Rare Element Resources LOI for Bear Lodge Project

Ticker: REEMF · Form: 8-K · Filed: Mar 4, 2024 · CIK: 1419806

Sentiment: neutral

Topics: joint-venture, strategic-investment, rare-earth-minerals

TL;DR

Rare Element Resources signs LOI for Bear Lodge project, potential JV/investment incoming.

AI Summary

Rare Element Resources Ltd. announced on March 4, 2024, that it has entered into a non-binding Letter of Intent with a strategic partner for its Bear Lodge Rare Earth Project in Wyoming. The LOI outlines potential terms for a joint venture or strategic investment, aiming to advance the project towards development.

Why It Matters

This non-binding agreement signals potential significant investment and partnership for the Bear Lodge project, which could accelerate its development and unlock substantial rare earth resources.

Risk Assessment

Risk Level: medium — The LOI is non-binding, meaning the definitive agreement is not guaranteed, and the terms are subject to change.

Key Players & Entities

FAQ

What is the primary purpose of the Letter of Intent (LOI) announced by Rare Element Resources Ltd. on March 4, 2024?

The LOI outlines potential terms for a joint venture or strategic investment with a partner for the Bear Lodge Rare Earth Project.

What is the status of the LOI between Rare Element Resources Ltd. and the strategic partner?

The LOI is non-binding, indicating that definitive agreements are yet to be finalized.

Where is the Bear Lodge Rare Earth Project located?

The Bear Lodge Rare Earth Project is located in Wyoming.

What type of rare earth elements is the Bear Lodge project focused on?

The filing does not specify the exact types of rare earth elements, but it is referred to as a 'Rare Earth Project'.

What are the next steps expected after this LOI for Rare Element Resources Ltd.?

The LOI is intended to advance discussions towards a definitive agreement for a joint venture or strategic investment to further develop the Bear Lodge project.

Filing Stats: 642 words · 3 min read · ~2 pages · Grade level 8.3 · Accepted 2024-03-04 17:26:22

Filing Documents

01 Regulation FD Disclosure

Item 7.01 Regulation FD Disclosure. On March 4, 2024, Rare Element Resources Ltd. (the "Company") issued a press release announcing a new mineral resource estimate for the Company's Bear Lodge rare earth elements project in Wyoming (the "Bear Lodge REE Project") and the publication of the S-K 1300 Technical Report Summary ("TRS") disclosing the mineral resources for the Bear Lodge REE Project. The TRS was completed by Alan C. Noble, P.E. Q.P., Monica Barrero Bouza, EurGeol, Q.P., and Jaye T. Pickarts, P.E. Q.P. (the "Qualified Persons"), in compliance with Item 1300 of Regulation S-K, with an effective date of February 29, 2024. A copy of the press release is furnished with this Current Report on Form 8-K as Exhibit 99.1 and is incorporated herein by reference. The information furnished under this Item 7.01, including Exhibit 99.1, is being furnished and shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that section, or incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.

01 Other Events

Item 8.01 Other Events. On March 4, 2024, the Company issued the TRS for the Bear Lodge REE Project. A copy of the TRS is attached as Exhibit 96.1.

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits. (d) Exhibits . Exhibit No. Description 23.1 Consent of Qualified Person – Ore Reserves Engineering. 23.2 Consent of Qualified Person – Monica Barrero Bouza. 23.3 Consent of Qualified Person – Jaye T. Pickarts. 96.1 Technical Report Summary for the Bear Lodge REE Project effective February 29, 2024. 99.1 Press Release dated March 4, 2024. 104 Cover Page Interactive Data File (formatted in Inline XBRL and included as Exhibit 101). SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Date: March 4, 2024 RARE ELEMENT RESOURCES LTD. By: /s/ Wayne E. Rich Name: Wayne E. Rich Title: Chief Financial Officer

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