10-Q Filing

RARE ELEMENT RESOURCES LTD CIK: 1419806 Q3 2015

Filing Information

Form Type	10-Q
Accession Number	`0001052918-15-000581`
Period End Date	20150930
Filing Date	20151106
Fiscal Year	2015
Fiscal Period	Q3
XBRL Instance	ree-20150930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 48 Income Statement 60 Cash Flow Statement 46

Balance Sheet 48 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`	0.00	shares	Point-in-time
Common Stock, Shares Authorized	`CommonStockSharesAuthorized`	0.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$10.14M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$12.89M	USD	Point-in-time
Common Stock, Shares Outstanding	`CommonStockSharesOutstanding`	52.94M	shares	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`	$6.16M	USD	Point-in-time
Interest receivable	`InterestReceivable`	$26.00K	USD	Point-in-time
Interest receivable	`InterestReceivable`	$6.00K	USD	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$21.00K	USD	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$16.00K	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$210.00K	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$315.00K	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$10.48M	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$6.42M	USD	Point-in-time
Equipment, net	`PropertyPlantAndEquipmentNet`	$245.00K	USD	Point-in-time
Equipment, net	`PropertyPlantAndEquipmentNet`	$344.00K	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`	$11.83M	USD	Point-in-time
Total assets	`Assets`	$7.67M	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$815.00K	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$1.10M	USD	Point-in-time
Asset retirement obligation, current portion	`AssetRetirementObligationCurrent`	$151.00K	USD	Point-in-time
Asset retirement obligation, current portion	`AssetRetirementObligationCurrent`	$164.00K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$966.00K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$1.26M	USD	Point-in-time
Asset retirement obligation, non-current portion	`AssetRetirementObligationsNoncurrent`	$199.00K	USD	Point-in-time
Asset retirement obligation, non-current portion	`AssetRetirementObligationsNoncurrent`	$202.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$1.17M	USD	Point-in-time
Total liabilities	`Liabilities`	$1.46M	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, 2015 - 52,941,880, December 31, 2014 - 47,707,216	`CommonStockValue`	$103.64M	USD	Point-in-time
Common shares, no par value - unlimited shares authorized; shares outstanding September 30, 2015 - 52,941,880, December 31, 2014 - 47,707,216	`CommonStockValue`	$100.65M	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapital`	$23.19M	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapital`	$23.48M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-120.61M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-113.47M	USD	Point-in-time
Total Shareholders' Equity	`StockholdersEquity`	$10.37M	USD	Point-in-time
Total Shareholders' Equity	`StockholdersEquity`	$6.50M	USD	Point-in-time
Total Liabilities and Shareholders' Equity	`LiabilitiesAndStockholdersEquity`	$7.67M	USD	Point-in-time
Total Liabilities and Shareholders' Equity	`LiabilitiesAndStockholdersEquity`	$11.83M	USD	Point-in-time

