10-K Filing

RARE ELEMENT RESOURCES LTD CIK: 1419806 FY 2016

Filing Information

Form Type	10-K
Accession Number	`0001052918-17-000165`
Period End Date	20161231
Filing Date	20170329
Fiscal Year	2016
Fiscal Period	FY
XBRL Instance	ree-20161231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 43 Income Statement 26 Cash Flow Statement 38 Stockholders Equity 12

Balance Sheet 43 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
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$3.88M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$10.14M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$927.00K	USD	Point-in-time
Common Stock, Shares Outstanding	`CommonStockSharesOutstanding`	52.94M	shares	Point-in-time
Common Stock, Shares Outstanding	`CommonStockSharesOutstanding`	52.94M	shares	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$81.00K	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$172.00K	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$1.01M	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$4.05M	USD	Point-in-time
Equipment, net	`PropertyPlantAndEquipmentNet`	$227.00K	USD	Point-in-time
Equipment, net	`PropertyPlantAndEquipmentNet`	$106.00K	USD	Point-in-time
Investment in land	`Land`	$600.00K	USD	Point-in-time
Investment in land	`Land`	$980.00K	USD	Point-in-time
Mineral properties	`MineralPropertiesNet`	-	USD	Point-in-time
Mineral properties	`MineralPropertiesNet`	$27.00K	USD	Point-in-time
Total Assets	`Assets`	$5.29M	USD	Point-in-time
Total Assets	`Assets`	$1.71M	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$909.00K	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$65.00K	USD	Point-in-time
Asset retirement obligation	`AssetRetirementObligationCurrent`	$152.00K	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`	$217.00K	USD	Point-in-time
Asset retirement obligation	`AssetRetirementObligationsNoncurrent`	$205.00K	USD	Point-in-time
Asset retirement obligation	`AssetRetirementObligationsNoncurrent`	$205.00K	USD	Point-in-time
Repurchase option	`OtherLiabilities`	-	USD	Point-in-time
Repurchase option	`OtherLiabilities`	$600.00K	USD	Point-in-time
Total Liabilities	`Liabilities`	$1.02M	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, 2016 and 2015 52,941,880	`CommonStockValue`	$103.64M	USD	Point-in-time
Common shares, no par value unlimited shares authorized; shares outstanding December 31, 2016 and 2015 52,941,880	`CommonStockValue`	$103.64M	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapital`	$23.53M	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapital`	$23.63M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-123.15M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-126.57M	USD	Point-in-time
Total Shareholders' Equity	`StockholdersEquity`	$692.00K	USD	Point-in-time
Total Shareholders' Equity	`StockholdersEquity`	$4.02M	USD	Point-in-time
Total Liabilities and Shareholders' Equity	`LiabilitiesAndStockholdersEquity`	$1.71M	USD	Point-in-time
Total Liabilities and Shareholders' Equity	`LiabilitiesAndStockholdersEquity`	$5.29M	USD	Point-in-time

Income Statement 26 line items

Line Item	Tag	Value	Unit	Period
Exploration and evaluation	`ExplorationExpenseMining`	$394.00K	USD	Annual
Exploration and evaluation	`ExplorationExpenseMining`	$5.07M	USD	Annual
Corporate administration	`GeneralAndAdministrativeExpense`	$4.04M	USD	Annual
Corporate administration	`GeneralAndAdministrativeExpense`	$2.61M	USD	Annual
Depreciation	`Depreciation`	$38.00K	USD	Annual
Depreciation	`Depreciation`	$118.00K	USD	Annual
Impairment of land and mineral property	`AssetImpairmentCharges`	-	USD	Annual
Impairment of land and mineral property	`AssetImpairmentCharges`	$407.00K	USD	Annual
Total operating expenses	`OperatingExpenses`	$3.44M	USD	Annual
Total operating expenses	`OperatingExpenses`	$9.23M	USD	Annual
Interest income	`InterestIncomeExpenseNonoperatingNet`	$28.00K	USD	Annual
Interest income	`InterestIncomeExpenseNonoperatingNet`	-	USD	Annual
Loss on currency translation	`ForeignCurrencyTransactionGainLossBeforeTax`	$-476.00K	USD	Annual
Loss on currency translation	`ForeignCurrencyTransactionGainLossBeforeTax`	-	USD	Annual
Other income	`OtherIncome`	-	USD	Annual
Other income	`OtherIncome`	$19.00K	USD	Annual
Gain/(loss) on derivatives	`UnrealizedGainLossOnDerivatives`	-	USD	Annual
Gain/(loss) on derivatives	`UnrealizedGainLossOnDerivatives`	-	USD	Annual
Total non-operating expenses	`NonoperatingIncomeExpense`	$-448.00K	USD	Annual
Total non-operating expenses	`NonoperatingIncomeExpense`	$19.00K	USD	Annual
Net loss	`NetIncomeLoss`	$9.68M	USD	Annual
Net loss	`NetIncomeLoss`	$3.43M	USD	Annual
LOSS PER SHARE BASIC AND DILUTED	`EarningsPerShareBasicAndDiluted`	$-0.07	USD	Annual
LOSS PER SHARE BASIC AND DILUTED	`EarningsPerShareBasicAndDiluted`	$-0.19	USD	Annual
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	52.49M	shares	Annual
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	51.23M	shares	Annual

