2023 Q2 Form 10-K Financial Statement
#000121390023030341 Filed on April 17, 2023
Income Statement
Concept | 2023 Q2 | 2022 Q4 | 2022 |
---|---|---|---|
Revenue | $102.8K | $247.6K | $7.859M |
YoY Change | -98.6% | 10.67% | 2787.84% |
Cost Of Revenue | $146.2K | $4.044M | |
YoY Change | -50.4% | 463.51% | |
Gross Profit | $102.8K | $101.4K | $3.815M |
YoY Change | -96.89% | -242.64% | -956.28% |
Gross Profit Margin | 100.0% | 40.95% | 48.54% |
Selling, General & Admin | $577.6K | $1.437M | $3.832M |
YoY Change | -34.99% | 235.57% | 144.46% |
% of Gross Profit | 561.92% | 1417.95% | 100.44% |
Research & Development | |||
YoY Change | |||
% of Gross Profit | |||
Depreciation & Amortization | $53.72K | $7.410K | $26.88K |
YoY Change | -37.31% | 31.88% | |
% of Gross Profit | 52.26% | 7.31% | 0.7% |
Operating Expenses | $1.234M | $1.437M | $4.594M |
YoY Change | 22.06% | 235.57% | 193.1% |
Operating Profit | -$1.131M | -$1.336M | -$779.2K |
YoY Change | -149.37% | 167.52% | -61.29% |
Interest Expense | $54.99K | $46.44K | $90.07K |
YoY Change | 3884.78% | 114.5% | 431.07% |
% of Operating Profit | |||
Other Income/Expense, Net | -$300.00 | -$2.770K | $4.000K |
YoY Change | -107.5% | -810.26% | -105.12% |
Pretax Income | -$1.077M | -$1.292M | -$713.8K |
YoY Change | -147.23% | 170.72% | -65.59% |
Income Tax | |||
% Of Pretax Income | |||
Net Earnings | -$1.077M | -$1.292M | -$713.8K |
YoY Change | -147.23% | 170.72% | -65.59% |
Net Earnings / Revenue | -1047.45% | -521.99% | -9.08% |
Basic Earnings Per Share | -$0.02 | -$0.02 | |
Diluted Earnings Per Share | -$0.02 | -$0.03 | -$0.02 |
COMMON SHARES | |||
Basic Shares Outstanding | 43.60M shares | 43.59M shares | 42.82M shares |
Diluted Shares Outstanding | 43.60M shares | 42.82M shares |
Balance Sheet
Concept | 2023 Q2 | 2022 Q4 | 2022 |
---|---|---|---|
SHORT-TERM ASSETS | |||
Cash & Short-Term Investments | $6.597M | $9.683M | $9.683M |
YoY Change | -41.34% | 996.65% | 996.65% |
Cash & Equivalents | $6.596M | $9.682M | |
Short-Term Investments | $340.00 | $610.00 | $610.00 |
Other Short-Term Assets | $112.7K | $227.6K | $556.8K |
YoY Change | 40.3% | -13.81% | -87.84% |
Inventory | |||
Prepaid Expenses | $139.5K | $254.1K | |
Receivables | |||
Other Receivables | |||
Total Short-Term Assets | $6.924M | $10.24M | $10.24M |
YoY Change | -40.75% | 87.49% | 87.49% |
LONG-TERM ASSETS | |||
Property, Plant & Equipment | $14.42M | $12.80M | $12.80M |
YoY Change | 16.2% | 8.65% | 8.65% |
Goodwill | |||
YoY Change | |||
Intangibles | |||
YoY Change | |||
Long-Term Investments | |||
YoY Change | |||
Other Assets | $676.4K | $676.4K | $676.4K |
YoY Change | 1.64% | 1.65% | 1.65% |
Total Long-Term Assets | $24.58M | $22.96M | $22.96M |
YoY Change | 8.96% | 4.69% | 4.69% |
TOTAL ASSETS | |||
Total Short-Term Assets | $6.924M | $10.24M | $10.24M |
Total Long-Term Assets | $24.58M | $22.96M | $22.96M |
Total Assets | $31.51M | $33.20M | $33.20M |
YoY Change | -8.0% | 21.2% | 21.2% |
SHORT-TERM LIABILITIES | |||
YoY Change | |||
Accounts Payable | $498.3K | $403.7K | $403.7K |
YoY Change | 0.97% | -20.97% | -20.97% |
Accrued Expenses | $163.9K | $147.9K | $147.9K |
YoY Change | -9.57% | -21.64% | -21.64% |
Deferred Revenue | |||
YoY Change | |||
Short-Term Debt | $0.00 | $0.00 | $0.00 |
YoY Change | |||
Long-Term Debt Due | |||
YoY Change | |||
Total Short-Term Liabilities | $748.8K | $670.5K | $670.5K |
YoY Change | -8.06% | -30.82% | -30.82% |
LONG-TERM LIABILITIES | |||
Long-Term Debt | $0.00 | $0.00 | $0.00 |
YoY Change | |||
Other Long-Term Liabilities | $564.0K | $565.5K | $565.5K |
YoY Change | -4.39% | -8.7% | -8.7% |
Total Long-Term Liabilities | $564.0K | $565.5K | $565.5K |
YoY Change | -4.39% | -8.7% | -8.7% |
TOTAL LIABILITIES | |||
Total Short-Term Liabilities | $748.8K | $670.5K | $670.5K |
Total Long-Term Liabilities | $564.0K | $565.5K | $565.5K |
Total Liabilities | $4.022M | $3.945M | $3.945M |
YoY Change | -2.23% | -8.21% | -8.21% |
SHAREHOLDERS EQUITY | |||
Retained Earnings | -$16.06M | -$13.88M | |
YoY Change | 33.18% | 5.42% | |
Common Stock | $43.75M | $43.39M | |
YoY Change | 3.44% | 19.89% | |
Preferred Stock | |||
YoY Change | |||
Treasury Stock (at cost) | |||
YoY Change | |||
Treasury Stock Shares | 306.0 shares | ||
Shareholders Equity | $27.49M | $29.26M | $29.26M |
YoY Change | |||
