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10-Q Filing

RARE ELEMENT RESOURCES LTD CIK: 1419806 Q1 2012
Filing Information
Form Type 10-Q
Accession Number 0001052918-11-000609
Period End Date 20110930
Filing Date 20111109
Fiscal Year 2012
Fiscal Period Q1
XBRL Instance res-20110930.xml
Filing Contents
Balance Sheet 48 line items
Line Item Tag Value Unit Period
Common Stock, Shares Issued CommonStockSharesIssued 44.10M shares Point-in-time
Common Stock, Shares Issued CommonStockSharesIssued 44.08M shares Point-in-time
Common Stock, Shares Outstanding CommonStockSharesOutstanding 44.08M shares Point-in-time
Common Stock, Shares Outstanding CommonStockSharesOutstanding 44.10M shares Point-in-time
Cash and cash equivalents CashCashEquivalentsAndShortTermInvestments $64.17M USD Point-in-time
Cash and cash equivalents CashCashEquivalentsAndShortTermInvestments $72.31M USD Point-in-time
Marketable securities MarketableSecuritiesCurrent $29.05K USD Point-in-time
Marketable securities MarketableSecuritiesCurrent $53.24K USD Point-in-time
Accounts receivable AccountsReceivableNetCurrent $560.15K USD Point-in-time
Accounts receivable AccountsReceivableNetCurrent $327.28K USD Point-in-time
Prepaid expenses OtherPrepaidExpenseCurrent $353.24K USD Point-in-time
Prepaid expenses OtherPrepaidExpenseCurrent $402.31K USD Point-in-time
TOTAL CURRENT ASSETS AssetsCurrent $73.05M USD Point-in-time
TOTAL CURRENT ASSETS AssetsCurrent $65.16M USD Point-in-time
Equipment PropertyPlantAndEquipmentNet $145.16K USD Point-in-time
Equipment PropertyPlantAndEquipmentNet $333.23K USD Point-in-time
Mineral properties MineralPropertiesNet $1.67M USD Point-in-time
Mineral properties MineralPropertiesNet $1.67M USD Point-in-time
Marketable securities MarketableSecuritiesNoncurrent $120.83K USD Point-in-time
Marketable securities MarketableSecuritiesNoncurrent $201.48K USD Point-in-time
Reclamation bonding RestrictedCashAndCashEquivalentsNoncurrent $422.28K USD Point-in-time
Reclamation bonding RestrictedCashAndCashEquivalentsNoncurrent $422.28K USD Point-in-time
TOTAL ASSETS Assets $75.48M USD Point-in-time
TOTAL ASSETS Assets $67.71M USD Point-in-time
Accounts payable and accrued liabilities AccountsPayableAndAccruedLiabilitiesCurrent $1.02M USD Point-in-time
Accounts payable and accrued liabilities AccountsPayableAndAccruedLiabilitiesCurrent $1.02M USD Point-in-time
Due to related parties DueToRelatedPartiesCurrent $43.16K USD Point-in-time
Due to related parties DueToRelatedPartiesCurrent $73.96K USD Point-in-time
TOTAL CURRENT LIABILITIES LiabilitiesCurrent $1.07M USD Point-in-time
TOTAL CURRENT LIABILITIES LiabilitiesCurrent $1.09M USD Point-in-time
Asset retirement obligation AssetRetirementObligationsNoncurrent $100.54K USD Point-in-time
Asset retirement obligation AssetRetirementObligationsNoncurrent $100.54K USD Point-in-time
Derivative liability DerivativeLiabilitiesNoncurrent $195.95K USD Point-in-time
Derivative liability DerivativeLiabilitiesNoncurrent $109.98K USD Point-in-time
TOTAL LIABILITIES Liabilities $1.39M USD Point-in-time
TOTAL LIABILITIES Liabilities $1.28M USD Point-in-time
Common shares, unlimited shares authorized; outstanding: September 30, 2011 - 44,096,674;June 30, 2011 - 44,076,674 CommonStockValue $91.46M USD Point-in-time
Common shares, unlimited shares authorized; outstanding: September 30, 2011 - 44,096,674;June 30, 2011 - 44,076,674 CommonStockValue $91.36M USD Point-in-time
ADDITIONAL PAID-IN CAPITAL AdditionalPaidInCapital $9.50M USD Point-in-time
ADDITIONAL PAID-IN CAPITAL AdditionalPaidInCapital $12.77M USD Point-in-time
ACCUMULATED OTHER COMPREHENSIVE LOSS AccumulatedOtherComprehensiveIncomeLossNetOfTax $-92.80K USD Point-in-time
ACCUMULATED OTHER COMPREHENSIVE LOSS AccumulatedOtherComprehensiveIncomeLossNetOfTax $3.31K USD Point-in-time
