Ramaco Resources, Inc. Provides Earnings Guidance for the Fourth Quarter of 2022 and Production Guidance for the Year 2022
November 07, 2022 at 04:30 pm EST
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Ramaco Resources, Inc. provided earnings guidance for the fourth quarter of 2022 and production guidance for the year 2022. The company anticipated that the fourth quarter of 2022 will be the Company's strong quarter on record in terms of both sales and earnings excluding Berwind idle costs, based on being fully sold out for full-year 2022 at an average price of $210 per short ton FOB mine.
For the year, the company expected total production of 2,700,000 ton to 2,900,000 ton.
Ramaco Resources, Inc. is a metallurgical coal company. The Company operates and develops metallurgical coal in southern West Virginia and southwestern Virginia. Its development portfolio primarily includes four properties: Elk Creek, Berwind, Knox Creek, and Maben. Its operations include six active mines at its Elk Creek mining complex, three active mines at its Berwind mining complex, two active mines at its Knox Creek mining complex, and one active mine at its Maben mining complex. The Elk Creek property consists of approximately 20,200 acres of controlled mineral rights and contains approximately 16 seams that it has targeted for production. The Berwind property consists of approximately 62,500 acres of controlled mineral rights. The Knox Creek Complex includes a preparation plant and 64,050 acres of controlled mineral rights. The Maben property is located in southern West Virginia and consists of approximately 28,000 acres of controlled mineral rights.
RAMACO RESOURCES, INC. 
