2022 Q4 Form 10-Q Financial Statement

#000121390022073520 Filed on November 17, 2022

View on sec.gov

Income Statement

Concept 2022 Q4 2022 Q3 2021 Q3
Revenue $247.6K $108.5K $16.16K
YoY Change 10.67% 571.7% 44.8%
Cost Of Revenue $146.2K $335.0K
YoY Change -50.4% 530.11%
Gross Profit $101.4K $108.5K -$318.9K
YoY Change -242.64% -134.04% 659.03%
Gross Profit Margin 40.95% 100.0% -1973.21%
Selling, General & Admin $1.437M $467.4K $510.3K
YoY Change 235.57% -8.41% 59.71%
% of Gross Profit 1417.95% 430.55%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $7.410K $13.56K $0.00
YoY Change -37.31% -100.0%
% of Gross Profit 7.31% 12.49%
Operating Expenses $1.437M $671.9K $510.3K
YoY Change 235.57% 31.67% 59.71%
Operating Profit -$1.336M -$563.3K -$829.1K
YoY Change 167.52% -32.06% 129.35%
Interest Expense $46.44K $41.83K -$1.340K
YoY Change 114.5% -3221.64% -72.76%
% of Operating Profit
Other Income/Expense, Net -$2.770K $0.00
YoY Change -810.26%
Pretax Income -$1.292M -$527.5K -$830.5K
YoY Change 170.72% -36.48% 126.64%
Income Tax
% Of Pretax Income
Net Earnings -$1.292M -$527.5K -$830.5K
YoY Change 170.72% -36.48% 126.64%
Net Earnings / Revenue -521.99% -485.99% -5139.17%
Basic Earnings Per Share -$0.01 -$0.02
Diluted Earnings Per Share -$0.03 -$0.01 -$21.74K
COMMON SHARES
Basic Shares Outstanding 43.59M shares 43.31M shares 38.20M shares
Diluted Shares Outstanding 43.51M shares 38.20M shares

Balance Sheet

Concept 2022 Q4 2022 Q3 2021 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $9.683M $10.47M $4.447M
YoY Change 996.65% 135.43% 442.08%
Cash & Equivalents $9.682M $10.47M $5.342M
Short-Term Investments $610.00 $930.00 $1.860K
Other Short-Term Assets $227.6K $45.25K $303.7K
YoY Change -13.81% -85.1% 11.91%
Inventory
Prepaid Expenses $254.1K $299.4K
Receivables
Other Receivables
Total Short-Term Assets $10.24M $10.89M $4.751M
YoY Change 87.49% 129.22% 335.17%
LONG-TERM ASSETS
Property, Plant & Equipment $12.80M $12.66M $11.79M
YoY Change 8.65% 7.33% 0.46%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $676.4K $676.4K $821.8K
YoY Change 1.65% -17.7% -1.21%
Total Long-Term Assets $22.96M $22.82M $22.10M
YoY Change 4.69% 3.25% 0.2%
TOTAL ASSETS
Total Short-Term Assets $10.24M $10.89M $4.751M
Total Long-Term Assets $22.96M $22.82M $22.10M
Total Assets $33.20M $33.71M $26.85M
YoY Change 21.2% 25.54% 15.99%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $403.7K $353.4K $466.4K
YoY Change -20.97% -24.23% 39.8%
Accrued Expenses $147.9K $219.5K $156.3K
YoY Change -21.64% 40.45% -9.06%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change -100.0%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $670.5K $708.0K $746.2K
YoY Change -30.82% -5.12% 3.89%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $565.5K $544.1K $677.8K
YoY Change -8.7% -19.73% -5.82%
Total Long-Term Liabilities $565.5K $544.1K $677.8K
YoY Change -8.7% -19.73% -5.82%
TOTAL LIABILITIES
Total Short-Term Liabilities $670.5K $708.0K $746.2K
Total Long-Term Liabilities $565.5K $544.1K $677.8K
Total Liabilities $3.945M $3.961M $4.133M
YoY Change -8.21% -4.16% -0.34%
SHAREHOLDERS EQUITY
Retained Earnings -$13.88M -$12.58M
YoY Change 5.42%
Common Stock $43.39M $42.58M
YoY Change 19.89%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares 306.0 shares 306.0 shares
Shareholders Equity $29.26M $29.75M $22.72M
YoY Change
Total Liabilities & Shareholders Equity $33.20M $33.71M $26.85M
YoY Change 21.2% 25.54% 15.99%

Cashflow Statement

Concept 2022 Q4 2022 Q3 2021 Q3
OPERATING ACTIVITIES
Net Income -$1.292M -$527.5K -$830.5K
YoY Change 170.72% -36.48% 126.64%
Depreciation, Depletion And Amortization $7.410K $13.56K $0.00
YoY Change -37.31% -100.0%
Cash From Operating Activities -$624.3K -$646.2K -$822.7K
YoY Change -86.36% -21.45% 41.88%
INVESTING ACTIVITIES
Capital Expenditures $150.2K -$259.5K $0.00
YoY Change
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$150.2K -$259.5K $0.00
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 0.000 289.1K 52.62K
YoY Change -100.0% 449.43%
NET CHANGE
Cash From Operating Activities -624.3K -646.2K -822.7K
Cash From Investing Activities -150.2K -259.5K 0.000
Cash From Financing Activities 0.000 289.1K 52.62K
Net Change In Cash -774.5K -616.6K -770.1K
YoY Change -79.55% -19.93% 32.8%
FREE CASH FLOW
Cash From Operating Activities -$624.3K -$646.2K -$822.7K
Capital Expenditures $150.2K -$259.5K $0.00
Free Cash Flow -$774.5K -$386.7K -$822.7K
YoY Change -83.08% -53.0% 41.88%

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65000 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-895400 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-65000 usd
us-gaap Proceeds From Issuance Of Private Placement
ProceedsFromIssuanceOfPrivatePlacement
3011878 usd
us-gaap Proceeds From Issuance Of Warrants
ProceedsFromIssuanceOfWarrants
2620395 usd
us-gaap Proceeds From Issuance Of Warrants
ProceedsFromIssuanceOfWarrants
1650031 usd
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
3869306 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
5632273 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
5519337 usd
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
-312492 usd
