Published: October 31, 2022 | Share This

[Click image to enlarge]

[Click image to enlarge]

American Resources Corporation, through its special committee, said the company will file a form 10 registration statement with the U.S. Securities and Exchange Commission (SEC) to spin-off its ReElement Technologies division into a standalone public company. It has approved and successfully repurchased a 7.5 percent interest of ReElement making it again a wholly owned subsidiary of American Resources.

“We are extremely excited about our progress as a business on a fundamental basis, the milestones we have achieved in producing ultra-high pure and sustainable critical minerals from domestic sources, and the opportunities we have in front of us. Our management, board of directors, and special committee concur that there are steps we can take to better unlock shareholder value in the short term, medium term, and long term,” said Mark Jensen, CEO of American Resources Corporation.

“Upon the ongoing review of our strategic options, we believe our ReElement division holds exemptional value to both our shareholders and our domestic supply chain. Given its execution to date and opportunities ahead, we feel ReElement is at a point to where it can benefit all stakeholders the best as a standalone public company as it continues to vertically integrate a supply chain of domestically-sourced and sustainable critical minerals,” added Jensen.

“Additionally, and in line with our last strategic update, we had the opportunity to and successfully completed the repurchase of a 7.5 percent interest in ReElement Technologies. This is a key accomplishment in maximizing that value for our shareholders as we pursue a spin-off and believe it is an accretive use of capital while also aligning well with our share repurchase program,” concluded Jensen.

ReElement’s goals as a standalone entity are:
• Ramp up to over 5,000 tons per annum of lithium from recycled materials and virgin ores
• Ramp up to over 2,000 tons per annum of rare earth elements to go into permanent magnets
• Continue to deploy its environmentally and socially positive technology both domestically and internationally for
  rare earth and battery elements purification displacing the toxic method of hydrometallurgical (solvent
  extraction) process used today in the industry
• Continue to expand internal capabilities both upstream and downstream on the lithium-ion battery recycling
  industry
• Continue to expand its upstream and downstream partnerships for both rare earth and critical battery elements

American Resources’ / American Carbon’s goals as a standalone entity are:
• Continue to expand production from its McCoy Elkhorn complex
• Close the tax-exempt bond issuance for its Wyoming County, West Virginia complex and ramp up production of
  the world’s first fully-integrated complex of mid vol carbon and rare earth / critical battery element concentration
  production
• Further deploy the ReElement electrolysis technology to produce rare earth and critical battery elements
  concentrates from carbon-based feedstocks to sell to ReElement as additional feedstock for separation and
  purification
• Evaluate other growth initiatives, further leasing of operation / facilities, acquisitions, and divestures
• Support further development of Novusterra Inc. carbon nanotube / graphene technology as a major stakeholder
  through synergistic initiatives
• Complete the company-sponsored SPAC, American Acquisition Opportunity Inc.‘s merger and dividend of
  majority of shares

American Resources plans to spin-off the majority of ReElement to existing shareholders and plans to file its form 10 with the SEC in the next 60 days where investors, media, and the general public can view information regarding the proposed spin-off. As part of the spin off, the companies will continue to operate under an optimized operating structure utilizing a shared services agreement as well as licensing certain technologies for extraction and concentration of rare earth and critical elements from carbon-based materials.

American Resources continues to focus on running efficient streamlined operations in being a new-aged supplier of raw materials to the infrastructure and electrification marketplace in the most sustainable of ways, while also helping the world achieve its goals of carbon neutrality. By operating with low or no legacy costs and having one of the largest and most innovative growth pipelines in the industry, American Resources Corporation works to maximize value for its investors by positioning its large asset base to best fit a new-aged economy, while being able to scale its operations to meet the growth of the markets it serves.

About American Resources Corporation
American Resources Corporation is a next-generation, environmentally and socially responsible supplier of high-quality raw materials to the new infrastructure market. The company is focused on the extraction and processing of metallurgical carbon, an essential ingredient used in steelmaking, critical and rare earth minerals for the electrification market, and reprocessed metal to be recycled. American Resources has a growing portfolio of operations located in the Central Appalachian basin of eastern Kentucky and southern West Virginia where premium quality metallurgical carbon and rare earth mineral deposits are concentrated.

To stop by American Resources’ website, CLICK HERE

About ReElement Technologies
ReElement Technologies is redefining how critical and rare earth elements are both sourced and processed while focusing on the recycling of end-of-life products such as rare earth permanent magnets and lithium-ion batteries, as well as coal-based waste streams and byproducts to create a low-cost and environmentally-safe, circular supply chain. ReElement Technologies has developed its innovative and scalable “Capture-Process-Purify” process chain in conjunction with its licensed intellectual property including 16 patents and technologies and sponsored research partnerships with three leading universities to support the domestic supply chain’s growing demand for magnet and battery metals.

To stop by ReElement’s website, CLICK HERE

Be in-the-know when you’re on-the-go!

CLICK HERE to register your email address.

Copyright © 2022 Mining Connection LLC. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed without permission.

For licensing permission, .(JavaScript must be enabled to view this email address)