Ramaco Resources reports Q3 EPS (25c), consensus (30c)

Reports Q3 revenue $121.0M, consensus $130.92M. CEO Randall Atkins commented, “Given our recent announcements and general market interest related to our Brook Mine rare earth elements and critical minerals project, I am going to begin my comments on that operating area as well as our liquidity front. Since the July groundbreaking of the Brook Mine, we have moved rapidly to build on this momentum. We continue the transition into becoming what we believe will be the nation’s first dual platform critical minerals company, one which will be focused on both metallurgical coal and rare earth and critical minerals. We are proudly poised to provide strength to this nation’s national security requirements for many years to come. I would note that our balance sheet and liquidity position is now in the strongest position we have ever had, despite the downturn in the metallurgical coal markets. We ended the third quarter with record liquidity of $272 million, and a net cash position of more than $77M. This allows us to rapidly move forward with our transition in its many forms”.