Energy Fuels (UUUU) 10-Q 31 Oct 24 2024 Q3 Quarterly report Financial data

Cover

Cover - shares	9 Months Ended
	Sep. 30, 2024	Oct. 28, 2024
Entity Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2024
Document Transition Report	false
Entity File Number	001-36204
Entity Registrant Name	ENERGY FUELS INC.
Entity Incorporation, State or Country Code	Z4
Entity Tax Identification Number	98-1067994
Entity Address, Address Line One	225 Union Blvd., Suite 600
Entity Address, City or Town	Lakewood,
Entity Address, State or Province	CO
Entity Address, Postal Zip Code	80228
City Area Code	303
Local Phone Number	974-2140
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding (in shares)		196,602,660
Amendment Flag	false
Entity Central Index Key	0001385849
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q3
NEW YORK STOCK EXCHANGE, INC. [Member]
Entity Information [Line Items]
Title of 12(b) Security	Common Shares, no par value
Trading Symbol	UUUU
Security Exchange Name	NYSEAMER
TORONTO STOCK EXCHANGE [Member]
Entity Information [Line Items]
Title of 12(b) Security	Common shares, no par value

Consolidated Statements of Oper

Consolidated Statements of Operations and Comprehensive Income (Loss) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Revenues
Uranium concentrates	$ 4,000	$ 10,473	$ 37,904	$ 33,278
Vanadium concentrates	0	0	0	871
RE Carbonate	0	288	0	2,559
Alternate Feed Materials, processing and other	47	226	288	755
Total revenues	4,047	10,987	38,192	37,463
Costs applicable to uranium concentrates	1,847	5,266	16,580	15,318
Costs applicable to vanadium concentrates	0	0	0	551
Costs applicable to RE Carbonate	0	282	0	2,312
Total costs applicable to revenues	1,847	5,548	16,580	18,181
Other operating costs and expenses
Exploration, development and processing	3,619	2,516	8,911	9,432
Standby	1,645	2,281	4,641	6,175
Accretion of asset retirement obligations	327	282	916	902
Selling, general and administration	7,060	7,304	21,333	20,784
Transactions and integration related costs	1,462	0	4,747	0
Total operating loss	(11,913)	(6,944)	(18,936)	(18,011)
Gain on sale of assets	8	0	10	119,257
Other income (loss) (Note 13)	(174)	17,413	4,066	18,603
Other income	(166)	17,413	4,076	137,860
Comprehensive income (loss)	(12,079)	10,469	(14,860)	119,849
Net income (loss) and comprehensive income (loss)	$ (12,079)	$ 10,469	$ (14,860)	$ 119,849
Basic loss per share (in dollars per share)	$ (0.07)	$ 0.07	$ (0.09)	$ 0.76
Diluted loss per share (in dollars per share)	$ (0.07)	$ 0.07	$ (0.09)	$ 0.75
Net income (loss) and comprehensive income (loss) attributable to:
Owners of the Company	$ (12,060)	$ 10,563	$ (14,839)	$ 119,968
Non-controlling interests	(19)	(94)	(21)	(119)
Net income (loss) and comprehensive income (loss)	$ (12,079)	$ 10,469	$ (14,860)	$ 119,849

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023	Sep. 30, 2023
Current assets
Cash and cash equivalents	$ 47,455	$ 57,445
Marketable securities (Notes 4 and 15)	101,154	133,044
Trade and other receivables, net of allowance for credit losses of $223 and $223, as of September 30, 2024 and December 31, 2023, respectively	4,914	816
Inventories (Note 5)	35,910	38,868
Prepaid expenses and other current assets	4,490	2,522
Total current assets	193,923	232,695
Mineral properties, net (Note 6)	124,856	119,581
Property, plant and equipment, net (Note 6)	43,548	26,123
Inventories (Note 5)	0	1,852
Operating lease right of use asset	1,079	1,219
Investments (Note 7)	12,130	1,356
Intellectual property (Note 3)	4,821	0
Other long-term receivables	763	1,534
Restricted cash (Note 8)	19,284	17,579
Total assets	400,404	401,939
Current liabilities
Accounts payable and accrued liabilities (Note 13)	8,213	10,161
Contingent consideration (Note 3)	1,727		$ 0
Deferred revenue	600		0
Operating lease liability	228	199
Total current liabilities	10,768	10,360
Operating lease liability	946	1,120
Asset retirement obligations (Note 8)	12,003	10,922
Deferred revenue	0	332
Total liabilities	23,717	22,734
Equity
Share capital Common shares, without par value, unlimited shares authorized; shares issued and outstanding 164,678,756 and 162,659,155 as of September 30, 2024 and December 31, 2023, respectively	745,792	733,450
Accumulated deficit	(371,097)	(356,258)
Accumulated other comprehensive loss	(1,946)	(1,946)
Total shareholders' equity	372,749	375,246
Non-controlling interests	3,938	3,959
Total equity	376,687	379,205	$ 383,328
Total liabilities and equity	400,404	401,939
Commitments and contingencies (Note 14)

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Accounts Receivable, Allowance for Credit Loss, Current	$ 223	$ 223
Common stock, shares, issued (in shares)	164,678,756	162,659,155
Common stock, shares, outstanding (in shares)	164,678,756	162,659,155

Consolidated Statements of Chan

Consolidated Statements of Changes in Equity - USD ($) $ in Thousands	Total	Common Stock	Common Stock Stock Appreciation Rights (SARs)	Accumulated Earnings (Deficit)	Accumulated Other Comprehensive Income (Loss)	Total Shareholders' Equity	Non-Controlling Interests
Beginning balance ( in shares) at Dec. 31, 2022		157,682,531
Beginning balance at Dec. 31, 2022	$ 244,409	$ 698,493		$ (456,120)	$ (1,946)	$ 240,427	$ 3,982
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss) and comprehensive income (loss)	114,264			114,265		114,265	(1)
Share-based compensation	1,186	$ 1,186				1,186
Shares issued for exercise of stock appreciation rights (in shares)		34,219
Shares issued for exercise of stock options	(72)	$ (72)				(72)
Shares issued for exercise of stock appreciation rights (in shares)		312,662
Cash paid to fund employee income tax withholding due upon vesting of restricted stock units	918	$ 918				918
Ending balance (in shares) at Mar. 31, 2023		158,029,412
Ending balance at Mar. 31, 2023	359,013	$ 698,833		(341,855)	(1,946)	355,032	3,981
Beginning balance ( in shares) at Dec. 31, 2022		157,682,531
Beginning balance at Dec. 31, 2022	244,409	$ 698,493		(456,120)	(1,946)	240,427	3,982
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss) and comprehensive income (loss)	119,849
Ending balance (in shares) at Sep. 30, 2023		160,463,370
Ending balance at Sep. 30, 2023	383,328	$ 717,564		(336,153)	(1,946)	379,465	3,863
Beginning balance ( in shares) at Mar. 31, 2023		158,029,412
Beginning balance at Mar. 31, 2023	359,013	$ 698,833		(341,855)	(1,946)	355,032	3,981
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss) and comprehensive income (loss)	(4,885)			(4,861)		(4,861)	(24)
Share-based compensation	1,554	$ 1,554				1,554
Shares issued for exercise of stock appreciation rights (in shares)		45,126
Shares issued for exercise of stock options	(312)	$ (312)				(312)
Shares issued for exercise of stock appreciation rights (in shares)		164,258
Cash paid to fund employee income tax withholding due upon vesting of restricted stock units	848	$ 848				848
Ending balance (in shares) at Jun. 30, 2023		158,238,796
Ending balance at Jun. 30, 2023	355,146	$ 699,851		(346,716)	(1,946)	351,189	3,957
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss) and comprehensive income (loss)	10,469			10,563			(94)
Shares Issued For Cash By At The Market Offering Shares		2,048,172
Shares issued for cash by at-the-market offering	16,416	$ 16,416				16,416
Share issuance cost	369	369				369
Share-based compensation	1,293	$ 1,293				1,293
Shares issued for exercise of stock appreciation rights (in shares)		100,522
Shares issued for exercise of stock options	(247)	$ (247)				(247)
Shares issued for consulting services (in shares)		70,336
Shares issued for consulting services	126	$ 126				126
Shares issued for exercise of stock appreciation rights (in shares)		5,544
Ending balance (in shares) at Sep. 30, 2023		160,463,370
Ending balance at Sep. 30, 2023	383,328	$ 717,564		(336,153)	(1,946)	379,465	3,863
Beginning balance ( in shares) at Dec. 31, 2023		162,659,155
Beginning balance at Dec. 31, 2023	379,205	$ 733,450		(356,258)	(1,946)	375,246	3,959
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss) and comprehensive income (loss)	3,638			3,639		3,639	(1)
Shares Issued For Cash By At The Market Offering Shares		619,910
Shares issued for cash by at-the-market offering	4,898	$ 4,898				4,898
Share issuance cost	110	110				110
Share-based compensation	1,345	$ 1,345				1,345
Shares issued for exercise of stock appreciation rights (in shares)		29,116	89,794
Cash paid to settle and fund employee income tax withholding due upon exercise of stock appreciation rights	(552)	$ (552)				(552)
Shares issued for exercise of stock options	(103)	$ (103)				(103)
Shares issued for the vesting of restricted stock units (in shares)		253,922
Cash paid to fund employee income tax withholding due upon vesting of restricted stock units	837	$ 837				837
Ending balance (in shares) at Mar. 31, 2024		163,651,897
Ending balance at Mar. 31, 2024	387,690	$ 738,297		(352,619)	(1,946)	383,732	3,958
Beginning balance ( in shares) at Dec. 31, 2023		162,659,155
Beginning balance at Dec. 31, 2023	379,205	$ 733,450		(356,258)	(1,946)	375,246	3,959
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss) and comprehensive income (loss)	(14,860)
Ending balance (in shares) at Sep. 30, 2024		164,678,756
Ending balance at Sep. 30, 2024	376,687	$ 745,792		(371,097)	(1,946)	372,749	3,938
Beginning balance ( in shares) at Mar. 31, 2024		163,651,897
Beginning balance at Mar. 31, 2024	387,690	$ 738,297		(352,619)	(1,946)	383,732	3,958
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss) and comprehensive income (loss)	(6,419)			(6,418)		(6,418)	(1)
Share-based compensation	1,412	$ 1,412				1,412
Shares issued for exercise of stock appreciation rights (in shares)		9,214
Shares issued for exercise of stock options	(53)	$ (53)				(53)
Ending balance (in shares) at Jun. 30, 2024		163,661,111
Ending balance at Jun. 30, 2024	382,736	$ 739,762		(359,037)	(1,946)	378,779	3,957
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss) and comprehensive income (loss)	(12,079)			(12,060)		(12,060)	(19)
Share-based compensation	1,027	$ 1,027				1,027
Shares issued for exercise of stock appreciation rights (in shares)		9,474
Shares issued for exercise of stock options	(3)	$ (3)				(3)
Shares issued for acquisition of intangible assets (in shares)		321,197
Shares issued for acquisition of intangible assets	1,500	$ 1,500				1,500
Shares issued for joint venture interests (shares)		686,974
Shares issued for joint venture interests	3,500	$ 3,500				3,500
Ending balance (in shares) at Sep. 30, 2024		164,678,756
Ending balance at Sep. 30, 2024	$ 376,687	$ 745,792		$ (371,097)	$ (1,946)	$ 372,749	$ 3,938

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Net income (loss)	$ (14,860)	$ 119,849
Adjustments to reconcile net income (loss) to net cash used in operating activities:
Depletion, depreciation and amortization	1,999	2,024
Share-based compensation	3,784	4,033
Accretion of asset retirement obligations	916	902
Unrealized foreign exchange (gain) loss	331	(85)
Unrealized gain on investments	0	(6,701)
Realized gain on marketable securities	0	(6,972)
Realized gain on marketable securities	1,704	0
Gain on sale of assets	(10)	(119,257)
Other, net	(30)	(682)
Changes in current assets and liabilities:
Marketable securities	1,346	(875)
Inventories	6,782	10,807
Trade and other receivables	(3,384)	(10,570)
Prepaid expenses and other current assets	(1,948)	(1,526)
Accounts payable and accrued liabilities	(1,210)	(1,929)
Net cash used in operating activities	(7,988)	(10,982)
INVESTING ACTIVITIES
Additions to property, plant and equipment	(20,684)	(8,908)
Additions to mineral properties	(6,220)	(26,892)
Purchase of intangible assets	(1,639)	0
Purchases of marketable securities	(184,284)	(98,896)
Maturities of marketable securities	216,533	41,931
Purchase of investments	(7,306)	0
Proceeds from sale of assets	10	56,873
Proceeds from convertible note redemption	0	20,000
Net cash used in investing activities	(3,590)	(15,892)
FINANCING ACTIVITIES
Issuance of common shares for cash, net of issuance costs	4,788	16,047
Cash received from exercise of stock options	159	757
Net cash provided by financing activities	3,558	15,038
Effect of exchange rate fluctuations on cash held in foreign currencies	(265)	33
Plus: release of restricted cash related to sale of assets	0	3,590
Net change in cash, cash equivalents and restricted cash	(8,285)	(8,213)
Cash, cash equivalents and restricted cash, beginning of period	75,024	80,269
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, END OF PERIOD	66,739	72,056
Supplemental disclosure of cash flow information:
Cash paid during the period for interest	141	13
Increase (decrease) in accounts payable and accrued liabilities for property, plant and equipment and mineral properties	(464)	697
Non-cash investing and financing transactions:
Shares issued for joint venture interests	3,500	0
Shares issued for acquisition of intangible assets	1,500	0
Contingent consideration for acquisition of intangible assets	1,690	0
Acquisition of convertible note	0	59,259
Restricted Stock Units (RSUs)
FINANCING ACTIVITIES
Cash paid to fund employee income tax withholding due upon vesting of restricted stock units	(837)	(918)
Stock Appreciation Rights (SARs)
FINANCING ACTIVITIES
Cash paid to fund employee income tax withholding due upon vesting of restricted stock units	$ (552)	$ (848)

