METCI Overview

Collaboration Announcement: Ramaco Resources has signed a significant Umbrella Cooperative Research and Development Agreement (CRADA) with the U.S. Department of Energy's National Energy Technology Laboratory to enhance research on rare earth elements and critical minerals.

Focus on Innovation: The agreement aims to leverage advanced technologies, including artificial intelligence and quantum computing, to accelerate the discovery and commercialization of rare earths and critical minerals, particularly at Ramaco's Brook Mine in Wyoming.

Financial Performance: Ramaco Resources reported a net loss of $13.3 million for Q3 2025, with adjusted EBITDA of $8.4 million and cash costs per ton sold decreasing to $97, despite a decline in metallurgical coal prices.

Transition to Critical Minerals: The company is transitioning to become a dual-platform producer of metallurgical coal and rare earth elements, with plans to develop the Brook Mine in Wyoming, which is expected to significantly increase production of critical minerals.

Strategic Initiatives: Ramaco's Board approved the development of a national strategic critical mineral terminal to support its downstream operations, aiming to enhance the U.S. supply chain for rare earths and critical minerals.

Market Outlook: Despite challenges in the metallurgical coal market, Ramaco maintains a strong liquidity position of $272 million, allowing for continued investment in its critical minerals initiatives while managing production costs effectively.

Public Offering Announcement: Ramaco Resources, Inc. has announced an upsized public offering of 10,666,667 shares of Class A common stock at $18.75 per share, aiming to raise approximately $200 million for development projects and corporate purposes.

Underwriters and Closing Details: Morgan Stanley and Goldman Sachs are the lead underwriters for the offering, which is expected to close on August 7, 2025, pending customary conditions.