American Resources Corporation Funds Initial Shipments Of Lithium Ores And Provides Update On Ore Processing Site Selection
Portfolio Pulse from Happy Mohamed
American Resources Corporation (NASDAQ: AREC) has funded and commenced the initial shipment of lithium spodumene from South Africa to the US for refining. The company is in site selection for its initial South African refining facility and has narrowed down its US-based site selection for lithium refining capacity of 120,000 metric tons per year to four states.
June 27, 2023 | 12:34 pm
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AREC has funded and started shipping lithium spodumene from South Africa to the US for refining, and is selecting sites for refining facilities in both countries.
The news of AREC funding and commencing lithium ore shipments, as well as progressing in site selection for refining facilities, indicates the company's growth and expansion in the lithium market. This is likely to have a positive impact on the stock price in the short term as it demonstrates progress in their business strategy.
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