Westwater Resources (WWR) 10-Q/A 17 Dec 13 2013 Q2 Quarterly report (amended) Financial data

Document_and_Entity_Informatio

Document and Entity Information	6 Months Ended
	Jun. 30, 2013	Aug. 13, 2013
Document and Entity Information	'	'
Entity Registrant Name	'URANIUM RESOURCES INC /DE/	'
Entity Central Index Key	'0000839470	'
Document Type	'10-Q	'
Document Period End Date	30-Jun-13	'
Amendment Flag	'true	'
Amendment Description	'As previously disclosed in a Current Report on Form 8-K filed on November 19, 2013, Uranium Resources, Inc. (the “Company,” “URI,” “we,” “us” or “our”) historically capitalized development costs after confirmation of the existence of a commercially minable uranium deposit. After discussions with the Staff of the United States Securities and Exchange Commission (the “SEC”), URI management determined that the Company’s capitalization practices were not in conformance with the SEC’s Industry Guide 7, which allows capitalization of development costs only after proven or probable reserves have been declared. This Amendment No. 1 on Form 10-Q/A (the “Amendment” or “Form 10-Q/A”) amends and restates the Company’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2013, as originally filed with the SEC on August 13, 2013 (the “Original Form 10-Q”). This Amendment amends and restates the Company’s consolidated financial statements and related disclosures as of June 30, 2013 and for the three and six months ended June 30, 2013 and 2012 by reclassifying costs from property, plant and equipment to mineral property expenses. The impact of the restatement is more fully described in Note 3 to the consolidated financial statements contained in this Amendment. Concurrently with the filing of this Amendment, the Company is also filing Amendment No. 1 to its Annual Report on Form 10-K for the year ended December 31, 2012 to amend and restate the Company’s consolidated financial statements and related disclosures as of December 31, 2011 and 2012 and for the years ended December 31, 2010, 2011 and 2012. As a result of the restatement, management has re-evaluated and amended its conclusions regarding the Company’s disclosure controls and procedures and internal control over financial reporting as contained in Item 4 of Part I. In addition, URI management has also determined, consistent with Industry Guide 7, to disclose mineralized material in terms of tons and grade only in its filings with the SEC. Accordingly, the Company will no longer disclose pounds of mineralized uranium material contained in the ground, and this Amendment removes all such disclosure. This Amendment also corrects an error in the number of shares of common stock outstanding as of June 30, 2013, as reflected in the consolidated financial statements contained in this Amendment, and as of August 13, 2013, as shown on the cover page. The correct number is 19,820,258 shares, as indicated in the consolidated financial statements and on the cover page of this Amendment. The following items of the Original Form 10-Q have been modified or revised in this Form 10-Q/A to reflect the restatement and other changes identified above: the cover page; Part I, Item 1. “Financial Statements”; Part I, Item 2. “Management’s Discussion and Analysis of Financial Condition and Results of Operations”; and Part I, Item 4. “Controls and Procedures”. The Company’s principal executive officer and principal financial officer have also provided currently dated certifications pursuant to Sections 302 and 906 of the Sarbanes-Oxley Act of 2002 in connection with this Amendment. This Amendment sets forth the Original Form 10-Q in its entirety, except as required to reflect the effects of the restatement and other changes identified above. Except for disclosures affected by the restatement and other changes, this Amendment speaks as of the original filing date of the Original Form 10-Q and does not modify or update other disclosures in the Original Form 10-Q, including the nature and character of such disclosures, to reflect events occurring or items discovered after the original filing date of the Original Form 10-Q. This Amendment should be read in conjunction with the Company’s amended Annual Report on Form 10-K/A for the year ended December 31, 2012 and all filings made with the SEC subsequent to the original filing date of the Original Form 10-K, together with any amendments to those filings, including the Company’s amended Quarterly Reports on Form 10-Q/A for the quarterly periods ended March 31, 2013 and September 30, 2013, as filed with the SEC on December 17, 2013.	'
Current Fiscal Year End Date	'--12-31	'
Entity Current Reporting Status	'Yes	'
Entity Filer Category	'Smaller Reporting Company	'
Entity Common Stock, Shares Outstanding	'	19,820,258
Document Fiscal Year Focus	'2013	'
Document Fiscal Period Focus	'Q2	'

Condensed_Consolidated_Balance

Condensed Consolidated Balance Sheets (USD $)	Jun. 30, 2013	Dec. 31, 2012
Current Assets:	'	'
Cash and cash equivalents	$5,325,813	$4,664,596
Prepaid and other current assets	401,579	708,228
Total Current Assets	5,727,392	5,372,824
Property, plant and equipment, at cost:	'	'
Property, plant and equipment	99,919,035	100,058,667
Less accumulated depreciation, depletion and impairment	-65,466,430	-65,318,921
Net property, plant and equipment	34,452,605	34,739,746
Certificates of deposit, restricted	4,010,292	9,491,865
Total Assets	44,190,289	49,604,435
Current Liabilities:	'	'
Accounts payable	764,448	1,331,888
Accrued liabilities	1,414,532	1,525,726
Note payable	'	5,000,000
Current portion of asset retirement obligations	887,257	1,160,378
Current portion of capital leases	40,431	112,140
Total Current Liabilities	3,106,668	9,130,132
Asset retirement obligations	3,455,798	3,337,679
Long-term debt	950,000	950,000
Long-term capital leases, less current portion	8,847	17,582
Total Liabilities	7,521,313	13,435,393
Shareholders' Equity:	'	'
Common stock, 200,000,000 shares authorized, $.001 par value; 19,820,258 and 16,150,163 shares issued and outstanding, respectively	19,824	16,154
Paid-in capital	216,504,960	207,338,549
Accumulated deficit	-179,846,390	-171,176,243
Less: Treasury stock (3,813 shares), at cost	-9,418	-9,418
Total Shareholders' Equity	36,668,976	36,169,042
Total Liabilities and Shareholders' Equity	44,190,289	49,604,435
Commitments and contingencies (Note 10)	'	'

Condensed_Consolidated_Balance1

Condensed Consolidated Balance Sheets (Parenthetical) (USD $)	Jun. 30, 2013	Dec. 31, 2012
Condensed Consolidated Balance Sheets	'	'
Common stock, par value (in dollars per share)	$0.00	$0.00
Common stock, shares authorized	200,000,000	200,000,000
Common stock, shares issued	19,820,258	16,150,163
Common stock, shares outstanding	19,820,258	16,150,163
Treasury stock, shares at cost	3,813	3,813

Condensed_Consolidated_Stateme

Condensed Consolidated Statements of Operations (USD $)	3 Months Ended		6 Months Ended
	Jun. 30, 2013	Jun. 30, 2012	Jun. 30, 2013	Jun. 30, 2012
Cost of uranium sales:	'	'	'	'
Operating expenses	$630,907	$923,429	$1,318,124	$1,143,837
Mineral property expenses	1,002,569	1,604,130	1,424,329	2,234,040
Accretion/amortization of asset retirement obligations	97,435	23,624	194,870	46,743
Depreciation and depletion	73,919	110,996	149,818	227,318
Impairment of uranium properties	400,226	482,849	679,655	751,772
Total cost of uranium sales	2,205,056	3,145,028	3,766,796	4,403,710
Loss from operations before corporate expenses	-2,205,056	-3,145,028	-3,766,796	-4,403,710
Corporate expenses:	'	'	'	'
General and administrative	1,939,882	2,183,553	4,575,118	5,196,689
Depreciation	37,163	31,956	83,142	63,840
Total corporate expenses	1,977,045	2,215,509	4,658,260	5,260,529
Loss from operations	-4,182,101	-5,360,537	-8,425,056	-9,664,239
Other income and expense:	'	'	'	'
Interest expense	-9,908	-3,121	-249,626	-6,668
Interest and other income, net	-4,691	129,593	4,535	227,177
Net loss	($4,196,700)	($5,234,065)	($8,670,147)	($9,443,730)
Basic and diluted net loss per common share (in dollars per share)	($0.21)	($0.49)	($0.47)	($0.92)
Average weighted shares outstanding (in shares)	19,820,507	10,626,011	18,550,244	10,215,350

