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Yup. Wash. Rinse. Repeat.
Well done!
You know I always come back for more.
I’ll take that double digit gain and wait in line for another ride. Thanks!
Almost gone again.
AREC never disappoints
Less than $2 million in sales for Q2! Is that a typo?
Upcoming 2nd qtr results must be terrible. Those in the know are dumping.
American Resources Corp NASDAQ: AREC
GoSymbol lookup
Energy : Oil, Gas & Consumable Fuels | Small Cap GrowthCompany profile
American Resources Corporation is a supplier of high raw materials to the new infrastructure market. The Company is focused on the extraction and processing of metallurgical carbon, an essential ingredient used in steelmaking, critical and rare earth minerals for the electrification market, and reprocessed metal to be recycled. It has a portfolio of operations located in the Central Appalachian basin of eastern Kentucky and southern West Virginia. Its subsidiaries include American Carbon Corp. American Carbon Corp has seven coal mining and processing operating subsidiaries: McCoy Elkhorn Coal LLC, Knott County Coal LLC, Deane Mining, LLC (Deane Mining), Wyoming County Coal LLC (Wyoming County), Quest Processing LLC (Quest Processing), Perry County Resources, located in eastern Kentucky and western West Virginia within the Central Appalachian coal basin, and ERC Mining Indiana Corporation (ERC) located in southwest Indiana within the Illinois coal basin.
Based on today’s close I expect the 1st qtr results to be a real clunker. They’ll miss revenue expectations and have a greater loss than expected. With this company it’s always better to take the under.
Absolutely getting back in for another trip to the ATM!!!!
How you holding up Randy?
I pray all is well with you and your.
Thoughts on the recent filings?
Looking tasty, thoughts?
I also took another trip to the ATM. See you at the next dip.
I am also loading up at the current price level.
While Jensen is vacationing in Africa, this was posted yesterday.
A quarter of all cobalt used in Apple products came from recycled material in 2022, up from 13% a year earlier, Apple said.
How much of that recycled cobalt came from AREC? Zero.
$1.30 could be the high for the rest of the year.
Let someone have a bit.
I’m keeping some green!
Very good loading day.
I never thought I’d see these low prices.
Watch!
Loading! $1.30 for this just feels good.
Guess who is back with a great position!?!?!
Yehaww
This Always pays!
Time for another trip to the ATM. See you at the next dip.
Looking bullish this morning. Regular hours will tell story. Might get that weekly bullish candle.
Highlights?
“For the fourth quarter of 2022, American Resources reported net income of $9.5 million, or $0.14 per share, as compared with a net income loss of $10.4 million, or a loss of $0.17 per share, in the prior year period. The Company earned adjusted EBITDA of $11.4 million in the fourth quarter of 2022, as compared with an adjusted EBITDA loss of $6.8 million for the fourth quarter of 2021.”
400% increase in revenue composed to last 4th Q.
Fourth Quarter Release: American Resources Corporation Reports Fourth Quarter and Record Full Year 2022 Financial Results and Provides Business Outlook
2022 revenues increased over 400% vs. 2021 and carbon operations continue to scale
The first domestic, commercial producer of separated and high-purity REEs from recycled permanent magnets and high-purity battery elements from recycled lithium-based batteries
Company's patented chromatographic separation and purification process defining itself as the world-leading critical mineral refining technology
Strong balance sheet provides financial strength and flexibility to execute on its innovation, collaboration and growth plans
Company to host update conference call today at 4:30 PM ET
FISHERS, IN / ACCESSWIRE / March 30, 2023 / American Resources Corporation (NASDAQ:AREC) ("American Resources" or the "Company"), a next generation and socially responsible supplier of rare earth and critical elements, carbon and advanced carbon materials to the new infrastructure and electrification marketplace, today announced financial results for the fourth quarter and full year ended December 31, 2022. The Company will host a conference call and webcast, today, March 30, 2023, at 4:30 PM ET (details below).
Mark Jensen, Chairman and CEO of American Resources Corporation commented, "Throughout 2022 we further established our pillars of growth and have uniquely positioned our businesses to capitalize on defined growth opportunities across the markets we serve. We believe the past year, where we realized record revenues, marks an exciting inflection point in our transformational evolution as a Company. Our American Carbon division is uniquely positioned to provide incremental metallurgical carbon to a supply constrained global steel market, with a relatively much lower capital cost, given the assets we own and the restructuring we have already completed. ReElement Technologies has become the most exciting entity we have ever been a part of as it establishes itself as a world-leading critical mineral refining technology. The critical and rare earth elements we refine are imperative to operate our modern-day technology including electric vehicles, clean energy and defense applications. ReElement's patented chromatographic separation and purification technology addresses the biggest bottleneck within our domestic and global supply chain. We believe our proven ability to sustainability produce ultra-pure critical mineral products in a smaller, cleaner and lower cost footprint while having the ability to be highly flexible to the feedstocks we refine is revolutionary not only for the U.S., but for the entire planet. Lastly, our American Metals division is a platform which has ample opportunity to leverage ReElement's refining capabilities by diversifying into other metals and feedstocks to process, including battery material processing and recycling. In retrospect, we have achieved some very material milestones over the past two years since announcing our ReElement division, and we continue to focus on timely execution to solidify our strategic positioning within the value chain."
