Rare Element Files September 30 Financial Results And Announces Commencement of Preliminary Feasibility Study for Bear Lodge

Rare Element Resources Ltd. (TSX:RES,AMEX:REE) announced financial results for Q1 2011 and provided an update on the Bear Lodge project.

As quoted in the press release:

Cash and cash equivalents at September 30, 2011 were $64.2 million compared to $11.1 million as of September 30, 2010. The increase in cash was primarily due to the $57.5 million financing completed in December 2010 and the exercise of almost all of the Company’s outstanding warrants.

Click here to read the Rare Element Resources Ltd. (TSX:RES) press release.