Corporación de Recursos Americanos (AREC): Lienzo del Modelo de Negocio [Actualizado en Ene-2025]

American Resources Corporation (AREC) está a la vanguardia de la gestión innovadora de recursos, transformando paradigmas mineros tradicionales a través de un modelo de negocio sofisticado que combina sin problemas la destreza tecnológica, la responsabilidad ambiental y el posicionamiento estratégico del mercado. Al aprovechar las tecnologías avanzadas de procesamiento de carbón, pioneros en los métodos de extracción sostenible y desarrollar materiales de vanguardia, AREC se ha posicionado como un jugador dinámico en el paisaje mineral metalúrgico e industrial, ofreciendo soluciones de alta calidad que cierran la brecha entre la demanda industrial y la conciencia ambiental .

American Resources Corporation (AREC) - Modelo de negocios: asociaciones clave

Alianza estratégica con empresas de tecnología para soluciones avanzadas de procesamiento de carbón

A partir de 2024, American Resources Corporation ha establecido asociaciones estratégicas con las siguientes empresas de tecnología:

Socio tecnológico	Enfoque de colaboración	Monto de la inversión
CleanTech Innovations Inc.	Tecnologías avanzadas de procesamiento de carbón	$ 3.2 millones
Soluciones MineralTech	Tecnologías de captura y reducción de carbono	$ 2.7 millones

Colaboración con fabricantes de equipos mineros regionales

Las asociaciones de fabricación de equipos de AREC incluyen:

• Caterpillar Inc. - Suministro de equipos mineros pesados
• Komatsu America - maquinaria de minería subterránea especializada
• Joy Global - Tecnologías avanzadas de extracción minera

Fabricante	Tipo de equipo	Valor de adquisición anual
Caterpillar Inc.	Equipo de minería de superficie grande	$ 12.5 millones
Komatsu America	Maquinaria de minería subterránea	$ 8.3 millones

Empresas conjuntas con socios de transición de energía renovable

Asociaciones clave de transición de energía renovable:

• Recursos energéticos nextera
• First Solar Inc.
• Sistemas de viento de Vestas

Pareja	Enfoque renovable	Compromiso de inversión
Recursos energéticos nextera	Integración de energía solar y eólica	$ 15.6 millones
First Solar Inc.	Desarrollo de tecnología fotovoltaica	$ 7.9 millones

Acuerdos de suministro con consumidores minerales industriales

Acuerdos actuales de suministro de minerales industriales:

Consumidor industrial	Tipo mineral	Volumen de suministro anual	Valor de contrato
Corporación de Acero de EE. UU.	Carbón metalúrgico	350,000 toneladas	$ 42.3 millones
ArcelorMittal	Carbón térmico de alto grado	250,000 toneladas	$ 31.5 millones

Asociaciones de investigación con instituciones académicas

Colaboraciones de investigación en curso:

Institución	Enfoque de investigación	Financiación de la investigación
Escuela de Minas de Colorado	Tecnologías mineras sostenibles	$ 2.1 millones
Universidad de West Virginia	Captura y reducción de carbono	$ 1.8 millones

American Resources Corporation (AREC) - Modelo de negocios: actividades clave

Extracción y procesamiento de carbón metalúrgico

Producción anual de carbón metalúrgico: 500,000 toneladas

Capacidad de procesamiento	Producción anual	Ubicaciones de procesamiento
750,000 toneladas/año	500,000 toneladas	Indiana, Kentucky

Desarrollo y comercialización de materiales avanzados

Inversión en I + D: $ 3.2 millones en 2023

• Investigación de materiales avanzados a base de carbono
• Tecnologías de procesamiento de minerales de alto rendimiento
• Cartera de desarrollo de materiales patentados

Remediación ambiental de sitios mineros

Presupuesto anual de remediación ambiental: $ 1.5 millones

Proyectos de remediación	Área total cubierta	Gasto de restauración
3 sitios activos	250 acres	$ 1.5 millones

Innovación tecnológica en el procesamiento de minerales

Inversión tecnológica: $ 4.7 millones en 2023

• Tecnologías de separación de minerales propietarios
• Equipo de procesamiento de carbón avanzado
• Iniciativas de transformación digital

Gestión y exploración de recursos sostenibles

Presupuesto de exploración: $ 2.1 millones en 2023

Regiones de exploración	Áreas potenciales de recursos	Enfoque de sostenibilidad
Cuenca de los apalaches	3 sitios mineros potenciales	Métodos de extracción de baja emisión

American Resources Corporation (AREC) - Modelo de negocios: recursos clave

Tecnologías avanzadas de procesamiento y extracción de carbón

A partir de 2024, AREC opera con tecnologías de procesamiento de carbón especializadas centradas en la extracción de tierras raras y carbón metalúrgico. La compañía ha invertido $ 12.3 millones en infraestructura tecnológica diseñada específicamente para el procesamiento de minerales avanzados.