Total Liabilities & Shareholders Equity | $31.51M | $33.20M | $33.20M |
YoY Change | -8.0% | 21.2% | 21.2% |
Cashflow Statement
Concept | 2023 Q2 | 2022 Q4 | 2022 |
---|---|---|---|
OPERATING ACTIVITIES | |||
Net Income | -$1.077M | -$1.292M | -$713.8K |
YoY Change | -147.23% | 170.72% | -65.59% |
Depreciation, Depletion And Amortization | $53.72K | $7.410K | $26.88K |
YoY Change | -37.31% | 31.88% | |
Cash From Operating Activities | -$795.5K | -$624.3K | $4.550M |
YoY Change | -111.52% | -86.36% | -173.93% |
INVESTING ACTIVITIES | |||
Capital Expenditures | $1.095M | $150.2K | $1.046M |
YoY Change | -511.73% | -1708.67% | |
Acquisitions | |||
YoY Change | |||
Other Investing Activities | |||
YoY Change | |||
Cash From Investing Activities | -$1.095M | -$150.2K | -$1.046M |
YoY Change | 311.73% | 1508.67% | |
FINANCING ACTIVITIES | |||
Cash Dividend Paid | |||
YoY Change | |||
Common Stock Issuance & Retirement, Net | $3.012M | ||
YoY Change | -52.26% | ||
Debt Paid & Issued, Net | |||
YoY Change | |||
Cash From Financing Activities | 0.000 | 0.000 | $5.632M |
YoY Change | -100.0% | -100.0% | -10.73% |
NET CHANGE | |||
Cash From Operating Activities | -795.5K | -624.3K | $4.550M |
Cash From Investing Activities | -1.095M | -150.2K | -$1.046M |
Cash From Financing Activities | 0.000 | 0.000 | $5.632M |
Net Change In Cash | -1.891M | -774.5K | $8.812M |
YoY Change | -121.9% | -79.55% | 9749.41% |
FREE CASH FLOW | |||
Cash From Operating Activities | -$795.5K | -$624.3K | $4.550M |
Capital Expenditures | $1.095M | $150.2K | $1.046M |
Free Cash Flow | -$1.891M | -$774.5K | $3.505M |
YoY Change | -126.35% | -83.08% | -157.55% |
Facts In Submission
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330 Bay Street | |
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CY2022Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
29257908 | usd |
CY2022 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-713767 | usd |
CY2021 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-2074037 | usd |
CY2022 | us-gaap |
Depreciation
Depreciation
|
26877 | usd |
CY2021 | us-gaap |
Depreciation
Depreciation
|
20380 | usd |
CY2022 | wstrf |
Discontinuation Of Reclamation Liability
DiscontinuationOfReclamationLiability
|
28656 | usd |
CY2021 | wstrf |
Discontinuation Of Reclamation Liability
DiscontinuationOfReclamationLiability
|
9142 | usd |
CY2022 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
1566520 | usd |
CY2022 | wstrf |
Change In Marketable Securities
ChangeInMarketableSecurities
|
1508 | usd |
CY2021 | wstrf |
Change In Marketable Securities
ChangeInMarketableSecurities
|
285 | usd |
CY2022 | us-gaap |
Increase Decrease In Inventories
IncreaseDecreaseInInventories
|
-4085723 | usd |
CY2021 | us-gaap |
Increase Decrease In Inventories
IncreaseDecreaseInInventories
|
4085723 | usd |
CY2022 | us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
63953 | usd |
CY2021 | us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
269606 | usd |
CY2022 | us-gaap |
Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
|
-147979 | usd |
CY2021 | us-gaap |
Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
|
356976 | usd |
CY2022 | us-gaap |
Increase Decrease In Payables To Customers
IncreaseDecreaseInPayablesToCustomers
|
-146177 | usd |
CY2021 | wstrf |
Increase Decrease In Reclamation Liabilities
IncreaseDecreaseInReclamationLiabilities
|
47462 | usd |
CY2022 | us-gaap |
Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
|
-64620 | usd |
CY2021 | us-gaap |
Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
|
-64620 | usd |
CY2022 | wstrf |
Increase Decrease In Contingent Consideration
IncreaseDecreaseInContingentConsideration
|
22542 | usd |
CY2022 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
4550246 | usd |
CY2021 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-6154665 | usd |
CY2022 | us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
1045638 | usd |
CY2021 | us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
65000 | usd |
CY2022 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-1045638 | usd |
CY2021 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-65000 | usd |
CY2022 | us-gaap |
Proceeds From Issuance Of Warrants
ProceedsFromIssuanceOfWarrants
|
2620395 | usd |
CY2021 | us-gaap |
Proceeds From Issuance Of Warrants
ProceedsFromIssuanceOfWarrants
