10-K Filing

RARE ELEMENT RESOURCES LTD CIK: 1419806 FY 2015

Filing Information

Form Type	10-K
Accession Number	`0001052918-16-000897`
Period End Date	20151231
Filing Date	20160329
Fiscal Year	2015
Fiscal Period	FY
XBRL Instance	ree-20151231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 49 Income Statement 38 Cash Flow Statement 50 Stockholders Equity 21

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`	0.00	shares	Point-in-time
Common Stock, Shares Authorized	`CommonStockSharesAuthorized`	0.00	shares	Point-in-time
Common Stock, Shares Outstanding	`CommonStockSharesOutstanding`	52.94M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$3.88M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$10.14M	USD	Point-in-time
Common Stock, Shares Outstanding	`CommonStockSharesOutstanding`	47.71M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$23.90M	USD	Point-in-time
Interest receivable	`InterestReceivable`	$6.00K	USD	Point-in-time
Interest receivable	`InterestReceivable`	-	USD	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$10.00K	USD	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$21.00K	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$315.00K	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$162.00K	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$4.05M	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$10.48M	USD	Point-in-time
Equipment, net	`PropertyPlantAndEquipmentNet`	$344.00K	USD	Point-in-time
Equipment, net	`PropertyPlantAndEquipmentNet`	$227.00K	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`	$5.29M	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$1.10M	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$909.00K	USD	Point-in-time
Asset retirement obligation	`AssetRetirementObligationCurrent`	$164.00K	USD	Point-in-time
Asset retirement obligation	`AssetRetirementObligationCurrent`	$152.00K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$1.06M	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$1.26M	USD	Point-in-time
Asset retirement obligation	`AssetRetirementObligationsNoncurrent`	$202.00K	USD	Point-in-time
Asset retirement obligation	`AssetRetirementObligationsNoncurrent`	$205.00K	USD	Point-in-time
Total Liabilities	`Liabilities`	$1.46M	USD	Point-in-time
Total Liabilities	`Liabilities`	$1.27M	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 December 31, 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 December 31, 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`	$23.53M	USD	Point-in-time
Accumulated other comprehensive income/(loss)	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	-	USD	Point-in-time
Accumulated other comprehensive income/(loss)	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	-	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-123.15M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-113.47M	USD	Point-in-time
Total Shareholders' Equity	`StockholdersEquity`	$4.02M	USD	Point-in-time
Total Shareholders' Equity	`StockholdersEquity`	$10.37M	USD	Point-in-time
Total Liabilities and Shareholders' Equity	`LiabilitiesAndStockholdersEquity`	$11.83M	USD	Point-in-time
Total Liabilities and Shareholders' Equity	`LiabilitiesAndStockholdersEquity`	$5.29M	USD	Point-in-time

