Articles from Rare Element Resources Ltd.

Rare Element Resources Ltd. (the “Company” or “RER”) (OTCQB: REEMF) announces an updated timeline for the commencement of operations of the Company’s rare earth processing and separation demonstration plant in Upton, Wyoming (the “Demonstration Plant”). The data gathered from the operation of the Demonstration Plant, which was designed and constructed by a General Atomics-led consortium of companies, will be material in advancing the design and economics of a commercial plant utilizing the Company’s proprietary processing and separation technology. As the recently constructed Demonstration Plant progressed through the equipment shakedown process, several key design and equipment modifications were identified as necessary to achieve satisfactory operational status. RER, in conjunction with the mineral processing experts at UIT (an affiliate of General Atomics which was instrumental in advancing the technology through the successful pilot testing phase), is currently undertaking a system-wide review and will be recommending upgrades and improvements to the Demonstration Plant. Following the review, recommended modifications and upgrades will be implemented. As a result, the commencement of operations will be delayed by several months.

Rare Element Resources Ltd. (the “Company” or “RER”) (OTCQB: REEMF) is pleased to confirm it has received a non-binding Letter of Interest from the Export-Import Bank of the United States (“EXIM”) to provide a portion of debt financing of up to $553 million for the Bear Lodge Project development’s total capital expansion (the “Letter of Interest”). The funds would support the permitting, engineering design, and construction of the Bear Lodge Critical Rare Earth Project (the “Project”) as the Company advances the development of the Project.

Rare Element Resources Ltd. (the “Company” or “RER”) (OTCQB: REEMF) is pleased to provide this progress update on the Company’s rare earth processing and separation demonstration plant in Upton, Wyoming (the “Demonstration Plant”). The Demonstration Plant, which has been designed and constructed to advance the Company’s proprietary processing and separation technology, has progressed through the equipment shakedown process and is in the final stages of commissioning. The initial phase of production is expected by the end of the first quarter 2025. The Demonstration Plant, utilizing innovative and proprietary processing and separation technology, is expected to generate the operational and economic data necessary for the design of a commercial-scale plant.

Rare Element Resources Ltd. (the “Company” or “RER”) (OTCQB: REEMF) is pleased to announce it has received the U.S. Nuclear Regulatory Commission (the “NRC”) operations approval under the previously issued license. This final approval, which was required for the commencement of operations at the Company’s rare earth processing and separation demonstration plant in Upton, Wyoming (the “Demonstration Plant”) follows the recently announced U.S. Department of Energy’s (the “DOE”) operations budget acceptance and issuance of its continuation notice approving operations. The Demonstration Plant, which has been designed to advance the Company’s proprietary processing and separation technology, is expected to generate the operational and economic data necessary for the design of a commercial-scale plant.

Rare Element Resources Ltd. (the “Company” or “RER”) (OTCQB: REEMF) is pleased to announce that the U.S. Department of Energy’s (the “DOE”) Office of Energy Efficiency and Renewable Energy has issued the second and final Project Continuation Notice following its approval of the operations budget and confirmation of readiness for the operations phase of the Company’s rare earth processing and separation demonstration plant (the “Demonstration Plant”). This notice allows operations to formally commence once the Company receives the U.S. Nuclear Regulatory Commission (the “NRC”) operations approval under the previously issued license, which is anticipated in the coming weeks. These milestones will allow for the commencement of operations in the fourth quarter of 2024. The Demonstration Plant, which has been designed to advance the Company’s proprietary processing and separation technology, is expected to generate the operational and economic data necessary for the design of a commercial-scale plant.

Rare Element Resources Ltd. (the “Company” or “RER”) (OTCQB: REEMF) is pleased to announce the appointment of Ken Mushinski as its President and Chief Executive Officer. Mr. Mushinski, a former member of the Board of Directors for the Company (“Board”), will commence his position and rejoin the Board starting on May 1, 2024. As previously announced, Mr. Brent Berg, current President and CEO, will be leaving the Company. His last day will be March 20, 2024. Ms. Kelli Kast, a current Board member and consultant with nearly twelve years of service to the Company, has been appointed as the Interim President and Chief Executive Officer effective as of March 20, 2024.

Rare Element Resources Ltd. (the “Company” or “RER”) (OTCQB: REEMF) is pleased to report that its previously announced rights offering of common shares was oversubscribed and generated approximately US$35.8 million in gross proceeds.

Rare Element Resources Ltd. (the “Company” or “RER”) (OTCQB: REEMF) is pleased to announce that it has completed a new mineral resource estimate based on maximizing the recovery of the key magnet materials of neodymium (Nd), praseodymium (Pr), terbium (Tb) and dysprosium (Dy), as well as other critical rare earths such as lanthanum (La). The estimate is focused on the Bull Hill deposit at the Bear Lodge Project, located in northeastern Wyoming, with long-term upside existing in the Carbon, Whitetail, and Taylor deposits located within the Company’s mineral claims.

