American Resources shares dropped 2% after reports the Pentagon may reconsider an $80 million conditional loan to ReElement Technologies, where AREC holds a minority stake.
The loan is part of a $1.4 billion critical‑minerals initiative announced in November, also involving Vulcan Elements Inc.
Pentagon officials cited doubts on ReElement’s ability to scale technology and its long‑term revenue forecasts; due diligence is pending and no funds have been disbursed.
White House trade adviser Peter Navarro criticized the due‑diligence process, while Pentagon spokesman Sean Parnell defended the team.