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10-Q Filing

RARE ELEMENT RESOURCES LTD CIK: 1419806 Q1 2014
Filing Information
Form Type 10-Q
Accession Number 0001052918-14-000142
Period End Date 20140331
Filing Date 20140507
Fiscal Year 2014
Fiscal Period Q1
XBRL Instance ree-20140331.xml
Filing Contents

This filing contains the following financial statements:

Balance Sheet 49 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
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $24.98M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $23.90M USD Point-in-time
Common Stock, Shares Outstanding CommonStockSharesOutstanding 47.71M shares Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $19.77M USD Point-in-time
Common Stock, Shares Outstanding CommonStockSharesOutstanding 47.63M shares Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue - USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $23.93M USD Point-in-time
Interest receivable InterestReceivable $4.00K USD Point-in-time
Interest receivable InterestReceivable - USD Point-in-time
Accounts receivable AccountsReceivableNetCurrent $29.00K USD Point-in-time
Accounts receivable AccountsReceivableNetCurrent $20.00K USD Point-in-time
Prepaid expenses PrepaidExpenseCurrent $313.00K USD Point-in-time
Prepaid expenses PrepaidExpenseCurrent $402.00K USD Point-in-time
Total Current Assets AssetsCurrent $24.34M USD Point-in-time
Total Current Assets AssetsCurrent $20.10M USD Point-in-time
Equipment, net PropertyPlantAndEquipmentNet $521.00K USD Point-in-time
Equipment, net PropertyPlantAndEquipmentNet $502.00K USD Point-in-time
Land Land $980.00K USD Point-in-time
Land Land $980.00K 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 $25.86M USD Point-in-time
Total assets Assets $21.61M USD Point-in-time
Accounts payable and accrued liabilities AccountsPayableAndAccruedLiabilitiesCurrent $1.53M USD Point-in-time
Accounts payable and accrued liabilities AccountsPayableAndAccruedLiabilitiesCurrent $1.55M USD Point-in-time
Asset retirement obligation AssetRetirementObligationCurrent $204.00K USD Point-in-time
Asset retirement obligation AssetRetirementObligationCurrent $204.00K USD Point-in-time
Total Current Liabilities LiabilitiesCurrent $1.76M USD Point-in-time
Total Current Liabilities LiabilitiesCurrent $1.73M USD Point-in-time
Asset retirement obligation AssetRetirementObligationsNoncurrent $211.00K USD Point-in-time
Asset retirement obligation AssetRetirementObligationsNoncurrent $211.00K USD Point-in-time
Total liabilities Liabilities $1.97M USD Point-in-time
Total liabilities Liabilities $1.94M 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 March 31, 2014 - 47,707,216, December 31, 2013 - 47,627,245 CommonStockValue $100.65M USD Point-in-time
Common shares, no par value - unlimited shares authorized; shares outstanding March 31, 2014 - 47,707,216, December 31, 2013 - 47,627,245 CommonStockValue $100.51M USD Point-in-time
Additional paid in capital AdditionalPaidInCapital $22.86M USD Point-in-time
Additional paid in capital AdditionalPaidInCapital $22.85M USD Point-in-time
Accumulated deficit during exploration stage RetainedEarningsAccumulatedDeficit $-103.87M USD Point-in-time
Accumulated deficit during exploration stage RetainedEarningsAccumulatedDeficit $-99.44M USD Point-in-time
Total shareholders' equity StockholdersEquity $23.92M USD Point-in-time