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
-7835 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
9598927 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
3869875 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
1621267 usd
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
1472061 usd
CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
11220194 usd
CY2021Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
5341936 usd
CY2022Q3 us-gaap Cash
Cash
10468789 usd
CY2021Q3 us-gaap Cash
Cash
4445103 usd
CY2022Q3 us-gaap Restricted Cash Current
RestrictedCashCurrent
75057 usd
CY2021Q3 us-gaap Restricted Cash Current
RestrictedCashCurrent
75057 usd
CY2022Q3 us-gaap Restricted Cash
RestrictedCash
676348 usd
CY2021Q3 us-gaap Restricted Cash
RestrictedCash
821776 usd
CY2022Q3 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
11220194 usd
CY2021Q3 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
5341936 usd
CY2022Q3 us-gaap Net Income Loss
NetIncomeLoss
-527525 usd
CY2022Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-12583074 usd
wstrf Working Capital Deficit
WorkingCapitalDeficit
10181380 usd
us-gaap Proceeds From Issuance Of Private Placement
ProceedsFromIssuanceOfPrivatePlacement
3011878 usd
us-gaap Use Of Estimates
UseOfEstimates
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif"><b><i>Use of Estimates</i></b></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">The preparation of these condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amount of assets and liabilities at the date of the financial statements and revenues and expenses during the periods reported. By their nature, these estimates are subject to measurement uncertainty, and the effects on the condensed consolidated financial statements of changes in such estimates in future periods could be significant. Significant areas requiring management’s estimates and assumptions include the determination of the fair value of transactions involving common shares, assessment of the useful life and evaluation for impairment of Kinetic Separation intellectual property, valuation and impairment assessments of mineral properties and equipment, valuation of deferred contingent consideration, valuation of the reclamation liability, valuation of stock-based compensation, and valuation of available-for-sale securities. Other areas requiring estimates include allocations of expenditures, depletion, and amortization of mineral rights and properties. Actual results could differ from those estimates.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif"><b><i> </i></b></span></p>
CY2022Q3 us-gaap Net Income Loss
NetIncomeLoss
-527525 usd
CY2021Q3 us-gaap Net Income Loss
NetIncomeLoss
-830493 usd
us-gaap Net Income Loss
NetIncomeLoss
578422 usd
us-gaap Net Income Loss
NetIncomeLoss
-1596717 usd
CY2022Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
43514832 shares
CY2021Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
38203075 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
42536893 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
36243124 shares
us-gaap Dilutive Securities
DilutiveSecurities
1010484 usd
CY2022Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
43514832 shares
CY2021Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
38203075 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
43547377 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
36243124 shares
CY2022Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.01
CY2021Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.02
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.01
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.04
CY2022Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.01
CY2021Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.02
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.01
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.04
CY2022Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
12470076 shares
CY2021Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
13523873 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
3953826 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
13523873 shares
wstrf Mineral Assets Equipment And Kinetic Separation Intellectual Property And Other Property
MineralAssetsEquipmentAndKineticSeparationIntellectualPropertyAndOtherProperty
<p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-variant: small-caps; text-transform: uppercase"><b>NOTE 4 – MINERAL ASSETS equipment, Kinetic separation INTELLECTUAL PROPERTY, AND OTHER PROPERTY </b></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-variant: small-caps; text-transform: uppercase"><b> </b></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">The Company’s mining properties acquired on August 18, 2014 that the Company retains as of September 30, 2022 include: The San Rafael Uranium Project located in Emery County, Utah; The Sunday Mine Complex located in western San Miguel County, Colorado; The Van 4 Mine located in western Montrose County, Colorado; The Sage Mine located in San Juan County, Utah, and San Miguel County, Colorado. These mining properties include leased land in the states of Colorado and Utah. None of these mining properties were operational at the date of acquisition.