I love it when things work out!
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That AREC is focussing their production on metallurgical coal makes them a hybrid among coal producers.
Once things break loose and American steel production and infrastructure restoration kick into high gear, I think you'll see AREC and other companies like them like Ramaco (METC), etc., we'll see revenues and profits increase substantially.
10/1/2020 NEWS American Resources Corporation Awarded National Mining Association's Top Safety Award
Company Receives 2019 Sentinels of Safety Award and
Is Recognized by the National Mining Association for Its Outstanding Safety Performance
Company Is Poised to Be One of the Fastest Growing U.S. Suppliers of Raw Materials to Serve Long-Term Steel Markets Driven by Global Infrastructure Demand
FISHERS, IN / ACCESSWIRE / October 1, 2020 / American Resources Corporation (NASDAQ:AREC) ("American Resources" or the "Company"), a supplier of raw materials to the rapidly growing global infrastructure marketplace, today announced it is the proud recipient of the National Mining Association's ("NMA") 2019 Sentinels of Safety Award, which is widely considered mining's most prestigious safety award.
NMA's Sentinels of Safety Award recognizes mineral mining operations in various categories for recording the most hours in a calendar year without a single lost-time injury. A minimum of 4,000 hours is required for award consideration. American Resources received this award for its underground, room and pillar carbon mining operation located in Letcher County, Kentucky.
Mark Jensen, Chairman and CEO of American Resources Corporation commented, "First and foremost, we are extremely proud of our team members for all of their contributions in achieving an exemplary safety record. The safety of our team is always held as our primary responsibility and we believe that efficient mines create safer mines. This award further highlights our ability to achieve both high-efficiency standards while operating in a safe and sustainable manner. All of these values are core to our mission and bolsters our confidence in the platform we have built to become a long-term, stable supplier of raw materials to the global infrastructure market. We are honored to receive this recognition of safety and very much look forward to upholding this standard as we prepare to restart our operations at our Perry County Resources complex this quarter."
American Resources is keen on efficiently and effectively utilizing its asset bases to supply customers in the metals and infrastructure industry raw materials to manufacture products in the most sustainable way while focusing on building out its full suite of infrastructure-related business lines. The Company is committed to continuing its efforts to identify operational efficiencies in its ongoing goal to be one of the lowest-cost and safest operators and responsible stewards of the environment in Central Appalachia and throughout all its mining, processing, and transportation operations.
About American Resources Corporation
American Resources Corporation is a supplier of high-quality raw materials to the rapidly growing global infrastructure market. The Company is focused on the extraction and processing of metallurgical carbon, an essential ingredient used in steelmaking. American Resources has a growing portfolio of operations located in the Central Appalachian basin of eastern Kentucky and southern West Virginia where premium quality metallurgical carbon deposits are concentrated.
American Resources has established a nimble, low-cost business model centered on growth, which provides a significant opportunity to scale its portfolio of assets to meet the growing global infrastructure market while also continuing to acquire operations and significantly reduce their legacy industry risks. Its streamlined and efficient operations are able to maximize margins while reducing costs. For more information visit americanresourcescorp.com or connect with the Company on Facebook, Twitter, and LinkedIn.
Special Note Regarding Forward-Looking Statements
This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks, uncertainties, and other important factors that could cause the Company's actual results, performance, or achievements or industry results to differ materially from any future results, performance, or achievements expressed or implied by these forward-looking statements. These statements are subject to a number of risks and uncertainties, many of which are beyond American Resources Corporation's control. The words "believes", "may", "will", "should", "would", "could", "continue", "seeks", "anticipates", "plans", "expects", "intends", "estimates", or similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. Any forward-looking statements included in this press release are made only as of the date of this release. The Company does not undertake any obligation to update or supplement any forward-looking statements to reflect subsequent events or circumstances. The Company cannot assure you that the projected results or events will be achieved.
PR Contact:
Precision Public Relations
Matt Sheldon
917-280-7329
matt@precisionpr.co
Investor Contact:
JTC Team, LLC
Jenene Thomas
833-475-8247
AREC@jtcir.com
Company Contact:
Mark LaVerghetta
317-855-9926 ext. 0
Vice President of Corporate Finance and Communications
investor@americanresourcescorp.com
SOURCE: American Resources Corporation
View source version on accesswire.com:
https://www.accesswire.com/608621/American-Resources-Corporation-Awarded-National-Mining-Associations-Top-Safety-Award
Tradingwise it looks to me like EMED has turned a corner.
