American Resources Corporation Q3 FY2023 earnings call

• ReElement Technologies: Intends to spin off into a standalone public company, with Form-10 filings completed and progress on bond offerings for lithium refinery in Kentucky. Converted to an Indiana corporation and has ongoing strategic relationships.
• American Carbon: Focused on monetization via operations, leases, or divestitures. Closed $45 million tax-exempt industrial bond for Wyoming County complex, received bid offers, and filed Form-10 for spin-off. Restart of Carnegie mines planned, with progress on operational efficiencies.
• Facilities: Marion Refining facility received $45 million tax incentive, Knott County lithium refining facility has $150 million bond approval. ReElement's chromatography technology is highlighted as modular, scalable, and environmentally friendly for critical mineral refining.

ReElement Technologies is in the process of being spun off into a standalone public company, with Form-10 registration statements filed with the SEC and progress on bond offerings for lithium refining facilities. American Carbon is being monetized through operations, leases, and divestitures, with ongoing efforts to restart mines and interest from potential buyers. The company's cash position as of the end of the third quarter was approximately $44.7 million, and it continues to focus on solidifying its strategic positioning in addressable markets.

• ReElement spin-off process continuing with SEC filings and quarterly updates.
• Plans to restart Carnegie mines and develop Wyoming County complex.
• Interest in carbon assets and potential spinoff of American Carbon.
• Expansion of ReElement's global partnerships in critical mineral refining, including in Africa, Japan, and Europe.

• Uncertainties in timing and success of asset sales/spinoffs.
• Market conditions affecting the coal and critical mineral industries.
• Regulatory and environmental uncertainties in refining operations, such as compliance with IRA and other regulations.

Q: On the spinoff of American Carbon and ReElement, Heiko Ihle asks about timelines and implications.

A: Mark LaVerghetta responds it's a dual process, not forced, and moving to unlock value.

Q: Steve Segal asks about ReElement collaborating with other assets.

A: Mark LaVerghetta mentions interest in shredding operations and using chromatography technology.

Q: Keith Goodman asks about Africa and IRA compliance.

A: Mark LaVerghetta discusses IRA progress and equity ownership in African mines.

Q: Mike Niehuser asks about Carnegie mines and Africa operations.

A: Mark LaVerghetta talks about mine restarts and lithium/rare earth focus in Africa.