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Highlights. 1. "Initial production range is

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RandyKCMO Member Level  Thursday, 05/02/19 09:33:45 AM
Re: RandyKCMO post# 140
Post # of 182 
Highlights.

1. "Initial production range is anticipated to be approximately 14,000 to 20,000 clean tons per month with both continuous miners producing."

2. "Phase 3 (Oct - Nov): Production will again be expanded to operate two separate sections: one being a full super section and the other a walking super section, with two production shifts and one maintenance shift. Initial production range is expected to be approximately 32,000 to 42,000 clean tons per month."

3. "Once fully implemented, American Resources expects the Carnegie 1 mine to contribute an estimated $3.45 million in monthly revenue and an annual revenue run rate of approximately $41 million."

4. "'First and foremost, we applaud our team for all of their efforts to complete Phase 1 of our growth plan at our Carnegie 1 mine on time and on budget", stated Mark Jensen, Chief Executive Officer of American Resources Corporation. "This is an important milestone in our overall growth as it enables us to further deliver on our commitment to our customers, employees, and shareholders to being the fastest growing company in our industry."

5. "American Resources Corporation continues to focus on its growth objective by efficiently leveraging its large number of core mining permits and through identifying strategic, supplemental acquisitions and continuing to consolidate quality coal assets for future growth and production. "



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