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10-Q Filing

RARE ELEMENT RESOURCES LTD CIK: 1419806 Q1 2013
Filing Information
Form Type 10-Q
Accession Number 0001052918-13-000168
Period End Date 20130331
Filing Date 20130507
Fiscal Year 2013
Fiscal Period Q1
XBRL Instance ree-20130331.xml
Filing Contents

This filing contains the following financial statements:

Balance Sheet 50 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 44.95M shares Point-in-time
Common Stock, Shares Issued CommonStockSharesIssued 44.95M shares Point-in-time
Cash and cash equivalents Cash $23.93M USD Point-in-time
Cash and cash equivalents Cash $24.98M USD Point-in-time
Short-term investments ShortTermInvestments $9.85M USD Point-in-time
Common Stock, Shares Outstanding CommonStockSharesOutstanding 44.95M shares Point-in-time
Common Stock, Shares Outstanding CommonStockSharesOutstanding 44.95M shares Point-in-time
Short-term investments ShortTermInvestments $15.12M USD Point-in-time
Interest receivable InterestReceivable $1.00K USD Point-in-time
Interest receivable InterestReceivable $303.00K USD Point-in-time
Prepaid expenses PrepaidExpenseCurrent $185.00K USD Point-in-time
Prepaid expenses PrepaidExpenseCurrent $179.00K USD Point-in-time
Marketable securities MarketableSecuritiesCurrent - USD Point-in-time
Marketable securities MarketableSecuritiesCurrent $32.00K USD Point-in-time
Accounts receivable AccountsReceivableNetCurrent $58.00K USD Point-in-time
Accounts receivable AccountsReceivableNetCurrent $17.00K USD Point-in-time
Total Current Assets AssetsCurrent $34.02M USD Point-in-time
Total Current Assets AssetsCurrent $40.64M USD Point-in-time
Equipment PropertyPlantAndEquipmentNet $558.00K USD Point-in-time
Equipment PropertyPlantAndEquipmentNet $517.00K USD Point-in-time
Mineral properties MineralPropertiesNet $27.00K USD Point-in-time
Mineral properties MineralPropertiesNet $27.00K USD Point-in-time
Total assets Assets $41.18M USD Point-in-time
Total assets Assets $34.61M USD Point-in-time
Accounts payable and accrued liabilities AccountsPayableAndAccruedLiabilitiesCurrent $610.00K USD Point-in-time
Accounts payable and accrued liabilities AccountsPayableAndAccruedLiabilitiesCurrent $3.45M USD Point-in-time
Asset retirement obligation AssetRetirementObligationCurrent $177.00K USD Point-in-time
Asset retirement obligation AssetRetirementObligationCurrent $151.00K USD Point-in-time
Total Current Liabilities LiabilitiesCurrent $787.00K USD Point-in-time
Total Current Liabilities LiabilitiesCurrent $3.60M USD Point-in-time
Asset retirement obligation AssetRetirementObligationsNoncurrent $238.00K USD Point-in-time
Asset retirement obligation AssetRetirementObligationsNoncurrent $250.00K USD Point-in-time
Total liabilities Liabilities $3.84M USD Point-in-time
Total liabilities Liabilities $1.04M USD Point-in-time
Common shares, no par value - unlimited shares authorized; shares outstanding March 31, 2013 - 44,949,869, December 31, 2012 - 44,949,869 CommonStockValue $93.26M USD Point-in-time
Common shares, no par value - unlimited shares authorized; shares outstanding March 31, 2013 - 44,949,869, December 31, 2012 - 44,949,869 CommonStockValue $93.26M USD Point-in-time
Additional paid in capital AdditionalPaidInCapital $21.90M USD Point-in-time
Additional paid in capital AdditionalPaidInCapital $21.33M USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-43.00K USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax - USD Point-in-time
Accumulated deficit during exploration stage RetainedEarningsAccumulatedDeficit $-81.59M USD Point-in-time
