Business
American Resources Corporation Reports Second Quarter 2024 Financial Results and Provides Business Outlook
The first domestic, commercial producer of separated and high-purity REEs from ores and recycled permanent magnets and high-purity battery elements from ores,
About this update from American Resources Corporation
[{"type":"text","content":"The first domestic, commercial producer of separated and high-purity REEs from ores and recycled permanent magnets and high-purity battery elements from ores, concentrated brines and recycled feedstocksCompany's patented chromatographic separation and purification process leading the world in efficient, environmentally-safe critical mineral refiningCompany successfully executed and closed $150 million tax exempt bond offering for the Company's Kentucky Lithium refining facilityCompany continues to execute on spinning-off certain subsidiaries into standalone entitiesCompany to host update conference call today at 4:30 PM ET FISHERS, IN / ACCESSWIRE / August 19, 2024 / 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 2024. The Company will host a conference call and webcast, today, August 19, 2024, at 4:30 PM ET (details below).Mark Jensen, Chairman and CEO of American Resources Corporation commented, \"We continue to see tremendous success and momentum in establishing our strategic positioning within our addressable markets. Our strategic focus continues to be on positioning and preparing our businesses for growth as separate, standalone companies, and we have been putting the pieces in place and have begun executing on that plan as we have previously discussed, and which is consistent with our Strategic Committee's plan of action to better unlock the value of American Resources. These steps include securing the appropriate growth capital to scale operations while also building word-class teams around each business. We recently updated the name of American Carbon to American Infrastructure Corporation to better reflect a more diversified resource mix to supply the global infrastructure markets such as our recent iron ore acquisition. Our growth capital for American Infrastructure is largely supported by the closing of the previously announced $45 million tax-exempt bond offering for Wyoming County Coal (WCC). Additionally, we recently executed a lease on our McCoy Elkhorn complex with a well proven operator to bring production back online this year....