Hello... I bought some yesterday at $.45.
Trying to bring down my average cost per share. :)
I'm still quite confident about the future of the company.
I've added to and subtracted from my position shares over the last year or so.
Lately I've been adding, FWIW.
That's Pretty Funny!
LL,
I wish I had had the liquidity to pickup the shares that were offered for sale.
When I saw the 10K offered at .59, I thought "Hmmm... what could I sell to buy them?" But while I was contemplating someone came along and chomped them and and the 20K more at .599.
I'm thinking we probably won't be at these levels much longer.
RK
Helpful link... Thanks.
I was able to look up historical trades and from what I could see, FTM hasn't traded on the Toronto Venture Exchange (TSXV) since February 27, 2019.
Hopefully, there Alberta Stock Exchange CTO will come off and the company can get back to executing its business plan.
If there's a silver lining for us as early investors, it's that we've been reassured that the company has not been nefarious or negligent. The subsequent re-auditing of all their previous deals has been reevaluated and approved by SEC attorneys and the new CPA firm auditors... Davidson or Donaldson... Whichever it is.
The company had come through with flying colors... With an increased book value that better reflects the assets that they've acquired.
Hey Phrocks,
The CTO (Cease Trade Order) was initiated by the by the regional Alberta Stock Exchange for not filing audited financials on time. To remedy for the "failure to file" the company has refiled re-audited financials prepared by their new auditing firm for the last 3-4 years. They are currently up to date with their filings as can be seen on OTCmarkets.com are still QB qualified.
At this point the CTO has not been withdrawn, but I'm thinking it can't be too far away.
PR Q2Earth Changes Name to QSAM Biosciences, Inc.; Will Commence Trading Under Symbol QSAM in 20 Business Days
Press Release | 09/10/2020
Palm Beach, FL;, Sept. 10, 2020 (GLOBE NEWSWIRE) -- Q2Earth Inc. (OTCQB: QPWRD) announced today that it has filed an amendment to its Certificate of Incorporation and has received FINRA approval to change the company’s name to QSAM Biosciences, Inc., and will commence trading under the new stock symbol QSAM within 20 business days. The company has also enacted a 25:1 reverse stock split effective today and increased its authorized common stock to 300 million shares, as approved by its stockholders in January 2020.
The name change to QSAM Biosciences is meant to reflect the new direction of the company, after securing the exclusive, worldwide rights to a clinical stage novel radiopharmaceutical called CycloSam® which is meant to treat different types of bone cancer and related diseases. This nuclear technology was developed by ISO Therapeutics Group, LLC, whose founders created Quadramet®, one of the first FDA approved and commercially available radiopharmaceuticals. CycloSam is expected to go into Phase 1 clinical trials in Q1 2021, and has already been used successfully in one human trial this past summer.
“The next several months for QSAM will be very exciting as we prepare for and expect to commence human trials of CycloSam, including treatment of a rare and devastating form of pediatric bone cancer called osteosarcoma. We look forward to securing additional strategic partnerships, building our team and expanding our test sites as we push towards clinical trials early next year. QSAM Biosciences is more than just a new name, but a whole new mission for this company in the treatment of cancer,” stated Douglas Baum, a company Director and President and CEO of the company’s wholly subsidiary QSAM Therapeutics.
Stockholders will not need to do anything in connection with the reverse stock split. Any fractional share has been rounded up to the nearest whole share. The company plans to transfer its remaining compost and soil technology assets over the following month in exchange for the elimination of a material portion of its debt.
About QSAM: QSAM Bioscience, Inc. (f/k/a Q2Earth. Inc.) holds the worldwide license for CycloSam® (Samaium-153 DOTMP), a clinical stage novel radiopharmaceutical meant to treat different types of bone cancer and related diseases. This nuclear technology uses low specific activity Samarium-153 (resulting in far less europium) and DOTMP, a chelator which is believed to eliminate off-target migration and targets high bone turn over making it an ideal agent to treat osteosarcoma, bone metastases and to perform bone marrow ablation. Sm-153 DOTMP has been cleared by the FDA under an investigator initiated IND to commence human dosing of cancer patients.