Total shareholders' equity StockholdersEquity $19.64M USD Point-in-time
Total liabilities and shareholders' equity LiabilitiesAndStockholdersEquity $21.61M USD Point-in-time
Total liabilities and shareholders' equity LiabilitiesAndStockholdersEquity $25.86M USD Point-in-time
Income Statement 49 line items
Line Item Tag Value Unit Period
Exploration and evaluation ExplorationExpenseMining $-58.03M USD 57 Qtrs
Exploration and evaluation ExplorationExpenseMining $-2.82M USD 1 Quarter
Exploration and evaluation ExplorationExpenseMining $-1.94M USD 1 Quarter
Corporate administration GeneralAndAdministrativeExpense $-1.35M USD 1 Quarter
Corporate administration GeneralAndAdministrativeExpense $-1.69M USD 1 Quarter
Corporate administration GeneralAndAdministrativeExpense $-43.55M USD 57 Qtrs
Depreciation Depreciation $-49.00K USD 1 Quarter
Depreciation Depreciation $-511.00K USD 57 Qtrs
Depreciation Depreciation $-52.00K USD 1 Quarter
Write-down of mineral property ImpairmentOfOngoingProject - USD 1 Quarter
Write-down of mineral property ImpairmentOfOngoingProject $-2.92M USD 57 Qtrs
Write-down of mineral property ImpairmentOfOngoingProject - USD 1 Quarter
Total operating expenses OperatingExpenses $-3.68M USD 1 Quarter
Total operating expenses OperatingExpenses $-4.22M USD 1 Quarter
Total operating expenses OperatingExpenses $-105.01M USD 57 Qtrs
Interest income InterestIncomeOther $97.00K USD 1 Quarter
Interest income InterestIncomeOther $2.24M USD 57 Qtrs
Interest income InterestIncomeOther $29.00K USD 1 Quarter
Gain/(loss) on currency translation ForeignCurrencyTransactionGainLossBeforeTax $-247.00K USD 57 Qtrs
Gain/(loss) on currency translation ForeignCurrencyTransactionGainLossBeforeTax $-346.00K USD 1 Quarter
Gain/(loss) on currency translation ForeignCurrencyTransactionGainLossBeforeTax $-821.00K USD 1 Quarter
Other income/(expense) OtherNonoperatingIncomeExpense $-30.00K USD 57 Qtrs
Other income/(expense) OtherNonoperatingIncomeExpense - USD 1 Quarter
Other income/(expense) OtherNonoperatingIncomeExpense - USD 1 Quarter
Loss on sale of marketable securities MarketableSecuritiesGainLoss $-57.00K USD 57 Qtrs
Loss on sale of marketable securities MarketableSecuritiesGainLoss $-39.00K USD 1 Quarter
Loss on sale of marketable securities MarketableSecuritiesGainLoss - USD 1 Quarter
Gain/(loss) on derivatives DerivativeGainLossOnDerivativeNet $50.00K USD 1 Quarter
Gain/(loss) on derivatives DerivativeGainLossOnDerivativeNet $-764.00K USD 57 Qtrs
Gain/(loss) on derivatives DerivativeGainLossOnDerivativeNet $107.00K USD 1 Quarter
Total non-operating income/(expenses) NonoperatingIncomeExpense $-713.00K USD 1 Quarter
Total non-operating income/(expenses) NonoperatingIncomeExpense $1.14M USD 57 Qtrs
Total non-operating income/(expenses) NonoperatingIncomeExpense $-210.00K USD 1 Quarter
Net loss NetIncomeLoss $-4.43M USD 1 Quarter
Net loss NetIncomeLoss $-4.39M USD 1 Quarter
Net loss NetIncomeLoss $-103.87M USD 57 Qtrs
Realized loss on available-for-sale securities AvailableForSaleSecuritiesGrossRealizedGainLossNet - USD 1 Quarter
Realized loss on available-for-sale securities AvailableForSaleSecuritiesGrossRealizedGainLossNet $39.00K USD 1 Quarter
Realized loss on available-for-sale securities AvailableForSaleSecuritiesGrossRealizedGainLossNet $57.00K USD 57 Qtrs
Unrealized gain/(loss) on available-for-sale securities AvailableforsaleSecuritiesGrossUnrealizedGainLoss1 $4.00K USD 1 Quarter
