Ramaco Resources expands Brook Mine rare earth project to 5M tons coal/yr, 3,400 tons REO/yr; raises $200M equity

Ramaco Resources, Inc.

Raised $200M in common equity via Morgan Stanley and Goldman Sachs, increasing market cap by over $1B.
Brook Mine coal production upsized to 5M tons/yr (from 2M); REO production to ~3,400 tons/yr (from 1,240).
Revolving credit facility upsized from $200M to $400M with accordion to $550M; five-year term from KeyBank syndicate.
New TRS from Weir International with higher cut-off grade (~500 ppm); Hatch Ltd. retained for PFS expected Q1 2026.
Fall drilling program: 15 new holes (7 exploratory outside permit, 8 infill) to expand resource and upgrade classification.

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