2022 Key Division Highlights
ReElement Technologies
Achieved groundbreaking success as the first in the United States to produce greater than 99.5% pure rare earth elements [dysprosium (Dy), neodymium (Nd) and praseodymium (Pr)] and 99.9% pure lithium at commercial scale, in isolated forms and from sustainable sources including end-of-life permanent magnets and lithium-based batteries.
Continued to buildout a best-in-class team to drive operations expertise and strategic vision including Director of R&D Dr. Yi Ding, COO, Jeff Peterson, CCO, Chris Moorman, Technical Advisor and Director of Engineering, Bill Smith and Director, Bob Galyen.
Established the first domestic, critical mineral, advanced refining facility in Noblesville, Indiana focused on sustainability and circular supply chain, and has paved the way with site selection, design, engineering and initial development of its large scale, high capacity refining facility.
Established partnerships with two of the leading domestic rare earth magnet platforms: 1) USA Rare Earth Magnets, LLC to develop the nation's first fully domestic and circular supply chain for rare earth magnet manufacturing, and 2) Advanced Magnetics Lab, Inc. (AML) to provide high-purity raw material for their domestic magnet production and made an investment to further advance AML's technology and commercialization.
American Carbon
Positioned its McCoy Elkhorn complex as initial driver of carbon production growth given feedstock of high-quality metallurgical carbon deposits and processing capacity with the following initiatives:
Commenced production at its greenfield Carnegie 2 metallurgical carbon mine to supplement its existing Carnegie 1 mine.
Secured approval for advanced mining plans to increase production at its Carnegie mines including a deep cut mine plan at its Carnegie 1 mine, a continuous haulage bridge section at its Carnegie 1 mine, and a second mining section at its Carnegie 2 mine.
Commissioned one of its two processing facilities at McCoy Elkhorn for internal carbon processing, third-party processing and carbon loading.
Positioned Wyoming County Coal as its next driver of growth with the federal commitment in the form of $4.9 million in New Market tax Credits to go alongside the preliminary approval for a $45 million volume cap allocation from the state if West Virginia for private activity, Solid Waste Disposal Facility Revenue Bonds. These two non-dilutive capital sources will support the development of two underground deep mines to produce premium, mid-vol metallurgical carbon, upgrade to the existing processing facility and development of its patented electrolysis technology to process associated waste streams into critical mineral concentrates.
Corporate
Elevated its shareholder-focused and value-creative culture by establishing a special committee to evaluate strategic opportunities that can unlock the value of the Company. Accordingly, the special committee instituted the following initiatives:
Implemented a stock repurchase program for up to a $10 million.
Repurchased a 7.5% interest of ReElement Technologies, making it a wholly owned subsidiary of American Resources.
Filed a Form10 registration statement with the U.S. Securities and Exchange Commission ("SEC") for the planned spin-off of its ReElement Technologies division into a standalone public company.
Strengthened its balance sheet and financial flexibility through the conversion of the Company's last convertible debt, whereby Golden Properties Ltd. elected to convert all of their Senior Convertible Debentures due March 31, 2023 to shares of class A common stock of the Company in a move that reduces the debt of the Company by over $9 million.
"Looking forward to the remainder of 2023, our belief in and excitement over the opportunities we have in front of us continues to reach an all-time high. We have positioned our McCoy Elkhorn complex as American Carbon's primary growth asset as we continue to expand production at our set of Carnegie mines, as we restart our onsite processing capacity and have redeployed certain assets from Perry County to support additional growth. Beyond Carnegie 1 and 2, we are planning and developing two, fully-permitted mines to supply our McCoy Elkhorn complex with additional low-cost, high quality metallurgical carbon for the global steel industry. Over the past several months, we have stockpiled approximately $6 million of met carbon production at McCoy Elkhorn as we prepared our processing plant to fully come online. Additionally, we are confident that our significant processing capabilities at McCoy Elkhorn will provide us ample third-part processing and loading opportunities with minimal additional capital expenditures," continued Mr. Jensen.
