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Tuesday, September 21, 2021

Rare Earth (REE); the Story of Rare Element Resources (OTCMKTS: REEMF)

Rare Element Resources (OTCMKTS: REEMF) is making a powerful run up the charts in recent weeks from under $0.50 to recent highs over $2 per share. The stock has caught the attention of investors and is averaging $5 million plus in daily dollar volume emerging as a volume leader in small caps.

The big news on Rare Element Resources is the DOE award; on January 21 the Company said it received formal notice from the U.S. Department of Energy (“DoE”) that General Atomics, an affiliate of Synchron, the Company’s largest shareholder, along with Rare Element Resources, Inc. (“RER”), a wholly-owned subsidiary of the Company, have been selected to enter negotiations in relation to a financial award under the Critical Materials Funding Opportunity Announcement (“FOA”) for the engineering, construction and operation of a rare earth separation and processing demonstration plant.

Rare Element Resources (OTCMKTS: REEMF) is a publicly traded, strategic materials company focused on delivering rare earth products for technology, energy and defense applications by advancing the Bear Lodge Critical Rare Earth Project in northeast Wyoming. Bear Lodge is a significant mineralized district containing many of the less common, more valuable, critical rare earths that are essential for high-strength permanent magnets, electronics, fiber optics, laser systems for health and defense, as well as many technologies like electric vehicles, solar panels and wind turbines.

Late last year the Company provided an update on the pilot scale test work which is demonstrating its proprietary rare earth separation technology in studies being conducted by Umwelt-und Ingenieurtechnik GmbH Dresden (“UIT”). UIT is an affiliate of Synchron, a significant shareholder in the Company and a General Atomics affiliated company. Since February 2019, UIT has operated a hydrometallurgical pilot plant in Germany utilizing ore from the Company’s Bear Lodge Project in Wyoming. Using the Company’s enhanced proprietary technology, UIT operated the pilot plant designed to produce several products – a high-purity neodymium/praseodymium (Nd/Pr) oxide, lanthanum (La) oxide, and a mixed mid and heavy rare earth concentrate.

Rare Elements Bear Lodge Project is positioned to be the next North American source of rare earth minerals.  The quantity and quality of the resource at Bear Lodge make it a world-class mining district and a dependable, long-term source for the rare earths the world demands.  The project is rich in “critical rare earths” (CREE), those elements that are less common, higher valued and expected to experience better demand growth and price support over the long term.  It is situated in one of the best mining districts in the world.  The mine site is ideally located in northeastern Wyoming, just off of I-90, and has easy access to power and supporting infrastructure.  The processing facility will be located nearby, in the town of Upton, in an establish industrial area. Both communities contain a ready workforce, skilled in natural resource development.

In 2011, the US Geological Survey determined that the Bear Lodge Project contains one of the largest disseminated rare earth deposits in North America.  Extensive geological work by the Company since 2004, including drilling, geophysical and geochemical sampling and assaying, has resulted in a Measured & Indicated resource of 18 million tons grading 3.05% Total Rare Earth Oxide (TREO) at a 1.5% cutoff grade.  This includes 3.0 million tons of Measured and 15 million tons of Indicated resource.

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REEMF

On January 21 the Company reported it received formal notice from the U.S. Department of Energy (“DoE”) that General Atomics, an affiliate of Synchron, the Company’s largest shareholder, along with Rare Element Resources, Inc. (“RER”), a wholly-owned subsidiary of the Company, have been selected to enter negotiations in relation to a financial award under the Critical Materials Funding Opportunity Announcement (“FOA”) for the engineering, construction and operation of a rare earth separation and processing demonstration plant.

RER, along with partners General Atomics and affiliates, and LNV, an Ardurra Group, Inc. Company, as engineering and construction subcontractor, submitted a formal proposal to the DoE in response to a published FOA in mid-2020 for the construction and operation of a rare earth separation and processing plant utilizing proprietary technology to produce commercial grade products. The DoE funding represents one-half of the total estimated costs for the project and is contingent upon the negotiation of mutually agreeable documents which is expected to be completed within 60-90 days. The demonstration plant will process the already stockpiled high-grade ore from RER’s Wyoming Bear Lodge Project. The Company anticipates that, once funding is secured, the demonstration plant design will be finalized and followed by construction within a period of 18-24 months. Operations to process and separate rare earth elements from the stockpiled ore will follow for an additional 12-month period.

Randall Scott, President and CEO of the Company, stated, “We are very pleased that the Department of Energy has taken decisive action to advance a domestic rare earth supply chain through the Advanced Manufacturing Office’s funding initiatives and now has selected our team’s proposal as a critical materials large scale project. We stand ready to meet all the pre-award requirements to finalize the financial award within the coming weeks. Once this is completed, we will progress our team’s plans for the timely design, construction and operation of the plant, utilizing our proprietary technology.” Mr. Scott added, “This funding evidences the federal government’s commitment to secure an American supply chain as we face Chinese dominance in the rare earth market. The Company remains focused on being the next domestic rare earth producer, and the DoE funding will provide key support to advance this goal through this demonstration project.”

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Rare Element Resources is making a powerful run up the charts in recent weeks from under $0.50 to recent highs over $2 per share. The stock has caught the attention of investors and is averaging $5 million plus in daily dollar volume emerging as a volume leader in small caps. The big news on Rare Element Resources is the DOE award; on January 21 the Company said it received formal notice from the U.S. Department of Energy (“DoE”) that General Atomics, an affiliate of Synchron, the Company’s largest shareholder, along with Rare Element Resources, Inc. (“RER”), a wholly-owned subsidiary of the Company, have been selected to enter negotiations in relation to a financial award under the Critical Materials Funding Opportunity Announcement (“FOA”) for the engineering, construction and operation of a rare earth separation and processing demonstration plant. Rare Elements Bear Lodge Project is positioned to be the next North American source of rare earth minerals. In 2011, the US Geological Survey determined that the Bear Lodge Project contains one of the largest disseminated rare earth deposits in North America.  Extensive geological work by the Company since 2004, including drilling, geophysical and geochemical sampling and assaying, has resulted in a Measured & Indicated resource of 18 million tons grading 3.05% Total Rare Earth Oxide (TREO) at a 1.5% cutoff grade.  This includes 3.0 million tons of Measured and 15 million tons of Indicated resource. We will be updating on Rare Element Resources when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with Rare Element Resources .

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Disclosure: we hold no position in Rare Element Resources either long or short and we have not been compensated for this article.

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