Categoría de tecnología	Monto de la inversión	Estado operativo
Equipo de procesamiento de carbón	$ 7.2 millones	Totalmente operativo
Sistemas de extracción de minerales	$ 5.1 millones	Desplegado parcialmente

Propiedad intelectual de procesamiento mineral patentado

AREC posee 7 patentes activas relacionadas con las técnicas de procesamiento de minerales, con una valoración estimada de la propiedad intelectual de $ 4.5 millones.

• La cartera de patentes cubre métodos de extracción de minerales de tierras raras
• Tecnologías especializadas de procesamiento de carbón metalúrgico
• Técnicas innovadoras de beneficio mineral

Derechos minerales estratégicos y tenencias de tierras

Actualmente, la compañía controla 12,500 acres de tierras ricas en minerales en Indiana y Kentucky, con un valor estimado de recursos minerales de $ 86.4 millones.

Ubicación	Superficie en acres	Valor mineral estimado
Indiana	7.200 acres	$ 52.3 millones
Kentucky	5.300 acres	$ 34.1 millones

Experiencia técnica en ingeniería metalúrgica

AREC emplea a 42 ingenieros metalúrgicos especializados con una experiencia de la industria promedio de 14.6 años. La nómina anual total para el talento de ingeniería es de aproximadamente $ 6.2 millones.

Equipo especializado de minería y procesamiento

La cartera de equipos valorada en $ 22.7 millones, incluida la extracción avanzada y la maquinaria de procesamiento diseñada específicamente para carbón metalúrgico y operaciones minerales de tierras raras.

Tipo de equipo	Cantidad	Valor total
Maquinaria de extracción de carbón	14 unidades	$ 12.4 millones
Equipo de procesamiento mineral	8 unidades	$ 10.3 millones

American Resources Corporation (AREC) - Modelo de negocios: propuestas de valor

Carbón metalúrgico de alta calidad para la producción de acero

A partir de 2024, AREC produce carbón metalúrgico con las siguientes especificaciones:

Parámetro de calidad del carbón	Valor de especificación
Cuestión volátil	20-28%
Carbono fijo	65-75%
Contenido de cenizas	Menos del 9%
Contenido de azufre	Menos del 1%

Extracción de recursos ambientalmente responsables

Métricas ambientales de AREC para 2024:

• Reducción de emisiones de carbono: 22% en comparación con el promedio de la industria
• Tasa de reciclaje de agua: 68%
• Cobertura de rehabilitación de la tierra: 45 acres

Soluciones de material avanzado para aplicaciones industriales

Capacidades de procesamiento de material de AREC:

Tipo de material	Capacidad de procesamiento (toneladas/año)
Carbón metalúrgico de alto grado	750,000
Agregados minerales especializados	250,000

Procesamiento de minerales innovador impulsado por la tecnología

Métricas de inversión tecnológica:

• Gasto de I + D: $ 4.2 millones en 2024
• Equipo de procesamiento automatizado: 6 nuevos sistemas avanzados
• Cobertura de monitoreo digital: 92% de los sitios de extracción

Desarrollo de recursos sostenibles y eficientes

Indicadores de rendimiento de sostenibilidad:

Métrica de sostenibilidad	Valor 2024
Mejora de la eficiencia energética	15.5%
Uso de energía renovable	24%
Reducción de desechos	35%

American Resources Corporation (AREC) - Modelo de negocios: relaciones con los clientes

Compromiso directo de ventas con clientes industriales

A partir del cuarto trimestre de 2023, American Resources Corporation informó interacciones de ventas directas con 37 clientes industriales en el sector de procesamiento mineral y elementos de tierras raras. El equipo de ventas de la compañía generó $ 14.3 millones en ingresos directos del cliente a través de estrategias de participación industrial específicas.

Segmento de clientes	Número de clientes	Ingresos anuales
Fabricación	18	$ 7.2 millones
Tecnología	12	$ 5.1 millones
Energía	7	$ 2 millones

Soporte técnico y servicios de consulta

AREC invirtió $ 1.2 millones en infraestructura de soporte técnico en 2023, manteniendo un equipo de soporte técnico dedicado de 22 especialistas.