Condensed_Consolidated_Stateme1

Condensed Consolidated Statements of Cash Flows (USD $)	6 Months Ended
	Jun. 30, 2013	Jun. 30, 2012
Operating activities:	'	'
Net loss	($8,670,147)	($9,443,730)
Reconciliation of net loss to cash used in operations:	'	'
Accretion/amortization of asset retirement obligations	194,870	46,743
Depreciation and depletion	232,960	291,158
Impairment of uranium properties	679,655	751,772
Decrease in restoration and reclamation accrual	-933,897	-879,269
Stock compensation expense	183,316	311,797
Other non-cash items, net	73,795	609
Effect of changes in operating working capital items:	'	'
(Increase) decrease in receivables	270,876	-83,354
Decrease in prepaid and other current assets	35,773	46,242
Increase (decrease) in payables, accrued liabilities and deferred credits	-291,301	1,672,138
Net cash used in operating activities	-8,224,100	-7,285,894
Cash flows from investing activities:	'	'
(Increase) decrease in certificates of deposit, restricted	5,481,573	-46,715
Increase in note receivable	'	-3,156,765
Additions to uranium properties	-115,244	-978,867
Net cash provided by (used in) investing activities	5,366,329	-4,182,347
Cash flows from financing activities:	'	'
Payments on borrowings	-80,444	-31,702
Issuance of common stock, net	3,599,432	11,434,055
Net cash provided by financing activities	3,518,988	11,402,353
Net increase (decrease) in cash and cash equivalents	661,217	-65,888
Cash and cash equivalents, beginning of period	4,664,596	2,890,263
Cash and cash equivalents, end of period	5,325,813	2,824,375
Non-cash transactions:	'	'
Issuance of common stock for short term loan principal and interest payment	5,095,833	'
Issuance of common stock for services	291,500	'
Issuance of restricted stock to employees and directors	47	341
Capital lease obligations	'	$24,931

DESCRIPTION_OF_BUSINESS

DESCRIPTION OF BUSINESS	6 Months Ended
	Jun. 30, 2013
DESCRIPTION OF BUSINESS	'
DESCRIPTION OF BUSINESS	'
	1. DESCRIPTION OF BUSINESS
	Uranium Resources, Inc. (URI) is a uranium exploration, development and production company. We were organized in 1977 to acquire and develop uranium mines in South Texas using the in-situ recovery mining process (ISR). URI has historically produced uranium by ISR methods in the State of Texas where the Company currently has ISR mining projects, including two licensed processing facilities. We also have mineral holdings in New Mexico and a NRC license to produce up to 3 million pounds per annum of uranium on certain of its New Mexico projects. The Company acquired these properties over the past 20 years along with an extensive information database of historic mining logs and analysis. None of URI’s properties are currently in production.

BASIS_OF_PRESENTATION

BASIS OF PRESENTATION	6 Months Ended
	Jun. 30, 2013
BASIS OF PRESENTATION	'
BASIS OF PRESENTATION	'
	2. BASIS OF PRESENTATION
	The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America for interim financial information and with the instructions to Form 10-Q and Rule 10-01 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by accounting principles generally accepted in the United States of America for complete financial statements. The accompanying statements should be read in conjunction with the audited financial statements included in the Company’s 2012 Annual Report on Form 10-KA. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. Operating results for the six months ended June 30, 2013 are not necessarily indicative of the results that may be expected for any other period including the full year ending December 31, 2013.

RESTATEMENT

RESTATEMENT	6 Months Ended
	Jun. 30, 2013
RESTATEMENT	'
RESTATEMENT	'
	3. RESTATEMENT
	The Company determined that the capitalization of development costs primarily on its New Mexico mineral properties and to a lesser extent on its South Texas mineral properties was not in accordance with U.S. GAAP.  As a result, the Company has amended and restated its consolidated financial statements for the years ended December 31, 2012, 2011 and 2010, to reflect a cumulative adjustment to mineral property expenditures of $8,974,000 up to December 31, 2012.  These adjustments to property expenditures were previously capitalized as property, plant and equipment.
	The Company has also restated the March 31, 2013 and 2012 and the June 30, 2013and 2012 interim financial statements to expense certain costs previously capitalized as mineral property development costs. The Company has determined that its capitalization of these expenditures was not in accordance with U.S. GAAP.  As a result, the Company has amended and restated the interim consolidated balance sheet as of June 30, 2013 to expense $673,000 of costs incurred during the six month period ended June 30, 2013 that were previously capitalized as development costs to mineral property expenses.  The interim consolidated statements of operations for the six-month period ended June 30, 2013 and 2012 were amended and restated to expense $673,000 and $2,177,000, respectively, of costs previously capitalized as development costs to mineral property expenses.  Corresponding changes were made to the interim statements of cash flows for the six-months ended June 30, 2013 and 2012.
	Consolidated Balance Sheet
		June 30, 2013
		As Reported		Adjustment		As Restated
		$		$		$
	Assets
	Property, plant and equipment	109,566,339		(9,647,304	)	99,919,035
	Total Assets	53,837,593		(9,647,304	)	44,190,289
	Shareholders’ equity
	Accumulated deficit	(170,199,086	)	(9,647,304	)	(179,846,390	)
	Total shareholders’ equity	46,316,280		(9,647,304	)	36,668,976
	Total liabilities and shareholders’ equity	53,837,593		(9,647,304	)	44,190,289
	Consolidated Statement of Operations
		Three Months Ended June 30, 2013
		As Reported		Adjustment		As Restated
		$		$		$
	Mineral property expenses	652,455		350,114		1,002,569
	Total cost of uranium sales	1,854,942		350,114		2,205,056
	Loss from operations before corporate expenses	(1,854,942	)	(350,114	)	(2,205,056	)
	Loss from operations	(3,831,987	)	(350,114	)	(4,182,101	)
	Net loss	(3,846,586	)	(350,114	)	(4,196,700	)
	Basic and diluted net loss per common share	(0.19	)	(0.02	)	(0.21	)
	Consolidated Statement of Operations
		Six Months Ended June 30, 2013
		As Reported		Adjustment		As Restated
		$		$		$
	Mineral property expenses	751,360		672,969		1,424,329
	Total cost of uranium sales	3,093,827		672,969		3,766,796
	Loss from operations before corporate expenses	(3,093,827	)	(672,969	)	(3,766,796	)
	Loss from operations	(7,752,087	)	(672,969	)	(8,425,056	)
	Net loss	(7,997,178	)	(672,969	)	(8,670,147	)
	Basic and diluted net loss per common share	(0.43	)	(0.04	)	(0.47	)
	Consolidated Statement of Cash Flows
		Six Months Ended June 30, 2013
		As Reported		Adjustment		As Restated
		$		$		$
	Net Loss	(7,997,178	)	(672,969	)	(8,670,147	)
	Additions to uranium properties	(788,213	)	672,969		(115,244	)
	Consolidated Statement of Operations
		Three Months Ended June 30, 2012
		As Reported		Adjustment		As Restated
		$		$		$
	Mineral property expenses	30,744		1,573,386		1,604,130
	Total cost of uranium sales	1,571,642		1,573,386		3,145,028
	Loss from operations before corporate expenses	(1,571,642	)	(1,573,386	)	(3,145,028	)
	Loss from operations	(3,787,151	)	(1,573,386	)	(5,360,537	)
	Net Loss	(3,660,679	)	(1,573,386	)	(5,234,065	)
	Basic and diluted net loss per common share	(0.34	)	(0.15	)	(0.49	)
	Consolidated Statement of Operations
		Six Months Ended June 30, 2012
		As Reported		Adjustment		As Restated
		$		$		$
	Mineral property expenses	57,459		2,176,581		2,234,040
	Total cost of uranium sales	2,227,129		2,176,581		4,403,710
	Loss from operations before corporate expenses	(2,227,129	)	(2,176,581	)	(4,403,710	)
	Loss from operations	(7,487,658	)	(2,176,581	)	(9,664,239	)
	Net loss	(7,267,149	)	(2,176,581	)	(9,443,730	)
	Basic and diluted net loss per common share	(0.71	)	(0.21	)	(0.92	)
	Consolidated Statement of Cash Flows
		Six Months Ended June 30, 2012
		As Reported		Adjustment		As Restated
	$		$		$
Net loss	(7,267,149	)	(2,176,581	)	(9,443,730	)
Additions to uranium properties	(3,155,448	)	2,176,581		(978,867	)

