Ramaco Resources, Inc. announces conclusion of successful 2022 North American sales negotiations, acquisition of significant assets from Coronado, and new establishment of a regular dividend policy
LEXINGTON, Ky., Oct. 26, 2021 /PRNewswire/ -- Ramaco Resources, Inc. (NASDAQ:METC) ("Ramaco" or the "Company") announced that it has completed 2022 sales negotiations to its North American steel customers. Ramaco has now contracted to sell 1.67 million tons of both low volatile and high volatile coal at an overall average price of roughly $196 per short ton FOB mine. These sales translate into over $325 million in 2022 booked revenue. Based upon the Company's current mine costs, adjusted upward for higher sales related expense, the earnings from these domestic sales are estimated to generate roughly $190 million of adjusted EBITDA in 2022. These completed domestic sales represent approximate
