirement obligation	126	132
Amortization of deferred loan costs	29	29
Gain on disposition of assets	(2)
Loss (gain) on foreign exchange	(6)	(8)
Change in non-cash working capital items:
Accounts receivable	(18)	(2)
Inventory	(2,483)	(1,652)
Prepaid expenses	87	87
Accounts payable and accrued liabilities	1,047	1,217
Net Cash Provided by (Used in) Operating Activities, Total	6,434	6,566
Investing activities
Mineral property costs	(14)
Purchase of capital assets	(46)	(10)
Net Cash Provided by (Used in) Investing Activities, Total	(60)	(10)
Financing activities
Issuance of common shares for cash		1,169
Share issue costs		(43)
Proceeds from exercise of stock options	42	349
RSUs redeemed to pay withholding or paid in cash	(13)	(53)
Repayment of debt	(1,198)	(1,131)
Net Cash Provided by (Used in) Financing Activities, Total	(1,169)	291
Effects of foreign exchange rate changes on cash	(15)	(6)
Net change in cash and cash equivalents	5,190	6,841
Beginning cash and cash equivalents	11,437
Ending cash and cash equivalents (note 15)	$ 16,627	$ 15,950

Nature of Operations

Nature of Operations	3 Months Ended
	Mar. 31, 2018
Nature of Operations [Abstract]
Nature of operations	1. Ur-Energy Inc. (the “Company”) was incorporated on March 22, 2004 under the laws of the Province of Ontario. The Company was continued under the Canada Business Corporations Act on August 8, 2006. Headquartered in Littleton, Colorado, the Company is an exploration stage mining company, as defined by U.S. Securities and Exchange Commission (“SEC”) Industry Guide 7. The Company is engaged in uranium mining and recovery operations, with activities including the acquisition, exploration, development and production of uranium mineral resources located in Wyoming. As of August 2013, the Company commenced uranium production at its Lost Creek Project in Wyoming. Due to the nature of the uranium mining methods used by the Company on the Lost Creek Property, and the definition of “mineral reserves” under National Instrument 43-101 (“NI 43-101”), which uses the Canadian Institute of Mining, Metallurgy and Petroleum (“CIM”) Definition Standards, the Company has not determined whether the properties contain mineral reserves. However, the Company’s “ Amended Preliminary Economic Assessment of the Lost Creek Property, Sweetwater County, Wyoming, ” February 8, 2016 (“Lost Creek PEA”), outlines the potential viability of the Lost Creek Property. The recoverability of amounts recorded for mineral properties is dependent upon the discovery of economic resources, the ability of the Company to obtain the necessary financing to develop the properties and upon attaining future profitable production from the properties or sufficient proceeds from disposition of the properties.

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2018
Summary of Significant Accounting Policies [Abstract]
Summary of Significant Accounting Policies	2. Basis of presentation These unaudited interim consolidated financial statements do not conform in all respects to the requirements of United States generally accepted accounting principles (“US GAAP”) for annual financial statements. The unaudited interim financial statements reflect all normal adjustments which in the opinion of management are necessary for a fair statement of the results for the periods presented. These unaudited interim consolidated financial statements should be read in conjunction with the audited annual consolidated financial statements for the year ended December 31, 2016. We apply the same accounting policies as in the prior year other than as noted below. The year-end balance sheet data were derived from the audited financial statements and certain information and footnote disclosures required by US GAAP have been condensed or omitted. New accounting pronouncements which may affect future reporting In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842) , which requires lessees to recognize all leases on the balance sheet, including operating leases, unless the lease is a short-term lease. ASU 2016-02 also requires additional disclosures regarding leasing arrangements. ASU 2016-02 is effective for interim periods and fiscal years beginning after December 15, 2018. As at March 31, 2018, the Company’s only leases are for vehicles, equipment, and office space in one location. The Casper office and copier leases are the only leases currently remaining in effect as of the date of implementation of the standard. We have gathered the necessary information for proper disclosure of that lease once the ASU is effective. We will continue to monitor any new leases to ensure that we have all the information necessary to handle the transition to the new standard and properly report the transactions. We do not anticipate the new standard will affect our net income materially, but will result in additional fixed assets and the related lease liabilities. New accounting pronouncements which were implemented this year In May 2014, the FASB issued Accounting Standards Update (“ASU”) 2014-09, “ Revenue from Contracts with Customers (Topic 606) .” The amendments in ASU 2014-09 affect any entity that either enters into contracts with customers to transfer goods or services or enters into contracts for the transfer of non-financial assets unless those contracts are within the scope of other standards ( e.g., insurance contracts or lease contracts). This ASU superseded the revenue recognition requirements in Topic 605, Revenue Recognition, and most industry-specific guidance, and creates a Topic 606, Revenue from Contracts with Customers. The core principle of the guidance is that an entity should recognize revenue to depict the transfer of the promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The Company adopted Topic 606 effective January 1, 2018. . The Company purchases and produces U 3 O 8 and recognizes revenue at point of sale so revenue will continue to be recognized at that point under the new standard. The adoption of the new standard had no impact on either our current or prior revenue recognition processes or reporting, which, electing the retrospective basis for implementing the standard, results in no changes to prior financial reporting. In addition, there is no change in our revenue recognition treatment in the current period. Our revenues are primarily derived from the sale of U 3 O 8 under either long-term (delivery in typically two to five years) or spot (immediate delivery) contracts with our customers. The contracts specify the quantity to be delivered, the price or specific calculation method of the price, payment terms and the year(s) of the delivery. There may be some variability in the dates of the delivery or the quantity to be delivered depending on the contract, but those issues are addressed before the delivery date. On the date of the delivery, we receive notice from the storage facility of the transfer of material at which point we invoice the customer and record the sale. We also receive a small amount of revenue from disposal fees. We have contracts with our customers which specify the type and volume of material which can be disposed. Monthly, we invoice those customers based on deliveries of material to the disposal site by the customer. Materials are measured and categorized at the time of delivery and verified by the customer. We recognize the revenue when the invoice is prepared at the end of the month in which the material was received. In January 2016, the FASB issued ASU 2016-1, Recognition and Measurement of Financial Assets and Financial Liabilities (Topic 825) . The amendments in this ASU supersede the guidance to classify equity securities with readily determinable fair values into different categories (that is, trading or available-for-sale) and require equity securities (including other ownership interests, such as partnerships, unincorporated joint ventures, and limited liability companies) to be measured at fair value with changes in the fair value recognized through net income. The amendments allow equity investments that do not have readily determinable fair values to be remeasured at fair value either upon the occurrence of an observable price change or upon identification of an impairment. The amendments also require enhanced disclosures about those investments. The amendments improve financial reporting by providing relevant information about an entity’s equity investments and reducing the number of items that are recognized in other comprehensive income. The Company adopted the amended Topic 825 effective January 1, 2018. The adoption of this guidance had no effect on our financial statements or other financial reporting.

Cash and Cash Equivalents

Cash and Cash Equivalents	3 Months Ended
	Mar. 31, 2018
Cash and Cash Equivalents [Abstract]
Cash and Cash Equivalents	3. The Company’s cash and cash equivalents consist of the following: As at March 31, 2018 December 31, 2017 $ $ Cash on deposit at banks 1,312 1,667 Money market funds 7,857 2,212 9,169 3,879

Inventory

Inventory	3 Months Ended
	Mar. 31, 2018
Inventory [Abstract]
Inventory	4. Inventory The Company’s inventory consists of the following: As at March 31, 2018 December 31, 2017 $ $ In-process inventory 416 315 Plant inventory 538 369 Conversion facility inventory 6,044 3,831 6,998 4,515 In conjunction with our lower of cost or net realizable value calculations, the Company reduced the inventory valuation by $98 for the quarter ended March 31, 2018.

