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Saundarya

Research Analyst at B. Riley Securities

Soundarya Iyer is a Research Analyst at B. Riley Securities, specializing in U.S. public equity research with a focus on nuclear energy, mining, and critical minerals. She covers specific companies including NuScale Power Corp, Ramaco Resources, and Endeavour Silver, actively participating in their earnings calls to probe strategic and operational details. Iyer has asked questions on behalf of senior colleagues like Ryan Pfingst and Nick Giles, demonstrating her role in the firm's research division, though specific performance metrics, rankings, or quantitative returns are not publicly detailed in available sources.

Saundarya's questions to Ramaco Resources (METC) leadership

Question · Q4 2025

Saundarya, on behalf of Nick Giles from B. Riley Securities, inquired about the directional impact on the Brook Mine's capital expenditure, relative to the prior $1.1 billion estimate, now that solvent extraction has been removed from the flow sheet. She also asked about Ramaco's strategy for leveraging favorable critical mineral policy, specifically regarding DPA Title III or DOE loan programs for financing.

Answer

Michael Woloschuk, EVP of Critical Mineral Operations, explained that while some CapEx is removed from the back end, the main CapEx will be in carbochlorination, deferring specific figures to the upcoming PEA. Jason Fannin, Chief Commercial Officer, confirmed ongoing discussions with government groups regarding financing, noting that the pivot to gallium for semiconductors is expected to enhance these conversations.

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