StockHighAlert- Tuesday, 03/26/19 09:52:55 AM Re: None Post # of 228 In addition to continued face-up work on Carnegie 2, American Resources Corporation is in advanced negotiations with a contract mining company who will operate the mine for the company for a fixed-ton fee. The contractor agreement is anticipated to be completed by the time that the Carnegie 2 face-up work is finished. Initial production is anticipated to begin by this June, and the mine is expected to generate approximately $9 to $10 million in revenue a year at an estimated 40% EBITDA margin at current market prices. All the current production from Carnegie 1 and Carnegie 2 is committed to buyers. Similar to Carnegie 1, all production at the Carnegie 2 mine will be trucked to the company's McCoy Elkhorn Coal facility to be processed and loaded onto rail for customers.