|
2004864 | usd |
CY2022 | us-gaap |
Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
3011878 | usd |
CY2021 | us-gaap |
Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
4304279 | usd |
CY2022 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
5632273 | usd |
CY2021 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
6309143 | usd |
CY2022 | us-gaap |
Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
-324610 | usd |
CY2021 | us-gaap |
Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
59728 | usd |
CY2022 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
8812271 | usd |
CY2021 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
149206 | 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 |
CY2022Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
10433538 | usd |
CY2021Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
1621267 | usd |
CY2022Q4 | us-gaap |
Cash
Cash
|
9682133 | usd |
CY2021Q4 | us-gaap |
Cash
Cash
|
880821 | usd |
CY2022Q4 | us-gaap |
Restricted Cash Current
RestrictedCashCurrent
|
75057 | usd |
CY2021Q4 | us-gaap |
Restricted Cash Current
RestrictedCashCurrent
|
75057 | usd |
CY2022Q4 | us-gaap |
Restricted Cash Noncurrent
RestrictedCashNoncurrent
|
676348 | usd |
CY2021Q4 | us-gaap |
Restricted Cash Noncurrent
RestrictedCashNoncurrent
|
665389 | usd |
CY2022Q4 | us-gaap |
Restricted Cash
RestrictedCash
|
10433538 | usd |
CY2021Q4 | us-gaap |
Restricted Cash
RestrictedCash
|
1621267 | usd |
CY2022 | us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
-1038377 | usd |
CY2022Q4 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
-13875263 | usd |
CY2022 | wstrf |
Working Capital Deficit
WorkingCapitalDeficit
|
9568963 | usd |
CY2022 | us-gaap |
Use Of Estimates
UseOfEstimates
|
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Use of Estimates</i></b></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The preparation of these 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 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 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i> </i></b></span></p> | |
CY2022 | us-gaap |
Depreciation
Depreciation
|
26877 | usd |
CY2021 | us-gaap |
Depreciation
Depreciation
|
20380 | usd |
CY2022 | us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
13668410 | shares |
CY2021 | us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
12060618 | shares |
CY2022 | wstrf |
Mineral Assets Equipment And Kinetic Separation Intellectual Property And Other Property
MineralAssetsEquipmentAndKineticSeparationIntellectualPropertyAndOtherProperty
|
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; 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 0pt 0pt 0; text-align: justify"><span style="font: small-caps 10pt Times New Roman, Times, Serif; text-transform: uppercase"><b> </b></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company’s mining properties acquired on August 18, 2014 that the Company retains as of December 31, 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 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company’s mining properties acquired on September 16, 2015 that the Company retains as of December 31, 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 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="6" style="text-align: center; border-bottom: Black 1.5pt solid">As of December 31,</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">2022</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">2021</td><td style="padding-bottom: 1.5pt"> </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">Mineral properties and equipment, net</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">12,798,904</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">11,780,142</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; text-indent: -10pt; padding-left: 10pt">Kinetic separation intellectual property</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">9,488,051</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">9,488,051</td><td style="text-align: left"> </td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i> </i></b></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Mineral Properties and Equipment</i></b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">During the years ended December 31, 2022 and 2021, Western made purchases of $1,045,638 and $65,000, which principally consisted of mining equipment, to increase mining capacity.