Legal Notice Regarding Forward-Looking Statements: This news release contains "Forward-looking Statements". These statements relate to future events or our future financial performance. These statements are only predictions and may differ materially from actual future results or events. We disclaim any intention or obligation to revise any forward-looking statements whether as a result of new information, future developments or otherwise. There are important risk factors that could cause actual results to differ from those contained in forward-looking statements, including, but not limited to our ability to fully commercialize our technology, risks associated with changes in general economic and business conditions, actions of our competitors, the extent to which we are able to develop new products and markets, the time and expense involved in such development activities, the ability to secure additional financing, the ability to consummate acquisitions and ultimately integrate them, the level of demand and market acceptance of our products, and changes in our business strategies. This is not an offering of securities and securities may not be offered or sold absent registration or an applicable exemption from the registration requirements
Contact
Christopher Nelson
cnelson@q2earth.com
For anyone who cares... I grateful for the shares I've bought today.
I have to say... it sounds like AREC is doing everything right.
Love each of these headlines:
"Strategic execution of environmental reclamation efforts further enhances Company's long-term value and reduce long-term cost structure
"Company is poised to be one of the fastest growing U.S. supplier of high-quality met carbon and well positioned to serve long-term steel markets driven by global infrastructure demand"
BRING IT ON!!! Once the revenue flow start and bottom line ramping up... I think AREC will deserve some outstanding valuations!
NEWS RELEASE: American Resources Further Reduces Environmental Liabilities and Long-Term Costs
Strategic execution of environmental reclamation efforts further enhances Company's long-term value and reduce long-term cost structure
Company is poised to be one of the fastest growing U.S. supplier of high-quality met carbon and well positioned to serve long-term steel markets driven by global infrastructure demand
FISHERS, IN / ACCESSWIRE / September 10, 2020 / American Resources Corporation (NASDAQ:AREC) ("American Resources" or the "Company"), a supplier of raw materials to the rapidly growing global infrastructure marketplace, today provided an update on the further reduction of its environmental liabilities through the remediation of certain idled, non-core permits. Through its expanded environmental efforts, the Company has been able to expediate its environmental reclamation process during the COVID-19 pandemic and successfully receive bond releases of an additional $400,000 of associated reclamation bonds. Additionally, the Company has made substantial progress in the reclamation process that represents approximately an additional $7 million of bonds.
Mark Jensen, Chairman and CEO of American Resources Corporation commented, "We are extremely proud of our team's efforts to efficiently pull forward our environmental reclamation work which we believe will drive significant long-term value for our shareholders, as well as demonstrates our ability to think outside the box during these past few months. Additionally, the launch of American Metals has enabled us to leverage our environmental work to create a valuable, high-margin revenue stream for the Company, while also diversifying our product offerings that we can provide customers. We believe it is actions like this that separate us from our competitors."
American Resources, since inception, has strategically acquired and restructured mining complexes to set itself up for being one of the fastest growing, lowest cost metallurgical carbon platforms in the Central Appalachian basin over the next few years through cost cutting and right-sizing operations designed to fit the current and future market conditions. The Company is committed to continuing its efforts to identify operational efficiencies and ways to reduce future liabilities in its ongoing goal to be one of the lowest cost operators and responsible stewards of the environment in Central Appalachia and throughout all its coal mining, processing, and transportation operations.
About American Resources Corporation
American Resources Corporation is a supplier of high-quality raw materials to the rapidly growing global infrastructure market. The Company is focused on the extraction and processing of metallurgical carbon, an essential ingredient used in steelmaking. American Resources has a growing portfolio of operations located in the Central Appalachian basin of eastern Kentucky and southern West Virginia where premium quality metallurgical carbon deposits are concentrated.
American Resources has established a nimble, low-cost business model centered on growth, which provides a significant opportunity to scale its portfolio of assets to meet the growing global infrastructure market while also continuing to acquire operations and significantly reduce their legacy industry risks. Its streamlined and efficient operations are able to maximize margins while reducing costs. For more information visit americanresourcescorp.com or connect with the Company on Facebook, Twitter, and LinkedIn.
