Nathan Martin

Nick Giles

Alex Fuhrman

Ben Kallo

Colin Rusch

Jeff Grampp

Matthew Key

Christopher LaFemina

Lucas Pipes

- **Ramaco Resources (METC) has signed a five-year Umbrella Cooperative Research and Development Agreement (CRADA)** with the U.S. Department of Energy's (DOE) National Energy Technology Laboratory (NETL).  **[1687187_20251030CL11859:0]** 
- The CRADA focuses on **rare earth element (REE) and critical mineral exploration, processing, and commercialization strategies** at Ramaco's **Brook Mine in Sheridan, Wyoming**, which is believed to contain the **largest unconventional rare earth deposit in the United States**.  **[1687187_20251030CL11859:0]** 
- This agreement aims to **accelerate the development and commercialization of technologies** to strengthen U.S. competitiveness and domestic manufacturing of critical minerals, leveraging DOE's national laboratory system.  **[1687187_20251030CL11859:0]** 
- Ramaco also holds approximately **76 intellectual property patents** and pending applications related to developing high-value carbon products from coal.  **[1687187_20251030CL11859:1]**

Ramaco Resources and DOE's NETL Sign Strategic Agreement on Rare Earths and Critical Minerals

- Ramaco Resources reported a **Q3 2025 net loss of $13 million** and **adjusted EBITDA of $8.4 million**, with a **Class A EPS loss of $0.25**.  **[0001687187_2208153_8]**  The company ended the quarter with **record liquidity of $272 million** and a **net cash position of $77 million**, boosted by a **$200 million common stock placement** in August.  **[0001687187_2208153_1]** **[0001687187_2208153_8]** 
- The company is rapidly advancing its rare earth and critical minerals platform, projecting **over $500 million of EBITDA** by 2028 and a projected NPV of **more than $5 billion** from the Brook Mine expansion.  **[0001687187_2208153_1]** **[0001687187_2208153_2]** **[0001687187_2208153_9]**  A pilot plant is under construction, with initial operations expected in **2026**, and commercial oxide facility construction planned for late 2026 or early 2027.  **[0001687187_2208153_3]** 
- Metallurgical coal operations in Q3 2025 recorded **cash costs of $97 per ton**, with **945,000 tons** produced and **900,000 tons** sold.  **[0001687187_2208153_8]**  Due to weak market conditions, full-year 2025 production guidance was reduced to **3.7 to 3.9 million tons** and sales guidance to **3.8 to 4.1 million tons**.  **[0001687187_2208153_8]** 
- The rare earth market is experiencing a **bifurcation between Chinese and Western pricing**, with recent scandium offtake deals showing Western prices significantly higher than previous estimates.  **[0001687187_2208153_2]** **[0001687187_2208153_9]**  The metallurgical coal market remains challenged by **Chinese steel exports** and declining spot prices, leading the company to prioritize value over volume.  **[0001687187_2208153_4]** **[0001687187_2208153_8]** **[0001687187_2208153_9]**

Ramaco Resources Reports Q3 2025 Results and Advances Critical Minerals Platform

- Ramaco Resources reported **record liquidity of $272 million** and a **net cash position of $77 million** at the end of Q3 2025, following a **$200 million common stock placement**.  **[0001687187_2209657_8]**  For Q3 2025, the company recorded an **adjusted EBITDA of $8.4 million**, a **net loss of $13 million**, and a **Class A EPS loss of $0.25**.  **[0001687187_2209657_8]**  Full-year 2025 metallurgical coal production guidance was adjusted to **3.7 million-3.9 million tons** and sales guidance to **3.8 million-4.1 million tons**.  **[0001687187_2209657_8]** 
- The company announced a **2.5x increase** in the base size of the Brook Mine to approximately **5 million tons**, targeting **more than 3,400 tons per year** of annual oxide production, with commercial production estimated to begin in **2028**.  **[0001687187_2209657_1]**  This rare earth platform is projected to generate **more than $500 million of EBITDA** and have an NPV exceeding **$5 billion**.  **[0001687187_2209657_1]** **[0001687187_2209657_2]** **[0001687187_2209657_9]** 
- Ramaco is establishing a **Strategic Critical Minerals Terminal** at the Brook Mine and highlighted a significant decoupling of Western rare earth prices from Chinese prices.  **[0001687187_2209657_1]** **[0001687187_2209657_6]**  The U.S. Department of War recently signed an offtake for scandium at **$6.2 million a ton**, which is **2/3 higher** than previous estimates.  **[0001687187_2209657_2]**

