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LEXINGTON - Ramaco Resources, Inc. (NASDAQ:METC, METCB), a $712 million market cap mining company, announced Tuesday that it will receive the Preliminary Economic Assessment (PEA) of its Brook Mine from Fluor Corporation on July 9.
The assessment will be presented to Ramaco’s Board of Directors at its meeting Wednesday. Following the presentation and the board’s review, the company expects to release a summary of the updated information on its website this week.
Ramaco Resources operates as a developer and producer of metallurgical coal in West Virginia and Virginia, while also developing coal, rare earth and critical minerals operations in Wyoming. The Brook Mine is part of the company’s Wyoming operations.
The company currently maintains four active metallurgical coal mining complexes in Central Appalachia and one coal mine and rare earth development site near Sheridan, Wyoming, which is in initial production stages.
In 2023, Ramaco announced the discovery of a major deposit of primary magnetic rare earths and critical minerals at its Wyoming mine. The company also operates a carbon research and pilot facility adjacent to the Wyoming mine, focused on producing advanced carbon products and materials from coal.
This information is based on a press release statement from the company.
In other recent news, Ramaco Resources reported a net loss of $9 million for the first quarter of 2025, a stark contrast to the $4 million net income from the previous quarter. The company’s earnings per share fell to -$0.19, down from a $0.06 gain, reflecting the challenges faced in the global metallurgical coal markets. Despite these financial setbacks, Ramaco launched the Brook Mine Critical Minerals Project, marking a significant strategic shift towards rare earth minerals. Additionally, the company achieved a production record of 1 million tons for the quarter. Analysts noted the company’s strong liquidity position, with $118 million available, a 25% increase year-on-year. Ramaco has adjusted its 2025 production guidance to between 3.9 and 4.3 million tons, with plans to reduce capital expenditure to $55-$60 million. The company also anticipates market improvements in the latter half of 2025, with operations at the Brook Mine pilot plant expected to commence in 2026. Meanwhile, Ramaco Resources continues to focus on cost management and operational efficiency amid ongoing market pressures.
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