Last C$1.20 CAD
Change Today +0.07 / 6.19%
Volume 5.6K
As of 3:35 PM 08/29/14 All times are local (Market data is delayed by at least 15 minutes).

rare element resources ltd (RES) Snapshot

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09/24/13 - C$3.60
52 Week Low
08/18/14 - C$1.10
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rare element resources ltd (RES) Details

Rare Element Resources Ltd., a mineral resource company, focuses on the exploration and development of gold and rare-earth element (REE) deposits. The company holds a 100% interest in the Bear Lodge property that comprises the Bear Lodge REE project and the Sundance Gold project located in central Crook County, northeastern Wyoming. Rare Element Resources Ltd. is based in Lakewood, Colorado.

26 Employees
Last Reported Date: 03/17/14

rare element resources ltd (RES) Top Compensated Officers

Chief Executive Officer, President, Director ...
Total Annual Compensation: $312.0K
Chief Financial Officer, Principal Accounting...
Total Annual Compensation: $11.4K
Chief Operating Officer
Total Annual Compensation: $280.8K
Chief Administrative Officer, Vice President,...
Total Annual Compensation: $249.8K
Vice President of Government and Community Re...
Total Annual Compensation: $179.0K
Compensation as of Fiscal Year 2013.

rare element resources ltd (RES) Key Developments

Rare Element Resources Announces 2014 Pre-Feasibility Study on the Bear Lodge Project

Rare Element Resources Ltd. announced that it has incorporated the significant resource expansion and numerous operational improvements announced over the last several months into a positive 2014 Pre-Feasibility Study (PFS) for the Project. PFS Highlights include: Low initial capital cost of $290 million; Mining of high-grade zone in Years 1 -- 9 boosts initial cash flows and results in a 2.9-year payback from the start of production; After-tax net present value (NPV) of $330 million at a 10% discount rate, and after-tax internal rate of return (IRR) of 29%; 45-year Project life based on the expanded Measured and Indicated (M&I) mineral resource -- additional upside possible from Inferred mineral resource, including the potential delineation of additional high-grade mineral resource, and heavy rare earth (HRE)-enriched exploration targets; A proprietary recovery process that consistently produces a 97+% pure, near thorium-free, total rare earth oxide (TREO) concentrate; Average annual production of over 7,500 tons (6,800 tonnes) of TREO concentrate. Various activities undertaken by the Company in connection with the PFS have significantly de-risked the Project, including: Successfully completed additional pilot plant studies and further refined the process technology, Sized the Project to balance initial capital cost with meaningful market penetration while preserving ability to accelerate production when market conditions warrant, Advanced the permitting process, most significantly with the progress on the draft Environmental Impact Statement (EIS), and Provided concentrate product to potential customers/partners for evaluation where the initial feedback has been positive.

Rare Element Resources Ltd. Reports Unaudited Consolidated Earnings Results for the Second Quarter Ended June 30, 2014

Rare Element Resources Ltd. reported unaudited consolidated earnings results for the second quarter ended June 30, 2014. Net loss for the quarter ended June 30, 2014 totaled $3.1 million, or $0.06 per share, compared with a net loss of $5.3 million, or $0.12 per share, for the same period in 2013. The key drivers behind the lower year-over-year expenses were primarily: a decrease in exploration and evaluation expenses of $0.9 million, the result of a shift to technical and economic evaluation with a related reduction in exploration expenses offset slightly by an increase in expenses for metallurgical and engineering test work; lower corporate administrative cost of $0.5 million, primarily due to lower stock-based compensation expense; and a favorable variance in currency translation of $0.9 million.

Rare Element Resources Ltd. Announces Board Changes

Rare Element Resources Ltd. announced that Mr. Patrick M. James was appointed by the company's Board to serve as Chairman, replacing Dr. Donald Ranta who, as previously announced, retired from the Board effective June 12, 2014. Mr. James brings significant operating and executive experience to the company through his 45 years in the mining industry, including most recently as President, CEO and a director of Rio Algom Ltd. and as the current Chairman of the Board of General Moly Inc.


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