Unrealized gain/(loss) on available-for-sale securities AvailableforsaleSecuritiesGrossUnrealizedGainLoss1 - USD 1 Quarter
Unrealized gain/(loss) on available-for-sale securities AvailableforsaleSecuritiesGrossUnrealizedGainLoss1 $-57.00K USD 57 Qtrs
COMPREHENSIVE LOSS ComprehensiveIncomeNetOfTax $-103.87M USD 57 Qtrs
COMPREHENSIVE LOSS ComprehensiveIncomeNetOfTax $-4.43M USD 1 Quarter
COMPREHENSIVE LOSS ComprehensiveIncomeNetOfTax $-4.35M USD 1 Quarter
LOSS PER SHARE - BASIC AND DILUTED EarningsPerShareBasicAndDiluted $-0.09 USD 1 Quarter
LOSS PER SHARE - BASIC AND DILUTED EarningsPerShareBasicAndDiluted $-0.10 USD 1 Quarter
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING WeightedAverageNumberOfDilutedSharesOutstanding 47.70M shares 1 Quarter
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING WeightedAverageNumberOfDilutedSharesOutstanding 44.95M shares 1 Quarter
Cash Flow Statement 115 line items
Line Item Tag Value Unit Period
Net loss for the period NetIncomeLoss $-4.43M USD 1 Quarter
Net loss for the period NetIncomeLoss $-4.39M USD 1 Quarter
Net loss for the period NetIncomeLoss $-103.87M USD 57 Qtrs
Depreciation Depreciation $-49.00K USD 1 Quarter
Depreciation Depreciation $-511.00K USD 57 Qtrs
Depreciation Depreciation $-52.00K USD 1 Quarter
Asset retirement obligation AssetRetirementObligationAccretionExpense - USD 1 Quarter
Asset retirement obligation AssetRetirementObligationAccretionExpense $38.00K USD 1 Quarter
Asset retirement obligation AssetRetirementObligationAccretionExpense $415.00K USD 57 Qtrs
Fair value of warrants received pursuant to the sale of mineral properties FairValueAdjustmentOfWarrants - USD 1 Quarter
Fair value of warrants received pursuant to the sale of mineral properties FairValueAdjustmentOfWarrants $-15.00K USD 57 Qtrs
Fair value of warrants received pursuant to the sale of mineral properties FairValueAdjustmentOfWarrants - USD 1 Quarter
Realized gain on derivatives DerivativeGainOnDerivative $5.00K USD 1 Quarter
Realized gain on derivatives DerivativeGainOnDerivative - USD 1 Quarter
Realized gain on derivatives DerivativeGainOnDerivative $155.00K USD 57 Qtrs
Unrealized (gain)/loss on derivatives UnrealizedGainLossOnDerivatives $50.00K USD 1 Quarter
Unrealized (gain)/loss on derivatives UnrealizedGainLossOnDerivatives $-918.00K USD 57 Qtrs
Unrealized (gain)/loss on derivatives UnrealizedGainLossOnDerivatives $103.00K 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 57 Qtrs
Gain on currency translation ForeignCurrencyTransactionGainLossRealized $-17.00K USD 57 Qtrs
Gain on currency translation ForeignCurrencyTransactionGainLossRealized - USD 1 Quarter
Gain on currency translation ForeignCurrencyTransactionGainLossRealized - USD 1 Quarter
Loss on disposal of marketable securities GainLossOnSaleOfOtherAssets - USD 1 Quarter
Loss on disposal of marketable securities GainLossOnSaleOfOtherAssets $-39.00K USD 1 Quarter
Loss on disposal of marketable securities GainLossOnSaleOfOtherAssets $-57.00K USD 57 Qtrs
Gain on disposal of equipment GainLossOnDispositionOfAssets - USD 1 Quarter
Gain on disposal of equipment GainLossOnDispositionOfAssets $-3.00K USD 57 Qtrs
Gain on disposal of equipment GainLossOnDispositionOfAssets - USD 1 Quarter
Stock-based compensation ShareBasedCompensation $188.00K USD 1 Quarter
