Ramaco Resources, Inc. (NASDAQ:METC) Q2 2024 Earnings Conference Call August 8, 2024 9:00 AM ET

Company Participants

Jeremy Sussman - Chief Financial Officer
Randy Atkins - Chairman & Chief Executive Officer
Chris Blanchard - EVP, Mine Planning & Development
Jason Fannin - Chief Commercial Officer

Conference Call Participants

Nathan Martin - Benchmark Company
Lucas Pipes - B. Riley Securities

Operator

Good day and welcome to the Ramaco Resources Second Quarter 2024 Results Conference Call. All participants will be in listen-only mode. [Operator Instructions] After today’s presentation, there will be an opportunity to ask questions. [Operator Instructions] Please note this event is being recorded.

I would now like to turn the conference over to Jeremy Sussman, Chief Financial Officer. Please go ahead.

Jeremy Sussman

Thank you. On behalf of Ramaco Resources, I'd like to welcome all of you to our second quarter 2024 earnings conference call. With me this morning is Randy Atkins, our Chairman and CEO; Chris Blanchard, our EVP for Mine Planning and Development; and Jason Fannin, our Chief Commercial Officer.

Before we start, I'd like to share our normal cautionary statement. Certain items discussed on today's call constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements represent Ramaco's expectations concerning future events. These statements are subject to risks, uncertainties, and other factors, many of which are outside of Ramaco’s control, which could cause actual results to differ materially from the results discussed in these forward-looking statements.

Any forward-looking statement speaks only as of the date on which it is made except as required by law, Ramaco does not undertake any obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.

I'd also like to remind you that you can find a reconciliation of the non-GAAP financial measures that we plan to discuss today in our press release, which can be viewed on our website, www.ramacoresources.com.

Lastly, I'd of course encourage everyone on this call to go on to our website and download today's investor presentation.

With that said let, me introduce our Chairman and CEO, Randy Atkins.

Randy Atkins

Thanks Jimmy. Good morning to everyone and thanks for joining the call. As we had hoped our second quarter results were much better than our first both on operations and financially. This improvement came in spite of the continued softness in the global coal pricing. Last quarter, we saw US met coal indices dropped by 15% and they're now down 25% since the start of the year. We also made some solid progress this quarter on our RE project in Wyoming, which I will mention later.