Avalon Rare Metals Inc. announced unaudited consolidated earnings results for the first quarter ended November 30, 2014. For the quarter, the company reported revenue of CAD 15,415 compared to CAD 27,993 a year ago. Net loss and total comprehensive loss for the period was CAD 618,872 compared to CAD 2,249,813 a year ago. Cash used by operating activities was CAD 1,055,133 compared to CAD 1,555,255 a year ago. Invest in exploration and evaluation assets was CAD 569,212 compared to CAD 567,041 a year ago. Investment in property, plant and equipment was CAD 1,259,436 compared to CAD 3,002,329 a year ago. Loss per basic and diluted share was CAD 0.00 against CAD 0.02 a year ago.

For the quarter, the company reported impairment loss on exploration and evaluation assets of CAD 2,375 compared to CAD 21,309 a year ago.