Restricted Cash

Restricted Cash	3 Months Ended
	Mar. 31, 2018
Restricted Cash [Abstract]
Restricted cash	5. Restricted Cash The Company’s restricted cash consists of the following: As at March 31, 2018 December 31, 2017 $ $ Money market account 7,458 7,458 Certificates of deposit - 100 7,458 7,558 The bonding requirements for reclamation obligations on various properties have been agreed to by the Wyoming Department of Environmental Quality (“WDEQ”), the Bureau of Land Management (“BLM”) and the Nuclear Regulatory Commission (“NRC”) as applicable. The restricted money market accounts are pledged as collateral against performance surety bonds which are used to secure the potential costs of reclamation related to those properties. Surety bonds providing $27.0 million of coverage towards specific reclamation obligations are collateralized by $7.5 million of the restricted cash at March 31, 2018.

Mineral Properties

Mineral Properties	3 Months Ended
	Mar. 31, 2018
Mineral Properties [Abstract]
Mineral Properties	6 . Mineral Properties The Company’s mineral properties consist of the following: Lost Creek Pathfinder Other U.S. Property Mines Properties Total $ $ $ $ Balance, December 31, 2017 11,810 19,701 13,166 44,677 Acquisition costs - - 14 14 Amortization (435) - - (435) Balance, March 31, 2018 11,375 19,701 13,180 44,256 Lost Creek Property The Company acquired certain Wyoming properties in 2005 when Ur-Energy USA Inc. purchased 100% of NFU Wyoming, LLC. Assets acquired in this transaction include the Lost Creek Project, other Wyoming properties and development databases. NFU Wyoming, LLC was acquired for aggregate consideration of $20 million plus interest. Since 2005, the Company has increased its holdings adjacent to the initial Lost Creek acquisition through staking additional claims and additional property purchases and leases. There is a royalty on each of the State of Wyoming sections under lease at the Lost Creek, LC West and EN Projects, as required by law. Other royalties exist on certain mining claims at the LC South, LC East and EN Projects. Currently, there are no royalties on the mining claims in the Lost Creek, LC North or LC West Projects. Pathfinder Mines The Company acquired additional Wyoming properties when Ur-Energy USA Inc. closed a Share Purchase Agreement (“SPA”) with an AREVA Mining affiliate in December 2013. Under the terms of the SPA, the Company purchased Pathfinder Mines Corporation (“Pathfinder”) to acquire additional mineral properties. Assets acquired in this transaction include the Shirley Basin mine, portions of the Lucky Mc mine, machinery and equipment, vehicles, office equipment and development databases. Pathfinder was acquired for aggregate consideration of $6.7 million, a 5% production royalty under certain circumstances and the assumption of $5.7 million in estimated asset reclamation obligations . At June 30, 2016, the royalty expired and was terminated.

Capital Assets

Capital Assets	3 Months Ended
	Mar. 31, 2018
Capital Assets
Capital Assets	7. The Company’s capital assets consist of the following: As of As of March 31, 2018 December 31, 2017 Accumulated Net Book Accumulated Net Book Cost Depreciation Value Cost Depreciation Value $ $ $ $ $ $ Rolling stock 3,431 3,211 220 3,388 3,184 204 Enclosures 32,991 7,292 25,699 32,991 6,880 26,111 Machinery and equipment 1,237 679 558 1,237 663 574 Furniture, fixtures and leasehold improvements 119 106 13 119 104 15 Information technology 1,119 1,071 48 1,120 1,063 57 38,897 12,359 26,538 38,855 11,894 26,961

Accounts Payable and Accrued Li

Accounts Payable and Accrued Liabilities	3 Months Ended
	Mar. 31, 2018
Accounts Payable and Accrued Liabilities [Abstract]
Accounts Payable and Accrued Liabilities	8. Accounts payable and accrued liabilities consist of the following: As at March 31, 2018 December 31, 2017 $ $ Accounts payable 1,088 840 Payroll and other taxes 2,221 1,224 Severance and ad valorem tax payable 1,101 975 4,410 3,039

Notes Payable

Notes Payable	3 Months Ended
	Mar. 31, 2018
Notes Payable [Abstract]
Notes Payable	9. On October 15, 2013, the Sweetwater County Commissioners approved the issuance of a $34.0 million Sweetwater County, State of Wyoming, Taxable Industrial Development Revenue Bond (Lost Creek Project), Series 2013 (the “Sweetwater IDR Bond”) to the State of Wyoming, acting by and through the Wyoming State Treasurer, as purchaser. On October 23, 2013, the Sweetwater IDR Bond was issued and the proceeds were in turn loaned by Sweetwater County to Lost Creek ISR, LLC pursuant to a financing agreement dated October 23, 2013 (the “State Bond Loan”). The State Bond Loan calls for payments of interest at a fixed rate of 5.75% per annum on a quarterly basis commencing January 1, 2014. The principal is payable in 28 quarterly installments commencing January 1, 2015 and continuing through October 1, 2021. Deferred loan fees include legal fees, commissions, commitment fees and other costs associated with obtaining the financing. Those fees amortizable within 12 months of March 31, 2018 are considered current. The following table lists the current (within 12 months) and long term portion of the Company’s debt instrument: As at March 31, 2018 December 31, 2017 $ $ Current debt Sweetwater County Loan 4,965 4,895 Less deferred financing costs (121) (121) 4,844 4,774 Long term debt Sweetwater County Loan 13,728 14,996 Less deferred financing costs (304) (334) 13,424 14,662 Schedule of payments on outstanding debt as of March 31, 2018: Debt Total 2018 2019 2020 2021 Maturity $ $ $ $ $ Sweetwater County Loan Principal 18,693 3,697 5,183 5,487 4,326 01-Oct-21 Interest 2,077 753 752 447 125 Total 20,770 4,450 5,935 5,934 4,451

Asset Retirement Obligations

Asset Retirement Obligations	3 Months Ended
	Mar. 31, 2018
Asset Retirement Obligations [Abstract]
Asset Retirement and Reclamation Obligations	10. Asset retirement obligations ("ARO") relate to the Lost Creek mine and Pathfinder projects and are equal to the present value of all estimated future costs required to remediate any environmental disturbances that exist as of the end of the period discounted at a risk-free rate. Included in this liability are the costs of closure, reclamation, demolition and stabilization of the mines, processing plants, infrastructure, aquifer restoration, waste dumps and ongoing post-closure environmental monitoring and maintenance costs. At March 31, 2018, the total undiscounted amount of the future cash needs was estimated to be $26.9 million. The schedule of payments required to settle the ARO liability extends through 2033. The restricted cash as discussed in note 5 is related to the surety bonds which provide security to the governmental agencies on these obligations. For the period ended March 31, 2018 December 31, 2017 $ $ Beginning of period 27,036 26,061 Change in estimated liability - 448 Accretion expense 126 527 End of period 27,162 27,036