Special Note Regarding Forward-Looking Statements
https://www.otcmarkets.com/stock/AREC/news/story?e&id=1689491
Wow. I guess IHUB is Johnny on the spot.
The company has a FINRA change of name, Ticker Symbol, and effect a 25 for 1 reverse stock split.
I'm guessing there will be a PR tomorrow... we shall see.
Thanks Renee. I/we've been waiting to hear about what developments were coming our way.
Looks like we're about to find out what the companies future will hold. I'm guessing we'll see news and probably an 8-K that will provide the nitty-gritty details. :)
Interesting close. Volume blast before the close.
I made a couple posts last night before bed. I was intending to reply to you in one of them to get your opinion.
Could I be wrong? Sure... but as I add up the information that's available, I think QPWR is in an intriguing position.
I still think seeing shares at penny prices is going to be a pretty good place to be off things progress with any with any finitude.
I think the next need we hear will be about the restructuring of the company...
Following this, I expect we'll hear about capitalization... bringing a drug to through trials to market is a big deal... I don't know but I'm guessing we're talking about $10-50 Million, maybe more. We'll see.
If memory serves me correctly when IBM was begun, the founder intentionally hired those who were innovators those who had tried to market a product etc, AND FAILED. The will and desire to take risks and try something new, ARE THOSE WHO WILL LIKELY SUCCEED IN THE FUTURE.
That President Chris Nelson and CEO and Chairman of the Board Kevin Bolen have not yet succeeded, isn't ideal, but hopefully also makes them all the more hungry for success be future. I don't think men like this have given themselves to all this effort to make a couple hundred grand a year. No doubt they and others like them are looking for much bigger and better things.
As I posted earlier the results of the recent shareholder meeting, increased the Authorized Shares and approved a reverse split, basically gives management a blank canvas to turn QPWR into the most successful company they can.
The acquiring of the Bone Cancer prospective drug and the new board member Douglas R. Baum... who is now the President of a new subsidiary QSAM that holds this new drug technology. PLUS THE CONTRACT ENTITLES THE COMPANY TO "FIRST RIGHT OF REFUSAL" for all future drugs or innovations developed by them.
This guy's reputation is GOLDEN...
"Mr. Baum brings to the Company over 28 years of experience in the bioscience and biotech industries, including development, commercialization and marketing of multiple drugs and medical devices. Over his long senior executive tenure, including as CEO of Xeris Pharmaceuticals, he has overseen 15 product approvals through the FDA and raised over $80 million in capital to fund breakthrough technologies."
PLUS.
“We are pleased and honored to have Doug join our board. We have a great deal of faith that he can help us pursue a strategy that includes expanding our licensing portfolio and business lines into new areas of biotechnology.” stated Kevin Bolin, the Company’s Chairman and CEO."
Finally, QSAM President Baum says:
"This is an exciting opportunity for me, and I look forward to working with the Q2 team. I feel confident that I can help the Company execute its vision and bring interesting opportunities to the table in the short term while building long-term shareholder value.”
One might even wonder how management was able to convince him to sign on to the company. Apparently, he trusts the current management, plus I'm wire certain he didn't leave his former positions to loose money or squander opportunity and potential profits. Rather, he no don't intends to maximize this opportunity for both himself and others.
Informational Release AMERICAN RESOURCES CORPORATION: IS BREAK EVEN NEAR? (Simply Wall St. article)
https://finance.yahoo.com/news/american-resources-corporation-nasdaq-arec-141511872.html
We feel now is a pretty good time to analyse American Resources Corporation's (NASDAQ:AREC) business as it appears the company may be on the cusp of a considerable accomplishment. American Resources Corporation supplies raw materials for global infrastructure marketplace. The US$33m market-cap company posted a loss in its most recent financial year of US$70.9m and a latest trailing-twelve-month loss of US$49.3m shrinking the gap between loss and breakeven. Many investors are wondering about the rate at which American Resources will turn a profit, with the big question being “when will the company breakeven?” Below we will provide a high-level summary of the industry analysts’ expectations for the company.