THE COMPANY AND DESCRIPTION OF

THE COMPANY AND DESCRIPTION OF BUSINESS	9 Months Ended
	Sep. 30, 2024
Accounting Policies [Abstract]
The Company and Description of Business	THE COMPANY AND DESCRIPTION OF BUSINESS Energy Fuels Inc. was incorporated under the laws of the Province of Alberta and was continued under the Business Corporations Act (Ontario). Energy Fuels Inc. and its subsidiary companies (collectively the “ Company ” or “ Energy Fuels ”) are together engaged in conventional and in situ recovery (“ ISR ”) uranium extraction, recovery and sales of uranium from mineral properties and the recycling of uranium-bearing materials generated by third parties, along with the exploration, permitting and evaluation of uranium properties in the United States (the “ U.S. ”). As a part of these activities, the Company also acquires, explores, evaluates and, if warranted, permits uranium properties. The Company’s final uranium product, uranium oxide concentrate (“ U 3 O 8 ” or “ uranium concentrate ”), also known as “yellowcake,” is sold to customers for further processing into fuel for nuclear reactors. The Company also produces vanadium pentoxide (“ V 2 O 5 ”) as a co-product of uranium at the White Mesa Mill (the “ White Mesa Mill ” or the “ Mill ”), from certain of its Colorado Plateau properties and at times from solutions in its Mill tailings impoundment system, each as market conditions warrant. The Mill has produced rare earth elements (“ REE ”) carbonate (“ RE Carbonate ”) from various uranium- and REE-bearing materials acquired from third parties since 2021 and completed modifications and enhancements to its existing infrastructure for the production of separated REE products, producing separated neodymium/praseodymium (“ NdPr ”) in 2024. The Company owns the Bahia Project in Brazil, which is an exploration/permitting stage property for the potential production of heavy mineral sands (“ HMS ”) that would be sold into the commercial HMS market while the associated monazite would be used as a feedstock ore for production of REEs and uranium at the Mill. On October 2, 2024, the Company acquired Base Resources Limited (“ Base ” or “ Base Resources ”) increasing its portfolio of other HMS/monazite/REE projects around the world (see Note 18 – Subsequent Events). Additionally, the Company is evaluating the potential to recover radioisotopes from its existing uranium process streams at the Mill for use in targeted alpha therapy (“ TAT ”) therapeutics for the treatment of cancer with RadTran LLC (“ RadTra n”) (See Note 3 – Transactions). With its uranium, vanadium, REE, HMS and potential radioisotope production, the Mill is working to establish itself as a critical minerals hub in the U.S. Energy Fuels produces both uranium and REEs. Uranium is the fuel for carbon-free, emission-free baseload nuclear power – one of the cleanest forms of energy in the world; REEs are used to manufacture permanent magnets for electric vehicles (“ EVs ”), wind turbines and other clean energy and modern technologies. Concurrently, the Company’s recycling program (which includes processing Alternate Feed Materials, recycling tailings solutions and performing other activities for the recovery of uranium, vanadium and potentially other metals and radionuclides) works to reduce the levels of new production and natural disturbances needed to meet global energy demand by recycling feed sources that would have otherwise been lost to direct disposal and extracting additional valuable minerals from them. Through its uranium and REE production and long-standing recycling program, Energy Fuels works to help address global climate change by producing materials that ultimately reduce reliance on carbon dioxide (“ CO 2 ”) emitters, such as fossil fuels, while also ensuring that materials already extracted but only partially utilized are instead used to the fullest extent practicable so as to limit the global mining footprint and reduce the number of constituents ultimately disposed of. Additionally, certain radioisotopes, which the Company is evaluating for recovery from its uranium processing streams, have the potential to provide the isotopes needed for emerging TAT cancer-fighting therapeutics. As of September 30, 2024, the Company is a “production stage issuer” as defined by S-K 1300, as it is engaged in the material extraction of mineral reserves on at least one material property. Mining Activities The Company’s mining activities consist of the Mill, multiple conventional mining projects and an ISR mining project (complete with an ISR recovery facility on standby). The conventional mining projects are located on the Colorado Plateau, including the Pinyon Plain, Whirlwind, La Sal, Bullfrog, Arizona Strip and Roca Honda Projects, all of which are in the vicinity of the Mill, as well as the Sheep Mountain Project located in Wyoming and the Bahia Project (defined in Note 6 – Property, Plant and Equipment and Mineral Properties) located in Brazil. The Company’s Nichols Ranch Project (including the Jane Dough and Hank Satellite deposits) is an ISR project located in Wyoming. As of September 30, 2024, the Company continued ore production at its Pinyon Plain, La Sal and Pandora Projects, as well as exploration drilling and analysis at its Nichols Ranch and Bahia Projects. Other conventional mining projects in the vicinity of the Mill, as well as the Sheep Mountain Project, are on standby and are being evaluated for continued mining and other activities and/or are in the process of being permitted. The Mill continues to receive third-party uranium-bearing mineralized materials from mining and other industry activities for its own processing and recycling, while also expanding its REE initiatives and pursuing its TAT cancer-fighting therapeutics initiatives. On October 2, 2024, the Company acquired the Kwale HMS Project in Kenya and the Toliara HMS Project in Madagascar as part of its acquisition of Base Resources on October 2, 2024. See Note 18 – Subsequent Events.

BASIS OF PRESENTATION

BASIS OF PRESENTATION	9 Months Ended
	Sep. 30, 2024
Accounting Policies [Abstract]
Basis of Presentation	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation These unaudited condensed consolidated financial statements included herein have been prepared by the Company pursuant to the rules and regulations of the U.S. Securities and Exchange Commission (“ SEC ”) applicable to interim financial information and should be read in conjunction with the consolidated financial statements and notes thereto and the summary of significant accounting policies included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2023, which was filed with the SEC on February 23, 2024, as amended June 28, 2024. These unaudited condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States (“ U.S. GAAP ”) for interim financial information, and, accordingly, do not include all of the information and footnotes required by U.S. GAAP for complete consolidated financial statements. These unaudited condensed consolidated financial statements are presented in thousands of U.S. dollars, except for share and per share amounts. Certain information and note disclosures normally included in financial statements prepared in accordance with U.S. GAAP have been condensed or omitted pursuant to such rules and regulations, although the Company believes that the disclosures included are adequate to make the information presented not misleading. In management’s opinion, these unaudited condensed consolidated financial statements reflect all adjustments, consisting solely of normal recurring items, which are necessary for the fair presentation of the Company’s financial position, results of operations and cash flows on a basis consistent with that of the Company’s audited consolidated financial statements for the year ended December 31, 2023. However, the results of operations for the interim periods may not be indicative of results to be expected for the full fiscal year. Principles of Consolidation These unaudited condensed consolidated financial statements include the accounts of the Company and its subsidiaries. All intercompany accounts and transactions have been eliminated. The Company reports operating and financial results in a single segment based on the consolidated information used by the chief operating decision maker (“ CODM ”), who is the Company's Chief Executive Officer, in evaluating the financial performance of our business and allocating resources. This single segment reflects the Company's core business: the production of uranium and critical minerals. As the Company has one reportable segment, net income, total assets and working capital are equal to consolidated results. The CODM primarily uses operating expenses to manage operations. Recently Adopted Accounting Standard In November 2023, the FASB issued Accounting Standard Update (“ ASU ”) 2023-07, “Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures.” This ASU requires annual and interim disclosures about significant segment expenses that are regularly provided to the CODM and included within each reported measure of segment profit or loss as well as the amount and composition of other segment items. The Company adopted this standard prospectively on January 1, 2024, which did not have a material impact on the Company's unaudited condensed consolidated financial statements.

TRANSACTIONS

TRANSACTIONS	9 Months Ended
	Sep. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Transactions	TRANSACTIONS Joint Venture with Astron on the Donald Project On June 3, 2024, the Company executed binding agreements (collectively, the “ JV Agreements ”) with Astron Corporation Limited (“ Astron ”) for the creation of a joint venture (the “ Donald Project JV ”) to jointly develop and operate the Donald Rare Earth and Mineral Sands Project in Australia (the “ Donald Project ”). The Donald Project is a well-known HMS and rare earth deposit that the Company believes could provide it with another near-term, low-cost, and large-scale source of monazite sand that would be transported to the Mill for the recovery of separated REE products along with the contained uranium. The Donald Project has most licenses and permits in place (or at an advanced stage of completion). The JV Agreement provides Energy Fuels the right to invest up to AUS$183 million (approximately $127 million at September 30, 2024 exchange rates) to earn up to a 49% interest in the Donald Project JV, of which approximately $10.6 million is expected to be invested in 2024 in preparation of a final investment decision (“ FID ”), and, if a positive FID is made, the remainder would be invested to develop the project and to earn into the full 49% interest in the Donald Project JV. In addition, the Company would issue Energy Fuels common shares (“ Common Shares ”) to Astron having a value of up to $17.5 million, of which $3.5 million of Common Shares were issued September 24, 2024 upon the satisfaction of certain conditions precedent (the “ Completion Issuance ”) and the remainder would be issued upon a positive FID. On September 25, 2024, the Donald Project JV was established and the Company earned an initial 3.21% interest in the Donald Project in exchange for the Completion Issuance and for funds invested in the Donald Project to that date. Astron, through its subsidiary Dickson & Johnson Pty Ltd, holds the remaining 96.79% interest. The Company evaluated whether the Donald Project JV is a variable interest entity (“ VIE ”). Variable interests can be contractual, ownership or other pecuniary interests in an entity that change with changes in the fair value of the VIE’s assets. Based on its qualitative and quantitative contractual rights under the JV Agreements, Energy Fuels has a variable interest in the Donald Project JV. Additionally, the Company has determined that it does not have a controlling financial interest in the Donald Project JV because it does not have: (i) the power to direct the activities of the VIE that most significantly impact the VIE’s economic performance, and (ii) the obligation to absorb losses that could potentially be significant to the VIE or the right to receive benefits that could potentially be significant to the VIE as its ownership is less than 10% of the Donald Project JV. As of June 3, 2024, the Company had elected to account for the Donald Project JV as an investment without a readily determinable fair value at cost less impairment, and this investment is included in Investments on its unaudited Condensed Consolidated Balance Sheet. Upon Completion Issuance, the Company elected to account for the Donald Project JV as an equity method investment because the Company earned an initial 3.21% interest in the Donald Project and it exercises significant influence, but not control, over the entity. This investment is included in Investments on the Company's unaudited Condensed Consolidated Balance Sheet. The Company’s maximum exposure to loss on the Donald Project JV was $9.31 million as of September 30, 2024. Changes in the design or nature of the activities of the Donald Project JV, or the Company’s involvement with the Donald Project JV, may require the Company to reconsider its conclusions on the entity’s status as a VIE and/or whether the Company is not the primary beneficiary. Acquisition of RadTran On August 16, 2024, the Company acquired RadTran, a private company specializing in the separation of critical radioisotopes, to further the Company’s plans for development and production of medical isotopes used in cancer treatments. RadTran’s expertise includes separation of radium-226 (“ Ra-226 ”) and radium-228 (“ Ra-228 ”) from uranium and thorium process streams. This acquisition is expected to significantly enhance Energy Fuels’ planned capabilities to address the global shortage of these essential isotopes used in emerging TATs for cancer treatment. Since July 2021, Energy Fuels and RadTran have been working under a Strategic Alliance Agreement to evaluate the feasibility of recovering Ra-226 and Ra-228 from existing uranium process streams at the Mill. Recovered Ra-226 and Ra-228 would be made available to the pharmaceutical industry and others to enable the production of actinium-225 (“ Ac-225 ”), lead-212 (“ Pb-212 ”) and potentially other leading medically attractive TAT isotopes. These isotopes are critical components in the development of targeted alpha therapies, which offer promising new treatments for various cancers. The global shortage of Ra-226 and Ra-228 currently presents itself as a significant barrier to the advancement and commercialization of these therapies. Energy Fuels received regulatory approval and licensing in 2023 for the concentration of research and development (“ R&D ”) quantities of Ra-226 at the Mill and is currently completing engineering on its R&D pilot facility for Ra-226 production. Under the Acquisition, the purchase price paid by Energy Fuels to the owners of RadTran consisted of (all dollar amounts in US$): (i) on closing, $1.50 million in cash, $1.50 million in Common Shares and the grant of a 2% royalty on future revenues from the sale of produced radium, as well as certain other contractual commitments; and up to an additional $14.00 million total in cash and Common Shares based on the satisfaction of a number of performance-based milestones, including (i) $1.00 million in cash and $1.00 million in Common Shares upon achieving initial production; (ii) $1.00 million in cash and $1.00 million in Common Shares upon securing suitable offtake agreements to justify commercial production; and (iii) $10.00 million in cash upon reaching commercial production. As of September 30, 2024, the Company believes it is probable it will achieve the milestone related to achieving initial production. In accordance with Accounting Standards Codification Topic 805, Business Combinations (“ ASC 805 ”), the Company has accounted for the acquisition of RadTran as an asset acquisition as substantially all of the fair value of the assets acquired was concentrated in a group of similar identifiable assets. The purchase consideration includes cash paid at closing, common shares issued at closing, the fair value contingent consideration related to achieving initial production (see Note 15 – Fair Value), plus transaction costs, which was allocated to the acquired intellectual property. The contingent consideration is classified as a liability at its estimated fair value at each reporting period with subsequent revaluations recognized as an adjustment to the Intellectual property and Contingent consideration on the unaudited condensed combined Balance Sheet with a cumulative amortization adjustment. The total purchase consideration as of August 16, 2024 was $4.83 million calculated as follows: Cash $ 1,500 Issuance of Common Shares 1,500 Fair value of contingent consideration 1,690 Direct transaction costs 139 Total purchase consideration $ 4,829 Intellectual property is amortized on a straight-line basis over a weighted average life of 13.5 years. The following is a summary of intellectual property, net: Intellectual property, as of August 16, 2024 $ 4,829 Increase in fair value of contingent consideration 37 Amortization (45) Intellectual property, as of September 30, 2024 $ 4,821

MARKETABLE SECURITIES

MARKETABLE SECURITIES	9 Months Ended
	Sep. 30, 2024
Cash and Cash Equivalents [Abstract]
Marketable Securities	MARKETABLE SECURITIES The Company has elected the fair value option for its marketable debt securities and records these instruments on the Condensed Consolidated Balance Sheet at their fair value including interest income. Changes in fair value and interest income are recorded in Other income in the Condensed Consolidated Statements of Operations and Comprehensive Income. The fair value option was elected for these marketable debt securities, as the Company may sell them prior to their stated maturities after consideration of the Company’s risk versus reward objectives, as well as its liquidity requirements. The stated contractual maturity dates of marketable debt securities held as of September 30, 2024 and December 31, 2023 are due in one to two years. Marketable equity securities are measured at fair value as of each reporting date, and realized and unrealized gains (losses) and interest income are recorded in Other income in the Condensed Consolidated Statements of Operations and Comprehensive Income (Loss). The following table summarizes our marketable securities by significant investment categories: Cost Basis Gross Unrealized Losses Gross Unrealized Gains Fair Value September 30, 2024 Marketable debt securities (1) $ 76,247 $ — $ 1,086 $ 77,333 Marketable equity securities 28,159 (4,338) — 23,821 Total marketable securities $ 104,406 $ (4,338) $ 1,086 $ 101,154 December 31, 2023 Marketable debt securities (1) $ 106,791 $ — $ 675 $ 107,466 Marketable equity securities 28,159 (2,581) — 25,578 Total marketable securities $ 134,950 $ (2,581) $ 675 $ 133,044 (1) Marketable debt securities are comprised primarily of U.S. Treasury Bills and Government Agency Bonds.

