American Resources Corporation Q4 FY2023 earnings call

• Unbundling assets to unlock value for shareholders and position entities as standalone companies. - Focus on positioning American Carbon and ReElement Technologies as standalone public companies, including securing growth capital like bonds. - ReElement Technologies' Kentucky lithium project as a key example of executing energy transition goals, using existing infrastructure and skilled workforce. - ReElement's process using chromatography to replace harsh solvents in refining, lower cost, more efficient, modularly scalable. - American Carbon's Wyoming and McCoy complexes ramping up production, focusing on low-cost mining operations.

Full year 2023 revenues were $16.7 million, a decline from 2022. Focus has been on positioning American Carbon and ReElement Technologies as standalone public companies. ReElement Technologies secured a $150 million net-of-fees industrial development bond for a lithium and critical mining mineral refinery in Kentucky. American Carbon secured a $45 million tax industrial bond for the Wyoming County Coal Complex. Details on revenue contribution by segment not extensively broken down in absolute terms and percentage but focus on these initiatives for each segment.

• Plan to spin off American Carbon and ReElement Technologies as standalone companies. - Ramping up production in Noblesville facility for ReElement. - Securing additional financing through bonds and government incentives. - Anticipated growth in revenue as divisions separate and ramp up operations. - Focus on minimizing dilution while bringing in necessary capital for growth.

• Market uncertainties affecting revenue from on-again, off-again customer relationships. - Operational challenges in ramping up mining and refining operations. - Risks associated with forward-looking statements and potential differences between actual results and projections.

Q: Can you give figures on the market opportunity in collaborations with German battery recycling platforms?

A: Duesenfeld and Battery Damage Services are partners, ReElement is a key solution for refining LFP batteries profitably, with potential substantial revenue from domestic and European relationships going forward.

Q: Bold statements about breaking China's monopoly, how does cost factor in?

A: Compete head-to-head on cost, not considering non-cash costs, with ReElement's technology being cost-competitive, even lower than China in some cases, especially with lithium production examples.

Q: State of operating Carnegie mines?

A: Carnegie mines were developed but not currently operating, focusing on ramping up Wyoming and McCoy complexes with international customers for stability.

Q: Spin-off of carbon, will Wyoming be part of it?

A: Yes, Wyoming County will be part of the American Carbon spin-off, including met coal division, iron ore platform, and rare earth concentration side.

Q: Feedstock and offtake balance for ReElement?

A: Feedstock is being secured, with multiple qualification processes with customers, and expected growth as Marion facility nears completion and IRA compliance offers opportunities.