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">The Company’s mining properties acquired on September 16, 2015 that the Company retains as of September 30, 2022 include Hansen, North Hansen and Hansen Picnic Tree located in Fremont and Teller Counties, Colorado. The Company also acquired the Keota project located in Weld County, Colorado and the Ferris Haggerty project located in Carbon County Wyoming. These mining assets include both owned and leased land in the states of Utah, Colorado, and Wyoming. All of the mining assets represent properties which have previously been mined, to different degrees, for uranium.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">As the Company has not formally established proven or probable reserves on any of its properties, there is inherent uncertainty as to whether or not any mineralized material can be economically extracted as originally planned and anticipated.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">The Company’s mineral properties and equipment and kinetic separation intellectual property are:</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif"><b> </b></span></p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif">As of <br/>September 30, <br/> 2022</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif">As of <br/>December 31, <br/> 2021</span></td><td style="padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: left; text-indent: -10pt; padding-left: 10pt"><span style="font-family: Times New Roman, Times, Serif">Mineral properties and equipment</span></td><td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="width: 9%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">12,656,075</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="width: 9%; text-align: right"><span style="font-family: Times New Roman, Times, Serif">11,780,142</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; text-indent: -10pt; padding-left: 10pt"><span style="font-family: Times New Roman, Times, Serif">Kinetic separation intellectual property</span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">9,488,051</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif">9,488,051</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif"><b><i> </i></b></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif"><b><i>Oil and Gas Lease and Easement</i></b></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">The Company entered into an oil and gas lease that became effective with respect to minerals and mineral rights owned by the Company of approximately 160 surface acres of the Company’s property in Colorado. As consideration for entering into the lease, the lessee has agreed to pay the Company a royalty from the lessee’s revenue attributed to oil and gas produced, saved, and sold attributable to the net mineral interest. The Company has also received cash payments from the lessee related to the easement that the Company is recognizing incrementally over the eight year term of the easement.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0">On June 23, 2020, the same entity, as discussed above, elected to extend the oil and gas lease easement for three additional years, commencing on the date the lease would have previously expired. During 2021, the operator completed all well development stages, and each of the eight (8) wells commenced oil and gas production by mid-August 2021. On January 31, 2022, the operator of the Weld County Colorado oil and gas pooled trust issued the first cumulative royalty payment check in the amount of $207,552 for August 2021 through December 2021 sales which was recognized as income in the fourth quarter of 2021. Royalty receipts were received monthly as earned during each of the months in 2022.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">During the three months ended September 30, 2022 and 2021, the Company recognized aggregate revenue of $108,547 and $16,155, respectively, and for the nine months ended September 30, 2022 and 2021, the Company recognized aggregate revenue of $387,810 and $48,465, respectively, under these oil and gas lease arrangements.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif"><b><i>Reclamation Liabilities</i></b></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif"><b><i> </i></b></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">The Company’s mines are subject to certain asset retirement obligations, which the Company has recorded as reclamation liabilities. The reclamation liabilities of the United States mines are subject to legal and regulatory requirements, and estimates of the costs of reclamation are reviewed periodically by the applicable regulatory authorities. The reclamation liability represents the Company’s best estimate of the present value of future reclamation costs in connection with the mineral properties. The Company determined the gross reclamation liabilities of the mineral properties to be $751,405 and $740,446 as of September 30, 2022 and December 31, 2021, respectively. On March 2, 2020, the Colorado Mined Land Reclamation