Cash Flow Statement 38 line items

Line Item	Tag	Value	Unit	Period
Net loss for the period	`NetIncomeLoss`	$9.68M	USD	Annual
Net loss for the period	`NetIncomeLoss`	$3.43M	USD	Annual
Depreciation	`Depreciation`	$38.00K	USD	Annual
Depreciation	`Depreciation`	$118.00K	USD	Annual
Asset retirement obligation	`AssetRetirementObligationAccretionExpense`	-	USD	Annual
Asset retirement obligation	`AssetRetirementObligationAccretionExpense`	$-9.00K	USD	Annual
Impairment of land and mineral property	`AssetImpairmentCharges`	-	USD	Annual
Impairment of land and mineral property	`AssetImpairmentCharges`	$407.00K	USD	Annual
Unrealized (gain)/loss on derivatives	`UnrealizedGainLossOnDerivatives`	-	USD	Annual
Unrealized (gain)/loss on derivatives	`UnrealizedGainLossOnDerivatives`	-	USD	Annual
Stock-based compensation	`ShareBasedCompensation`	$254.00K	USD	Annual
Stock-based compensation	`ShareBasedCompensation`	$97.00K	USD	Annual
Adjustments Total	`AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities`	$-9.31M	USD	Annual
Adjustments Total	`AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities`	$-2.88M	USD	Annual
Prepaid expenses and other	`IncreaseDecreaseInPrepaidExpense`	$-170.00K	USD	Annual
Prepaid expenses and other	`IncreaseDecreaseInPrepaidExpense`	$-91.00K	USD	Annual
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-844.00K	USD	Annual
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-190.00K	USD	Annual
Net cash and cash equivalents used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-3.64M	USD	Annual
Net cash and cash equivalents used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-9.34M	USD	Annual
Proceeds from sale of equipment	`ProceedsFromSaleOfMachineryAndEquipment`	$88.00K	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`	$88.00K	USD	Annual
Share issuance, net	`ProceedsFromIssuanceOfCommonStock`	$3.08M	USD	Annual
Share issuance, net	`ProceedsFromIssuanceOfCommonStock`	-	USD	Annual
Repurchase option	`StockRepurchaseOption`	$-595.00K	USD	Annual
Repurchase option	`StockRepurchaseOption`	-	USD	Annual
Net cash and cash equivalents provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$595.00K	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`	$-2.95M	USD	Annual
Decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-6.26M	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`	$927.00K	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`	$10.14M	USD	Point-in-time
Cash and cash equivalents - end of the period	`CashAndCashEquivalentsAtCarryingValue`	$927.00K	USD	Point-in-time

Stockholders Equity 12 line items

Line Item	Tag	Value	Unit	Period
Beginning Balance, Amount	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$692.00K	USD	Point-in-time
Beginning Balance, Amount	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$10.37M	USD	Point-in-time
Beginning Balance, Amount	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$4.02M	USD	Point-in-time
Shares issued For private placement, Amount	`ProceedsFromIssuanceOfPrivatePlacement`	$3.08M	USD	Annual
Exercise of options, Amount	`StockIssuedDuringPeriodValueStockOptionsExercised`	$1.00K	USD	Annual
Stock-based compensation	`ShareBasedCompensation`	$254.00K	USD	Annual
Stock-based compensation	`ShareBasedCompensation`	$97.00K	USD	Annual
Net loss for the period	`NetIncomeLoss`	$9.68M	USD	Annual
Net loss for the period	`NetIncomeLoss`	$3.43M	USD	Annual
Ending Balance, Amount	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$692.00K	USD	Point-in-time
Ending Balance, Amount	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$10.37M	USD	Point-in-time
Ending Balance, Amount	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$4.02M	USD	Point-in-time

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