DEFICIT RetainedEarningsAccumulatedDeficit $-26.77M USD Point-in-time
DEFICIT RetainedEarningsAccumulatedDeficit $-37.70M USD Point-in-time
TOTAL SHAREHOLDERS' EQUITY StockholdersEquity $74.09M USD Point-in-time
TOTAL SHAREHOLDERS' EQUITY StockholdersEquity $66.43M USD Point-in-time
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY LiabilitiesAndStockholdersEquity $75.48M USD Point-in-time
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY LiabilitiesAndStockholdersEquity $67.71M USD Point-in-time
Income Statement 47 line items
Line Item Tag Value Unit Period
Exploration expense ExplorationExpenseMining $3.85M USD 1 Quarter
Exploration expense ExplorationExpenseMining $2.84M USD 1 Quarter
Exploration expense ExplorationExpenseMining $16.82M USD 49 Qtrs
Corporate administration and investor relations GeneralAndAdministrativeExpense $4.55M USD 49 Qtrs
Corporate administration and investor relations GeneralAndAdministrativeExpense $506.68K USD 1 Quarter
Corporate administration and investor relations GeneralAndAdministrativeExpense $157.20K USD 1 Quarter
Amortization AdjustmentForAmortization $3.06K USD 1 Quarter
Amortization AdjustmentForAmortization $69.49K USD 49 Qtrs
Amortization AdjustmentForAmortization $20.26K USD 1 Quarter
Corporate development BusinessDevelopment $19.81K USD 1 Quarter
Corporate development BusinessDevelopment $19.00K USD 1 Quarter
Corporate development BusinessDevelopment $297.83K USD 49 Qtrs
Foreign exchange (gain)/loss ForeignCurrencyTransactionGainLossBeforeTax $706.47K USD 49 Qtrs
Foreign exchange (gain)/loss ForeignCurrencyTransactionGainLossBeforeTax $3.50M USD 1 Quarter
Foreign exchange (gain)/loss ForeignCurrencyTransactionGainLossBeforeTax $-212.72K USD 1 Quarter
Management, accounting and secretarial RelatedPartyTransactionAmountsOfTransaction $89.14K USD 1 Quarter
Management, accounting and secretarial RelatedPartyTransactionAmountsOfTransaction $104.28K USD 1 Quarter
Management, accounting and secretarial RelatedPartyTransactionAmountsOfTransaction $1.95M USD 49 Qtrs
Stock-based compensation ShareBasedCompensation $12.46M USD 49 Qtrs
Stock-based compensation ShareBasedCompensation $448.87K USD 1 Quarter
Stock-based compensation ShareBasedCompensation $3.31M USD 1 Quarter
TOTAL EXPENSES OperatingExpenses $11.31M USD 1 Quarter
TOTAL EXPENSES OperatingExpenses $3.34M USD 1 Quarter
TOTAL EXPENSES OperatingExpenses $36.85M USD 49 Qtrs
Interest income InvestmentIncomeInterest $-25.12K USD 1 Quarter
Interest income InvestmentIncomeInterest $-1.10M USD 49 Qtrs
Interest income InvestmentIncomeInterest $-286.29K USD 1 Quarter
Write-off of mineral properties and others GainLossOnDispositionOfProperty $1.05M USD 49 Qtrs
Mark to market (gain)/loss on share purchase warrants DerivativeGainLossOnDerivativeNet $2.16M USD 1 Quarter
Mark to market (gain)/loss on share purchase warrants DerivativeGainLossOnDerivativeNet $897.02K USD 49 Qtrs
Mark to market (gain)/loss on share purchase warrants DerivativeGainLossOnDerivativeNet $-85.97K USD 1 Quarter
TOTAL OTHER ITEMS OtherExpenses $2.13M USD 1 Quarter
TOTAL OTHER ITEMS OtherExpenses $-372.26K USD 1 Quarter
TOTAL OTHER ITEMS OtherExpenses $849.82K USD 49 Qtrs
NET LOSS FOR THE PERIOD NetIncomeLoss $37.70M USD 49 Qtrs
NET LOSS FOR THE PERIOD NetIncomeLoss $10.93M USD 1 Quarter
NET LOSS FOR THE PERIOD NetIncomeLoss $5.48M USD 1 Quarter
Unrealized (gain)/loss on marketable securities OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax $92.80K USD 49 Qtrs
Unrealized (gain)/loss on marketable securities OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax $96.11K USD 1 Quarter
Unrealized (gain)/loss on marketable securities OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax $-30.13K USD 1 Quarter
NET LOSS AND COMPREHENSIVE LOSS FOR THE PERIOD ComprehensiveIncomeNetOfTax $5.45M USD 1 Quarter
