American Resources Corporation

Stand by, your program is about to begin. If you need audio assistance during today's program, please press star zero. Good day, everyone, and welcome to today's American Resources Corporation third quarter 2023 conference call. At this time, all participants are in a listen-only mode. Later, you will have the opportunity to ask questions during the question and answer session. You may register to ask a question at any time by pressing the star and one on your telephone keypad. You may withdraw yourself from the queue by pressing star and two. Please note this call may be recorded, and I will be standing by if you should need any assistance. It is now my pleasure to turn the conference over to Mark LaBergeta. Please go ahead, sir.

Thank you. Good afternoon, everyone. On behalf of American Resources Corp., I'd like to welcome everyone to our third quarter of 2023 conference call and business update. We do always welcome this opportunity to provide an update on our business and discuss our accomplishments we've made over the past several months. and how we are uniquely positioned within the markets that we serve for American carbon, American metals, and re-element technologies. Also on the call today is Mark Jensen, American Resources Chairman and CEO, Kirk Taylor, our Chief Financial Officer, and Tom Salve, our President. Mark and Kirk and I, the three of us, will provide some prepared remarks, then we'll get into some question and answers part. Before we kick it off, though, I'd like to remind everyone of our normal cautionary statement. Certain statements discussed on today's call constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act. These forward-looking statements are subjects to risks, uncertainties, and other factors that could cause actual results to differ materially from the results discussed in those forward-looking statements. When considering forward-looking statements, you should keep in mind the risk factors, uncertainties, and other cautionary statements which are laid out in our press releases and SEC filings. We also do not undertake any obligation to update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise. Lastly, for anyone wanting to ask a question today, I believe you will need to dial in by phone to get into the queue. And we're going to begin today with a few comments from Kirk Taylor, our Chief Financial Officer. Kirk?

Yeah, thank you, Mark, and thank you, everyone, for taking a few moments out of your afternoon. Over the past several months, we have continued our execution on fortifying our strategic positioning within our addressable markets, which we believe positions our company for attractive long-term value creation. In doing so, and in conjunction with the direction of our strategic committee, we have embarked on several initiatives to unbundle our unique platform of assets to better unlock value for our shareholders and position each entity as a standalone company. We will go into some detail on several of these initiatives throughout this call. First, I'll start with the update on re-element technologies. As we've previously discussed, our intention is to separate our wholly owned re-element technology division into a standalone public company, given its strategic positioning and groundbreaking innovation as a world-leading refining technology platform using our patented chromatography technology to refine critical minerals as well as rare earth elements. We believe Realment is a very unique entity and provides investors with a tremendous value proposition. This past January, we filed our initial Form 10 registration statement with the SEC to begin that process. We have addressed all the comments and questions from the SEC regarding the spinoff and separation and feel that we are in a good position to continue to update our filings as it relates to quarterly updates and periodic news flow. All of our filings related to this can be found at sec.gov under Re-Element Technologies. We also converted Re-Element Technologies LLC to Indiana Corporation to further advance the separation process. We recently announced a bond offering approval in an amount up to $150 million to finance our dedicated lithium refining facility in Knott County, Kentucky. We're tremendously excited to work with the local county and the workforce there to develop a unique platform as a domestic refiner of lithium battery grade lithium we also recently closed on our previously announced nearly 45 million dollar tax increment financing bond for our marion refining facility again we tremendously look forward to working with local community workforce and government to enhance both of these projects we continue to discuss many strategic relationships, both in commercial and financial arrangements, with domestic and worldwide partners on re-element. Every day is exciting, and every day we are progressing. Next, I'll touch on our SPAC. So I've previously discussed American Resources-sponsored AMAO, American Acquisition Opportunity, Inc. We are extremely proud of our team with the execution of the recent closing of the merger between our sponsor, SPAC, American Acquisition Opportunity, and its target, Realty Management Corporation. American Acquisition Opportunity Inc. has been renamed Realty Management Holding Corporation and now trades on NASDAQ under RMCO and its warrants RMCOW. When we had IPO'd AMAO as its main sponsor, we sought out to merge with a dynamic cash-selling company that did not require a complicated or highly dilutive financing as part of this D-SPAC process. We wanted to make sure it was a clean platform to thrive as a public company. After assessing a number of potential targets with several requiring complex structures, we paved the path forward to bring Royalty Management Corporation to the public markets through the D-SPAC merger with AMAO. As a reminder, RMCO is a next-generation royalty company focused on expanding its current cash flow and revenue streams by identifying undervalued assets within sectors including natural resources, land, sustainable development, controlled environment, agriculture, and intellectual property, while constructively supporting the communities in which those businesses operated. Following the closing of this transaction, American Resources remained the shareholder of approximately 3.25 million shares and warrants in a fully diluted basis. The underlying Registration of these shares was filed yesterday, and I would direct anyone wanting to learn more information to go to sec.gov, search under RMCO, and you'll find all the relevant filings. And again, to reiterate, as of last week, the combined company trades under RMCO on NASDAQ as a royalty management holding corporation. Now I'll dive into our quarterly summary. Over the third quarter of 2023, we again showcased our operational flexibility, operating cashflow positively, and generated approximately 3.5 million net income while continuing to position our unique set of assets while executing on our value creating initiatives. The only new debt that we took on over the past two quarters was associated with the issuance of the tax exempt industrial development bond for the development of our Wyoming County West Virginia Binding Complex. as well as mine development financing from one of our key customers. It developed a Carnegie I and Carnegie II expansion. As of today, November 14, 2023, our current shares outstanding is just over 78.2 million Class A common shares. Cash on hand as of the end of the third quarter was approximately 44.7 million. Lastly, and it's probably worth reiterating, All of our excess cash above FDIC limits are held at a top two U.S.-based bank. Our unique platform of assets is in great position to deliver what we believe is attractive returns and value to our shareholders, including our mining assets, our re-element technologies division, as well as our American metals division, which we are in the process of strategically positioning within the electrified economy. I'd like to now turn the call over to Mark LaBrigueda, for some additional comments. Mark?