# EDGAR Filing Document

**Accession Number:** 0001590715
**File Stem:** 0001477932-25-008074
**Filing Date:** 2025-11
**Character Count:** 8705
**Document Hash:** fe21bcda7fd1c8845d607e179f5fa970
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001477932-25-008074.hdr.sgml**: 20251112

**ACCESSION NUMBER**: 0001477932-25-008074

**CONFORMED SUBMISSION TYPE**: 4

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20251107

**FILED AS OF DATE**: 20251112

**DATE AS OF CHANGE**: 20251112

**REPORTING-OWNER**: 

**OWNER DATA:**
- **COMPANY CONFORMED NAME:** GOLDEN PROPERTIES LTD.
- **CENTRAL INDEX KEY:** 0001662466

**ORGANIZATION NAME:**

**FILING VALUES:**
- **FORM TYPE:** 4
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-38816
- **FILM NUMBER:** 251471601

**BUSINESS ADDRESS:**
- **STREET 1:** #500
- **STREET 2:** 1177 WEST HASTINGS STREET
- **CITY:** VANCOUVER
- **STATE:** A1
- **ZIP:** V6E 2K3
- **BUSINESS PHONE:** 6046891721

**MAIL ADDRESS:**
- **STREET 1:** #500
- **STREET 2:** 1177 WEST HASTINGS STREET
- **CITY:** VANCOUVER
- **STATE:** A1
- **ZIP:** V6E 2K3
**ISSUER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** American Resources Corp
- **CENTRAL INDEX KEY:** 0001590715
- **STANDARD INDUSTRIAL CLASSIFICATION:** BITUMINOUS COAL & LIGNITE MINING [1220]
- **ORGANIZATION NAME:** 01 Energy & Transportation
- **EIN:** 463914127
- **STATE OF INCORPORATION:** FL
- **FISCAL YEAR END:** 1231

**BUSINESS ADDRESS:**
- **STREET 1:** 12115 VISIONARY WAY, SUITE 174
- **CITY:** FISHERS
- **STATE:** IN
- **ZIP:** 46038
- **BUSINESS PHONE:** (317) 855-9926

**MAIL ADDRESS:**
- **STREET 1:** 12115 VISIONARY WAY, SUITE 174
- **CITY:** FISHERS
- **STATE:** IN
- **ZIP:** 46038

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** NGFC Equities, Inc.
- **DATE OF NAME CHANGE:** 20150512

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** NGFC Equities, INC.
- **DATE OF NAME CHANGE:** 20150512

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** NATURAL GAS FUELING & CONVERSION INC.
- **DATE OF NAME CHANGE:** 20131031

### UNITED STATES SECURITIES AND EXCHANGE COMMISSION
**Washington, D.C. 20549**

## FORM 4

### STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

[ ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

[ ] Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

---

| | | |
|:---|:---|:---|
| **1. Name and Address of Reporting Person**<sup>*</sup><br>GOLDEN PROPERTIES LTD.<br><sub>(Last) (First) (Middle)</sub><br>

#500<br>1177 WEST HASTINGS STREET<br><sub>(Street)</sub><br>VANCOUVER, A1 V6E 2K3<br><sub>(City) (State) (Zip)</sub> | **3. Date of Earliest Transaction (Month/Day/Year)**<br>2025-11-07-05:00 | **5. Relationship of Reporting Person(s) to Issuer**<br>(Check all applicable)<br>[ ] Director [X] 10% Owner<br>[ ] Officer (give title below) [ ] Other (specify below)<br>_ _ |
| **2. Issuer Name and Ticker or Trading Symbol**<br>American Resources Corp [ AREC ] | **4. If Amendment, Date of Original Filed (Month/Day/Year)**<br>  | **6. Individual or Joint/Group Filing (Check Applicable Line)**<br>[X] Form filed by One Reporting Person<br>[ ] Form filed by More than One Reporting Person |

