Rare Element Resources
Bear Lodge Project
Canadian NI 43-101 Technical Report
October 9
th
, 2014
10135-200-46 - Rev. 0
19-12
continuing weak RE market conditions. For details of the $24.60 basket price used to
calculate reserves and resources, see Chapter 15 of this report.
19.5 Contracts
Rare Element has not yet entered into contracts for the sale of rare earth concentrate
or other products. However, the Company is engaged in multiple discussions with
potential customers and/or strategic alliance partners. The Company has produced a
quantity of its highly pure, mixed RE oxide concentrate as product samples during
pilot plant test programs, and several parties have received this material for testing
(mostly refiners with REE separation plants). This has elicited favorable responses
with respect to the quality and grade of the concentrate. The Company is continuing
its efforts to negotiate contractual arrangements with prospective off-takers and/or
partners with the goal of putting these in place prior to project construction.