Shareholders' Equity and Capita

Shareholders' Equity and Capital Stock	3 Months Ended
	Mar. 31, 2018
Shareholders' Equity and Capital Stock [Abstract]
Shareholders' Equity and Capital Stock	11. Stock options In 2005, the Company’s Board of Directors approved the adoption of the Company's stock option plan (the “Option Plan”). The Option Plan was most recently approved by the shareholders, including certain amendments, on May 18, 2017. Eligible participants under the Option Plan include directors, officers, employees and consultants of the Company. Under the terms of the Option Plan, stock options granted prior to the May 2017 amendment generally vest with Option Plan participants as follows: 10% at the date of grant; 22% four and one-half months after grant; 22% three months after grant; 22% thirteen and one-half months after grant; and the balance of 24% eighteen months after the date of grant. Following the May 2017 amendment of the Option Plan, future grants of options will vest over a three-year period: 33.3% on the first anniversary, 33.3% on the second anniversary, and 33.4% on the third anniversary of the grant. The term of options remains unchanged. Activity with respect to stock options is summarized as follows: Weighted- average Options exercise price # $ Balance, December 31, 2017 9,459,401 0.70 Granted 200,000 0.60 Exercised (67,719) 0.61 Forfeited (119,735) 0.74 Outstanding, March 31, 2018 9,471,947 0.68 The exercise price of a new grant is set at the closing price for the shares on the Toronto Stock Exchange (TSX) on the trading day immediately preceding the grant date so there is no intrinsic value as of the date of grant. The fair value of options vested during the three months ended March 31, 2018 was $0.2 million. As of March 31, 2018, outstanding stock options are as follows: Options outstanding Options exercisable Weighted- Weighted- average average remaining Aggregate remaining Aggregate Exercise Number contractual intrinsic Number contractual intrinsic price of options life (years) value of options life (years) value Expiry $ $ $ 0.60 0.1 - 0.1 - 25-Apr-18 0.96 0.3 - 0.3 - 01-Aug-18 0.93 0.7 - 0.7 - 27-Dec-18 1.30 1.0 - 1.0 - 31-Mar-19 0.79 1.7 - 1.7 - 12-Dec-19 0.88 2.2 - 2.2 - 29-May-20 0.67 2.4 - 2.4 - 17-Aug-20 0.62 2.7 - 2.7 - 11-Dec-20 0.57 3.7 92 3.7 71 16-Dec-21 0.79 3.9 - 3.9 - 02-Mar-22 0.57 4.4 7 - - - 07-Sep-22 0.70 4.7 4.7 15-Dec-22 0.60 5.0 - - - - 30-Mar-23 0.68 3.1 99 2.5 71 The aggregate intrinsic value of the options in the preceding table represents the total pre-tax intrinsic value for stock options with an exercise price less than the Company’s TSX closing stock price of Cdn$0.77 as of the last trading day in the period ended March 31, 2018, that would have been received by the option holders had they exercised their options as of that date. The total number of in-the-money stock options outstanding as of March 31, 2018 was 2,874,875. The total number of in-the-money stock options exercisable as of March 31, 2018 was 2,059,127. We elect to estimate the number of awards expected to vest in lieu of accounting for forfeitures when they occur. Restricted share units On June 24, 2010, the Company’s shareholders approved the adoption of the Company’s restricted share unit plan (the “RSU Plan”). The RSU Plan was approved by our shareholders most recently on May 5, 2016. Eligible participants under the RSU Plan include directors and employees of the Company. RSUs in a grant redeem on the second anniversary of the grant. Upon RSU vesting, the holder of an RSU will receive one common share, for no additional consideration, for each RSU held. Activity with respect to RSUs is summarized as follows: Number Weighted of average grant RSUs date fair value $ Unvested, December 31, 2017 1,175,952 0.65 Vested (80,514) 0.70 Unvested, March 31, 2018 1,095,438 0.63 As of March 31, 2018, outstanding RSUs are as follows: Number of Remaining Aggregate unvested life intrinsic Grant date RSUs (years) value $ December 16, 2016 591,404 0.71 361 December 15, 2017 504,034 1.71 307 1,095,438 1.42 668 As of March 30, 2018, one of our directors retired. Under the terms of our RSU Plan, his 62,000 outstanding RSUs automatically vest. The compensation committee will determine if he will receive stock or cash for the units redeemed in accordance with the redemption dates as set forth in the Plan. Warrants The following represents warrant activity during the period ended March 31, 2018: Number Weighted- of average warrants exercise price $ Outstanding, December 31, 2017 5,844,567 0.94 Outstanding, March 31, 2018 5,844,567 0.94 As of March 31, 2018, outstanding warrants are as follows: Remaining Aggregate Exercise Number contractual Intrinsic price of warrants life (years) Value Expiry $ $ 0.93 0.2 - 24-Jun-18 0.97 0.4 - 27-Aug-18 0.94 0.3 - Share-based compensation expense Share-based compensation expense was $0.4 million for the three months ended March 31, 2018 and $0.3 million for the three months ended March 31, 2017. As of March 31, 2018, there was approximately $0.9 million of total unrecognized compensation expense (net of estimated pre-vesting forfeitures) related to unvested share-based compensation arrangements granted under the Option Plan and $0.6 million under the RSU Plan. The expenses are expected to be recognized over a weighted-average period of 2.3 years and 1.4 years, respectively. Cash received from stock options exercised totaled less than $0.1 million for the three months ended March 31, 2018 and $0.3 million for the three months ended March 31, 2017. Fair value calculations The initial fair value of options and RSUs granted is determined using the Black-Scholes option pricing model for options and the intrinsic pricing model for RSUs. There were no RSUs granted in either the three months ended March 31, 2018 or the three months ended March 31, 2017, nor were there any options granted in the three months ended March 31, 2017. The assumptions used for the options granted during the three months ended March 31, 2018 were as follows: Three months ended March 31, 2018 Expected option life (years) 3.74 Expected volatility 54.59% Risk-free interest rate 1.90% Expected dividend rate 0% Forfeiture rate 6.0% The Company estimates expected volatility using daily historical trading data of the Company’s Common Shares, because this is recognized as a valid method used to predict future volatility. The risk-free interest rates are determined by reference to Canadian Treasury Note constant maturities that approximate the expected option term. The Company has never paid dividends and currently has no plans to do so. Share-based compensation expense is recognized net of estimated pre-vesting forfeitures, which results in recognition of expense on options that are ultimately expected to vest over the expected option term. Forfeitures were estimated using actual historical forfeiture experience.

Sales

Sales	3 Months Ended
	Mar. 31, 2018
Revenue [Abstract]
Sales	12. Sales Sales have been derived from U 3 O 8 being sold to domestic utilities, primarily under term contracts, as well as to a trader through spot sales. Disaggregation of Revenues The following table presents our revenues disaggregated by revenue source and type of revenue for each revenue source Sales consist of: Three months ended March 31, 2018 2017 $ $ Sale of produced inventory Company A 237 - Company B - 3,141 237 3,141 Sales of purchased inventory Company C 15,636 8,537 Company B 3,790 3,141 19,426 11,678 Total sales 19,663 14,819 Disposal fee income 9 9 19,672 14,828 The names of the individual companies have not been disclosed for reasons of confidentiality.

