Ramaco Resources Unveils Hatch Report and Shareholder Letter for Brook Mine Critical Minerals Project
METC is trading near its 52-week low of $9.18 (3.4% above the low).
Summary
A new Hatch initial assessment and shareholder letter for the Brook Mine critical minerals project project a pre-tax NPV8 of $8.0 billion and average annual adjusted EBITDA of $1.3 billion under a carbochlorination flowsheet.
Key Events · Product Development and Regulatory · METC
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Hatch Initial Assessment Released
An independent initial assessment from Hatch for the Brook Mine critical minerals project has been released, offering a first look at the carbochlorination-based flowsheet and a Class 5 capital cost estimate of $3.2 billion before contingency.
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Project Economics Disclosed
The shareholder letter disclosed internally-prepared economics: a pre-tax NPV8 of $8.0 billion, post-tax NPV8 of $6.4 billion, average annual adjusted EBITDA of $1.3 billion, and a 40-year mine life, based on processing 2.6 million tonnes per annum of critical mineral feedstock.
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Product Slate Shifted Toward Semiconductors
Under the carbochlorination flowsheet, approximately 75% of projected revenue is tied to semiconductor-industry commodities—gallium metal, germanium oxide, high-purity alumina, and high-purity silica—while scandium oxide has been reduced to 18% of revenue.
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Capital Cost and Contingency
Hatch's estimate is AACE Class 5 with an accuracy range of -35%/+50%. The total installed cost is $2.585 billion for the 1.3 Mtpa case, with an order-of-magnitude estimate of $4.0 billion (including contingency) for the upsized 2.6 Mtpa case.
Analysis · METC · Energy & Transportation
An independent initial assessment from Hatch and a companion shareholder letter have been released, detailing the economics of the Brook Mine critical minerals project. The carbochlorination-based flowsheet delivers a pre-tax NPV8 of $8.0 billion and average annual adjusted EBITDA of $1.3 billion—a dramatic leap from the prior Fluor study. Capital costs are estimated at $3.2 billion before contingency, with a product slate now heavily weighted toward semiconductor-industry commodities. While the estimates remain preliminary and rely on inferred resources, the disclosure marks a significant step in de-risking the project and gives investors a first look at the opportunity's potential scale.
At the time of this filing, METC was trading at $9.49 on NASDAQ in the Energy & Transportation sector, with a market capitalization of approximately $595.2M. The 52-week trading range was $9.18 to $57.80. This filing was assessed with positive market sentiment and an importance score of 8 out of 10.