Check out our latest analysis for American Resources
According to some industry analysts covering American Resources, breakeven is near. They anticipate the company to incur a final loss in 2020, before generating positive profits of US$10m in 2021. So, the company is predicted to breakeven just over a year from today. How fast will the company have to grow each year in order to reach the breakeven point by 2021? Working backwards from analyst estimates, it turns out that they expect the company to grow 167% year-on-year, on average, which is extremely buoyant. Should the business grow at a slower rate, it will become profitable at a later date than expected.
?
earnings-per-share-growth
Underlying developments driving American Resources' growth isn’t the focus of this broad overview, however, keep in mind that generally an energy business has lumpy cash flows which are contingent on the natural resource and stage at which the company is operating. This means, large upcoming growth rates are not abnormal as the company is beginning to reap the benefits of earlier investments.
One thing we would like to bring into light with American Resources is it currently has negative equity on its balance sheet. Accounting methods used to deal with losses accumulated over time can cause this to occur. This is because liabilities are carried forward into the future until it cancels. These losses tend to occur only on paper, however, in other cases it can be forewarning.
Next Steps:
There are key fundamentals of American Resources which are not covered in this article, but we must stress again that this is merely a basic overview. For a more comprehensive look at American Resources, take a look at American Resources' company page on Simply Wall St. We've also put together a list of relevant aspects you should look at:
Historical Track Record: What has American Resources' performance been like over the past? Go into more detail in the past track record analysis and take a look at the free visual representations of our analysis for more clarity.
Management Team: An experienced management team on the helm increases our confidence in the business – take a look at who sits on American Resources' board and the CEO’s background.
Other High-Performing Stocks: Are there other stocks that provide better prospects with proven track records? Explore our free list of these great stocks here.
This article by Simply Wall St is general in nature. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
Have feedback on this article? Concerned about the content? Get in touch with us directly.
Alternatively, email editorial-team@simplywallst.com.
I think the votes at the Shareholder meeting gave management a clean slate to make of QPWR the the most valuable and profitable company possible.
My guess is that the biotechnology subsidiary (QSAM) with the bone cancer drug is most likely going to be a major character in QPWR's future.
Possible subplot characters include:
1. The interest QPWR has in the two or three composting businesses that had been acquired. Although we own only 20% the funding entity, EPH , retains 80%, it might be viable play for the funding entity to merge their portion into QPWR for an equity position into the future company... or maybe a spin off?
2. Then lastly, there's the worldwide license of the organic fertilizer,Agrarian Technologies, that is eco-friendly and potentially a game changer in organic farming and gardening... Or at least a solution to the heavy fertilization and is running off into lakes and streams.
These are all questions that I am anxious to have answered. I continue to believe that regardless of what the future holds, owning shares at a penny or two per share is going to leave plenty of opportunity for profits down the road.
Just my opinion. And for the record, I'm long and ready to see what the next chapter of QPWR's story is going to look like.
Exciting times. :)
Hey Dubster watching,
I think there's a pretty compelling case to be made for AREC... if not in the short term, certainly in the medium to long term.
The properties have book value all by themselves and if they can be turned into enterprise value... start generating revenue and profits, I think we will be off to the races.
As our outstanding shares are relatively low, I think this makes shares of AREC significantly more valuable than several of her peers. Once she reaches profitability the low number of shares should mean greater appreciation.
We'll see.
I've been continuing to watch QPWR these last few weeks. It seemed to me that there has been a pretty strong series of bids undergirding the stock.
Today there was a burst of buying that gives the appearance that something may well be coming together.
I'll take a look after I post this, but I'm guessing this is one of the higher numbers of shares that traded today. We traded up to 1.9 cents and had a large bid at 1.5 cents for the rest of the day.
I've been watching to see if there would be a 8-K after the market closed, but so far nothing.
Guess we'll wait and see what next week brings.
Well, for anyone looking to exit... there's a 20,000 share bid at 52 cents.
We've not seen size at this price in a while.
RK
I guess we're still waiting to hear what will become of QPWR.
In earlier filings they hinted that the company would be going in a new direction with a forrey into biotechnology.
The company requested and received authorization to increase the outstanding shares and do a reverse stock split. They had also indicated that they're operating funds were going to be meet through June and then hopefully extended.