LIQUIDITY

LIQUIDITY	6 Months Ended
	Jun. 30, 2013
LIQUIDITY	'
LIQUIDITY	'
	4. LIQUIDITY
	The Company had negative cash flow from operations of $8.2 million for the six months ended June 30, 2013. Our cash position was $5.3 million at June 30, 2013 and $4.25 million at July 31, 2013. The Company is not currently commercially producing uranium and, as such, does not anticipate generating any significant sales revenues in 2013.
	In March 2013, the Company completed a Shareholder Rights Offering (“Rights Offering”) whereby the Company received $3.6 million in cash, net of expenses and $5.0 million was used to repay the short term financing from Resource Capital Fund V L.P. (“RCF”).
	In February 2013, the Company secured a new source to satisfy its financial surety obligations for the Texas regulatory agencies. Previously, the Company had met its financial surety obligations through a combination of bank issued letters of credit (the “L/Cs”) and bonds issued for the benefit of the Company. These financial surety arrangements required the Company to fully collateralize the face amount of the L/C’s and the bonds with short term investment vehicles. This requirement resulted in the Company posting $9.3 million in cash that was restricted for the purpose of collateralizing these obligations. The Company’s new financial surety arrangements are provided by Lexon Insurance Company (“Lexon”) in the form of bonds issued for the benefit of the Company. The amount of the bonds written by Lexon total approximately $9.0 million and the collateral requirements of these bonds requires the Company to maintain 40% of the value of the bonds in the form of restricted cash. This change in collateral requirement occurred in April 2013 and reduced the amount of restricted cash required by the Company to $3.6 million and resulted in a corresponding increase in cash to the Company of $5.4 million.
	In the fourth quarter of 2011, the Company entered into an At-The-Market Sales Agreement with BTIG, LLC, allowing it to sell from time to time, its common shares having an aggregate offering price of up to $15.0 million, through an “at-the-market” equity offering program (“ATM Sales Agreement”). The Company did not make any sales under the ATM Sales Agreement in the second quarter of 2013 and has a total of $9.0 million available for future sales under the ATM Sales Agreement.
	The Company expects that its existing cash and funding available under the ATM Sales Agreement will provide it the necessary liquidity moving forward for 2013. Additional funding available under the ATM Sales Agreement is subject to market conditions. In the event funds are not available, we may be required to change our planned business strategies.

PROPERTY_PLANT_AND_EQUIPMENT

PROPERTY, PLANT AND EQUIPMENT	6 Months Ended
	Jun. 30, 2013
PROPERTY, PLANT AND EQUIPMENT	'
PROPERTY, PLANT AND EQUIPMENT	'
	5. PROPERTY, PLANT AND EQUIPMENT
	Certain of the balances presented below have been restated as described in Note 3:
		Property, Plant and
		Equipment, net at:
		6/30/13		12/31/12
		(Restated)		(Restated)
	Uranium plant	$	9,478,000	$	9,532,000
	Permits and licenses	174,000		174,000
	Mineral rights and properties	20,874,000		20,872,000
	Evaluation and delineation	2,022,000		2,022,000
	Vehicles/depreciable equipment	1,273,000		1,435,000
	Other property, plant and equipment	632,000		705,000
	Total	$	34,453,000	$	34,740,000
	Impairment of Uranium Properties
	At June 30, 2013 and 2012, the carrying value of the project assets at each of our South Texas production locations exceeded their fair value as a result of a decline in the market price of uranium and an increase in the estimated costs for each of our South Texas projects.
	Such determination resulted in an impairment provision of approximately $680,000 and $752,000 for the first six months of 2013 and 2012, respectively. The impairment provision for the first six months of 2013 and 2012 respectively, was $394,000 and $321,000 related to Kingsville Dome, $276,000 and $401,000 related to Vasquez, and $10,000 and $30,000 related to for Rosita.
	The net carrying values of the Kingsville Dome, Rosita and Vasquez projects are approximately $5.4 million, $4.9 million and $405,000 at June 30, 2013.

SHAREHOLDERS_EQUITY

SHAREHOLDERS' EQUITY	6 Months Ended
	Jun. 30, 2013
SHAREHOLDERS' EQUITY	'
SHAREHOLDERS' EQUITY	'
	6. SHAREHOLDERS’ EQUITY
	Reverse Stock Split
	Immediately following the close of trading on January 22, 2013, the Company completed a 1 for 10 reverse stock split for its common stock. With the reverse stock split, every ten shares of the Company’s issued and outstanding common stock were combined into one issued and outstanding share of common stock. The reverse stock split had no effect on the par value of the shares or the authorized number of shares of the Company. The reverse split reduced the number of URI’s outstanding common stock from approximately 161.1 million shares to approximately 16.1 million shares. All share data herein has been retroactively adjusted for the reverse stock split as of December 31, 2012.
	The following table details the changes in shareholders’ equity for the six months ended June 30, 2013:
		Common Stock			Paid-In			Accumulated			Treasury
		Shares	Amount		Capital			Deficit			Stock
								(Restated)
	Balances, December 31, 2012, as reported	16,150,163	$	16,154	$	207,338,549		$	(162,201,908	)	$	(9,418	)
	Prior period adjustment	—	—		—			(8,974,335		)	—
	Balances, December 31, 2012, as restated	16,150,163	16,154		207,338,549			(171,176,243		)	(9,418		)
	Net loss, as restated	—	—		—			(8,670,147		)	—
	Stock compensation expense	—	—		183,316			—			—
	Common stock issued — payment of loan principal and interest	1,992,127	1,992		5,093,841			—			—
	Common stock issued — shareholder rights offering	1,547,843	1,548		3,597,884			—			—
	Common stock issued for services	83,200	83		291,417			—			—
	Restricted stock issuance	46,925	47		(47		)	—			—
	Balances, June 30, 2013, as restated	19,820,258	$	19,824	$	216,504,960		$	(179,846,390	)	$	(9,418	)
	See Note 7 — Stock Based Compensation for further discussion of stock compensation expense and restricted stock issuance.
	Equity Infusion—Shareholder Rights Offering
	In March 2013, the Company completed the Rights Offering, whereby each URI shareholder and warrant holder received one non-transferrable subscription right for each share of common stock owned or subject to a warrant as of 5:00pm ET on January 28, 2013. Every subscription right entitled the holder to purchase 0.3119 of a share of common stock of URI at a price of $2.55 per whole share.
	Under the Rights Offering, the Company raised $3.6 million in cash, net of expenses and $5.0 million was used to repay the short term financing from RCF, whereby RCF was issued 1.96 million shares of the Company’s common stock. Also in connection with the RCF loan facility, the Company issued 31,343 shares of common stock in 2013 to pay fourth quarter 2012 and first quarter 2013 interest accrued on the loan of $16,667 and $79,167, respectively.

