REEMF on OTC

RARE ELEMENT RESOURCES LTD

Rare Element was incorporated under the laws of the Province of British Columbia, Canada on June 3, 1999 as Spartacus Capital Inc.⁴ From its latest annual report

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Last updated Oct 19, 2026.

Overview

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TickerREEMF on OTC²
IndustryGold and Silver Ores²
HeadquartersVancouver, Canada²
Incorporated inBritish Columbia, Canada³
Business addressP.O. Box 271049, Littleton, Co 80127³
Filer categoryNon-accelerated filer, Smaller reporting company³
Legal formLimited²
LEI529900EXB32PBLVJKY49²
StatusActive²
LEI statusIssued and current²
Registered address3rd Floor, 510 Burrard St., V6C 3B9 Vancouver, Canada²
Registered withBC Registry Services, 897215927²

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Rare Element was incorporated under the laws of the Province of British Columbia, Canada on June 3, 1999 as Spartacus Capital Inc. We are currently governed under the Business Corporations Act (British Columbia) (the “BCBCA”). Our executive office address is P.O. Box 80, Firestone, Colorado 80520. The telephone number for our executive office is (720) 278-2460. We maintain a corporate website at www.rareelementresources.com .⁴ From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

-22.0%Return on equity⁵

Financial statements

Net income⁶⁷⁸⁹¹⁰⁵-$4.9M in 2025+224% since 2019

Every line of the income statement as filed: the last 2 fiscal years, latest first.⁵

Period ending	2025-12-31	2024-12-31
Exploration and evaluation (See Note 4 for related party costs)	-$2.9M	-$18.5M
Corporate administration	-$2.8M	-$2.7M
Depreciation and amortization	-$195.0K	-$155.0K
Total operating expenses	-$5.9M	-$21.3M
Interest income	$1.0M	$1.2M
Grant income		$2.0M
Accretion expense		-$236.0K
Interest expense	-$23.0K	-$32.0K
Loss on land repurchase		-$67.0K
Gain on sale of equipment		$2.0K
Gain on lease termination	$10.0K
Total non-operating income	$996.0K	$2.8M
Net income (loss)	-$4.9M	-$18.5M
Loss per share - basic (in dollars per share)	-$0.01	-$0.04
Loss per share - diluted (in dollars per share)	-$0.01	-$0.04
Weighted average number of shares outstanding - basic (in shares)	516.1M shares	498.1M shares
Weighted average number of shares outstanding - diluted (in shares)	516.1M shares	498.1M shares

Total assets⁶⁷⁸⁹¹⁰⁵$24.1M in 2025+279% since 2019

Total liabilities⁶⁷⁸⁹¹⁰⁵$1.8M in 2025+26% since 2019

Shareholders’ equity⁷⁸⁹¹⁰⁵$22.3M in 2025+354% since 2019

Cash⁶⁷⁸⁹¹⁰⁵$19.3M in 2025+241% since 2019

Every line of the balance sheet as filed: the last 3 fiscal years (annual) or 3 quarters (quarterly), latest first.⁵

Period ending	2025-12-31	2024-12-31	2023-12-31
Cash and cash equivalents	$19.3M	$26.7M
Due from related party (Note 4)	$1.6M
Prepaid expenses and other	$230.0K	$215.0K
Total Current Assets	$21.2M	$26.9M
Restricted cash	$202.0K	$195.0K
Right of use asset (Note 6)	$198.0K	$238.0K
Land	$2.2M	$2.2M
Total Assets	$24.1M	$29.7M
Accounts payable and accrued liabilities	$1.3M	$1.1M
Due to related party (Note 4)		$895.0K
Lease liability, current (Note 6)	$153.0K	$172.0K
Total Current Liabilities	$1.5M	$2.1M
Reclamation obligation	$185.0K	$185.0K
Lease liability, long-term (Note 6)	$61.0K	$98.0K
Other long-term liabilities	$92.0K	$92.0K
Total Liabilities	$1.8M	$2.5M
Common shares, no par value - unlimited shares authorized; shares outstanding at December 31, 2025 and December 31, 2024 of 516,134,712 and 516,111,557, respectively	$174.2M	$174.2M
Additional paid-in capital	$29.1M	$29.1M
Accumulated deficit	-$181.0M	-$176.1M
Total Shareholders' Equity	$22.3M	$27.2M	$8.4M
Total Liabilities and Shareholders' Equity	$24.1M	$29.7M
Common shares, par value	$0	$0
Common shares, outstanding	516.1M shares	516.1M shares

