American Carbon acquires 51% of TR Mining for 6% equity stake valued at ~$19.3M

American Resources Corp

Acquisition of 51% interest in TR Mining's mineral deposit (iron ore, titanium, vanadium) plus exclusive offtake rights.
Consideration: ~6% of ACC equity to TR Mining owners, valued at approximately $19.305 million.
Initial estimate: 212.9M tons raw feedstock; 106.5M tons ore body at 50% magnetic material average.
Deposit includes onshore and offshore Jamaican reserves under Special Exclusive Prospecting License No. 611.
Third-party reserve analysis by Ja-GeoS; deal closed February 5, 2024.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

American Resources Corp entered into Share Purchase Agreement with T.R. Mining & Equipment Ltd. valued at approximately 6% of the primary shares outstanding of ACC (effective 2024-02-05).

Action: entry
Agreement: equity purchase
Counterparty: T.R. Mining & Equipment Ltd.
Value: approximately 6% of the primary shares outstanding of ACC
Effective: 2024-02-05

Exact text from the filing

to where ACC has purchased 51% of the fully diluted shares outstanding of TR Mining in exchange for approximately 6% of the primary shares outstanding of ACC.

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American Resources Corp filing history →

Source: SEC EDGAR

accession 0001654954-24-001547

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