RARE ELEMENT RESOURCES LTD (REEMF) Form 10-Q — Aug 4, 2026

$REEMFForm 10-QFiled Aug 4, 2026, 1:57 PM ET0001419806-26-000011Original filing

Rare Element Resources reported a Q2 2026 net loss of $2.758 million, widened from $1.180 million a year earlier, with six-month losses of $4.891 million versus $3.575 million, as exploration and evaluation spending more than doubled to fund the Demonstration Plant and Bear Lodge permitting. The pre-revenue rare earth developer generated no revenue during the period. The balance sheet was bolstered by the March 2026 rights offering, which raised $30.968 million gross ($30.478 million net) via 129,033,678 new shares at $0.24.

Key figures

Eps: -$0.01 for six months ended June 30, 2026; -$0.00 for Q2 2026 (basic and diluted)
Revenue: None — pre-revenue exploration stage company; no properties in production
Net Income: -$4.891M for the six months ended June 30, 2026 (vs. -$3.575M prior year); -$2.758M for Q2 2026 (vs. -$1.180M prior year)
Total Debt: None — no debt outstanding; total liabilities of $1.661M
Total Assets: $49.612M at June 30, 2026
Cash Position: $26.809M cash and cash equivalents plus $16.725M in short- and long-term investments at June 30, 2026
Shares Outstanding: 645368390
Wea Grant: $4.4M Wyoming Energy Authority grant fully received (final $400K received June 30, 2026)
Doe Commitment: ~$24.2M total; ~$20.5M paid through June 30, 2026; ~$3.7M remaining to be collected
Working Capital: $30.250M at June 30, 2026, up from $19.666M at December 31, 2025
Demo Plant Spend To Date: $62.183M expended through June 30, 2026
Operating Cash Burn6 M2026: $6.191M (vs. $3.537M in H1 2025)
Nd Pr Oxide Production Target: up to 10 tons during operations phase (up to 12 months)
Rights Offering Net Proceeds: $30.478M after $490K transaction costs
Demo Plant Total Cost Estimate: ~$82.0M through completion of operations phase (vs. $53.6M revised budget and $43.8M original budget)
Rights Offering Shares Issued: 129033678
Rights Offering Gross Proceeds: $30.968M (March 2026)
Rights Offering Price Per Share: $0.24
Exploration Evaluation Expense6 M2026: $4.697M (vs. $2.695M in H1 2025)

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