Accumulated deficit during exploration stage RetainedEarningsAccumulatedDeficit $-77.19M USD Point-in-time
Total shareholders' equity StockholdersEquity $33.57M USD Point-in-time
Total shareholders' equity StockholdersEquity $37.35M USD Point-in-time
Total liabilities and shareholders' equity LiabilitiesAndStockholdersEquity $41.18M USD Point-in-time
Total liabilities and shareholders' equity LiabilitiesAndStockholdersEquity $34.61M USD Point-in-time
Income Statement 49 line items
Line Item Tag Value Unit Period
Exploration and evaluation ExplorationExpenseMining $-2.60M USD 1 Quarter
Exploration and evaluation ExplorationExpenseMining $-1.94M USD 1 Quarter
Exploration and evaluation ExplorationExpenseMining $-43.02M USD 54 Qtrs
Corporate administration GeneralAndAdministrativeExpense $-1.69M USD 1 Quarter
Corporate administration GeneralAndAdministrativeExpense $-4.10M USD 1 Quarter
Corporate administration GeneralAndAdministrativeExpense $-37.28M USD 54 Qtrs
Depreciation Depreciation $-22.00K USD 1 Quarter
Depreciation Depreciation $-311.00K USD 54 Qtrs
Depreciation Depreciation $-49.00K USD 1 Quarter
Write-down of mineral property ImpairmentOfOngoingProject - USD 1 Quarter
Write-down of mineral property ImpairmentOfOngoingProject - USD 1 Quarter
Write-down of mineral property ImpairmentOfOngoingProject $-2.92M USD 54 Qtrs
Total operating expenses OperatingExpenses $-6.72M USD 1 Quarter
Total operating expenses OperatingExpenses $-3.68M USD 1 Quarter
Total operating expenses OperatingExpenses $-83.53M USD 54 Qtrs
Interest income InvestmentIncomeInterest $151.00K USD 1 Quarter
Interest income InvestmentIncomeInterest $97.00K USD 1 Quarter
Interest income InvestmentIncomeInterest $2.07M USD 54 Qtrs
Gain/(loss) on currency translation ForeignCurrencyTransactionGainLossBeforeTax $809.00K USD 54 Qtrs
Gain/(loss) on currency translation ForeignCurrencyTransactionGainLossBeforeTax $1.45M USD 1 Quarter
Gain/(loss) on currency translation ForeignCurrencyTransactionGainLossBeforeTax $-821.00K USD 1 Quarter
Other income/(expense) OtherNonoperatingIncomeExpense $-32.00K USD 1 Quarter
Other income/(expense) OtherNonoperatingIncomeExpense - USD 1 Quarter
Other income/(expense) OtherNonoperatingIncomeExpense $20.00K USD 54 Qtrs
Loss on sale of marketable securities MarketableSecuritiesGainLoss $-39.00K USD 1 Quarter
Loss on sale of marketable securities MarketableSecuritiesGainLoss $-2.00K USD 1 Quarter
Loss on sale of marketable securities MarketableSecuritiesGainLoss $-57.00K USD 54 Qtrs
Gain/(loss) on derivatives UnrealizedGainLossOnDerivatives $50.00K USD 1 Quarter
Gain/(loss) on derivatives UnrealizedGainLossOnDerivatives $-902.00K USD 54 Qtrs
Gain/(loss) on derivatives UnrealizedGainLossOnDerivatives $-161.00K USD 1 Quarter
Total non-operating income NonoperatingIncomeExpense $1.94M USD 54 Qtrs
Total non-operating income NonoperatingIncomeExpense $1.41M USD 1 Quarter
Total non-operating income NonoperatingIncomeExpense $-713.00K USD 1 Quarter
Net loss NetIncomeLoss $-5.32M USD 1 Quarter
Net loss NetIncomeLoss $-4.39M USD 1 Quarter
Net loss NetIncomeLoss $-81.59M USD 54 Qtrs
Realized loss on available-for-sale securities AvailableForSaleSecuritiesGrossRealizedGainLossNet $2.00K USD 1 Quarter
Realized loss on available-for-sale securities AvailableForSaleSecuritiesGrossRealizedGainLossNet $57.00K USD 54 Qtrs
Realized loss on available-for-sale securities AvailableForSaleSecuritiesGrossRealizedGainLossNet $39.00K 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 $2.00K USD 1 Quarter
