Revenue: As of FY2025 Q3, the actual value is USD 121 M.EBIT: As of FY2025 Q3, the actual value is USD -14.36 M.<h3>Metallurgical Coal Segment</h3><ul><li>Revenue: $120.996 million for the three months ended September 30, 2025, a decrease of 28% from $167.411 million in the same period in 2024.</li><li>Cost of Sales: $101.842 million for the three months ended September 30, 2025, a decrease of 24% from $133.368 million in the same period in 2024.</li><li>Segment Adjusted EBITDA: $15.943 million for the three months ended September 30, 2025, a decrease of 41% from $26.968 million in the same period in 2024.</li><li>Tons Sold: 873 thousand tons for the three months ended September 30, 2025, compared to 1,023 thousand tons in the same period in 2024.</li></ul><h3>Rare Earths and Critical Minerals Segment</h3><ul><li>Segment Adjusted EBITDA: -$3.759 million for the three months ended September 30, 2025, a decrease of $2.396 million from -$1.363 million in the same period in 2024.</li></ul><h3>Cash Flow</h3><ul><li>Operating Cash Flow: $20.338 million for the nine months ended September 30, 2025.</li><li>Investing Cash Flow: -$56.143 million for the nine months ended September 30, 2025, primarily due to capital expenditures of $52.1 million.</li><li>Financing Cash Flow: $196.642 million for the nine months ended September 30, 2025, driven by net proceeds from a Class A common stock equity issuance of $189.0 million and net proceeds from an Unsecured Senior Note issuance of $64.9 million.</li></ul><h3>Future Outlook and Strategy</h3><ul><li>Metallurgical Coal Segment: The company plans to develop existing properties and increase annual production to approximately seven million clean tons of metallurgical coal, contingent on market conditions, permitting, and additional capital deployment.</li><li>Rare Earths and Critical Minerals Segment: The company is advancing the Brook Mine project, with a laboratory/pilot plant expected to be completed by mid-2026, and has released a Technical Report Summary with improved project economics.</li></ul><h3>Strategic Initiatives</h3><ul><li>Capital Expenditures: $49.261 million for the nine months ended September 30, 2025, mainly for the expansion of the Brook Mine project and the Maben complex.</li><li>Funding: The company raised $200 million through an underwritten public offering of its Class A common stock to support the development of the rare earth elements and critical minerals platform at the Brook Mine.</li></ul>

RAMACO RESOURCES INC 8.375% SENIR FXD NT DUE 30/11/2029 USD25 | 10-Q: FY2025 Q3 Revenue: USD 121 M