Income Statement 60 line items

Line Item	Tag	Value	Unit	Period
Exploration and evaluation	`ExplorationExpenseMining`	$2.31M	USD	1 Quarter
Exploration and evaluation	`ExplorationExpenseMining`	$7.16M	USD	3 Qtrs
Exploration and evaluation	`ExplorationExpenseMining`	$1.52M	USD	1 Quarter
Exploration and evaluation	`ExplorationExpenseMining`	$3.83M	USD	3 Qtrs
Corporate administration	`GeneralAndAdministrativeExpense`	$2.78M	USD	3 Qtrs
Corporate administration	`GeneralAndAdministrativeExpense`	$850.00K	USD	1 Quarter
Corporate administration	`GeneralAndAdministrativeExpense`	$1.04M	USD	1 Quarter
Corporate administration	`GeneralAndAdministrativeExpense`	$3.58M	USD	3 Qtrs
Depreciation	`Depreciation`	$99.00K	USD	3 Qtrs
Depreciation	`Depreciation`	$60.00K	USD	1 Quarter
Depreciation	`Depreciation`	$24.00K	USD	1 Quarter
Depreciation	`Depreciation`	$163.00K	USD	3 Qtrs
Total operating expenses	`OperatingExpenses`	$10.91M	USD	3 Qtrs
Total operating expenses	`OperatingExpenses`	$3.40M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$2.39M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$6.71M	USD	3 Qtrs
Interest income	`InterestIncomeOther`	$14.00K	USD	1 Quarter
Interest income	`InterestIncomeOther`	$65.00K	USD	3 Qtrs
Interest income	`InterestIncomeOther`	$8.00K	USD	1 Quarter
Interest income	`InterestIncomeOther`	$26.00K	USD	3 Qtrs
Loss on currency translation	`ForeignCurrencyTransactionGainLossBeforeTax`	$-361.00K	USD	3 Qtrs
Loss on currency translation	`ForeignCurrencyTransactionGainLossBeforeTax`	$-458.00K	USD	3 Qtrs
Loss on currency translation	`ForeignCurrencyTransactionGainLossBeforeTax`	$-212.00K	USD	1 Quarter
Loss on currency translation	`ForeignCurrencyTransactionGainLossBeforeTax`	$-189.00K	USD	1 Quarter
Gain on derivatives	`GainLossOnSaleOfDerivatives`	-	USD	3 Qtrs
Gain on derivatives	`GainLossOnSaleOfDerivatives`	$116.00K	USD	3 Qtrs
Gain on derivatives	`GainLossOnSaleOfDerivatives`	-	USD	1 Quarter
Gain on derivatives	`GainLossOnSaleOfDerivatives`	-	USD	1 Quarter
Total non-operating income (expense)	`NonoperatingIncomeExpense`	$-181.00K	USD	1 Quarter
Total non-operating income (expense)	`NonoperatingIncomeExpense`	$-198.00K	USD	1 Quarter
Total non-operating income (expense)	`NonoperatingIncomeExpense`	$-180.00K	USD	3 Qtrs
Total non-operating income (expense)	`NonoperatingIncomeExpense`	$-432.00K	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-3.60M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-11.09M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-7.14M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-2.57M	USD	1 Quarter
Realized loss on available-for-sale securities	`AvailableForSaleSecuritiesGrossRealizedGainLossNet`	-	USD	3 Qtrs
Realized loss on available-for-sale securities	`AvailableForSaleSecuritiesGrossRealizedGainLossNet`	-	USD	1 Quarter
Realized loss on available-for-sale securities	`AvailableForSaleSecuritiesGrossRealizedGainLossNet`	-	USD	1 Quarter
Realized loss on available-for-sale securities	`AvailableForSaleSecuritiesGrossRealizedGainLossNet`	-	USD	3 Qtrs
Unrealized (gain)/loss on available-for-sale securities	`AvailableforsaleSecuritiesGrossUnrealizedGainLoss1`	-	USD	3 Qtrs
Unrealized (gain)/loss on available-for-sale securities	`AvailableforsaleSecuritiesGrossUnrealizedGainLoss1`	-	USD	3 Qtrs
Unrealized (gain)/loss on available-for-sale securities	`AvailableforsaleSecuritiesGrossUnrealizedGainLoss1`	-	USD	1 Quarter
Unrealized (gain)/loss on available-for-sale securities	`AvailableforsaleSecuritiesGrossUnrealizedGainLoss1`	-	USD	1 Quarter
Total other comprehensive income/(loss)	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	-	USD	1 Quarter
Total other comprehensive income/(loss)	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	-	USD	1 Quarter
Total other comprehensive income/(loss)	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	-	USD	3 Qtrs
Total other comprehensive income/(loss)	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	-	USD	3 Qtrs
COMPREHENSIVE LOSS	`ComprehensiveIncomeNetOfTax`	$-11.09M	USD	3 Qtrs
COMPREHENSIVE LOSS	`ComprehensiveIncomeNetOfTax`	$-2.57M	USD	1 Quarter
COMPREHENSIVE LOSS	`ComprehensiveIncomeNetOfTax`	$-7.14M	USD	3 Qtrs
COMPREHENSIVE LOSS	`ComprehensiveIncomeNetOfTax`	$-3.60M	USD	1 Quarter
LOSS PER SHARE - BASIC AND DILUTED	`EarningsPerShareBasicAndDiluted`	$-0.08	USD	1 Quarter
LOSS PER SHARE - BASIC AND DILUTED	`EarningsPerShareBasicAndDiluted`	$-0.14	USD	3 Qtrs
LOSS PER SHARE - BASIC AND DILUTED	`EarningsPerShareBasicAndDiluted`	$-0.05	USD	1 Quarter
LOSS PER SHARE - BASIC AND DILUTED	`EarningsPerShareBasicAndDiluted`	$-0.23	USD	3 Qtrs
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	47.71M	shares	1 Quarter
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	47.71M	shares	3 Qtrs
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	52.94M	shares	1 Quarter
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	50.66M	shares	3 Qtrs