Unrealized gain/(loss) on available-for-sale securities AvailableForSaleSecuritiesChangeInNetUnrealizedHoldingGainLossNetOfTax $-57.00K USD 54 Qtrs
COMPREHENSIVE LOSS ComprehensiveIncomeNetOfTax $-5.31M USD 1 Quarter
COMPREHENSIVE LOSS ComprehensiveIncomeNetOfTax $-4.35M USD 1 Quarter
COMPREHENSIVE LOSS ComprehensiveIncomeNetOfTax $-81.59M USD 54 Qtrs
LOSS PER SHARE - BASIC AND DILUTED EarningsPerShareBasicAndDiluted $-0.10 USD 1 Quarter
LOSS PER SHARE - BASIC AND DILUTED EarningsPerShareBasicAndDiluted $-0.12 USD 1 Quarter
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING WeightedAverageNumberOfShareOutstandingBasicAndDiluted 44.22M shares 1 Quarter
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING WeightedAverageNumberOfShareOutstandingBasicAndDiluted 44.95M shares 1 Quarter
Cash Flow Statement 109 line items
Line Item Tag Value Unit Period
Net loss for the period NetIncomeLoss $-5.32M USD 1 Quarter
Net loss for the period NetIncomeLoss $-4.39M USD 1 Quarter
Net loss for the period NetIncomeLoss $-81.59M USD 54 Qtrs
Depreciation DepreciationAmortizationAndAccretionNet $311.00K USD 54 Qtrs
Depreciation DepreciationAmortizationAndAccretionNet $49.00K USD 1 Quarter
Depreciation DepreciationAmortizationAndAccretionNet $23.00K USD 1 Quarter
Asset retirement obligation AssetRetirementObligationAccretionExpense $427.00K USD 54 Qtrs
Asset retirement obligation AssetRetirementObligationAccretionExpense $38.00K USD 1 Quarter
Asset retirement obligation AssetRetirementObligationAccretionExpense - 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 54 Qtrs
Fair value of warrants received pursuant to the sale of mineral properties FairValueOfAssetsAcquired - USD 1 Quarter
Unrealized (gain)/loss on derivatives UnrealizedGainLossOnDerivatives $-161.00K USD 1 Quarter
Unrealized (gain)/loss on derivatives UnrealizedGainLossOnDerivatives $-902.00K USD 54 Qtrs
Unrealized (gain)/loss on derivatives UnrealizedGainLossOnDerivatives $50.00K USD 1 Quarter
Write-down of mineral property ImpairmentofOngoingProject1 - USD 1 Quarter
Write-down of mineral property ImpairmentofOngoingProject1 - USD 1 Quarter
Write-down of mineral property ImpairmentofOngoingProject1 $1.89M USD 54 Qtrs
Loss on currency translation ForeignCurrencyTransactionGainLossRealized $-17.00K USD 54 Qtrs
Loss on currency translation ForeignCurrencyTransactionGainLossRealized $-48.00K USD 1 Quarter
Loss on currency translation ForeignCurrencyTransactionGainLossRealized - USD 1 Quarter
Loss on disposal of marketable securities MarketableSecuritiesGainLoss $-2.00K USD 1 Quarter
Loss on disposal of marketable securities MarketableSecuritiesGainLoss $-57.00K USD 54 Qtrs
Loss on disposal of marketable securities MarketableSecuritiesGainLoss $-39.00K USD 1 Quarter
Loss on disposal of equipment GainLossOnDispositionOfProperty $3.00K USD 54 Qtrs
Loss on disposal of equipment GainLossOnDispositionOfProperty - USD 1 Quarter
Loss on disposal of equipment GainLossOnDispositionOfProperty - USD 1 Quarter
Stock-based compensation ShareBasedCompensation $2.83M USD 1 Quarter
Stock-based compensation ShareBasedCompensation $22.12M USD 54 Qtrs
Stock-based compensation ShareBasedCompensation $575.00K USD 1 Quarter
Accounts receivable IncreaseDecreaseInAccountsReceivable $-229.00K USD 1 Quarter
Accounts receivable IncreaseDecreaseInAccountsReceivable $-41.00K USD 1 Quarter
Accounts receivable IncreaseDecreaseInAccountsReceivable $-199.00K USD 54 Qtrs
Interest receivable IncreaseDecreaseInInterestAndDividendsReceivable $397.00K USD 1 Quarter