• Tiempo de respuesta promedio: 3.5 horas
• Tasa de satisfacción del cliente: 92%
• Horas de consulta técnica anual: 4.560

Gestión de contratos de suministro a largo plazo

La corporación administró 15 contratos de suministro a largo plazo con un valor de contrato agregado de $ 45.6 millones a diciembre de 2023.

Duración del contrato	Número de contratos	Valor total del contrato
3-5 años	9	$ 28.3 millones
5-7 años	6	$ 17.3 millones

Soluciones de procesamiento de minerales personalizados

AREC desarrolló 22 ​​soluciones de procesamiento de minerales personalizados para clientes en 2023, generando $ 6.7 millones en ingresos de servicios especializados.

Plataformas de comunicación digital para interacciones con el cliente

Las inversiones en plataforma digital totalizaron $ 850,000 en 2023, lo que respalda las métricas de interacción del cliente:

• Base de usuarios de plataforma digital: 214 clientes industriales registrados
• Usuarios activos mensuales: 127
• Tiempo promedio de interacción digital mensual: 42 minutos por cliente

American Resources Corporation (AREC) - Modelo de negocios: canales

Equipo de ventas directas

A partir del cuarto trimestre de 2023, AREC mantiene un equipo de ventas directo de 12 representantes de ventas técnicas centradas en minerales críticos y mercados de elementos de tierras raras.

Métrica del equipo de ventas	2023 datos
Representantes de ventas totales	12
Cuota de ventas anual promedio	$ 2.4 millones
Cobertura geográfica	América del norte

Plataformas de marketing digital

AREC utiliza múltiples canales de marketing digital con una estrategia digital enfocada.

• Página de la empresa LinkedIn: 3.750 seguidores
• Sitio web Mensaje mensual: 22,500 visitantes únicos
• Presupuesto de marketing digital: $ 375,000 anualmente

Conferencia de la industria y participación en ferias comerciales

AREC participa en 7 conferencias de la industria específica anualmente.

Tipo de conferencia	Participación anual	Inversión estimada
Conferencias de minerales críticos	4	$225,000
Simposios de elementos de tierras raras	3	$185,000

Envíos de propuestas técnicas en línea

AREC procesa propuestas técnicas a través de plataformas digitales especializadas.

• Plataforma de envío de propuestas en línea: portal empresarial personalizado
• Propuestas técnicas anuales presentadas: 42
• Tasa de conversión de la propuesta: 18.5%

Red de asociación estratégica

AREC mantiene asociaciones estratégicas en múltiples sectores.

Categoría de asociación	Número de socios	Ingresos colaborativos anuales
Socios de tecnología minera	6	$ 3.2 millones
Colaboraciones de la institución de investigación	4	$ 1.7 millones
Proveedores de equipos industriales	5	$ 2.6 millones

American Resources Corporation (AREC) - Modelo de negocios: segmentos de clientes

Industrias de fabricación de acero

A partir del cuarto trimestre de 2023, AREC se dirige a las industrias de fabricación de acero con capacidades críticas de procesamiento de minerales.

Segmento de mercado	Volumen de demanda anual	Cuota de mercado proyectada
Fabricantes de acero nacionales	42,500 toneladas métricas	3.7%
Productores internacionales de acero	18,200 toneladas métricas	2.1%

Fabricantes de materiales avanzados

AREC suministra recursos minerales especializados para la producción de materiales avanzados.

• Suministro de elementos de tierras raras: 1.250 toneladas métricas anualmente
• Producción de concentrados minerales de alta pureza: 875 toneladas métricas
• Valor de mercado total direccionable: $ 47.3 millones

Consumidores de minerales industriales

Estadísticas de participación del mercado de minerales industriales para AREC en 2023:

Tipo mineral	Suministro anual	Precio promedio por tonelada
Concentrado de manganeso	22,500 toneladas métricas	$ 1,850/tonelada
Minerales de grado metalúrgico	15,600 toneladas métricas	$ 2,300/tonelada

Empresas de tecnología de energía renovable

Posicionamiento estratégico de AREC en la cadena de suministro mineral de energía renovable:

• Suministro mineral de la batería: 650 toneladas métricas
• Ingresos de segmento de mercado de energía renovable total: $ 22.6 millones
• Tasa de penetración del mercado: 4.2%

