July 26, 2026 - Ramaco Resources, Inc. filed an amendment to replace its stockholder letter exhibit, removing certain financial tabulations, clarifying that the Fluor Corporation “Preliminary Economic Assessment” is a conceptual study now referred to as the “Fluor Study,” and updating exhibit descriptions. The revised letter outlines progress at the Brook Mine rare earth and critical minerals project.

The company recently raised $200 million in new common equity and describes Board approval to upsize Brook Mine from 2 million to 5 million tons per year of coal feedstock, increasing planned rare earth and critical mineral oxide output to approximately 3,400 tons per year.

Management plans to expand permitted acreage from roughly 4,500 to almost 16,000 acres, pursue a higher cut-off grade of almost 500 ppm, and complete a Pre-Feasibility Study led by Hatch Ltd. by Q1 2026. A fall drilling program of 15 holes is under way, and a KeyBank term sheet contemplates enlarging the revolving credit facility from $200 million to $400 million, with an accordion feature that could bring it to $550 million over a five-year term.