AREC Q2 net loss $6.6M; revenue falls to $4K; closes $150M bond for lithium refinery

American Resources Corp

Net loss of $6.6M ($0.09 EPS) vs $7.6M loss ($0.10) in Q2 2023; adjusted EBITDA loss $3.9M.
Total revenue nearly zero at $4,095 vs $1.98M prior year due to cessation of coal sales.
Closed $150M tax-exempt bond for Kentucky Lithium refining facility and $45M bond for Wyoming County Coal.
Distributed 25% of American Infrastructure to shareholders; American Metals merger with AITR valued at $170M.
ReElement Technologies expanded partnerships and secured commercial agreements with major auto manufacturer and EDP Renewables.

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