Supplementary Information For S

Supplementary Information For Statement of Cash Flows	3 Months Ended
	Mar. 31, 2018
Supplementary Information For Statement of Cash Flows
Supplementary Information For Statement of Cash Flows	13. Cash per the Statement of Cash Flows consists of the following: As at March 31, 2018 March 31, 2017 $ $ Cash and cash equivalents 9,169 8,393 Restricted cash 7,458 7,557 16,627 15,950

Financial instruments

Financial instruments	3 Months Ended
	Mar. 31, 2018
Financial instruments [Abstract]
Financial instruments	14. The Company’s financial instruments consist of cash and cash equivalents, accounts receivable, restricted cash, deposits, accounts payable and accrued liabilities and notes payable. The Company is exposed to risks related to changes in interest rates and management of cash and cash equivalents and short-term investments. Credit risk Financial instruments that potentially subject the Company to concentrations of credit risk consist of cash and cash equivalents and restricted cash. These assets include Canadian dollar and U.S. dollar denominated certificates of deposits, money market accounts and demand deposits. These instruments are maintained at financial institutions in Canada and the U.S.. Of the amount held on deposit, approximately $0.6 million is covered by the Canada Deposit Insurance Corporation, the Securities Investor Protection Corporation or the U.S. Federal Deposit Insurance Corporation, leaving approximately $16.0 million at risk at March 31, 2018 should the financial institutions with which these amounts are invested be rendered insolvent. The Company does not consider any of its financial assets to be impaired as of March 31, 2018. All of the Company’s customers have Moody’s Baa or greater ratings and purchase from the Company under contracts with set prices and payment terms. Liquidity risk Liquidity risk is the risk that the Company will not be able to meet its financial obligations as they come due. As at March 31, 2018, the Company’s financial liabilities consisted of trade accounts payable and accrued trade and payroll liabilities of $1.5 million which are due within normal trade terms of generally 30 to 60 days and a note payable which will be payable over a period of four years. On May 27, 2016, we entered into an At Market Issuance Sales Agreement with MLV & Co. LLC and B Riley FBR, Inc., as amended August 2017, under which we may, from time to time, issue and sell Common Shares at market prices on the NYSE American or other U.S. market through the distribution agents for aggregate sales proceeds of up to $10,000,000. We have not used the facility in 2018. During 2017, we sold 1,536,169 Common Shares under the sales agreement at an average price of $0.76 per share for gross proceeds of $1.2 million. After deducting transaction fees and commissions we received net proceeds of $1.1 million. We expect that any major capital projects will be funded by operating cash flow, cash on hand or additional financing as required. If these cash sources are not sufficient, certain capital projects could be delayed, or alternatively we may need to pursue additional debt or equity financing to which there is no assurance that such financing will be available at all or on terms acceptable to us. Sensitivity analysis The Company has completed a sensitivity analysis to estimate the impact that a change in interest rates would have on the net loss of the Company. This sensitivity analysis shows that a change of +/- 100 basis points in interest rate would have a negligible effect on either the three months ended March 31, 2018 or the comparable three months in 2017. The financial position of the Company may vary at the time that a change in interest rates occurs causing the impact on the Company’s results to differ from that shown above.

Summary of Significant Accoun21

Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2018
Summary of Significant Accounting Policies [Abstract]
Basis of presentation	Basis of presentation These unaudited interim consolidated financial statements do not conform in all respects to the requirements of United States generally accepted accounting principles (“US GAAP”) for annual financial statements. The unaudited interim financial statements reflect all normal adjustments which in the opinion of management are necessary for a fair statement of the results for the periods presented. These unaudited interim consolidated financial statements should be read in conjunction with the audited annual consolidated financial statements for the year ended December 31, 2016. We apply the same accounting policies as in the prior year other than as noted below. The year-end balance sheet data were derived from the audited financial statements and certain information and footnote disclosures required by US GAAP have been condensed or omitted.
New accounting pronouncements which may affect future reporting	New accounting pronouncements which may affect future reporting In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842) , which requires lessees to recognize all leases on the balance sheet, including operating leases, unless the lease is a short-term lease. ASU 2016-02 also requires additional disclosures regarding leasing arrangements. ASU 2016-02 is effective for interim periods and fiscal years beginning after December 15, 2018. As at March 31, 2018, the Company’s only leases are for vehicles, equipment, and office space in one location. The Casper office and copier leases are the only leases currently remaining in effect as of the date of implementation of the standard. We have gathered the necessary information for proper disclosure of that lease once the ASU is effective. We will continue to monitor any new leases to ensure that we have all the information necessary to handle the transition to the new standard and properly report the transactions. We do not anticipate the new standard will affect our net income materially, but will result in additional fixed assets and the related lease liabilities. New accounting pronouncements which were implemented this year In May 2014, the FASB issued Accounting Standards Update (“ASU”) 2014-09, “ Revenue from Contracts with Customers (Topic 606) .” The amendments in ASU 2014-09 affect any entity that either enters into contracts with customers to transfer goods or services or enters into contracts for the transfer of non-financial assets unless those contracts are within the scope of other standards ( e.g., insurance contracts or lease contracts). This ASU superseded the revenue recognition requirements in Topic 605, Revenue Recognition, and most industry-specific guidance, and creates a Topic 606, Revenue from Contracts with Customers. The core principle of the guidance is that an entity should recognize revenue to depict the transfer of the promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The Company adopted Topic 606 effective January 1, 2018. . The Company purchases and produces U 3 O 8 and recognizes revenue at point of sale so revenue will continue to be recognized at that point under the new standard. The adoption of the new standard had no impact on either our current or prior revenue recognition processes or reporting, which, electing the retrospective basis for implementing the standard, results in no changes to prior financial reporting. In addition, there is no change in our revenue recognition treatment in the current period. Our revenues are primarily derived from the sale of U 3 O 8 under either long-term (delivery in typically two to five years) or spot (immediate delivery) contracts with our customers. The contracts specify the quantity to be delivered, the price or specific calculation method of the price, payment terms and the year(s) of the delivery. There may be some variability in the dates of the delivery or the quantity to be delivered depending on the contract, but those issues are addressed before the delivery date. On the date of the delivery, we receive notice from the storage facility of the transfer of material at which point we invoice the customer and record the sale. We also receive a small amount of revenue from disposal fees. We have contracts with our customers which specify the type and volume of material which can be disposed. Monthly, we invoice those customers based on deliveries of material to the disposal site by the customer. Materials are measured and categorized at the time of delivery and verified by the customer. We recognize the revenue when the invoice is prepared at the end of the month in which the material was received. In January 2016, the FASB issued ASU 2016-1, Recognition and Measurement of Financial Assets and Financial Liabilities (Topic 825) . The amendments in this ASU supersede the guidance to classify equity securities with readily determinable fair values into different categories (that is, trading or available-for-sale) and require equity securities (including other ownership interests, such as partnerships, unincorporated joint ventures, and limited liability companies) to be measured at fair value with changes in the fair value recognized through net income. The amendments allow equity investments that do not have readily determinable fair values to be remeasured at fair value either upon the occurrence of an observable price change or upon identification of an impairment. The amendments also require enhanced disclosures about those investments. The amendments improve financial reporting by providing relevant information about an entity’s equity investments and reducing the number of items that are recognized in other comprehensive income. The Company adopted the amended Topic 825 effective January 1, 2018. The adoption of this guidance had no effect on our financial statements or other financial reporting.

