Investor Presentaiton
RUNWAY TO 6.5 MILLION TONS OF PRODUCTION
RAMACO
RESOURCES
2023
Elk Creek Complex
Production
Capex
2024
Capex
2025
Capex
Total
Capex
Quality
Targeted Incremental Production (millions of tons)
2023E Production
2.3
HVA/B+
6.5
Plant Expansion + Crucible & Ram #3 Mines + 2nd
Additional Rail Loadout + Additional Mine Section
Target Elk Creek Production¹
0.7
$18
$10
$28
HVA/B+
0.4
$15
$5
$20
HVA/B+
3.4
$18
$25
$5
$48
HVA/B+
Berwind Complex
2023
2024
Production
Capex
Capex
2025
Capex
Total
Capex
Quality
3.35
2023E Production
0.7
Ongoing Ramp At Berwind, Laurel Fork, Triad
1.0
$11
$18
$7
$36
Triple S, Maben Highwall Mines
0.2
Target Berwind Production¹
1.9
$11
$18
$7
2023
2024
Knox Creek Complex
Production
Capex
Capex
2025
Capex
$36
Total
Capex
LV/MV
LV/MV
LV
LV/MV
2023
Elk Creek
Berwind
Knox Creek
2026
Quality
2023E Production
0.4
MV/HVA
Growth Capital Expenditures ($MMs)
Ongoing Ramp At Big Creek Jawbone
0.4
$4
$7
$11
MV/HVA
Knox Creek Jawbone Mine
0.5
$9
$9
$18
HVA
$90
Target Knox Creek Production'
1.3
$4
$16
$9
$29
MV/HVA
2023
2024
2025
Total by Complex
Elk Creek
Berwind
Knox Creek
Production
Capex
Capex
Capex
Total
Capex
Quality
3.4
$18
$25
$5
$48
HVA/B+
$58
$32
$21
1.9
$11
$18
$7
$36
LV/MV
1.3
$4
$16
$9
$29
MV/HVA
Target Overall Production¹
6.5
$32
$58
$21
$111
2022
2023
2024
2025
We anticipate reaching 6.5 million tons of production by 2026, based on growth capital expenditures
of $111 million from 2023-25. 2022 was our peak capex year, with over $90 million spent in growth capital alone last year.
(1): Some 2024-25 growth capital is subject to Board approval. Totals may not add due to rounding.
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