Stock-based compensation ShareBasedCompensation $23.11M USD 57 Qtrs
Stock-based compensation ShareBasedCompensation $575.00K USD 1 Quarter
Accounts receivable IncreaseDecreaseInAccountsReceivable $-161.00K USD 57 Qtrs
Accounts receivable IncreaseDecreaseInAccountsReceivable $-41.00K USD 1 Quarter
Accounts receivable IncreaseDecreaseInAccountsReceivable $9.00K USD 1 Quarter
Interest receivable IncreaseDecreaseInInterestAndDividendsReceivable $-8.00K USD 57 Qtrs
Interest receivable IncreaseDecreaseInInterestAndDividendsReceivable $302.00K USD 1 Quarter
Interest receivable IncreaseDecreaseInInterestAndDividendsReceivable $4.00K USD 1 Quarter
Prepaid expenses IncreaseDecreaseInPrepaidExpense $-325.00K USD 57 Qtrs
Prepaid expenses IncreaseDecreaseInPrepaidExpense $6.00K USD 1 Quarter
Prepaid expenses IncreaseDecreaseInPrepaidExpense $89.00K USD 1 Quarter
Accounts payable and accrued liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilities $-2.79M USD 1 Quarter
Accounts payable and accrued liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilities $1.52M USD 57 Qtrs
Accounts payable and accrued liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilities $135.00K USD 1 Quarter
Due to related party IncreaseDecreaseInDueToRelatedParties $-28.00K USD 57 Qtrs
Due to related party IncreaseDecreaseInDueToRelatedParties - USD 1 Quarter
Due to related party IncreaseDecreaseInDueToRelatedParties - USD 1 Quarter
Net cash and cash equivalents used in operating activities NetCashProvidedByUsedInOperatingActivities $-76.16M USD 57 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 $-4.06M USD 1 Quarter
Purchases of marketable securities PaymentsToAcquireMarketableSecurities - USD 1 Quarter
Purchases of marketable securities PaymentsToAcquireMarketableSecurities - USD 1 Quarter
Purchases of marketable securities PaymentsToAcquireMarketableSecurities $207.00K USD 57 Qtrs
Purchases of short-term investments PaymentsToAcquireShortTermInvestments - USD 1 Quarter
Purchases of short-term investments PaymentsToAcquireShortTermInvestments $24.94M USD 57 Qtrs
Purchases of short-term investments PaymentsToAcquireShortTermInvestments $9.82M USD 1 Quarter
Additions to mineral properties, net of cost recoveries PaymentsToAcquireMineralRights - USD 1 Quarter
Additions to mineral properties, net of cost recoveries PaymentsToAcquireMineralRights $29.00K USD 57 Qtrs
Additions to mineral properties, net of cost recoveries PaymentsToAcquireMineralRights - USD 1 Quarter
Additions to restricted cash IncreaseDecreaseInRestrictedCash $422.00K USD 57 Qtrs
Additions to restricted cash IncreaseDecreaseInRestrictedCash - USD 1 Quarter
Additions to restricted cash IncreaseDecreaseInRestrictedCash - USD 1 Quarter
Release of restricted cash DecreaseInRestrictedCash $422.00K USD 57 Qtrs
Release of restricted cash DecreaseInRestrictedCash - USD 1 Quarter
Release of restricted cash DecreaseInRestrictedCash - USD 1 Quarter
Purchases of equipment PaymentsToAcquireMachineryAndEquipment $1.01M USD 57 Qtrs
Purchases of equipment PaymentsToAcquireMachineryAndEquipment $33.00K USD 1 Quarter
Purchases of equipment PaymentsToAcquireMachineryAndEquipment $90.00K USD 1 Quarter
Purchases of Land PaymentsToAcquireLand - USD 1 Quarter
Purchases of Land PaymentsToAcquireLand - USD 1 Quarter
Purchases of Land PaymentsToAcquireLand $980.00K USD 57 Qtrs