Income Statement 38 line items

Line Item	Tag	Value	Unit	Period
Exploration and evaluation	`ExplorationExpenseMining`	$8.56M	USD	Annual
Exploration and evaluation	`ExplorationExpenseMining`	$5.07M	USD	Annual
Corporate administration	`GeneralAndAdministrativeExpense`	$4.95M	USD	Annual
Corporate administration	`GeneralAndAdministrativeExpense`	$4.04M	USD	Annual
Depreciation	`Depreciation`	$118.00K	USD	Annual
Depreciation	`Depreciation`	$210.00K	USD	Annual
Total operating expenses	`OperatingExpenses`	$13.71M	USD	Annual
Total operating expenses	`OperatingExpenses`	$9.23M	USD	Annual
Interest income	`InterestIncomeExpenseNonoperatingNet`	$76.00K	USD	Annual
Interest income	`InterestIncomeExpenseNonoperatingNet`	$28.00K	USD	Annual
Loss on currency translation	`ForeignCurrencyTransactionGainLossBeforeTax`	$-476.00K	USD	Annual
Loss on currency translation	`ForeignCurrencyTransactionGainLossBeforeTax`	$-507.00K	USD	Annual
Gain/(loss) on derivatives	`UnrealizedGainLossOnDerivatives`	$116.00K	USD	Annual
Gain/(loss) on derivatives	`UnrealizedGainLossOnDerivatives`	-	USD	Annual
Total non-operating expenses	`NonoperatingIncomeExpense`	$-448.00K	USD	Annual
Total non-operating expenses	`NonoperatingIncomeExpense`	$-315.00K	USD	Annual
Net loss	`NetIncomeLoss`	$-2.94M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-4.43M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-14.03M	USD	Annual
Net loss	`NetIncomeLoss`	$-2.57M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-9.68M	USD	Annual
Net loss	`NetIncomeLoss`	$-3.60M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-2.10M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-3.06M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-2.53M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-2.48M	USD	1 Quarter
LOSS PER SHARE - BASIC AND DILUTED	`EarningsPerShareBasicAndDiluted`	$-0.05	USD	1 Quarter
LOSS PER SHARE - BASIC AND DILUTED	`EarningsPerShareBasicAndDiluted`	$-0.29	USD	Annual
LOSS PER SHARE - BASIC AND DILUTED	`EarningsPerShareBasicAndDiluted`	$-0.19	USD	Annual
LOSS PER SHARE - BASIC AND DILUTED	`EarningsPerShareBasicAndDiluted`	$-0.05	USD	1 Quarter
LOSS PER SHARE - BASIC AND DILUTED	`EarningsPerShareBasicAndDiluted`	$-0.08	USD	1 Quarter
LOSS PER SHARE - BASIC AND DILUTED	`EarningsPerShareBasicAndDiluted`	$-0.04	USD	1 Quarter
LOSS PER SHARE - BASIC AND DILUTED	`EarningsPerShareBasicAndDiluted`	$-0.06	USD	1 Quarter
LOSS PER SHARE - BASIC AND DILUTED	`EarningsPerShareBasicAndDiluted`	$-0.05	USD	1 Quarter
LOSS PER SHARE - BASIC AND DILUTED	`EarningsPerShareBasicAndDiluted`	$-0.09	USD	1 Quarter
LOSS PER SHARE - BASIC AND DILUTED	`EarningsPerShareBasicAndDiluted`	$-0.06	USD	1 Quarter
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	51.23M	shares	Annual
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	47.71M	shares	Annual