STOCK_BASED_COMPENSATION

STOCK BASED COMPENSATION	6 Months Ended
	Jun. 30, 2013
STOCK BASED COMPENSATION	'
STOCK BASED COMPENSATION	'
	7. STOCK BASED COMPENSATION
	Our stock based compensation programs consist of stock option and restricted stock grants made to employees and directors.
	2013 Omnibus Incentive Plan
	In June 2013, the Company’s stockholders and Board approved the 2013 Omnibus Incentive Plan (“2013 OIP”) that governs all future awards of stock options, stock appreciation rights, restricted stock, restricted stock units, unrestricted stock, dividend equivalent rights, performance shares and other performance-based awards, other equity-based awards, and cash bonus awards. A total of approximately 1 million shares are available to be issued under the 2013 OIP.
	Stock Compensation Expense
	Stock compensation expense for the six months ended June 30, 2013 and 2012 was $183,000 and $312,000, respectively. Stock compensation expense is recorded as a component of general and administrative expenses for each period. The Company did not recognize a tax benefit from the stock compensation expense because the Company considers it is more likely than not that the related deferred tax assets, which have been reduced by a full valuation allowance, will not be realized.
	On January 16, 2013, the Company granted 5,000 stock options to a newly appointed non-employee director of the Company to purchase shares of the Company’s common stock.
	On March 12, 2013, the Company granted 25,000 restricted shares of the Company’s common stock to the new President and Chief Executive Officer, subject to service and performance vesting criteria over a three-year period. The weighted average fair value for this issuance was $2.73. The Company recognized stock compensation expense of $7,000.
	On March 12, 2013, the Company also granted to the new President and Chief Executive Officer 55,000 stock options to purchase common stock of the Company, subject to service and performance vesting criteria over a three-year period. The weighted average fair value for this issuance was $1.98. The Company recognized stock compensation expense of $11,000.
	On March 12, 2013, the Company granted 25,000 restricted shares of the Company’s common stock to a former executive of the Company in connection with a separation agreement signed with the executive. The Company recognized stock compensation expense for the restricted share grants of $43,000 in the first half of 2013 in connection with this issuance. In addition, the Company extended the exercise period for certain previously issued stock options for this former executive and recognized stock compensation expense for this modification of $134,000 in the first half of 2013.
	On June 4, 2013, the Compensation Committee approved a grant of 100,000 shares of restricted stock units under the 2013 OIP to the President and Chief Executive Officer, subject to specific vesting criteria over a three-year period. The weighted average fair value for this issuance was $2.83. The Company recognized stock compensation expense of $6,000 in connection with this issuance.
	On June 4, 2013, the Board also approved a grant of a total of 100,000 restricted stock units under the 2013 OIP to the Company’s non-employee Directors, subject to specific vesting criteria over a three-year period. The weighted average fair value for this issuance was $2.83. The Company recognized stock compensation expense of $7,000 in connection with this issuance.
	The fair value of stock options and restricted shares granted to employees and directors was estimated on the dates of the grants using the Black-Scholes option pricing model with the following assumptions used for the grants made during the period:
	Risk free rate	2.16% - 1.40%
	Expected life	5.7 — 7.8 years
	Expected volatility	84% - 89%
	Expected dividend yield	0.00%
	The total estimated unrecognized compensation cost from the unvested stock options and restricted grants at June 30, 2013 was approximately $904,000, which is expected to be recognized over the weighted average vesting period of the individual grants which range from 1-3 years.
	Stock Options for the Six Months Ended June 30, 2013
	The following table summarizes stock options outstanding and changes during the six month period ended June 30, 2013:
		Outstanding Options
		Number of	Weighted			Weighted	Aggregate
		Shares	Average			Average	Intrinsic
			Exercise			Remaining	Value
			Price			Contractual
						Term —in
						years
	Options outstanding at January 1, 2013	317,270	$	24.62
	Granted	60,000	2.85
	Exercised	—	—
	Canceled or forfeited	72,791	25.9
	Options outstanding at June 30, 2013	304,479	$	20.02		4.31	$	—
	Options exercisable at June 30, 2013	226,980	$	25.57		2.51	$	—
	Shares available for grant under the Company’s stock option plans as of June 30, 2013 were 987,914.
	Stock options outstanding and currently exercisable at June 30, 2013 are as follows:
		Options Outstanding					Options Exercisable
	Stock Option Plan	Number of	Weighted		Weighted		Number of		Weighted
		Options	Average		Average		Options		Average
		Outstanding	Remaining		Exercise		Exercisable		Exercise
			Contractual		price				Price
			Life
			(in years)
	1995 Stock Incentive Plan	145,906	1.1		$	13.46	145,906		$	13.46
	2004 Stock Incentive Plan	85,241	8		13.92		29,408		34.74
	2004 Directors’ Plan	73,332	6.4		40.19		51,666		54.57
		304,479	4.3		$	20.02	226,980		$	25.57

ASSET_RETIREMENT_OBLIGATIONS

ASSET RETIREMENT OBLIGATIONS	6 Months Ended
	Jun. 30, 2013
ASSET RETIREMENT OBLIGATIONS	'
ASSET RETIREMENT OBLIGATIONS	'
	8. ASSET RETIREMENT OBLIGATIONS
	The following table shows the change in the balance of the restoration and reclamation liability during the six months ended June 30, 2013:
	Reserve for future restoration and reclamation costs, beginning of year	$	4,498,057
	Additions and changes in cash flow estimates	584,025
	Costs incurred	(933,897		)
	Accretion expense	194,870
	Reserve for future restoration and reclamation costs, end of period	$	4,343,055

EARNINGS_PER_SHARE

EARNINGS PER SHARE	6 Months Ended
	Jun. 30, 2013
EARNINGS PER SHARE	'
EARNINGS PER SHARE	'
	9. EARNINGS PER SHARE
	The basic earnings per share calculation includes no dilution and is computed by dividing income or loss attributed to common stockholders by the weighted-average number of common shares outstanding for the period. The diluted earnings per share reflects the potential dilution that could occur if stock options and warrants were exercised or converted into common stock. Potentially dilutive shares of 451,764 were excluded from the calculation of earnings per share because they were anti-dilutive due to our net loss position for the six months ended June 30, 2013.

COMMITMENTS_AND_CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	6 Months Ended
	Jun. 30, 2013
COMMITMENTS AND CONTINGENCIES	'
COMMITMENTS AND CONTINGENCIES	'
	10. COMMITMENTS AND CONTINGENCIES
	In July 2013, the Company amended its uranium supply contract with Itochu Corporation (“Itochu”) to include a new sales pricing structure, new delivery dates and quantity levels. Pursuant to the amended agreement, Itochu would purchase one-half of all production from the Company’s Vasquez, Rosita or Kingsville properties up to three million pounds of U3O8. Any new production outside of those areas is not subject to the agreement. The purchase price will be based on published market prices at the time of delivery subject to a five percent discount when the market price is $56.50 per pound of U3O8 or less, or seven percent when greater than $56.50 per pound.
	The Company’s mining operations are subject to federal and state regulations for the protection of the environment, including water quality. These laws are constantly changing and generally becoming more restrictive. The ongoing costs of complying with such regulations have not been significant to the Company’s annual operating costs. Future mine closure and reclamation costs are provided for as each pound of uranium is produced on a unit-of-production basis. The Company reviews its reclamation obligations each year and determines the appropriate unit charge. The Company also evaluates the status of current environmental laws and their potential impact on their accrual for costs. The Company believes its operations are in compliance with current environmental regulations.
	The Company is from time to time involved in various legal proceedings of a character normally incident to its business. Management believes it has meritorious defenses in all such proceedings and is not aware of any material adverse effect on the Company’s financial condition or results of operations from such proceedings.
	Registration Statement
	In connection with our May 2008 private placement and the March 2012 investment agreement with RCF, the Company executed a registration rights agreement pursuant to which the shares issued in the private placement and under the investment agreement were registered. The registration rights agreement provides for penalties in the event the registration statement fails to remain effective. At June 30, 2013, the Company’s registration statements were and remain effective.
	Employment Agreements
	The Company has entered into employment agreements with the certain of the Executive Officers of the Company, that provide that, in the event of a change in control, such officers will have certain rights and benefits for a period of twenty-four months following such change in control. The employment agreements provide that the executive’s base salary payments shall be made on a monthly basis for the duration of the term and any incentive payments shall be paid annually until the obligation to make such payments expires.
	In March 2013, the Company entered into a Employment Agreement with the Company’s new President and Chief Executive Officer with a one-year term. In the event his employment is terminated following a change in control, he would be entitled to two year’s base salary payable in a lump sum within 30 days after his termination date. In the event the Company terminates the Employment Agreement during its term, other than for cause or elects not to renew the Employment Agreement at the conclusion of its term, he would be entitled to one year’s base salary payable in a lump sum within 30 days after his termination date.
	In June 2013, the Company entered into a Employment Agreement with the Company’s new Vice President — Finance and Chief Financial Officer with a one-year term.  In the event his employment is terminated following a change in control, he would be entitled to one year’s base salary payable in a lump sum within 30 days after his termination date. In the event the Company terminates the Employment Agreement during its term, other than for cause or elects not to renew the Employment Agreement at the conclusion of its terms, he would be entitled to six month’s base salary payable in a lump sum within 30 days after his termination date.

