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Ramaco Resources, Inc. – ‘10-K’ for 12/31/23 – ‘EX-23.1’

On:  Thursday, 3/14/24, at 5:25pm ET   ·   For:  12/31/23   ·   Accession #:  1558370-24-3256   ·   File #:  1-38003

Previous ‘10-K’:  ‘10-K/A’ on 4/7/23 for 12/31/22   ·   Latest ‘10-K’:  This Filing   ·   33 References:   

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  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

 3/14/24  Ramaco Resources, Inc.            10-K       12/31/23   93:12M                                    Toppan Merrill Bridge/FA

Annual Report   —   Form 10-K   —   SEA’34

Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 10-K        Annual Report                                       HTML   3.39M 
 2: EX-4.4      Instrument Defining the Rights of Security Holders  HTML    154K 
 3: EX-21.1     Subsidiaries List                                   HTML     31K 
 4: EX-23.1     Consent of Expert or Counsel                        HTML     25K 
 5: EX-23.2     Consent of Expert or Counsel                        HTML     26K 
 6: EX-23.4     Consent of Expert or Counsel                        HTML     25K 
11: EX-95.1     Mine-Safety Disclosure                              HTML    224K 
12: EX-97.1     Clawback Policy re: Recovery of Erroneously         HTML     49K 
                Awarded Compensation                                             
 7: EX-31.1     Certification -- §302 - SOA'02                      HTML     35K 
 8: EX-31.2     Certification -- §302 - SOA'02                      HTML     37K 
 9: EX-32.1     Certification -- §906 - SOA'02                      HTML     28K 
10: EX-32.2     Certification -- §906 - SOA'02                      HTML     28K 
18: R1          Document And Entity Information                     HTML    102K 
19: R2          Consolidated Balance Sheets                         HTML    137K 
20: R3          Consolidated Balance Sheets (Parentheticals)        HTML     49K 
21: R4          Consolidated Statements of Operations               HTML     84K 
22: R5          Consolidated Statements of Equity                   HTML     61K 
23: R6          Consolidated Statements of Cash Flows               HTML    158K 
24: R7          Consolidated Statement of Cash Flows                HTML     27K 
                (Parenthetical)                                                  
25: R8          Note 1 - Description of Business                    HTML     29K 
26: R9          Note 2 - Summary of Significant Accounting          HTML     71K 
                Policies                                                         
27: R10         Note 3 - Property, Plant and Equipment              HTML     67K 
28: R11         Note 4 - Acquisitions                               HTML     35K 
29: R12         Note 5 - Asset Retirement Obligations               HTML     42K 
30: R13         Note 6 - Accrued Liabilities and Other Long-Term    HTML     30K 
                Liabilities                                                      
31: R14         Note 7 - Debt                                       HTML     70K 
32: R15         Note 8 - Leases                                     HTML    101K 
33: R16         Note 9 - Equity                                     HTML    138K 
34: R17         Note 10 - Commitments and Contingencies             HTML     36K 
35: R18         Note 11 - Revenue                                   HTML     51K 
36: R19         Note 12 - Related Party Transactions                HTML     34K 
37: R20         Note 13 - Income Taxes                              HTML    113K 
38: R21         Note 14 - Earnings (Loss) Per Share                 HTML    152K 
39: R22         Note 15 - Subsequent Events                         HTML     28K 
40: R23         Note 2 - Summaries of Significant Accounting        HTML    106K 
                Policies (Policies)                                              
41: R24         Note 3 - Property, Plant and Equipment (Tables)     HTML     65K 
42: R25         Note 5 - Asset Retirement Obligations (Tables)      HTML     41K 
43: R26         Note 7 - Debt (Tables)                              HTML     59K 
44: R27         Note 8 - Leases (Tables)                            HTML    139K 
45: R28         Note 9 - Equity (Tables)                            HTML    109K 
46: R29         Note 11 - Revenue (Tables)                          HTML     45K 
47: R30         Note 13 - Income Taxes (Tables)                     HTML    112K 
48: R31         Note 14 - Earnings Per Share (Tables)               HTML    145K 
49: R32         Note 2 - Summary of Significant Accounting          HTML     38K 
                Policies (Details)                                               
50: R33         Note 2 - Summary of Significant Accounting          HTML     30K 
                Policies - Property, plant, and equipment                        
                (Details)                                                        
51: R34         Note 2 - Summary of Significant Accounting          HTML     30K 
                Policies - Fair Value Measurements (Details)                     
52: R35         Note 2 - Summary of Significant Accounting          HTML     29K 
                Policies - Income Taxes (Details)                                
53: R36         Note 2 - Summary of Significant Accounting          HTML     56K 