Cash Flow Statement 50 line items

Line Item	Tag	Value	Unit	Period
Net loss for the period	`NetIncomeLoss`	$-2.53M	USD	1 Quarter
Net loss for the period	`NetIncomeLoss`	$-3.06M	USD	1 Quarter
Net loss for the period	`NetIncomeLoss`	$-3.60M	USD	1 Quarter
Net loss for the period	`NetIncomeLoss`	$-2.10M	USD	1 Quarter
Net loss for the period	`NetIncomeLoss`	$-2.48M	USD	1 Quarter
Net loss for the period	`NetIncomeLoss`	$-9.68M	USD	Annual
Net loss for the period	`NetIncomeLoss`	$-2.57M	USD	1 Quarter
Net loss for the period	`NetIncomeLoss`	$-14.03M	USD	Annual
Net loss for the period	`NetIncomeLoss`	$-4.43M	USD	1 Quarter
Net loss for the period	`NetIncomeLoss`	$-2.94M	USD	1 Quarter
Depreciation	`Depreciation`	$118.00K	USD	Annual
Depreciation	`Depreciation`	$210.00K	USD	Annual
Asset retirement obligation	`AssetRetirementObligationAccretionExpense`	$-49.00K	USD	Annual
Asset retirement obligation	`AssetRetirementObligationAccretionExpense`	$-9.00K	USD	Annual
Realized gain on derivatives	`TradingSecuritiesRealizedGain`	$14.00K	USD	Annual
Realized gain on derivatives	`TradingSecuritiesRealizedGain`	-	USD	Annual
Unrealized (gain)/loss on derivatives	`UnrealizedLossOnDerivatives`	$102.00K	USD	Annual
Unrealized (gain)/loss on derivatives	`UnrealizedLossOnDerivatives`	-	USD	Annual
Stock-based compensation	`ShareBasedCompensation`	$254.00K	USD	Annual
Stock-based compensation	`ShareBasedCompensation`	$517.00K	USD	Annual
Adjustments Total	`AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities`	$-13.47M	USD	Annual
Adjustments Total	`AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities`	$-9.31M	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-11.00K	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-8.00K	USD	Annual
Interest receivable	`IncreaseDecreaseInInterestAndDividendsReceivable`	$2.00K	USD	Annual
Interest receivable	`IncreaseDecreaseInInterestAndDividendsReceivable`	$-6.00K	USD	Annual
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-153.00K	USD	Annual
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-87.00K	USD	Annual
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-190.00K	USD	Annual
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-314.00K	USD	Annual
Net cash and cash equivalents used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-13.69M	USD	Annual
Net cash and cash equivalents used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-9.34M	USD	Annual
Purchases of equipment	`PaymentsToAcquireMachineryAndEquipment`	$2.00K	USD	Annual
Purchases of equipment	`PaymentsToAcquireMachineryAndEquipment`	$33.00K	USD	Annual
Proceeds from sale of equipment	`ProceedsFromSaleOfMachineryAndEquipment`	$2.00K	USD	Annual
Proceeds from sale of equipment	`ProceedsFromSaleOfMachineryAndEquipment`	-	USD	Annual
Net cash and cash equivalents provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	Annual
Net cash and cash equivalents provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-33.00K	USD	Annual
Cash received for common shares, net of share issuance costs	`ProceedsFromIssuanceOfCommonStock`	$3.08M	USD	Annual
Cash received for common shares, net of share issuance costs	`ProceedsFromIssuanceOfCommonStock`	$-42.00K	USD	Annual
Net cash and cash equivalents provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-42.00K	USD	Annual
Net cash and cash equivalents provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$3.08M	USD	Annual
Decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-6.26M	USD	Annual
Decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-13.76M	USD	Annual
Cash and cash equivalents - beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$3.88M	USD	Point-in-time
Cash and cash equivalents - beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$10.14M	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`	$10.14M	USD	Point-in-time
Cash and cash equivalents - end of the period	`CashAndCashEquivalentsAtCarryingValue`	$3.88M	USD	Point-in-time
Cash and cash equivalents - end of the period	`CashAndCashEquivalentsAtCarryingValue`	$23.90M	USD	Point-in-time

Stockholders Equity 21 line items

Line Item	Tag	Value	Unit	Period
Beginning Balance, Amount	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$4.02M	USD	Point-in-time
Beginning Balance, Amount	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$10.37M	USD	Point-in-time
Beginning Balance, Amount	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$23.92M	USD	Point-in-time
Shares issued For private placement, Amount	`ProceedsFromIssuanceOfPrivatePlacement`	$3.08M	USD	Annual
Exercise of options, Amount	`StockIssuedDuringPeriodValueStockOptionsExercised`	$-42.00K	USD	Annual
Exercise of options, Amount	`StockIssuedDuringPeriodValueStockOptionsExercised`	$1.00K	USD	Annual
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition`	$254.00K	USD	Annual
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition`	$517.00K	USD	Annual
Net loss for the period	`NetIncomeLoss`	$-2.94M	USD	1 Quarter
Net loss for the period	`NetIncomeLoss`	$-4.43M	USD	1 Quarter
Net loss for the period	`NetIncomeLoss`	$-14.03M	USD	Annual
Net loss for the period	`NetIncomeLoss`	$-2.57M	USD	1 Quarter
Net loss for the period	`NetIncomeLoss`	$-9.68M	USD	Annual
Net loss for the period	`NetIncomeLoss`	$-3.60M	USD	1 Quarter
Net loss for the period	`NetIncomeLoss`	$-2.10M	USD	1 Quarter
Net loss for the period	`NetIncomeLoss`	$-3.06M	USD	1 Quarter
Net loss for the period	`NetIncomeLoss`	$-2.53M	USD	1 Quarter
Net loss for the period	`NetIncomeLoss`	$-2.48M	USD	1 Quarter
Ending Balance, Amount	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$10.37M	USD	Point-in-time
Ending Balance, Amount	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$4.02M	USD	Point-in-time
Ending Balance, Amount	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$23.92M	USD	Point-in-time

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