SUBSEQUENT_EVENT

SUBSEQUENT EVENT	6 Months Ended
	Jun. 30, 2013
SUBSEQUENT EVENT	'
SUBSEQUENT EVENT	'
	11. SUBSEQUENT EVENT
	On August 2, 2013, Thomas H. Ehrlich, the Company’s former chief financial officer, filed a complaint against the Company in the District Court of Denton County, Texas, Cause No. 2013-61011-393. The complaint alleges that the Company breached a compensation agreement between the Company and Mr. Ehrlich that provided for certain payments to Mr. Ehrlich upon certain change in control events. While the Company is still evaluating the complaint and cannot estimate the timing or estimated amount, if any, associated with the outcome, the Company does not believe it will have a material adverse impact on the Company’s financial position, results of operations or liquidity. The Company intends to vigorously defend any assertions related to the above lawsuit.

RESTATEMENT_Tables

RESTATEMENT (Tables)	6 Months Ended
	Jun. 30, 2013
RESTATEMENT	'
Schedule of effects of the restatement adjustments on financial statements	'
	Consolidated Balance Sheet
		June 30, 2013
		As Reported		Adjustment		As Restated
		$		$		$
	Assets
	Property, plant and equipment	109,566,339		(9,647,304	)	99,919,035
	Total Assets	53,837,593		(9,647,304	)	44,190,289
	Shareholders’ equity
	Accumulated deficit	(170,199,086	)	(9,647,304	)	(179,846,390	)
	Total shareholders’ equity	46,316,280		(9,647,304	)	36,668,976
	Total liabilities and shareholders’ equity	53,837,593		(9,647,304	)	44,190,289
	Consolidated Statement of Operations
		Three Months Ended June 30, 2013
		As Reported		Adjustment		As Restated
		$		$		$
	Mineral property expenses	652,455		350,114		1,002,569
	Total cost of uranium sales	1,854,942		350,114		2,205,056
	Loss from operations before corporate expenses	(1,854,942	)	(350,114	)	(2,205,056	)
	Loss from operations	(3,831,987	)	(350,114	)	(4,182,101	)
	Net loss	(3,846,586	)	(350,114	)	(4,196,700	)
	Basic and diluted net loss per common share	(0.19	)	(0.02	)	(0.21	)
	Consolidated Statement of Operations
		Six Months Ended June 30, 2013
		As Reported		Adjustment		As Restated
		$		$		$
	Mineral property expenses	751,360		672,969		1,424,329
	Total cost of uranium sales	3,093,827		672,969		3,766,796
	Loss from operations before corporate expenses	(3,093,827	)	(672,969	)	(3,766,796	)
	Loss from operations	(7,752,087	)	(672,969	)	(8,425,056	)
	Net loss	(7,997,178	)	(672,969	)	(8,670,147	)
	Basic and diluted net loss per common share	(0.43	)	(0.04	)	(0.47	)
	Consolidated Statement of Cash Flows
		Six Months Ended June 30, 2013
		As Reported		Adjustment		As Restated
		$		$		$
	Net Loss	(7,997,178	)	(672,969	)	(8,670,147	)
	Additions to uranium properties	(788,213	)	672,969		(115,244	)
	Consolidated Statement of Operations
		Three Months Ended June 30, 2012
		As Reported		Adjustment		As Restated
		$		$		$
	Mineral property expenses	30,744		1,573,386		1,604,130
	Total cost of uranium sales	1,571,642		1,573,386		3,145,028
	Loss from operations before corporate expenses	(1,571,642	)	(1,573,386	)	(3,145,028	)
	Loss from operations	(3,787,151	)	(1,573,386	)	(5,360,537	)
	Net Loss	(3,660,679	)	(1,573,386	)	(5,234,065	)
	Basic and diluted net loss per common share	(0.34	)	(0.15	)	(0.49	)
	Consolidated Statement of Operations
		Six Months Ended June 30, 2012
		As Reported		Adjustment		As Restated
		$		$		$
	Mineral property expenses	57,459		2,176,581		2,234,040
	Total cost of uranium sales	2,227,129		2,176,581		4,403,710
	Loss from operations before corporate expenses	(2,227,129	)	(2,176,581	)	(4,403,710	)
	Loss from operations	(7,487,658	)	(2,176,581	)	(9,664,239	)
	Net loss	(7,267,149	)	(2,176,581	)	(9,443,730	)
	Basic and diluted net loss per common share	(0.71	)	(0.21	)	(0.92	)
	Consolidated Statement of Cash Flows
		Six Months Ended June 30, 2012
		As Reported		Adjustment		As Restated
		$		$		$
	Net loss	(7,267,149	)	(2,176,581	)	(9,443,730	)
	Additions to uranium properties	(3,155,448	)	2,176,581		(978,867	)

PROPERTY_PLANT_AND_EQUIPMENT_T

PROPERTY, PLANT AND EQUIPMENT (Tables)	6 Months Ended
	Jun. 30, 2013
PROPERTY, PLANT AND EQUIPMENT	'
Schedule of property, plant and equipment	'
		Property, Plant and
		Equipment, net at:
		6/30/13		12/31/12
		(Restated)		(Restated)
	Uranium plant	$	9,478,000	$	9,532,000
	Permits and licenses	174,000		174,000
	Mineral rights and properties	20,874,000		20,872,000
	Evaluation and delineation	2,022,000		2,022,000
	Vehicles/depreciable equipment	1,273,000		1,435,000
	Other property, plant and equipment	632,000		705,000
	Total	$	34,453,000	$	34,740,000

SHAREHOLDERS_EQUITY_Tables

SHAREHOLDERS' EQUITY (Tables)	6 Months Ended
	Jun. 30, 2013
SHAREHOLDERS' EQUITY	'
Schedule of changes in shareholders' equity	'
		Common Stock			Paid-In			Accumulated			Treasury
		Shares	Amount		Capital			Deficit			Stock
								(Restated)
	Balances, December 31, 2012, as reported	16,150,163	$	16,154	$	207,338,549		$	(162,201,908	)	$	(9,418	)
	Prior period adjustment	—	—		—			(8,974,335		)	—
	Balances, December 31, 2012, as restated	16,150,163	16,154		207,338,549			(171,176,243		)	(9,418		)
	Net loss, as restated	—	—		—			(8,670,147		)	—
	Stock compensation expense	—	—		183,316			—			—
	Common stock issued — payment of loan principal and interest	1,992,127	1,992		5,093,841			—			—
	Common stock issued — shareholder rights offering	1,547,843	1,548		3,597,884			—			—
	Common stock issued for services	83,200	83		291,417			—			—
	Restricted stock issuance	46,925	47		(47		)	—			—
	Balances, June 30, 2013, as restated	19,820,258	$	19,824	$	216,504,960		$	(179,846,390	)	$	(9,418	)

