American Resources Q2 revenue drops 88% to $1.98M; receives LOIs for carbon assets worth ~$300M

American Resources Corp

Q2 net loss of $1.0M ($0.01/share) vs $2.44M loss in Q2 2022; revenue fell to $1.98M from $16.2M.
Non-binding LOI to sell American Carbon for ~$300M cash ($3.83/share); also LOI for Perry County Resources (~$40M).
Binding LOI to sell Deane Mining complex for $20.6M enterprise value.
ReElement achieved ultra-pure Li2CO3 (99.9978%) from recycled battery scrap at commercial scale.
Closed $45M tax-exempt bond for Wyoming County complex; filed Form 10 for spin-offs of ReElement and American Carbon.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.8

American Resources Corp reported financial results for the second quarter of 2023.

Period: the second quarter of 2023
Result: reported results

Exact text from the filing

On August 14, 2023, American Resources Corporation (or the “Company”) issued a press release to announce the reporting of the Company’s financial and operating results for the second quarter of 2023

View on SEC.gov

8 earnings releases filed in the last 30 days. Browse all earnings releases →

American Resources Corp filing history →

Source: SEC EDGAR

accession 0001654954-23-010762

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