INVENTORIES

INVENTORIES	9 Months Ended
	Sep. 30, 2024
Inventory Disclosure [Abstract]
Inventories	INVENTORIES Inventories consisted of the following items: September 30, 2024 December 31, 2023 Concentrates and work-in-progress $ 15,095 $ 35,807 Inventory of ore in stockpiles 15,895 3,072 Raw materials and consumables 4,920 1,841 Total inventories $ 35,910 $ 40,720

PLANT AND EQUIPMENT AND MINERAL

PLANT AND EQUIPMENT AND MINERAL PROPERTIES	9 Months Ended
	Sep. 30, 2024
Property, Plant and Equipment [Abstract]
Plant and Equipment and Mineral Properties	PROPERTY, PLANT AND EQUIPMENT AND MINERAL PROPERTIES Property, Plant and Equipment The following is a summary of property, plant and equipment, net: Estimated Useful Lives September 30, 2024 December 31, 2023 Land N/A $ 642 $ 642 Plant facilities 12 - 15 years 50,451 29,750 Mining equipment 5 - 10 years 21,471 13,019 Light trucks and utility vehicles 5 years 3,905 3,256 Office furniture and equipment 4 - 7 years 1,909 1,754 Construction-in-progress (1) N/A 4,203 13,627 Total property, plant and equipment $ 82,581 $ 62,048 Less: accumulated depreciation (39,033) (35,925) Property, plant and equipment, net $ 43,548 $ 26,123 (1) Costs incurred for commissioning activities for the Company ’ s Phase 1 REE separation circuit at the Mill are capitalized. The Company will offset these costs upon sale of separated neodymium-praseodymium ( “ NdPr ” ) that is produced during commissioning of the Phase 1 REE separation circuit. The Company recognized depreciation expense of $0.66 million and $0.69 million for the three months ended September 30, 2024 and 2023, respectively, and $1.95 million and $2.02 million for the nine months ended September 30, 2024, and 2023, respectively. Depreciation expense is included in Exploration, development and processing as well as Standby in the Condensed Consolidated Statements of Operations and Comprehensive Income (Loss). For the three months ended September 30, 2024 and 2023, the Company capitalized $0.46 million and $0.09 million of depreciation expense to inventory related to the Mill and production activities on the Condensed Consolidated Balance Sheets, respectively. For the nine months ended September 30, 2024 and 2023, the Company capitalized $0.94 million and $0.24 million, respectively, of depreciation expense to inventory related to the Mill on the Condensed Consolidated Balance Sheets. For the three months ended September 30, 2023, the Company capitalized $0.06 million of depreciation expense to mineral properties on the Condensed Consolidated Balance Sheet. No depreciation expense was capitalized to mineral properties for the three months ended September 30, 2024. For the nine months ended September 30, 2024 and 2023, the Company capitalized $0.23 million and $0.13 million, respectively, of depreciation expense to mineral properties on the Condensed Consolidated Balance Sheet. Mineral Properties The following is a summary of mineral properties: September 30, 2024 December 31, 2023 Sheep Mountain $ 34,183 $ 34,183 Bahia Project 32,613 29,130 Nichols Ranch ISR Project 25,974 25,974 Roca Honda 22,095 22,095 Pinyon Plain 9,338 6,512 Other 1,687 1,687 Total mineral properties $ 125,890 $ 119,581 Less: accumulated depletion $ (1,034) $ — Mineral properties, net $ 124,856 $ 119,581 Capitalized costs to mineral properties are depleted using the units-of-production method (“ UOP ”) over the estimated life of the ore body based on estimated recoverable material to be produced from proven and probable reserves. The calculation of the UOP rate of depletion could be materially impacted to the extent that actual production in the future is different from current forecasts of production based on proven and probable reserves. This would generally occur to the extent that there were significant changes in any of the factors or assumptions used in determining reserves. These changes could include: (i) an expansion of proven and probable reserves through exploration activity; (ii) differences between estimated and actual costs of production, due to differences in grade, recovery rates and foreign currency exchange rates; and (iii) differences between actual commodity prices and commodity price assumptions used in the estimation of reserves. If reserves decreased significantly, UOP depletion charged to operations would increase; conversely, if reserves increased significantly, UOP depletion charged to operations would decrease. Such changes in reserves could similarly impact the useful lives of assets depreciated on a straight-line basis, where those lives are limited to the life of the mine, which in turn is limited to the life of proven and probable reserves. The expected useful lives used in depletion, depreciation and amortization calculations are determined based on the applicable facts and circumstances, as described above. As judgement is involved in the determination of useful lives, no assurance can be given that actual useful lives will not differ significantly from the useful lives assumed for the purpose of depletion, depreciation and amortization calculations. Bahia Project On February 10, 2023, the Company closed on two purchase agreements to acquire a total of 17 mineral concessions in the State of Bahia, Brazil totaling approximately 37,300 acres or 58.3 square miles (the “ Bahia Project ”). Under the terms of the purchase agreements, the Company entered into mineral rights transfer agreements with the sellers to acquire the 17 heavy mineral sands concessions. The total purchase price under the purchase agreements was $27.50 million, which consisted of deposit payments of $5.90 million due upon reaching certain stipulated milestones and the remaining $21.60 million due at closing. Upon final payment on February 10, 2023, the transfer and assignment of the mineral rights was completed (the “ Bahia Closing ”). Additionally, the Company incurred direct deal costs related to such asset acquisitions of $1.63 million. The Bahia Closing followed the Brazilian Government ’ s approval of the transfers to Energy Fuels ’ wholly owned Brazilian subsidiary Energy Fuels Brazil Ltda. Alta Mesa Transaction On February 14, 2023, the Company closed on its sale to enCore Energy Corp. (“ enCore ”) of three wholly-owned subsidiaries that together held Alta Mesa for total consideration of $120 million (the “ Alta Mesa Transaction ”), paid as follows: a. $60 million in cash, which included $6 million prior to closing and $54 million at closing; and b. a $60 million secured convertible note (“ Convertible Note ”), payable in two years from the closing, bearing annual interest of eight percent (8%). The Convertible Note is convertible at Energy Fuels’ election into fully paid and non-assessable enCore common shares at a conversion price of $2.9103 per share, being a 20% premium to the 10-day volume-weighted average price of enCore shares ending the day before the Closing (the “ Conversion Option ”). enCore is currently traded on the TSX-V and NYSE American. The Convertible Note is guaranteed by enCore and fully secured by Alta Mesa. Unless a block trade or similar distribution is executed by Energy Fuels to sell the enCore common shares received on conversion of the Convertible Note, Energy Fuels will be limited to selling a maximum of $10 million of enCore common shares per thirty (30)-day period. The Company recognized a gain on sale of assets from the Alta Mesa Transaction of $116.50 million, which was calculated as the total fair value of the consideration received of $119.46 million consisting of $60 million in cash and the Convertible Note with a fair value of $59.46 million, less the net book value attributable to the Alta Mesa assets and liabilities after working capital adjustments of $3.40 million, net of transaction costs. Receipt of the Convertible Note represents a non-cash investing activity at its initial fair value. See Note 15 – Fair Value Accounting for more information on the fair value and current status of the Convertible Note. As a post-closing condition of the Alta Mesa Transaction, enCore was required to replace the $3.59 million of reclamation bonds then in place for Alta Mesa. Upon replacement, the original bonds were released and the Company received back the underlying collateral. The Company reclassified $3.59 million cash as a release of collateral from those bonds from Property, plant and equipment and other assets held for sale, net to cash and cash equivalents on its Condensed Consolidated Balance Sheets. In connection with the Alta Mesa Transaction, on May 3, 2023, the Company completed the sale of its Prompt Fission Neutron assets, including the underlying contracts, technology, licenses and intellectual property (collectively, the “ PFN Assets ”), to enCore in exchange for cash consideration received at closing of $3.10 million, which resulted in a gain of $2.75 million. At closing, the PFN Assets, which the Company had purchased in 2020 for cash consideration of $0.50 million, had a net book value of $0.35 million. The PFN Assets were used exclusively at the Alta Mesa ISR Project. Should the Company have the need for the use of a PFN tool in the future, the Company retained a 20-year usage right as a condition of this sale during which, subject to the availability of the PFN Assets, the Company has the right to purchase, lease and/or license at least one fully functional PFN tool and all related and/or required equipment, technology and licenses, as reasonably requested, on commercially reasonable terms and conditions no less favorable than those offered by enCore to third parties. As of September 30, 2024, the Company has not purchased, leased and/or licensed a PFN tool.

INVESTMENTS

INVESTMENTS	9 Months Ended
	Sep. 30, 2024
Equity Method Investments and Joint Ventures [Abstract]
INVESTMENTS	INVESTMENTS The Company’s investments include its equity method investment in the Donald Project JV and investments without readily determinable fair values. The following table is a reconciliation of the Company's investments: September 30, December 31, Equity method investment $ 9,306 $ — Investments without readily determinable fair values 2,824 1,356 Total investments $ 12,130 $ 1,356

ASSET RETIREMENT OBLIGATIONS AN

ASSET RETIREMENT OBLIGATIONS AND RESTRICTED CASH	9 Months Ended
	Sep. 30, 2024
Asset Retirement Obligation Disclosure [Abstract]
Asset Retirement Obligations and Restricted Cash	ASSET RETIREMENT OBLIGATIONS AND RESTRICTED CASH Asset Retirement Obligations The following table summarizes the Company’s asset retirement obligations: Asset retirement obligations, December 31, 2023 $ 10,922 Revision of estimate 165 Accretion of liabilities 916 Asset retirement obligations, September 30, 2024 $ 12,003 The Company’s asset retirement obligations are subject to legal and regulatory requirements. Estimates of the costs of reclamation are reviewed periodically by the Company and the applicable regulatory authorities. The upward revision of the estimate of $0.17 million for the nine months ended September 30, 2024 includes net changes in estimated costs of future reclamation activities. These revisions were recognized in Property, plant and equipment, net on the Consolidated Balance Sheet and will be depreciated over the useful life of the related asset. Restricted Cash The Company has cash, cash equivalents and fixed income securities as collateral for various bonds posted in favor of the applicable state regulatory agencies in Arizona, Colorado, New Mexico, Utah and Wyoming, and the U.S. Bureau of Land Management and U.S. Forest Service for estimated reclamation costs associated with the White Mesa Mill, Nichols Ranch and other mining properties. The restricted cash will be released when the Company has reclaimed a mineral property, sold a mineral property to a party having assumed the applicable bond requirements, or restructured the surety and collateral arrangements. See Note 14 – Commitments and Contingencies for more information. The following table summarizes the Company’s restricted cash: Restricted cash, December 31, 2023 $ 17,579 Additional collateral posted 1,705 Restricted cash, September 30, 2024 $ 19,284

CAPITAL STOCK

CAPITAL STOCK	9 Months Ended
	Sep. 30, 2024
Stockholders' Equity Note [Abstract]
Capital Stock	CAPITAL STOCK Authorized Capital Stock The Company is authorized to issue an unlimited number of Common Shares without par value, unlimited Preferred Shares issuable in series and unlimited Series A Preferred Shares. The Preferred Shares issuable in series will have the rights, privileges, restrictions and conditions assigned to the particular series upon the Board of Directors approving their issuance. The Series A Preferred Shares issuable are non-redeemable, non-callable, non-voting and have no right to dividends. Issued Capital Stock During the nine months ended September 30, 2024, the Company issued 0.62 million Common Shares under its at-the-market (the “ ATM ”) public offering program for net proceeds of $4.78 million after share issuance costs. No Common Shares were issued pursuant to the ATM during the three months ended September 30, 2024. During the three and nine months ended September 30, 2023, the Company issued 2.05 million Common Shares for net proceeds of $16.05 million pursuant to the ATM.

BASIC AND DILUTED INCOME (LOSS)

BASIC AND DILUTED INCOME (LOSS) PER COMMON SHARE	9 Months Ended
	Sep. 30, 2024
Earnings Per Share [Abstract]
Basic and Diluted Loss Per Common Share	BASIC AND DILUTED NET INCOME (LOSS) PER COMMON SHARE Basic and diluted net income (loss) per Common Share The calculation of basic net income (loss) per common share and diluted net income (loss) per common share after adjustment for the effects of all potential dilutive Common Shares is as follows: Three Months Ended Nine Months Ended 2024 2023 2024 2023 Net income (loss) attributable to owners of the Company $ (12,060) $ 10,563 $ (14,839) $ 119,968 Basic weighted average common shares outstanding 163,882,537 158,616,883 163,650,699 158,235,301 Dilutive impact of stock options and restricted stock units — 1,167,832 — 1,217,624 Diluted weighted average common shares outstanding 163,882,537 159,784,715 163,650,699 159,452,925 Basic net income (loss) per common share $ (0.07) $ 0.07 $ (0.09) $ 0.76 Diluted net income (loss) per common share $ (0.07) $ 0.07 $ (0.09) $ 0.75 For the three months ended September 30, 2024 and 2023, a weighted average of 1.71 million and 0.78 million, respectively, stock options and restricted stock units (“ RSUs ”) have been excluded from the calculation of diluted net income per common share, as their effect would have been anti-dilutive. For the nine months ended September 30, 2024 and 2023 a weighted average of 1.61 million and 0.01 million respectively, stock options and RSUs have been excluded from the calculation of diluted net income per common share, as their effect would have been anti-dilutive. In addition, the Company excluded stock appreciation rights (“ SARs ”) of 1.02 million and 2.17 million, respectively, for the three months ended September 30, 2024 and 2023, as well as 1.02 million and 2.24 million, respectively, for the nine months ended September 30, 2024 and 2023 as they are contingently issuable based on specified market prices of the Company’s Common Shares, which were not achieved as of the end of each period.