STOCK_BASED_COMPENSATION_Table

STOCK BASED COMPENSATION (Tables)	6 Months Ended
	Jun. 30, 2013
STOCK BASED COMPENSATION	'
Schedule of assumptions used to estimate fair value of stock options and restricted shares granted to employees and directors	'
	Risk free rate	2.16% - 1.40%
	Expected life	5.7 — 7.8 years
	Expected volatility	84% - 89%
	Expected dividend yield	0.00%
Summary of stock options outstanding	'
		Outstanding Options
		Number of	Weighted			Weighted	Aggregate
		Shares	Average			Average	Intrinsic
			Exercise			Remaining	Value
			Price			Contractual
						Term —in
						years
	Options outstanding at January 1, 2013	317,270	$	24.62
	Granted	60,000	2.85
	Exercised	—	—
	Canceled or forfeited	72,791	25.9
	Options outstanding at June 30, 2013	304,479	$	20.02		4.31	$	—
	Options exercisable at June 30, 2013	226,980	$	25.57		2.51	$	—
Schedule of stock options outstanding and currently exercisable	'
		Options Outstanding					Options Exercisable
	Stock Option Plan	Number of	Weighted		Weighted		Number of		Weighted
		Options	Average		Average		Options		Average
		Outstanding	Remaining		Exercise		Exercisable		Exercise
			Contractual		price				Price
			Life
			(in years)
	1995 Stock Incentive Plan	145,906	1.1		$	13.46	145,906		$	13.46
	2004 Stock Incentive Plan	85,241	8		13.92		29,408		34.74
	2004 Directors’ Plan	73,332	6.4		40.19		51,666		54.57
		304,479	4.3		$	20.02	226,980		$	25.57

ASSET_RETIREMENT_OBLIGATIONS_T

ASSET RETIREMENT OBLIGATIONS (Tables)	6 Months Ended
	Jun. 30, 2013
ASSET RETIREMENT OBLIGATIONS	'
Schedule of change in the balance of the restoration and reclamation liability	'
	Reserve for future restoration and reclamation costs, beginning of year	$	4,498,057
	Additions and changes in cash flow estimates	584,025
	Costs incurred	(933,897		)
	Accretion expense	194,870
	Reserve for future restoration and reclamation costs, end of period	$	4,343,055

DESCRIPTION_OF_BUSINESS_Detail

DESCRIPTION OF BUSINESS (Details)	6 Months Ended
	Jun. 30, 2013
	item
DESCRIPTION OF BUSINESS	'
Number of licensed processing facilities	2
Maximum uranium entity licensed to produce (in pounds per year)	3,000,000
Period over which properties were acquired	'20 years
Number of properties currently in production	0

RESTATEMENT_Details

RESTATEMENT (Details) (USD $)	3 Months Ended		6 Months Ended			3 Months Ended		6 Months Ended		3 Months Ended		6 Months Ended		36 Months Ended
	Jun. 30, 2013	Jun. 30, 2012	Jun. 30, 2013	Jun. 30, 2012	Dec. 31, 2012	Jun. 30, 2013	Jun. 30, 2012	Jun. 30, 2013	Jun. 30, 2012	Jun. 30, 2013	Jun. 30, 2012	Jun. 30, 2013	Jun. 30, 2012	Dec. 31, 2012
						As Reported	As Reported	As Reported	As Reported	Adjustment	Adjustment	Adjustment	Adjustment	Adjustments to property expenditures
														Adjustment
Cumulative adjustment to mineral property expenditures	'	'	'	'	'	'	'	'	'	'	'	'	'	$8,974,000
Assets	'	'	'	'	'	'	'	'	'	'	'	'	'	'
Property, plant and equipment	99,919,035	'	99,919,035	'	100,058,667	109,566,339	'	109,566,339	'	-9,647,304	'	-9,647,304	'	'
Total Assets	44,190,289	'	44,190,289	'	49,604,435	53,837,593	'	53,837,593	'	-9,647,304	'	-9,647,304	'	'
Shareholders' equity	'	'	'	'	'	'	'	'	'	'	'	'	'	'
Accumulated deficit	-179,846,390	'	-179,846,390	'	-171,176,243	-170,199,086	'	-170,199,086	'	-9,647,304	'	-9,647,304	'	'
Total shareholders' equity	36,668,976	'	36,668,976	'	36,169,042	46,316,280	'	46,316,280	'	-9,647,304	'	-9,647,304	'	'
Total liabilities and shareholders' equity	44,190,289	'	44,190,289	'	49,604,435	53,837,593	'	53,837,593	'	-9,647,304	'	-9,647,304	'	'
Consolidated Statement of Operations	'	'	'	'	'	'	'	'	'	'	'	'	'	'
Mineral property expenses	1,002,569	1,604,130	1,424,329	2,234,040	'	652,455	30,744	751,360	57,459	350,114	1,573,386	672,969	2,176,581	'
Total cost of uranium sales	2,205,056	3,145,028	3,766,796	4,403,710	'	1,854,942	1,571,642	3,093,827	2,227,129	350,114	1,573,386	672,969	2,176,581	'
Loss from operations before corporate expenses	-2,205,056	-3,145,028	-3,766,796	-4,403,710	'	-1,854,942	-1,571,642	-3,093,827	-2,227,129	-350,114	-1,573,386	-672,969	-2,176,581	'
Loss from operations	-4,182,101	-5,360,537	-8,425,056	-9,664,239	'	-3,831,987	-3,787,151	-7,752,087	-7,487,658	-350,114	-1,573,386	-672,969	-2,176,581	'
Net loss	-4,196,700	-5,234,065	-8,670,147	-9,443,730	'	-3,846,586	-3,660,679	-7,997,178	-7,267,149	-350,114	-1,573,386	-672,969	-2,176,581	'
Basic and diluted net loss per common share (in dollars per share)	($0.21)	($0.49)	($0.47)	($0.92)	'	($0.19)	($0.34)	($0.43)	($0.71)	($0.02)	($0.15)	($0.04)	($0.21)	'
Consolidated Statement of Cash Flows	'	'	'	'	'	'	'	'	'	'	'	'	'	'
Net loss	-4,196,700	-5,234,065	-8,670,147	-9,443,730	'	-3,846,586	-3,660,679	-7,997,178	-7,267,149	-350,114	-1,573,386	-672,969	-2,176,581	'
Additions to uranium properties	'	'	($115,244)	($978,867)	'	'	'	($788,213)	($3,155,448)	'	'	$672,969	$2,176,581	'

LIQUIDITY_Details

LIQUIDITY (Details) (USD $)	6 Months Ended					1 Months Ended				1 Months Ended
	Jun. 30, 2013	Jun. 30, 2012	Jul. 31, 2013	Dec. 31, 2012	Dec. 31, 2011	Mar. 31, 2013	Mar. 31, 2013	Jun. 30, 2013	Dec. 31, 2011	Apr. 30, 2013	Feb. 28, 2013
						Rights offering	RCF	BTIG, LLC	BTIG, LLC	Lexon	Lexon
							Rights offering	ATM Sales Agreement	Maximum
							Short term financing		ATM Sales Agreement
LIQUIDITY	'	'	'	'	'	'	'	'	'	'	'
Negative cash flow from operations	$8,224,100	$7,285,894	'	'	'	'	'	'	'	'	'
Cash	5,325,813	2,824,375	4,250,000	4,664,596	2,890,263	'	'	'	'	'	'
LIQUIDITY	'	'	'	'	'	'	'	'	'	'	'
Net proceeds from sale of shares of common stock in cash	'	'	'	'	'	3,600,000	'	'	'	'	'
Short term financing repaid	'	'	'	'	'	'	5,000,000	'	'	'	'
Restricted cash	4,010,292	'	'	9,491,865	'	'	'	'	'	3,600,000	9,300,000
Amount of the bonds written by the insurer	'	'	'	'	'	'	'	'	'	'	9,000,000
Required collateral as a percentage of bond amount (as a percent)	'	'	'	'	'	'	'	'	'	'	40.00%
Increase in cash	'	'	'	'	'	'	'	'	'	5,400,000	'
Aggregate offering price of the shares of common stock available to be sold under ATM Sales Agreement	'	'	'	'	'	'	'	$9,000,000	$15,000,000	'	'

