RER completes funding for demo plant

Rare Element Resources (RER) announced this week that enough money has been raised through its rights offering of common shares to complete funding for the next stage of its rare earth project in northeast Wyoming.

The goal of the offering was to raise $25.4 million to complete the necessary funding for a demonstration plant in Upton that will process and separate rare earth elements from ore that was previously stockpiled at the Bear Lodge Project in Crook County. RER estimates that $25.4 million in gross proceeds were raised.

“The result is a major step forward for the company’s plans to con...