Wyoming-focused Rare Element Resources (TSE:RES)(AMEX:REE) Friday unveiled fiscal third-quarter earnings and said its president and CEO would present at a major conference in New York.
fiscal third quarter ended March 31, Rare Element posted a total
operating loss of US$5.3 million compared to US$2.0 million a year
Net loss for the period was US$5.3 million against US$1.6 million in 2011, or a loss of 12 cents versus 4 cents last time.
$36 million in cash on its balance sheet, Rare Element said it had
sufficient cash on hand to conduct its current exploration
and development plans through 2013.
Element's president and CEO Randall J. Scott will present at the
Dahlman Rose & Co. Rare Earth Elements Executive Forum in
New York on May 16. This presentation will be available for viewing via this link: http://wsw.com/webcast/dahlman12/ree/
the highlights of the company's plans, it continues to advance the Bear
Lodge Project in Wyoming during 2012 and into 2013
additional resource definition drilling to expand and upgrade the
resources at the Bull Hill, Whitetail Ridge, and Bull
Hill NW deposits.
Exploration drilling is also scheduled at the Bull Hill West, Carbon REE, Taylor REE, and other prospective REE targets
identified during the 2010 and 2011 exploration programs.
Rare Element will also start the formal National Environmental Policy Act EIS process in 2012 and begin the formal Land Quality
Division of the Wyoming Department of Environmental Quality permitting process in the second quarter of 2013.
The company anticipates completing a Definitive Feasibility Study by the middle of 2013.