Investor Presentaiton
LOW CASH MINE COSTS; MEANINGFUL MARGIN GROWTH
RAMACO
RESOURCES
Met Coal Cash Costs ($/short ton FOB mine) (1)
Ramaco Quarterly Margins Per Ton
we are committed to staying
Our mine costs were among
the industry's lowest in 2022.
Despite industry-wide
inflationary pressures,
at the low end of the U.S.
$150
cost curve.
$140
$130
In 1Q23, our Elk Creek cash
$120
mine costs declined to $90/ton,
$110
well below 2022 levels.
$100
For full-year 2022, our cash
margins averaged more than
$100 per ton, compared to $38
per ton for 2021, which was our
previous record year. Cash
margins increased 18%
sequentially in 1Q23, mainly
$90
$80
$70
on lower cash mine costs.
Peer 1
(5
Realized Price Per Short Ton FOB Mine
Margins Per Ton
Realized Price
$140
$250
$120
$200
$100
$150
$80
$60
$100
$40
$50
$20
$0
방
Margins Per Short Ton FOB Mine
(1) Ramaco includes just Elk Creek Complex, as both Berwind and Knox Creek Complexes were ramping up production. Results are for full-year 1Q23. Peers include (alphabetically):
Alpha, Arch, Coronado, Peabody, Warrior; Source: Company documents, Bloomberg.
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