Cash Flow Statement 46 line items

Line Item	Tag	Value	Unit	Period
Net loss for the period	`NetIncomeLoss`	$-3.60M	USD	1 Quarter
Net loss for the period	`NetIncomeLoss`	$-11.09M	USD	3 Qtrs
Net loss for the period	`NetIncomeLoss`	$-7.14M	USD	3 Qtrs
Net loss for the period	`NetIncomeLoss`	$-2.57M	USD	1 Quarter
Depreciation	`Depreciation`	$99.00K	USD	3 Qtrs
Depreciation	`Depreciation`	$60.00K	USD	1 Quarter
Depreciation	`Depreciation`	$24.00K	USD	1 Quarter
Depreciation	`Depreciation`	$163.00K	USD	3 Qtrs
Asset retirement obligation	`AssetRetirementObligationAccretionExpense`	$17.00K	USD	3 Qtrs
Asset retirement obligation	`AssetRetirementObligationAccretionExpense`	$-16.00K	USD	3 Qtrs
Realized gain on derivatives	`DerivativeGainOnDerivative`	-	USD	3 Qtrs
Realized gain on derivatives	`DerivativeGainOnDerivative`	$14.00K	USD	3 Qtrs
Unrealized (gain)/loss on derivatives	`UnrealizedGainLossOnDerivatives`	$103.00K	USD	3 Qtrs
Unrealized (gain)/loss on derivatives	`UnrealizedGainLossOnDerivatives`	-	USD	3 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$202.00K	USD	3 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$439.00K	USD	3 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-5.00K	USD	3 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-7.00K	USD	3 Qtrs
Interest receivable	`IncreaseDecreaseInInterestAndDividendsReceivable`	$20.00K	USD	3 Qtrs
Interest receivable	`IncreaseDecreaseInInterestAndDividendsReceivable`	$-4.00K	USD	3 Qtrs
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-1.00K	USD	3 Qtrs
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-105.00K	USD	3 Qtrs
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-283.00K	USD	3 Qtrs
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-362.00K	USD	3 Qtrs
Net cash and cash equivalents used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-10.94M	USD	3 Qtrs
Net cash and cash equivalents used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-7.05M	USD	3 Qtrs
Purchases of equipment	`PaymentsToAcquireMachineryAndEquipment`	$2.00K	USD	3 Qtrs
Purchases of equipment	`PaymentsToAcquireMachineryAndEquipment`	$33.00K	USD	3 Qtrs
Proceeds from sale of equipment	`ProceedsFromSaleOfMachineryAndEquipment`	-	USD	3 Qtrs
Proceeds from sale of equipment	`ProceedsFromSaleOfMachineryAndEquipment`	$2.00K	USD	3 Qtrs
Net cash and cash equivalents used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	3 Qtrs
Net cash and cash equivalents used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-33.00K	USD	3 Qtrs
Cash received for common shares, net of share issuance costs	`ProceedsFromIssuanceOfCommonStock`	$3.08M	USD	3 Qtrs
Cash received for common shares, net of share issuance costs	`ProceedsFromIssuanceOfCommonStock`	$-42.00K	USD	3 Qtrs
Net cash and cash equivalents provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$3.08M	USD	3 Qtrs
Net cash and cash equivalents provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-42.00K	USD	3 Qtrs
Decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-11.02M	USD	3 Qtrs
Decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-3.98M	USD	3 Qtrs
Cash and cash equivalents - beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$10.14M	USD	Point-in-time
Cash and cash equivalents - beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$12.89M	USD	Point-in-time
Cash and cash equivalents - beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$23.90M	USD	Point-in-time
Cash and cash equivalents - beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$6.16M	USD	Point-in-time
Cash and cash equivalents - end of the period	`CashAndCashEquivalentsAtCarryingValue`	$10.14M	USD	Point-in-time
Cash and cash equivalents - end of the period	`CashAndCashEquivalentsAtCarryingValue`	$12.89M	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`	$6.16M	USD	Point-in-time

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