Proceeds from sale of marketable securities ProceedsFromSaleAndMaturityOfMarketableSecurities - USD 1 Quarter
Proceeds from sale of marketable securities ProceedsFromSaleAndMaturityOfMarketableSecurities $186.00K USD 57 Qtrs
Proceeds from sale of marketable securities ProceedsFromSaleAndMaturityOfMarketableSecurities $36.00K USD 1 Quarter
Proceeds from sale of short-term investments ProceedsFromSaleOfShortTermInvestments - USD 1 Quarter
Proceeds from sale of short-term investments ProceedsFromSaleOfShortTermInvestments $15.09M USD 1 Quarter
Proceeds from sale of short-term investments ProceedsFromSaleOfShortTermInvestments $24.94M USD 57 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 57 Qtrs
Payments received for sale/option of mineral properties ProceedsFromSaleOfOtherInvestments - USD 1 Quarter
Net cash and cash equivalents provided by (used in) investing activities NetCashProvidedByUsedInInvestingActivities $-1.76M USD 57 Qtrs
Net cash and cash equivalents provided by (used in) investing activities NetCashProvidedByUsedInInvestingActivities $5.21M USD 1 Quarter
Net cash and cash equivalents provided by (used in) investing activities NetCashProvidedByUsedInInvestingActivities $-33.00K USD 1 Quarter
Advance of promissory note ProceedsFromNotesPayable - USD 1 Quarter
Advance of promissory note ProceedsFromNotesPayable $111.00K USD 57 Qtrs
Advance of promissory note ProceedsFromNotesPayable - USD 1 Quarter
Repayment of promissory note RepaymentsOfNotesPayable $129.00K USD 57 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 $-42.00K 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 $102.27M USD 57 Qtrs
Shares subscribed SharesSubscribed $4.79M USD 57 Qtrs
Shares subscribed SharesSubscribed - USD 1 Quarter
Shares subscribed SharesSubscribed - 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 $97.47M USD 57 Qtrs
Net cash and cash equivalents provided by financing activities NetCashProvidedByUsedInFinancingActivities $-42.00K USD 1 Quarter
Cash acquired in capital transaction ProceedsFromIssuanceOfLongTermDebtAndCapitalSecuritiesNet - USD 1 Quarter
Cash acquired in capital transaction ProceedsFromIssuanceOfLongTermDebtAndCapitalSecuritiesNet $219.00K USD 57 Qtrs
Cash acquired in capital transaction ProceedsFromIssuanceOfLongTermDebtAndCapitalSecuritiesNet - USD 1 Quarter
Increase/(decrease) in cash and cash equivalents CashAndCashEquivalentsPeriodIncreaseDecrease $-4.14M USD 1 Quarter
Increase/(decrease) in cash and cash equivalents CashAndCashEquivalentsPeriodIncreaseDecrease $19.77M USD 57 Qtrs
Increase/(decrease) in cash and cash equivalents CashAndCashEquivalentsPeriodIncreaseDecrease $-1.05M USD 1 Quarter
Cash and cash equivalents - beginning of the period CashAndCashEquivalentsAtCarryingValue - USD Point-in-time
Cash and cash equivalents - beginning of the period CashAndCashEquivalentsAtCarryingValue $19.77M 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 $24.98M USD Point-in-time
Cash and cash equivalents - beginning of the period CashAndCashEquivalentsAtCarryingValue $23.90M USD Point-in-time
Cash and cash equivalents - end of the period CashAndCashEquivalentsAtCarryingValue $19.77M 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 $24.98M USD Point-in-time
Cash and cash equivalents - end of the period CashAndCashEquivalentsAtCarryingValue $23.90M 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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