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"/><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Oil and Gas Lease and Easement</i></b></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During the years ended December 31, 2022 and 2021 the Company recognized aggregate revenue of $635,363 and $272,142, respectively, under these oil and gas lease arrangements.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Reclamation Liabilities</i></b></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i> </i></b></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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 December 31, 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 December 31, 2022 and December 31, 2021 were $300,276 and $271,620, respectively. The gross reclamation liabilities as of December 31, 2022 and December 31, 2021 are secured by financial warranties in the amount of $751,405 and $740,446, respectively.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Reclamation liability activity for the years ended December 31, 2022 and 2021 consists of:</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="6" style="text-align: center; border-bottom: Black 1.5pt solid">For the Years Ended<br/> December 31,</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">2022</td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="text-align: center; border-bottom: Black 1.5pt solid">2021</td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: justify">Beginning balance at January 1</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">271,620</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">309,940</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: justify">Accretion</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">28,656</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">9,142</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1.5pt">Discontinuation of reclamation liability</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-63">-</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(47,462</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; "> <td style="padding-bottom: 4pt">Ending Balance at December 31</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">300,276</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">271,620</td><td style="padding-bottom: 4pt; text-align: left"> </td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During the first quarter of 2021, the Company received notice that its Ferris Haggerty property was no longer considered to be subject to reclamation treatment. The Company recorded a discontinuation of the Ferris Haggerty property’s present value of $2,669 during the first quarter 2021. On April 29, 2021, the Company moved the Ferris Haggerty $10,000 restricted cash deposit into its cash after receiving payment from the state of Wyoming. During the fourth quarter of 2021, the Company received notice from the State of Colorado that its surety release request on the Hansen Picnic Tree property had been approved, and as such, this property is no longer subject to reclamation treatment. As the property was not a current development priority, Western completed reclamation on the property. The Company recorded a discontinuation of the Hansen Picnic Tree property’s present value of $44,793 during the fourth quarter of 2021. On December 29, 2021, the Company moved the $154,936 restricted cash deposit into its cash after receiving payment from the state of Colorado.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Sunday Mine Complex Permitting Status </i></b></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase"><b><i> </i></b></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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. Subsequently on March 20, 2023, the MLRB issued a board order for the Company to commence final reclamation, which upon completion will terminate mining operations at the Topaz Mine. Reclamation is to commence immediately at the Topaz Mine and is to be completed within five years by March 2028. The Company is currently working 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 and needed to re-permit the Topaz Mine with Colorado’s DRMS.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Kinetic Separation Intellectual Property</i></b></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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> | |