Board (“MLRB”) issued an order vacating the Van 4 Temporary Cessation, terminating mining operations and ordering commencement of final reclamation. The Company has begun the reclamation of the Van 4 Mine. The reclamation cost is fully covered by the reclamation bonds posted upon acquisition of the property. The Company adjusted the fair value of its reclamation obligation for the Van 4 Mine. The portion of the reclamation liability related to the Van 4 Mine and its related restricted cash are included in current liabilities and current assets, respectively, at a value of $75,057. The Company expects to begin incurring the reclamation liability after 2054 for all mines that are not in reclamation and accordingly, has discounted the gross liabilities over their remaining lives using a discount rate of 5.4%. The net discounted aggregated values as of September 30, 2022 and December 31, 2021 were $297,510 and $271,620, respectively. The gross reclamation liabilities as of September 30, 2022 and December 31, 2021 are secured by financial warranties in the amount of $751,405 and $740,446, respectively.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif">Reclamation liability activity for the nine months ended September 30, 2022 and 2021 consists of:</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif"> </span></p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: normal; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: normal; text-align: center"><span style="font-family: Times New Roman, Times, Serif">For the Nine Months Ended<br/> September 30,</span></td><td style="padding-bottom: 1.5pt; font-weight: normal"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom"> <td><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: normal; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: normal; text-align: center"><span style="font-family: Times New Roman, Times, Serif">2022</span></td><td style="padding-bottom: 1.5pt; font-weight: normal"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: normal; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: normal; text-align: center"><span style="font-family: Times New Roman, Times, Serif">2021</span></td><td style="padding-bottom: 1.5pt; font-weight: normal"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">Beginning balance at January 1</span></td><td style="width: 1%; font-weight: normal"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; font-weight: normal; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="width: 9%; font-weight: normal; text-align: right"><span style="font-family: Times New Roman, Times, Serif">271,620</span></td><td style="width: 1%; font-weight: normal; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="width: 1%; font-weight: normal"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="width: 1%; font-weight: normal; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="width: 9%; font-weight: normal; text-align: right"><span style="font-family: Times New Roman, Times, Serif">309,940</span></td><td style="width: 1%; font-weight: normal; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif">Accretion</span></td><td style="font-weight: normal"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="font-weight: normal; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: normal; text-align: right"><span style="font-family: Times New Roman, Times, Serif">25,890</span></td><td style="font-weight: normal; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: normal"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="font-weight: normal; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: normal; text-align: right"><span style="font-family: Times New Roman, Times, Serif">8,652</span></td><td style="font-weight: normal; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif">Discontinuation of reclamation liability</span></td><td style="font-weight: normal; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1.5pt solid; font-weight: normal; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1.5pt solid; font-weight: normal; text-align: right"><span style="-sec-ix-hidden: hidden-fact-114; font-family: Times New Roman, Times, Serif">-</span></td><td style="padding-bottom: 1.5pt; font-weight: normal; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: normal; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 1.5pt solid; font-weight: normal; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="border-bottom: Black 1.5pt solid; font-weight: normal; text-align: right"><span style="font-family: Times New Roman, Times, Serif">(2,669</span></td><td style="padding-bottom: 1.5pt; font-weight: normal; text-align: left"><span style="font-family: Times New Roman, Times, Serif">)</span></td></tr> <tr style="vertical-align: bottom; "> <td style="padding-bottom: 4pt"><span style="font-family: Times New Roman, Times, Serif">Ending Balance at September 30</span></td><td style="font-weight: normal; padding-bottom: 4pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 4pt double; font-weight: normal; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="border-bottom: Black 4pt double; font-weight: normal; text-align: right"><span style="font-family: Times New Roman, Times, Serif">297,510</span></td><td style="padding-bottom: 4pt; font-weight: normal; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td><td style="font-weight: normal; padding-bottom: 4pt"><span style="font-family: Times New Roman, Times, Serif"> </span></td> <td style="border-bottom: Black 4pt double; font-weight: normal; text-align: left"><span style="font-family: Times New Roman, Times, Serif">$</span></td><td style="border-bottom: Black 4pt double; font-weight: normal; text-align: right"><span style="font-family: Times New Roman, Times, Serif">315,923</span></td><td style="padding-bottom: 4pt; font-weight: normal; text-align: left"><span style="font-family: Times New Roman, Times, Serif"> </span></td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; text-transform: uppercase"><b> </b></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif"><b><i>Sunday Mine Complex Permitting Status </i></b></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; text-transform: uppercase"><b><i> </i></b></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">On February 4, 2020, the Colorado DRMS sent a Notice of Hearing to Declare Termination of Mining Operations related to the status of the mining permits issued by the state of Colorado for the Sunday Mine Complex. At issue was the application of an unchallenged Colorado Court of Appeals Opinion for a separate mine (Van 4) with very different facts that are retroactively modifying DRMS rules and regulations. The Company maintains that it was timely in meeting existing rules and regulations. The hearing was scheduled to be held during several monthly MLRB Board meetings, but this matter was delayed several times. The permit hearing was held during the MLRB Board monthly meeting on July 22, 2020. At issue was the status of the five existing permits which comprise the Sunday Mine Complex. Due to COVID-19 restrictions, the hearing took place utilizing a virtual-only format. The Company prevailed in a 3 to 1 decision which acknowledged that the work completed at the Sunday Mine Complex under DRMS oversight was timely and sufficient for Western to maintain these permits. In a subsequent July 30, 2020 letter, the DRMS notified the Company that the status of the five permits (Sunday, West Sunday, St. Jude, Carnation, and Topaz) had been changed to “Active” status effective June 10, 2019, the original date on which the change of the status was approved. On August 23, 2020, the Company initiated a request for Temporary Cessation status for the Sunday Mine Complex as the mines had not been restarted within a 180-day window due to the direct and indirect impacts of the COVID-19 pandemic. Accordingly, a permit hearing was scheduled for October 21, 2020 to determine Temporary Cessation status. In a unanimous vote, the MLRB approved Temporary Cessation status for each of the five Sunday Mine Complex permits (Sunday, West Sunday, St. Jude, Carnation, and Topaz). On October 9, 2020, the MLRB issued a board order which finalized the findings of the July 22, 2020 permit hearing. On November 10, 2020, the MLRB issued a board order which finalized the findings of the October 21, 2020 permit hearing. On November 6, 2020, the MLRB signed an order placing the five Sunday Mine Complex mine permits into Temporary Cessation. On November 12, 2020, a coalition of environmental groups (the “Plaintiffs”) filed a complaint against the MLRB seeking a partial appeal of the July 22, 2020 decision by requesting termination of the Topaz Mine permit. On December 15, 2020, the same coalition of environmental groups amended their complaint against the MLRB seeking a partial appeal of the October 21, 2020 decision requesting termination of the Topaz Mine permit. The Company has joined with the MLRB in defense of their July 22, 2020 and October 21, 2020 decisions. On May 5, 2021, the Plaintiffs in the Topaz Appeal filed an opening brief with the Denver District Court seeking to overturn the July 22, 2020 and October 21, 2020 MLRB permit hearing decisions on the Topaz Mine permit. The MLRB and the Company were to respond with an answer brief within 35 days on or before June 9, 2021, but instead sought a settlement. The judicial review process was delayed as extensions were put in place until August 20, 2021. A settlement was not reached, and the MLRB and the Company submitted answer briefs on August 20, 2021. The Plaintiff submitted a reply brief on September 10, 2021. On March 1, 2022, the Denver District Court reversed the MLRB’s orders regarding the Topaz Mine and remanded the case back to MLRB for further proceedings consistent with its order. The Company and the MLRB had until April 19, 2022 to appeal the Denver District Court’s ruling. Neither the Company nor the MLRB appealed the Denver District Court ruling. Western anticipates receiving an MLRB board order of reclamation for the Topaz Mine. The Company is continuing to work toward the completion of an updated Topaz Mine Plan of Operations which is a separate federal requirement of the BLM for the conduct of mining activities on the federal land at the Topaz Mine.