Cash and Cash Equivalents (Tabl

Cash and Cash Equivalents (Tables)	3 Months Ended
	Mar. 31, 2018
Cash and Cash Equivalents [Abstract]
Schedule Of Cash and Cash Equivalents	As at March 31, 2018 December 31, 2017 $ $ Cash on deposit at banks 1,312 1,667 Money market funds 7,857 2,212 9,169 3,879

Inventory (Tables)

Inventory (Tables)	3 Months Ended
	Mar. 31, 2018
Inventory [Abstract]
Schedule of Inventory, Current	As at March 31, 2018 December 31, 2017 $ $ In-process inventory 416 315 Plant inventory 538 369 Conversion facility inventory 6,044 3,831 6,998 4,515

Restricted Cash (Tables)

Restricted Cash (Tables)	3 Months Ended
	Mar. 31, 2018
Restricted Cash [Abstract]
Schedule of Restricted Cash and Cash Equivalents	As at March 31, 2018 December 31, 2017 $ $ Money market account 7,458 7,458 Certificates of deposit - 100 7,458 7,558

Mineral Properties (Tables)

Mineral Properties (Tables)	3 Months Ended
	Mar. 31, 2018
Mineral Properties [Abstract]
Mineral Property	Lost Creek Pathfinder Other U.S. Property Mines Properties Total $ $ $ $ Balance, December 31, 2017 11,810 19,701 13,166 44,677 Acquisition costs - - 14 14 Amortization (435) - - (435) Balance, March 31, 2018 11,375 19,701 13,180 44,256

Capital Assets (Tables)

Capital Assets (Tables)	3 Months Ended
	Mar. 31, 2018
Capital Assets
Capital assets	As of As of March 31, 2018 December 31, 2017 Accumulated Net Book Accumulated Net Book Cost Depreciation Value Cost Depreciation Value $ $ $ $ $ $ Rolling stock 3,431 3,211 220 3,388 3,184 204 Enclosures 32,991 7,292 25,699 32,991 6,880 26,111 Machinery and equipment 1,237 679 558 1,237 663 574 Furniture, fixtures and leasehold improvements 119 106 13 119 104 15 Information technology 1,119 1,071 48 1,120 1,063 57 38,897 12,359 26,538 38,855 11,894 26,961

Accounts Payable and Accrued 27

Accounts Payable and Accrued Liabilities (Tables)	3 Months Ended
	Mar. 31, 2018
Accounts Payable and Accrued Liabilities [Abstract]
Schedule of Accounts Payable and Accrued Liabilities	As at March 31, 2018 December 31, 2017 $ $ Accounts payable 1,088 840 Payroll and other taxes 2,221 1,224 Severance and ad valorem tax payable 1,101 975 4,410 3,039

Notes Payable (Tables)

Notes Payable (Tables)	3 Months Ended
	Mar. 31, 2018
Notes Payable [Abstract]
Schedule of Debt	As at March 31, 2018 December 31, 2017 $ $ Current debt Sweetwater County Loan 4,965 4,895 Less deferred financing costs (121) (121) 4,844 4,774 Long term debt Sweetwater County Loan 13,728 14,996 Less deferred financing costs (304) (334) 13,424 14,662
Schedule Of Outstanding Debt	Debt Total 2018 2019 2020 2021 Maturity $ $ $ $ $ Sweetwater County Loan Principal 18,693 3,697 5,183 5,487 4,326 01-Oct-21 Interest 2,077 753 752 447 125 Total 20,770 4,450 5,935 5,934 4,451

Asset Retirement Obligations (T

Asset Retirement Obligations (Tables)	3 Months Ended
	Mar. 31, 2018
Asset Retirement Obligations [Abstract]
Schedule of Asset Retirement Obligations	For the period ended March 31, 2018 December 31, 2017 $ $ Beginning of period 27,036 26,061 Change in estimated liability - 448 Accretion expense 126 527 End of period 27,162 27,036

Shareholders' Equity and Capi30

Shareholders' Equity and Capital Stock (Tables)	3 Months Ended
	Mar. 31, 2018
Shareholders' Equity and Capital Stock [Abstract]
Schedule of Share-based Compensation, Stock Options, Activity	Weighted- average Options exercise price # $ Balance, December 31, 2017 9,459,401 0.70 Granted 200,000 0.60 Exercised (67,719) 0.61 Forfeited (119,735) 0.74 Outstanding, March 31, 2018 9,471,947 0.68
Schedule of Share-based Compensation, Shares Authorized under Stock Option Plans, by Exercise Price Range	Options outstanding Options exercisable Weighted- Weighted- average average remaining Aggregate remaining Aggregate Exercise Number contractual intrinsic Number contractual intrinsic price of options life (years) value of options life (years) value Expiry $ $ $ 0.60 0.1 - 0.1 - 25-Apr-18 0.96 0.3 - 0.3 - 01-Aug-18 0.93 0.7 - 0.7 - 27-Dec-18 1.30 1.0 - 1.0 - 31-Mar-19 0.79 1.7 - 1.7 - 12-Dec-19 0.88 2.2 - 2.2 - 29-May-20 0.67 2.4 - 2.4 - 17-Aug-20 0.62 2.7 - 2.7 - 11-Dec-20 0.57 3.7 92 3.7 71 16-Dec-21 0.79 3.9 - 3.9 - 02-Mar-22 0.57 4.4 7 - - - 07-Sep-22 0.70 4.7 4.7 15-Dec-22 0.60 5.0 - - - - 30-Mar-23 0.68 3.1 99 2.5 71
Schedule of Share-based Compensation, Restricted Stock Units Award Activity	Number Weighted of average grant RSUs date fair value $ Unvested, December 31, 2017 1,175,952 0.65 Vested (80,514) 0.70 Unvested, March 31, 2018 1,095,438 0.63
Schedule Of Share-Based Compensation, Shares Authorized Under Restricted Stock Units, By Grant Date	Number of Remaining Aggregate unvested life intrinsic Grant date RSUs (years) value $ December 16, 2016 591,404 0.71 361 December 15, 2017 504,034 1.71 307 1,095,438 1.42 668
Schedule Of Share-Based Compensation, Warrants, Activity	Number Weighted- of average warrants exercise price $ Outstanding, December 31, 2017 5,844,567 0.94 Outstanding, March 31, 2018 5,844,567 0.94
Schedule Of Share-based Compensation Shares Authorized Under Warrants Plans by exercise price range	Remaining Aggregate Exercise Number contractual Intrinsic price of warrants life (years) Value Expiry $ $ 0.93 0.2 - 24-Jun-18 0.97 0.4 - 27-Aug-18 0.94 0.3 -
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions	Three months ended March 31, 2018 Expected option life (years) 3.74 Expected volatility 54.59% Risk-free interest rate 1.90% Expected dividend rate 0% Forfeiture rate 6.0%

Sales (Tables)

Sales (Tables)	3 Months Ended
	Mar. 31, 2018
Revenue [Abstract]
Schedule Of Revenue	Three months ended March 31, 2018 2017 $ $ Sale of produced inventory Company A 237 - Company B - 3,141 237 3,141 Sales of purchased inventory Company C 15,636 8,537 Company B 3,790 3,141 19,426 11,678 Total sales 19,663 14,819 Disposal fee income 9 9 19,672 14,828

Supplementary Information For32

Supplementary Information For Statement of Cash Flows (Tables)	3 Months Ended
	Mar. 31, 2018
Supplementary Information For Statement of Cash Flows
Cash per the Statement of Cash Flows	As at March 31, 2018 March 31, 2017 $ $ Cash and cash equivalents 9,169 8,393 Restricted cash 7,458 7,557 16,627 15,950

Nature of Operations (Details)

Nature of Operations (Details)	3 Months Ended
	Mar. 31, 2018
Nature of Operations [Abstract]
Date of incorporation	Mar. 22, 2004

Summary of Significant Accoun34

Summary of Significant Accounting Policies (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017	Mar. 31, 2017
Summary of Significant Accounting Policies [Abstract]
Restricted cash	$ 7,458	$ 7,558	$ 7,557

Cash and Cash Equivalents (Deta

Cash and Cash Equivalents (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017	Mar. 31, 2017
Cash and Cash Equivalents [Abstract]
Cash on deposit at banks	$ 1,312	$ 1,667
Money market funds	7,857	2,212
Cash and cash equivalents	$ 9,169	$ 3,879	$ 8,393

Inventory (Details)