CY2022Q4 | us-gaap |
Mineral Properties Net
MineralPropertiesNet
|
12798904 | usd |
CY2021Q4 | us-gaap |
Mineral Properties Net
MineralPropertiesNet
|
11780142 | usd |
CY2022Q4 | wstrf |
Kinetic Separation Intellectual Property
KineticSeparationIntellectualProperty
|
9488051 | usd |
CY2021Q4 | wstrf |
Kinetic Separation Intellectual Property
KineticSeparationIntellectualProperty
|
9488051 | usd |
CY2022 | us-gaap |
Long Term Contract For Purchase Of Electric Power Estimated Annual Cost
LongTermContractForPurchaseOfElectricPowerEstimatedAnnualCost
|
1045638 | usd |
CY2021 | us-gaap |
Long Term Contract For Purchase Of Electric Power Estimated Annual Cost
LongTermContractForPurchaseOfElectricPowerEstimatedAnnualCost
|
65000 | usd |
CY2022Q4 | us-gaap |
Area Of Land
AreaOfLand
|
160 | acre |
CY2022 | 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. | |
CY2022Q4 | us-gaap |
Lessee Operating Lease Term Of Contract
LesseeOperatingLeaseTermOfContract
|
P8Y | |
CY2020Q2 | wstrf |
Lessee Operating Lease Term Of Contracts
LesseeOperatingLeaseTermOfContracts
|
P3Y | |
CY2022 | us-gaap |
Payments To Acquire Royalty Interests In Mining Properties
PaymentsToAcquireRoyaltyInterestsInMiningProperties
|
635363 | usd |
CY2021 | us-gaap |
Payments To Acquire Royalty Interests In Mining Properties
PaymentsToAcquireRoyaltyInterestsInMiningProperties
|
272142 | usd |
CY2022Q4 | us-gaap |
Asset Retirement Obligation
AssetRetirementObligation
|
751405 | usd |
CY2021Q4 | us-gaap |
Asset Retirement Obligation
AssetRetirementObligation
|
740446 | usd |
CY2022Q4 | wstrf |
Reclamation Liability
ReclamationLiability
|
75057 | usd |
CY2022 | 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 December 31, 2022 and December 31, 2021 were $300,276 and $271,620, respectively. | |
CY2022Q4 | 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 |
CY2022 | wstrf |
Accretion Reclamation Obligation
AccretionReclamationObligation
|
28656 | usd |
CY2021 | wstrf |
Accretion Reclamation Obligation
AccretionReclamationObligation
|
9142 | usd |
CY2021 | wstrf |
Discontinuation Of Reclamation Liabilitys
DiscontinuationOfReclamationLiabilitys
|
47462 | usd |
CY2022Q4 | us-gaap |
Asset Retirement Obligations Noncurrent
AssetRetirementObligationsNoncurrent
|
300276 | usd |
CY2021Q4 | us-gaap |
Asset Retirement Obligations Noncurrent
AssetRetirementObligationsNoncurrent
|
271620 | usd |
CY2021Q2 | us-gaap |
Restricted Cash
RestrictedCash
|
10000 | usd |
CY2021Q4 | us-gaap |
Restricted Cash
RestrictedCash
|
154936 | usd |
CY2022 | 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. | |
CY2014Q1 | us-gaap |
Debt Instrument Term
DebtInstrumentTerm
|
P20Y | |
CY2022Q4 | us-gaap |
Accounts Payable Trade Current
AccountsPayableTradeCurrent
|
403705 | usd |
CY2021Q4 | us-gaap |
Accounts Payable Trade Current
AccountsPayableTradeCurrent
|
510831 | usd |
CY2022Q4 | us-gaap |
Accrued Liabilities Current
AccruedLiabilitiesCurrent
|
147910 | usd |
CY2021Q4 | us-gaap |
Accrued Liabilities Current
AccruedLiabilitiesCurrent
|
188762 | usd |
CY2022Q4 | us-gaap |
Accounts Payable And Other Accrued Liabilities Current
AccountsPayableAndOtherAccruedLiabilitiesCurrent
|
551615 | 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 year ended December 31, 2022, the Company recorded revenue of $7,223,609 (at a price of approximately $57 per pound) and cost of revenue of $4,044,083, related to the delivery of the uranium. In May 2022, the Company received the cash proceeds from this sale. | |
CY2022Q2 | 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. | |
CY2021Q2 | wstrf |
Physical Uranium Inventory Purchase Amount
PhysicalUraniumInventoryPurchaseAmount
|
125000 | lbs |
CY2021Q2 | wstrf |
Physical Uranium Inventory Purchase Price Per Pound
PhysicalUraniumInventoryPurchasePricePerPound
|
32 | |
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. This uranium concentrate was subsequently delivered under the terms of the aforementioned uranium concentrates supply agreement in April 2022. | |
CY2021 | wstrf |
Physical Uranium Inventory Purchase Price
