Buy It or Sell It? American Resources Corp (NASDAQ:AREC) Is In News

American Resources Corp (NASDAQ:AREC) is one of the biggest percentage gainers in the pre-market session  after the news.

Major Trigger:

Ault Global Holdings Announces Investment to Increase Its Power Capacity at Its Michigan Technology Data Center Accelerating Growth to Projected Annual Gross Revenues Between $54 Million and $64 Million

Key Highlights:

  • today announced that, in conjunction with its sponsored research partnership with Purdue University, has successfully achieved a high purity of the rare earth element (REE), Neodymium (Nd), using its exclusively-licensed, ligand assisted displacement (“LAD”) chromatography process and technology.
  • Through the recycling of waste permanent magnets, the Company was able to separate, isolate and purify the inherent Neodymium to a 99.5 percent purity, a standard required for high quality permanent magnet manufacturing.
  • Neodymium belongs to the lanthanide series and is a rare earth element. Developed independently in 1984 by General Motors and Sumitomo Special Metals, Neodymium magnets are considered the strongest type of permanent magnet available commercially. Such magnets have replaced other types of magnets in many applications that require strong permanent magnets, such as electric motors, hard disk drives and magnetic fasteners.

Key Quote From

Mark Jensen, CEO of American Resources Corporation commented, “Having purification technology, as part of our “Capture, Process, Purify” technology process chain, that is able to produce isolated rare earth elements at a 99.5% purity or greater is a game changer for the commercialization and manufacturing of permanent magnets. Today we can say that we achieved this result alongside our technology partner at Purdue University at a cost point and environmental standard that is extremely competitive on a worldwide basis. This result is extremely exciting, and equally important for our nation as the demand and need for rare earth elements is growing at a pace north of 12% a year. We are not aware of any other technology in the world that can compete on costs or environmental standards and based on these results we are fully committed to bring this technology to the market as efficiently and effectively as possible.”

Market Reaction

As of 8:55, AREC is trading at $4.36, up 23.10%. So far more than 5.20 million shares have exchanged hands.

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