Inventory (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Dec. 31, 2017
Inventory
Inventory, Net, Total	$ 6,998	$ 4,515
Reduction in inventory valuation	98
In Process Inventory [Member]
Inventory
Inventory, Net, Total	416	315
Plant Inventory [Member]
Inventory
Inventory, Net, Total	538	369
Conversion Facility Inventory [Member]
Inventory
Inventory, Net, Total	$ 6,044	$ 3,831

Restricted Cash (Details)

Restricted Cash (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017	Mar. 31, 2017
Restricted Cash
Restricted cash	$ 7,458	$ 7,558	$ 7,557
Surety Bond [Member]
Restricted Cash
Reclamation bonding requirement	27,000
Certificate of deposit [Member]
Restricted Cash
Restricted cash		100
Money Market Funds [Member]
Restricted Cash
Restricted cash	7,458	$ 7,458
Money Market Funds [Member] | Surety Bond [Member]
Restricted Cash
Restricted cash pledged as collateral	$ 7,500

Mineral Properties - rollforwar

Mineral Properties - rollforward (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2018	Dec. 31, 2017
Balance at beginning of period	$ 44,677
Acquisition costs	14
Change in estimated reclamation costs (Note 13)		$ 448
Amortization	(435)
Balance at end of period	44,256	44,677
Lost Creek Property
Balance at beginning of period	11,810
Amortization	(435)
Balance at end of period	11,375	11,810
Path Finder Mines [Member]
Balance at beginning of period	19,701
Balance at end of period	19,701	19,701
Other U.S. Properties [Member]
Balance at beginning of period	13,166
Acquisition costs	14
Balance at end of period	$ 13,180	$ 13,166

Mineral Properties (Details)

Mineral Properties (Details) - USD ($) $ in Millions	1 Months Ended	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2005
Aggregate consideration	$ 6.7
Royalty (as a percent)	5.00%
Estimated asset reclamation obligation	$ 5.7
Nfu Wyoming LLC
Percentage of asset acquired		100.00%
Aggregate consideration		$ 20

Capital Assets (Details)

Capital Assets (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Capital Assets
Cost	$ 38,897	$ 38,855
Accumulated Depreciation	12,359	11,894
Net Book Value	26,538	26,961
Rolling stock [Member]
Capital Assets
Cost	3,431	3,388
Accumulated Depreciation	3,211	3,184
Net Book Value	220	204
Building Enclosures [Member]
Capital Assets
Cost	32,991	32,991
Accumulated Depreciation	7,292	6,880
Net Book Value	25,699	26,111
Machinery and equipment [Member]
Capital Assets
Cost	1,237	1,237
Accumulated Depreciation	679	663
Net Book Value	558	574
Furniture, fixtures and leasehold improvements [Member]
Capital Assets
Cost	119	119
Accumulated Depreciation	106	104
Net Book Value	13	15
Information technology [Member]
Capital Assets
Cost	1,119	1,120
Accumulated Depreciation	1,071	1,063
Net Book Value	$ 48	$ 57

Accounts Payable and Accrued 41

Accounts Payable and Accrued Liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Accounts Payable and Accrued Liabilities [Abstract]
Accounts payable	$ 1,088	$ 840
Severance and ad valorem tax payable	2,221	1,224
Payroll and other taxes	1,101	975
Accounts payable and accrued liabilities	$ 4,410	$ 3,039

Notes Payable - Current vs Long

Notes Payable - Current vs Long-term (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Current debt
Less deferred financing costs	$ (121)	$ (121)
Long-term Debt, Current Maturities, Total	4,844	4,774
Long term debt
Less deferred financing costs	(304)	(334)
Long-term Debt	13,424	14,662
Sweetwater IDR Bond [Member]
Current debt
Current Debt	4,965	4,895
Long term debt
Long term debt	$ 13,728	$ 14,996

Notes Payable - Maturity table

Notes Payable - Maturity table (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2018USD ($)
Notes Payable
Total	$ 20,770
Sweetwater IDR Bond [Member]
Notes Payable
Principal	18,693
Interest	2,077
2,017
Notes Payable
Total	4,450
2017 | Sweetwater IDR Bond [Member]
Notes Payable
Principal	3,697
Interest	753
2,018
Notes Payable
Total	5,935
2018 | Sweetwater IDR Bond [Member]
Notes Payable
Principal	5,183
Interest	752
2,019
Notes Payable
Total	5,934
2019 | Sweetwater IDR Bond [Member]
Notes Payable
Principal	5,487
Interest	447
2,020
Notes Payable
Total	4,451
2020 | Sweetwater IDR Bond [Member]
Notes Payable
Principal	4,326
Interest	$ 125

Notes Payable (Details)

Notes Payable (Details) $ / shares in Units, $ in Thousands	Oct. 15, 2013USD ($)	Mar. 31, 2018USD ($)$ / shares	Oct. 23, 2013item
Notes Payable
Class Of Warrant Or Right, Exercise Price Of Warrants Or Rights | $ / shares		$ 0.94
Sweetwater IDR Bond [Member]
Notes Payable
Proceeds from Issuance of Long-term Debt	$ 34,000
Periodic payment amount		$ 18,693
Due Quarterly Commencing From January 1, 2014 [Member] | Sweetwater IDR Bond [Member]
Notes Payable
Fixed interest rate (as a percent)			5.75%
Due Quarterly Commencing From January 1, 2015 [Member] | Sweetwater IDR Bond [Member]
Notes Payable
Number of installments | item			28

Asset Retirement Obligations (D

Asset Retirement Obligations (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017
Asset Retirement Obligation Rollforward
Estimated Future Cash Undiscounted Amount	$ 26,900
Beginning of year	27,036	$ 26,061	$ 26,061
Change in estimated liability			448
Accretion expense	126	$ 132	527
End of year	$ 27,162		$ 27,036

Shareholders' Equity and Capi46

Shareholders' Equity and Capital Stock - options activity (Details)	3 Months Ended
	Mar. 31, 2018$ / sharesshares
Options Rollforward
Outstanding, Beginning Balance | shares	9,459,401
Granted, Options | shares	200,000
Exercised, Options | shares	(67,719)
Forfeited, Options | shares	(119,735)
Outstanding Ending Balance, Options | shares	9,471,947
Outstanding, Beginning Balance, Weighted-average exercise price	$ 0.70
Granted, Weighted-average exercise price	0.60
Exercised, Weighted-average exercise price	0.61
Forfeited, Weighted-average exercise price	0.74
Outstanding Ending Balance, Weighted-average exercise price	0.68
Grant date intrinsic value	$ 0

