Company: REX
Filing Date: 2025-09-02
Form Type: 10-Q
Source: 0000930413-25-002856
Chunk: 139

Company: REX AMERICAN RESOURCES Corp
Filing Date: 2025-09-02
Form: 10-Q
Item: Part I, Item 2
Chunk 139
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payments to noncontrolling interests holders, compared to approximately $1.8 million for the first six months
of fiscal year 2024.

We are investigating various uses for our
excess cash and short-term investments. We expect total capital expenditures related to the construction at the One Earth facilities
to approximate $220 million to $230 million, inclusive of the carbon sequestration project and plant capacity expansion and ongoing
efforts to reduce CI scoring, which we currently plan to pay from our available cash. This estimate is subject to further refinement
as the project progresses. As of July 31, 2025, we had spent $57.4 million since inception and were contractually committed to
spend an additional $0.1 million toward the carbon sequestration project. As of July 31, 2025, we had spent $69.3 million since
inception and were contractually committed to spend an additional $45.2 million, inclusive of the $38.2 million equipment purchase
and installation agreement entered into subsequent to the end of the quarter, toward plant capacity expansion and CI scoring reduction
efforts. For all projects, we plan to spend $50 million to $60 million during the remainder of fiscal year 2025.

We have a stock buyback program with 1,178,593
shares remaining authorized at July 31, 2025. We typically repurchase our common stock when our stock price is trading at a price
we deem to be a discount to the underlying value of our net assets. We continue to seek investment opportunities, including ethanol
and/or energy related, carbon sequestration related, agricultural or other ventures, we believe meet our investment criteria.

Forward-Looking Statements

This Form 10-Q contains or may contain forward-looking
statements as defined in the Private Securities Litigation Reform Act of 1995. Such statements can be identified by use of forward-looking
terminology such as “may,” “expect,” “believe,” “estimate,” “anticipate”
or “continue” or the negative thereof or other variations thereon or comparable terminology. Readers are cautioned
that there are risks and uncertainties that could cause actual events or results to differ materially from those referred to in
such forward-looking statements. These risks and uncertainties include the risk factors set forth from time to time in the Company’s
filings with the Securities and Exchange Commission and include among other things: the impact of legislative and regulatory changes,
the price volatility and availability