"The opportunity for ReElement Technologies continues to manifest at a very rapid pace and continues to be bolstered by our tremendous team and partnerships. Now that we have showcased commercial success for refining both rare earth and critical battery elements, we are confident that our refining technology will be recognized as the most efficient and viable standard as the foundation and infrastructure of this energy transition is stood up. As this transition continues to take hold, it is worth noting that our critical mineral needs are expected to exponentially increase, and high purity products will be imperative for manufacturing. As such, we believe our value-added services and collaborative approach will be continue to bolster our upstream and downstream partnerships and unlock the value of ReElement as we position it as a standalone public company."
Expected Near-Term Catalysts
Continued increase in carbon production to meet growing market demand.
Closing of $45 million West Virginia tax-exempt industrial development bonds for Company's Wyoming County advanced carbon and rare earth processing facility.
Additional ReElement Technologies upstream and downstream partnerships to bolster feedstocks of end-of-life products and ores for critical and REEs and offtake customers of sustainable and domestic sources of high-purity battery and magnet metals.
Showcase commercial efficacy of using patented chromatography process to produce ultra-pure lithium hydroxide or carbonate from spodumene ore.
Continue to scale critical mineral refining capacity with the procurement of large-scale facility and co-located facilities through partnerships.
Conference Call Information
American Resources management will host a conference call for investors, analysts and other interested parties today, Thursday, March 30, 2023 at 4:30 PM ET.
Interested participants and investors may access the conference call by dialing (877) 407-4019 and referencing American Resources Corporation's Fourth Quarter and Full Year 2022 Conference Call, or by the webcast link: here.
Financial Results for Fourth Quarter and Year-End December 31, 2022
For the full year of 2022, American Resources reported a net income loss of $1.45 million or a loss of $0.02 per share for the twelve months ended December 31, 2021, as compared with a net income loss $32.4 million or loss of $0.59 per share for the full year of 2021. The Company earned adjusted earnings before interest, taxes, depreciation, amortization, accretion on asset retirement obligations, non-operating expenses and non-cash impairment (‘adjusted EBITDA") of $6.5 million for the year ended December 31, 2022, as compared with an adjusted EBITDA loss of $22.8 million in 2021.
For the fourth quarter of 2022, American Resources reported net income of $9.5 million, or $0.14 per share, as compared with a net income loss of $10.4 million, or a loss of $0.17 per share, in the prior year period. The Company earned adjusted EBITDA of $11.4 million in the fourth quarter of 2022, as compared with an adjusted EBITDA loss of $6.8 million for the fourth quarter of 2021.
Fourth Quarter 2022 Summary
Total revenues were $4.68 million for the fourth quarter of 2022 compared to revenues of $4.54 million during the fourth quarter of 2021. General and administrative expenses for the fourth quarter of 2022 were $1.1 million compared to $1.3 million in the prior year period. American Resources incurred interest expense of $457,136 during the fourth quarter of 2022 compared to $1.9 million during the fourth quarter of 2021. Development costs during the quarter were $6.18 million, compared to $3.69 million in the third quarter of 2022.
Full Year 2022 Summary
Full year 2022 revenues were $39.5 million compared to full year 2021 revenues of $7.76 million. The Company realized record revenue in 2022, and a greater than 400% increase over 2021 annual revenue, as it grew production at its McCoy Elkhorn complex while being offset by the idling of its Perry County Resources complex due to labor disruptions resulting from the catastrophic floods that hit eastern Kentucky in August 2022. The Company has redeployed certain assets, including labor, from its Perry County Resources complex to its McCoy Elkhorn complex to support its continued organic growth. The Company is currently realizing a higher and more consistent production schedule at its McCoy Elkhorn complex, including a second operating section at its Carnegie 2 mine, and has stockpiled approximately $6 million of metallurgical carbon over the past several months as it commissions its onsite processing facility to fully operate. Development costs during 2022 were $28.1 million compared to $18.1 million during 2021 and better positions the Company within the markets in which it serves and to meet growing demand while realizing a healthy pricing environment.
The Company did not incur any income tax expense in 2022 as it was able to utilize its available net operating losses ("NOL") carried forward from prior periods of approximately $23.8 million as of December 31, 2022.
AMERICAN RESOURCES CORPORATION
CONSOLIDATED STATEMENTS OF OPERATIONS
See LINK BELOW!!
...........
Investor Contact:
JTC Team, LLC
Jenene Thomas
833-475-8247
arec@jtcir.com
RedChip Companies Inc.
Todd McKnight
1-800-RED-CHIP (733-2447)
Info@redchip.com
Company Contact:
Mark LaVerghetta
Vice President of Corporate Finance and Communications
317-855-9926 ext. 0
investor@americanresourcescorp.com
SOURCE: American Resources Corporation
View source version on accesswire.com:
https://www.accesswire.com/746767/American-Resources-Corporation-Reports-Fourth-Quarter-and-Record-Full-Year-2022-Financial-Results-and-Provides-Business-Outlook
Didn’t listen but down after hours must mean same old same old. Maybe next year.