Interest receivable IncreaseDecreaseInInterestAndDividendsReceivable $302.00K USD 1 Quarter
Interest receivable IncreaseDecreaseInInterestAndDividendsReceivable $-9.00K USD 54 Qtrs
Prepaid expenses IncreaseDecreaseInPrepaidExpense $6.00K USD 1 Quarter
Prepaid expenses IncreaseDecreaseInPrepaidExpense $-191.00K USD 54 Qtrs
Prepaid expenses IncreaseDecreaseInPrepaidExpense $239.00K USD 1 Quarter
Accounts payable and accrued liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilities $-2.79M USD 1 Quarter
Accounts payable and accrued liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilities $436.00K USD 54 Qtrs
Accounts payable and accrued liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilities $-1.59M USD 1 Quarter
Due to related party IncreaseDecreaseInDueToRelatedParties $-28.00K USD 1 Quarter
Due to related party IncreaseDecreaseInDueToRelatedParties - USD 1 Quarter
Due to related party IncreaseDecreaseInDueToRelatedParties $-28.00K USD 54 Qtrs
Net cash and cash equivalents used in operating activities NetCashProvidedByUsedInOperatingActivities $-6.26M USD 1 Quarter
Net cash and cash equivalents used in operating activities NetCashProvidedByUsedInOperatingActivities $-55.90M USD 54 Qtrs
Net cash and cash equivalents used in operating activities NetCashProvidedByUsedInOperatingActivities $-3.56M USD 1 Quarter
Purchases of marketable securities PaymentsToAcquireMarketableSecurities - USD 1 Quarter
Purchases of marketable securities PaymentsToAcquireMarketableSecurities $207.00K USD 54 Qtrs
Purchases of marketable securities PaymentsToAcquireMarketableSecurities - USD 1 Quarter
Purchases of short-term investments PaymentsToAcquireShortTermInvestments $9.82M USD 1 Quarter
Purchases of short-term investments PaymentsToAcquireShortTermInvestments $20.05M USD 1 Quarter
Purchases of short-term investments PaymentsToAcquireShortTermInvestments $24.94M USD 54 Qtrs
Additions to mineral properties, net of cost recoveries PaymentsToAcquireMineralRights - USD 1 Quarter
Additions to mineral properties, net of cost recoveries PaymentsToAcquireMineralRights $29.00K USD 54 Qtrs
Additions to mineral properties, net of cost recoveries PaymentsToAcquireMineralRights - USD 1 Quarter
Additions to restricted cash AdditionsToRestrictedCash $-422.00K USD 54 Qtrs
Additions to restricted cash AdditionsToRestrictedCash - USD 1 Quarter
Additions to restricted cash AdditionsToRestrictedCash - USD 1 Quarter
Release of restricted cash IncreaseDecreaseInRestrictedCash $-422.00K USD 54 Qtrs
Release of restricted cash IncreaseDecreaseInRestrictedCash - USD 1 Quarter
Release of restricted cash IncreaseDecreaseInRestrictedCash - USD 1 Quarter
Purchases of equipment PaymentsToAcquireMachineryAndEquipment $870.00K USD 54 Qtrs
Purchases of equipment PaymentsToAcquireMachineryAndEquipment $90.00K USD 1 Quarter
Purchases of equipment PaymentsToAcquireMachineryAndEquipment $82.00K USD 1 Quarter
Proceeds from sale of marketable securities ProceedsFromSaleAndMaturityOfMarketableSecurities $40.00K USD 1 Quarter
Proceeds from sale of marketable securities ProceedsFromSaleAndMaturityOfMarketableSecurities $36.00K USD 1 Quarter
Proceeds from sale of marketable securities ProceedsFromSaleAndMaturityOfMarketableSecurities $186.00K USD 54 Qtrs
Proceeds from sale of short-term investments ProceedsFromSaleOfShortTermInvestments $15.09M USD 54 Qtrs
Proceeds from sale of short-term investments ProceedsFromSaleOfShortTermInvestments - USD 1 Quarter
Proceeds from sale of short-term investments ProceedsFromSaleOfShortTermInvestments $15.09M USD 1 Quarter