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif"><b><i>Kinetic Separation Intellectual Property</i></b></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">The Kinetic Separation intellectual property was acquired in Western’s acquisition of Black Range on September 16, 2015. Previously Black Range acquired its Kinetic Separation assets in the dissolution of a joint venture on March 17, 2015, through the acquisition of all the assets of the joint venture and received a 25-year license to utilize all of the patented and unpatented technology owned by the joint venture. The technology license agreement for patents and unpatented technology became effective as of March 17, 2015, for a period of 25 years, until March 16, 2040. There are no remaining license fee obligations, and there are no future royalties due under the agreement. The Company has the right to sub-license the technology to third parties. The Company may not sell or assign the Kinetic Separation license; however, the license could be transferred in the case of a sale of the Company. The Company has developed improvements to Kinetic Separation during the term of the license agreement and retains ownership of, and may obtain patent protection on, any such improvements developed by the Company.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif">The Kinetic Separation patent was filed on September 13, 2012 and granted on February 14, 2014 by the United States Patent Office. The patent is effective for a period of 20 years until September 13, 2032. This patent is supported by two provisional patent applications. The provisional patent applications expired after one year but were incorporated in the U.S. Patent by reference and claimed benefit prior to their expirations. The status of the patent and two provisional patent applications has not changed subsequent to the 2014 patent grant. The Company has the continued right to use any patented portion of the Kinetic Separation technology that enters the public domain subsequent to the patent expiration.</span></p><p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif">The Company anticipates Kinetic Separation will improve the efficiency of the mining and processing of the sandstone-hosted ore from Western’s conventional mines through the separation of waste from mineral bearing-ore, potentially reducing transportation, mill processing, and mill tailings costs. Kinetic Separation is not currently in use or being applied at any Company mines. The Company views Kinetic Separation as a cost saving technology, which it will seek to incorporate into ore production subsequent to commencing scaled production levels. There are also alternative applications, which the Company has explored.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif"><b><i>Mining Equipment Purchases</i></b></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif"> </span></p><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif">During the nine months ended September 30, 2022 and 2021, Western purchased $895,400 and $65,000, respectively, in mining equipment and vehicles.</span></p>
CY2022Q3 wstrf Mineral Properties And Equipment
MineralPropertiesAndEquipment
12656075 usd
CY2021Q4 wstrf Mineral Properties And Equipment
MineralPropertiesAndEquipment
11780142 usd
CY2022Q3 wstrf Kinetic Separation Intellectual Property
KineticSeparationIntellectualProperty
9488051 usd
CY2021Q4 wstrf Kinetic Separation Intellectual Property
KineticSeparationIntellectualProperty
9488051 usd
CY2022Q3 us-gaap Area Of Land
AreaOfLand
160 acre
us-gaap Operating Leases Of Lessor Contingent Rentals Description Of Variable Rate Basis
OperatingLeasesOfLessorContingentRentalsDescriptionOfVariableRateBasis
As consideration for entering into the lease, the lessee has agreed to pay the Company a royalty from the lessee’s revenue attributed to oil and gas produced, saved, and sold attributable to the net mineral interest.
CY2022Q3 us-gaap Lessee Operating Lease Term Of Contract
LesseeOperatingLeaseTermOfContract
P8Y
CY2020Q2 wstrf Lessee Operating Lease Term Of Contracts
LesseeOperatingLeaseTermOfContracts
P3Y
CY2022Q1 us-gaap Payments To Acquire Royalty Interests In Mining Properties
PaymentsToAcquireRoyaltyInterestsInMiningProperties
207552 usd
CY2022Q3 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
108547 usd
CY2021Q3 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
16155 usd
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
387810 usd
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
48465 usd
CY2022Q3 us-gaap Asset Retirement Obligation
AssetRetirementObligation
751405 usd
CY2021Q4 us-gaap Asset Retirement Obligation
AssetRetirementObligation
740446 usd
CY2022Q3 wstrf Reclamation Liability
ReclamationLiability
75057 usd
wstrf Reclamation Liability Description
ReclamationLiabilityDescription
The Company expects to begin incurring the reclamation liability after 2054 for all mines that are not in reclamation and accordingly, has discounted the gross liabilities over their remaining lives using a discount rate of 5.4%. The net discounted aggregated values as of September 30, 2022 and December 31, 2021 were $297,510 and $271,620, respectively.
