American Resources provides business outlook

“Looking forward to the remainder of 2024, our belief in and the excitement over the opportunities we have in front of us continues to reach an all-time high. Our goal is to successfully spin-off ReElement Technologies and the majority of American Infrastructure this year with the appropriate value, capital structures and teams to execute as standalone businesses, and we feel confident we will accomplish that goal,” continued Jensen. “The opportunity for ReElement Technologies continues to rapidly manifest as the world searches for more efficient critical mineral supply chain solutions. The unique attributes of our technology puts us in a lead position to successfully deploy meaningful critical mineral refining capacity outside of China. It has always been our approach that utilizing the similar, solvent-based separation and purification technologies, as used in China, will be a challenge for most of the world, and we are starting to see those challenges manifest from an operational, cost and environmental perspective. As such, we believe we stand alone in our ability to produce ultra-pure products at large scale, and in an environmentally-safe and cost competitive process. This has enabled us to advance our focus on customer qualifications across multiple products and supply chains, procure appropriate feedstocks to feed our large-scale projects, secure offtake agreements with both planned magnet, cathode / battery manufacturers and advance the design and engineering our planned large-scale, commercial facilities in Marion, Indiana and Knott County, Kentucky. Our rapid execution of this tremendous growth opportunity is evidenced by the technical expertise at our Noblesville, Indiana Commercial Qualification Plant, the acquisition of our Marion super-site, the procurement of approximately $45 million in tax incentives from the municipality of Marion, and the successful execution of a bond purchase agreement for $150 million of Kentucky Industrial Building Revenue Bonds for our first-of-its-kind Kentucky Lithium refinery, to name a few. Our focus and approach are to capitalize the development and growth of our Marion Advanced Technology Center in a similar, non-dilutive manner, and we continue to work through that process. Additionally, our international growth plans are substantial, especially with unlocking stranded capital that has been invested into the supply chain, as well as certain African regions, to support a massive shift in global trade and manufacturing. ReElement sits in a very opportunistic position at the intersection of energy transition and national security and we remain steadfast on executing in a calculated and expedited manner to build substantial value for our Company, shareholders and stakeholders alike.”