American Resources (AREC) has secured a $5M inventory line of credit with Old National Bank. The credit facility enables American Resources to finance the procurement of end-of-life material, manufacturing scrap, ores and concentrated to be processed into high-value mineral feedstock. These feedstocks will be supplied to ReElement Technologies – American Resources’ minority-owned subsidiary and a leading U.S. refiner – for advanced separation, purification, and refinement into domestic, high-purity rare earth and critical mineral products.
TipRanks Cyber Monday Sale
- Claim 60% off TipRanks Premium for data-backed insights and research tools you need to invest with confidence.
- Subscribe to TipRanks' Smart Investor Picks and see our data in action through our high-performing model portfolio - now also 60% off
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on AREC:
- Largest borrow rate increases among liquid names
- American Resources’ ReElement enters Tokenization Services Agreement with SAGINT
- American Resources initiated with a Buy at Maxim
- American Resources Corp options imply 8.2% move in share price post-earnings
- American Resources’ ReElement enters recycled magnet processing agreement