PhysicalUraniumInventoryPurchasePrice
|
4044083 | usd |
CY2021 | wstrf |
Physical Uranium Inventory Purchase Amount
PhysicalUraniumInventoryPurchaseAmount
|
125000 | lbs |
CY2021Q1 | us-gaap |
Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
|
1.2 | |
CY2021Q1 | us-gaap |
Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Exercisable Options Weighted Average Remaining Contractual Term2
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeExercisableOptionsWeightedAverageRemainingContractualTerm2
|
P3Y | |
CY2021Q1 | us-gaap |
Shares Issued
SharesIssued
|
3250000 | shares |
CY2021Q1 | us-gaap |
Debt Conversion Converted Instrument Warrants Or Options Issued1
DebtConversionConvertedInstrumentWarrantsOrOptionsIssued1
|
3250000 | shares |
CY2021Q1 | us-gaap |
Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
|
1.2 | |
CY2021Q1 | us-gaap |
Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Exercisable Options Weighted Average Remaining Contractual Term2
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeExercisableOptionsWeightedAverageRemainingContractualTerm2
|
P3Y | |
CY2021Q1 | us-gaap |
Shares Issued
SharesIssued
|
3125000 | shares |
CY2021Q1 | us-gaap |
Debt Conversion Converted Instrument Warrants Or Options Issued1
DebtConversionConvertedInstrumentWarrantsOrOptionsIssued1
|
3125000 | shares |
CY2021Q4 | us-gaap |
Shares Issued
SharesIssued
|
372966 | shares |
CY2021Q4 | us-gaap |
Debt Conversion Converted Instrument Warrants Or Options Issued1
DebtConversionConvertedInstrumentWarrantsOrOptionsIssued1
|
372966 | shares |
CY2022Q1 | us-gaap |
Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
|
2.5 | |
CY2022Q1 | us-gaap |
Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Exercisable Options Weighted Average Remaining Contractual Term2
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeExercisableOptionsWeightedAverageRemainingContractualTerm2
|
P3Y | |
CY2022Q1 | us-gaap |
Debt Conversion Converted Instrument Warrants Or Options Issued1
DebtConversionConvertedInstrumentWarrantsOrOptionsIssued1
|
98985 | shares |
CY2022 | wstrf |
Aggregate Warrant Were Exercised
AggregateWarrantWereExercised
|
2020351 | shares |
CY2021 | wstrf |
Aggregate Warrant Were Exercised
AggregateWarrantWereExercised
|
2066693 | shares |
CY2022 | wstrf |
Proceeds From Issuance Of Private Placements
ProceedsFromIssuanceOfPrivatePlacements
|
2620395 | usd |
CY2021 | wstrf |
Proceeds From Issuance Of Private Placements
ProceedsFromIssuanceOfPrivatePlacements
|
2004864 | usd |
CY2022Q1 | us-gaap |
Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Exercisable Options Weighted Average Remaining Contractual Term2
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeExercisableOptionsWeightedAverageRemainingContractualTerm2
|
P5Y | |
CY2022Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod
|
1665000 | shares |
CY2022Q4 | us-gaap |
Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Exercisable Options Weighted Average Remaining Contractual Term2
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeExercisableOptionsWeightedAverageRemainingContractualTerm2
|
P5Y | |
CY2022Q4 | us-gaap |
Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
|
1.6 | |
CY2022Q4 | us-gaap |
Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
|
1.18 | |
CY2022 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
|
0 | pure |
CY2022 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
|
P2Y7M6D | |
CY2022 | wstrf |
Cashless Exercise Of Stock Options
CashlessExerciseOfStockOptions
|
50000 | shares |
CY2022 | us-gaap |
Warrant Exercise Price Decrease
WarrantExercisePriceDecrease
|
1.3705 | |
CY2022 | us-gaap |
Warrant Exercise Price Decrease
WarrantExercisePriceDecrease
|
1 | |
CY2022 | us-gaap |
Employee Benefits And Share Based Compensation
EmployeeBenefitsAndShareBasedCompensation
|
1566520 | usd |
CY2021 | us-gaap |
Employee Benefits And Share Based Compensation
EmployeeBenefitsAndShareBasedCompensation
|
0 | usd |
CY2022 | wstrf |
Unamortized Stock Option Expense
UnamortizedStockOptionExpense
|
364095 | usd |
CY2021 | wstrf |
Unamortized Stock Option Expense
UnamortizedStockOptionExpense
|
0 | usd |
CY2022 | wstrf |
Payments To Acquire Mining Permits
PaymentsToAcquireMiningPermits
|
282851 | usd |
CY2021 | wstrf |
Payments To Acquire Mining Permits
PaymentsToAcquireMiningPermits
|
134261 | usd |
