Ramaco Resources, Inc. Completes Acquisition of Maben Coal LLC
Ramaco Resources, Inc. (METC)
Last ramaco resources, inc. earnings: 2/20 04:59 pm
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US:NASDAQ Investor Relations:
ramacoresources.com/contact-us/investor-relations
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Source: PR Newswire
LEXINGTON, Ky., Sept. 26, 2022 /PRNewswire/ -- Ramaco Resources, Inc. (NASDAQ: METC) ("Ramaco" or the "Company") announced that it has closed the previously announced acquisition of 100% of the equity interests of Maben Coal LLC ("Maben"), an entity owned by Appleton Coal LLC, through the Company's subsidiary Ramaco Development, LLC (the "Acquisition"). Maben Coal LLC holds approximately 33 million tons of minable coal on over 28,000 leased acres located in Wyoming County and Raleigh County, West Virginia.The purchase price of $30 million consisted of: (i) $9 million to be paid in cash at closing and (ii) $21 million paid from the proceeds of a two-year secured note payable to Investec Bank, PLC (the "Lender"). The Acquisition is anticipated to be accretive to the Company over the next 12 months.The Maben property contains various areas of high quality low vol met coal in the Sewell, Pocahontas 3, Pocahontas 4, and Pocahontas 6 (and all seams between the Sewell and Pocahontas 6) seams
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METC
Earnings
- 3/7/24 - Miss
METC
Sec Filings
- 3/14/24 - Form 10-K
- 3/7/24 - Form 8-K
- 3/4/24 - Form 4
- METC's page on the SEC website