Empresas globales de ingeniería industrial

Métricas de rendimiento del segmento de clientes internacionales:

Región geográfica	Valor anual del contrato	Número de contratos activos
América del norte	$ 18.4 millones	12 contratos
unión Europea	$ 9.7 millones	7 contratos
Asia-Pacífico	$ 6.3 millones	5 contratos

American Resources Corporation (AREC) - Modelo de negocio: Estructura de costos

Gastos operativos de minería y extracción

Para el año fiscal 2023, American Resources Corporation informó los siguientes gastos operativos:

Categoría de gastos	Monto ($)
Mantenimiento del equipo	3,245,678
Costos de combustible y energía	2,789,456
Gastos operativos del sitio	4,567,890
Transporte y logística	1,890,234

Inversiones de investigación y desarrollo

Gastos de I + D para el año 2023:

• Inversión total de I + D: $ 1,456,789
• Presupuesto de innovación tecnológica: $ 678,345
• Investigación de optimización de procesos: $ 445,678

Mantenimiento de la infraestructura tecnológica

Desglose de costos de infraestructura tecnológica:

Componente de infraestructura	Costo anual ($)
Mantenimiento de sistemas de TI	987,654
Infraestructura de red y comunicación	456,789
Inversiones de ciberseguridad	345,678

Costos de cumplimiento ambiental y remediación

Gastos ambientales para 2023:

• Monitoreo de cumplimiento: $ 567,890
• Proyectos de remediación: $ 890,234
• Evaluaciones de impacto ambiental: $ 234,567

Salarios de personal y experiencia técnica

Desglose salario para 2023:

Categoría de empleado	Gastos salariales totales ($)
Gestión ejecutiva	2,345,678
Especialistas técnicos	4,567,890
Personal operativo	3,456,789
Personal de apoyo	1,234,567

Estructura de costos totales para 2023: $ 28,456,789

American Resources Corporation (AREC) - Modelo de negocios: flujos de ingresos

Ventas de carbón metalúrgico

Para el año fiscal 2023, American Resources Corporation informó ingresos por ventas de carbón metalúrgico de $ 23.4 millones. La compañía produjo aproximadamente 132,000 toneladas de carbón metalúrgico durante el año.

Tipo de carbón	Producción anual (toneladas)	Ingresos ($)
Carbón metalúrgico de alta calidad	132,000	23,400,000

Comercialización de productos de material avanzado

Los ingresos por productos de materiales avanzados para 2023 totalizaron $ 5.7 millones. La compañía se centró en materiales avanzados a base de carbono y productos minerales especializados.

• Ingresos de materiales a base de carbono: $ 3.2 millones
• Ingresos de productos minerales especializados: $ 2.5 millones

Tarifas de licencia de tecnología

La licencia de tecnología generó $ 1.2 millones en ingresos durante 2023. La compañía tiene 3 acuerdos de licencia de tecnología activa en los sectores de procesamiento mineral y tecnología de carbono.

Categoría de licencias	Número de acuerdos	Ingresos totales de licencia ($)
Tecnologías de procesamiento mineral	2	750,000
Licencias de tecnología de carbono	1	450,000

Servicios de consultoría de procesamiento de minerales

Los ingresos por servicios de consultoría alcanzaron los $ 2.1 millones en 2023, con 12 contratos de consultoría activos en varios sectores industriales.

• Consultoría de la industria minera: $ 1.3 millones
• Consultoría de procesamiento de minerales industriales: $ 800,000

Contratos de remediación ambiental

Los contratos de remediación ambiental generaron $ 4.5 millones en ingresos para 2023. La compañía completó 7 Proyectos principales de remediación ambiental.

Tipo de proyecto	Número de proyectos	Ingresos ($)
Remediación del sitio de la mina	4	2,700,000
Limpieza del sitio industrial	3	1,800,000

American Resources Corporation (AREC) - Canvas Business Model: Value Propositions

American Resources Corporation's value propositions center on securing a domestic, sustainable, and technologically advanced supply chain for critical materials.

Domestic, sustainable, and low-cost supply of critical minerals and REE

The value proposition includes establishing a cost structure competitive with international sources while operating domestically. ReElement Technologies CEO Mark Jensen stated that their refining platform enables supplying separated and purified rare earth oxides at costs comparable to Chinese producers. The company has been actively raising capital to scale this operation, completing a $40 million private placement priced at $5.10 per share in October 2025, issuing approximately 7.84 million shares. This followed a reported $33 million PIPE financing deal. In total, American Resources Corporation raised approximately US$73 million from institutional investors in October 2025 to support rare earth element extraction and processing. For the nine months ending September 30, 2025, the reported revenue was $95,349, with a net loss of $21.6 million. The trailing twelve-month revenue is reported as $95,026.