---

## Table I - Non-Derivative Securities

---

|  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 1. Title of Security | 2. Transaction Date | 2A. Deemed Execution Date | 3. Transaction Code (V) | 3. Transaction Code (V) | 4. Securities Acquired (A) or Disposed of (D) | 4. Securities Acquired (A) or Disposed of (D) | 4. Securities Acquired (A) or Disposed of (D) | 5. Amount of Securities Beneficially Owned | 6. Ownership Form | 7. Nature of Indirect Beneficial Ownership |
| 1. Title of Security | 2. Transaction Date | 2A. Deemed Execution Date | Code | V | Amount | (A) or (D) | Price | 5. Amount of Securities Beneficially Owned | 6. Ownership Form | 7. Nature of Indirect Beneficial Ownership |
| Class A Common Stock | 2025-11-07-05:00 |  | S |  | 20000 | D | $4.00 | 11158095 | D |  |
| Class A Common Stock | 2025-11-07-05:00 |  | S |  | 19700 | D | $4.01 | 11138395 | D |  |
| Class A Common Stock | 2025-11-07-05:00 |  | S |  | 300 | D | $4.00 | 11138095 | D |  |
| Class A Common Stock | 2025-11-07-05:00 |  | S |  | 10000 | D | $4.01 | 11128095 | D |  |
| Class A Common Stock | 2025-11-07-05:00 |  | S |  | 20000 | D | $4.00 | 11108095 | D |  |
| Class A Common Stock | 2025-11-07-05:00 |  | S |  | 3155 | A | $4.01 | 11104940 | D |  |
| Class A Common Stock | 2025-11-07-05:00 |  | S |  | 20000 | D | $4.00 | 11084940 | D |  |
| Class A Common Stock | 2025-11-07-05:00 |  | S |  | 20000 | D | $4.00 | 11064940 | D |  |
| Class A Common Stock | 2025-11-07-05:00 |  | S |  | 10000 | D | $4.02 | 11054940 | D |  |
| Class A Common Stock | 2025-11-07-05:00 |  | S |  | 27955 | D | $4.01 | 11026985 | D |  |
| Class A Common Stock | 2025-11-07-05:00 |  | S |  | 2045 | D | $4.00 | 11024940 | D |  |
| Class A Common Stock | 2025-11-07-05:00 |  | S |  | 19944 | D | $4.01 | 11004996 | D |  |
| Class A Common Stock | 2025-11-07-05:00 |  | S |  | 56 | D | $4.00 | 11004940 | D |  |
| Class A Common Stock | 2025-11-07-05:00 |  | S |  | 20000 | D | $4.00 | 10984940 | D |  |
| Class A Common Stock | 2025-11-07-05:00 |  | S |  | 19963 | D | $4.02 | 10964977 | D |  |
| Class A Common Stock | 2025-11-07-05:00 |  | S |  | 37 | D | $4.01 | 10964940 | D |  |
| Class A Common Stock | 2025-11-07-05:00 |  | S |  | 10000 | D | $4.03 | 10954940 | D |  |
| Class A Common Stock | 2025-11-07-05:00 |  | S |  | 20000 | D | $4.04 | 10934940 | D |  |
| Class A Common Stock | 2025-11-07-05:00 |  | S |  | 8500 | D | $4.01 | 10926440 | D |  |
| Class A Common Stock | 2025-11-07-05:00 |  | S |  | 1500 | D | $4.00 | 10924940 | D |  |
| Class A Common Stock | 2025-11-07-05:00 |  | S |  | 10000 | D | $4.00 | 10914940 | D |  |
| Class A Common Stock | 2025-11-07-05:00 |  | S |  | 10000 | D | $4.02 | 10904940 | D |  |
| Class A Common Stock | 2025-11-07-05:00 |  | S |  | 10000 | D | $4.02 | 10894940 | D |  |
| Class A Common Stock | 2025-11-07-05:00 |  | S |  | 20000 | D | $4.02 | 10874940 | D |  |
| Class A Common Stock | 2025-11-07-05:00 |  | S |  | 10000 | D | $4.09 | 10864940 | D |  |
| Class A Common Stock | 2025-11-07-05:00 |  | S |  | 10000 | D | $4.05 | 10854940 | D |  |
| Class A Common Stock | 2025-11-07-05:00 |  | S |  | 20000 | D | $4.10 | 10834940 | D |  |
| Class A Common Stock | 2025-11-07-05:00 |  | S |  | 20000 | D | $4.08 | 10814940 | D |  |
| Class A Common Stock | 2025-11-07-05:00 |  | S |  | 10000 | D | $4.08 | 10804940 | D |  |
| Class A Common Stock | 2025-11-07-05:00 |  | S |  | 20000 | D | $4.06 | 10784940 | D |  |

---

## Table II - Derivative Securities

---

|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 1. Title of Derivative Security | 2. Conversion or Exercise Price | 3. Transaction Date | 3A. Deemed Execution Date | 4. Transaction Code (V) | 4. Transaction Code (V) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) | 6. Date Exercisable and Expiration Date | 6. Date Exercisable and Expiration Date | 7. Title and Amount of Underlying Securities | 7. Title and Amount of Underlying Securities | 8. Price of Derivative Security | 9. Number of Derivative Securities Beneficially Owned | 10. Ownership Form | 11. Nature of Indirect Beneficial Ownership |
| 1. Title of Derivative Security | 2. Conversion or Exercise Price | 3. Transaction Date | 3A. Deemed Execution Date | Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | 8. Price of Derivative Security | 9. Number of Derivative Securities Beneficially Owned | 10. Ownership Form | 11. Nature of Indirect Beneficial Ownership |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |

---

**Signature:** /s/ Alex Lau  
**Date:** 2025-11-10-05:00

### Remarks:

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.

* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).

** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.

**Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.**