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10-Q Filing

RARE ELEMENT RESOURCES LTD CIK: 1419806 Q1 2013
Filing Information
Form Type 10-Q
Accession Number 0001052918-12-000504
Period End Date 20120930
Filing Date 20121106
Fiscal Year 2013
Fiscal Period Q1
XBRL Instance ree-20120930.xml
Filing Contents

This filing contains the following financial statements:

Balance Sheet 52 line items
Line Item Tag Value Unit Period
Common Stock, Par Value CommonStockParOrStatedValuePerShare - USD Point-in-time
Common Stock, Par Value CommonStockParOrStatedValuePerShare - USD Point-in-time
Common Stock, Shares Authorized CommonStockSharesAuthorized - shares Point-in-time
Common Stock, Shares Authorized CommonStockSharesAuthorized - shares Point-in-time
Common Stock, Shares Issued CommonStockSharesIssued 44.77M shares Point-in-time
Common Stock, Shares Issued CommonStockSharesIssued 44.36M shares Point-in-time
Cash and cash equivalents Cash $32.07M USD Point-in-time
Cash and cash equivalents Cash $37.03M USD Point-in-time
Short-term investments ShortTermInvestments $15.25M USD Point-in-time
Short-term investments ShortTermInvestments $14.63M USD Point-in-time
Common Stock, Shares Outstanding CommonStockSharesOutstanding 44.77M shares Point-in-time
Common Stock, Shares Outstanding CommonStockSharesOutstanding 44.36M shares Point-in-time
Interest receivable InterestReceivable $175.00K USD Point-in-time
Interest receivable InterestReceivable $230.00K USD Point-in-time
Prepaid expenses PrepaidExpenseCurrent $202.00K USD Point-in-time
Prepaid expenses PrepaidExpenseCurrent $240.00K USD Point-in-time
Marketable securities MarketableSecurities $74.00K USD Point-in-time
Marketable securities MarketableSecurities $34.00K USD Point-in-time
Accounts receivable AccountsReceivableNetCurrent $271.00K USD Point-in-time
Accounts receivable AccountsReceivableNetCurrent $23.00K USD Point-in-time
Total Current Assets AssetsCurrent $52.17M USD Point-in-time
Total Current Assets AssetsCurrent $48.06M USD Point-in-time
Equipment PropertyPlantAndEquipmentNet $608.00K USD Point-in-time
Equipment PropertyPlantAndEquipmentNet $551.00K USD Point-in-time
Mineral properties MineralPropertiesNet $27.00K USD Point-in-time
Mineral properties MineralPropertiesNet $27.00K USD Point-in-time
Restricted cash RestrictedCashAndCashEquivalentsAtCarryingValue $422.00K USD Point-in-time
Restricted cash RestrictedCashAndCashEquivalentsAtCarryingValue - USD Point-in-time
Total assets Assets $53.23M USD Point-in-time
Total assets Assets $48.64M USD Point-in-time
Accounts payable and accrued liabilities AccountsPayableAndAccruedLiabilitiesCurrent $1.97M USD Point-in-time
Accounts payable and accrued liabilities AccountsPayableAndAccruedLiabilitiesCurrent $2.06M USD Point-in-time
Total Current Liabilities LiabilitiesCurrent $2.06M USD Point-in-time
Total Current Liabilities LiabilitiesCurrent $1.97M USD Point-in-time
Asset retirement obligation AssetRetirementObligation $435.00K USD Point-in-time
Asset retirement obligation AssetRetirementObligation $435.00K USD Point-in-time
Total liabilities Liabilities $2.49M USD Point-in-time
Total liabilities Liabilities $2.40M USD Point-in-time
Commitments and contingencies CommitmentsAndContingencies - USD Point-in-time
Commitments and contingencies CommitmentsAndContingencies - USD Point-in-time
Common shares, no par value - unlimited shares authorized; shares outstanding September 30, 2012 - 44,769,245 June 30, 2012 - 44,364,245 CommonStockValue $93.14M USD Point-in-time
Common shares, no par value - unlimited shares authorized; shares outstanding September 30, 2012 - 44,769,245 June 30, 2012 - 44,364,245 CommonStockValue $92.50M USD Point-in-time