NET LOSS AND COMPREHENSIVE LOSS FOR THE PERIOD ComprehensiveIncomeNetOfTax $37.80M USD 49 Qtrs
NET LOSS AND COMPREHENSIVE LOSS FOR THE PERIOD ComprehensiveIncomeNetOfTax $11.03M USD 1 Quarter
LOSS PER SHARE - BASIC AND DILUTED EarningsPerShareBasicAndDiluted $-0.17 USD 1 Quarter
LOSS PER SHARE - BASIC AND DILUTED EarningsPerShareBasicAndDiluted $-0.25 USD 1 Quarter
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING WeightedAverageNumberOfSharesOutstandingBasic 32.44M shares 1 Quarter
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING WeightedAverageNumberOfSharesOutstandingBasic 44.10M shares 1 Quarter
Cash Flow Statement 66 line items
Line Item Tag Value Unit Period
Net loss for the period NetIncomeLoss $10.93M USD 1 Quarter
Net loss for the period NetIncomeLoss $5.48M USD 1 Quarter
Net loss for the period NetIncomeLoss $37.70M USD 49 Qtrs
Amortization AdjustmentForAmortization $3.06K USD 1 Quarter
Amortization AdjustmentForAmortization $69.49K USD 49 Qtrs
Amortization AdjustmentForAmortization $20.26K USD 1 Quarter
Asset retirement obligation CostsIncurredAssetRetirementObligationIncurred $100.54K USD 49 Qtrs
Fair value of warrants received pursuant to the sale of mineral properties FairValueOfAssetsAcquired $-15.08K USD 49 Qtrs
Foreign exchange (gain)/loss ForeignCurrencyTransactionGainLossRealized $8.74 USD 1 Quarter
Foreign exchange (gain)/loss ForeignCurrencyTransactionGainLossRealized $8.74K USD 49 Qtrs
Mark to market gain/(loss) on share purchase warrants DerivativeGainLossOnDerivativeNet $2.16M USD 1 Quarter
Mark to market gain/(loss) on share purchase warrants DerivativeGainLossOnDerivativeNet $897.02K USD 49 Qtrs
Mark to market gain/(loss) on share purchase warrants DerivativeGainLossOnDerivativeNet $-85.97K USD 1 Quarter
Write-off of mineral properties and others PropertyPlantAndEquipmentDisposals $16.62K USD 49 Qtrs
Stock-based compensation ShareBasedCompensation $3.31M USD 1 Quarter
Stock-based compensation ShareBasedCompensation $448.87K USD 1 Quarter
Stock-based compensation ShareBasedCompensation $12.46M USD 49 Qtrs
Interest income accrued IncreaseDecreaseInAccruedInterestReceivableNet $-128.85K USD 1 Quarter
Interest income accrued IncreaseDecreaseInAccruedInterestReceivableNet $-420.37K USD 49 Qtrs
Accounts receivable IncreaseDecreaseInAccountsReceivable $-85.36K USD 49 Qtrs
Accounts receivable IncreaseDecreaseInAccountsReceivable $-104.02K USD 1 Quarter
Accounts receivable IncreaseDecreaseInAccountsReceivable $-13.06K USD 1 Quarter
Prepaid expenses IncreaseDecreaseInPrepaidExpense $-1.93K USD 1 Quarter
Prepaid expenses IncreaseDecreaseInPrepaidExpense $-49.07K USD 1 Quarter
Prepaid expenses IncreaseDecreaseInPrepaidExpense $-413.83K USD 49 Qtrs
Accounts payable and accrued liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilities $2.92K USD 1 Quarter
Accounts payable and accrued liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilities $802.68K USD 49 Qtrs
Accounts payable and accrued liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilities $313.25K USD 1 Quarter
Due to related party IncreaseDecreaseInDueToRelatedParties $-30.80K USD 1 Quarter
Due to related party IncreaseDecreaseInDueToRelatedParties $13.97K USD 49 Qtrs
Due to related party IncreaseDecreaseInDueToRelatedParties $15.46K USD 1 Quarter
Net cash used in operating activities NetCashProvidedByUsedInOperatingActivities $-24.27M USD 49 Qtrs
Net cash used in operating activities NetCashProvidedByUsedInOperatingActivities $-2.55M USD 1 Quarter
Net cash used in operating activities NetCashProvidedByUsedInOperatingActivities $-7.99M USD 1 Quarter
Marketable securities acquired PaymentsToAcquireMarketableSecurities $-207.29K USD 49 Qtrs
Mineral property costs PaymentsToAcquireMineralRights $-28.82K USD 49 Qtrs
