Rare Element Resources Ltd (OTCQB: REEMF) is a rare earth elements exploration and development company advancing the Bear Lodge REE Project in Wyoming. The company generates no commercial revenue as of the fiscal year ended December 31, 2025, operating as a pre-revenue development-stage entity. Its primary activity is demonstrating the technical and economic feasibility of its proprietary rare earth elements processing and separation technology through operation of a Demonstration Plant. The company holds a patent portfolio of two issued U.S. patents, one pending U.S. divisional patent application, and fifteen issued foreign patents across thirteen foreign jurisdictions, covering selective recovery of rare earth elements and thorium separation processes. Rare Element licensed its intellectual property exclusively to its majority shareholder, Synchron, in October 2019, retaining only limited use rights. Synchron holds approximately 71% of outstanding common shares as of March 6, 2026, with 645,368,390 total common shares outstanding. The company is headquartered in Firestone, Colorado and trades on the OTCQB Venture Marketplace.

Revenue model

No commercial revenue as of fiscal year ended December 31, 2025. The company is pre-revenue, funded through capital raises. Its intellectual property is exclusively licensed to majority shareholder Synchron; the company retains only limited use rights with no disclosed royalty income from that license.

Products and services

Bear Lodge REE Project: a rare earth elements mineral property in Wyoming targeting total rare earth oxide (TREO) extraction, including neodymium-praseodymium (NdPr), lanthanum, dysprosium, and heavy rare earth element mixed oxides. Proprietary processing and separation technology covering selective recovery of REEs from mixed chloride leach solutions and thorium separation via solvent extraction, protected by patents filed with priority dates in 2013 and 2014. Demonstration Plant operated to generate feasibility data for potential commercial-scale production.

Customers and end markets

No commercial customers as of fiscal year ended December 31, 2025. Target end markets upon potential commercialization would be rare earth element consumers, consistent with disclosed demand for REE products including NdPr used in magnets and other applications, though no customer relationships are disclosed in the filing.

Value-chain role

Upstream rare earth elements explorer and technology developer. Positioned at the resource definition and processing technology demonstration stage, ahead of any mining, processing, or commercial supply activity. IP exclusively licensed to Synchron for development and commercialization.

Geographic exposure

United States. Bear Lodge REE Project and Demonstration Plant are located in Wyoming, subject to oversight by the U.S. Forest Service Bear Lodge Ranger District, Wyoming Department of Environmental Quality, and other federal and state agencies. Company headquarters is in Firestone, Colorado.

Source: SEC 10-K, filed 2026-03-12

Industry: Gold and Silver Ores Peers: American Battery Technology Co Ameritrust Corp Contango Silver & Gold Inc Graphene & Solar Technologies Ltd Idaho Strategic Resources Inc Liquidmetal Technologies Inc PureBase Corp Texas Mineral Resources Corp