Earnings today. Be nice to see a catalyst. No volume to move this right now
Perhaps like Leonight and other lenders who have converted. Perhaps they will run. The stock bring liquidity to the stock.
New diluter converted debt to shares at about a $1 average. If they want out this won't hold up. Volume is dismal
SEC Charges Eight Social Media Influencers in $100 Million Stock Manipulation Scheme Promoted On Discord and Twitter. AREC was a target.
https://www.sec.gov/litigation/litreleases/2022/lr25591.htm
Complaint: AREC on page 17
https://www.sec.gov/litigation/complaints/2022/comp-pr2022-221.pdf
FWIW.... H.C. Wainwright Reaffirms Their Buy Rating on American Resources (AREC)
October 26 2022 - 05:25PM
In a report released yesterday, Heiko Ihle from H.C. Wainwright reiterated a Buy rating on American Resources (AREC - Research Report), with a price target of $4.50. The company's shares closed today at $2.36.According to TipRanks, Ihle is an analyst with an average return of -19.9% and a 23.37% success rate. Ihle covers the Basic Materials sector, focusing on stocks such as Uranium Energy, Gold Resource, and Golden Minerals Co.American Resources has an analyst consensus of Moderate Buy, with a price target consensus of $4.50.
https://www.tipranks.com/news/blurbs/h-c-wainwright-reaffirms-their-buy-rating-on-american-resources-arec?utm_source=advfn.com&utm_medium=referral
Zonks…. More News…. American Resources Corporation to Build 200,000 Square Foot Combined Commercial Scale Lithium Ion Battery and Rare Earth Magnets Recycling Facility
New Facility Will Expand To Process 90,000 Tons of Critical Battery Materials (Black Mass) and 5,000 Tons of Rare Earth Magnets Annually by 2025
Site Selection Has Been Narrowed to Controlled Property in Either Indiana or West Virginia With Design and Engineer Already Commenced
FISHERS, IN / ACCESSWIRE / September 16, 2022 / American Resources Corporation (NASDAQ:AREC) ("American Resources" or the "Company"), a next generation and socially responsible supplier of rare earth and critical elements, carbon and advanced carbon materials to the new infrastructure and electrification marketplace, today announced that its majority owned subsidiary, ReElement Technologies LLC, has commenced engineering, planning and development for its second lithium-ion battery and rare earth magnet recycling and metal recovery facility utilizing its patented chromatography technology to produce 99.9%+ pure critical battery material and 99.5%+ rare earth elements.
Mark Jensen, Chief Executive Officer of American Resources Corporation commented, "The opportunity to continue the growth of our ReElement division is real and present given the demand for domestically produced battery and magnet grade materials. With the recent passing of the Inflation Reduction Act and the rapid adoption of electric vehicles the demand for such products is seeing rapid grow, and the versatility of our technology enables us to move quickly and cost effectively to provide a real solution. Beyond this facility, we are in numerous discussions on potential joint venture opportunities for customized, co-located facilities in both the United States and Europe. Given the minimal environmental and land footprint required of our process, we can efficiently expand our operations as the supply of end-of-life materials expands versus overbuilding and running inefficiently in the early years, but also expand rapidly in the out years as the market and feedstocks expand. Additionally, given our corporate structure, we have the ability to finance this project through non-dilutive sources at the ReElement level."
The Company has narrowed the site selection for this 200,000 square foot facility to one of two controlled properties. The first being Noblesville, Indiana which is approximately 40 acres of industrial-zoned land located less than 5 miles from its first commercial purification facility. The second location being considered is at a controlled property in West Virginia nearby the Company's existing site for premium mid vol carbon processing and electrolysis technology which will be deployed as part of the Company's previously announced tax-exempt bond issuance.
The facility will be initially constructed and expanded as the market for end-of-life magnets and battery material feedstock expands by adding additional magnet and battery purification capacity through its modular design. The annual capacity by 2025 is projected to exceed 95,000 tons of battery black mass or battery waste material (35,000 tons of high purity isolated battery elements) and 6,000 tons of rare earth magnet (2,000 tons of high purity isolated rare earth elements) processing capabilities.
ReElement Technologies sources end of life magnets and batteries that are further processed into an aqueous-based solution to be separated and purified back to magnet and battery grade materials so that they can be reused in the manufacturing of new batteries, magnets or other technologies. The Company's chromatography technology replaces the need for hydrometallurgical / solvent extraction in the separation and purification step in the metal recovery / recycling process. Furthermore, its patented process and technology is unique in that it can purify targeted materials to greater than 99.5% on an isolated or mixed basis, and enables the Company to have flexibility and versatility in what products and form we provide our customers.