Ramaco Resources Reports Q3 2025 Financials and Major Rare Earths Project Expansion

- Ramaco Resources achieved a **record liquidity of $272 million** and a **net cash position of $77 million** at the end of Q3 2025, supported by a **$200 million common stock placement** in August.  **[0001687187_2209564_1]** **[0001687187_2209564_8]** 
- For Q3 2025, the company reported an **adjusted EBITDA of $8.4 million**, a **net loss of $13 million**, and a **Class A EPS loss of $0.25**.  **[0001687187_2209564_8]** 
- The company is significantly progressing its rare earth and critical minerals platform, with the Brook Mine's base size increased to **5 million tons** of annual coal production, estimated to generate **over $500 million of EBITDA** from the rare earth platform in 2028.  **[0001687187_2209564_1]** 
- Full-year 2025 metallurgical coal production guidance was adjusted to **3.7 to 3.9 million tons** and sales guidance to **3.8 to 4.1 million tons**, reflecting a strategy to prioritize value over volume in a challenging market.  **[0001687187_2209564_8]** 
- Ramaco Resources is establishing the U.S.'s first Strategic Critical Minerals Terminal at the Brook Mine and highlighted a **scandium price of $6.25 million per ton** from a recent U.S. government deal, which is significantly higher than previous estimates.  **[0001687187_2209564_4]** **[0001687187_2209564_9]**

Ramaco Resources Reports Q3 2025 Results and Advances Critical Minerals Strategy

- Ramaco reported a **Net Income of $(13,308) thousand** and **Adjusted EBITDA of $8,367 thousand** for Q3 2025.  **[0001687187_2206009:21]** 
- The company provided full-year 2025 guidance, including company production of **3,700-3,900 thousand tons**, sales of **3,800-4,100 thousand tons**, and cash costs per ton of **$98-100**.  **[0001687187_2206009:18]** 
- Ramaco's Brook Mine, which opened in **July 2025**, is projected to reach a steady-state annual production of approximately **3,414 tons** of rare earths and critical minerals, with an estimated **$1,038 million revenue** and **$552 million EBITDA** at steady state.  **[0001687187_2206009:14]** **[0001687187_2206009:16]** 
- The Brook Mine is considered the world's sole primary mine source for gallium, germanium, and scandium, with an estimated **$5.1 billion NPV** (8% discount rate) and a **3-year payback period**.  **[0001687187_2206009:5]** **[0001687187_2206009:7]** **[0001687187_2206009:14]**

Ramaco Reports Q3 2025 Results and Provides Updates on Brook Mine Expansion

- Ramaco Resources, Inc. reported a **net loss of $(13.3) million** and **Class A diluted EPS of $(0.25)** for the third quarter of 2025, with **Adjusted EBITDA of $8.4 million**.  **[1687187_0001213900-25-102593_ea026135101ex99-1_ramaco.htm:0]** 
- The company achieved its **strongest historic level of liquidity at $272 million** and a **net cash position of more than $77 million** as of September 30, 2025.  **[1687187_0001213900-25-102593_ea026135101ex99-1_ramaco.htm:0]** **[1687187_0001213900-25-102593_ea026135101ex99-1_ramaco.htm:2]** 
- Ramaco is accelerating its transition into a dual-platform critical minerals company, with the Brook Mine's anticipated annual commercial production of rare earth and critical mineral oxides increasing to **approximately 3,400 tons per year**, a **175% increase**.  **[1687187_0001213900-25-102593_ea026135101ex99-1_ramaco.htm:1]** **[1687187_0001213900-25-102593_ea026135101ex99-1_ramaco.htm:2]**  The Board also approved the pursuit of a **national public-private strategic critical mineral terminal (SCMT)**.  **[1687187_0001213900-25-102593_ea026135101ex99-1_ramaco.htm:0]** **[1687187_0001213900-25-102593_ea026135101ex99-1_ramaco.htm:4]** 
- Full-year 2025 production guidance for metallurgical coal was adjusted to **3.7 – 3.9 million tons** (previously 3.9 million tons), and sales guidance to **3.8 – 4.1 million tons** (previously 4.1 million tons) due to continued weak market conditions.  **[1687187_0001213900-25-102593_ea026135101ex99-1_ramaco.htm:2]** 
- Non-GAAP cash cost per ton sold was **$97** in Q3 2025, a **$6 per ton decline** compared to Q2 2025, contributing to a **15% improvement in cash margins per ton** sequentially.  **[1687187_0001213900-25-102593_ea026135101ex99-1_ramaco.htm:0]**