Rare Element Resources Ltd. (the “Company” or “RER”) (OTCQB: REEMF) is pleased to announce that today it has commenced the previously announced rights offering to raise up to approximately US$35.8 million in gross proceeds. The Company will issue to the holders of its common shares on December 15, 2023, the record date for the rights offering, at no charge, one and four-tenth (or 1.4) non-transferable subscription rights for each common share owned by each shareholder at the close of business on the record date. Each whole subscription right entitles the holder thereof to purchase one common share of the Company at a subscription price of US$0.12 per share (the “basic subscription privilege”). The rights offering also includes an oversubscription privilege that entitles shareholders who exercise their subscription rights in full under the basic subscription privilege the right to purchase additional common shares of the Company in the rights offering, subject to availability and the pro rata allocation of shares among rights holders exercising such oversubscription privilege. No fractional common shares will be issued in the rights offering.

Rare Element Resources Ltd. (the “Company” or “RER”) (OTCQB: REEMF) announces that it was invited to participate in the first annual Mine-To-Magnet Workshop held by the NDIA and sponsored by Lockheed Martin. The event will be held on January 16 and 17, 2024, in Bethesda, MD. The two-day workshop gathers stakeholders from across the supply chain as well as the U.S. government to discuss the United States’ need for, and sourcing of, the critical materials and inputs for the permanent, high-strength, rare earth magnets essential for many defense and green technology applications.

Rare Element Resources Ltd. (the “Company” or “RER”) (OTCQB: REEMF) announces that its President and Chief Executive Officer Brent Berg, has notified the Company that he will resign his position effective April 2, 2024, or earlier at the discretion of the RER Board of Directors (the “Board”). Mr. Berg, who has held that position since November 1, 2022, advised the Company that he will be moving to a new opportunity outside of the rare earth industry. Mr. Berg will also resign from the Board effective on the same date.

Rare Element Resources Ltd. (the “Company” or “RER”) (OTCQB: REEMF) is pleased to announce that the U.S. Department of Energy’s (the “DOE”) Office of Energy Efficiency and Renewable Energy has issued a Project Continuation Notice following its approval of the budget for construction of the Company’s planned rare earth processing and separation demonstration plant (the “Demonstration Plant”). This approval, along with the DOE’s recent completion of its National Environmental Policy Act review, allows commencement of construction of the Demonstration Plant, located in Upton, Wyoming. The Company expects plant operations to commence in the third quarter of 2024, following the seven-to-10-month construction period. The Demonstration Plant is expected to advance the Company’s proprietary processing and separation technology and generate the operational and economic data necessary for design of a commercial-scale plant.

Rare Element Resources Ltd. (the “Company” or “RER”) (OTCQB: REEMF) is pleased to announce that it intends to launch a rights offering for gross proceeds of approximately US$36 million, if all subscription rights are exercised under the rights offering. In the rights offering, each holder of the Company’s common shares as of the close of business on the record date of December 15, 2023 will be issued, at no charge, one and four-tenth (or 1.4) non-transferable subscription rights for each common share owned by that shareholder at the close of business on the record date. There is no minimum amount of gross proceeds that is required to be raised under the rights offering.

Rare Element Resources Ltd. (the “Company” or “RER”) (OTCQB: REEMF) is pleased to announce that the U.S. Department of Energy’s (the “DOE”) Office of Energy Efficiency and Renewable Energy has finalized its National Environmental Policy Act (“NEPA”) review of the Company’s planned rare earth processing and separation demonstration plant (the “Demonstration Plant”) to be built in Upton, Wyoming. This completes the federal permitting activity prior to construction. The DOE NEPA review was consistent with the U.S. Nuclear Regulatory Commission’s NEPA review, with both resulting in a finding of no significant impact. The Company is awaiting next stage budget approval from the DOE, which is providing approximately 50% of the project costs, to commence construction. The Demonstration Plant will advance the Company’s proprietary recovery and separation technology, and the operational and economic data generated will be essential to the design of a commercial-scale plant.

Rare Element Resources Ltd. (the “Company” or “RER”) (OTCQB: REEMF) is pleased to announce that the U.S. Nuclear Regulatory Commission (“NRC”) has completed its review and issued the Company a Source Material License. This license is necessary to allow the processing of previously stockpiled material from the Bear Lodge Project at the Company’s planned processing and separation demonstration plant (“Demonstration Plant”) to be built in Upton, Wyoming. The license represents a critical step that advances the project to the next stage approval with the U.S. Department of Energy’s (“DOE”) Office of Energy Efficiency and Renewable Energy, which is providing approximately 50% of the budgeted project costs.

Rare Element Resources Ltd. (the “Company” or “RER”) (OTCQB: REEMF) is pleased to announce the completion of the funding agreement for the previously announced $4.4 million grant from the Wyoming Energy Authority (the “WEA”). The WEA grant is a cost reimbursement award for future expenditures related to construction of the Company’s rare earth processing and separation demonstration plant to be located in Upton, Wyoming. The plant is also supported by the U.S. Department of Energy (the “DOE”) through a previously announced $21.9 million financial award. The funding provided through the DOE and WEA programs is expected to cover more than half of the estimated project costs.