$6 gap needs filling...that be a start. Right place...right time. You know how things trade by now.
Correct me if I’m wrong, but I’m thinking this is undervalued still.
And my #'s were apparently a bit conservative..
Good luck!
Starting to think more news is just around the corner
Agreed… my numbers were pretty much just relying on the met coal production.
I’ve heard the recycling margins are very healthy. By the time that’s factored in I think your numbers will be low.
Thanks for sharing! It's nice to see this mid-way through the 1/4
Our PPS will likely remain stuck in the 2.30's - 2.60's until we see Q3 numbers. Then it's my guess we'll push into the 3's
3's to 5's 2023 IMO
The company continues to receive financing non-dilutive financing which should enable them to ramp up their mine development and production.
From my perspective it looks like the next few quarters will be spectacular.
I think I remember seeing a forecast that 2022 revenues were going to approach $200,000,000.
For that to happen their the next two quarters will have to be stellar.
If they are able to hit that target their run rate will have projections $4-500,000,000 for 2023.
Absolutely incredible.
NEWS American Resources Corporation Expands Non-Dilutive, Growth-Driven Credit Facility for Its American Carbon Division
* $15 million credit facility provides access to non-dilutive, growth capital to further expand revenues and cashflow
* Provides company operational and strategic flexibility to expand production and maximize margins that can be drawn upon at the discretion of management
FISHERS, IN / ACCESSWIRE / August 22, 2022 / American Resources Corporation (NASDAQ:AREC) ("American Resources" or the "Company"), a next generation and socially responsible supplier of rare earth and critical elements, carbon and advanced carbon materials to the new infrastructure and electrification marketplace, today announced that it, along with its wholly-owned subsidiary American Carbon LLC, has expanded a non-dilutive, traditional asset backed credit line of $15 million that can be drawn against for growth initiatives.
Kirk Taylor, Chief Financial Officer of American Resources Corporation commented, "We are excited to be able expand this non-dilutive capital source that can be drawn upon for additional growth initiatives at our American Carbon division. It is important for our business lines to be set up to run independently as we embark on our growth-driven initiatives at both American Carbon and ReElement Technologies, and these financing structures enable us to do this while also being opportunistic on our growth opportunities. Having this flexible capital in place also enables American Resources, as a whole, to opportunistically enact certain valuation creation initiatives that our specialty committee evaluates."
The expanded credit facility, with the Company's existing lender Maxus Capital Group, is a traditional equipment loan secured by certain equipment of the Company American Carbon division. The equipment loan allows the Company to draw up to $15 million and carries a 36-month term. Based on a full lease facility advance, it is anticipated the equipment loan will bear an effective initial interest rate of approximately 14.48% over the term of the loan. Furthermore, with separate financing facilities at both the ReElement Technologies and American Carbon subsidiaries, American Resources has further financial flexibility to execute on select value creation initiatives that the Company's recently announced special committee believes are beneficial.
American Resources continues to focus on running efficient streamlined operations in being a new-aged supplier of raw materials to the infrastructure and electrification marketplace in the most sustainable of ways, while also helping the world achieve its goals of carbon neutrality. By operating with low or no legacy costs and having one of the largest and most innovative growth pipelines in the industry, American Resources Corporation works to maximize value for its investors by positioning its large asset base to best fit a new-aged economy, while being able to scale its operations to meet the growth of the markets it serves.
https://www.accesswire.com/712976/American-Resources-Corporation-Expands-Non-Dilutive-Growth-Driven-Credit-Facility-for-Its-American-Carbon-Division
6:43a ET 8/17/2022 - Benzinga
HC Wainwright & Co. Maintains Buy on American Res, Raises Price Target to $4.5
Mentioned: AREC
HC Wainwright & Co. analyst Heiko Ihle maintains American Res (NASDAQ:AREC) with a Buy and raises the price target from $4.25 to $4.5.
Nov 2021HC Wainwright & Co.MaintainsBuy Aug 2021HC Wainwright & Co.MaintainsBuy May 2021HC Wainwright & Co.