PROPERTY_PLANT_AND_EQUIPMENT_D

PROPERTY, PLANT AND EQUIPMENT (Details) (USD $)	3 Months Ended		6 Months Ended
	Jun. 30, 2013	Jun. 30, 2012	Jun. 30, 2013	Jun. 30, 2012	Dec. 31, 2012
PROPERTY, PLANT AND EQUIPMENT	'	'	'	'	'
Property, Plant and Equipment, net	$34,452,605	'	$34,452,605	'	$34,739,746
Impairment provision	400,226	482,849	679,655	751,772	'
Uranium plant	'	'	'	'	'
PROPERTY, PLANT AND EQUIPMENT	'	'	'	'	'
Property, Plant and Equipment, net	9,478,000	'	9,478,000	'	9,532,000
Permits and licenses	'	'	'	'	'
PROPERTY, PLANT AND EQUIPMENT	'	'	'	'	'
Property, Plant and Equipment, net	174,000	'	174,000	'	174,000
Mineral rights and properties	'	'	'	'	'
PROPERTY, PLANT AND EQUIPMENT	'	'	'	'	'
Property, Plant and Equipment, net	20,874,000	'	20,874,000	'	20,872,000
Evaluation and delineation	'	'	'	'	'
PROPERTY, PLANT AND EQUIPMENT	'	'	'	'	'
Property, Plant and Equipment, net	2,022,000	'	2,022,000	'	2,022,000
Vehicles/depreciable equipment	'	'	'	'	'
PROPERTY, PLANT AND EQUIPMENT	'	'	'	'	'
Property, Plant and Equipment, net	1,273,000	'	1,273,000	'	1,435,000
Other property, plant and equipment	'	'	'	'	'
PROPERTY, PLANT AND EQUIPMENT	'	'	'	'	'
Property, Plant and Equipment, net	632,000	'	632,000	'	705,000
Kingsville Dome Property	'	'	'	'	'
PROPERTY, PLANT AND EQUIPMENT	'	'	'	'	'
Impairment provision	'	'	394,000	321,000	'
Net carrying value of the property	5,400,000	'	5,400,000	'	'
Vasquez Property	'	'	'	'	'
PROPERTY, PLANT AND EQUIPMENT	'	'	'	'	'
Impairment provision	'	'	276,000	401,000	'
Net carrying value of the property	405,000	'	405,000	'	'
Rosita Property	'	'	'	'	'
PROPERTY, PLANT AND EQUIPMENT	'	'	'	'	'
Impairment provision	'	'	10,000	30,000	'
Net carrying value of the property	$4,900,000	'	$4,900,000	'	'

SHAREHOLDERS_EQUITY_Details

SHAREHOLDERS' EQUITY (Details) (USD $)

0 Months Ended

3 Months Ended

6 Months Ended

3 Months Ended

6 Months Ended

3 Months Ended

6 Months Ended

1 Months Ended

3 Months Ended

7 Months Ended

1 Months Ended

6 Months Ended

6 Months Ended

6 Months Ended

12 Months Ended

Jan. 22, 2013

Jun. 30, 2013

Jun. 30, 2012

Jun. 30, 2013

Jun. 30, 2012

Jun. 30, 2013

Jun. 30, 2012

Jun. 30, 2013

Jun. 30, 2012

Jun. 30, 2013

Jun. 30, 2012

Jun. 30, 2013

Jun. 30, 2012

Mar. 31, 2013

Mar. 31, 2013

Dec. 31, 2012

Aug. 13, 2013

Mar. 31, 2013

Jun. 30, 2013

Dec. 31, 2012

Jun. 30, 2013

Dec. 31, 2012

Jun. 30, 2013

Dec. 31, 2012

Dec. 31, 2012

Jun. 30, 2013

Dec. 31, 2012

Dec. 31, 2012

As Reported

As Reported

As Reported

As Reported

Restatement adjustment

Restatement adjustment

Restatement adjustment

Restatement adjustment

Rights offering

RCF

RCF

RCF

RCF

Common Stock

Common Stock

Paid-In Capital

Paid-In Capital

Accumulated Deficit

Accumulated Deficit

Accumulated Deficit

Treasury Stock

Treasury Stock

Treasury Stock

item

Short term financing

Short term financing

Short term financing

Rights offering

As Reported

As Reported

As Reported

Restatement adjustment

As Reported

Short term financing

SHAREHOLDERS' EQUITY

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Reverse stock split ratio

0.1

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Common stock outstanding before reverse stock split (in shares)

161,100,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Common stock, shares outstanding

16,100,000

19,820,258

'

19,820,258

'

'

'

'

'

'

'

'

'

'

'

'

'

'

19,820,258

16,150,163

'

'

'

'

'

'

'

'

Changes in shareholders equity

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Balance at the beginning of the period (in shares)

'

'

'

16,150,163

'

'

'

'

'

'

'

'

'

'

'

'

'

'

16,150,163

16,150,163

'

'

'

'

'

'

'

'

Balance at the beginning of the period

'

'

'

$36,169,042

'

'

'

'

'

'

'

'

'

'

'

'

'

'

$16,154

$16,154

$207,338,549

$207,338,549

($171,176,243)

($162,201,908)

'

($9,418)

($9,418)

($9,418)

Prior period adjustment

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

-8,974,335

'

'

'

Net loss, as restated

'

-4,196,700

-5,234,065

-8,670,147

-9,443,730

-3,846,586

-3,660,679

-7,997,178

-7,267,149

-350,114

-1,573,386

-672,969

-2,176,581

'

'

'

'

'

'

'

'

'

-8,670,147

'

'

'

'

'

Stock compensation expense

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

183,316

'

'

'

'

'

'

'

Common stock issued - payment of loan principal and interest (in shares)

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

31,343

'

1,992,127

'

'

'

'

'

'

'

'

'

Common stock issued - payment of loan principal and interest

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

1,992

'

5,093,841

'

'

'

'

'

'

'

Common stock issued - shareholder rights offering (in shares)

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

1,547,843

'

'

'

'

'

'

'

'

'

Common stock issued - shareholder rights offering

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

1,548

'

3,597,884

'

'

'

'

'

'

'

Common stock issued for services (in shares)

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

83,200

'

'

'

'

'

'

'

'

'

Common stock issued for services

'

'

'

291,500

'

'

'

'

'

'

'

'

'

'

'

'

'

'

83

'

291,417

'

'

'

'

'

'

'

Restricted stock issuance (in shares)

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

246,925

'

'

'

'

'

'

'

'

'

Restricted stock issuance

'

'

'

47

341

'

'

'

'

'

'

'

'

'

'

'

'

'

47

'

-47

'

'

'

'

'

'

'

Balance at the end of the period (in shares)

16,100,000

19,820,258

'

19,820,258

'

'

'

'

'

'

'

'

'

'

'

'

'

'

19,820,258

16,150,163

'

'

'

'

'

'

'

'

Balance at the end of the period

'

36,668,976

'

36,668,976

'

46,316,280

'

46,316,280

'

-9,647,304

'

-9,647,304

'

'

'

'

'

'

19,824

16,154

216,504,960

207,338,549

-179,846,390

-162,201,908

'

-9,418

-9,418

-9,418

Short term financing repaid

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

5,000,000

'

'

'

'

'

'

'

'

'

'

Number of shares of common stock issued upon conversion

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

1,960,000

'

'

'

'

'

'

'

'

'

'

Interest accrued on the loan

'

'

'

'

'

'

'

'

'

'

'

'

'

'

79,167

16,667

'

'

'

'

'

'

'

'

'

'

'

'

Number of subscription rights issued for each share of common stock owned or subject to a warrant

'

'

'

'

'

'

'

'

'

'

'

'

'

1

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Number of non-transferrable subscription rights received (in shares)

'

'

'

'

'

'

'

'

'

'

'

'

'

0.3119

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Exercise price (in dollars per share)

'

'

'

'

'

'

'

'

'

'

'

'

'

$2.55

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Net proceeds from sale of shares of common stock in cash

'

'

'

'

'

'

'

'

'

'

'

'

'

$3,600,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

STOCK_BASED_COMPENSATION_Detai

STOCK BASED COMPENSATION (Details) (USD $)