                Policies - Concentrations (Details)                              
54: R37         Note 3 - Property, Plant and Equipment - Schedule   HTML     50K 
                of Property, Plant and Equipment (Details)                       
55: R38         Note 3 - Property, Plant and Equipment -            HTML     35K 
                Depreciation and amortization (Details)                          
56: R39         Note 3 - Property, Plant and Equipment - Narrative  HTML     33K 
                (Details)                                                        
57: R40         Note 4 - Acquisitions (Details)                     HTML    108K 
58: R41         Note 5 - Asset Retirement Obligations - Schedule    HTML     35K 
                of Retirement Obligations (Details)                              
59: R42         Note 6 - Accrued Liabilities and Other Long-Term    HTML     42K 
                Liabilities (Details)                                            
60: R43         Note 7 - Debt - Summary of Outstanding Debt         HTML     38K 
                (Details)                                                        
61: R44         Note 7 - Debt - Revolving Credit Facility           HTML     52K 
                (Details)                                                        
62: R45         Note 7 - Debt - Key Equipment Finance Loan          HTML     42K 
                (Details)                                                        
63: R46         Note 7 - Debt - J. H. Fletcher & Co. Loan           HTML     47K 
                (Details)                                                        
64: R47         Note 7 - Debt - Komatsu Financial Limited           HTML     48K 
                Partnership Loan (Details)                                       
65: R48         Note 7 - Debt - Brandeis Machinery & Supply         HTML     42K 
                Company (Details)                                                
66: R49         Note 7 - Debt - Senior Unsecured Notes due 2026     HTML     49K 
                (Details)                                                        
67: R50         Note 7 - Debt - Ramaco Coal Deferred Purchase       HTML    100K 
                Price (Detail)                                                   
68: R51         Note 7 - Debt - Maturities of Debt (Details)        HTML     37K 
69: R52         Note 8 - Leases (Details)                           HTML     67K 
70: R53         Note 8 - Leases - Maturities of operating lease     HTML     86K 
                liabilities (Details)                                            
71: R54         Note 9 - Equity - Common Stock (Details)            HTML     68K 
72: R55         Note 9 - Equity - Options (Details)                 HTML    196K 
73: R56         Note 9 - Equity - Summary of Restricted Awards      HTML    144K 
                Activity (Details)                                               
74: R57         Note 9 - Equity - Dividends (Details)               HTML     31K 
75: R58         Note 10 - Commitments and Contingencies (Details)   HTML     73K 
76: R59         Note 10 - Commitments and Contingencies - Future    HTML     43K 
                Minimum Lease and Royalty Payments (Details)                     
77: R60         Note 11 - Revenue (Details)                         HTML     44K 
78: R61         Note 11 - Revenue - Domestic Revenues an Export     HTML     48K 
                Revenues (Details)                                               
79: R62         Note 11 - Revenue - Concentrations (Details)        HTML     56K 
80: R63         Note 12 - Related Party Transactions (Details)      HTML     59K 
81: R64         Note 13 - Income Taxes (Details)                    HTML     50K 
82: R65         Note 13 - Income Taxes - Reconciliation of Income   HTML     47K 
                Tax Expense (Benefit) (Details)                                  
83: R66         Note 13 - Income Taxes - Components of Deferred     HTML     44K 
                Income Tax Assets and Liabilities (Details)                      
84: R67         Note 13 - Income Taxes - Narratives (Details)       HTML     42K 
85: R68         Note 14 - Earnings Per Share - Computation of       HTML    121K 
                Basic and Diluted Earnings per Share (Details)                   
86: R69         Note 15 - Subsequent Events (Details)               HTML     44K 
87: R70         Pay vs Performance Disclosure                       HTML     38K 
88: R71         Insider Trading Arrangements                        HTML     42K 
90: XML         IDEA XML File -- Filing Summary                      XML    158K 
93: XML         XBRL Instance -- metc-20231231x10k_htm               XML   2.35M 
89: EXCEL       IDEA Workbook of Financial Report Info              XLSX    172K 
14: EX-101.CAL  XBRL Calculations -- metc-20231231_cal               XML    213K 
15: EX-101.DEF  XBRL Definitions -- metc-20231231_def                XML   1.06M 
16: EX-101.LAB  XBRL Labels -- metc-20231231_lab                     XML   1.48M 
17: EX-101.PRE  XBRL Presentations -- metc-20231231_pre              XML   1.26M 
13: EX-101.SCH  XBRL Schema -- metc-20231231                         XSD    222K 
91: JSON        XBRL Instance as JSON Data -- MetaLinks              538±   807K 
92: ZIP         XBRL Zipped Folder -- 0001558370-24-003256-xbrl      Zip    932K 