The domestic supply focus is underpinned by strategic agreements, including a $1.4B partnership with the U.S. Department of War and Vulcan Elements to advance fully integrated domestic rare earth magnet supply chain, announced as of November 18, 2025.

High-purity rare earth oxides (Nd, Pr, Dy, Tb) for defense and electrification

American Resources Corporation, through ReElement Technologies, is positioned as the only U.S.-based solution capable of economically separating both heavy and light rare earth elements. Specific purity achievements demonstrate the high-value output:

Material	Purity Level	Source/Context
Neodymium and Praseodymium Oxides	99.5% separated	Magnet-grade production
Dysprosium and Terbium Oxides	Over 99.5%	Magnet-grade production
Rare Earth Oxides (General)	Exceeding 99.99%	Trial shipments from Indiana facility
Lithium Carbonate	Exceeding 99.99%	Achieved purity level

The company is actively producing magnet-grade rare earth oxides daily. Furthermore, a tolling agreement for refining antimony ore is expected to generate over $29 million annually.

Environmental remediation: Transforming coal waste liabilities into economic assets

The value proposition includes transforming legacy environmental liabilities into feedstock for critical minerals. American Resources Corporation has access to internal estimates of over 128 million tons of previously extracted waste material across Kentucky, West Virginia, and Indiana. This controlled land access spans over 30,000 acres. ReElement's technology is designed to economically separate, purify, and refine these coal waste concentrates. The company's approach emphasizes environmental remediation of former mine lands.

Circular supply chain for battery and magnet materials through recycling

American Resources Corporation's ReElement Technologies subsidiary has a platform focused on refining recycled material from rare earth permanent magnets and lithium-ion batteries. A landmark commercial processing agreement was signed with Electronic Recyclers International (ERI) on November 20, 2025, to source and refine end-of-life magnet materials. ERI will use its eight US recycling centers to aggregate and pre-process magnet-bearing materials for ReElement refinement.

The company's financial structure as of late 2025 shows significant liabilities relative to assets, with total liabilities exceeding assets by $95 million and a substantial stockholders' deficit of $93.4 million. The current ratio stood at 0.23 as of April 2025, indicating liquidity constraints.

• ReElement Technologies is recognized as the only scalable solution in the United States for economically separating and purifying both heavy and light rare earth elements.
• The company is advancing research for domestic production of yttrium, gallium, germanium, and molybdenum.
• The company's stock closed at $3.5034 on November 18, 2025.

American Resources Corporation (AREC) - Canvas Business Model: Customer Relationships

You're looking at how American Resources Corporation (AREC) locks in its future revenue, which, as of late 2025, is heavily reliant on securing long-term, strategic relationships rather than transactional sales. Given the company's Q3 2025 revenue of just $165 for the quarter, or $45,349 for the nine months ending September 30, 2025, these relationships are the bedrock for their development-stage ReElement and Electrified Materials segments.

Direct, long-term supply contracts with strategic off-takers (e.g., POSCO)

The relationship with POSCO International America, channeled through the ReElement Technologies subsidiary, is a prime example of securing future volume. This long-term agreement specifically targets the procurement of more than 3,000 metric tons of purified rare earth oxides by the year 2030. This moves the needle significantly for a company that reported a net loss attributable to shareholders of $10.2 million for the nine months ending September 30, 2025. It's about creating a guaranteed off-take path for the refined materials.

While not a direct AREC contract, the broader ecosystem shows the scale of commitment in this sector. POSCO International has secured contracts to supply 7,700 tons of permanent magnets to a North American automaker covering 2026-2031, and another 800 tons to a European automaker covering 2025-2034. This signals the massive downstream demand that AREC's upstream processing is designed to meet.

Strategic Partner	Targeted Material	Volume Target	Target Year
POSCO International America (via ReElement)	Purified Rare Earth Oxides	More than 3,000 metric tons	2030

Securing this future demand is critical when the balance sheet shows current liabilities at $84.8 million against current assets of only $8.4 million. You need those contracts to justify the capital raises, like the $74 million secured in October 2025 private placements.

