American Resources Corp 8-K, filed Apr 14, 2020
American Resources Corp (AREC)
8-K
2020-04-14
For: 2020-04-14
View Original
Added on
April 06, 2026
About this 8-K
American Resources Corp filed this 8-K on April 14, 2020.
Items reported
- 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): April 14,
2020
AMERICAN RESOURCES CORPORATION
(Exact name of registrant as specified in its charter)
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Florida
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000-55456
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46-3914127
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(State
or other jurisdiction of incorporation)
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(Commission
File Number)
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(I.R.S.
Employer Identification No.)
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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
April 14, 2020, American Resources Corporation (or the
“Company”) issued a press release to provide an update
on its operations and outlook in regards to the global COVID-19
outbreak.
The information presented in Item 8.01 of this Current Report on
Form 8-K and Exhibit 99.1 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 9.01.1.
Financial Statements and
Exhibits.
(d)
Exhibits
The
following exhibits are attached hereto and filed
herewith.
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Exhibit No.
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Description
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Press Release
Dated April 14, 2020
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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.
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American Resources
Corporation
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Date: April 14,
2020
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By:
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/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 Provides COVID-19 Update on
Operations and Outlook
Company is well positioned to be a high-growth, worldwide supplier
of metallurgical carbon and quickly respond to demand and needs of
the infrastructure industry
April 14, 2020 | Source: American Resources
Corporation
FISHERS, INDIANA / ACCESSWIRE / April 14, 2020
/ American Resources
Corporation (NASDAQ:AREC)
(“American Resources” or the “Company”), a
supplier of raw materials to the rapidly growing global
infrastructure marketplace with a primary focus on the extraction,
processing, transportation and distribution of metallurgical carbon
to the steel and specialty metals industries, announced today an
update on its operations and outlook in regards to the global
COVID-19 outbreak.
The Company always takes an employee safety first policy and is
taking all precautionary steps to ensure a safe working environment
to protect the health of its employees and others, and to mitigate
the spread of the virus. To date, American Resources does not have
any cases of COVID-19 with any of its employees. Additionally, the
Company has donated its total available supply of N95 masks to the
Veterans Center in Hazard, Kentucky to help support first
responders.
Mark Jensen, Chairman and CEO of American Resources Corporation
stated, “First and foremost, our thoughts and prayers are
with everyone during these unique and trying times. Secondly, I
would highlight that American Resources has been built to withstand
these turbulent markets. Our low holding cost platform focuses on
efficiency, safety and flexibility and enables us to react quickly
and efficiently to different market conditions. We feel this
attribute sets us apart from the traditional legacy competitive
landscape within our industry.”
Given the state of the global commodities markets, American
Resources is focused exclusively on using this time to improve the
Company for the short, medium and long term while ensuring its team
is working at a safe distance. The Company is well positioned,
given its nimble operating structure to ramp up operations to meet
customer demands and opportunities while also doing so in a very
low operating cost structure for our shareholders. Current
maintenance and development activities include:
●
Enhancing
mine plans to significantly reduce operating cost
structure;
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Reducing
environmental impact through reclamation activities;
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Developing
plans to optimize existing organic growth to support next five-year
industry demand growth; and
●
Evaluating
strategic opportunities to expand footprint as they come
available.
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“We remain focused on the safety of our workers and our
ability to provide our customers with a reliable, sustainable
supply of high-quality product and one of the best growth pipelines
in the industry. We’re confident that we have positioned
ourselves well in a market that is seeing massive supply
disruptions and where we have the ability to quickly respond to
demand and needs of the infrastructure industry,” added Mr.
Jensen.
American
Resources has been a consolidator and operator of quality
metallurgical carbon assets within the Central Appalachian basin
(CAPP) to serve customers in the steelmaking, specialty alloy
metals, and industrial marketplaces. Its next-generation model and
philosophy is to restructure existing, legacy operations to better
fit the modern-day marketplace by eliminating legacy costs and
liabilities to significantly reduce the overall operating
costs.
Perry County Resources
As previously announced, American Resources has completed its
post-acquisition restructuring efforts of its Perry County
Resources (“PCR”) subsidiary and is now working with
regulators to approve its revised mine plans of its retained E4-2
mine. Once approved, PCR is well positioned to supply high-quality
PCI and specialty stoker-sized products to steel, specialty-alloy
metal and industrial customers.
McCoy Elkhorn
The Company’s McCoy Elkhorn complex is a supplier of High-Vol
A/B metallurgical carbon to the global steelmaking market. With
current production coming from two mines, Carnegie 1, in the Lower
Alma seam, and Mine 15 in the Glamorgan seam, the Company has a
number of additional mines that can be brought online quickly to
respond to additional demand. Those mines include Carnegie 2,
Carnegie 3 and PointRock.
American
Resources Corporation continues to focus on its growth objective by
efficiently leveraging its large number of core mining permits and
through identifying strategic, supplemental acquisitions. The
Company is committed to being one of the lowest cost operators in
the Central Appalachian basin (CAPP) and throughout all its carbon
mining, processing, and transportation operations.
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.
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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
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