LEXINGTON, Ky., July 31,
2023 /PRNewswire/ -- Ramaco Resources,
Inc. (NASDAQ: METC, METCB, "Ramaco" or the "Company") is a
leading producer of high-quality, low-cost metallurgical coal in
Appalachia. Today it announces the
third quarter dividend on Class A shares and the initial dividend
on its newly issued Class B CORE Resources shares, as well as
the timing of its second quarter earnings release and conference
call.
BOARD OF DIRECTORS DECLARES CLASS A AND CLASS B CASH
DIVIDEND
Ramaco's Board of Directors approved and declared its quarterly
cash dividend of $0.125 per share on
the Company's Class A common stock. The third quarter dividend is
payable on September 15, 2023, to
shareholders of record on September 1,
2023.
The Board of Directors also approved and declared a quarterly
cash dividend of $0.1654 per share on
the newly issued CORE Resources Class B shares. The third quarter
dividend is payable on September 15,
2023, to shareholders of record on September 1, 2023. The calculation of the Class B
dividend was based on second quarter 2023 results.
"We are excited to announce our initial dividend on the newly
issued CORE Resources Class B tracking shares. The payment is based
on the financial performance of the 'CORE' assets, which is an
abbreviation of 'Carbon Ore-Rare Earth,'" stated Randall Atkins, Chairman and Chief Executive
Officer of Ramaco Resources. "We believe these CORE assets are
unique and potentially transformational. The issuance of the CORE
Resources tracking stock and declaration of its first dividend are
important steps in our ongoing strategy to both maximize long-term
shareholder value, and to return capital to our shareholders."
SECOND QUARTER 2023 FINANCIAL RESULTS AND CONFERENCE
CALL
The Company will report second quarter 2023 financial results
on Tuesday, August 8, 2023, after the close of the
market. The earnings news release will be available on the
Company's investor relations website
at www.ramacoresources.com and through major financial
information sites.
At 9:00 a.m. Eastern Time on Wednesday, August 9,
2023, Ramaco Resources will host an investor conference
call and webcast where Randall W. Atkins, Chairman and
Chief Executive Officer, Christopher L.
Blanchard, Chief Operating Officer, and Jeremy R. Sussman, Chief Financial Officer will
discuss the second quarter 2023 results.
The conference call can be accessed by calling (800)
274-8461 domestically or (203) 518-9814 internationally. The
Conference ID is METCQ223. The webcast for this release will be
accessible by visiting
https://event.on24.com/wcc/r/4302384/5459B0334C7CB8C4682C8AFCE2FA2E2A
ABOUT RAMACO RESOURCES
Ramaco Resources, Inc. is an operator and developer of
high-quality, low-cost metallurgical coal in southern West Virginia, southwestern Virginia and southwestern Pennsylvania. Its executive offices are in
Lexington, Kentucky, with
operational offices in Charleston, West
Virginia and Sheridan,
Wyoming. The Company currently has three active
metallurgical coal mining complexes in Central Appalachia and one rare earth and coal
mine near Sheridan, Wyoming in
operation but not yet production. In May
2023, the Company announced that a major rare earth deposit
of primary magnetic rare earths Neodymium, Praseodymium, Terbium,
and Dysprosium was discovered at its mine near Sheridan, Wyoming. Contiguous to the
Wyoming mine, the Company operates
a research and pilot facility related to the production of advanced
carbon products and materials from coal. In connection with these
activities, it holds a body of roughly 50 intellectual
property patents, pending applications, exclusive licensing
agreements and various trademarks. News and additional information
about Ramaco Resources, including filings with the Securities and
Exchange Commission, are available at
https://www.ramacoresources.com.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING
STATEMENTS
Certain statements contained in this news release, and in the
documents, it may reference, constitute "forward-looking
statements" within the meaning of the Private Securities Litigation
Reform Act of 1995. These forward-looking statements represent
Ramaco Resources' expectations or beliefs concerning guidance,
future events, anticipated revenue, future demand and production
levels, macroeconomic trends, the development of ongoing projects,
costs and expectations regarding operating results, and it is
possible that the results described in this news release, and the
documents it references, will not be achieved. These
forward-looking statements are subject to risks, uncertainties and
other factors, many of which are outside of Ramaco Resources'
control, which could cause actual results to differ materially from
the results discussed in the forward-looking statements. Any
forward-looking statement speaks only as of the date on which it is
made, and, except as required by law, Ramaco Resources does not
undertake any obligation to update or revise any forward-looking
statement, whether as a result of new information, future events or
otherwise. New factors emerge from time to time, and it is not
possible for Ramaco Resources to predict all such factors. When
considering these forward-looking statements, you should keep in
mind the risk factors and other cautionary statements found in
Ramaco Resources' filings with the Securities and Exchange
Commission ("SEC"), including its Annual Report on Form 10-K and
Quarterly Reports on Form 10-Q. The risk factors and other factors
noted in Ramaco Resources' SEC filings could cause its actual
results to differ materially from those contained in any
forward-looking statement.
POINT OF CONTACT
INVESTOR RELATIONS:
info@ramacometc.com or 859-244-7455
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SOURCE Ramaco Resources, Inc.