Uranium program (iii) a net gain of $0.32 million on the sale of 79,344 pounds of vanadium ('V2O5') (iv) increased expenses associated with preparing four (4) of our uranium mines for production (v) expenses associated with developing commercial rare earth element ('REE') separation capabilities and (vi) a non-cash mark-to-market loss on investments accounted for at fair value of $2.96 million. At current commodity prices, the Company's product inventory has a value of $52.53 million During the three months ended March 31, 2023, the Company realized net income of $114.26 million, or $0.72 per share, primarily due to: (i) a net gain of $116.45 million on the sale of the Company's Alta Mesa in situ recovery ('ISR') project in Texas (ii) a net gain of $10.76 million on the sale of 300,000 pounds of uranium ('U3O8') to the U.S. As of March 31, 2023, the Company had a robust balance sheet with $143.61 million of working capital (versus $116.97 million at December 31, 2022), including $43.83 million of cash and cash equivalents, $60.44 million of marketable securities, $38.00 million of inventory, and no debt.
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