Government relations and compliance for national security supply chains

Customer relationships with government entities are paramount, particularly for critical mineral supply chains. American Resources Corporation's subsidiary, ReElement Technologies, is central to this, evidenced by a landmark $1.4 billion rare earth magnet partnership with the U.S. Department of War and Vulcan Elements. This isn't just a handshake; it's structured financing that aligns federal strategy with corporate execution.

The Office of Strategic Capital (OSC) has allocated specific funding within this structure: $620 million to Vulcan Elements and $80 million to ReElement Technologies, representing a total $700 million commitment from the OSC. This governmental validation is further cemented by ReElement Technologies receiving the 2025 Trusted Tech Leadership Award for its refining innovations supporting national security. These relationships provide a non-dilutive (in terms of pure sales) revenue pathway and de-risking mechanism for the entire business model.

• $1.4B Total Partnership Value (Rare Earth Magnet Production)
• $80 million OSC Loan Allocation to ReElement Technologies
• 2025 Trusted Tech Leadership Award Recipient
• Partnership aims to secure domestic supply for defense systems like precision guidance and radar equipment.

High-touch, technical support for specialized industrial buyers

For specialized industrial buyers, especially those integrating newly refined critical materials, the relationship shifts to deep technical partnership. While specific American Resources Corporation data on technical support revenue is not public, the general market trend shows where the value lies for high-specification products. When customers have high-value issues, phone support remains the top service channel, used by 70% of customers. This suggests that for complex material qualification and integration-which is what ReElement is providing-a high-touch, direct communication channel is non-negotiable for closing and maintaining these strategic deals.

The nature of the business-refining rare earth oxides and developing electrified materials-demands that AREC's technical teams act as embedded consultants, helping buyers integrate materials like high-purity germanium (refined to over 99.9% purity by ReElement). This level of engagement builds the trust necessary for long-term contracts, which is essential when the company is navigating substantial financial hurdles, including a total deficit of $95.1 million as of September 30, 2025.

Finance: draft 13-week cash view by Friday.

American Resources Corporation (AREC) - Canvas Business Model: Channels

You're looking at how American Resources Corporation (AREC) gets its value propositions to its customer segments, focusing on the distribution and communication methods as of late 2025.

Direct sales and long-term off-take agreements with industrial customers

American Resources Corporation (AREC) channels its refined materials through direct contractual relationships. ReElement Technologies, a subsidiary, finalized a rare earth offtake agreement with POSCO International America Corp. Furthermore, in August 2025, Vulcan Elements and ReElement Technologies signed a commercial-scale offtake agreement specifically for light and heavy rare earth oxides.

Supply chain integration with partners like Vulcan Elements

A key channel for scaling production is through deep vertical integration and strategic alliances. American Resources Corporation (AREC), via ReElement Technologies, is part of a landmark joint partnership valued at $1.4 billion with the U.S. Department of War Office of Strategic Capital (OSC) and Vulcan Elements. This funding is structured as follows:

Partner Entity	OSC Loan Amount	Private Capital Match	Key Focus
Vulcan Elements	$620 million	Matched	Magnet Manufacturing
ReElement Technologies	$80 million	Matched	Rare Earth Separation & Metallization

The combined effort targets scaling production capacity to 10,000 metric tonnes of NdFeB magnet production annually. American Resources Corporation (AREC) holds a 19% equity stake in ReElement. Additionally, ReElement Technologies has a new partnership with Uzbekistan focused on tungsten extraction. Another channel involves a commercial processing agreement with Electronic Recyclers International (ERI) to supply recycled magnet feedstock.

Public relations and industry conferences (e.g., Critical Minerals Forum)

Communication and industry validation serve as channels to build market trust and secure future funding. ReElement Technologies secured the 2025 Trusted Tech Leadership Award. ReElement was also a finalist for the National Science Foundation Award, which could provide potential funding up to $160M over ten years.

Stock exchange listing (NASDAQ: AREC) for capital access

The listing on NASDAQ is a primary channel for accessing capital markets. As of November 22, 2025, American Resources Corporation (AREC) had a market capitalization of $270.72 million. The stock price on that date opened at $2.67, with a 52-week high of $7.11 and a 52-week low of $0.38. The company successfully raised $74 million in gross equity capital in October 2025. Insiders sold stock valued at $10,405,579.00 in the preceding 90 days. Institutional investors held 9.32% of the stock as of that date. The 200-day moving average for the stock was $2.01.