Rare Element Resources Ltd. (the “Company” or “RER”) (OTCQB: REEMF) is pleased to announce that it will be presenting at the Emerging Growth Metals, Minerals and Energy Conference on May 17, 2023. This real-time, interactive online event will give existing shareholders and the investment community the opportunity to interact with the Company’s President and Chief Executive Officer, Brent Berg. Mr. Berg will present on the rare earth industry and the Company’s progress on the development of its rare earth processing and separation demonstration plant in Upton, Wyoming. Mr. Berg will also be attending and presenting at the Wyoming Mining Association annual meeting in Sheridan, Wyoming on June 7-9, 2023.

Rare Element Resources Ltd. (the “Company” or “RER”) (OTCQB: REEMF) is pleased to announce that it has been awarded a $4.4 million grant from the Wyoming Energy Authority (the “WEA”) to be utilized for the advancement of the Company’s rare earth element processing and separation demonstration plant project in Upton, Wyoming. The grant is a cost reimbursement award for future expenditures related to the project, which is also supported by the U.S. Department of Energy (the “DOE”) through a previously announced financial award. The total project cost is approximately $44 million, with $21.9 million provided through the DOE.

Rare Element Resources Ltd. (the “Company” or “RER”) (OTCQB: REEMF) is pleased to announce the appointment of Brent Berg as its President and Chief Executive Officer as Randall Scott retires.

Rare Element Resources Ltd. (the “Company” or “RER”) (OTCQB: REEMF) is pleased to provide an update on the progress of its planned rare earth processing and separation demonstration project in Upton, Wyoming. The project, led by General Atomics, an affiliate of the Company’s largest shareholder Synchron, has just completed the 60% plant design milestone and is now advancing toward final detailed engineering due for completion later this year. Early expenditures for acquisition of long lead-time equipment and services are being made to minimize the effect of inflation and supply chain bottlenecks, and permitting and licensing activities are also underway. These activities are taking place while the previously leased plant location in Upton, Wyoming is being prepared for construction by the site owner.

Rare Element Resources Ltd. (the “Company” or “RER”) (OTCQB: REEMF) is pleased to announce the appointment of Wayne Rich as its Chief Financial Officer and provide a progress update on the rare earth processing and separation demonstration plant project.

Rare Element Resources Ltd. (the “Company” or “RER”) (OTCQB: REEMF) is pleased to report that its previously announced rights offering of common shares was oversubscribed and generated approximately US$25.4 million in gross proceeds.

Rare Element Resources Ltd. (the “Company” or “RER”) (OTCQB: REEMF) is pleased to announce that it has commenced the previously announced rights offering to raise up to approximately US$25.4 million in gross proceeds. The Company has issued, to the holders of its common shares on October 19, 2021, the record date for the rights offering, one non-transferable subscription right for each common share owned by each shareholder.

Rare Element Resources Ltd. (the “Company” or “RER”) (OTCQB: REEMF) is pleased to provide an update regarding the pending launch of the previously announced rights offering to raise up to approximately US$25 million in gross proceeds. Consistent with the terms set forth in the news release issued by the Company on October 5, 2021, each holder of the Company’s common shares as of the close of business on the record date of October 19, 2021 will have an opportunity to participate in the rights offering.

Rare Element Resources Ltd. (the “Company” or “RER”) (OTCQB: REEMF) is pleased to announce that it intends to launch a rights offering for gross proceeds of approximately US$25 million if all subscription rights are exercised under the rights offering. In the rights offering, each holder of the Company’s common shares as of the close of business on the record date of October 19, 2021 will be issued, at no charge, one non-transferable subscription right for each common share owned by that shareholder on the record date. There is no minimum amount of gross proceeds that is required to be raised under the rights offering.

Rare Element Resources Ltd. (the “Company” or “RER”) (OTCQB: REEMF) is pleased to announce the finalization of negotiations with the U.S. Department of Energy Office of Energy Efficiency and Renewable Energy (“DoE/EERE”) for an Assistance Agreement providing approximately US$21.9 million of government funds for the engineering, construction and operation of a rare earth separation and processing demonstration plant to be located in Wyoming. The DoE/EERE has notified General Atomics, an affiliate of Synchron, the Company’s largest shareholder, of the finalization of the award. The Company is a subrecipient to General Atomics in the demonstration project, which will incorporate the Company’s proprietary technology.

Rare Element Resources Ltd. (the “Company” or “RER”) (OTCQB: REEMF) is pleased to provide an update regarding the progress of pre-award negotiations with the U.S. Department of Energy (“DoE”) relating to the Company’s selection, as a member of a consortium of companies, for a potential financial award of $21.9 million for the engineering, construction and operation of a rare earth separation and processing demonstration plant.