Maintains Buy
View More Analyst Ratings for AREC
View the Latest Analyst Ratings
© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
-American Resources Corporation Applauds the Inflation Reduction Act's Support for Domestic Critical Mineral Production-
The Inflation Reduction Act (IRA) Marks a New Era in Climate Policy With $369 Billion in Incentives To Navigate the Energy Transition
IRA Provisions Aim To Bolster Domestic Critical Mineral Production and Is Highly Aligned With the Company's ReElement Technologies' Accomplishments
American Resources Corporation Reports Second Quarter 2022 Financial Results and Provides Business Outlook
Record quarterly revenues of $16.2 million represents the best in Company's history with significant expansion opportunities over the balance of the year
Company boasts 78% quarter-over-quarter revenue growth; adjusted EBITDA for the 2Q 2022 of $11.5 million
The first domestic, commercial producer of separated and high-purity REEs from recycled permanent magnets
On track to commercially produce separated and high-purity battery elements from recycled lithium-based batteries in 4Q 2022
Company's patented chromatographic separation and purification process defining itself as the only complete recycling solution for all the critical and REEs in the EV powertrain
Company's carbon platform well positioned to capitalize on continued market strength and opportunities over the next several years
Record quarterly revenues of $16.2 million represents the best in Company's history with significant expansion opportunities over the balance of the year
Company boasts 78% quarter-over-quarter revenue growth; adjusted EBITDA for the 2Q 2022 of $11.5 million
The first domestic, commercial producer of separated and high-purity REEs from recycled permanent magnets
On track to commercially produce separated and high-purity battery elements from recycled lithium-based batteries in 4Q 2022
Company's patented chromatographic separation and purification process defining itself as the only complete recycling solution for all the critical and REEs in the EV powertrain
Company's carbon platform well positioned to capitalize on continued market strength and opportunities over the next several years
Company to host update conference call today at 4:30 PM ET
FISHERS, IN / ACCESSWIRE / August 15, 2022 / American Resources Corporation (NASDAQ:AREC) ("American Resources" or the "Company"), a next generation and socially responsible supplier of rare earth and critical elements, carbon and advanced carbon materials to the new infrastructure and electrification marketplace, today announced financial results for the second quarter of 2022 and provided a corporate update. The Company will host a conference call and webcast, today, August 15, 2022, at 4:30 PM ET (details below).
Mark Jensen, Chairman and CEO of American Resources Corporation commented, "The second quarter of 2022 continued to showcase the steady progression of our carbon business resulting in 78% quarter-over-quarter revenue growth. Today, we continue to see the fruits of our investments and have our carbon platform in position to drive continued carbon production growth forward. We continue to see constrained supply throughout the industry and as a result, we find ourselves as one of the few sources of needed supply growth. Additionally, our newly rebranded ReElement Technologies ("ReElement") division recently achieved a major milestone of being the first domestic, commercial producer of isolated and high-purity rare-earth elements. While we are confident in our team, process and technology, our results from our first commercial runs exceeded our expectations by achieving greater than 99.5% pure neodymium, dysprosium and praseodymium. We fully believe our chromatography technology will reset the standard of how critical and rare earth elements are separated and purified around the world as well as providing the most efficient recycling solution for these critical raw materials. This is not only a huge accomplishment for our Company, but for our country and domestic supply chain as well. American Carbon and ReElement's unique positioning are a clear differentiator for our Company and we believe also provides a unique investment opportunity for our shareholders."
Second Quarter 2022 Key Highlights
ReElement Technologies
Secured the exclusive worldwide rights for a new provisional patent filed by the Company's technology and research partner, Purdue University, for the isolation and purification of battery-grade materials using multi-mode chromatography for all feedstocks
Joined the global Rare Earth Industry Association (REIA), an international non-profit organization representing the global rare earth element (REE) industry.
Rebranded American Rare Earth division as ReElement Technologies to better reflect its mandate of producing and supplying high-purity magnet and battery grade rare earth and critical elements to the domestic supply chain while also focusing on the sustainability of these raw materials.
American Carbon
Entered into a multi-year lease of its Deane Mining complex to a high quality, local, third-party operator named Bluegrass Resources which allows the Company to continue to capitalize on the current strong carbon environment by monetize noncore assets, help keep the community working and brings additional value to its shareholders.
Signed a carbon offtake agreement along with a non-dilutive financial commitment of $2.5 million with a long-standing customer and premier supplier of metallurgical carbon to the global steel and alloy metal marketplace, Integrity Coal Sales ("Integrity"), to start its Carnegie 2 mine.
Expanded its sales commitments for a portion of its specialty carbon stoker products by approximately 15,000 tons at a record average price realization in the mid $200 per ton.
Corporate
Signed a binding letter of intent to acquire all of the outstanding stock of Energy Technologies Inc. ("ETI"), a rare earth element and carbon technology company with a focus on analyzing and separating materials for the recovery and concentration of high-value products.
Announced that the special purpose acquisition vehicle the Company has sponsored, American Acquisition Opportunity Inc. (AMAO), successfully entered into a definitive agreement that will result in Royalty Management Corporation becoming a publicly listed company.
https://www.accesswire.com/712177/American-Resources-Corporation-Reports-Second-Quarter-2022-Financial-Results-and-Provides-Business-Outlook
Total Revenue
Q2’22
$16,199,204
Q2 ‘21
393,210
Six months ‘22
$25,279,828
Six months ‘21
$403,857
Net loss per common share - basic and diluted
$ Q2 ‘22
(.04)
$ Q2 ‘21
(.13)
$ Sixth months’22
(.08)
$Six months ‘21
(.26
)
Lots of moving parts still to come on line. Additional mines at the beginning of their useful life!
