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American Resources (NASDAQ:AREC) said it filed its Form 10 registration statement with the SEC for the planned spinoff of its ReElement Technologies division into a standalone public company.
Form 10 includes ReElement’s goals as a standalone entity, such as ramping up to more than 25K tons/year of lithium from recycled materials and virgin ores, and ramping up to more than 2K tons/year of rare earth elements to go into permanent magnets.
ReElement will first undertake a series of reorganization transactions including converting from a limited liability company to a corporation, instituting a shared resource arrangement, and establishing an independent board of directors and executive officers.
American Resources (AREC) is targeting increased production of metallurgical coal, and the company is “set for a strong return,” Alberto Abaterusso writes in an analysis published on Seeking Alpha.