Shareholders' Equity and Capi47

Shareholders' Equity and Capital Stock - o/s options (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2018	Dec. 31, 2017
Outstanding Stock Options
Exercise price	$ 0.68	$ 0.70
Number of options, Outstanding	9,471,947	9,459,401
Weighted- average remaining contractual life (years), Outstanding	3 years 1 month 6 days
Aggregate Intrinsic Value, Outstanding	$ 99
Number of options, Exercisable	6,302,049
Weighted- average remaining contractual life (years), Exercisable	2 years 6 months
Aggregate Intrinsic Value, Exercisable	$ 71
Exercise price $0.60
Outstanding Stock Options
Exercise price	$ 0.60
Number of options, Outstanding	452,232
Weighted- average remaining contractual life (years), Outstanding	1 month 6 days
Number of options, Exercisable	452,232
Weighted- average remaining contractual life (years), Exercisable	1 month 6 days
Expiry	Apr. 25, 2018
Exercise price $0.96
Outstanding Stock Options
Exercise price	$ 0.96
Number of options, Outstanding	100,000
Weighted- average remaining contractual life (years), Outstanding	3 months 18 days
Number of options, Exercisable	100,000
Weighted- average remaining contractual life (years), Exercisable	3 months 18 days
Expiry	Aug. 1, 2018
Exercise price $0.93
Outstanding Stock Options
Exercise price	$ 0.93
Number of options, Outstanding	715,236
Weighted- average remaining contractual life (years), Outstanding	8 months 12 days
Number of options, Exercisable	715,236
Weighted- average remaining contractual life (years), Exercisable	8 months 12 days
Expiry	Dec. 27, 2018
Exercise price $1.30
Outstanding Stock Options
Exercise price	$ 1.30
Number of options, Outstanding	100,000
Weighted- average remaining contractual life (years), Outstanding	1 year
Number of options, Exercisable	100,000
Weighted- average remaining contractual life (years), Exercisable	1 year
Expiry	Mar. 31, 2019
Exercise price $0.79
Outstanding Stock Options
Exercise price	$ 0.79
Number of options, Outstanding	754,110
Weighted- average remaining contractual life (years), Outstanding	1 year 8 months 12 days
Number of options, Exercisable	754,110
Weighted- average remaining contractual life (years), Exercisable	1 year 8 months 12 days
Expiry	Dec. 12, 2019
Exercise price $0.88
Outstanding Stock Options
Exercise price	$ 0.88
Number of options, Outstanding	200,000
Weighted- average remaining contractual life (years), Outstanding	2 years 2 months 12 days
Number of options, Exercisable	200,000
Weighted- average remaining contractual life (years), Exercisable	2 years 2 months 12 days
Expiry	May 29, 2020
Exercise price $0.67
Outstanding Stock Options
Exercise price	$ 0.67
Number of options, Outstanding	617,654
Weighted- average remaining contractual life (years), Outstanding	2 years 4 months 24 days
Number of options, Exercisable	617,654
Weighted- average remaining contractual life (years), Exercisable	2 years 4 months 24 days
Expiry	Aug. 17, 2020
Exercise price $0.62
Outstanding Stock Options
Exercise price	$ 0.62
Number of options, Outstanding	1,021,690
Weighted- average remaining contractual life (years), Outstanding	2 years 8 months 12 days
Number of options, Exercisable	1,021,690
Weighted- average remaining contractual life (years), Exercisable	2 years 8 months 12 days
Expiry	Dec. 11, 2020
Exercise price $0.57
Outstanding Stock Options
Exercise price	$ 0.57
Number of options, Outstanding	2,674,875
Weighted- average remaining contractual life (years), Outstanding	3 years 8 months 12 days
Aggregate Intrinsic Value, Outstanding	$ 92
Number of options, Exercisable	2,059,127
Weighted- average remaining contractual life (years), Exercisable	3 years 8 months 12 days
Aggregate Intrinsic Value, Exercisable	$ 71
Expiry	Dec. 16, 2021
Exercise price $0.79
Outstanding Stock Options
Exercise price	$ 0.79
Number of options, Outstanding	300,000
Weighted- average remaining contractual life (years), Outstanding	3 years 10 months 24 days
Number of options, Exercisable	162,000
Weighted- average remaining contractual life (years), Exercisable	3 years 10 months 24 days
Expiry	Mar. 2, 2022
Exercise price $0.57
Outstanding Stock Options
Exercise price	$ 0.57
Number of options, Outstanding	200,000
Weighted- average remaining contractual life (years), Outstanding	4 years 4 months 24 days
Aggregate Intrinsic Value, Outstanding	$ 7
Weighted- average remaining contractual life (years), Exercisable	0 years
Expiry	Sep. 7, 2022
Exercise Price $0.70
Outstanding Stock Options
Exercise price	$ 0.70
Number of options, Outstanding	2,136,150
Weighted- average remaining contractual life (years), Outstanding	4 years 8 months 12 days
Number of options, Exercisable	120,000
Weighted- average remaining contractual life (years), Exercisable	4 years 8 months 12 days
Expiry	Dec. 15, 2022
Exercise Price $0.60
Outstanding Stock Options
Exercise price	$ 0.60
Number of options, Outstanding	200,000
Weighted- average remaining contractual life (years), Outstanding	5 years
Weighted- average remaining contractual life (years), Exercisable	0 years
Expiry	Mar. 30, 2023

Shareholders' Equity and Capi48

Shareholders' Equity and Capital Stock - RSU activity (Details)	3 Months Ended
	Mar. 31, 2018$ / sharesshares
RSU Rollforward
Number of RSUs Unvested, Beginning Balance | shares	1,175,952
Number of RSUs Vested | shares	(80,514)
Number of RSUs Unvested, Ending Balance | shares	1,095,438
Number of RSUs Unvested, Beginning Balance, Weighted average grant date fair value | $ / shares	$ 0.65
Vested, Weighted average grant date fair value | $ / shares	0.70
Number of RSUs Unvested, Ending Balance, Weighted Average Grant Date Fair Value | $ / shares	$ 0.63

Shareholders' Equity and Capi49

Shareholders' Equity and Capital Stock - o/s RSUs (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Dec. 31, 2017
RSUs
Number of unvested units	1,095,438	1,175,952
Remaining life (years)	1 year 5 months 1 day
Aggregate Intrinsic Value	$ 668
August 17, 2015 [Member]
RSUs
Number of unvested units	591,404
Remaining life (years)	8 months 16 days
Aggregate Intrinsic Value	$ 361
December 11, 2015 [Member]
RSUs
Number of unvested units	504,034
Remaining life (years)	1 year 8 months 16 days
Aggregate Intrinsic Value	$ 307

Shareholders' Equity and Capi50

Shareholders' Equity and Capital Stock - o/s warrants (Details)	3 Months Ended
	Mar. 31, 2018$ / sharesshares
Class of Warrant or Right
Exercise price | $ / shares	$ 0.94
Number of warrants | shares	5,844,567
$0.91 [Member]
Class of Warrant or Right
Exercise price | $ / shares	$ 0.93
Number of warrants | shares	4,294,167
Remaining contractual life (years)	2 months 12 days
Expiry	Jun. 24, 2018
$0.95 [Member]
Class of Warrant or Right
Exercise price | $ / shares	$ 0.97
Number of warrants | shares	1,550,400
Remaining contractual life (years)	4 months 24 days
Expiry	Aug. 27, 2018
$1.04 [Member]
Class of Warrant or Right
Exercise price | $ / shares	$ 0.94
Number of warrants | shares	5,844,567
Remaining contractual life (years)	3 months 18 days

