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$200 million in new common equity, raised in early August through Morgan Stanley and Goldman Sachs, is the financial foundation for a board-authorized production overhaul at Ramaco Resources (METC, METCB).
The raise produced what the company reports as a billion-dollar-plus gain in market capitalization.
That capital enabled the board to authorize lifting annual coal throughput at Brook Mine from 2 million tons to a base target of 5 million tons (projected), with rare earth and critical mineral oxide output rising in parallel from 1,240 tons to approximately 3,400 tons per year (projected), measured against the baseline in the Fluor Corporation's conceptual Preliminary Economic Assessment.
Production scale-up: the numbers | Metric | Prior level | Revised target | Status | |---|---|---|---| | Annual coal throughput | 2 million tons | 5 million tons | Projected | | Annual REE/CM oxide output | 1,240 tons | 3,400 tons | Projected | | Permitted acreage | 4,500 acres | 16,000 acres | Pending expansion | | Mine life at revised rate | Not disclosed | 60+ years | Projected | The 5-million-ton base is the conservative case.
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