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

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Stock data

Market cap.US$19.1m
Last closeUS$0.40
High / Low (52 weeks)US$2.0 / US$0.4
Stock market listingUS, CN
Forecast net cash (US$m)21
Forecast gearing ratio (%)N/A
TeamResources - Mining
SectorMining

Price performance

%1m3m12m
Actual(29.3)(47.4)(68)
Relative *(29.7)(48.6)(71.9)

* % 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 25/11/2014

Latest research

Investment summary

Rare Element Resources (REE) has announced the results of the pre-feasibility study (PFS) on Bear Lodge, its rare earth oxide (REO) project in Wyoming, US. Planned annual LOM TREO production is 7,510 tons (6,813 tonnes) over a project life of 45 years. Construction is expected during 2016 with ramp-up in late 2016 through early 2017. Initial capital expenditure is budgeted at US$290m. REE will produce a concentrate with a purity of +97% REOs as a result of its proprietary hydrometallurgical extraction technology. The ore body is enriched with heavy rare earth elements and REOs considered critical by the US Energy and Defence departments. It has yet to sign up an offtake partner. Our dividend discount-based company valuation, at a 10% discount rate, is US$1.44/share.

Last updated on 01/12/2014

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 01/12/2014

Key management

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

Company address

225 Union Blvd
Suite 250
Lakewood
CO 80228
United States
720.278.2460
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