Shareholders' Equity and Capi51

Shareholders' Equity and Capital Stock - addl information (Details) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2018USD ($)shares	Mar. 30, 2018shares	Mar. 31, 2017USD ($)shares	Mar. 31, 2016shares	Mar. 31, 2018$ / shares	Mar. 31, 2018USD ($)$ / sharesshares	Dec. 31, 2017shares
Stockholder's Equity Note [Line Items]
Share-Based Compensation Arrangement By Share-Based Payment Award, Options, Outstanding, Intrinsic Value | $						$ 99
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period	67,719
Stock Issued During Period, Shares, New Issues	1,536,169
Share Price | (per share)					$ 0.77	$ 0.76
Payments Of Stock Issuance Costs | $			$ 43
Number of RSUs Vested	80,514
Percent or RSUs that vest	80,514
Share-Based Compensation Arrangement By Share-Based Payment Award, Options, Outstanding, Number						9,471,947	9,459,401
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Number						6,302,049
Stock based compensation | $	$ 330		287
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested in Period, Fair Value | $	200
Proceeds from Stock Options Exercised | $	$ 42		$ 349
Granted, Options	200,000
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ / shares						$ 0.94
Capital Stock
Stockholder's Equity Note [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period	67,719,000
In Money Stock Option [Member]
Stockholder's Equity Note [Line Items]
Share-Based Compensation Arrangement By Share-Based Payment Award, Options, Outstanding, Number						2,874,875
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Number						2,059,127
Employee Service Share-based Compensation, Nonvested Awards, Total Compensation Cost Not yet Recognized, Stock Options | $						$ 900
Employee Service Share-based Compensation, Nonvested Awards, Total Compensation Cost Not yet Recognized, Period for Recognition	2 years 3 months 18 days
Restricted Stock Units (RSUs) [Member]
Stockholder's Equity Note [Line Items]
Number of RSUs Vested		62,000
Percent or RSUs that vest		62,000
Employee Service Share-based Compensation, Nonvested Awards, Total Compensation Cost Not yet Recognized, Share-based Awards Other than Options | $						$ 600
Employee Service Share-based Compensation, Nonvested Awards, Total Compensation Cost Not yet Recognized, Period for Recognition	1 year 4 months 24 days
Granted, Options			0	0
Restricted Stock Units (RSUs) [Member] | Capital Stock
Stockholder's Equity Note [Line Items]
Number of securities called by each unit						1
Employee Stock Option [Member]
Stockholder's Equity Note [Line Items]
Granted, Options			0	0
Grant Date [Member] | Employee Stock Option [Member]
Stockholder's Equity Note [Line Items]
Share-Based Compensation Arrangement By Share-Based Payment Award, Award Vesting Percentage	10.00%
Four and One Half Months After Grant [Member] | Restricted Stock Units (RSUs) [Member]
Stockholder's Equity Note [Line Items]
Stock Option Vesting Period	4 months 15 days
Four and One Half Months After Grant [Member] | Employee Stock Option [Member]
Stockholder's Equity Note [Line Items]
Share-Based Compensation Arrangement By Share-Based Payment Award, Award Vesting Percentage	22.00%
Nine Months After Grant [Member] | Employee Stock Option [Member]
Stockholder's Equity Note [Line Items]
Share-Based Compensation Arrangement By Share-Based Payment Award, Award Vesting Percentage	22.00%
Thirteen and One Half Months After Grant [Member] | Restricted Stock Units (RSUs) [Member]
Stockholder's Equity Note [Line Items]
Stock Option Vesting Period	13 months 15 days
Thirteen and One Half Months After Grant [Member] | Employee Stock Option [Member]
Stockholder's Equity Note [Line Items]
Share-Based Compensation Arrangement By Share-Based Payment Award, Award Vesting Percentage	22.00%
Eighteen Months After Date Of Grant [Member] | Employee Stock Option [Member]
Stockholder's Equity Note [Line Items]
Share-Based Compensation Arrangement By Share-Based Payment Award, Award Vesting Percentage	24.00%
First Anniversary [Member]
Stockholder's Equity Note [Line Items]
Share-Based Compensation Arrangement By Share-Based Payment Award, Award Vesting Percentage	33.30%
First Anniversary [Member] | Employee Stock Option [Member]
Stockholder's Equity Note [Line Items]
Stock Option Vesting Period	3 years
Second Anniversary [Member]
Stockholder's Equity Note [Line Items]
Share-Based Compensation Arrangement By Share-Based Payment Award, Award Vesting Percentage	33.30%
Third Anniversary (Member)
Stockholder's Equity Note [Line Items]
Share-Based Compensation Arrangement By Share-Based Payment Award, Award Vesting Percentage	33.40%

Shareholders' Equity and Capi52

Shareholders' Equity and Capital Stock - assumptions (Details)	3 Months Ended
	Mar. 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected volatility	54.59%
Expected dividend rate	0.00%
Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected award life (in years)	3 years 8 months 27 days
Risk-free interest rate	1.90%
Forfeiture rate (options)	6.00%

Sales (Details)

Sales (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Sales
Revenue, Net, Total	$ 19,672	$ 14,828
Disposal fee income	9	9
Sales Revenue, Goods, Net [Member]
Sales
Sales Revenue, Goods, Net	237	3,141
Sale Of Purchased Inventory [Member]
Sales
Sales Revenue, Goods, Net	19,426	11,678
Company B [Member]
Sales
Sales Revenue, Goods, Net		3,141
Company B [Member] | Sale Of Purchased Inventory [Member]
Sales
Sales Revenue, Goods, Net	3,790	3,141
Company C [Member] | Sale Of Purchased Inventory [Member]
Sales
Sales Revenue, Goods, Net	15,636	8,537
Company E [Member] | Sales Revenue, Goods, Net [Member]
Sales
Sales Revenue, Goods, Net	237
Company A, B, C, D [Member]
Sales
Sales Revenue, Goods, Net	$ 19,663	$ 14,819
Customer Concentration Risk [Member]
Sales
Concentration Risk, Percentage	100.00%	100.00%
Disposal Fees Concentration Risk Percentage	0.00%	0.00%
Customer Concentration Risk [Member] | Sales Revenue, Goods, Net [Member]
Sales
Concentration Risk, Percentage	1.20%	21.20%
Customer Concentration Risk [Member] | Sale Of Purchased Inventory [Member]
Sales
Concentration Risk, Percentage	98.80%	78.80%
Customer Concentration Risk [Member] | Company B [Member]
Sales
Concentration Risk, Percentage	0.00%	21.20%
Customer Concentration Risk [Member] | Company B [Member] | Sale Of Purchased Inventory [Member]
Sales
Concentration Risk, Percentage	19.30%	21.20%
Customer Concentration Risk [Member] | Company C [Member] | Sale Of Purchased Inventory [Member]
Sales
Concentration Risk, Percentage	79.50%	57.60%
Customer Concentration Risk [Member] | Company E [Member] | Sales Revenue, Goods, Net [Member]
Sales
Concentration Risk, Percentage	1.20%	0.00%
Customer Concentration Risk [Member] | Company A, B, C, D [Member]
Sales
Concentration Risk, Percentage	100.00%	100.00%

Supplementary Information For54

Supplementary Information For Statement of Cash Flows (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017	Mar. 31, 2017	Dec. 31, 2015
Supplementary Information For Statement of Cash Flows
Cash and cash equivalents	$ 9,169	$ 3,879	$ 8,393
Restricted cash	7,458	7,558	7,557
Total	$ 16,627	$ 11,437	$ 15,950	$ 9,109

Financial instruments (Details)

Financial instruments (Details) - 3 months ended Mar. 31, 2018	USD ($)itemshares	$ / shares	USD ($)$ / shares
Financial Instruments
Cash, insured amount			$ 600,000
Accounts Payable, Trade, Current			$ 1,500,000
Sales agreement maximum sales proceeds of stock issuance and sales	$ 10,000,000
Common shares issued for cash, net of issue costs (in shares) | shares	1,536,169
Share Price | (per share)		$ 0.77	$ 0.76
Proceeds from shares issued	$ 1,100,000
Sensitivity Analysis Of Fair Value Of Interests Continued To Be Held By Transferor Servicing Assets Or Liabilities Change In Basis Points | item	100
Credit Concentration Risk
Financial Instruments
Cash, uninsured amount			$ 16,000,000
Minimum
Financial Instruments
Financial Liabilities Trade Terms Period	30 days
Minimum | Credit Availability Concentration Risk
Financial Instruments
Debt Instrument, Term	4 years
Maximum
Financial Instruments
Financial Liabilities Trade Terms Period	60 days