An unknown buyer entered into an unsolicited bid to acquire Metallurgical carbon division, American Carbon assets of American Resources Corporation on June 28, 2023. The unsolicited bid included $12 million in cash over the first six months, assumption of certain debts plus a structured royalty stream of up to $260 million in implied enterprise value over a twelve-year period. The proposal was not accepted due to the duration and structure of the consideration payments, but American Carbon remains committed to maximizing the value for shareholders including the sale, lease or expansion of production from the Company’s first-class metallurgical carbon assets.


An unknown buyer canceled the acquisition of Metallurgical carbon division, American Carbon assets of American Resources Corporation for $12 million on June 28, 2023.