Ramaco Resources Reports Q3 2025 Results and Updates on Strategic Initiatives

- Ramaco Resources reported a **net loss of $(13.3) million** and **Class A diluted EPS of $(0.25)** for the third quarter of 2025, with **Adjusted EBITDA of $8.4 million**.  **[1687187_20251027CL07885:0]**  The company ended the quarter with record liquidity of **$272 million** and a net cash position of **more than $77 million**.  **[1687187_20251027CL07885:0]** **[1687187_20251027CL07885:3]** 
- Non-GAAP cash cost per ton sold for metallurgical coal declined to **$97** in Q3 2025, a **$6 per ton decrease** compared to Q2 2025, resulting in a **15% improvement** in cash margins per ton sequentially.  **[1687187_20251027CL07885:0]** 
- The company is accelerating its transition to a dual-platform critical minerals company, with the Brook Mine's base case annual coal ore production now anticipated at roughly **5 million tons**.  **[1687187_20251027CL07885:3]**  Annual commercial production of rare earth and critical mineral oxides is expected to increase by **175%** to approximately **3,400 tons per year**.  **[1687187_20251027CL07885:1]** **[1687187_20251027CL07885:4]** 
- Full-year 2025 production guidance for metallurgical coal was adjusted to **3.7 – 3.9 million tons**, and sales guidance to **3.8 – 4.1 million tons**.  **[1687187_20251027CL07885:3]** **[1687187_20251027CL07885:8]**

Ramaco Resources Reports Q3 2025 Results and Rare Earth Expansion

- Ramaco Resources' Board has approved the establishment of a **Strategic Critical Minerals Terminal (SCMT)** at its **Brook Mine facility in Wyoming**, aiming to create a national strategic stockpile of rare earth elements and critical minerals.  **[1687187_20251027CL07057:0]** 
- The SCMT is designed to position Ramaco as the **most comprehensive, vertically integrated upstream, midstream, and downstream producer** of critical minerals and rare earth elements in the United States, addressing supply chain risks and national security needs.  **[1687187_20251027CL07057:0]** 
- The Brook Mine is believed to be one of the world's only primary source mines for **scandium, gallium, and germanium**, and contains significant quantities of heavy and light rare earth elements.  **[1687187_20251027CL07057:0]** 
- Ramaco's Board recently authorized an increase in the annual commercial rare earth and critical mineral oxide production projection to approximately **3,400 tons** from the previously contemplated **1,240 tons**, representing a **174% increase**.  **[1687187_20251027CL07057:0]**

Ramaco Resources Announces Strategic Critical Minerals Stockpile Initiative

- Ramaco Resources (METC) has been **approved as a member of the Defense Industrial Base Consortium (DIBC)**, a U.S. Department of War (DoW) sponsored initiative.  **[1687187_20251015CL98589:0]** 
- This membership grants Ramaco access to **federally funded research, prototyping, and production opportunities**.  **[1687187_20251015CL98589:0]** 
- These opportunities are particularly focused on areas critical to national defense, such as **rare earth elements (REEs), strategic and critical materials, and energy storage technologies**.  **[1687187_20251015CL98589:0]** 
- The DIBC's mission is to strengthen the U.S. defense industrial base and **reduce reliance on foreign sources** for critical materials.  **[1687187_20251015CL98589:0]**

Ramaco Resources Joins Defense Industrial Base Consortium

- Ramaco Resources, Inc. announced the appointment of **Martin van Wyk** as Senior Vice President of Critical Minerals Processing.  **[1687187_20251006CL90717:0]** 
- Van Wyk brings over **23 years of global experience** in mineral processing, hydrometallurgy, and rare earth elements (REEs) flowsheet development.  **[1687187_20251006CL90717:0]** 
- He will lead the company's critical minerals processing development for the **Brook Mine Project** in Wyoming, U.S..  **[1687187_20251006CL90717:0]** 
- Van Wyk has previously contributed to the Brook Mine project as a Process Subject Matter Expert, designing test work and optimizing flowsheet development.  **[1687187_20251006CL90717:0]**