SHARE-BASED PAYMENTS

SHARE-BASED PAYMENTS	9 Months Ended
	Sep. 30, 2024
Share-Based Payment Arrangement [Abstract]
Share-Based Payments	SHARE-BASED COMPENSATION The Company maintains an equity incentive plan, known as the 2024 Amended and Restated Omnibus Equity Incentive Compensation Plan (as most recently amended and approved by the Company’s Board of Directors on May 24, 2024 and ratified by the Company’s shareholders at its Annual General and Special Meeting of Shareholders held on June 11, 2024) (the “ Compensation Plan ”), for directors, executives, eligible employees and consultants. Existing equity incentive awards include employee non-qualified stock options, RSUs and SARs. The Company issues new Common Shares to satisfy exercises and vesting under its equity incentive awards. Under the Compensation Plan, full value awards mean any award other than employee non-qualified stock options, SARs or similar awards, the value of which non-qualified stock options, SARs or similar award is based solely on an increase in the value of the Common shares over the grant price, option price or similar exercise price applicable to such award (“ Full Value Awards ”). The number of Common Shares reserved for issuance to participants under the Compensation Plan shall not exceed 10,000,000 (the “ Total Share Authorization ”). In addition to being subject to the Total Share Authorization limit, the aggregate number of Shares that may be issued under all Full Value Awards shall not exceed 7,500,000 (the “ Full Value Share Authorization ”). As of September 30, 2024, the total Common Shares authorized for future equity incentive plan awards was 7,230,770 Common Shares under the Total Share Authorization and 6,825,193 Common Shares under the Full Value Share Authorization. The Company’s share-based compensation expense, by type of award, is as follows: Three Months Ended Nine Months Ended 2024 2023 2024 2023 RSUs (1) $ 636 $ 523 $ 2,218 $ 2,329 SARs 4 653 268 1,393 Stock options 387 117 1,298 311 Total share-based compensation expense (2) $ 1,027 $ 1,293 $ 3,784 $ 4,033 (1) The fair value of the RSUs granted under the Compensation Plan for the three and nine months ended September 30, 2024 and 2023 was estimated at the date of grant using the stated market price on the NYSE American. (2) Share-based compensation is included in Selling, general and administration in the Condensed Consolidated Statements of Operations and Comprehensive Income. As of September 30, 2024, there were $1.57 million, $0.03 million and $0.94 million of unrecognized compensation costs related to the unvested RSUs, SARs, and stock options, respectively. This expense is expected to be recognized over a weighted average period of 2.08 years, 0.28 years and 1.35 years, respectively. Restricted Stock Units The Company grants RSUs to directors, executives and eligible employees. Awards for executives and eligible employees are determined as a target percentage of base salary and generally vest over three years. Holders of unvested RSUs do not have voting rights on those RSUs. The RSUs are subject to forfeiture risk and other restrictions. Upon vesting, the employee is entitled to receive one Common Share of the Company for each RSU at no additional payment. A summary of the Company’s unvested RSU activity is as follows: Number of Shares Weighted Average Grant Date Fair Value Unvested, December 31, 2023 641,839 $ 6.57 Granted 406,035 7.25 Vested (373,067) 6.20 Forfeited — — Unvested, September 30, 2024 674,807 $ 7.19 The total fair value of RSUs that vested and were settled for equity was $2.72 million for the nine months ended September 30, 2024. Stock Appreciation Rights The Company has granted SARs to executives and eligible employees from time-to-time. Most recently, on January 26, 2023, the Company’s Board of Directors issued SARs under the Compensation Plan, which are intended to provide additional long-term equity incentives for the Company’s senior management. Each SAR granted vests on the satisfaction of certain performance goals, and once vested, entitles the holder to receive, upon a valid exercise, payment from the Company in cash or Common Shares (at the sole discretion of the Company) in an amount representing the difference between the fair market value (“ FMV ”) of the Company’s Common Shares on the date of exercise and grant price. Fair Market Value as used herein means the closing price of the Common Shares on the TSX or the NYSE American on the last trading day immediately prior to the date of exercise. A summary of the Company’s SARs activity is as follows: Number of Shares Weighted Average Weighted Average Remaining Contractual Life (Years) Intrinsic Value Outstanding, December 31, 2023 1,839,528 $ 5.01 Granted — — Exercised (250,036) 2.92 Forfeited (3,152) 7.36 Expired (569,595) 2.94 Outstanding, September 30, 2024 1,016,745 $ 6.67 2.55 $ — Exercisable, September 30, 2024 — $ — — $ — A summary of the Company’s unvested SARs activity is as follows: Number of Shares Weighted Average Grant Date Fair Value Unvested, December 31, 2023 1,589,492 $ 2.89 Granted — — Vested — — Expired (569,595) 1.22 Forfeited (3,152) 3.45 Unvested, September 30, 2024 1,016,745 $ 3.83 Employee Stock Options The Company, under the Compensation Plan, may grant stock options to directors, executives, employees and consultants to purchase Common Shares of the Company. The exercise price of the stock options is set as the higher of the Company’s closing share price on the NYSE American on the last trading day before the date of grant and the five-day VWAP on the NYSE American ending on the last trading day before the grant date. Stock options granted under the Compensation Plan generally vest over a period of two years or more and are generally exercisable over a period of five years from the grant date, such period not to exceed 10 years. In January 2024, the Company granted stock options to its executives and certain other high-level employees stock options intended to incentivize senior management to achieve the Company’s strategic long-term goals over the specified terms of the grants, based on significant common share price growth objectives, and to reward management for achieving those growth objectives. The grant entitles the recipients to purchase one Common Share of the Company at an exercise price of $8.23 per share (the “ Performance-Based Options ”), being a 10% premium to the higher of (i) the VWAP of the Common Shares of the Company on the NYSE American for the five trading days ending on the last trading day prior to the date of the meeting when granted, and (ii) the closing price of the common shares of the Company on the NYSE American on the last trading day prior to the date of such meeting, which, as of January 24, 2024, was $7.48. The Performance-Based Options vest as to 50% on January 25, 2025 and as to the remaining 50% on January 25, 2026. The term of the Performance-Based Options is five years, ending on January 24, 2029. The fair value of all stock options, including Performance Based Options, granted under the Compensation Plan for the nine months ended September 30, 2024 was estimated at the date of grant, using the Black-Scholes Option Valuation Model, with the following weighted average assumptions: Risk-free interest rate 4.67 % Expected life 3.09 Expected volatility (1) 68.82 % Expected dividend yield — % Weighted average grant date fair value $ 3.44 (1) Expected volatility is measured based on the Company’s historical share price volatility over a period equivalent to the expected life of the stock options. A summary of all of the Company’s stock option activity, including Performance Based Options, is as follows: Range of Exercise Prices Number of Shares Weighted Average Weighted Average Remaining Contractual Life (Years) Intrinsic Value Outstanding, December 31, 2023 $1.76 - $8.60 523,468 $ 4.48 Granted 5.09 - 8.23 626,437 7.55 Exercised 1.76 - 6.47 (47,804) 3.32 Forfeited 6.12 - 8.23 (30,012) 7.35 Expired 2.92 - 7.36 (5,885) 6.57 Outstanding, September 30, 2024 $1.76 - $8.60 1,066,204 $ 6.25 3.15 $ 751 Exercisable, September 30, 2024 $1.76 - $8.41 399,742 $ 4.08 1.39 $ 739 A summary of the Company’s unvested stock option activity is as follows: Number of Shares Weighted Average Grant Date Fair Value Unvested, December 31, 2023 169,182 $ 4.11 Granted 626,437 3.44 Vested (99,145) 4.32 Forfeited (30,012) 3.67 Unvested, September 30, 2024 666,462 $ 3.47

INCOME TAXES

INCOME TAXES	9 Months Ended
	Sep. 30, 2024
Income Tax Disclosure [Abstract]
Income Taxes	INCOME TAXES As of September 30, 2024, the Company maintained a full valuation allowance against its net deferred tax assets. The Company continually reviews the adequacy of the valuation allowance and intends to continue maintaining a full valuation allowance on its net deferred tax assets until there is sufficient evidence to support the reversal of all or a portion of the allowance. Should the Company’s assessment change in a future period, it may release all or a portion of the valuation allowance, which would result in a deferred tax benefit in the period of adjustment. For the three and nine months ended September 30, 2024, the Company did not record income tax benefit on loss before tax of $12.08 million and $14.86 million, respectively. For the three and nine months ended September 30, 2023, the Company did not record income tax expense on income before tax of $10.47 million and $119.85 million, respectively. The effective tax rate was 0% for the three and nine months ended September 30, 2024 and 2023, which was a result of the full valuation allowance on net deferred tax assets.

SUPPLEMENTAL FINANCIAL INFORMAT

SUPPLEMENTAL FINANCIAL INFORMATION	9 Months Ended
	Sep. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Supplemental Financial Information	SUPPLEMENTAL FINANCIAL INFORMATION The components of other income (loss) are as follows: Three Months Ended Nine Months Ended 2024 2023 2024 2023 Unrealized gain on investments $ — $ 8,890 $ — $ 6,701 Unrealized gain (loss) on marketable securities (2,330) 540 (1,346) 875 Realized gain on maturities of marketable securities 843 374 1,704 588 Unrealized gain on convertible note — 7,223 — 6,972 Realized gain on convertible note — 181 — 181 Foreign exchange gain (loss) 22 (239) (331) 80 Interest income, net and other 1,291 444 4,039 3,206 Other income $ (174) $ 17,413 $ 4,066 $ 18,603 The components of trade and other receivables are as follows: September 30, 2024 December 31, 2023 Trade receivables $ 4,345 $ 406 Notes receivable, net 343 343 Other 226 67 Total receivables $ 4,914 $ 816 The components of accounts payable and accrued liabilities are as follows: September 30, 2024 December 31, 2023 Accounts payable $ 3,706 $ 1,006 Accrued operating expenses 1,022 4,391 Accrued payroll liabilities 3,078 4,162 Accrued capital expenditures 12 205 Accrued taxes 395 393 Other accrued liabilities — 4 Accounts payable and accrued liabilities $ 8,213 $ 10,161

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	9 Months Ended
	Sep. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	COMMITMENTS AND CONTINGENCIES General Legal Matters Other than routine litigation incidental to our business, or as described below, the Company is not currently a party to any material pending legal proceedings that management believes would be likely to have a material adverse effect on our financial position, results of operations or cash flows. White Mesa Mill In 2011, the Ute Mountain Ute Tribe filed an administrative appeal of the State of Utah Division of Air Quality’s (“ UDAQ ”) decision to approve a Modification to the Air Quality Approval Order at the Mill. Then, in 2013, the Ute Mountain Ute Tribe filed a Petition to Intervene and Request for Agency Action challenging the Corrective Action Plan approved by the State of Utah Department of Environmental Quality (“ UDEQ ”) relating to nitrate contamination in the shallow aquifer at the Mill. In August 2014, the Ute Mountain Ute Tribe filed an administrative appeal to the State of Utah Division of Radiation Control’s (“ DRC ”) Radioactive Materials License Amendment 7 approval regarding alternate feed material from Dawn Mining. The challenges remain open at this time and may involve the appointment of an administrative law judge (“ ALJ ”) to hear the matters. The Company does not consider these actions to have any merit. If the petitions are successful, the likely outcome would be a requirement to modify or replace the existing Air Quality Approval Order, Corrective Action Plan or license amendment, as applicable. At this time, the Company does not believe any such modifications or replacements would materially affect its financial position, results of operations or cash flows. However, the scope and costs of remediation under a revised or replaced Air Quality Approval Order, Corrective Action Plan and/or license amendment have not yet been determined and could be significant. The UDEQ renewed in January 2018, then reissued with minor corrections in February 2018, the Mill’s radioactive materials license (the “ Mill License ”) for another ten years and the Groundwater Discharge Permit (the “ GWDP ”) for another five years, after which further applications for renewal of the Mill License and GWDP are required to be submitted. During the review period for each application for renewal, the Mill can continue to operate under its existing Mill License and GWDP until such time as the renewed Mill License or GWDP is issued. Most recently, on July 15, 2022, the routine GWDP renewal application was submitted to UDEQ, which remains under consideration at this time. In 2018, the Grand Canyon Trust, Ute Mountain Ute Tribe and Uranium Watch (collectively, the “ Mill Plaintiffs ”) served Petitions for Review challenging UDEQ’s renewal of the Mill License and GWDP and Requests for Appointment of an ALJ, which they later agreed to suspend pursuant to a Stipulation and Agreement with UDEQ, effective June 4, 2018. The Company and the Mill Plaintiffs held multiple discussions over the course of 2018 and 2019 in an effort to settle the dispute outside of any judicial proceeding. In February 2019, the Mill Plaintiffs submitted to the Company their proposal for reaching a settlement agreement. The proposal remains under consideration by the Company. The Company does not consider these challenges to have any merit and, if a settlement cannot be reached, the Company intends to participate with UDEQ in defending against the challenges. If the challenges are successful, the likely outcome would be a requirement to modify the renewed Mill License and/or GWDP. At this time, the Company does not believe that any such modification would materially affect its financial position, results of operations or cash flows. On August 26, 2021, the Ute Mountain Ute Tribe filed a Petition to Intervene and Petition for Review challenging the UDEQ’s approval of Amendment No. 10 to the Mill License, which expanded the list of Alternate Feed Materials that the Mill is authorized to accept and process for its source material content. Then, on November 18, 2021, the Tribe filed its Request for Appointment of an ALJ, followed shortly thereafter by a stay on the request in accordance with a Stipulation and Agreement between the Tribe, UDEQ and Company. Thereafter, discussions between the Company and the Tribe commenced in an effort to resolve the dispute and other outstanding matters without formal adjudication. However, the Company does not consider this action to have any merit. If resolution is not achieved, the stay is lifted and the petition is successful before an ALJ, the likely outcome would be a requirement to modify or revoke the Mill License amendment. At this time, the Company does not believe any such modification or revocation would materially affect its financial position, results of operations or cash flows. Mineral Property Commitments The Company enters into commitments with federal and state agencies and private individuals to lease mineral rights. These leases are renewable annually, and, as reported in the Company’s Form 10-K for the year ended December 31, 2023, renewal costs for the remainder of 2024 are expected to total approximately $0.23 million. Surety Bonds The Company has indemnified third-party companies to provide surety bonds as collateral for the Company’s asset retirement obligations (“ AROs ”). The Company is obligated to replace this collateral in the event of a default and is obligated to repay any reclamation or closure costs due. As of September 30, 2024, the Company has $19.28 million posted as collateral against undiscounted AROs of $33.71 million. As of December 31, 2023, the Company has $17.58 million posted as collateral against undiscounted AROs of $33.38 million. The Company will be liable to pay any reclamation expense that exceeds the amount of the collateral posted against the surety bonds. Commitments The Company is contractually obligated under a Sales and Agency Agreement appointing an exclusive sales and marketing agent for all vanadium pentoxide produced by the Company.

