Ramaco Resources, Inc. Provides Sales Guidance for the Third Quarter and Revises Production and Sales Guidance for the Year 2023
August 08, 2023 at 04:43 pm EDT
Share
Ramaco Resources, Inc. provided sales guidance for the third quarter and revised production and sales guidance for the year 2023. For the third quarter of 2023 sales are expected to be 0.7 ? 0.9 million tons.
For the year 2023 production guidance is updated to 3.0 ? 3.5 million tons from 3.1 ? 3.6 million tons, lowered by the idling of the Company's Triple S 0.1 million ton production mine due to market conditions with anticipated production beyond 2023 unaffected by this action. 2023 sales guidance is also updated to 3.1 ? 3.6 million tons from 3.3 ? 3.8 million tons representing an almost 40% increase versus 2022 sales.
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. 