CY2022Q3 wstrf Gross Reclamation Liabilities
GrossReclamationLiabilities
751405 usd
CY2021Q4 wstrf Gross Reclamation Liabilities
GrossReclamationLiabilities
740446 usd
CY2021Q4 us-gaap Asset Retirement Obligations Noncurrent
AssetRetirementObligationsNoncurrent
271620 usd
CY2020Q4 us-gaap Asset Retirement Obligations Noncurrent
AssetRetirementObligationsNoncurrent
309940 usd
wstrf Accretion Reclamation Obligation
AccretionReclamationObligation
25890 usd
wstrf Accretion Reclamation Obligation
AccretionReclamationObligation
8652 usd
wstrf Discontinuation Of Reclamation Liabilitys
DiscontinuationOfReclamationLiabilitys
2669 usd
CY2022Q3 us-gaap Asset Retirement Obligations Noncurrent
AssetRetirementObligationsNoncurrent
297510 usd
CY2021Q3 us-gaap Asset Retirement Obligations Noncurrent
AssetRetirementObligationsNoncurrent
315923 usd
wstrf Kinetic Separation Intellectual Property Description
KineticSeparationIntellectualPropertyDescription
The Kinetic Separation intellectual property was acquired in Western’s acquisition of Black Range on September 16, 2015. Previously Black Range acquired its Kinetic Separation assets in the dissolution of a joint venture on March 17, 2015, through the acquisition of all the assets of the joint venture and received a 25-year license to utilize all of the patented and unpatented technology owned by the joint venture. The technology license agreement for patents and unpatented technology became effective as of March 17, 2015, for a period of 25 years, until March 16, 2040.
us-gaap Debt Instrument Term
DebtInstrumentTerm
P20Y
us-gaap Long Term Contract For Purchase Of Electric Power Estimated Annual Cost
LongTermContractForPurchaseOfElectricPowerEstimatedAnnualCost
895400 usd
us-gaap Long Term Contract For Purchase Of Electric Power Estimated Annual Cost
LongTermContractForPurchaseOfElectricPowerEstimatedAnnualCost
65000 usd
CY2022Q3 us-gaap Accounts Payable Trade Current
AccountsPayableTradeCurrent
353386 usd
CY2021Q4 us-gaap Accounts Payable Trade Current
AccountsPayableTradeCurrent
510831 usd
CY2022Q3 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
219544 usd
CY2021Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
188762 usd
CY2022Q3 us-gaap Accounts Payable And Other Accrued Liabilities Current
AccountsPayableAndOtherAccruedLiabilitiesCurrent
572930 usd
CY2021Q4 us-gaap Accounts Payable And Other Accrued Liabilities Current
AccountsPayableAndOtherAccruedLiabilitiesCurrent
699593 usd
CY2021Q2 us-gaap Other Commitment
OtherCommitment
78000 usd
CY2022Q2 us-gaap Significant Supply Commitment Description
SignificantSupplyCommitmentDescription
In April 2022, in satisfaction of the Year 5 delivery under its supply contract, the Company delivered 125,000 lbs of uranium concentrate from its prepaid uranium concentrate inventory. Accordingly, during the three and nine months ended September 30, 2022, the Company recorded revenue of $0 and $7,223,609 (at a price of approximately $57 per pound), respectively, and cost of revenue of $0 and $4,044,083, respectively, related to the delivery of the uranium. In May 2022, the Company received the cash proceeds from this sale.
CY2021Q2 wstrf Strategic Acquisition Of Physical Uranium
StrategicAcquisitionOfPhysicalUranium
In May 2021, the Company executed a binding agreement to purchase 125,000 pounds of natural uranium concentrate at approximately $32 per pound.
CY2021 wstrf Physical Uranium Inventory Purchase Description
PhysicalUraniumInventoryPurchaseDescription
In December 2021, the Company paid $4,044,083, in connection with its full prepayment of the purchase price for 125,000 pounds of natural uranium concentrate.
