Microvast Holdings announces departure of chief financial officer
FISHERS, IN - American Resources Corporation (NASDAQ:AREC), a small-cap company with a market capitalization of $68.21 million and current share price of $0.82, confirmed it remains in compliance with Nasdaq listing standards following a notification about a delayed quarterly filing, according to a statement based on the company’s Form 8-K filed on May 30.
The critical minerals supplier received a letter from Nasdaq on May 29 indicating its Form 10-Q for the quarter ended March 31, 2025, had not been filed in accordance with listing rules. However, the company had already submitted the required document on May 28, maintaining compliance with continued listing standards when the notification was issued. InvestingPro analysis reveals the company operates with significant debt burden and is quickly burning through cash, highlighting the importance of timely financial reporting.
"Transparency, governance and compliance is a paramount focus of our team," said Mark Jensen, CEO and Chairman of American Resources, in the press release statement.
American Resources describes itself as a supplier of raw materials to infrastructure markets, with operations focused on metallurgical carbon extraction and processing in the Central Appalachian basin of eastern Kentucky and southern West Virginia. The company also operates ReElement Technologies Corporation, which focuses on refining rare earth and critical battery elements.
The company’s statement was issued through a press release on June 10, 2025, and contained forward-looking statements subject to risks and uncertainties as defined under the Private Securities Litigation Reform Act of 1995.
In other recent news, American Resources Corporation has secured a Letter of Interest from the Export-Import Bank of the United States for up to $150 million to expand its Marion Advanced Technology Center. This facility is set to become a significant player in the rare earth and critical mineral refinery sector. The company is also addressing compliance issues, having received a Nasdaq delisting notice due to a late filing of its Form 10-Q. However, American Resources reported that it had filed the required document just before receiving the notice, ensuring compliance with Nasdaq’s standards.
Additionally, American Resources has extended its antimony refining contract to ten years, which is expected to generate over $29 million annually. This move is aimed at strengthening domestic supply chains, especially after China’s critical mineral export ban to the U.S. The company has also completed the sale of its subsidiary, American Infrastructure Corporation, to CGrowth Capital, marking a strategic separation.
Furthermore, American Resources has appointed Tony Carroll to the Board of Directors of ReElement Technologies Africa Ltd. Carroll’s extensive experience in U.S.-Africa trade and policy is anticipated to enhance the company’s partnerships across Africa. These developments underscore American Resources’ efforts to bolster its position in the critical mineral supply chain and infrastructure markets.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.