CY2022 | wstrf |
Mining Costs
MiningCosts
|
471622 | usd |
CY2021 | wstrf |
Mining Costs
MiningCosts
|
578034 | usd |
CY2022 | wstrf |
Royalties
Royalties
|
7860 | usd |
CY2021 | wstrf |
Royalties
Royalties
|
5362 | usd |
CY2022 | wstrf |
Mining Expenditures
MiningExpenditures
|
762333 | usd |
CY2021 | wstrf |
Mining Expenditures
MiningExpenditures
|
717657 | usd |
CY2022Q4 | us-gaap |
Business Combination Contingent Consideration Liability Noncurrent
BusinessCombinationContingentConsiderationLiabilityNoncurrent
|
340252 | usd |
CY2021Q4 | us-gaap |
Business Combination Contingent Consideration Liability Noncurrent
BusinessCombinationContingentConsiderationLiabilityNoncurrent
|
362794 | usd |
CY2022 | us-gaap |
Short Term Lease Cost
ShortTermLeaseCost
|
55198 | usd |
CY2021 | us-gaap |
Short Term Lease Cost
ShortTermLeaseCost
|
34427 | usd |
CY2022 | us-gaap |
Costs And Expenses Related Party
CostsAndExpensesRelatedParty
|
87221 | usd |
CY2021 | us-gaap |
Costs And Expenses Related Party
CostsAndExpensesRelatedParty
|
65753 | usd |
CY2022Q4 | us-gaap |
Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
|
5708411 | usd |
CY2021Q4 | us-gaap |
Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
|
5815866 | usd |
CY2022Q4 | wstrf |
Deferred Tax Assets Marketable Securities
DeferredTaxAssetsMarketableSecurities
|
16094 | usd |
CY2021Q4 | wstrf |
Deferred Tax Assets Marketable Securities
DeferredTaxAssetsMarketableSecurities
|
15720 | usd |
CY2022Q4 | us-gaap |
Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Accrued Liabilities
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAccruedLiabilities
|
35681 | usd |
CY2021Q4 | us-gaap |
Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Accrued Liabilities
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAccruedLiabilities
|
46604 | usd |
CY2022Q4 | wstrf |
Deferred Tax Assets Exploration Amortization
DeferredTaxAssetsExplorationAmortization
|
725959 | usd |
CY2022Q4 | us-gaap |
Deferred Tax Assets Unrealized Currency Losses
DeferredTaxAssetsUnrealizedCurrencyLosses
|
64761 | usd |
CY2022Q4 | wstrf |
Deferred Tax Assets Accretion Expenses
DeferredTaxAssetsAccretionExpenses
|
8639 | usd |
CY2022Q4 | us-gaap |
Deferred Tax Assets Gross
DeferredTaxAssetsGross
|
6559545 | usd |
CY2021Q4 | us-gaap |
Deferred Tax Assets Gross
DeferredTaxAssetsGross
|
5878190 | usd |
CY2022Q4 | us-gaap |
Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
|
3688584 | usd |
CY2021Q4 | us-gaap |
Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
|
3488821 | usd |
CY2022Q4 | us-gaap |
Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
|
2870961 | usd |
CY2021Q4 | us-gaap |
Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
|
2389369 | usd |
CY2022Q4 | us-gaap |
Deferred Tax Liabilities Property Plant And Equipment
DeferredTaxLiabilitiesPropertyPlantAndEquipment
|
5314338 | usd |
CY2021Q4 | us-gaap |
Deferred Tax Liabilities Property Plant And Equipment
DeferredTaxLiabilitiesPropertyPlantAndEquipment
|
5098256 | usd |
CY2022Q4 | us-gaap |
Deferred Tax Assets Other
DeferredTaxAssetsOther
|
265510 | usd |
CY2022Q4 | us-gaap |
Deferred Tax Liabilities
DeferredTaxLiabilities
|
2708887 | usd |
CY2021Q4 | us-gaap |
Deferred Tax Liabilities
DeferredTaxLiabilities
|
2708887 | usd |
CY2021Q4 | us-gaap |
Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
|
3488821 | usd |
CY2020Q4 | us-gaap |
Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
|
2997084 | usd |
CY2022 | us-gaap |
Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
|
199763 | usd |
CY2021 | us-gaap |
Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
|
491737 | usd |
CY2022Q4 | us-gaap |
Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
|
3688584 | usd |
CY2021Q4 | us-gaap |
Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
|
3488821 | usd |
CY2022 | us-gaap |
Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
|
0.21 | pure |
CY2021 | us-gaap |
Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
|
0.21 | pure |
CY2022 | us-gaap |
Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
|
-0.038 | pure |
CY2021 | us-gaap |
Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
|
-0.038 | pure |
CY2022 | us-gaap |
Effective Income Tax Rate Reconciliation Nondeductible Expense Share Based Compensation Cost