Period ending	2025-12-31	2024-12-31	2023-12-31
Cash and cash equivalents	$19.3M	$26.7M
Due from related party (Note 4)	$1.6M
Prepaid expenses and other	$230.0K	$215.0K
Total Current Assets	$21.2M	$26.9M
Restricted cash	$202.0K	$195.0K
Right of use asset (Note 6)	$198.0K	$238.0K
Land	$2.2M	$2.2M
Total Assets	$24.1M	$29.7M
Accounts payable and accrued liabilities	$1.3M	$1.1M
Due to related party (Note 4)		$895.0K
Lease liability, current (Note 6)	$153.0K	$172.0K
Total Current Liabilities	$1.5M	$2.1M
Reclamation obligation	$185.0K	$185.0K
Lease liability, long-term (Note 6)	$61.0K	$98.0K
Other long-term liabilities	$92.0K	$92.0K
Total Liabilities	$1.8M	$2.5M
Common shares, no par value - unlimited shares authorized; shares outstanding at December 31, 2025 and December 31, 2024 of 516,134,712 and 516,111,557, respectively	$174.2M	$174.2M
Additional paid-in capital	$29.1M	$29.1M
Accumulated deficit	-$181.0M	-$176.1M
Total Shareholders' Equity	$22.3M	$27.2M	$8.4M
Total Liabilities and Shareholders' Equity	$24.1M	$29.7M
Common shares, par value	$0	$0
Common shares, outstanding	516.1M shares	516.1M shares

Cash from operations⁶⁷⁸⁹¹⁰⁵-$7.1M in 2025+268% since 2019

Every line of the cash flow as filed: the last 3 fiscal years, latest first.⁵

Period ending	2025-12-31	2024-12-31	2021-12-31
Net loss	-$4.9M	-$18.5M
Depreciation and accretion expense	$33.0K	$249.0K
Right of use asset amortization	$162.0K	$142.0K
Stock-based compensation	$4.0K	-$38.0K
Reclamation obligation		$3.0K
Gain on lease termination	-$10.0K
Other	-$7.0K	$300.0K
Total adjustments to reconcile net loss to net cash used in operating activities	-$4.7M	-$17.8M
Due to (from) related party	-$2.5M	$4.3M
Grant collection		$2.0M
Prepaid expenses and other	-$8.0K	$210.0K
Accounts payable and accrued liabilities	$281.0K	$771.0K
Lease liability	-$168.0K	-$134.0K
Net cash used in operating activities	-$7.1M	-$10.6M
Proceeds from the sale of equipment		$12.0K
Purchase of equipment	-$289.0K	-$64.0K
Land purchase (Note 8)		-$1.5M
Net cash used in investing activities	-$289.0K	-$1.6M
Financing transaction, net		$35.3M	$25.4M
Net cash provided by financing activities		$35.3M
Net change in cash, cash equivalents and restricted cash	-$7.4M	$23.1M
Non-cash common shares issued in land repurchase (Note 8)		$1.9M

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Leadership

Who has led RARE ELEMENT RESOURCES LTD, and when. Pick a name to see everywhere that person has worked.

Chief executive

President

Chief financial officer

Chief operating officer

Jaye Thomas Pickarts2011–now

201520202025

Chief executive officerKenneth J. Mushinski May 1, 2024 to May 1, 2024¹³
Chief executive officerBrent Berg Nov 1, 2022 to Nov 1, 2022¹⁴
Chief executive officerDonald E. Ranta Jun 30, 2011 to Dec 6, 2011¹⁵
Chief executive officerRandall John Scott Dec 16, 2011 to Jan 7, 2022¹⁶
PresidentKenneth J. Mushinski May 1, 2024 to May 1, 2024¹³
PresidentBrent Berg Nov 1, 2022 to Nov 1, 2022¹⁴
PresidentDonald E. Ranta Jun 30, 2011 to Dec 6, 2011¹⁵
PresidentRandall John Scott Dec 16, 2011 to Jan 7, 2022¹⁶
Chief financial officerWayne Rich Mar 30, 2022 to Jan 6, 2023¹⁷
Chief financial officerPaul H. Zink Dec 17, 2013 to Jan 26, 2015¹⁸
Chief financial officerMark Thomas Brown Jun 30, 2011 to Jun 30, 2011¹⁹
Chief financial officerDavid P. Suleski Aug 24, 2011 to Dec 26, 2012²⁰
Chief operating officerJaye Thomas Pickarts Jun 30, 2011 to now²¹

Board members and other officers (24)

