Rare Element Resources
Bear Lodge Project
Canadian NI 43-101 Technical Report
October 9
th
, 2014
10135-200-46 - Rev. 0
15-3
Table 15.1 - Economic Parameters for Pit Optimization
REO Prices
REO
US $/lb.
US $/kg
Ce
2
O
3
2.87
6.33
Dy
2
O
3
338.64
746.56
Er
2
O
3
21.42
47.21
Eu
2
O
3
379.35
836.33
Gd
2
O
3
15.82
34.88
La
2
O
3
2.50
5.51
Nd
2
O
3
24.04
53.00
Pr
2
O
3
34.93
77.02
Sm
2
O
3
3.06
6.75
Tb
2
O
3
254.55
561.17
Y
2
O
3
8.31
18.32
REO Recoveries
Pit / Ore Type
% Recovery
Bull Hill Oxide
76-82
Bull Hill OxCa
79-90
Whitetail All
69-74
Costs
Cost Type
$/ton
Basis
Mining
4.50
per ton mined
Incremental Haulage
0.01
per ton mined*
Mine Sustaining Capital
0.40
per ton mined
Stockpile Reclamation
1.10
per ton of crusher feed
Crushing/Screening
11.99
per ton of crusher feed
Physical Upgrade Plant
18.20
per ton of PUG feed
Highway Transport
11.26
per ton of Hydromet feed
Hydrometallurgical Plant
364.00
per ton of Hydromet feed
General & Admin
27.25
per ton of Hydromet feed
* Per 10-ft bench below 6010 elevation
(Rare Element, 2014)
Ten slope sectors were defined by a geotechnical analysis performed by Sierra
Geotechnical in a report dated December 6, 2013. The first five sectors pertain to the
Bull Hill (southeastern) portion of the deposit and four apply to the Whitetail
