Rare Element Resources Reports on Plans for 2015

Rare Element Resources (NYSE MKT:REE,TSX:RES) reported on its 2014 activities and outlined its planned focus for 2015. Last year, the company finalized its preliminary feasibility study for its Bear Lodge project in Wyoming.

As quoted in the press release, plans for 2015 include:

• Continue to support the USFS’s efforts to finish the alternatives assessment and complete the draft and final EIS documents. The USFS has indicated that they are preparing an updated EIS schedule, and we anticipate receiving a copy in the next few weeks.
• Submit applications for mine and industrial siting permits to the Wyoming Department of Environmental Quality and for a possession license to the U.S. Nuclear Regulatory Commission.These tasks are dependent upon completion of the alternatives assessment portion of the EIS.
• Confirm positive results of separation test work completed to date in larger-scale pilot plant testing. Test additional elemental separation methods directed at creating product baskets that meet end-users’ specifications and maximize product value to the Company.
• Initiate additional studies, including rheology studies and final geotechnical confirmation of waste rock and tailing characteristics, to support the next phase of engineering for inclusion in the feasibility study.
• Exercise responsible cash management to ensure continued progress toward Project construction.
• Continue to cultivate relationships with potential offtake partners, including supplying upgraded product samples and providing Project updates.
• Design and construct planned demonstration plant.The Company continues to evaluate potential third-party financing options.

Rare Earth Elements CEO, Randall J. Scott, said:

Not only did we complete a preliminary feasibility study that showed a long-life project with strong economics, but we also progressed the permitting process by helping the U.S. Forest Service advance the environmental impact statement on the Project. These accomplishments, in combination with the advancements we made during the year on both our proprietary rare earth recovery technology and the initial test work on rare earth separation, resulted in an exceptional year for the Company.

Click here to read the Rare Element Resources (NYSE,MKT:REE,TSX:RES) press release