Rare Element Resources Ltd. (AMEX:REE, NYSE:REE,TSX:RES) summarized highlights from 2012 and outlined plans for 2013.
As quoted in the press release:
Rare Element Resources ended 2012 with approximately US $40 million in cash and 45 million common shares outstanding. During 2012, additional drilling was completed to expand and upgrade the Bull Hill and Whitetail Ridge rare earth resource areas, and to expand the heavy rare earth (HREE) enrichment zones at the Taylor and Carbon exploration targets. These HREE-enrichment zones support the full district mix of those elements considered Critical Rare Earth Elements (CREEs), including Nd, Pr, Eu, Tb, Dy and Y. The Company completed a pre-feasibility study (PFS), continued significant ore reserve and process studies and made advances in optimization of the rare earths concentration process. The PFS showed a pre-tax NPV of US $1.3 billion for the portion of the project as delineated in early 2012. That resource was expanded and upgraded with additional drilling during 2012, with results expected in the second quarter of 2013.
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