CY2022Q1 us-gaap Debt Conversion Converted Instrument Warrants Or Options Issued1
DebtConversionConvertedInstrumentWarrantsOrOptionsIssued1
98985 shares
wstrf Aggregate Warrant Were Exercised
AggregateWarrantWereExercised
2020351 shares
wstrf Proceeds From Issuance Of Private Placements
ProceedsFromIssuanceOfPrivatePlacements
2620395 usd
CY2022Q1 us-gaap Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Exercisable Options Weighted Average Remaining Contractual Term2
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeExercisableOptionsWeightedAverageRemainingContractualTerm2
P5Y
CY2022Q1 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
1.76
CY2022Q1 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
1.28
CY2022Q1 us-gaap Share Price
SharePrice
1.76
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExercisePrice
1.76
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod
900000 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0 pure
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
1.033 pure
CY2021Q3 wstrf Mining Expenditures
MiningExpenditures
335028 usd
us-gaap Income Taxes Paid
IncomeTaxesPaid
usd
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0161 pure
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P2Y7M6D
CY2022Q3 us-gaap Employee Benefits And Share Based Compensation
EmployeeBenefitsAndShareBasedCompensation
0 usd
CY2021Q3 us-gaap Employee Benefits And Share Based Compensation
EmployeeBenefitsAndShareBasedCompensation
0 usd
us-gaap Employee Benefits And Share Based Compensation
EmployeeBenefitsAndShareBasedCompensation
753219 usd
us-gaap Employee Benefits And Share Based Compensation
EmployeeBenefitsAndShareBasedCompensation
0 usd
CY2022Q3 wstrf Payments To Acquire Mining Permits
PaymentsToAcquireMiningPermits
29946 usd
CY2021Q3 wstrf Payments To Acquire Mining Permits
PaymentsToAcquireMiningPermits
32639 usd
wstrf Payments To Acquire Mining Permits
PaymentsToAcquireMiningPermits
86103 usd
wstrf Payments To Acquire Mining Permits
PaymentsToAcquireMiningPermits
106426 usd
CY2022Q3 wstrf Mining Costs
MiningCosts
172421 usd
CY2021Q3 wstrf Mining Costs
MiningCosts
300988 usd
wstrf Mining Costs
MiningCosts
524336 usd
wstrf Mining Costs
MiningCosts
312534 usd
CY2022Q3 wstrf Royalties
Royalties
2153 usd
CY2021Q3 wstrf Royalties
Royalties
1401 usd
wstrf Royalties
Royalties
5707 usd
wstrf Royalties
Royalties
3961 usd
CY2022Q3 wstrf Mining Expenditures
MiningExpenditures
204520 usd
wstrf Mining Expenditures
MiningExpenditures
616146 usd
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
usd
us-gaap Interest Paid Net
InterestPaidNet
usd
wstrf Mining Expenditures
MiningExpenditures
422921 usd
CY2022Q3 us-gaap Business Combination Contingent Consideration Liability Noncurrent
BusinessCombinationContingentConsiderationLiabilityNoncurrent
321600 usd
CY2021Q4 us-gaap Business Combination Contingent Consideration Liability Noncurrent
BusinessCombinationContingentConsiderationLiabilityNoncurrent
362794 usd
us-gaap Costs And Expenses Related Party
CostsAndExpensesRelatedParty
54000 usd
CY2021 us-gaap Costs And Expenses Related Party
CostsAndExpensesRelatedParty
65753 usd
CY2022Q3 wstrf Exercise Price Per Share
ExercisePricePerShare
1.6
CY2022Q3 wstrf Exercise Price Per Share
ExercisePricePerShare
1.16
CY2021Q3 us-gaap Cost Of Revenue
CostOfRevenue
usd
us-gaap Cost Of Revenue
CostOfRevenue
usd
CY2022Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
usd
CY2021Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
usd
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
usd
CY2022Q3 wstrf Settlement Expense
SettlementExpense
usd
CY2021Q3 wstrf Settlement Expense
SettlementExpense
usd
wstrf Settlement Expense
SettlementExpense
usd
us-gaap Share Based Compensation
ShareBasedCompensation
usd
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
usd
us-gaap Increase Decrease In Payables To Customers
IncreaseDecreaseInPayablesToCustomers
usd
wstrf Increase Decrease In Reclamation Liabilities
IncreaseDecreaseInReclamationLiabilities
usd
us-gaap Proceeds From Issuance Of Private Placement
ProceedsFromIssuanceOfPrivatePlacement
usd
us-gaap Interest Paid Net
InterestPaidNet
usd
us-gaap Income Taxes Paid
IncomeTaxesPaid
usd
CY2022Q3 us-gaap Dilutive Securities
DilutiveSecurities
usd
CY2021Q3 us-gaap Dilutive Securities
DilutiveSecurities
usd
us-gaap Dilutive Securities
DilutiveSecurities
usd
wstrf Discontinuation Of Reclamation Liabilitys
DiscontinuationOfReclamationLiabilitys
usd
dei Amendment Flag
AmendmentFlag
false
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q3
dei Entity Central Index Key
EntityCentralIndexKey
0001621906

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