Additional paid in capital AdditionalPaidInCapital $20.05M USD Point-in-time
Additional paid in capital AdditionalPaidInCapital $20.76M USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-45.00K USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-42.00K USD Point-in-time
Accumulated deficit during exploration stage RetainedEarningsAccumulatedDeficit $-67.62M USD Point-in-time
Accumulated deficit during exploration stage RetainedEarningsAccumulatedDeficit $-61.77M USD Point-in-time
Total shareholders' equity StockholdersEquity $50.74M USD Point-in-time
Total shareholders' equity StockholdersEquity $46.24M USD Point-in-time
Total liabilities and shareholders' equity LiabilitiesAndStockholdersEquity $48.64M USD Point-in-time
Total liabilities and shareholders' equity LiabilitiesAndStockholdersEquity $53.23M USD Point-in-time
Income Statement 50 line items
Line Item Tag Value Unit Period
Exploration ExplorationExpenseMining $-3.85M USD 1 Quarter
Exploration ExplorationExpenseMining $-33.52M USD 53 Qtrs
Exploration ExplorationExpenseMining $-5.38M USD 1 Quarter
Corporate administration GeneralAndAdministrativeExpense $-3.94M USD 1 Quarter
Corporate administration GeneralAndAdministrativeExpense $-2.39M USD 1 Quarter
Corporate administration GeneralAndAdministrativeExpense $-33.82M USD 53 Qtrs
Depreciation Depreciation $-46.00K USD 1 Quarter
Depreciation Depreciation $-218.00K USD 53 Qtrs
Depreciation Depreciation $-20.00K USD 1 Quarter
Gain/(loss) on currency translation ForeignCurrencyTransactionGainLossBeforeTax $-1.80M USD 1 Quarter
Gain/(loss) on currency translation ForeignCurrencyTransactionGainLossBeforeTax $3.50M USD 1 Quarter
Gain/(loss) on currency translation ForeignCurrencyTransactionGainLossBeforeTax $-1.98M USD 53 Qtrs
Write-down of mineral property PropertyPlantAndEquipmentDisposals - USD 1 Quarter
Write-down of mineral property PropertyPlantAndEquipmentDisposals $2.92M USD 53 Qtrs
Write-down of mineral property PropertyPlantAndEquipmentDisposals - USD 1 Quarter
Total operating expenses OperatingExpenses $-6.02M USD 1 Quarter
Total operating expenses OperatingExpenses $-11.31M USD 1 Quarter
Total operating expenses OperatingExpenses $-68.51M USD 53 Qtrs
Interest income InvestmentIncomeInterest $168.00K USD 1 Quarter
Interest income InvestmentIncomeInterest $1.84M USD 53 Qtrs
Interest income InvestmentIncomeInterest $286.00K USD 1 Quarter
Other income OtherNonoperatingIncomeExpense - USD 1 Quarter
Other income OtherNonoperatingIncomeExpense - USD 1 Quarter
Other income OtherNonoperatingIncomeExpense $10.00K USD 53 Qtrs
Loss on sale of marketable securities MarketableSecuritiesGainLoss $-18.00K USD 53 Qtrs
Loss on sale of marketable securities MarketableSecuritiesGainLoss - USD 1 Quarter
Loss on sale of marketable securities MarketableSecuritiesGainLoss $-7.00K USD 1 Quarter
Unrealized gain/(loss) on derivatives UnrealizedGainlossOnDerivatives1 - USD 1 Quarter
Unrealized gain/(loss) on derivatives UnrealizedGainlossOnDerivatives1 $-948.00K USD 53 Qtrs
Unrealized gain/(loss) on derivatives UnrealizedGainlossOnDerivatives1 $86.00K USD 1 Quarter
Total non-operating income NonoperatingIncomeExpense $887.00K USD 53 Qtrs
Total non-operating income NonoperatingIncomeExpense $161.00K USD 1 Quarter
Total non-operating income NonoperatingIncomeExpense $372.00K USD 1 Quarter
Net loss NetIncomeLoss $-67.62M USD 53 Qtrs
Net loss NetIncomeLoss $-5.86M USD 1 Quarter
Net loss NetIncomeLoss $-10.93M USD 1 Quarter
Realized loss on available-for-sale securities AvailableForSaleSecuritiesGrossRealizedGainLossNet $7.00K USD 1 Quarter
Realized loss on available-for-sale securities AvailableForSaleSecuritiesGrossRealizedGainLossNet $18.00K USD 53 Qtrs
