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August 7, 2014
07:02 EDTREERare Element reports Q2 EPS (6c) vs. (12c) last year
For accounting purposes, the Company is classified as an exploration stage company and, as such, does not have production-related revenues at this time. The key drivers behind the lower year-over-year expenses were primarily a decrease in exploration and evaluation expenses of $0.9M, the result of a shift to technical and economic evaluation with a related reduction in exploration expenses offset slightly by an increase in expenses for metallurgical and engineering test work, lower corporate administrative cost of $0.5M, primarily due to lower stock-based compensation expense, and a favorable variance in currency translation of $0.9M.
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