‘EX-23.1’   —   Consent of Expert or Counsel


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Exhibit 23.1

Consent of Independent Registered Public Accounting Firm

We hereby consent to the incorporation by reference in the Registration Statements on Form S-3s
(File Nos. 333-261228 and 333-274324), Form S-1 (File No. 333-267152), Form S-8s (File Nos. 333-215913 and 333-265384) of our report dated March 14, 2024, with respect to our audits of the consolidated financial statements of Ramaco Resources, Inc. (the “Company”), and the effectiveness of the Company’s internal control over financial reporting, appearing in the Annual Report on Form 10-K as of and for the year ended December 31, 2023, and to reference to us under the heading “Experts” in such registration statements.

/s/ Cherry Bekaert LLP

Louisville, Kentucky

March 14, 2024



Dates Referenced Herein

This ‘10-K’ Filing    Date    Other Filings
Filed on:3/14/24None on these Dates
For Period end:12/31/23
 List all Filings 


33 Previous Filings that this Filing References

  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

 2/01/24  Ramaco Resources, Inc.            8-K:1,5,7,9 1/26/24   13:366K                                   Toppan Merrill/FA
11/06/23  Ramaco Resources, Inc.            8-K:4,9    11/01/23   12:262K                                   Toppan Merrill/FA
 6/12/23  Ramaco Resources, Inc.            8-K:3,5,8,9 6/12/23   13:354K                                   Toppan Merrill/FA
 4/07/23  Ramaco Resources, Inc.            10-K/A     12/31/22   16:9.2M                                   Toppan Merrill/FA
 3/14/23  Ramaco Resources, Inc.            10-K       12/31/22   84:21M                                    Toppan Merrill Bridge/FA
 2/17/23  Ramaco Resources, Inc.            8-K:1,2,7,9 2/15/23   13:1.2M                                   Toppan Merrill/FA
 1/10/23  Ramaco Resources, Inc.            10-K/A     12/31/21   84:21M                                    Toppan Merrill/FA
11/09/22  Ramaco Resources, Inc.            10-Q        9/30/22   58:6M                                     Toppan Merrill Bridge/FA
 9/26/22  Ramaco Resources, Inc.            8-K:1,2,7,9 9/23/22   13:859K                                   Toppan Merrill/FA
 8/09/22  Ramaco Resources, Inc.            10-Q        6/30/22   60:5.6M                                   Toppan Merrill Bridge/FA
 8/08/22  Ramaco Resources, Inc.            8-K:1,7,9   8/08/22   13:883K                                   Toppan Merrill/FA
 4/20/22  Ramaco Resources, Inc.            8-K:4,9     4/14/22   12:253K                                   Toppan Merrill/FA
 4/01/22  Ramaco Resources, Inc.            10-K       12/31/21   89:21M                                    Toppan Merrill Bridge/FA
 2/24/22  Ramaco Resources, Inc.            8-K:1,7,9   2/24/22   13:741K                                   Toppan Merrill/FA
 2/02/22  Ramaco Resources, Inc.            8-K:5,9     2/02/22   12:251K                                   Toppan Merrill/FA
 1/24/22  Ramaco Resources, Inc.            8-K:4,9     1/20/22   12:265K                                   Toppan Merrill/FA
11/02/21  Ramaco Resources, Inc.            8-K:1,2,7,911/02/21   13:2M                                     Toppan Merrill Bridge/FA
10/26/21  Ramaco Resources, Inc.            8-K:1,7,9  10/26/21   12:24M                                    Toppan Merrill/FA
 7/13/21  Ramaco Resources, Inc.            8-K:1,2,8,9 7/13/21    4:634K                                   Toppan Merrill/FA
 2/18/21  Ramaco Resources, Inc.            10-K       12/31/20   88:7.4M                                   Toppan Merrill Bridge/FA
12/15/20  Ramaco Resources, Inc.            8-K:5,9    12/10/20    3:73K                                    Toppan Merrill Bridge/FA
 4/28/20  Ramaco Resources, Inc.            8-K:5,9     4/27/20    2:192K                                   Toppan Merrill Bridge/FA
 4/21/20  Ramaco Resources, Inc.            8-K:1,2,5,8 4/15/20    5:393K                                   Toppan Merrill Bridge/FA
 2/20/20  Ramaco Resources, Inc.            10-K       12/31/19   91:8.3M                                   Toppan Merrill Bridge/FA
12/16/19  Ramaco Resources, Inc.            8-K/A:5,9  12/10/19    3:106K                                   Toppan Merrill Bridge/FA
12/13/19  Ramaco Resources, Inc.            8-K:5,9    12/10/19    5:174K                                   Toppan Merrill Bridge/FA
 3/21/18  Ramaco Resources, Inc.            10-K       12/31/17   75:5.7M                                   RDG Filings/FA
12/29/17  Ramaco Resources, Inc.            8-K:5,9    12/28/17    2:85K                                    Donnelley … Solutions/FA
 7/05/17  Ramaco Resources, Inc.            8-K:5,9     6/28/17    3:110K                                   Donnelley … Solutions/FA
 2/14/17  Ramaco Resources, Inc.            8-K:1,2,3,5 2/08/17   16:1M                                     Donnelley … Solutions/FA
 2/07/17  Ramaco Resources, Inc.            8-K:1,2,3,5 2/02/17    3:319K                                   Donnelley … Solutions/FA
 2/06/17  Ramaco Resources, Inc.            S-8         2/06/17    6:197K                                   Donnelley … Solutions/FA
12/29/16  Ramaco Resources, Inc.            S-1                   37:8.2M                                   Donnelley … Solutions/FA
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Filing Submission 0001558370-24-003256   –   Alternative Formats (Word / Rich Text, HTML, Plain Text, et al.)

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