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseShareBasedCompensationCost
|
0.374 | pure |
CY2021 | us-gaap |
Effective Income Tax Rate Reconciliation Nondeductible Expense Share Based Compensation Cost
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseShareBasedCompensationCost
|
0 | pure |
CY2022 | us-gaap |
Effective Income Tax Rate Reconciliation Tax Contingencies Other
EffectiveIncomeTaxRateReconciliationTaxContingenciesOther
|
0.01 | pure |
CY2021 | us-gaap |
Effective Income Tax Rate Reconciliation Tax Contingencies Other
EffectiveIncomeTaxRateReconciliationTaxContingenciesOther
|
0 | pure |
CY2022 | us-gaap |
Effective Income Tax Rate Reconciliation Prior Year Income Taxes
EffectiveIncomeTaxRateReconciliationPriorYearIncomeTaxes
|
0.193 | pure |
CY2021 | us-gaap |
Effective Income Tax Rate Reconciliation Prior Year Income Taxes
EffectiveIncomeTaxRateReconciliationPriorYearIncomeTaxes
|
0 | pure |
CY2022 | us-gaap |
Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
|
-0.329 | pure |
CY2021 | us-gaap |
Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
|
0.248 | pure |
CY2022 | us-gaap |
Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
|
0 | pure |
CY2021 | us-gaap |
Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
|
0 | pure |
CY2022Q4 | us-gaap |
Deferred Tax Assets Tax Deferred Expense Other
DeferredTaxAssetsTaxDeferredExpenseOther
|
3688584 | usd |
CY2021Q4 | us-gaap |
Deferred Tax Assets Tax Deferred Expense Other
DeferredTaxAssetsTaxDeferredExpenseOther
|
3488821 | usd |
CY2022 | us-gaap |
Operating Loss Carryforwards Limitations On Use
OperatingLossCarryforwardsLimitationsOnUse
|
Internal Revenue Code (“IRC”) Section 382 imposes limitations on the use of net operating loss carryovers when the share ownership of one or more 5% shareholders (shareholders owning 5% or more of the Company’s outstanding capital stock) has increased on a cumulative basis over a period of three years by more than 50 percentage points. | |
CY2022Q4 | wstrf |
Working Capital
WorkingCapital
|
9568963 | usd |
CY2022Q4 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
9682133 | usd |
CY2022Q4 | us-gaap |
Inventory Net
InventoryNet
|
usd | |
CY2022Q4 | wstrf |
Subscription Payable
SubscriptionPayable
|
usd | |
CY2022Q4 | us-gaap |
Deferred Revenue Noncurrent
DeferredRevenueNoncurrent
|
usd | |
CY2022Q4 | us-gaap |
Commitments And Contingencies
CommitmentsAndContingencies
|
usd | |
CY2021 | us-gaap |
Common Stock Shares Authorized Unlimited
CommonStockSharesAuthorizedUnlimited
|
Unlimited | |
CY2022Q4 | us-gaap |
Treasury Stock Value
TreasuryStockValue
|
usd | |
CY2022 | wstrf |
Settlement Expense
SettlementExpense
|
usd | |
CY2021 | us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
usd | |
CY2022 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
-0.02 | |
CY2021 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
-0.06 | |
CY2022 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
42815086 | shares |
CY2021 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
usd | |
CY2021 | us-gaap |
Increase Decrease In Payables To Customers
IncreaseDecreaseInPayablesToCustomers
|
usd | |
CY2022 | wstrf |
Increase Decrease In Reclamation Liabilities
IncreaseDecreaseInReclamationLiabilities
|
usd | |
CY2021 | wstrf |
Increase Decrease In Contingent Consideration
IncreaseDecreaseInContingentConsideration
|
usd | |
CY2022 | us-gaap |
Interest Paid Net
InterestPaidNet
|
usd | |
CY2021 | us-gaap |
Interest Paid Net
InterestPaidNet
|
usd | |
CY2022 | us-gaap |
Income Taxes Paid
IncomeTaxesPaid
|
usd | |
CY2021 | us-gaap |
Income Taxes Paid
IncomeTaxesPaid
|
usd | |
CY2022 | wstrf |
Discontinuation Of Reclamation Liabilitys
DiscontinuationOfReclamationLiabilitys
|
usd | |
CY2021Q4 | wstrf |
Deferred Tax Assets Exploration Amortization
DeferredTaxAssetsExplorationAmortization
|
usd | |
CY2021Q4 | us-gaap |
Deferred Tax Assets Unrealized Currency Losses
DeferredTaxAssetsUnrealizedCurrencyLosses
|
usd | |
CY2021Q4 | wstrf |
Deferred Tax Assets Accretion Expenses
DeferredTaxAssetsAccretionExpenses
|
usd | |
CY2021Q4 | us-gaap |
Deferred Tax Assets Other
DeferredTaxAssetsOther
|
usd | |
CY2022 | dei |
Amendment Flag
AmendmentFlag
|
false | |
CY2022 | dei |
Document Fiscal Period Focus
DocumentFiscalPeriodFocus
|
FY | |
CY2022 | dei |
Entity Central Index Key
EntityCentralIndexKey
|
0001621906 |