FAIR VALUE ACCOUNTING

FAIR VALUE ACCOUNTING	9 Months Ended
	Sep. 30, 2023
Fair Value Disclosures [Abstract]
Fair Value Accounting	FAIR VALUE ACCOUNTING Assets and Liabilities Measured at Fair Value on a Recurring Basis Assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. Fair value accounting utilizes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets and liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). The three levels of the fair value hierarchy are described below: Level 1 – Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities; Level 2 – Quoted prices in markets that are not active, or inputs that are observable, either directly or indirectly, for substantially the full term of the asset or liability; and Level 3 – Prices or valuation techniques that require inputs that are both significant to the fair value measurement and unobservable (supported by little or no market activity). The Company’s financial instruments as of September 30, 2024 and December 31, 2023 include cash, cash equivalents, restricted cash, accounts receivable, accounts payable and current accrued liabilities. These instruments are carried at cost, which approximates fair value due to the short-term maturities of the instruments. Allowances for doubtful accounts are recorded against the accounts receivable balance to estimate net realizable value. The Company’s investments in marketable equity securities are publicly traded stocks measured at fair value and classified within Level 1 and Level 2 in the fair value hierarchy. Level 1 marketable equity securities use quoted prices for identical assets in active markets, while Level 2 marketable equity securities utilize inputs based upon quoted prices for similar instruments in active markets. The Company’s investments in marketable debt securities are valued using quoted prices of a pricing service and, as such, are classified within Level 2 of the fair value hierarchy. The Company’s investments accounted for at fair value consisting of common shares are valued using quoted market prices in active markets and, as such, are classified within Level 1 of the fair value hierarchy. The Company’s investments include certain investments accounted for at fair value consisting of warrants are valued using the Black-Scholes option model based on observable inputs and, as such, are classified within Level 2 of the hierarchy. The Convertible Note received as part of the Alta Mesa Transaction was valued as of February 14, 2023, upon closing, using a binomial lattice model. The fair value calculation used significant unobservable inputs within the Level 3 fair value hierarchy, including: (i) volatility 60%, and (ii) yield of 9.5%. Increases or decreases in the volatility and/or the selected yield can result in an increase or decrease in the fair value of the Convertible Note. Between February 14, 2023 and November 3, 2023, enCore early redeemed $40.00 million of the principal value of the Convertible Note. On November 9, 2023, the Company sold the remaining unpaid balance of $20 million owed under the secured Convertible Note for total consideration of $21.00 million plus $1.50 million in unpaid accrued interest, less a sales commission of $0.10 million paid to a third-party broker. As a result of enCore’s earlier pay-down and the $22.40 million received in connection with the sale of the Convertible Note, the Company received payment in full for the Alta Mesa Transaction, and no further consideration is owed in connection therewith. The Company used the discounted cash flow approach, which is an income statement technique, to estimate the fair value of the its contingent consideration payment to RadTran using an indicated discount rate of 10.2%, as of the acquisition date, August 16, 2024 and 8.2% as of September 30, 2024, which is based on significant inputs not observable in the market, and thus represents a Level 3 measurement within the fair value hierarchy. The following tables set forth the fair value of the Company’s assets and liabilities measured at fair value on a recurring basis (at least annually) by level within the fair value hierarchy. Assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. Level 1 Level 2 Level 3 Total September 30, 2024 Assets Cash equivalents (1) $ — $ 18,468 $ — $ 18,468 Marketable debt securities — 77,333 — 77,333 Marketable equity securities 23,742 79 — 23,821 Total assets $ 23,742 $ 95,880 $ — $ 119,622 Liabilities Contingent consideration — — 1,727 1,727 December 31, 2023 Assets Cash equivalents (1) $ — $ 40,512 $ — $ 40,512 Marketable debt securities — 107,466 — 107,466 Marketable equity securities 25,554 24 — 25,578 $ 25,554 $ 148,002 $ — $ 173,556 (1) Cash and cash equivalents are comprised of U.S. Treasury Bills, Government Agency Bonds, U.S. Non-Redeemable Term Deposits and mutual funds purchased within three months of their maturity date. Changes in Level 3 Fair Value Measurements The following table is a reconciliation of the beginning and ending balance recorded for the contingent consideration classified as Level 3 in the fair value hierarchy: Beginning balance, August 16, 2024 $ 1,690 Increase to intellectual property 37 Ending balance, September 30, 2024 $ 1,727 Investments Accounted for at Fair Value The fair value of investments accounted for at fair value was calculated as the quoted market price of the marketable equity security multiplied by the quantity of shares held by the Company. During the nine months ended September 30, 2023, the Company held ownership interests in Virginia Energy Resources, Inc. (“ Virginia Energy ”) and Consolidated Uranium Inc. (“ CUR ”). These investments provided the Company with the ability to have significant influence, but not control, over their operations. The Company elected the fair value option for each of these investments. On January 24, 2023, CUR acquired 100% of the issued and outstanding common shares of Virginia Energy for 0.26 common shares of CUR for every one common share of Virginia Energy. As a result, the Company’s 9,439,857 common shares of Virginia Energy were converted into 2,454,362 million common shares of CUR (the “ Conversion ”). Following the Conversion, the Company owned 16,189,548 common shares of CUR, which represented an ownership interest of 16.7% in CUR as of closing. On December 5, 2023, IsoEnergy Ltd. (“ IsoEnergy ”) acquired all of the issued and outstanding common shares of CUR (the “ CUR Shares ”). Pursuant to the arrangement, CUR’s shareholders received 0.500 common shares of IsoEnergy for every CUR Share. When converted, the Company's CUR Shares result in an approximate ownership interest in IsoEnergy of 5.0%. On October 19, 2023, IsoEnergy completed its marketed private placement offering of 8,134,500 subscription receipts of IsoEnergy (the “ Subscription Receipts ”) at a price of Cdn$4.50 per Subscription Receipt; in order to retain its post-arrangement ownership interest in IsoEnergy, the Company purchased 406,650 Subscription Receipts for Cdn$1.83 million. Each outstanding Subscription Receipt was converted into one common share of IsoEnergy. Following completion of this arrangement, the Company owned 8,501,424 shares of IsoEnergy for an approximate ownership interest of 5.0% as of December 5, 2023. Upon completion of this arrangement, the Company does not have significant influence over IsoEnergy as a result of no representation on the Board of Directors of IsoEnergy and its reduced ownership interest. Therefore, the investment is no longer accounted for as an equity method investment. The Company's judgment regarding the level of influence over its equity method investments includes considering key factors such as the Company's ownership interest, representation on the Board of Directors and participation in the policy-making decisions of equity method investees. As such, the Company's shares in IsoEnergy are accounted for as marketable securities with the fair value option elected on its Consolidated Balance Sheet and changes in value are included in Other income (loss) in the Consolidated Statement of Operations and Comprehensive Income. The Company had an unrealized gain of $8.89 million and $6.70 million, respectively, for the three and nine months ended September 30, 2023. The unrealized gain (loss) related to these investments is included in Other income in the Condensed Consolidated Statement of Operations and Comprehensive Income.

REVENUE RECOGNITION AND CONTRAC

REVENUE RECOGNITION AND CONTRACTS WITH CUSTOMERS	9 Months Ended
	Sep. 30, 2024
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer	REVENUE RECOGNITION AND CONTRACTS WITH CUSTOMERS All revenue recognized is a result of contracts with customers by way of uranium, vanadium and RE Carbonate sales contracts, Alternate Feed Material processing contracts and/or byproduct disposal agreements with other ISR facilities. As of September 30, 2024 and December 31, 2023, the Company's receivables from its contracts with customers was $4.35 million and $0.41 million, respectively. Uranium Concentrates The Company's sales of uranium concentrates are derived from contracts with major U.S. utilities. Revenue is recognized when delivery is evidenced by book transfer at the applicable uranium storage facility. The sales contracts specify the quantity to be delivered, the price, payment terms and the year of delivery. The Company's agreements with major U.S. utilities have terms greater than one year. The Company is not required to disclose the transaction price allocated to remaining performance obligations because the variable consideration is allocated entirely to a wholly unsatisfied performance obligation. Under these contracts, each delivery product transferred to the customer represents a separate performance obligation; therefore, future quantities are wholly unsatisfied and disclosure of the transaction price allocated to remaining performance obligations is not required. The Company will also sell uranium concentrate to the U.S. Uranium Reserve or other third parties, and such contracts are short-term in nature with a contract term of one year or less. Accordingly, the Company is exempt from disclosure of the transaction price allocated to remaining performance obligations if the performance obligation is part of a contract that has an original expected duration of one year or less. Under the Company's uranium contracts, it invoices customers after the performance obligations have been satisfied, at which point payment is unconditional. Accordingly, the Company’s uranium contracts do not give rise to contract assets or liabilities. Vanadium Concentrates The Company's sales of vanadium concentrates are recognized when delivery is evidenced by book transfer at the applicable vanadium storage facility. Under the Company's vanadium contracts, it invoices customers after the performance obligations have been satisfied, at which point payment is unconditional. Accordingly, the Company’s vanadium contracts do not give rise to contract assets or liabilities. RE Carbonate The Company’s sales of RE Carbonate revenue is recognized when delivery of the mixed RE Carbonate material has arrived at the applicable separation facility. Additionally, the Company will recognize revenue when the customer further processes the product from the RE Carbonate that the Company delivered and it is sold to a third party. Additionally, under this contract, each delivered product transferred to the customer represents a separate performance obligation; therefore, future volumes are wholly unsatisfied and disclosure of the transaction price allocated to remaining performance obligations is not required. Accordingly, the Company’s contracts do not give rise to contract assets or liabilities. Alternate Feed Materials Revenue from the delivery of mineralized material received from the clean-up of a third-party uranium mine or for Alternate Feed Materials is typically recognized upon delivery to the Mill. Revenue from toll milling services is recognized as material is processed in accordance with the specifics of the applicable toll milling agreement. Revenue and unbilled accounts receivable are recorded as related costs are incurred using billing formulas included in the applicable toll milling agreement.

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	9 Months Ended
	Sep. 30, 2024
Related Party Transactions [Abstract]
Related Party Transactions	RELATED PARTY TRANSACTIONS Robert W. Kirkwood, a member of the Company’s Board of Directors, is a principal of the Kirkwood Companies, including Kirkwood Oil and Gas LLC, Wesco Operating, Inc. and United Nuclear LLC (“ United Nuclear ”). United Nuclear owns a 19% interest in the Company’s Arkose Mining Venture, while the Company owns the remaining 81%. The Company acts as manager of the Arkose Mining Venture and has management and control over operations carried out by the Arkose Mining Ve nture. The Arkose Mining Venture is a contractual joint venture governed by a venture agreement dated as of January 15, 2008 and entered into by United Nuclear and Uranerz Energy Corporation, a wholly owned, indirectly held subsidiary of the Company. On October 27, 2021, after closing on the sale of certain conventional uranium assets to CUR, the Company began providing services to CUR under a mine operating agreement. Pursuant to that agreement, the Company earned $0.01 million and $0.06 million for the three months ended September 30, 2024 and 2023, respectively. The Company earned $0.04 million and $0.52 million during the nine months ended September 30, 2024 and 2023, respectively under this agreement. As of September 30, 2024 and December 31, 2023, less than $0.01 million and $0.05 million was due from CUR, respectively. Additionally, the Company accrued $0.76 million and $1.53 million as of September 30, 2024 and December 31, 2023, respectively, in Other long-term receivables related to deferred cash payments for production thresholds pursuant to the terms of the asset purchase agreement with CUR.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	9 Months Ended
	Sep. 30, 2024
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	SUBSEQUENT EVENTS Acquisition of Base Resources On October 2, 2024, EFR Australia Pty Ltd (“ EFR ”), a wholly owned subsidiary of the Company, completed the acquisition of all of the fully paid ordinary shares (the “ Transaction ”) of Base Resources pursuant to a Scheme Implementation Deed dated April 21, 2024 by and among the Company, EFR and Base Resources (the “ Deed ”). Under the Deed, at closing, each holder of ordinary shares of Base Resources received consideration of (i) 0.0260 Company common shares for each Base Resources share held on the Scheme Record Date (being 5 pm Perth, Australia time on Wednesday, September 18, 2024) (the “ Share Consideration ”), and (ii) AUS$0.065 in cash, paid by way of a special dividend by Base Resources to its shareholders. The total Share Consideration issued by Energy Fuels was approximately $178.44 million and the total special dividend value was approximately $55.08 million. Holders of ordinary shares of Base Resources that reside in certain jurisdictions will receive the net proceeds from the sale of the Company’s common shares by a nominee in lieu of the Share Consideration. Base Resources owns the Toliara HMS and monazite project in Madagascar (the “ Toliara Project ”). The Toliara Project is a world-class, advanced-stage, low-cost, and large-scale HMS project. In addition to its stand-alone, ilmenite and rutile (titanium) and zircon (zirconium) production capability, the Toliara Project also contains large quantities of monazite, which is a rich source of the ‘magnetic’ REEs used in EVs and a variety of clean energy, defense and advanced technologies, as well as a source of recoverable uranium, which, upon development, would be shipped to the Mill for the recovery of REEs and the contained uranium. The Toliara Project is subject to negotiation of fiscal terms with the Madagascar government and the receipt of certain Madagascar government approvals and actions before a current suspension on activities at the Toliara Project will be lifted and development may occur. Base Resources also owns the Kwale HMS project in Kenya, which is nearing completion of its mine life and commencement of reclamation activities. The Company expects the Transaction to be accounted for as a business combination using the acquisition method of accounting in accordance with ASC 805. Due to the proximity of the acquisition date to the filing of the Quarterly Report on Form 10-Q for the period ended September 30, 2024, the initial accounting for the Transaction is incomplete, and therefore, the Company is unable to disclose certain information required by ASC 805, including the provisional amounts recognized as of the acquisition date for fair value of consideration transferred, each major class of assets acquired and liabilities assumed, and goodwill, if any, due to the ongoing status of the valuation. In January 2018, Base Resources completed the acquisition of the Toliara Project in Madagascar, with payment of $75.00 million in up-front consideration, for an initial 85% interest. In January 2020, in accordance with the terms of the share sale agreement with World Titane Holdings Limited, the Group acquired the remaining minority interest in the Toliara Project. A further $16.83 million (deferred consideration) is payable on achievement of key milestones. As a result of the transition, a change of control occurred, and payment of the $16.83 million deferred consideration accelerated and was paid on October 16, 2024.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended						9 Months Ended
	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2024	Sep. 30, 2023
Pay vs Performance Disclosure
Net income (loss) and comprehensive income (loss)	$ (12,079)	$ (6,419)	$ 3,638	$ 10,469	$ (4,885)	$ 114,264	$ (14,860)	$ 119,849

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Sep. 30, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Organization, Consolidation and

Organization, Consolidation and Presentation of Financial Statements (Tables)	9 Months Ended
	Sep. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Asset Acquisition	The total purchase consideration as of August 16, 2024 was $4.83 million calculated as follows: Cash $ 1,500 Issuance of Common Shares 1,500 Fair value of contingent consideration 1,690 Direct transaction costs 139 Total purchase consideration $ 4,829 The following is a summary of intellectual property, net: Intellectual property, as of August 16, 2024 $ 4,829 Increase in fair value of contingent consideration 37 Amortization (45) Intellectual property, as of September 30, 2024 $ 4,821

MARKETABLE SECURITIES (Tables)

MARKETABLE SECURITIES (Tables)	9 Months Ended
	Sep. 30, 2024
Cash and Cash Equivalents [Abstract]
Marketable Securities	The following table summarizes our marketable securities by significant investment categories: Cost Basis Gross Unrealized Losses Gross Unrealized Gains Fair Value September 30, 2024 Marketable debt securities (1) $ 76,247 $ — $ 1,086 $ 77,333 Marketable equity securities 28,159 (4,338) — 23,821 Total marketable securities $ 104,406 $ (4,338) $ 1,086 $ 101,154 December 31, 2023 Marketable debt securities (1) $ 106,791 $ — $ 675 $ 107,466 Marketable equity securities 28,159 (2,581) — 25,578 Total marketable securities $ 134,950 $ (2,581) $ 675 $ 133,044 (1) Marketable debt securities are comprised primarily of U.S. Treasury Bills and Government Agency Bonds.