Railroad loading facility… potential Annual processing of 1 1/2 to 2 million tons of met-coal. We’re talking about 100’s of millions in annual revenue.
Crazy big numbers. And this is from just one of the mine complexes that is currently active.
NEWS! American Resources Corporation Commences Planning and Development on Next Two Metallurgical Carbon Mines
Mines have a low-cost of development and are capable of producing up to 45,000 tons per month
Company's McCoy Elkhorn complex has substantial embedded organic growth with its hub and spoke model, existing permits, 2 onsite carbon processing facilities and rail load out facility
FISHERS, IN / ACCESSWIRE / August 11, 2022 / American Resources Corporation (NASDAQ:AREC) ("American Resources" or the "Company"), a next generation and socially responsible supplier of rare earth and critical elements, carbon and advanced carbon materials to the new infrastructure and electrification marketplace, today announced that post the success of staffing and starting its Carnegie 2 mine, it has commenced planning and development on its next two carbon mines in Pike County, KY to supply its McCoy Elkhorn complex with additional low cost high quality metallurgical carbon for the global steel industry.
Tarlis Thompson, COO of American Resources commented, "Over the last 7 years we have acquired, restructured and repositioned our extensive asset base enabling our carbon platform to deliver substantial organic growth that require low capital investment. With over 40 existing mining permits, five processing and logistics hubs, substantial remaining mine life and a high margin profile, our platform is a unique source of growth within our industry. Our team has dedicated substantial time and energy over the years to fully restructuring and repositioning these complexes to substantially streamline the facilities, their operations and our corporate overhead to enable a low cost structure and sustainable jobs for the community. Today these assets are in a position to unlock the value and take advantage of the strong global demand for carbon over the next few decades. Having these assets in place positions our platform as one of the few that can organically expand production to feed the demand especially while older mines in our region are coming to end of life."
McCoy Elkhorn Complex was formerly a complex owned and ran by James River Coal as one of their premier facilities. The complex is one of the last high-quality, long-life mining facilities in the market and in the region. The hub and spoke facility is centered around two state of the art processing plants (800 tph and 500 tph) and a 110 car unit train rail load out facility and two fully approved and permitted impoundments that can process north of 6 million tons of carbon per year. Post the start of the next two mines, the Company will begin the planning of the next phase of organic growth from the McCoy Elkhorn complex. Internally, the Company is focused on organically expanding production to 1.5 million to 2 million tons per year.
American Resources continues to focus on running efficient streamlined operations in being a new-aged supplier of raw materials to the infrastructure and electrification marketplace in the most sustainable of ways, while also helping the world achieve its goals of carbon neutrality. By operating with low or no legacy costs and having one of the largest and most innovative growth pipelines in the industry, American Resources Corporation works to maximize value for its investors by positioning its large asset base to best fit a new-aged economy, while being able to scale its operations to meet the growth of the markets it serves.
Trading well. Flippers who thought lower after the gap from 1.60 can't be happy. See how earnings come out next week.
I’m not sure this is the best way to say it, but yesterday’s release acknowledges the use of funds entering AREC’s cashflow without using EBIDA generated funds.
AS I see it this should substantially grow AREC’s revinue growth and bottom line.
Read these opening paragraphs again!
“Use of proceeds will fund the expansion and technological improvements to the existing WCC processing facility as well as the new construction of the rare earth and critical element processing
“Creation of domestically sourced rare earth and critical elements for the electrification economy will meet the stated goals of current U.S. administration”
The numbers mentioned later in the press release are almost scary good:
“The Company's focus will initially be to bring the two new underground mines into production via a "walking super section" mine plan which will produce an estimated 55,000 tons of carbon per month, with further expansion potential as the mines are developed. American Resources will also look to upgrade and expand WCC's carbon processing plant's capacity, from its current 350 tons per hour rate, to approximately 700 ton per hour, while also incorporating the Company's innovative "capture" and "process" technology which will enable the facility to capture and process critical and rare earth elements from new carbon production and carbon-based waste sources to produce rare earth and critical element concentrates. The REE and CE concentrates produced will be transported to the Company's Indiana facility for further purification and isolation.
Let’s see 55k times approximately $200 a ton… would be $11 Million generated monthly income from just this mine complex.
When upgraded it will generate twice that amount… which comes out to an annual run rate of over $260 Million… again from just this mine complex.
AREC’s future seems to be getting pretty real!!