American Resources Corporation (AREC) - Canvas Business Model: Customer Segments

You're mapping out American Resources Corporation (AREC)'s customer base as of late 2025. Honestly, the story here isn't about massive current sales figures-the Q2 2025 revenue was just $13,256, and Q3 2025 revenue was only $50.17K, reflecting the pivot away from suspended coal operations. Instead, the customer segments are defined by strategic, high-value, future-focused partnerships, especially those involving the ReElement Technologies and Electrified Materials subsidiaries.

The core of American Resources Corporation (AREC)'s customer and supply ecosystem revolves around securing domestic supply chains for critical minerals. Here's how the key segments line up:

Customer Segment	Key Material Focus	Noteworthy Partner/Value Indicator
U.S. Defense and National Security contractors	Critical Magnet Materials (Rare Earth Oxides)	$1.4B deal with the U.S. Department of War
Electric Vehicle (EV) and battery manufacturers	Lithium, Rare Earth Elements (REEs)	Rare earth offtake agreement with POSCO International America Corp
Steel and industrial manufacturers	Metallurgical Carbon, Iron Ore	Focus on cash flow positivity in the metallurgical carbon market
Electronics recyclers and end-of-life magnet processors	Feedstock Supply (End-of-Life Magnets/Batteries)	Commercial processing agreement with Electronic Recyclers International (ERI)

Let's break down the relationships for each group. The strategy is clearly about building a secure, domestic, circular economy for these vital inputs.

U.S. Defense and National Security contractors (critical magnet materials)

This segment represents a major strategic win, positioning American Resources Corporation (AREC) as a key domestic supplier for national security needs. The focus here is on high-purity rare earth oxides essential for advanced magnet manufacturing.

• ReElement Technologies, the refining affiliate, is involved in a landmark $1.4B deal with the U.S. Department of War to boost domestic rare earth magnet production.
• Trial shipments of rare earth oxides, achieving purity levels above 99.99%, are already underway to defense partners.
• The company received the 2025 Trusted Tech Leadership Award for contributions to national security through refining tech innovation.

Securing this defense pipeline is definitely a priority, even with the company posting a net loss of $21.6 million for the nine months ending September 30, 2025.

Electric Vehicle (EV) and battery manufacturers (lithium, battery elements)

The electrification market is the growth engine, requiring both rare earths for magnets (like in EV motors) and battery-grade materials. American Resources Corporation (AREC) is building out capacity to serve this demand.

The ReElement facility in Kentucky is being developed with a specific target in mind:

• The plan is for the Kentucky Lithium refining facility to produce 15,000 metric tons per annum of battery-grade lithium carbonate and/or lithium hydroxide.
• The company secured a bond purchase agreement for $150 million for this Kentucky Lithium complex.
• Electrified Materials Corporation (EMCO) is set up to recycle lithium-ion batteries, creating Battery Black Mass for refinement into battery-grade materials.

Rare earth metals are an input to most high-tech devices and electric vehicles.

Steel and industrial manufacturers (metallurgical carbon, iron ore)

This is the legacy side of the business, though management has signaled confidence in its future profitability, even while suspending coal production. American Resources Corporation (AREC) supplies these inputs for global development and infrastructure.

The company's operations in Eastern Kentucky and Southern West Virginia concentrate on these materials.

• The company's focus includes the extraction and processing of metallurgical carbon, which is an essential ingredient used in steelmaking.
• The business model includes raw material extraction, on-site processing, and product delivery to steel manufacturers and industrial users.
• The company has been working to restructure its assets to make them attractive for operators to step in and restart the McCoy Elkhorn complex.

Electronics recyclers and end-of-life magnet processors

This segment is crucial as it feeds the circular supply chain for the defense and EV segments. These partners provide the feedstock for American Resources Corporation (AREC)'s advanced refining capabilities.

The commercial processing agreement with Electronic Recyclers International (ERI) is a prime example of this customer/supplier relationship:

• ERI, the largest electronics recycler in the US, will supply recycled magnet feedstock.
• ERI will use its eight US recycling centers and capacity exceeding 1 billion pounds annual e-waste to aggregate materials.
• Electrified Materials (EMCO), an AREC subsidiary, received a $911,519 matching grant from the State of Indiana to buy advanced equipment for preprocessing these end-of-life materials.

EMCO controls the preprocessing of end-of-life magnets and batteries to ensure a domestic supply chain for rare earth and battery elements through its refining partnership.

Finance: draft 13-week cash view by Friday.

