Ramaco Resources Inc-A 2024年度报告

Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes☐No☒ Indicate by check mark if the registrant is not required to file reports pursuant to Section13 or Section15(d)of the Act. Yes☐No☒ Indicate by check mark whether the registrant (1)has filed all reports required to be filed by Section13 or 15(d)of the Securities Exchange Act of1934 during the preceding 12months (or for such shorter period that the registrant was required to file such reports), and (2)has been subject tosuch filing requirements for the past 90days.Yes☒No☐ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant toRule405 of Regulation S-T(§232.405 of this chapter)during the preceding 12months (or for such shorter period that the registrant was requiredto submit such files).Yes☒No☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company,or an emerging growth company.See the definitions of "large accelerated filer," "accelerated filer," "smaller reporting company," and “emerginggrowth company” in Rule12b-2 of the Exchange Act. Largeacceleratedfiler☐Non-accelerated filer☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying withany new or revised financial accounting standards provided pursuant to Section13(a)of the Exchange Act.☐ Indicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of itsinternal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accountingfirm that prepared or issued its audit report.☒ If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant includedin the filing reflect the correction of an error to previously issued financial statements.☐ Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensationreceived by any of the registrant’s executive officers during the relevant recovery period pursuant to § 240.10D-1(b).☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule12b-2 of the Act).Yes☐No☒ As of June28, 2024, the last business day of the registrant’s most recently completed second fiscal quarter, the aggregate market value of commonstock held by non-affiliates of the registrant was approximately $405million. As of February 28, 2025, the registrant had44,403,347and9,596,356outstanding shares of Class A and Class B common stock, respectively. Certain information required to be furnished pursuant to PartIII of this Annual Report on Form10-K is set forth in, and is herebyincorporated by reference herein from, the definitive proxy statement for our 2025 Annual General Meeting of Stockholders, to be filed by RamacoResources with the Securities and Exchange Commission pursuant to Regulation 14A within 120days after December31, 2024. TABLE OF CONTENTS PARTI ITEM1.Business4ITEM1A.Risk Factors23ITEM1B.Unresolved Staff Comments63ITEM 1C.Cybersecurity63ITEM2.Properties64ITEM3.Legal Proceedings75ITEM4.Mine Safety Disclosures75PARTIIITEM5.Market for Registrant’s Common Equity and Related Shareholder Matters76ITEM6.[Reserved]77ITEM7.Management’s Discussion and Analysis of Financial Condition and Results ofOperations77ITEM7A.Quantitative and Qualitative Disclosures about Market Risk90ITEM8.Financial Statements and Supplementary Data91ITEM9.Changes in and Disagreements with Accountants on Accounting and FinancialDisclosure127ITEM9A.Controls and Procedures128ITEM9B.Other Information129ITEM 9C.Disclosures Regarding Foreign Jurisdictions that Prevent Inspections129PARTIIIITEM10.Directors, Executive Officers and Corporate Governance130ITEM11.Executive Compensation130ITEM12.Security Ownership of Certain Beneficial Owners and Management and RelatedStockholder Matters130ITEM13.Certain Relationships and Related Persons Transactions130ITEM14.Principal Accountant Fees and Services130PARTIVITEM15.Exhibits and Financial Statement Schedules131SIGNATURES141 CAUTIONARY NOTEREGARDING FORWARD-LOOKING STATEMENTS The information in this Annual Report on Form 10-K (the “Annual Report”) includes“forward-looking statements” within the meaning of Section27A of the Securities Act of 1933, asamended (the “Securities Act”) and Section21E of the Securities Exchange Act of 1934, as amended(the “Exchange Act”). All statements, other than statements of historical fact included in this report,regarding our strategy, future operations, financial position, estimated revenue and losses, projectedcosts, prospects, plans and objectives of management are forward-looking statem