66
RARE ELEMENT RESOURCES LTD.
CONSOLIDATED STATEMENTS OF CASH FLOWS
(Expressed in thousands of U.S. Dollars)
For the fiscal year ended
June 30,
2012
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss for the period
$ (34,994)
Adjustments to reconcile loss for the period to net cash and cash
equivalents used in operations:
Depreciation
123
Asset retirement obligation
334
Unrealized (gain)/loss on derivatives
(35)
Write-down of mineral property
1,874
Loss on currency translation
(33)
Loss on disposal of marketable securities
11
Stock-based compensation
10,757
(21,963)
Changes in working capital
Accounts receivable
(183)
Interest receivable
109
Prepaid expenses
113
Accounts payable and accrued liabilities
1,036
Due to related party
(74)
Net cash and cash equivalents used in operating activities
(20,961)
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of short-term investments
(14,633)
Purchases of equipment
(575)
Proceeds from sale of marketable securities
114
Net cash and cash equivalents used in investing activities
(15,094)
CASH FLOWS FROM FINANCING ACTIVITIES:
Cash received for common shares, net of share issuance costs
773
Net cash and cash equivalents provided by financing activities
773
Increase/(decrease) in cash and cash equivalents
(35,282)
Cash and cash equivalents - beginning of the period
72,312
Cash and cash equivalents - end of the period
$ 37,030
See accompanying notes to consolidated financial statements.