VP, C Adm O, Sec, Gen. CounselKelli C. Kast-Brown Dec 21, 2012 to Dec 19, 2013²²
VP, Govt & Community RelationsGeorge G. Byers Jun 30, 2011 to Jan 26, 2015²³
Corporate SecretaryWinnie Sze Wan Wong Jun 30, 2011 to Dec 6, 2011²⁴
Board memberCraig S. Bartels Apr 5, 2024 to Apr 5, 2024²⁵
Board memberPamela L. Saxton Aug 26, 2024 to Aug 26, 2024²⁶
Board memberPaul Joseph Hickey Aug 22, 2023 to now²⁷
Board memberNicole J. Champine Apr 4, 2022 to Apr 4, 2022²⁸
Board memberKelli C. Kast-Brown Aug 24, 2022 to Jan 6, 2023²⁹
Board memberBarton S. Brundage Dec 27, 2019 to Dec 27, 2019³⁰
Board memberDavid I. Roberts Nov 27, 2017 to Nov 27, 2017³¹
Board memberKenneth J. Mushinski Nov 27, 2017 to May 1, 2024³²
Board memberPatrick M. James Apr 28, 2014 to Jun 13, 2014³³
Board memberLowell A. Shonk Apr 25, 2013 to Jun 22, 2023³⁴
Board memberGerald W. Grandey Aug 5, 2013 to now³⁵
Board memberFrank Steven Mooney Oct 18, 2013 to Feb 20, 2019³⁶
Board memberPaul H. Zink Feb 9, 2012 to Dec 21, 2012³⁷
Board memberRandall John Scott Dec 21, 2012 to Jan 7, 2022³⁸
Board memberDonald E. Ranta Jun 30, 2011 to Jan 2, 2014¹⁵
Board memberGregory Ellis McKelvey Jun 30, 2011 to Dec 27, 2012³⁹
Board memberMark Thomas Brown Jun 30, 2011 to Dec 21, 2012¹⁹
Board memberMyles Norman Anderson Jun 30, 2011 to Dec 14, 2016⁴⁰
Board memberNorman William Burmeister Jun 30, 2011 to Jan 3, 2017⁴¹
Board memberStephen Paul Quin Jun 30, 2011 to Jul 22, 2011⁴²
Board memberPaul John Schlauch Jul 8, 2011 to Apr 18, 2022⁴³

Timeline

May 1, 2024New chief executive Kenneth J. Mushinski becomes CEO¹³
Nov 1, 2022New chief executive Brent Berg becomes CEO¹⁴
Dec 16, 2011New chief executive Randall John Scott becomes CEO¹⁶
Jun 30, 2011New chief executive Donald E. Ranta becomes CEO¹⁵
Jun 4, 2003Founded RARE ELEMENT RESOURCES LTD is founded²

Filings

137 filings to the SEC since October 2021: 6 annual reports, 15 quarterly reports, 29 major events, 43 insider forms, 4 large holders, 40 other. The latest 20:

Oct 5, 20263 OWNERSHIP DOCUMENT EDGAR
Sep 14, 20268-K EDGAR
Aug 28, 20268-K EDGAR
Aug 4, 202610-Q EDGAR
Jul 13, 2026DEFA14A EDGAR
Jul 13, 2026DEF 14A EDGAR
May 13, 202610-Q EDGAR
Mar 23, 20264 EDGAR
Mar 13, 20264 EDGAR
Mar 13, 2026SCHEDULE 13D/A EDGAR
Mar 13, 20264/A OWNERSHIP DOCUMENT EDGAR
Mar 13, 20264/A OWNERSHIP DOCUMENT EDGAR
Mar 12, 202610-K EDGAR
Mar 6, 20264 OWNERSHIP DOCUMENT EDGAR
Mar 6, 20264 OWNERSHIP DOCUMENT EDGAR
Feb 6, 20268-K EDGAR
Feb 6, 2026424B5 EDGAR
Jan 6, 20268-K EDGAR
Nov 5, 202510-Q EDGAR
Sep 12, 20258-K EDGAR

The 137 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

8 open-market trades by officers, directors and large owners since October 2021: 3 buys and 5 sales. Grants, option exercises and gifts are left out.

