Summary
AREC's ReElement Gets $25M to Expand Domestic Rare Earth Refining Hub
American Resources secures $25M from the U.S. Department of War to expand rare earth refining in Indiana, boosting domestic critical mineral supply for defense.
American Resources subsidiary Electrified Materials closes $9.5M private placement
American Resources Corp (NASDAQ:AREC) said its majority-owned subsidiary, Electrified Materials Corporation (EMCO), has completed its previously announced private placement, raising approximately $9.5 million in gross proceeds before fees and expenses. The offering consisted of 378,200 shares of EMCO's Series A Convertible Preferred Stock, priced at $25 per share.
American Resources affiliate ReElement tapped for NSF critical materials consortium
American Resources Corp (NASDAQ:AREC)'s minority-held affiliate ReElement Technologies has been named part of a National Science Foundation-backed consortium eligible for up to $160 million in funding over 10 years. The Critical Materials Crossroads consortium, led by the University of Missouri-Kansas City, was selected as one of the NSF's Regional Innovation Engines.
American Resources Corporation Investors
| Name | Quantity | Cost | Value | Profit ($) | Gain (%) |
|---|---|---|---|---|---|
| JD Jim Dushek HARBOUR INVESTMENTS Inc. | 2,084 | $5,168.32 | $3,749.74 | -$1,418.58 | -27.45% |
| RF Rekah Franca Catalyst Funds Management Pty Ltd. | 17,500 | $42,350 | $32,200 | -$10,150 | -23.97% |
| CC Cheung Chan Chemistry Wealth Management LLC | 10,000 | $16,700 | $18,200 | $1,500 | 8.98% |
 Mariana Coli Dunhill Financial LLC | 2,200 | $5,456 | $3,663 | -$1,793 | -32.86% |
 Daniel Guy Ethos Financial Group LLC | 26,464 | $12,364 | $44,062.56 | $31,698.56 | 256.38% |
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American Resources Corporation Profile
| Oil, Gas & Consumable Fuels Industry | Energy Sector | Mark C. Jensen CEO | NASDAQ (CM) Exchange | 02927U208 CUSIP |
| US Country | 7 Employees | - Last Dividend | 24 May 2017 Last Split | - IPO Date |
Overview
American Resources Corporation, established in 2006 and headquartered in Fishers, Indiana, operates within the coal industry focusing on the extraction, processing, transportation, and sale of metallurgical coal. Its operations primarily support the steel and industrial sectors. The company, through its various subsidiaries, has positioned itself as a key supplier of raw materials in the industry, meeting the demanding requirements of metallurgical coal needed in steel production and other industrial applications.
Products and Services
- Metallurgical Coal: This type of coal is a crucial component in the steel manufacturing process. American Resources Corporation specializes in the extraction and processing of high-quality metallurgical coal, catering to the needs of the steel industry. This coal is essential for the production of coke, a necessary element in steel furnaces.
- Coal for Pulverized Coal Injections: The company also processes and sells coal suitable for pulverized coal injection (PCI) techniques. PCI is used in blast furnaces as a supplementary method of reducing the amount of coke required in the steelmaking process. This not only reduces costs for steel producers but also enhances furnace efficiency and productivity.
