Looking at the filing, I need to find the exchange and ticker. The cover page states "Securities registered pursuant to Section 12(b) of the Act: None" - so there is no exchange/ticker listed on the cover page of this 10-Q. The reference ticker is OTC:REEMF but I cannot confirm this from the filing text itself, so I will not state a ticker/exchange per SOURCE-FIDELITY RULE 4. Now let me assess the substantive disclosure content. The filing contains financial statements, MD&A, and other substantive content referenced in the table of contents, though the extracted text cuts off. The cover page and forward-looking statements section alone contain substantive disclosure about the Demonstration Plant, DoE funding, General Atomics/Synchron relationship, Bear Lodge REE Project, and share count. This exceeds 150 words of substantive content.

Rare Element Resources Ltd. filed its quarterly report on Form 10-Q for the period ended September 30, 2026, disclosing operational and financial information as of that date, with 645,368,390 common shares outstanding as of October 30, 2026.

Key Highlights

  • Share count: The company reported 645,368,390 common shares outstanding as of October 30, 2026.
  • No securities registered under Section 12(b): According to the filing, securities registered pursuant to Section 12(b) of the Act are listed as "None."
  • Filer classification: The registrant identified itself as a non-accelerated filer and a smaller reporting company, and not an emerging growth company.
  • Majority shareholder: The filing identifies Synchron as the company's majority shareholder, described as an affiliate of General Atomics.
  • DoE funding relationship: The filing discloses that the company is pursuing a novation of its Demonstration Plant funding agreement with the Department of Energy and aims to replace General Atomics as the prime contractor.
  • Bear Lodge REE Project: The company disclosed ongoing plans and strategies relating to licensing, permitting, and advancement of the Bear Lodge REE Project.
  • Sundance Gold Project: According to the filing, the Sundance Gold Project is described as "remaining on hold for the foreseeable future."

Rare Element Resources Discloses Demonstration Plant Status and Funding Structure for September 2026 Quarter

Rare Element Resources Ltd., incorporated in British Columbia and headquartered in Firestone, Colorado, filed its Form 10-Q for the quarterly period ended September 30, 2026. The filing was submitted with commission file number 001-34852. All amounts in the report are expressed in thousands of United States dollars, and financial information is presented in accordance with U.S. GAAP, according to the filing.

The filing identifies several forward-looking areas of focus, which the company cautions are subject to known and unknown risks. Among the disclosures, the company described its ability to operate the Demonstration Plant, secure remaining Department of Energy funding through the Cost Share Agreement, and potentially complete a novation of the Demonstration Plant funding agreement with the DoE to replace General Atomics as the prime contractor. The filing noted that General Atomics' affiliate, Synchron, is the company's majority shareholder. The company stated that its ability to secure an amendment to the Cost Share Agreement with General Atomics, "if required," is among the forward-looking considerations subject to uncertainty.

The filing also referenced longer-term plans, including the potential development of a commercial mine and plant for sourcing, processing, and separation of rare earth elements, which the company described as contingent on securing further funding. The Bear Lodge REE Project remains in a licensing and permitting phase according to the disclosure, while the Sundance Gold Project is described as "remaining on hold for the foreseeable future." The company confirmed it had filed all required reports during the preceding 12 months and had submitted all required Interactive Data Files electronically.

What Was Disclosed

Rare Element Resources Ltd. filed a Form 10-Q for the quarter ended September 30, 2026, reporting 645,368,390 shares outstanding as of October 30, 2026, and disclosing its Demonstration Plant operations, DoE funding structure, Bear Lodge REE Project status, and majority shareholder relationship with Synchron, an affiliate of General Atomics.