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American Resources Corporation shores up its balance sheet by divesting non-core assets in Kentucky

American Resources Corporation (NASDAQ:AREC) CEO Mark Jensen tells Proactive the metallurgical carbon company has announced the divestiture of certain surface and mineral acres located near Phelps, Kentucky to boost the company’s balance sheet and position it for high-octane growth.

Jensen says the divestiture of these idle assets and environmental liabilities outside of the company's five-year business plan significantly reduces liabilities, holding costs and shares outstanding.

Quick facts: American Resources Corporation

Price: 1.52 USD

NASDAQ:AREC
Market: NASDAQ
Market Cap: $39.9 m
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American Resources to ramp up production as its acquires two more continuous...

American Resources Corporation (NASDAQ:AREC) CEO Mark Jensen tells Proactive it has signed a contract to acquire two additional continuous miners for its Perry County Resources mining complex in Hazard, Kentucky. Jensen says the firm anticipates restarting the complex within the next 30 days...

on 08/13/2020

2 min read