Rare Element Resources (REE)

Business description

Rare Element Resources is a mineral resource company advancing the development of the Bear Lodge rare earth oxide project in Wyoming, US.

Share price chart

Share chart

Stock data

Market cap.US$12.4m
Last closeUS$0.26
High / Low (52 weeks)US$2.0 / US$0.3
Stock market listingUS, CN
Forecast net cash (US$m)21
Forecast gearing ratio (%)N/A
TeamResources - Mining

Price performance

Relative *(31)(55.1)(85.3)

* % Relative to local index

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Y/E Dec Revenue (US$m) EBITDA (US$m) PBT (US$m) EPS (c) P/E (x) P/CF (x)
2012A 0.0 (15.5) (15.2) (34.2) N/A N/A
2013A 0.0 (19.4) (19.3) (45.1) N/A N/A
2014E 0.0 (18.1) (18.2) (30.9) N/A N/A
2015E 0.0 (19.5) (19.6) (23.9) N/A N/A

Last updated on 12/12/2014

Latest research

Investment summary

Rare Element Resources (REE) is developing the Bear Lodge rare earth oxide (REO) project in Wyoming, US. Over the past two months, REE has revised up expected thorium-free REO product purities to 99.999%, published the positive results of its trenching exercise and provided an update on slight delays in the permitting process. Additional funding will be needed for the planned larger-scale demonstration plant. Our reworked dividend discount-based company valuation, at a 10% discount rate, is US$1.05/share (previously US$1.44/share). The lower valuation is a result of additional equity dilution based on both higher short-term funding needs of US$45-60m (as per the Q314 results) and a lower assumed equity issue price of US$0.50 per share used in our valuation. Project risk parameters should improve with better geological and process data.

Last updated on 05/01/2015

Industry outlook

REE is well positioned to benefit from the global move to de-risk access to rare earth oxides by diversifying production away from China.

Last updated on 22/12/2014

Key management

Randy Scott , CEO
Paul Zink, CFO
Robbin Lee, IR

Company address

225 Union Blvd
Suite 250
CO 80228
United States
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