I'm supposing that one of these weeks we will get some further clarity on the reorganization and an update on their future plans.
Until then we wait and see. Trading-wise the shares have established a pretty set range... A penny to a penny and a half. At times there have been bids on the hundreds of thousands, even millions of shares... These have been encouraging... but could just be attempts to induce buying.
We shall see. When I first was researching the company, I had opportunity to visit with management and was encouraged that they were going to do all in their power to make QPWR into a successful company.
Eventually, we shall see if they are able to do so.
The trading of this stock had been quite intriguing. The percentage increase over the last 2-3 months is nothing short of amazing.
Even though, as you stated, we've not yet seen any news.
I will say that at the moment it is looking like our assessment of the company and it's future seems to be on track.
Or I might say, it is looking more and more like a pretty viable interpretation of what those following the company are expecting.
Beyond doubt we're seeing that the company's share structure seems tight enough to trade at current levels and quite possible at higher ones.
Exciting times for long term investors.
I wouldn't be sure. Clearly the company has been belt tightening during this frustrating time.
They have stayed up to date on their filings, and from what I can gather from the filings and updates, the company is not too pleased.
It has been an agonizing two years for investors and I think the company. It has been exacerbated by the accounting and old/new auditor fiasco... which led to the Cease Trade Order.
Since then the company has had all their previous financials re-audited and refiled by their new accounting firm. They have filled their annual 10-K and their most 10-Q.
Also on the encouraging side of things, the company's share structure and outstanding shares have stayed virtually the same. They have a crap load of assets that one would think have both intrinsic (bookable value) and even more potential enterprise value (to become revenue producing).
All to say, I don't think the company is in as bad of shape as some have suggested. Is fact, to the contrary, I don't think we've seen anything yet.
It might be my perineal optimism... but it sounds too me SPYR is looking to launch in a new direction.
Could this be why the volume and share price have been on the rise?
I don't know, but I'm hoping so.
GO SPYR!
My thoughts on the latest 10-Q.
As we've seen in the last few filings SPYR the hand held gaming company had been saying "Uncle." Four times the following sentences is repeated:
"The Company also plans to diversify, through acquisition or otherwise, in other unrelated business areas and is exploring opportunities to do so." (Page 16)
"The Company also plans to diversify, through acquisition or otherwise, in other unrelated business areas and is exploring opportunities to do so." (Page 18)
"The Company also plans to diversify, through acquisition or otherwise, in other unrelated business areas and is exploring opportunities to do so." (Page 20)
"The Company may also decide to expand and/or diversify, through acquisition or otherwise, in other related or unrelated business areas if opportunities present themselves." (Page 21)
There's certainly seems to be growing interest (and price).
My argument all along has been that there has to be a end game or reason to maintain and continue SPYR as a public company/entity.
Hopefully, we'll find out some facts and details in the near future!
Who knows, if/when the 10-Q comes out, we'll be given some clues?
I'm just sitting here wondering...
Why would AREC purchase two additional "Continuous Miners?"
Why? Because they intend to use them to activate and access additional metallurgical Coal!
And that mean additional Revenue and Profits!!
Why? Because AREC has positioned itself to be "a nimble, low-cost business model centered on growth" whose "streamlined and efficient operations are able to maximize margins while reducing costs."
2020 and especially 2021 and beyond are looking like stellar years for AREC. Press Release mentioned that AREC expects that at just the Perry County Resources location they will ramp up production to 1 million tons of premium PCI coal which should sell for well over $100 per ton. Annualized that's $100 million in revenue (from just this location). Let's say that that results at net income of $10 or $15 Million. With just 28 million shares that eps of 34 cents to 54 cents per share. Multiply those numbers by 10-20 and you'll see how how much potential there is in AREC's shares.
Who knows for sure, but it looks to me like the sky is the limit for AREC's future.
BTW... As the public float of this company is less than 1 million shares, you would think this will trade where company friendlies want it to.
This would be a fairly risky company in which to build much of a short position.