6 Months Ended

6 Months Ended

0 Months Ended

6 Months Ended

0 Months Ended

6 Months Ended

0 Months Ended

Jun. 30, 2013

Jun. 30, 2012

Jun. 30, 2013

Jun. 30, 2013

Jun. 30, 2013

Jun. 30, 2013

Mar. 12, 2013

Jun. 30, 2013

Jan. 16, 2013

Mar. 12, 2013

Mar. 12, 2013

Jun. 30, 2013

Jun. 04, 2013

Jun. 04, 2013

2013 Omnibus Incentive Plan

Minimum

Maximum

Stock options

Stock options

Stock options

Stock options

Restricted stock

Restricted stock

Restricted stock

Restricted stock units

Restricted stock units

President/CEO

Former Executive Officer

Non-employee directors

President/CEO

Former Executive Officer

Former Executive Officer

President/CEO

Non-employee directors

2013 Omnibus Incentive Plan

2013 Omnibus Incentive Plan

Stock-Based Compensation Plans

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Stock compensation expense (in dollars)

$183,000

$312,000

'

'

'

'

$11,000

$134,000

'

$7,000

'

$43,000

$6,000

$7,000

Stock options granted (in shares)

60,000

'

'

'

'

'

55,000

'

5,000

'

'

'

'

'

Restricted stock granted (in shares)

'

'

'

'

'

'

'

'

'

25,000

25,000

'

100,000

100,000

Fair market value (in dollars per share)

'

'

'

'

'

'

$1.98

'

'

'

'

'

'

'

Weighted average fair value of award issued (in dollars per share)

'

'

'

'

'

'

'

'

'

$2.73

'

'

$2.83

$2.83

Assumptions used to estimate fair value of stock options and restricted shares granted to employees and directors

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Risk free rate (as a percent)

'

'

'

2.16%

1.40%

'

'

'

'

'

'

'

'

'

Expected life

'

'

'

'5 years 8 months 12 days

'7 years 9 months 18 days

'

'

'

'

'

'

'

'

'

Expected volatility (as a percent)

'

'

'

84.00%

89.00%

'

'

'

'

'

'

'

'

'

Expected dividend yield (as a percent)

0.00%

'

'

'

'

'

'

'

'

'

'

'

'

'

Total estimated unrecognized compensation cost (in dollars)

$904,000

'

'

'

'

'

'

'

'

'

'

'

'

'

Vesting period

'

'

'

'1 year

'3 years

'

'3 years

'

'

'3 years

'

'

'3 years

'3 years

Shares available for grant

'

'

1,000,000

'

'

987,914

'

'

'

'

'

'

'

'

STOCK_BASED_COMPENSATION_Detai1

STOCK BASED COMPENSATION (Details 2) (USD $)	6 Months Ended
	Jun. 30, 2013
Outstanding Options, Number of Shares	'
Outstanding at the beginning of the period (in shares)	317,270
Granted (in shares)	60,000
Canceled or forfeited (in shares)	72,791
Outstanding at the end of the period (in shares)	304,479
Exercisable at the end of the period (in shares)	226,980
Outstanding Options, Weighted Average Exercise Price	'
Outstanding at the beginning of the period (in dollars per share)	$24.62
Granted (in dollars per share)	$2.85
Canceled or forfeited (in dollars per share)	$25.90
Outstanding at the end of the period (in dollars per share)	$20.02
Exercisable at the end of the period (in dollars per share)	$25.57
Outstanding Options, Weighted Average Remaining Contractual Term (in years)	'
Outstanding at the end of the period	'4 years 3 months 22 days
Exercisable at the end of the period	'2 years 6 months 4 days

STOCK_BASED_COMPENSATION_Detai2

STOCK BASED COMPENSATION (Details 3) (USD $)	6 Months Ended
	Jun. 30, 2013	Dec. 31, 2012
Options Outstanding	'	'
Number of Options Outstanding (in shares)	304,479	317,270
Weighted Average Remaining Contractual Life	'4 years 3 months 22 days	'
Weighted Average Exercise price (in dollars per share)	$20.02	$24.62
Options Exercisable	'	'
Number of Options Exercisable (in shares)	226,980	'
Weighted Average Exercise Price (in dollars per share)	$25.57	'
1995 Stock Incentive Plan	'	'
Options Outstanding	'	'
Number of Options Outstanding (in shares)	145,906	'
Weighted Average Remaining Contractual Life	'1 year 1 month 6 days	'
Weighted Average Exercise price (in dollars per share)	$13.46	'
Options Exercisable	'	'
Number of Options Exercisable (in shares)	145,906	'
Weighted Average Exercise Price (in dollars per share)	$13.46	'
2004 Employee Incentive Plan	'	'
Options Outstanding	'	'
Number of Options Outstanding (in shares)	85,241	'
Weighted Average Remaining Contractual Life	'8 years	'
Weighted Average Exercise price (in dollars per share)	$13.92	'
Options Exercisable	'	'
Number of Options Exercisable (in shares)	29,408	'
Weighted Average Exercise Price (in dollars per share)	$34.74	'
2004 Directors' Plan	'	'
Options Outstanding	'	'
Number of Options Outstanding (in shares)	73,332	'
Weighted Average Remaining Contractual Life	'6 years 4 months 24 days	'
Weighted Average Exercise price (in dollars per share)	$40.19	'
Options Exercisable	'	'
Number of Options Exercisable (in shares)	51,666	'
Weighted Average Exercise Price (in dollars per share)	$54.57	'

ASSET_RETIREMENT_OBLIGATIONS_D

ASSET RETIREMENT OBLIGATIONS (Details) (USD $)	3 Months Ended		6 Months Ended
	Jun. 30, 2013	Jun. 30, 2012	Jun. 30, 2013	Jun. 30, 2012
Change in the balance of the restoration and reclamation liability	'	'	'	'
Reserve for future restoration and reclamation costs beginning of period	'	'	$4,498,057	'
Additions and changes in cash flow estimates	'	'	584,025	'
Costs incurred	'	'	-933,897	'
Accretion expense	97,435	23,624	194,870	46,743
Reserve for future restoration and reclamation costs end of period	$4,343,055	'	$4,343,055	'

EARNINGS_PER_SHARE_Details

EARNINGS PER SHARE (Details)	6 Months Ended
	Jun. 30, 2013
EARNINGS PER SHARE	'
Dilutive securities (in shares)	0
Potential dilutive common stock excluded from the calculation of diluted earnings per share (in shares)	451,764

COMMITMENTS_AND_CONTINGENCIES_

COMMITMENTS AND CONTINGENCIES (Details) (Supply contract, Itochu, Subsequent event)	1 Months Ended
	Jul. 31, 2013
	lb
Supply contract | Itochu | Subsequent event	'
Supply Commitment	'
Percentage of production from the Company's Vasquez, Rosita or Kingsville properties purchased by party	50.00%
Maximum commitment to supply number of units of U3O8 (in pounds)	3,000,000
Discount percentage when the market price is $56.50 per pound of U3O8 or less	5.00%
Market price (in dollars per pound)	56.5
Discount percentage when the market price is greater than $56.50 per pound	7.00%

COMMITMENTS_AND_CONTINGENCIES_1

COMMITMENTS AND CONTINGENCIES (Details 2)	1 Months Ended	6 Months Ended	1 Months Ended
	Jun. 30, 2013	Jun. 30, 2013	Mar. 31, 2013
	Vice president - finance and chief financial officer	Other officers	President and Chief Executive Officer
	item		item
Employment Agreements	'	'	'
Period to receive certain rights and benefits in the event of change in control	'	'24 months	'
Term of employment agreement	'1 year	'	'1 year
Number of year's base salary that will be paid in the event of termination of employment of the vice president following a change in control	1	'	2
Period within which salary and bonus will be entitled in the event of employment termination following a change in control	'30 days	'	'30 days
Period for salary and bonus entitlement in the event of company terminating the employment agreement other than for cause or elects not to renew the agreement	'6 months	'	'1 year
Period within which salary and bonus will be entitled in the event of company terminating the employment agreement other than for cause or elects not to renew the agreement	'30 days	'	'30 days