INVENTORIES (Tables)

INVENTORIES (Tables)	9 Months Ended
	Sep. 30, 2024
Inventory Disclosure [Abstract]
Schedule of Inventory, Current	September 30, 2024 December 31, 2023 Concentrates and work-in-progress $ 15,095 $ 35,807 Inventory of ore in stockpiles 15,895 3,072 Raw materials and consumables 4,920 1,841 Total inventories $ 35,910 $ 40,720

PLANT AND EQUIPMENT AND MINER_2

PLANT AND EQUIPMENT AND MINERAL PROPERTIES (Tables)	9 Months Ended
	Sep. 30, 2024
Property, Plant and Equipment [Abstract]
Schedule of Property, Plant and Equipment	The following is a summary of property, plant and equipment, net: Estimated Useful Lives September 30, 2024 December 31, 2023 Land N/A $ 642 $ 642 Plant facilities 12 - 15 years 50,451 29,750 Mining equipment 5 - 10 years 21,471 13,019 Light trucks and utility vehicles 5 years 3,905 3,256 Office furniture and equipment 4 - 7 years 1,909 1,754 Construction-in-progress (1) N/A 4,203 13,627 Total property, plant and equipment $ 82,581 $ 62,048 Less: accumulated depreciation (39,033) (35,925) Property, plant and equipment, net $ 43,548 $ 26,123 (1) Costs incurred for commissioning activities for the Company ’ s Phase 1 REE separation circuit at the Mill are capitalized. The Company will offset these costs upon sale of separated neodymium-praseodymium ( “ NdPr ” ) that is produced during commissioning of the Phase 1 REE separation circuit.
Schedule of Summary of Mineral Properties	The following is a summary of mineral properties: September 30, 2024 December 31, 2023 Sheep Mountain $ 34,183 $ 34,183 Bahia Project 32,613 29,130 Nichols Ranch ISR Project 25,974 25,974 Roca Honda 22,095 22,095 Pinyon Plain 9,338 6,512 Other 1,687 1,687 Total mineral properties $ 125,890 $ 119,581 Less: accumulated depletion $ (1,034) $ — Mineral properties, net $ 124,856 $ 119,581

Investments, Equity Method and

Investments, Equity Method and Joint Ventures (Tables)	9 Months Ended
	Sep. 30, 2024
Equity Method Investments and Joint Ventures [Abstract]
Schedule of Investments	The following table is a reconciliation of the Company's investments: September 30, December 31, Equity method investment $ 9,306 $ — Investments without readily determinable fair values 2,824 1,356 Total investments $ 12,130 $ 1,356

ASSET RETIREMENT OBLIGATIONS _2

ASSET RETIREMENT OBLIGATIONS AND RESTRICTED CASH (Tables)	9 Months Ended
	Sep. 30, 2024
Asset Retirement Obligation Disclosure [Abstract]
Schedule of Change in Asset Retirement Obligation	The following table summarizes the Company’s asset retirement obligations: Asset retirement obligations, December 31, 2023 $ 10,922 Revision of estimate 165 Accretion of liabilities 916 Asset retirement obligations, September 30, 2024 $ 12,003
Schedule of Restricted Cash and Cash Equivalents	The following table summarizes the Company’s restricted cash: Restricted cash, December 31, 2023 $ 17,579 Additional collateral posted 1,705 Restricted cash, September 30, 2024 $ 19,284

BASIC AND DILUTED INCOME (LOS_2

BASIC AND DILUTED INCOME (LOSS) PER COMMON SHARE (Tables)	9 Months Ended
	Sep. 30, 2024
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	The calculation of basic net income (loss) per common share and diluted net income (loss) per common share after adjustment for the effects of all potential dilutive Common Shares is as follows: Three Months Ended Nine Months Ended 2024 2023 2024 2023 Net income (loss) attributable to owners of the Company $ (12,060) $ 10,563 $ (14,839) $ 119,968 Basic weighted average common shares outstanding 163,882,537 158,616,883 163,650,699 158,235,301 Dilutive impact of stock options and restricted stock units — 1,167,832 — 1,217,624 Diluted weighted average common shares outstanding 163,882,537 159,784,715 163,650,699 159,452,925 Basic net income (loss) per common share $ (0.07) $ 0.07 $ (0.09) $ 0.76 Diluted net income (loss) per common share $ (0.07) $ 0.07 $ (0.09) $ 0.75

SHARE-BASED PAYMENTS (Tables)

SHARE-BASED PAYMENTS (Tables)	9 Months Ended
	Sep. 30, 2024
Share-Based Payment Arrangement [Abstract]
Disclosure of Share-based Compensation Arrangements by Share-based Payment Award	The Company’s share-based compensation expense, by type of award, is as follows: Three Months Ended Nine Months Ended 2024 2023 2024 2023 RSUs (1) $ 636 $ 523 $ 2,218 $ 2,329 SARs 4 653 268 1,393 Stock options 387 117 1,298 311 Total share-based compensation expense (2) $ 1,027 $ 1,293 $ 3,784 $ 4,033 (1) The fair value of the RSUs granted under the Compensation Plan for the three and nine months ended September 30, 2024 and 2023 was estimated at the date of grant using the stated market price on the NYSE American. (2) Share-based compensation is included in Selling, general and administration in the Condensed Consolidated Statements of Operations and Comprehensive Income.
Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity	A summary of the Company’s unvested RSU activity is as follows: Number of Shares Weighted Average Grant Date Fair Value Unvested, December 31, 2023 641,839 $ 6.57 Granted 406,035 7.25 Vested (373,067) 6.20 Forfeited — — Unvested, September 30, 2024 674,807 $ 7.19 A summary of the Company’s SARs activity is as follows: Number of Shares Weighted Average Weighted Average Remaining Contractual Life (Years) Intrinsic Value Outstanding, December 31, 2023 1,839,528 $ 5.01 Granted — — Exercised (250,036) 2.92 Forfeited (3,152) 7.36 Expired (569,595) 2.94 Outstanding, September 30, 2024 1,016,745 $ 6.67 2.55 $ — Exercisable, September 30, 2024 — $ — — $ — A summary of the Company’s unvested SARs activity is as follows: Number of Shares Weighted Average Grant Date Fair Value Unvested, December 31, 2023 1,589,492 $ 2.89 Granted — — Vested — — Expired (569,595) 1.22 Forfeited (3,152) 3.45 Unvested, September 30, 2024 1,016,745 $ 3.83
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions	The fair value of all stock options, including Performance Based Options, granted under the Compensation Plan for the nine months ended September 30, 2024 was estimated at the date of grant, using the Black-Scholes Option Valuation Model, with the following weighted average assumptions: Risk-free interest rate 4.67 % Expected life 3.09 Expected volatility (1) 68.82 % Expected dividend yield — % Weighted average grant date fair value $ 3.44 (1) Expected volatility is measured based on the Company’s historical share price volatility over a period equivalent to the expected life of the stock options.
Schedule of Share-based Compensation, Stock Options, Activity	A summary of all of the Company’s stock option activity, including Performance Based Options, is as follows: Range of Exercise Prices Number of Shares Weighted Average Weighted Average Remaining Contractual Life (Years) Intrinsic Value Outstanding, December 31, 2023 $1.76 - $8.60 523,468 $ 4.48 Granted 5.09 - 8.23 626,437 7.55 Exercised 1.76 - 6.47 (47,804) 3.32 Forfeited 6.12 - 8.23 (30,012) 7.35 Expired 2.92 - 7.36 (5,885) 6.57 Outstanding, September 30, 2024 $1.76 - $8.60 1,066,204 $ 6.25 3.15 $ 751 Exercisable, September 30, 2024 $1.76 - $8.41 399,742 $ 4.08 1.39 $ 739 A summary of the Company’s unvested stock option activity is as follows: Number of Shares Weighted Average Grant Date Fair Value Unvested, December 31, 2023 169,182 $ 4.11 Granted 626,437 3.44 Vested (99,145) 4.32 Forfeited (30,012) 3.67 Unvested, September 30, 2024 666,462 $ 3.47

SUPPLEMENTAL FINANCIAL INFORM_2

SUPPLEMENTAL FINANCIAL INFORMATION (Tables)	9 Months Ended
	Sep. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Other Nonoperating Income (Expense)	The components of other income (loss) are as follows: Three Months Ended Nine Months Ended 2024 2023 2024 2023 Unrealized gain on investments $ — $ 8,890 $ — $ 6,701 Unrealized gain (loss) on marketable securities (2,330) 540 (1,346) 875 Realized gain on maturities of marketable securities 843 374 1,704 588 Unrealized gain on convertible note — 7,223 — 6,972 Realized gain on convertible note — 181 — 181 Foreign exchange gain (loss) 22 (239) (331) 80 Interest income, net and other 1,291 444 4,039 3,206 Other income $ (174) $ 17,413 $ 4,066 $ 18,603
Schedule of Accounts, Notes, Loans and Financing Receivable	The components of trade and other receivables are as follows: September 30, 2024 December 31, 2023 Trade receivables $ 4,345 $ 406 Notes receivable, net 343 343 Other 226 67 Total receivables $ 4,914 $ 816
Schedule of Accounts Payable and Accrued Liabilities	The components of accounts payable and accrued liabilities are as follows: September 30, 2024 December 31, 2023 Accounts payable $ 3,706 $ 1,006 Accrued operating expenses 1,022 4,391 Accrued payroll liabilities 3,078 4,162 Accrued capital expenditures 12 205 Accrued taxes 395 393 Other accrued liabilities — 4 Accounts payable and accrued liabilities $ 8,213 $ 10,161

FAIR VALUE ACCOUNTING (Tables)

FAIR VALUE ACCOUNTING (Tables)	9 Months Ended
	Sep. 30, 2024
Fair Value Disclosures [Abstract]
Fair Value Measurements, Recurring and Nonrecurring	The following tables set forth the fair value of the Company’s assets and liabilities measured at fair value on a recurring basis (at least annually) by level within the fair value hierarchy. Assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. Level 1 Level 2 Level 3 Total September 30, 2024 Assets Cash equivalents (1) $ — $ 18,468 $ — $ 18,468 Marketable debt securities — 77,333 — 77,333 Marketable equity securities 23,742 79 — 23,821 Total assets $ 23,742 $ 95,880 $ — $ 119,622 Liabilities Contingent consideration — — 1,727 1,727 December 31, 2023 Assets Cash equivalents (1) $ — $ 40,512 $ — $ 40,512 Marketable debt securities — 107,466 — 107,466 Marketable equity securities 25,554 24 — 25,578 $ 25,554 $ 148,002 $ — $ 173,556 (1) Cash and cash equivalents are comprised of U.S. Treasury Bills, Government Agency Bonds, U.S. Non-Redeemable Term Deposits and mutual funds purchased within three months of their maturity date. Changes in Level 3 Fair Value Measurements The following table is a reconciliation of the beginning and ending balance recorded for the contingent consideration classified as Level 3 in the fair value hierarchy: Beginning balance, August 16, 2024 $ 1,690 Increase to intellectual property 37 Ending balance, September 30, 2024 $ 1,727

TRANSACTIONS - Joint Venture wi

TRANSACTIONS - Joint Venture with Astron on the Donald Project (Details) $ in Thousands, $ in Millions		5 Months Ended	7 Months Ended	9 Months Ended		12 Months Ended
	Sep. 24, 2024 USD ($)	Dec. 31, 2024 USD ($)	Dec. 31, 2024 USD ($)	Sep. 30, 2024 USD ($)	Sep. 30, 2023 USD ($)	Jun. 03, 2025	Sep. 25, 2024	Jun. 03, 2024 USD ($)	Jun. 03, 2024 AUD ($)
Variable Interest Entity [Line Items]
Amount expected to be invested within the next year				$ 7,306	$ 0
Variable interest entity, maximum loss exposure				$ 9,310
Donald Proect JV
Variable Interest Entity [Line Items]
Equity method, ownership percentage							3.21%
Astron Corporation Limited | Donald Proect JV
Variable Interest Entity [Line Items]
Equity method, ownership percentage							96.79%
Private Placement
Variable Interest Entity [Line Items]
Value of common shares issued in transaction	$ 3,500
Forecast | Private Placement | Maximum
Variable Interest Entity [Line Items]
Value of common shares issued in transaction		$ 17,500
Variable Interest Entity, Not Primary Beneficiary
Variable Interest Entity [Line Items]
Maximum right to invest								$ 127,000	$ 183
Variable Interest Entity, Not Primary Beneficiary | Forecast
Variable Interest Entity [Line Items]
Maximum possible ownership percentage						49%
Amount expected to be invested within the next year			$ 10,600

TRANSACTIONS - Acquisition of R

TRANSACTIONS - Acquisition of RadTran (Details) - RadTran LLC $ in Thousands	Aug. 16, 2024 USD ($)
Asset Acquisition [Line Items]
Cash	$ 1,500
Issuance of Common Shares	$ 1,500
Asset acquisition, contractual commitment, royalty on future revenues, percentage	2%
Fair value of contingent consideration	$ 1,690
Acquired Finite-Lived Intangible Assets, Weighted Average Useful Life	13 years 6 months
Maximum
Asset Acquisition [Line Items]
Fair value of contingent consideration	$ 14,000
Milestone Achievement One
Asset Acquisition [Line Items]
Asset acquisition, contingent consideration, cash	1,000
Asset acquisition, contingent consideration, equity interest issued and issuable	1,000
Milestone Achievement Two
Asset Acquisition [Line Items]
Asset acquisition, contingent consideration, cash	1,000
Asset acquisition, contingent consideration, equity interest issued and issuable	1,000
Milestone Achievement Three
Asset Acquisition [Line Items]
Asset acquisition, contingent consideration, cash	$ 10,000

