American Resources Corporation

Section 1: Company Overview and Fundamental Insights

Company Overview: American Resources Corporation (NASDAQ: AREC) is a raw materials solutions provider in the critical materials space for the rare earth magnet, lithium-ion battery and semiconductor elements supply chain for defense and commercial applications. Its primary operations are the production of rare earth and critical mineral concentrates through its internal operations from mining waste streams as well as through investment in various mines and recyclers that produce such concentrates. Kalkine’s Global Green Energy Report covers Key Positives/Negatives , Investment Highlights, Management Insights,  Key Financial Metrics, Risks, Technical Analysis, Target Price, and Recommendation on the stock.

1.2 The Key Positives, Negatives, Investment Highlights, Management Insights

1.3 Top 10 Shareholders:

The top 10 shareholders together form ~31.25% of the total shareholding. Golden Properties, Ltd. and White River Ventures LLC hold maximum stakes in the company at ~8.51% and ~4.81%, respectively.

1.4 Key Metrics: AREC’s gross margin turned positive at 7.2% in Q3FY25 vs -86.4% in Q3FY24. Below are captured other metrics:

Section 2: Business Updates, Financial and Operational Highlights

2.1 Recent Business Updates:

2.2 Q3FY25 Results Highlights (for the period ended 30 September 2025): Below are mentioned some key financial highlights:   

2.3 Historical Financial Trend

Section 3: Key Risks and Outlook:

Section 4: Stock Recommendation Summary

4.1 Price Performance and Technical Summary

The stock has declined by ~5.70% in the last one month, whereas over the last six months, it has corrected by ~37.68%. The stock has a 52-week low and high of USD 0.61 and USD 7.11, respectively, and is currently trading below the mid-point of its annual trading range. AREC was previously covered in a report dated ‘14 January 2022’.

Markets are trading in a highly volatile zone currently due to certain macro-economic issues and prevailing geopolitical tensions. Therefore, it is prudent to follow a cautious approach while investing.

Note 1: Past performance is neither an indicator nor a guarantee of future performance.

Note 2: The reference date for all price data, currency, technical indicators, support, and resistance levels is 28 April 2026. The reference data in this report has been partly sourced from REFINITIV.

Note 3: Investment decisions should be made depending on an individual's appetite for upside potential, risks, holding duration, and any previous holdings. An 'Exit' from the stock can be considered if the Target Price mentioned as per the Valuation and or the technical levels provided has been achieved and is subject to the factors discussed above.

Note 4: Kalkine reports are prepared based on the stock prices captured either from REFINITIV or Trading View. Typically, REFINITIV or Trading View may reflect stock prices with a delay which could be a lag of 25-30 minutes. There can be no assurance that future results or events will be consistent with the information provided in the report. The information is subject to change without any prior notice. 

Technical Indicators Defined: -

Support: A level at which the stock prices tend to find support if they are falling, and a downtrend may take a pause backed by demand or buying interest. Support 1 refers to the nearby support level for the stock and if the price breaches the level, then Support 2 may act as the crucial support level for the stock.

Resistance: A level at which the stock prices tend to find resistance when they are rising, and an uptrend may take a pause due to profit booking or selling interest. Resistance 1 refers to the nearby resistance level for the stock and if the price surpasses the level, then Resistance 2 may act as the crucial resistance level for the stock.

Stop-loss: It is a level to protect further losses in case of unfavourable movement in the stock prices.