Texas Rare Earth Resources Corp.
Climate Impact & Sustainability Data (2013-08-31)
Reporting Period: 2013-08-31
Environmental Metrics
Social Achievements
- Supported the Southwest Wildlife and Range Foundation through an annual payment of $45,000 for ten years to support conservation efforts within the Rio Grande Basin.
Climate Goals & Targets
Short-term Goals:
- Complete updated Preliminary Economic Assessment before the end of calendar year 2013.
Environmental Challenges
- History of losses and need for additional financing.
- Limited operating history.
- All properties in the exploration stage.
- Lack of history in producing metals from properties.
- Need for additional financing to develop a producing mine.
- Risks associated with exploration activities not being commercially successful.
- Increased costs affecting financial condition.
- Shortage of equipment and supplies adversely affecting ability to operate.
- Inherently hazardous nature of mining related activities.
- Uncertainty of mineralized material estimates.
- Risks related to fluctuations in the price of rare earth minerals.
- Potential effects on operations of environmental regulations.
- Uncertainty of being able to raise capital on favorable terms or at all.
- Risks related to competition in the mining and rare earth elements industries.
- Risks related to economic conditions.
- Risks related to ability to manage growth.
- Risks related to potential difficulty of attracting and retaining qualified personnel.
- Risks related to dependence on key personnel.
- Risks related to SEC filing history.
- Risks related to securities.
- Highly volatile stock price.
- Limited, sporadic, and volatile market for common stock.
- Permitting, licensing, and approval processes.
- Governmental and environmental regulations.
- Potential environmental lawsuits.
- Burdensome and expensive land reclamation requirements.
- Potential health risks associated with rare earth and beryllium mining.
- Challenges to title of mineral properties.
- Increased competition.
- Current economic conditions and capital market instability.
- Insufficient resources to manage expected growth.
Mitigation Strategies
- Reduced staff, closed Denver office, and reduced costs to avoid raising additional capital.
- Exploring options for additional financing (e.g., joint ventures, sale of assets).
- Metallurgical testing and flow sheet development.
- Additional geologic and resource modeling.
- Compliance with state governmental agencies.
- Purchase of surface lease at Round Top Project for unrestricted access.
- Ongoing metallurgical research to develop efficient extraction processes.
- Evaluating smaller scale operations to reduce capital costs.
- Minimizing process risks by simplifying processes.
- Examining the feasibility of producing a concentrate.
- Minimizing environmental impacts (e.g., minimum water use, maximum recovery rates).