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I think I found the answer, it sounds like even if they die you are granted a mount the next session, so it only makes sense that rearing would work the same way, biggest difference is need to retrain new tricks.
How is the replacement of a dead familiar, animal companion or paladin’s or cavalier's mount handled?
If you lose a companion during the course of a scenario, work with your GM for that scenario to properly note the loss on your Chronicle sheet. You should also note that you’ve gained your new companion. The new companion is ready for play in the next scenario after your previous companion died. Newly summoned animal companions begin play knowing a number of tricks equal to the bonus tricks granted based on your druid level. All other tricks require the use of Handle Animal to train the new animal companion as normal.