More Good News…. American Resources Corporation Receives Commitment of $4,900,000 in Federal Credits and Provides Update on West Virginia Tax Exempt Bond for Advanced Carbon, Rare Earth and Critical Element Processing
Federal commitment comes in the form of $4,900,000 in Federal New Markets Tax Credits (NMTC) for Wyoming County, West Virginia mining complex (WCC)
NMTC allocation will be combined with the previously announced $45 million Tax-Exempt Industrial Development Bonds from West Virginia
Use of proceeds will fund the expansion and technological improvements to the existing WCC processing facility as well as the new construction of the rare earth and critical element processing
Creation of domestically sourced rare earth and critical elements for the electrification economy will meet the stated goals of current U.S. administration
FISHERS, IN / ACCESSWIRE / August 9, 2022 / American Resources Corporation (NASDAQ:AREC) ("American Resources" or the "Company"), a next generation and socially responsible supplier of raw materials to the new infrastructure and electrification marketplace, today announced in addition to its previously announced preliminarily approval for the issuance of, and a volume cap allocation for $45,000,000 of private activity, Solid Waste Disposal Facility Revenue Bonds, the Company has received an allocation commitment totaling $4,900,000 of federal New Markets Tax Credits for the Company's Wyoming County Coal complex located near the town of Oceana, West Virginia.
Kirk Taylor, Chief Financial Officer of American Resources Corporation commented, "We are excited to see the continued support of our innovative business model by both the federal and state governments. By securing additional patient and non-dilutive capital, we can focus on bringing new-age growth to the state of West Virginia that matches the needs of our modern and transitioning electrified economy. The integration of rare earth and critical element processing with premium carbon extraction is a first for the industry and enables us to showcase our full suite of patented technologies to better leverage the region's broader resource base. Our innovative approach allows us to produce both premium, mid vol carbon for steel and alloy metal production while capturing and processing critical and rare earth concentrates resulting in a more environmentally-safe refuse. We believe our WCC complex will help usher in the next generation of natural resource capabilities to the region, its workforce and communities while also helping fuel our domestic demand for rare earth and critical elements."
Created in 2000 the New Markets Tax Credit Program is administered by the US Department of Treasury through the Community Development Financial Institutions Fund. The program has supported over 1,254 allocations in its 16-year history and allows for patient and adaptive capital to flow to underserved communities. It is expected that the net benefit to WCC will be $1,500,000 with a closing concurrent to or after the closing of the Tax-Exempt Industrial Development Bonds.
On December 16, 2021, the West Virginia Economic Development Authority approved a resolution preliminarily approving the issuance of up to $45,000,000 of Tax-Exempt Solid Waste Disposal Facility Revenue Bonds, Series 2022 on behalf of the Company's wholly-owned subsidiary, Wyoming County Coal LLC. The Company is progressing on the issuance of such bonds with its recently transferred underwriter Hilltop Securities. The Company expects the $45 million Tax-Exempt Industrial Development Bonds from West Virginia and the NTMC to close within the next 90 days.
The WCC complex is strategically located within one of the last substantial mid-volatile metallurgical carbon deposits and, with direct access to the Norfolk Southern Railway, provides favorable transportation logistics to the United States' east coast ports. Additionally, WCC is surrounded by a number of high-value metallurgical carbon reserves and remining sites that would otherwise be considered "stranded" without access to the WCC processing and logistics complex. The Company's focus will initially be to bring the two new underground mines into production via a "walking super section" mine plan which will produce an estimated 55,000 tons of carbon per month, with further expansion potential as the mines are developed. American Resources will also look to upgrade and expand WCC's carbon processing plant's capacity, from its current 350 tons per hour rate, to approximately 700 ton per hour, while also incorporating the Company's innovative "capture" and "process" technology which will enable the facility to capture and process critical and rare earth elements from new carbon production and carbon-based waste sources to produce rare earth and critical element concentrates. The REE and CE concentrates produced will be transported to the Company's Indiana facility for further purification and isolation.
American Resources continues to focus on running efficient streamlined operations in being a new-aged supplier of raw materials to the infrastructure and electrification marketplace in the most sustainable of ways, while also helping the world achieve its goals of carbon neutrality. By operating with low or no legacy costs and having one of the largest and most innovative growth pipelines in the industry, American Resources Corporation works to maximize value for its investors by positioning its large asset base to best fit a new-aged economy, while being able to scale its operations to meet the growth of the markets it serves.
https://www.accesswire.com/711370/American-Resources-Corporation-Receives-Commitment-of-4900000-in-Federal-Credits-and-Provides-Update-on-West-Virginia-Tax-Exempt-Bond-for-Advanced-Carbon-Rare-Earth-and-Critical-Element-Processing
Seems the market is looking forward to AREC’s next quarterly release!!
High of $2.55…. So far.
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