Reclamation bonding IncreaseDecreaseInRestrictedCash $-311.75K USD 1 Quarter
Reclamation bonding IncreaseDecreaseInRestrictedCash $-421.75K USD 49 Qtrs
Purchase of equipment PaymentsToAcquireMachineryAndEquipment $-402.73K USD 49 Qtrs
Purchase of equipment PaymentsToAcquireMachineryAndEquipment $-208.33K USD 1 Quarter
Payments received for sale/option of mineral properties ProceedsFromSaleOfOtherInvestments $279.49K USD 49 Qtrs
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-311.75K USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-208.33K USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-781.10K USD 49 Qtrs
Advance of promissory note ProceedsFromNotesPayable $110.74K USD 49 Qtrs
Repayment of promissory note RepaymentsOfNotesPayable $-129.29K USD 49 Qtrs
Cash received for common shares ProceedsFromIssuanceOfCommonStock $2.35M USD 1 Quarter
Cash received for common shares ProceedsFromIssuanceOfCommonStock $93.81M USD 49 Qtrs
Cash received for common shares ProceedsFromIssuanceOfCommonStock $55.41K USD 1 Quarter
Share issue costs PaymentsOfStockIssuanceCosts $-4.79M USD 49 Qtrs
Share issue costs PaymentsOfStockIssuanceCosts $114.34K USD 1 Quarter
Net cash provided by financing activities NetCashProvidedByUsedInFinancingActivities $2.47M USD 1 Quarter
Net cash provided by financing activities NetCashProvidedByUsedInFinancingActivities $55.41K USD 1 Quarter
Net cash provided by financing activities NetCashProvidedByUsedInFinancingActivities $89.00M USD 49 Qtrs
Cash acquired in capital transaction ProceedsFromIssuanceOfLongTermDebtAndCapitalSecuritiesNet $218.80K USD 49 Qtrs
Increase/(decrease) in cash and cash equivalents CashAndCashEquivalentsPeriodIncreaseDecrease $-8.14M USD 1 Quarter
Increase/(decrease) in cash and cash equivalents CashAndCashEquivalentsPeriodIncreaseDecrease $-399.51K USD 1 Quarter
Increase/(decrease) in cash and cash equivalents CashAndCashEquivalentsPeriodIncreaseDecrease $64.17M USD 49 Qtrs
Cash and cash equivalents - beginning of the period CashAndCashEquivalentsAtCarryingValue $11.46M USD Point-in-time
Cash and cash equivalents - beginning of the period CashAndCashEquivalentsAtCarryingValue $11.06M USD Point-in-time
Cash and cash equivalents - beginning of the period CashAndCashEquivalentsAtCarryingValue $72.31M USD Point-in-time
Cash and cash equivalents - beginning of the period CashAndCashEquivalentsAtCarryingValue $64.17M USD Point-in-time
Cash and cash equivalents - end of the period CashAndCashEquivalentsAtCarryingValue $11.46M USD Point-in-time
Cash and cash equivalents - end of the period CashAndCashEquivalentsAtCarryingValue $11.06M USD Point-in-time
Cash and cash equivalents - end of the period CashAndCashEquivalentsAtCarryingValue $72.31M USD Point-in-time
Cash and cash equivalents - end of the period CashAndCashEquivalentsAtCarryingValue $64.17M USD Point-in-time
Stockholders Equity 9 line items
Line Item Tag Value Unit Period
Stock-based compensation ShareBasedCompensation $12.46M USD 49 Qtrs
Stock-based compensation ShareBasedCompensation $448.87K USD 1 Quarter
Stock-based compensation ShareBasedCompensation $3.31M USD 1 Quarter
Unrealized loss on available for sale investments OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax $92.80K USD 49 Qtrs
Unrealized loss on available for sale investments OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax $96.11K USD 1 Quarter
Unrealized loss on available for sale investments OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax $-30.13K USD 1 Quarter
Net loss for the period NetIncomeLoss $10.93M USD 1 Quarter
Net loss for the period NetIncomeLoss $5.48M USD 1 Quarter
Net loss for the period NetIncomeLoss $37.70M USD 49 Qtrs

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.

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