Rare Earths Americas, Inc. reported a net loss of $16.8 million for the quarter ended March 31, 2026, reflecting its exploration-stage status and sizeable non-cash fair value charges. Operating expenses rose to $4.8 million, driven by higher exploration and general and administrative costs after acquiring U.S. and Brazilian projects.
Non-cash losses from remeasuring the SAFE liability and warrant liability totaled about $12.1 million, significantly increasing the quarterly loss. The company ended the quarter with $20.4 million in cash and cash equivalents and current assets exceeding current liabilities. Subsequent to quarter-end, it completed an IPO raising roughly $64.2 million gross and converted all SAFEs and a related-party loan into common stock. Management disclosed ongoing material weaknesses in internal controls and outlined a remediation plan involving added personnel, enhanced processes, and third-party support.
Whitehaven Coal Limited and affiliates filed a Schedule 13D reporting a strategic stake in Rare Earths Americas, Inc. Through A.C.N. 664 400 382 Pty Ltd, they beneficially own 1,672,478 shares of common stock, representing 8.4% of the company’s outstanding 19,907,282 shares as of June 3, 2026.
The position was built via multiple transactions, including share purchases before and concurrent with the IPO and the conversion of a Simple Agreement for Future Equity. The investors describe the holding as a strategic investment and indicate they may buy more, sell, or engage with management and the board on business, strategy, governance and capital structure.
Rare Earths Americas, Inc. Schedule 13G filing reports that Kitabella Pty Ltd, together with Kirk Kileff and Sarah-Anne Kileff, beneficially own 1,100,393 shares of Common Stock, representing 5.5% of the class as reported on 05/07/2026.
The filing states the reported securities are held directly by Kitabella as trustee for the Kitabella Trust and indirectly by Kirk and Sarah-Anne Kileff (each 50% owners of Kitabella), with shared voting and dispositive power over the reported shares.
Rare Earths Americas director Daniel Shribman received a grant of 6,610 restricted stock units (RSUs). These RSUs are a form of equity compensation that can convert into up to 6,610 shares of REA common stock, with no cash paid by the director for the grant.
The RSUs will vest on the earlier of one year from the grant date or the day before REA's 2027 annual meeting, provided Shribman continues his service with the company. After this award, he holds 6,610 RSUs directly, reflecting a routine compensation-related equity grant rather than an open-market share purchase or sale.