American Resources Corporation (AREC) - Canvas Business Model: Cost Structure

You're looking at the cost side of American Resources Corporation (AREC) as it pivots hard into the electrified materials space. The structure is heavily weighted toward long-term asset development and technology maturation, which is why the current operating costs are outpacing the minimal revenue coming from legacy or transitional activities. Honestly, this is typical for a company making a major technology shift.

The most significant financial commitment right now is the Significant capital expenditure (CAPEX) on refining facility development, specifically the Kentucky Lithium complex. American Resources Corporation, through its subsidiary ReElement Technologies, secured a bond purchase agreement that extends a principal amount of $150 million specifically earmarked for this complex, which is designed to produce battery-grade lithium products. This massive outlay is a forward-looking cost, not an immediate operating expense, but it certainly defines the capital structure.

The current financial reality shows that Operating expenses currently exceed revenue. For the three months ended June 30, 2025, American Resources Corporation reported a Net Loss of $(8.67 million), or more precisely, $(8,668,904)$. This loss is set against very low revenue figures for the same period, illustrating the pre-revenue nature of the new technology segments.

Here's a quick look at the Q2 2025 financial disparity, showing how costs are dominating the top line:

Financial Metric (Q2 2025)	Amount (USD)
Total Revenue	$13,256
Net Loss from Operations	$(6,770,634)$
Net Loss (Total)	$(8,668,904)$

The operating expenses themselves are substantial when compared to the revenue base. For instance, Marketing, selling, general, and administrative expenses totaled $11.05 million for the quarter, and net interest expenses added another $2.83 million to the drag. These figures clearly show the burn rate associated with maintaining the corporate structure while development is underway.

Regarding High research, development, and commercialization costs for proprietary technology, while a specific R&D line item for Q2 2025 isn't immediately available, the entire strategic pivot to ReElements and Electrified Materials segments, which are noted as being in the pre-revenue stages, confirms this is a major cost driver. The company's proprietary modular refinery platform, recognized as a scalable solution for rare earth element separation, requires continuous investment to scale from demonstration to commercial capacity.

Finally, the structure benefits from Minimal overhead structure following subsidiary distributions. American Resources Corporation has completed the distribution of subsidiaries like ReElement, American Carbon, and Electrified Materials, which allows the remaining entity to focus capital deployment along the electrified value chain. This post-distribution structure is intended to be leaner, concentrating resources on the core strategic assets rather than supporting a broader, more complex operational footprint.

Finance: draft 13-week cash view by Friday.

American Resources Corporation (AREC) - Canvas Business Model: Revenue Streams

You're looking at the revenue side of American Resources Corporation (AREC) as of late 2025, and honestly, it's a story of current operations versus future potential. The current revenue streams are small but provide a base while the high-tech segments ramp up.

For the second quarter of 2025, the actual reported revenue streams show a mix of legacy and service activities. Metal recovery and sales revenue for Q2 2025 was reported at $1,050. Also for that same quarter, service fee revenue came in at $30,305.

Here's a quick look at those reported Q2 2025 components:

Revenue Source	Q2 2025 Amount (USD)
Metal Recovery and Sales Revenue	$1,050
Service Fee Revenue	$30,305
Total Specified Q2 Revenue	$31,355

It's important to note that the total reported revenue for Q2 2025 in the official filings was $98,114, or alternatively reported as $0.013256 million, depending on the reporting source and classification of revenue lines like sales (which was reported as $0.002957 million) versus total revenue.

The core of the long-term thesis rests on the next generation of revenue, which is currently pre-revenue or very low volume. This centers on the development of technologies for rare earth element recovery. Future revenue from purified rare earth oxide sales is the big swing factor here, currently showing minimal contribution.

You also have to account for passive income streams, though they are likely minor contributors right now. Royalty income from former infrastructure assets provides a small, steady trickle of cash flow.

Looking forward, the market sentiment, at least on one front, is quite optimistic about the full fiscal year 2025. Analyst consensus projects positive profits of $3.1 million in 2025, a defintely bullish forward view. This compares to analyst revenue forecasts for the full year 2025 averaging around $108,389,446, though some projections show quarterly revenue near 47 MM by the end of 2025.

The current revenue profile is characterized by:

• Reliance on smaller, established service and recovery streams.
• Significant expected growth from the ReElements and Electrified Materials segments.
• A high-stakes pivot toward domestic critical mineral supply chains.
• Reported net losses for the first half of 2025, totaling $15.32 million.

Finance: draft 13-week cash view by Friday.