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Ramaco Resources revenue $228 million

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Ramaco Resources
Ramaco Resources   Ramaco is guiding to an estimated net income of $23.5 to $24.5 million

Ramaco Resources announced preliminary, unaudited financial results for the year ended December 31, 2018, as well as financial and operational guidance for 2019.

In 2018, Ramaco sold over 2.1 million tons, and realized revenue of approximately $228 million.

Ramaco Resources is guiding to an estimated net income for 2018 of approximately $23.5 to $24.5 million and adjusted EBITDA of approximately $41 to $43 million.

Capital expenditures through the year ended December 31, 2018 were approximately $48 million.

Based upon committed sales, development plans and production forecasts, Ramaco Resources expects 2019 coal production in the range of 1.8 to 2.2 million tons.

Ramaco Resources expects the average cash cost per ton to be between $63-$69 per ton at the Elk Creek mine complex and $120-$135 at the Berwind development mine, respectively.

Ramaco Resources will continue to do development mining throughout 2019 at our Berwind complex as we move towards the high value, low cost Pocahontas #4 seam, which it anticipates reaching in the spring of 2020.

At the Elk Creek mine, the cost guidance for 2019 of $63-$69 per ton (up from 2018 estimated costs of $60 per ton) are expected to result from an increase in sales related costs associated with higher sales realizations.

Using a midpoint of $66 per ton cost at our Elk Creek deep and surface complex, this sales price would provide almost a $50 per ton cash margin.

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