Date	Who	Trade	Shares	Price	Value	Filing
Mar 10, 2026	Tenaya Corp10% owner	Buy	100,149,060	$24,035,774.40	$2,407.2T	Form 4
Mar 10, 2026	BLUE JAMES N10% owner	Buy	100,149,060	$24,035,774.40	$2,407.2T	Form 4
Mar 15, 2024	Synchron10% owner	Buy	244,383,591	$29,326,030.00	$7,166.8T	Form 4
Dec 2, 2021	Scott Randall JohnPresident and CEO	Sale	250,000	$1.03	$257.5K	Form 4
Nov 19, 2021	Scott Randall JohnPresident and CEO	Sale	100,000	$0.91	$91.0K	Form 4
Nov 18, 2021	Scott Randall JohnPresident and CEO	Sale	50,000	$1.08	$54.0K	Form 4
Nov 17, 2021	Scott Randall JohnPresident and CEO	Sale	100,000	$1.20	$120.0K	Form 4
Nov 15, 2021	Scott Randall JohnPresident and CEO	Sale	100,000	$1.38	$138.0K	Form 4

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

James N. BlueSCHEDULE 13D/A, 1 filing Mar 13, 2026⁴⁴
SynchronSC 13D/A, 3 filings Dec 23, 2021 to Jun 28, 2024⁴⁵

Sources

The numbers on this page point here. Each one links to the record it came from.

1
SEC EDGARRARE ELEMENT RESOURCES LTD filings on SEC EDGAR
2
GLEIFRARE ELEMENT RESOURCES LTD LEI record (529900EXB32PBLVJKY49)
3
SEC EDGARRARE ELEMENT RESOURCES LTD filings on SEC EDGAR
4
SEC EDGARRARE ELEMENT RESOURCES LTD annual report, Item 1 (Business)
5
SEC EDGARRARE ELEMENT RESOURCES LTD 10-K for fiscal 2025
6
SEC EDGARRARE ELEMENT RESOURCES LTD 10-K for fiscal 2019
7
SEC EDGARRARE ELEMENT RESOURCES LTD 10-K for fiscal 2020
8
SEC EDGARRARE ELEMENT RESOURCES LTD 10-K for fiscal 2021
9
SEC EDGARRARE ELEMENT RESOURCES LTD 10-K for fiscal 2022
10
SEC EDGARRARE ELEMENT RESOURCES LTD 10-K for fiscal 2023
11
SEC EDGARRARE ELEMENT RESOURCES LTD 10-Q for fiscal 2026
12
SEC EDGARRARE ELEMENT RESOURCES LTD 10-Q for fiscal 2026
13
SEC EDGARKenneth J. Mushinski, Chief executive officer
14
SEC EDGARBrent Berg, Chief executive officer
15
SEC EDGARDonald E. Ranta, Chief executive officer
16
SEC EDGARRandall John Scott, Chief executive officer
17
SEC EDGARWayne Rich, Chief financial officer
18
SEC EDGARPaul H. Zink, Chief financial officer
19
SEC EDGARMark Thomas Brown, Chief financial officer
20
SEC EDGARDavid P. Suleski, Chief financial officer
21
SEC EDGARJaye Thomas Pickarts, Chief operating officer
22
SEC EDGARKelli C. Kast-Brown, VP, C Adm O, Sec, Gen. Counsel
23
SEC EDGARGeorge G. Byers, VP, Govt & Community Relations
24
SEC EDGARWinnie Sze Wan Wong, Corporate Secretary
25
SEC EDGARCraig S. Bartels, Board member
26
SEC EDGARPamela L. Saxton, Board member
27
SEC EDGARPaul Joseph Hickey, Board member
28
SEC EDGARNicole J. Champine, Board member
29
SEC EDGARKelli C. Kast-Brown, Board member
30
SEC EDGARBarton S. Brundage, Board member
31
SEC EDGARDavid I. Roberts, Board member
32
SEC EDGARKenneth J. Mushinski, Board member
33
SEC EDGARPatrick M. James, Board member
34
SEC EDGARLowell A. Shonk, Board member
35
SEC EDGARGerald W. Grandey, Board member
36
SEC EDGARFrank Steven Mooney, Board member
37
SEC EDGARPaul H. Zink, Board member
38
SEC EDGARRandall John Scott, Board member
39
SEC EDGARGregory Ellis McKelvey, Board member
40
SEC EDGARMyles Norman Anderson, Board member
41
SEC EDGARNorman William Burmeister, Board member
42
SEC EDGARStephen Paul Quin, Board member
43
SEC EDGARPaul John Schlauch, Board member
44
SEC EDGARJames N. Blue SCHEDULE 13D/A on RARE ELEMENT RESOURCES LTD
45
SEC EDGARSynchron SC 13D/A on RARE ELEMENT RESOURCES LTD