Craig S. Bartels
About Craig S. Bartels
Craig S. Bartels, 77, joined Rare Element Resources Ltd.’s Board on April 4, 2024 as a director designee of Synchron; he brings 50+ years in hydrocarbon, mineral extraction and processing, with a B.S. in Petroleum Engineering from the Montana School of Mines (1972) and deep expertise in in‑situ recovery (ISR) uranium technology . He currently serves as President & CEO of General Atomics Uranium Resources LLC (since May 2024; previously SVP & COO Nov 2022–May 2024), and is not considered independent due to employment with an affiliate of Synchron, the Company’s majority shareholder .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Heathgate Resources Pty Ltd (GA affiliate) | President | Jun 2010–Oct 2022 | Led ISR uranium operations; director since 2010 |
| Uranium Resources, Inc. / HRI, Inc. | SVP Technology; VP Operations – In Situ; President of HRI, Inc. | Dec 2004–Jun 2010 (SVP Tech Nov 2008–Jun 2010; VP Ops Feb 2007–Nov 2008; HRI President Dec 2004–Jan 2007) | Leadership in ISR optimization globally |
External Roles
| Organization | Role | Type | Tenure | Notes |
|---|---|---|---|---|
| General Atomics Uranium Resources LLC | President & CEO | Affiliate of Synchron / GA | May 2024–present | Oversees multiple GA‑affiliated uranium entities |
| Heathgate Resources Pty Ltd | Director | Private (Australia) | 2010–present | Former President; GA affiliate |
| General Atomics Energy Services, Inc. | Executive leadership exposure | Private | Ongoing | GAES is a partner in ConverDyn |
Board Governance
| Item | Details |
|---|---|
| Committee memberships | Nominating, Corporate Governance & Compensation (NCG&C) Committee member; current NCG&C members: Nicole J. Champine (Chair), Craig S. Bartels, Paul J. Hickey, Pamela L. Saxton; NCG&C met 5 times in FY2024 |
| Committee chair roles | None (NCG&C chaired by Nicole J. Champine) |
| Audit Committee | Not a member; Audit Committee consists of Barton S. Brundage (Chair), Gerald W. Grandey, Pamela L. Saxton |
| Independence status | Not independent due to employment with an affiliate of Synchron (majority shareholder) |
| Board independence | Board of seven with two independent directors (Grandey, Saxton); Board not majority independent |
| Attendance | In FY2024, 11 Board meetings were held; no incumbent director attended fewer than 75% of meetings eligible to attend |
| Years of service | Director since April 4, 2024; all incumbents standing for re‑election at the 2025 meeting |
| Lead independent role | Independent Chairman of the Board: Gerald W. Grandey |
| Executive sessions | Two executive sessions of independent directors held since the beginning of FY2024 |
Fixed Compensation
| Component (FY2024) | Amount ($) |
|---|---|
| Annual retainer (cash) | 0 (Synchron designees elected not to receive director compensation) |
| Committee membership fees | 0 |
| Committee chair fees | 0 |
| Meeting fees | 0 |
| Option/stock awards (director) | 0 |
| Total | 0 |
Context: FY2024 director compensation schedule for non‑Synchron designees—Non‑employee director: $55,500; Board Chair: $81,500; Audit Chair: $67,500; NCG&C Chair: $67,500; paid quarterly pro‑rata .
Performance Compensation
| Metric/Instrument | Grant Date | Quantity/Terms | Vesting | Notes |
|---|---|---|---|---|
| Equity awards (RSUs/PSUs/options) | None | None | N/A | Synchron designees, including Bartels, elected not to receive stock options |
| Performance metrics tied to director pay | N/A | N/A | N/A | No director performance metrics disclosed |
Other Directorships & Interlocks
| Company | Role | Public/Private | Tenure | Notes |
|---|---|---|---|---|
| None disclosed (public company boards) | — | — | — | Only Mushinski (Anfield Energy Inc.) and Saxton (Bunker Hill Mining Corp.) disclosed as current public company directors; none for Bartels |
| Synchron/GA interlock | Director designee of Synchron; employed by GA affiliate | Private | Ongoing | Synchron holds 69.9% of REEMF and can designate three directors (Bartels, Champine, Brundage) |
Expertise & Qualifications
- 50+ years across hydrocarbon and mineral extraction; recognized leadership in ISR uranium technology and mineral recoveries .
- Executive operations experience (President & CEO; SVP & COO) spanning GA uranium affiliates and Heathgate in Australia .
- Petroleum Engineering B.S., Montana School of Mines (1972) .
Equity Ownership
| Metric | Value |
|---|---|
| Beneficial ownership (REEMF common) | Nil; percent of class less than 1% (excludes Synchron’s holdings) |
| Shares outstanding (record date) | 516,134,712 (as of July 16, 2025) |
| Options/derivatives (director) | None (no director options accepted by Synchron designees) |
| Pledged/hedged shares | Not disclosed |
Governance Assessment
- Independence and designation: Bartels is a Synchron designee and not independent due to employment with a Synchron affiliate; Synchron controls 69.9% and has the right to designate three directors, materially shaping board composition .
- Committee composition: Bartels sits on the NCG&C Committee, which has a majority of non‑independent members; Audit Committee has a majority of independent directors .
- Related-party exposure: The Company maintains a Cost Share Agreement and pending amendment with General Atomics (Synchron affiliate), a related‑party arrangement requiring heightened oversight; Audit Committee reviews related‑party transactions ≥$120,000 .
- Engagement: No director fell below 75% attendance in 2024; independent Chairman structure and executive sessions support independent oversight despite non‑majority independent board .
- Compensation alignment: As a Synchron designee, Bartels elected not to receive any director cash compensation or stock options in 2024 .
RED FLAGS
- Not independent; director designee of majority shareholder (Synchron) .
- Board not majority independent (2 of 7 independent), with NCG&C majority non‑independent .
- Active related‑party arrangements with General Atomics (Synchron affiliate) for project funding/cost share .