Realized loss on available-for-sale securities AvailableForSaleSecuritiesGrossRealizedGainLossNet - USD 1 Quarter
Unrealized gain/(loss) on available-for-sale securities AvailableForSaleSecuritiesChangeInNetUnrealizedHoldingGainLossNetOfTax $-4.00K USD 1 Quarter
Unrealized gain/(loss) on available-for-sale securities AvailableForSaleSecuritiesChangeInNetUnrealizedHoldingGainLossNetOfTax $-96.00K USD 1 Quarter
Unrealized gain/(loss) on available-for-sale securities AvailableForSaleSecuritiesChangeInNetUnrealizedHoldingGainLossNetOfTax $-60.00K USD 53 Qtrs
COMPREHENSIVE LOSS ComprehensiveIncomeNetOfTax $-11.03M USD 1 Quarter
COMPREHENSIVE LOSS ComprehensiveIncomeNetOfTax $-67.67M USD 53 Qtrs
COMPREHENSIVE LOSS ComprehensiveIncomeNetOfTax $-5.86M USD 1 Quarter
LOSS PER SHARE - BASIC AND DILUTED EarningsPerShareBasicAndDiluted $-0.25 USD 1 Quarter
LOSS PER SHARE - BASIC AND DILUTED EarningsPerShareBasicAndDiluted $-0.13 USD 1 Quarter
LOSS PER SHARE - BASIC AND DILUTED EarningsPerShareBasicAndDiluted - USD 53 Qtrs
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING WeightedAverageNumberOfShareOutstandingBasicAndDiluted 44.39M shares 1 Quarter
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING WeightedAverageNumberOfShareOutstandingBasicAndDiluted 44.10M shares 1 Quarter
Cash Flow Statement 106 line items
Line Item Tag Value Unit Period
Net loss for the period NetIncomeLoss $-67.62M USD 53 Qtrs
Net loss for the period NetIncomeLoss $-5.86M USD 1 Quarter
Net loss for the period NetIncomeLoss $-10.93M USD 1 Quarter
Depreciation DepreciationAndAmortization $218.00K USD 53 Qtrs
Depreciation DepreciationAndAmortization $20.00K USD 1 Quarter
Depreciation DepreciationAndAmortization $46.00K USD 1 Quarter
Asset retirement obligation AssetRetirementObligationLiabilitiesIncurred - USD 1 Quarter
Asset retirement obligation AssetRetirementObligationLiabilitiesIncurred $435.00K USD 53 Qtrs
Asset retirement obligation AssetRetirementObligationLiabilitiesIncurred - USD 1 Quarter
Fair value of warrants received pursuant to the sale of mineral properties FairValueOfAssetsAcquired - USD 1 Quarter
Fair value of warrants received pursuant to the sale of mineral properties FairValueOfAssetsAcquired - USD 1 Quarter
Fair value of warrants received pursuant to the sale of mineral properties FairValueOfAssetsAcquired $-15.00K USD 53 Qtrs
Unrealized (gain)/loss on derivatives UnrealizedGainLossOnDerivatives $948.00K USD 53 Qtrs
Unrealized (gain)/loss on derivatives UnrealizedGainLossOnDerivatives - USD 1 Quarter
Unrealized (gain)/loss on derivatives UnrealizedGainLossOnDerivatives $-86.00K USD 1 Quarter
Write-down of mineral property GainLossOnDispositionOfProperty - USD 1 Quarter
Write-down of mineral property GainLossOnDispositionOfProperty - USD 1 Quarter
Write-down of mineral property GainLossOnDispositionOfProperty $1.89M USD 53 Qtrs
Loss on currency translation ForeignCurrencyTransactionGainLossRealized $7.00K USD 1 Quarter
Loss on currency translation ForeignCurrencyTransactionGainLossRealized $-26.00K USD 53 Qtrs
Loss on currency translation ForeignCurrencyTransactionGainLossRealized $9.00K USD 1 Quarter
Loss on disposal of marketable securities MarketableSecuritiesGainLoss $-18.00K USD 53 Qtrs
Loss on disposal of marketable securities MarketableSecuritiesGainLoss - USD 1 Quarter
Loss on disposal of marketable securities MarketableSecuritiesGainLoss $-7.00K USD 1 Quarter
Loss on disposal of equipment LossOnDisposalOfEquipment - USD 1 Quarter
Loss on disposal of equipment LossOnDisposalOfEquipment $-3.00K USD 1 Quarter
Loss on disposal of equipment LossOnDisposalOfEquipment $-3.00K USD 53 Qtrs
Stock-based compensation ShareBasedCompensation $984.00K USD 1 Quarter
Stock-based compensation ShareBasedCompensation $3.31M USD 1 Quarter
