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Ramaco Resources, Inc. (NASDAQ: METC) has hired David N. Dyer as Vice President-Marketing & Analysis and Jason P. Bragg as Vice President-Land. Dyer brings extensive experience in evaluating natural resources and commodity markets internationally, while Bragg has expertise in land planning and management. Both individuals are expected to enhance Ramaco's strategic guidance and land management capabilities.
Ramaco Resources, Inc. (NASDAQ: METC) reported first-quarter 2024 financial results with adjusted EBITDA at $24.2 million, net income at $2.0 million, and Class A EPS at $0.00. The company faced challenges due to lower index pricing and higher mine costs but remains optimistic about improving results. The Board declared cash dividends and extended its Revolver facility. Market commentary indicates the expectation of increased production and declining costs in the latter half of 2024. The Company continues progress on its growth initiatives and critical mineral projects.
Ramaco Resources, Inc. announced an increase and term extension of its revolving credit facility to $275 million, led by KeyBank, N.A. The facility now consists of $200 million with an accordion feature for an additional $75 million, and the term has been extended to 2029.