NEWS 8/11/2020 American Resources Corporation Acquires Two Additional Continuous Miners for Perry County Resources
Company preparing to restart metallurgical carbon mining and processing operations at restructured complex
Perry County Resources restructured to be one of the lowest cost and most innovative PCI (pulverized coal injection) and stoker operations in the United States
FISHERS, IN / ACCESSWIRE / August 11, 2020 / American Resources Corporation (NASDAQ:AREC) ("American Resources" or the "Company"), a supplier of raw materials to the rapidly growing global infrastructure marketplace, announced today that the Company has signed a contract to acquire two additional continuous miners for their Perry County Resources ("PCR") mining complex in Hazard, Kentucky.
The PCR complex was acquired in September 2019 and has undergone a major restructuring. In anticipation of restarting the PCR complex within the next thirty days, American Resources is expanding its fleet of continuous miners to fit its restructured and low-cost operating model. With the addition of the two continuous miners the Company will now have six continuous miners as it restarts and ramps production.
Mark Jensen, Chairman and CEO of American Resources Corporation commented, "We are truly excited to restart the Perry County complex and unveil it as one of the lowest cost, if not the lowest, PCI and stoker operations in the United States. We applaud our team for the tremendous achievements made over the last several months to reduce over $45 million of costs and implement our strategic plan moving forward. Since acquiring it out of bankruptcy, we have invested a significant amount of time and resources into the complex to return it back into an efficient and productive operation. Now with six continuous miners, up from the one continuous miner that was operational when we acquired PCR, we feel we are in a really good position to ramp up the complex very efficiently and look forward to doing so in the near future."
Over the next twelve months, American Resources anticipates ramping up carbon production at PCR to have five continuous miners in operation with two "super" sections and one bridge section, allowing the mine to scale with maximum efficiency. The Company also anticipates adding additional continuous miners to the fleet at PCR to have a high degree of redundancy to minimize any unexpected equipment down-time. Additionally, the Company is anticipating through its forecasted production schedule to ramp the PCR complex to over 1.0 million tons of carbon per year to be shipped on the PCI, semi-soft metallurgical carbon and specialty stoker markets.
American Resources has been a consolidator and operator of quality metallurgical carbon assets in the Central Appalachian basin ("CAPP") to serve customers in the steelmaking, specialty alloy metals, and industrial marketplaces. Its next-generation model and philosophy is to restructure existing, legacy operations to better fit the modern-day marketplace by eliminating legacy costs and liabilities to significantly increase the overall efficiency and profitability of its complexes. Perry County Resources is one of the Company's five operating complexes within the CAPP.
Production at PCR has been idle during the COVID-19 outbreak to ensure a safe working environment, to protect the health of its employees and others, to mitigate the spread of the virus, and to better navigate the global economic disruption. With its restart, American Resources expects the complex to support approximately 140 long-term, sustainable jobs for the community.
About American Resources Corporation
American Resources Corporation is a supplier of high-quality raw materials to the rapidly growing global infrastructure market. The Company is focused on the extraction and processing of metallurgical carbon, an essential ingredient used in steelmaking. American Resources has a growing portfolio of operations located in the Central Appalachian basin of eastern Kentucky and southern West Virginia where premium quality metallurgical carbon deposits are concentrated.
American Resources has established a nimble, low-cost business model centered on growth, which provides a significant opportunity to scale its portfolio of assets to meet the growing global infrastructure market while also continuing to acquire operations and significantly reduce their legacy industry risks. Its streamlined and efficient operations are able to maximize margins while reducing costs. For more information visit americanresourcescorp.com cor connect with the Company on Facebook, Twitter, and LinkedIn.....
https://www.otcmarkets.com/stock/AREC/news/story?e&id=1667712
Good Information! Thanks.
I share your opinion.
As America prospers and rebuilds her infra-structure... so will AREC!!
BBB. Thanks. I'm just following at this point.
Trying to figure out whether recent lows were the bottom, or if what we're seeing this morning is a head fake, to induce additional buying.
Disclosures and Two Years of filings and audited financial.
https://www.otcmarkets.com/stock/HOJI/disclosure
Security Details
https://www.otcmarkets.com/stock/HOJI/security
Inaugural Post... House of Jane, Inc. is a newly listed OTC company.
Just this week, it received FINRA approval and was assigned the stock symbol HOJI.
It was also approved for being listed on OTCMarkets.com. If the security information and filings are not already populated, it will be over the next few days.