Stock-based compensation ShareBasedCompensation $20.89M USD 53 Qtrs
Accounts receivable IncreaseDecreaseInAccountsReceivable $-143.00K USD 53 Qtrs
Accounts receivable IncreaseDecreaseInAccountsReceivable $-104.00K USD 1 Quarter
Accounts receivable IncreaseDecreaseInAccountsReceivable $21.00K USD 1 Quarter
Interest receivable IncreaseDecreaseInInterestAndDividendsReceivable $-238.00K USD 53 Qtrs
Interest receivable IncreaseDecreaseInInterestAndDividendsReceivable $-129.00K USD 1 Quarter
Interest receivable IncreaseDecreaseInInterestAndDividendsReceivable $-55.00K USD 1 Quarter
Prepaid expenses IncreaseDecreaseInPrepaidExpense $38.00K USD 1 Quarter
Prepaid expenses IncreaseDecreaseInPrepaidExpense $-214.00K USD 53 Qtrs
Prepaid expenses IncreaseDecreaseInPrepaidExpense $-49.00K USD 1 Quarter
Accounts payable and accrued liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilities $1.75M USD 53 Qtrs
Accounts payable and accrued liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilities $3.00K USD 1 Quarter
Accounts payable and accrued liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilities $-88.00K USD 1 Quarter
Due to related party IncreaseDecreaseInDueToRelatedParties - USD 1 Quarter
Due to related party IncreaseDecreaseInDueToRelatedParties $-31.00K USD 1 Quarter
Due to related party IncreaseDecreaseInDueToRelatedParties $-28.00K USD 53 Qtrs
Net cash and cash equivalents used in operating activities NetCashProvidedByUsedInOperatingActivities $-7.99M USD 1 Quarter
Net cash and cash equivalents used in operating activities NetCashProvidedByUsedInOperatingActivities $-42.14M USD 53 Qtrs
Net cash and cash equivalents used in operating activities NetCashProvidedByUsedInOperatingActivities $-4.90M USD 1 Quarter
Purchases of marketable securities PaymentsToAcquireMarketableSecurities - USD 1 Quarter
Purchases of marketable securities PaymentsToAcquireMarketableSecurities $207.00K USD 53 Qtrs
Purchases of marketable securities PaymentsToAcquireMarketableSecurities - USD 1 Quarter
Purchases of short-term investments PaymentsToAcquireShortTermInvestments - USD 1 Quarter
Purchases of short-term investments PaymentsToAcquireShortTermInvestments $621.00K USD 1 Quarter
Purchases of short-term investments PaymentsToAcquireShortTermInvestments $15.25M USD 53 Qtrs
Additions to mineral properties, net of cost recoveries PaymentsToAcquireMineralRights $29.00K USD 53 Qtrs
Additions to mineral properties, net of cost recoveries PaymentsToAcquireMineralRights - USD 1 Quarter
Additions to mineral properties, net of cost recoveries PaymentsToAcquireMineralRights - USD 1 Quarter
Release of restricted cash IncreaseDecreaseInRestrictedCash $-422.00K USD 1 Quarter
Release of restricted cash IncreaseDecreaseInRestrictedCash - USD 53 Qtrs
Release of restricted cash IncreaseDecreaseInRestrictedCash - USD 1 Quarter
Purchases of equipment PaymentsToAcquireMachineryAndEquipment - USD 1 Quarter
Purchases of equipment PaymentsToAcquireMachineryAndEquipment $208.00K USD 1 Quarter
Purchases of equipment PaymentsToAcquireMachineryAndEquipment $769.00K USD 53 Qtrs
Proceeds from the sale of equipment ProceedsFromSaleOfEquipment $14.00K USD 1 Quarter
Proceeds from the sale of equipment ProceedsFromSaleOfEquipment $14.00K USD 53 Qtrs
Proceeds from the sale of equipment ProceedsFromSaleOfEquipment - USD 1 Quarter
Proceeds from sale of marketable securities ProceedsFromSaleAndMaturityOfMarketableSecurities - USD 1 Quarter
Proceeds from sale of marketable securities ProceedsFromSaleAndMaturityOfMarketableSecurities $36.00K USD 1 Quarter
Proceeds from sale of marketable securities ProceedsFromSaleAndMaturityOfMarketableSecurities $150.00K USD 53 Qtrs