TRANSACTIONS - Schedule of Purc

TRANSACTIONS - Schedule of Purchase Consideration for RadTran (Details) - RadTran LLC $ in Thousands	Aug. 16, 2024 USD ($)
Asset Acquisition [Line Items]
Cash	$ 1,500
Issuance of Common Shares	1,500
Fair value of contingent consideration	1,690
Direct transaction costs	139
Total purchase consideration	$ 4,829

TRANSACTIONS - Intellectual Pro

TRANSACTIONS - Intellectual Property Acquired Roll Forward (Details) $ in Thousands	1 Months Ended
	Sep. 30, 2024 USD ($)
Finite-Lived Intangible Assets [Roll Forward]
Intellectual property, as of September 30, 2024	$ 4,821
RadTran LLC
Finite-Lived Intangible Assets [Roll Forward]
Intellectual property, as of August 16, 2024	4,829
Increase in fair value of contingent consideration	37
Intangible asset amortization	(45)
Intellectual property, as of September 30, 2024	$ 4,821

MARKETABLE SECURITIES - Schedul

MARKETABLE SECURITIES - Schedule of Marketable Securities (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Marketable Debt Securities and Convertible Note
Cost Basis		$ 106,791
Gross Unrealized Losses		0
Gross Unrealized Gains		675
Fair Value		107,466
Marketable equity securities
Cost Basis	$ 28,159	28,159
Gross Unrealized Losses	(4,338)	(2,581)
Gross Unrealized Gains	0	0
Fair Value	23,821	25,578
Cost Basis	104,406	134,950
Gross Unrealized Losses	4,338	2,581
Gross Unrealized Gains	1,086	675
Fair Value	101,154	$ 133,044
Marketable Debt Securities
Marketable Debt Securities and Convertible Note
Cost Basis	76,247
Gross Unrealized Losses	0
Gross Unrealized Gains	1,086
Fair Value	$ 77,333

INVENTORIES - Schedule of Inven

INVENTORIES - Schedule of Inventory, Current (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Inventory Disclosure [Abstract]
Concentrates and work-in-progress	$ 15,095	$ 35,807
Inventory of ore in stockpiles	15,895	3,072
Raw materials and consumables	4,920	1,841
Total inventories	$ 35,910	$ 40,720

PLANT AND EQUIPMENT AND MINER_3

PLANT AND EQUIPMENT AND MINERAL PROPERTIES - Schedule of Property, Plant and Equipment (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Property, Plant and Equipment [Line Items]
Total property, plant and equipment	$ 82,581	$ 62,048
Less: accumulated depreciation	(39,033)	(35,925)
Property, plant and equipment, net	43,548	26,123
Land
Property, Plant and Equipment [Line Items]
Total property, plant and equipment	642	642
Plant facilities
Property, Plant and Equipment [Line Items]
Total property, plant and equipment	$ 50,451	29,750
Plant facilities | Minimum
Property, Plant and Equipment [Line Items]
Estimated Useful Lives	12 years
Plant facilities | Maximum
Property, Plant and Equipment [Line Items]
Estimated Useful Lives	15 years
Mining equipment
Property, Plant and Equipment [Line Items]
Total property, plant and equipment	$ 21,471	13,019
Mining equipment | Minimum
Property, Plant and Equipment [Line Items]
Estimated Useful Lives	5 years
Mining equipment | Maximum
Property, Plant and Equipment [Line Items]
Estimated Useful Lives	10 years
Light trucks and utility vehicles
Property, Plant and Equipment [Line Items]
Total property, plant and equipment	$ 3,905	3,256
Estimated Useful Lives	5 years
Office furniture and equipment
Property, Plant and Equipment [Line Items]
Total property, plant and equipment	$ 1,909	1,754
Office furniture and equipment | Minimum
Property, Plant and Equipment [Line Items]
Estimated Useful Lives	4 years
Office furniture and equipment | Maximum
Property, Plant and Equipment [Line Items]
Estimated Useful Lives	7 years
Construction-in-progress(1)
Property, Plant and Equipment [Line Items]
Total property, plant and equipment	$ 4,203	$ 13,627

PLANT AND EQUIPMENT AND MINER_4

PLANT AND EQUIPMENT AND MINERAL PROPERTIES (Narrative) (Details) $ / shares in Units, $ in Thousands				3 Months Ended		9 Months Ended
	May 03, 2023 USD ($)	Feb. 14, 2023 USD ($) subsidiary $ / shares	Feb. 10, 2023 USD ($) mi purchaseAgreement mineral_concession a	Sep. 30, 2024 USD ($)	Sep. 30, 2023 USD ($)	Sep. 30, 2024 USD ($)	Sep. 30, 2023 USD ($)
Property, Plant and Equipment [Line Items]
Depreciation				$ 660	$ 690	$ 1,950	$ 2,020
Number of purchase agreements | purchaseAgreement			2
Number Of Mineral Concessions Acquired | mineral_concession			17
Purchase Agreement, acres to purchase | a			37,300
Purchase Agreement, miles to purchase | mi			58.3
Purchase Agreement, purchase price			$ 27,500
Purchase Agreement, deposit payment			5,900
Purchase Agreement, payment due at closing			21,600
Purchase Agreement, direct deal costs			$ 1,630
Gain on sale of assets				8	0	10	119,257
Plus: release of restricted cash related to sale of assets						0	(3,590)
Additions to property, plant and equipment						20,684	8,908
Restricted Cash And Cash Equivalents Held For Sale					3,590
Alta Mesa Divestiture
Property, Plant and Equipment [Line Items]
Number Of Subsidiaries Sold | subsidiary		3
Disposal Group, Including Discontinued Operation, Consideration		$ 120,000
Proceeds from Divestiture of Interest in Consolidated Subsidiaries		60,000
Disposal Group, Cash Due Prior To Closing		6,000
Disposal Group, Cash Due At Closing		54,000
Noncash or Part Noncash Divestiture, Amount of Consideration Received		$ 60,000
Convertible Note Receivable, Term		2 years
Convertible Notes Receivable, Interest Rate		8%
Convertible Notes Receivable, Conversion Price Per Share | $ / shares		$ 2.9103
Convertible Notes Receivable, Premium		20%
Convertible Notes Receivable, Conversion Limitation Per Transaction		$ 10,000
Convertible Notes Receivable, Conversion Period		30 days
Gain on sale of assets		$ 116,500
Disposal Group, Cash To Be Received		119,460
Notes Receivable, Amortized cost		59,460
Disposal Group, Including Discontinued Operation, Assets		$ 3,400
Proceeds from Sale of Productive Assets	$ 3,100
Disposal Group, Not Discontinued Operation, Gain (Loss) on Disposal	2,750
Additions to property, plant and equipment	500
Disposal Group, Including Discontinued Operation, Property, Plant and Equipment	$ 350
Disposal Group, Including Discontinued Operation, Property, Plant And Equipment, Usage Period	20 years
White Mesa Mill
Property, Plant and Equipment [Line Items]
Depreciation				460	90	940	240
Mineral Properties [Domain]
Property, Plant and Equipment [Line Items]
Depreciation				$ 0	$ 60	$ 230	$ 130

PLANT AND EQUIPMENT AND MINER_5

PLANT AND EQUIPMENT AND MINERAL PROPERTIES - Schedule of Summary of Mineral Properties (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023	Sep. 30, 2023
Property, Plant and Equipment [Line Items]
Mineral properties, net	$ 124,856	$ 119,581
Mineral Properties, Gross	125,890		$ 119,581
Mineral Properties, Accumulated Depletion	(1,034)		$ 0
Sheep Mountain
Property, Plant and Equipment [Line Items]
Mineral properties, net	34,183	34,183
Bahia Project
Property, Plant and Equipment [Line Items]
Mineral properties, net	32,613	29,130
Nichols Ranch ISR Project
Property, Plant and Equipment [Line Items]
Mineral properties, net	25,974	25,974
Roca Honda
Property, Plant and Equipment [Line Items]
Mineral properties, net	22,095	22,095
Pinyon Plain
Property, Plant and Equipment [Line Items]
Mineral properties, net	9,338	6,512
Other
Property, Plant and Equipment [Line Items]
Mineral properties, net	$ 1,687	$ 1,687

Investments, Equity Method an_2

Investments, Equity Method and Joint Ventures (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Equity Method Investments and Joint Ventures [Abstract]
Equity method investment	$ 9,306	$ 0
Investments without readily determinable fair values	2,824	1,356
Investments (Note 7)	$ 12,130	$ 1,356

ASSET RETIREMENT OBLIGATIONS _3

ASSET RETIREMENT OBLIGATIONS AND RESTRICTED CASH - Schedule of Change in Asset Retirement Obligation (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward]
Asset Retirement Obligation, Beginning Balance			$ 10,922
Revision of estimate			165
Accretion of liabilities	$ 327	$ 282	916	$ 902
Asset Retirement Obligation, Ending Balance	$ 12,003		$ 12,003

ASSET RETIREMENT OBLIGATIONS _4

ASSET RETIREMENT OBLIGATIONS AND RESTRICTED CASH - Schedule of Restricted Cash and Cash Equivalents (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2024 USD ($)
Restricted Cash And Cash Equivalents [Roll Forward]
Restricted Cash and Cash Equivalents	$ 17,579
Additional collateral posted	1,705
Restricted Cash and Cash Equivalents	$ 19,284

CAPITAL STOCK - Narrative (Deta

CAPITAL STOCK - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Class of Warrant or Right [Line Items]
Sale of stock, consideration received		$ 16,050
At The Market Sale Of Stock
Class of Warrant or Right [Line Items]
Sale of stock, number of shares issued (in shares)	0	2,050,000	620,000	2,050,000
Sale of stock, consideration received			$ 4,780	$ 16,050

BASIC AND DILUTED INCOME (LOS_3

BASIC AND DILUTED INCOME (LOSS) PER COMMON SHARE - Schedule of Earnings Per Share, Basic and Diluted (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Earnings Per Share [Abstract]
Net income (loss) attributable to owners of the Company	$ (12,060)	$ 10,563	$ (14,839)	$ 119,968
Basic weighted average common shares outstanding	163,882,537	158,616,883	163,650,699	158,235,301
Dilutive impact of stock options and restricted stock units	0	1,167,832	0	1,217,624
Diluted weighted average common shares outstanding	163,882,537	159,784,715	163,650,699	159,452,925
Basic net income (loss) per common share	$ (0.07)	$ 0.07	$ (0.09)	$ 0.76
Diluted net income (loss) per common share	$ (0.07)	$ 0.07	$ (0.09)	$ 0.75

BASIC AND DILUTED INCOME (LOS_4

BASIC AND DILUTED INCOME (LOSS) PER COMMON SHARE - Narrative (Details) - shares shares in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities (in shares)	1,710	780	1,610	10
Stock Appreciation Rights (SARs)
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities (in shares)	1,020	2,170	1,020	2,240

SHARE-BASED PAYMENTS - Narrativ

SHARE-BASED PAYMENTS - Narrative (Details) - USD ($) $ / shares in Units, $ in Thousands		9 Months Ended
	Jan. 25, 2024	Sep. 30, 2024	Jun. 11, 2024	Jan. 31, 2024	Jan. 24, 2024
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grants in period, weighted average exercise price (in dollars per share)		$ 7.55
Award exercise period		5 years
Exercisable options, weighted average remaining contractual term		1 year 4 months 20 days
Share Price (in dollars per share)					$ 7.48
Stock Incentive Plan | Total Share Authorization
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized (in shares)		7,230,770
Stock Incentive Plan | Full Value Share Authorization
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized (in shares)		6,825,193
Employee Stock Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period		2 years
Unrecognized compensation costs related to unvested stock options		$ 940
Share-based compensation, nonvested awards, compensation cost not yet recognized, period for recognition		1 year 4 months 6 days
Employee Stock Option | Share-based Compensation Award, Tranche One
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Rights, Percentage	50%
Employee Stock Option | Share-based Compensation Award, Tranche Two
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Rights, Percentage	50%
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period		3 years
Intrinsic value		$ 2,720,000
Unrecognized compensation costs related to RSU awards		$ 1,570
Share-based compensation, nonvested awards, compensation cost not yet recognized, period for recognition		2 years 29 days
Stock Appreciation Rights (SARs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation costs related to RSU awards		$ 30
Share-based compensation, nonvested awards, compensation cost not yet recognized, period for recognition		3 months 10 days
Performance Based Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Exercise Price				$ 8.23
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grants in period, weighted average exercise price (in dollars per share)		$ 8.23
Exercisable options, weighted average remaining contractual term		10 years
Maximum | Stock Incentive Plan | Total Share Authorization
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized (in shares)			10,000,000
Maximum | Stock Incentive Plan | Full Value Share Authorization
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized (in shares)			7,500,000

SHARE-BASED PAYMENTS - Schedule

SHARE-BASED PAYMENTS - Schedule of Share-based Compensation, Restricted Stock, Restricted Stock Units Activity and SAR's (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Payment Arrangement, Expense	$ 1,027	$ 1,293	$ 3,784	$ 4,033
Equity Option
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Nonvested, weighted average grant date fair value, beginning of period (in dollars per share)			$ 4.11
Nonvested, weighted average grant date fair value, end of period (in dollars per share)	$ 3.47		$ 3.47
Employee Stock Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Payment Arrangement, Expense	$ 387	117	$ 1,298	311
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Unrecognized Compensation Costs Related To Unvested Stock Options			940
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Payment Arrangement, Expense	$ 636	523	$ 2,218	2,329
Restricted Stock Units (RSUs) | Equity Option
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Nonvested, Number of Shares [Roll Forward]
Number of nonvested shares, beginning of period (in shares)			641,839
Granted, nonvested, number of shares (in shares)			406,035
Vested, number of shares (in shares)			(373,067)
Forfeited, number of shares (in shares)			0
Number of nonvested shares, end of period (in shares)	674,807		674,807
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Nonvested, weighted average grant date fair value, beginning of period (in dollars per share)			$ 6.57
Granted, nonvested, weighted average grant date fair value (in dollars per share)			7.25
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeitures, Weighted Average Grant Date Fair Value			0
Vested, weighted average grant date fair value (in dollars per share)			6.20
Nonvested, weighted average grant date fair value, end of period (in dollars per share)	$ 7.19		$ 7.19
Stock Appreciation Rights (SARs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Payment Arrangement, Expense	$ 4	$ 653	$ 268	$ 1,393
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Nonvested, Number of Shares [Roll Forward]
Number of nonvested shares, beginning of period (in shares)			1,839,528
Granted, nonvested, number of shares (in shares)			0
Exercised, number of shares (in shares)			(250,036)
Forfeited, number of shares (in shares)			(3,152)
Expired (in shares)			(569,595)
Number of nonvested shares, end of period (in shares)	1,016,745		1,016,745
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Nonvested, weighted average grant date fair value, beginning of period (in dollars per share)			$ 5.01
Granted, nonvested, weighted average grant date fair value (in dollars per share)			0
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Exercised, Weighted Average Exercise Price			2.92
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeitures, Weighted Average Grant Date Fair Value			7.36
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Expired, Weighted Average Grant Date Fair			2.94
Nonvested, weighted average grant date fair value, end of period (in dollars per share)	$ 6.67		$ 6.67
Share-Based Compensation Arrangement By Share-Based Payment Award, Non-Option Equity Instruments, Exercisable, Number	0		0
Share-Based Compensation Arrangement By Share-Based Payment Award, Non-Option Equity Instruments, Exercisable, Weighted Average Exercise Price	$ 0		$ 0
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Outstanding, Weighted Average Remaining Contractual Terms			2 years 6 months 18 days
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Aggregate Intrinsic Value, Outstanding	$ 0		$ 0
Share-Based Compensation Arrangement By Share-Based Payment Award, Non-Option Equity Instruments, Exercisable, Aggregate Intrinsic Value	$ 0		$ 0
Stock Appreciation Rights (SARs) | Equity Option
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Nonvested, Number of Shares [Roll Forward]
Number of nonvested shares, beginning of period (in shares)			1,589,492
Granted, nonvested, number of shares (in shares)			0
Vested, number of shares (in shares)			0
Forfeited, number of shares (in shares)			(3,152)
Expired (in shares)			(569,595)
Number of nonvested shares, end of period (in shares)	1,016,745		1,016,745
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Nonvested, weighted average grant date fair value, beginning of period (in dollars per share)			$ 2.89
Granted, nonvested, weighted average grant date fair value (in dollars per share)			0
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeitures, Weighted Average Grant Date Fair Value			3.45
Vested, weighted average grant date fair value (in dollars per share)			0
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Expired, Weighted Average Grant Date Fair			1.22
Nonvested, weighted average grant date fair value, end of period (in dollars per share)	$ 3.83		$ 3.83