Payments received for sale/option of mineral properties ProceedsFromSaleOfOtherInvestments - USD 1 Quarter
Payments received for sale/option of mineral properties ProceedsFromSaleOfOtherInvestments $279.00K USD 54 Qtrs
Payments received for sale/option of mineral properties ProceedsFromSaleOfOtherInvestments - USD 1 Quarter
Net cash and cash equivalents used in investing activities NetCashProvidedByUsedInInvestingActivities $5.21M USD 1 Quarter
Net cash and cash equivalents used in investing activities NetCashProvidedByUsedInInvestingActivities $-20.10M USD 1 Quarter
Net cash and cash equivalents used in investing activities NetCashProvidedByUsedInInvestingActivities $-10.49M USD 54 Qtrs
Advance of promissory note ProceedsFromNotesPayable $111.00K USD 54 Qtrs
Advance of promissory note ProceedsFromNotesPayable - USD 1 Quarter
Advance of promissory note ProceedsFromNotesPayable - USD 1 Quarter
Repayment of promissory note RepaymentsOfNotesPayable - USD 1 Quarter
Repayment of promissory note RepaymentsOfNotesPayable $129.00K USD 54 Qtrs
Repayment of promissory note RepaymentsOfNotesPayable - USD 1 Quarter
Cash received for common shares, net of share issuance costs ProceedsFromIssuanceOfCommonStock $160.00K USD 1 Quarter
Cash received for common shares, net of share issuance costs ProceedsFromIssuanceOfCommonStock - USD 1 Quarter
Cash received for common shares, net of share issuance costs ProceedsFromIssuanceOfCommonStock $94.92M USD 54 Qtrs
Shares subscribed SharesSubscribed $4.79M USD 54 Qtrs
Shares subscribed SharesSubscribed - USD 1 Quarter
Shares subscribed SharesSubscribed - USD 1 Quarter
Net cash and cash equivalents provided by financing activities NetCashProvidedByUsedInFinancingActivities $160.00K USD 1 Quarter
Net cash and cash equivalents provided by financing activities NetCashProvidedByUsedInFinancingActivities - USD 1 Quarter
Net cash and cash equivalents provided by financing activities NetCashProvidedByUsedInFinancingActivities $90.11M USD 54 Qtrs
Cash acquired in capital transaction ProceedsFromIssuanceOfLongTermDebtAndCapitalSecuritiesNet - USD 1 Quarter
Cash acquired in capital transaction ProceedsFromIssuanceOfLongTermDebtAndCapitalSecuritiesNet $219.00K USD 54 Qtrs
Cash acquired in capital transaction ProceedsFromIssuanceOfLongTermDebtAndCapitalSecuritiesNet - USD 1 Quarter
Increase/(decrease) in cash and cash equivalents CashAndCashEquivalentsPeriodIncreaseDecrease $-23.50M USD 1 Quarter
Increase/(decrease) in cash and cash equivalents CashAndCashEquivalentsPeriodIncreaseDecrease $23.93M USD 54 Qtrs
Increase/(decrease) in cash and cash equivalents CashAndCashEquivalentsPeriodIncreaseDecrease $-1.05M USD 1 Quarter
Cash and cash equivalents - beginning of the period CashAndCashEquivalentsAtCarryingValue $24.98M USD Point-in-time
Cash and cash equivalents - beginning of the period CashAndCashEquivalentsAtCarryingValue $35.98M USD Point-in-time
Cash and cash equivalents - beginning of the period CashAndCashEquivalentsAtCarryingValue $23.93M 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 $59.48M USD Point-in-time
Cash and cash equivalents - end of the period CashAndCashEquivalentsAtCarryingValue $35.98M USD Point-in-time
Cash and cash equivalents - end of the period CashAndCashEquivalentsAtCarryingValue $24.98M 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 $59.48M USD Point-in-time
Cash and cash equivalents - end of the period CashAndCashEquivalentsAtCarryingValue $23.93M USD Point-in-time

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

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