Payments received for sale/option of mineral properties ProceedsFromSaleOfOtherInvestments - USD 1 Quarter
Payments received for sale/option of mineral properties ProceedsFromSaleOfOtherInvestments $279.00K USD 53 Qtrs
Payments received for sale/option of mineral properties ProceedsFromSaleOfOtherInvestments - USD 1 Quarter
Net cash and cash equivalents used in investing activities NetCashProvidedByUsedInInvestingActivities $-149.00K USD 1 Quarter
Net cash and cash equivalents used in investing activities NetCashProvidedByUsedInInvestingActivities $-15.82M USD 53 Qtrs
Net cash and cash equivalents used in investing activities NetCashProvidedByUsedInInvestingActivities $-208.00K USD 1 Quarter
Advance of promissory note ProceedsFromNotesPayable - USD 1 Quarter
Advance of promissory note ProceedsFromNotesPayable - USD 1 Quarter
Advance of promissory note ProceedsFromNotesPayable $111.00K USD 53 Qtrs
Repayment of promissory note RepaymentsOfNotesPayable $129.00K USD 53 Qtrs
Repayment of promissory note RepaymentsOfNotesPayable - USD 1 Quarter
Repayment of promissory note RepaymentsOfNotesPayable - USD 1 Quarter
Cash received for common shares, net of share issuance costs ProceedsFromIssuanceOfCommonStock $55.00K USD 1 Quarter
Cash received for common shares, net of share issuance costs ProceedsFromIssuanceOfCommonStock $94.61M USD 53 Qtrs
Cash received for common shares, net of share issuance costs ProceedsFromIssuanceOfCommonStock $89.00K USD 1 Quarter
Shares subscribed SharesSubscribed - USD 1 Quarter
Shares subscribed SharesSubscribed $4.79M USD 53 Qtrs
Shares subscribed SharesSubscribed - USD 1 Quarter
Net cash and cash equivalents provided by financing activities NetCashProvidedByUsedInFinancingActivities $55.00K USD 1 Quarter
Net cash and cash equivalents provided by financing activities NetCashProvidedByUsedInFinancingActivities $89.81M USD 53 Qtrs
Net cash and cash equivalents provided by financing activities NetCashProvidedByUsedInFinancingActivities $89.00K USD 1 Quarter
Cash acquired in capital transaction ProceedsFromIssuanceOfLongTermDebtAndCapitalSecuritiesNet - USD 1 Quarter
Cash acquired in capital transaction ProceedsFromIssuanceOfLongTermDebtAndCapitalSecuritiesNet - USD 1 Quarter
Cash acquired in capital transaction ProceedsFromIssuanceOfLongTermDebtAndCapitalSecuritiesNet $219.00K USD 53 Qtrs
Increase/(decrease) in cash and cash equivalents CashAndCashEquivalentsPeriodIncreaseDecrease $-8.14M USD 1 Quarter
Increase/(decrease) in cash and cash equivalents CashAndCashEquivalentsPeriodIncreaseDecrease $32.07M USD 53 Qtrs
Increase/(decrease) in cash and cash equivalents CashAndCashEquivalentsPeriodIncreaseDecrease $-4.96M USD 1 Quarter
Cash and cash equivalents - beginning of the period CashAndCashEquivalentsAtCarryingValue $32.07M USD Point-in-time
Cash and cash equivalents - beginning of the period CashAndCashEquivalentsAtCarryingValue $37.03M USD Point-in-time
Cash and cash equivalents - beginning of the period CashAndCashEquivalentsAtCarryingValue - USD Point-in-time
Cash and cash equivalents - beginning of the period CashAndCashEquivalentsAtCarryingValue $64.17M USD Point-in-time
Cash and cash equivalents - beginning 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
Cash and cash equivalents - end of the period CashAndCashEquivalentsAtCarryingValue $32.07M USD Point-in-time
Cash and cash equivalents - end of the period CashAndCashEquivalentsAtCarryingValue $37.03M USD Point-in-time
Cash and cash equivalents - end of the period CashAndCashEquivalentsAtCarryingValue - USD Point-in-time
Cash and cash equivalents - end of the period CashAndCashEquivalentsAtCarryingValue $72.31M USD Point-in-time

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

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