American Resources Corp 8-K, filed Dec 16, 2020
American Resources Corp (AREC)
8-K
2020-12-16
For: 2020-12-15
View Original
Added on
April 06, 2026
About this 8-K
American Resources Corp filed this 8-K on December 16, 2020, reporting on events of December 15, 2020.
Items reported
- Item 7.01: Regulation FD disclosure
- Item 8.01: Other events
- Item 9.01: Financial statements and exhibits
UNITED STATES
SECURITIES
AND EXCHANGE COMMISSION
WASHINGTON,
D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant
to Section 13 or 15(d) of the Securities Exchange Act of
1934
Date of
Report (Date of Earliest event Reported): December 15,
2020
AMERICAN RESOURCES CORPORATION
(Exact name of registrant as specified in its charter)
|
Florida
(State
or other jurisdiction
of
incorporation)
|
000-55456
(Commission
File
Number)
|
46-3914127
(I.R.S.
Employer
Identification
No.)
|
12115
Visionary Way, Suite 174, Fishers Indiana, 46038
(Address
of principal executive offices)
(317)
855-9926
(Registrant’s
telephone number, including area code)
________________________________________________
(Former
name or former address, if changed since last report)
Check
the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant
under any of the following provisions (See: General Instruction
A.2. below):
[
]
Written
communications pursuant to Rule 425 under the Securities Act (17
CFR 230.425)
[
]
Soliciting material
pursuant to Rule 14a-12 under the Exchange Act
(17CFR240.14a-12)
[
]
Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act
(17CFR240.14d-2(b))
[
]
Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act
(17CFR240.13e-4(c))
Item 8.01. Other Events
On
December 15, 2020, American Resources Corporation (or the
“Company”) issued a press release announcing
its advancement to the geotechnical
analysis stage of installing solar and battery storage technologies
at its Perry County Resources (PCR) carbon mining complex located
in Perry County, Kentucky.
Item 7.01. Regulation FD
On December 16, 2020, the Company issued a press release announcing
that it has commenced operations at its Perry County Resources
(PCR) complex to produce metallurgical carbon, PCI carbon and
specialty stoker carbon. American Resources also issued 2021
full-year revenue guidance in the range of $55 to $75 million
dollars.
The information presented in Item 8.01 and 7.01 of this Current
Report on Form 8-K and Exhibit 99.1 and 99.2 shall not be
deemed to be “filed” for purposes of Section 18 of
the Securities Exchange Act of 1934, as amended (the
“Exchange Act”), or otherwise subject to the
liabilities of that section, unless the Company specifically states
that the information is to be considered “filed” under
the Exchange Act or specifically incorporates it by reference into
a filing under the Securities Act of 1933, as amended, or the
Exchange Act.
A copy
of the press release is attached as Exhibit 99.1 hereto and is
incorporated herein by reference.
Item 9.01.
Financial Statements and
Exhibits.
The
following exhibits are attached hereto and filed
herewith.
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Exhibit No.
|
|
Description
|
|
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Press Release Dated December 15,
2020
Press Release Dated December 16, 2020
|
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf
by the undersigned hereunto duly authorized.
|
|
American Resources
Corporation
|
|
|
|
|
|
|
|
|
Date:
December 16, 2020
|
By:
|
/s/ Mark C.
Jensen
|
|
|
|
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Mark C.
Jensen
|
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Chief Executive Officer |
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Exhibit 99.1
American Resources Corporation Announces Solar Installation to
Reduce Peak Demand Charges and Increase Efficiency at Perry County
Complex
Solar instillation bolsters Company’s environmental focus and
innovation while also reducing long-term cost
structure
December 15, 2020 | Source: American Resources
Corporation
FISHERS, INDIANA / ACCESSWIRE / December 15, 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 its
advancement to the geotechnical analysis stage of installing solar
and battery storage technologies at its Perry County Resources
(PCR) carbon mining complex located in Perry County, Kentucky. With
this planned installation, the Company anticipates reducing its
long-term electrical and operating costs throughout the complex by
reducing its peak utility demand, while also advancing the PCR
complex to a cleaner, more sustainable and next-generation mining
operation.
Mark Jensen, Chairman and CEO of American Resources Corporation
commented, “It’s time for the mining industry to
increase its innovation and adoption of more sustainable and
renewable practices. The legacy mentality has reduced the overall
competitiveness of the industry and we are extremely proud to take
the lead to better align the industry with a modern-day economy. We
are evaluating all of our operations to showcase that we can
produce high-quality raw material for the new infrastructure market
while also being cost focused and environmentally driven. To our
knowledge, Perry County Resources will be the first application
worldwide to use on-site solar to reduce utility demand charges at
a carbon mining complex. Our analysis to-date has shown that we can
reduce our total utility costs by over 20% over the long-term. We
are also continuing to evaluate other opportunities to utilize
solar, battery storage, and other technologies for off-grid power
solutions to reduce our costs and meet our environmental
goals.”
Like many of the industry’s carbon mining operations, the
Perry Country Resources complex was built during a time when
electrical efficiencies were less developed and less efficient.
With the advancement of solar and other renewable power
technologies, opportunities are now available for the Company to
allow for increased efficiencies and reduced costs at its
processing, logistics and industrial complexes. Over the past year,
American Resources has been working with Kentucky-based
Edelen
Renewables to evaluate and
initiate the preliminary phase of installing a solar array at its
PCR complex, and to advance a collaborative mission to bring new
job opportunities and economic diversification to this depressed
region of the country.
Adam
Edelen, Chief Executive Officer of Edelen Renewables, a leading
developer of solar technology in Central Appalachia stated,
“American Resources has not only shown an interest in doing
its part to innovate and modernize the mining industry, but has
taken the steps to actually move forward, which we have not seen
from producers of raw materials to-date. The level of innovation
the American Resources’ team has displayed in how and what
type of raw materials are produced, along with how they can
maximize productivity, manage costs and create long-term
sustainable jobs is above and beyond what we expected form a carbon
mining company. We are excited to move quickly to the next phase of
design and analysis at the Perry County operation and to continue
working with the team on other initiatives in the
future.”
With the completion of the preliminary phase-one assessment, the
Company is excited to advance and announce the second phase of
geotechnical studies to determine the specific size and location of
the solar array at the PCR complex. American Resources is looking
to combine solar and battery storage technologies to reduce the
demand and peak utility costs to produce and process the
Company’s metallurgical carbon alongside reprocessing
coal-based refuse for critical minerals and rare earth elements
while improving the environment. The Company has previously
announced
its environmental focus, with the goal
of reducing its long-term costs and meeting environmental
initiatives at its operations.
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.
About Edelen Renewables
Edelen Renewables is the only solar development firm in America
with a sole focus on socially impactful projects that provide the
triple-bottom line return of meeting the climate challenge, driving
economic transition in forgotten communities, and producing savings
for off-takers. Edelen Renewables works with coal companies
together with green energy advocates to develop reclaimed mine
sites and create employment for displaced coalminers to assisting a
homeless shelter become the first in America to
“go-solar” without public subsidy, creating win/wins
for every stakeholder. Edelen Renewables has partnered with several
of the largest national developers of utility-scale projects and
currently have a pipeline of ten projects in four states,
representing more than 1GW and more than $1B in capital investment.
For more information visit edelenrenewables.com
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
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