AREC Q3 net loss $5.27M, revenue $9.51M (+238%); ReElement hits first US commercial rare earth production

American Resources Corp

Net loss $5.27M ($0.08 loss per share) vs $8.91M loss ($0.15) in Q3 2021; revenue $9.51M, up 238% YoY.
ReElement division achieved first US commercial production of >99.5% pure rare earths (Dy, Nd, Pr) from recycled magnets.
Carbon sales increased 240% YoY; sold 37,600 tons at avg >$250/ton; Perry County complex idled due to flooding.
Adjusted EBITDA turned positive at $257,700 vs ($1.37M) in prior year; development costs $3.69M.
Expects commercial production of battery elements (Li, Co, Ni, Mn) from recycled batteries in Q4 2022.

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