Business
American Resources Corporation Reports Second Quarter 2021 Financial Results and Provides Business Outlook
Company aligned with major U.S. priorities in both infrastructure and electrificationSignificant execution over the first half of the year has positioned the
About this update from American Resources Corporation
[{"type":"text","content":"Company aligned with major U.S. priorities in both infrastructure and electrificationSignificant execution over the first half of the year has positioned the Company to be a low-cost, stable provider of raw materials to high-growth marketsCompany seeing significant increasing demand; Major offtake partner increases annual purchase order by 20 percentRecent balance sheet improvements provides financial strength and flexibility to execute on its innovation, collaboration and growth plansCompany to host update conference call today at 4:30 PM ETFISHERS, IN / ACCESSWIRE / August 16, 2021 / 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 reported its second quarter of 2021 financial results and provided a corporate update.Mark Jensen, Chairman and CEO of American Resources Corporation commented, \"Over the course of the second quarter of 2021, we continued to position our Company to be one of the most unique growth platforms to reposition old-world, legacy assets to strategically align with a more modern economy. While the first quarter of this year highlighted the advancement of our American Rare Earth division by acquiring and synthesizing an innovative suite of technologies to establish what we believe will be the most sustainable and environmentally safe sources of critical and rare earth elements, our second quarter clearly demonstrated our commitment and ability to efficiently commercialize our technologies and processes. Our American Carbon division continued its production ramp up and expansion throughout the quarter following our deliberate steps to restructure its operations post acquisition and is on track to continue to scale organically to meet the demands of the market and drive significant revenue growth. Additionally, we had the opportunity to further strengthen our balance sheet, which will allow us to be more opportunistic and effective in achieving our goals.\"Second Quarter 2021 Key HighlightsAdvanced fly ash sampling program in conjunction with 2kW mobile electrolytic cell rare earth element (REE) processing plant where the Company has been working with various parties which control large deposits of fly ash to explore solutions to reproces...