Update: Bear Lodge project progresses
Rare Element Resources (REE) is developing the Bear Lodge rare earth oxide (REO) project in Wyoming, US. Over the past two months, REE has revised up expected thorium-free REO product purities to 99.999%, published the positive results of its trenching exercise and provided an update on slight delays in the permitting process. Additional funding will be needed for the planned larger-scale demonstration plant. Our reworked dividend discount-based company valuation, at a 10% discount rate, is US$1.05/share (previously US$1.44/share). The lower valuation is a result of additional equity dilution based on both higher short-term funding needs of US$45-60m (as per the Q314 results) and a lower assumed equity issue price of US$0.50 per share used in our valuation. Project risk parameters should improve with better geological and process data.
Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisors and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.
.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.