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EX-99.1 - PRESS RELEASE - American Resources Corp | arec_ex991.htm |
8-K - CURRENT REPORT - American Resources Corp | arec_8k.htm |
Exhibit
99.2
American Resources Corporation Commences Operations at Its Premier
Mining Site to Launch Significant Revenue Growth
Company provides guidance of $55 to $75 million in revenue in 2021
with opportunity for significant growth beyond
Perry County Resources complex to showcase a long-term, low-cost
operating structure based on restructured complex and mine
plan
Worldwide demand for steel and infrastructure products are seeing
significant gains, along with meaningful upswing in steel
prices
December 16, 2020 | Source: American Resources
Corporation
FISHERS, INDIANA / ACCESSWIRE / December 16, 2020
/ American Resources
Corporation (NASDAQ:AREC)
(“American Resources” or the “Company”), a
next generation and socially responsible supplier of raw materials
to the new infrastructure marketplace, today announced that it has
commenced operations at its Perry County Resources (PCR) complex.
The restart at PCR comes after a year of implementing a methodical
restructuring and in response to increased demand for raw materials
for steel and infrastructure projects.
Mark Jensen, Chairman and CEO of American Resources Corporation
commented, “This is a monumental event for the Company and
the Perry County Resources complex given the amount of effort,
investment, and dedication we have put into this particular asset
for the benefit of its future value, our shareholders and its
surrounding community. We feel we are at a significant inflection
point with Perry County Resources being the launchpad to propel the
Company into our next and exciting phase of growth. With this
commencement of operations, we now have the ability to generate
stable cash flows for our investors, a reliable supply of
high-quality carbon for our customers, and over 170 steady and
reliable jobs for the community.”
Throughout 2021, American Resources plans to steadily increase
production at PCR to meet the demand of its customer base, and as
such, anticipates 2021 full-year revenue in the range of $55 to $75
million on a consolidated basis. While the revenues generated
during this term is primarily that of its Perry County Resources
subsidiary, the Company anticipates continued contribution from its
growing American Metals subsidiary as well as initial revenue
contribution from its American Rare Earth subsidiary. Additionally,
the Company expects to restart its other four operating complexes,
beginning with McCoy Elkhorn during the second half of 2021, and
will update its future guidance accordingly.
The PCR complex has undergone a significant restructuring to focus
on a much more streamlined and efficient mine plan, processing
capabilities and logistics whereby eliminating over $40 million of
annual costs and burdensome complexities. The Company feels that
they have regained the complex’s true potential while at the
same time being able to fit today’s market. The PCR complex
produces PCI and specialty stoker carbon used in the steel, alloy
metals and infrastructure marketplace as well as being the Company
first hub to focus on the processing of critical and rare earth
minerals, in an environmentally positive process, from coal-based
sources.
Mr. Jensen added, “Worldwide demand for steel related
products is seeing significant strength due, in part, to the demand
for rebuilding and new infrastructure. The U.S. government has
stressed the need to rebuild and reinvent our infrastructure
domestically for modern technologies, which would result in
significant raw material and steel demand in the United States. Hot
rolled steel has climbed to 2-year highs over the last two weeks
with projected increases expected to continue based on forecasted
demand and low inventories.”
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. 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 supplier of high-quality raw
materials to the rapidly growing global infrastructure market. The
Company is focused on the extraction and processing of
metallurgical carbon, an essential ingredient used in steelmaking.
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 deposits are
concentrated.
American Resources has established a nimble, low-cost business
model centered on growth, which provides a significant opportunity
to scale its portfolio of assets to meet the growing global
infrastructure market while also continuing to acquire operations
and significantly reduce their legacy industry risks. Its
streamlined and efficient operations are able to maximize margins
while reducing costs. For more information visit
americanresourcescorp.com or connect with the Company on
Facebook,
Twitter, and
LinkedIn.
Special Note Regarding Forward-Looking Statements
This
press release contains “forward-looking statements”
within the meaning of the Private Securities Litigation Reform Act
of 1995. Forward-looking statements involve known and unknown
risks, uncertainties, and other important factors that could cause
the Company’s actual results, performance, or achievements or
industry results to differ materially from any future results,
performance, or achievements expressed or implied by these
forward-looking statements. These statements are subject to a
number of risks and uncertainties, many of which are beyond
American Resources Corporation’s control. The words
“believes”, “may”, “will”,
“should”, “would”, “could”,
“continue”, “seeks”,
“anticipates”, “plans”,
“expects”, “intends”,
“estimates”, or similar expressions are intended to
identify forward-looking statements, although not all
forward-looking statements contain such identifying words. Any
forward-looking statements included in this press release are made
only as of the date of this release. The Company does not undertake
any obligation to update or supplement any forward-looking
statements to reflect subsequent events or circumstances. The
Company cannot assure you that the projected results or events will
be achieved.
PR Contact:
Precision
Public Relations
Matt
Sheldon
917-280-7329
matt@precisionpr.co
Investor Contact:
JTC
Team, LLC
Jenene
Thomas
833-475-8247
AREC@jtcir.com
Company Contact:
Mark
LaVerghetta
317-855-9926
ext. 0
Vice
President of Corporate Finance and Communications
investor@americanresourcescorp.com
Source:
American Resources Corporation