The summarized operating results of the Company’s reportable segments are as follows:


	Three Months Ended June 30, 2026
			Rare		Heavy
			Earth		Mineral				Consolidated
	Uranium		Elements		Sands		Unallocated(1)		Total
Revenues	$	25,108	$	—	$	—	$	—	$	25,108
Operating costs and expenses:
Costs applicable to revenues	10,690		—		—		—		10,690

Exploration, development and processing(2)(3)	6,238		544		1,333		—		8,115
Standby(3)	2,872		—		—		—		2,872
Accretion of asset retirement obligations	391		—		3,320		—		3,711

Selling, general and administrative(2)	3,487		4,737		7,698		—		15,922
Share-based compensation	1,159		1,257		1,225		—		3,641
Transaction and integration related costs	—		—		—		10,732		10,732
Total operating costs and expenses	24,837		6,538		13,576		10,732		55,683
Operating income (loss)	$	271	$	(6,538)	$	(13,576)	$	(10,732)	$	(30,575)

(3) Includes depreciation, depletion and amortization expense of $0.79 million, $0.77 million and $0.11 million related to the uranium, REE and HMS segments, respectively. Depreciation, depletion and amortization expense is included in Exploration, development and processing and Standby on the unaudited Condensed Consolidated Statement of Operations and Comprehensive Loss.


	Three Months Ended June 30, 2025
			Rare		Heavy
			Earth		Mineral		Consolidated
	Uranium		Elements		Sands		Total
Revenues	$	3,934	$	—	$	278	$	4,212
Operating costs and expenses:
Costs applicable to revenues	2,659		—		996		3,655

Exploration, development and processing(1)(2)	4,729		1,017		3,329		9,075
Standby(2)	1,780		—		—		1,780
Accretion of asset retirement obligations	356		—		506		862

Selling, general and administrative(1)	2,534		3,061		6,535		12,130
Share-based compensation	520		564		1,801		2,885

Total operating costs and expenses	12,578		4,642		13,167		30,387
Operating loss	$	(8,644)	$	(4,642)	$	(12,889)	$	(26,175)

(2) Includes depreciation, depletion and amortization expense of $0.79 million, $0.59 million and $0.05 million related to the uranium, REE and HMS segments, respectively. Depreciation, depletion and amortization expense is included in Exploration, development and processing and Standby on the unaudited Condensed Consolidated Statement of Operations and Comprehensive Loss.


	Six Months Ended June 30, 2026
			Rare		Heavy
			Earth		Mineral				Consolidated
	Uranium		Elements		Sands		Unallocated(1)		Total
Revenues	$	60,946	$	—	$	—	$	—	$	60,946
Operating costs and expenses:
Costs applicable to revenues	32,165		—		—		—		32,165

Exploration, development and processing(2)(3)	12,528		1,084		2,597		—		16,209
Standby(3)	6,208		—		—		—		6,208
Accretion of asset retirement obligations	771		—		3,537		—		4,308

Selling, general and administrative(2)	6,202		8,691		14,399		—		29,292
Share-based compensation	2,354		2,632		2,166		—		7,152
Transactions and integration related costs	—		—		—		13,115		13,115
Total operating costs and expenses	60,228		12,407		22,699		13,115		108,449
Operating income (loss)	$	718	$	(12,407)	$	(22,699)	$	(13,115)	$	(47,503)

(3) Includes depreciation, depletion and amortization expense of $1.55 million, $1.36 million and $0.19 million related to the uranium, REE and HMS segments, respectively. Depreciation, depletion and amortization expense is included in Exploration, development and processing and Standby on the unaudited Condensed Consolidated Statement of Operations and Comprehensive Loss.


	Six Months Ended June 30, 2025
			Rare		Heavy
			Earth		Mineral		Consolidated
	Uranium		Elements		Sands		Total
Revenues	$	5,289	$	—	$	15,821	$	21,110
Operating costs and expenses:
Costs applicable to revenues	2,659		—		19,120		21,779

Exploration, development and processing(1)(2)	9,925		1,017		4,579		15,521
Standby(2)	3,647		—		—		3,647
Accretion of asset retirement obligations	702		—		1,233		1,935

Selling, general and administrative(1)	7,193		6,172		11,741		25,106
Share-based compensation	1,408		1,067		3,015		5,490

Total operating costs and expenses	25,534		8,256		39,688		73,478
Operating loss	$	(20,245)	$	(8,256)	$	(23,867)	$	(52,368)

(2) Includes depreciation, depletion and amortization expense of $1.41 million, $1.10 million and $0.10 million related to the uranium, REE and HMS segments, respectively. Depreciation, depletion and amortization expense is included in Exploration, development and processing and Standby on the unaudited Condensed Consolidated Statement of Operations and Comprehensive Loss.