American Rare Earths (ASX:ARR) secured the first reimbursement of over AU$450,000 from the Wyoming Energy Authority grant for the Cowboy State mine at the Halleck Creek project, according to a Tuesday filing with the Australian bourse.

The mining firm secured AU$10.7 million in grant funding for the project to conduct exploration drilling, baseline environmental studies, and pre-feasibility assessments, the filing said.

The company's shares closed down almost 2% on Tuesday.

Price (AUD): $0.28, Change: $-0.0050, Percent Change: -1.79%