SHARE-BASED PAYMENTS - Schedu_2

SHARE-BASED PAYMENTS - Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions (Details) - Employee Stock Option	9 Months Ended
	Sep. 30, 2024 $ / shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk-free interest rate	4.67%
Expected life	3 years 1 month 2 days
Expected volatility(1)	68.82%
Expected dividend yield	0%
Weighted average grant date fair value	$ 3.44

SHARE-BASED PAYMENTS - Schedu_3

SHARE-BASED PAYMENTS - Schedule of Share-based Compensation, Stock Options, Activity (Details) $ / shares in Units, $ in Thousands	9 Months Ended
	Sep. 30, 2024 USD ($) $ / shares shares
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Abstract]
Weighted average exercise price, beginning of period (in dollars per share)	$ 4.48
Grants in period, weighted average exercise price (in dollars per share)	7.55
Exercises in period, weighted average exercise price (in dollars per share)	3.32
Forfeitures in period, weighted average exercise price (in dollars per share)	7.35
Expirations in period, weighted average exercise price (in dollars per share)	6.57
Weighted average exercise price, end of period (in dollars per share)	6.25
Exercisable options, weighted average exercise price (in dollars per share)	$ 4.08
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Number of options, beginning of period (in shares) | shares	523,468
Number of grants in period, net of forfeitures (in shares) | shares	626,437
Number of forfeitures in period (in shares) | shares	(30,012)
Number of expirations in period (in shares) | shares	(5,885)
Number of options, end of period (in shares) | shares	1,066,204
Number of exercisable options (in shares) | shares	399,742
Share-based Compensation Arrangement by Share-based Payment Award, Options, Additional Disclosures [Abstract]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term	3 years 1 month 24 days
Exercisable options, weighted average remaining contractual term	1 year 4 months 20 days
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Aggregate Intrinsic Value | $	$ 751
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Intrinsic Value | $	$ 739
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period | shares	47,804
Minimum
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Abstract]
Weighted average exercise price, beginning of period (in dollars per share)	$ 1.76
Grants in period, weighted average exercise price (in dollars per share)	5.09
Exercises in period, weighted average exercise price (in dollars per share)	1.76
Forfeitures in period, weighted average exercise price (in dollars per share)	6.12
Expirations in period, weighted average exercise price (in dollars per share)	2.92
Weighted average exercise price, end of period (in dollars per share)	1.76
Exercisable options, weighted average exercise price (in dollars per share)	1.76
Maximum
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Abstract]
Weighted average exercise price, beginning of period (in dollars per share)	8.60
Grants in period, weighted average exercise price (in dollars per share)	8.23
Exercises in period, weighted average exercise price (in dollars per share)	6.47
Forfeitures in period, weighted average exercise price (in dollars per share)	8.23
Expirations in period, weighted average exercise price (in dollars per share)	7.36
Weighted average exercise price, end of period (in dollars per share)	8.60
Exercisable options, weighted average exercise price (in dollars per share)	$ 8.41
Share-based Compensation Arrangement by Share-based Payment Award, Options, Additional Disclosures [Abstract]
Exercisable options, weighted average remaining contractual term	10 years
Equity Option
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Nonvested, Number of Shares [Roll Forward]
Number of nonvested shares, beginning of period (in shares) | shares	169,182
Granted, nonvested, number of shares (in shares) | shares	626,437
Vested, number of shares (in shares) | shares	(99,145)
Nonvested options forfeited, number of shares (in shares) | shares	(30,012)
Number of nonvested shares, end of period (in shares) | shares	666,462
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Nonvested, weighted average grant date fair value, beginning of period (in dollars per share)	$ 4.11
Granted, nonvested, weighted average grant date fair value (in dollars per share)	3.44
Vested, weighted average grant date fair value (in dollars per share)	4.32
Nonvested options forfeited, weighted average grant date fair value (in dollars per share)	3.67
Nonvested, weighted average grant date fair value, end of period (in dollars per share)	$ 3.47

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($)	3 Months Ended						9 Months Ended
	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2024	Sep. 30, 2023
Income Tax Disclosure [Abstract]
Income tax provision	$ 0			$ 0				$ 0
Net income (loss) and comprehensive income (loss)	$ (12,079,000)	$ (6,419,000)	$ 3,638,000	$ 10,469,000	$ (4,885,000)	$ 114,264,000	$ (14,860,000)	$ 119,849,000
Effective income tax rate	0%			0%			0%	0%

SUPPLEMENTAL FINANCIAL INFORM_3

SUPPLEMENTAL FINANCIAL INFORMATION - Schedule of Other Nonoperating Income (Expense) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Unrealized gain on investments	$ 0	$ 8,890	$ 0	$ 6,701
Unrealized gain (loss) on marketable securities	(2,330)	540	(1,346)	875
Realized gain on maturities of marketable securities	843	374	1,704	588
Unrealized gain on convertible note	0	7,223	0	6,972
Realized gain on convertible note	0	181	0	181
Foreign exchange gain (loss)	22	(239)	(331)	80
Interest income, net and other	1,291	444	4,039	3,206
Other income	$ (174)	$ 17,413	$ 4,066	$ 18,603

SUPPLEMENTAL FINANCIAL INFORM_4

SUPPLEMENTAL FINANCIAL INFORMATION - Schedule of Receivables (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Trade receivables	$ 4,345	$ 406
Notes receivable, net	343	343
Other	226	67
Total receivables	$ 4,914	$ 816

SUPPLEMENTAL FINANCIAL INFORM_5

SUPPLEMENTAL FINANCIAL INFORMATION - Schedule of Accounts Payable and Accrued Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Accounts payable	$ 3,706	$ 1,006
Accrued payroll liabilities	3,078	4,162
Accrued capital expenditures	12	205
Accrued taxes	395	393
Accrued operating expenses	1,022	4,391
Other accrued liabilities	0	4
Accounts payable and accrued liabilities	$ 8,213	$ 10,161

SUPPLEMENTAL FINANCIAL INFORM_6

SUPPLEMENTAL FINANCIAL INFORMATION - Narrative (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Related Party Transaction [Line Items]
Accounts And Other Receivables, Net	$ 226	$ 67

COMMITMENTS AND CONTINGENCIES -

COMMITMENTS AND CONTINGENCIES - (Narrative) (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Other Commitments [Line Items]
Asset retirement obligation	$ 12,003	$ 10,922
Mining Properties and Mineral Rights
Other Commitments [Line Items]
Renewal costs	230
Canyon Project
Other Commitments [Line Items]
Loss contingency, estimate of possible loss	19,280	17,580
Asset retirement obligation	$ 33,710	$ 33,380

FAIR VALUE ACCOUNTING - Fair Va

FAIR VALUE ACCOUNTING - Fair Value Measurements, Recurring and Nonrecurring (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	$ 119,622	$ 173,556
Contingent consideration	1,727
Fair Value, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents(1)	18,468	40,512
Fair Value, Recurring | Marketable Debt Securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable Securities, Fair Value	77,333	25,578
Fair Value, Recurring | Marketable Equity Securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable Securities, Fair Value	23,821	107,466
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	23,742	25,554
Contingent consideration	0
Level 1 | Fair Value, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents(1)	0	0
Level 1 | Fair Value, Recurring | Marketable Debt Securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable Securities, Fair Value	0	0
Level 1 | Fair Value, Recurring | Marketable Equity Securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable Securities, Fair Value	23,742	25,554
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	95,880	148,002
Contingent consideration	0
Level 2 | Fair Value, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents(1)	18,468	40,512
Level 2 | Fair Value, Recurring | Marketable Debt Securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable Securities, Fair Value	77,333	24
Level 2 | Fair Value, Recurring | Marketable Equity Securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable Securities, Fair Value	79	107,466
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	0	0
Contingent consideration	1,727
Level 3 | Fair Value, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents(1)	0	0
Level 3 | Fair Value, Recurring | Marketable Debt Securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable Securities, Fair Value	0	0
Level 3 | Fair Value, Recurring | Marketable Equity Securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable Securities, Fair Value	$ 0	$ 0

FAIR VALUE ACCOUNTING - Narrati

FAIR VALUE ACCOUNTING - Narrative (Details) $ / shares in Units, $ in Thousands, $ in Thousands							3 Months Ended		9 Months Ended
	Dec. 05, 2023 shares	Nov. 29, 2023 USD ($)	Nov. 09, 2023 USD ($)	Oct. 19, 2023 CAD ($) $ / shares shares	Feb. 14, 2023 percentagepoint	Jan. 24, 2023 shares	Sep. 30, 2024 USD ($)	Sep. 30, 2023 USD ($)	Sep. 30, 2024 USD ($)	Sep. 30, 2023 USD ($)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Change In Value Of Investments Accounted At Fair Value							$ 0	$ 8,890	$ 0	$ 6,701
Convertible Note Receivable, Redeemed			$ 40,000
Convertible Note Receivable, Consideration Received			21,000
Convertible Note Receivable, Unpaid Accrued Interest			1,500
Convertible Note Receivable, Sales Commission		$ 100
Proceeds From Convertible Note Receivable			22,400
Convertible Notes Receivable, Sold			$ 20,000
Issuance of common shares for cash, net of issuance costs									$ 4,788	$ 16,047
IsoEnergy
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Subsidiary, Ownership Percentage, Parent	5%
Private Placement
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Price per share (in USD per share) | $ / shares				$ 4.50
Issuance of common shares for cash, net of issuance costs				$ 1,830
Number of shares available (in shares) | shares	8,501,424			8,134,500
Sale of stock, number of shares issued (in shares) | shares				406,650
Measurement Input, Price Volatility
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Notes Receivable, Fair Value Measurement Input | percentagepoint					0.60
Measurement Input, Yield
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Notes Receivable, Fair Value Measurement Input | percentagepoint					0.095
CUR
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Shares received per common stock share issued (in shares) | shares	0.500
Virginia Energy Resources Inc. | CUR
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Business Acquisition, Percentage of Voting Interests Acquired						100%
Business Combination, Consideration Transferred, Equity Interests Issued and Issuable, Entity Shares Issued Per Acquiree Share | shares						0.26
Business Combination, Number of Common Stock Shares Acquired | shares						9,439,857
Business Combination, Acquired Shares Converted To Common Stock | shares						2,454,362
Virginia Energy Resources Inc. | Energy Fuels
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Business Combination, Shares Converted Into Common Stock | shares						16,189,548
CUR | Energy Fuels
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Business Acquisition, Percentage of Voting Interests Acquired						16.70%

FAIR VALUE ACCOUNTING - Schedul

FAIR VALUE ACCOUNTING - Schedule of Fair Value Reconciliation Rollforward (Details) $ in Thousands	1 Months Ended
	Sep. 30, 2024 USD ($)
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance, August 16, 2024	$ 1,690
Increase to intellectual property	37
Ending balance, September 30, 2024	$ 1,727

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Related Party Transaction [Line Items]
Revenues	$ 4,047	$ 10,987	$ 38,192	$ 37,463
Accounts And Other Receivables, Net	226		226		$ 67
Current receivables	4,914		4,914		816
Other long-term receivables	763		763		1,534
Consolidated Uranium Inc.
Related Party Transaction [Line Items]
Revenues	10	60	40	520
Current receivables	10	$ 50	10	$ 50
Other long-term receivables	$ 760		$ 760		$ 1,530
United Nuclear | Director | Arkose Mining Venture
Related Party Transaction [Line Items]
Equity method, ownership percentage	19%		19%
Energy Fuels | Director | Arkose Mining Venture
Related Party Transaction [Line Items]
Equity method, ownership percentage	81%		81%

SUBSEQUENT EVENTS - (Details)

SUBSEQUENT EVENTS - (Details) $ / shares in Units, $ in Thousands, $ in Thousands			1 Months Ended
	Oct. 16, 2024 USD ($)	Oct. 02, 2024 AUD ($) $ / shares shares	Jan. 31, 2020 USD ($)	Jan. 31, 2018 USD ($)
Toliara Project Asset Acquisition | Base Resources Limited
Subsequent Event [Line Items]
Total purchase consideration				$ 75,000
Asset Acquisition, Percentage Of Interests Acquired				85%
Fair value of contingent consideration			$ 16,830
Subsequent Event | Toliara Project Asset Acquisition | Base Resources Limited
Subsequent Event [Line Items]
Payment of deferred consideration	$ 16,830
Subsequent Event | Base Resources Limited
Subsequent Event [Line Items]
Business Combination, Consideration Transferred, Equity Interests Issued and Issuable, Entity Shares Issued Per Acquiree Share | shares		0.0260
Business Combination, Dividend Paid, Per Share | $ / shares		$ 0.065
Business Combination, Consideration Transferred		$ 178,440
Business Combination, Dividend Paid Amount		$ 55,080