Note 1 - Description of Business and Basis of Presentation	12 Months Ended
Dec. 31, 2017
Notes to Financial Statements
Business Description and Basis of Presentation [Text Block]	NOTE 1 – DESCRIPTION OF BUSINESS AND BASIS OF PRESENTATION Ramaco Resources, Inc. is a Delaware corporation formed in October 2016. Our principal corporate offices are located in Lexington, Kentucky. Through our wholly-owned subsidiary, Ramaco Development, LLC, we are an operator and developer of high-quality, low-cost metallurgical coal in southern West Virginia, southwestern Virginia, and southwestern Pennsylvania. We commenced initial production of metallurgical coal at our Elk Creek mining complex in late December 2016. During 2017, we completed the development and activation of two deep mines and a surface mine at our Elk Creek mining complex. Additionally, we activated the Elk Creek preparation plant and rail loadout facility in late October 2017. We started development production at a third deep mine at Elk Creek in January 2018. We also began development mining at our Berwind property in late 2017 and expanded third -party coal purchases which augmented our sales in 2017. Our production for 2017 totaled 548 thousand clean tons of metallurgical coal. In 2017, we sold approximately 60 8 thousand tons of coal, including approximately 236 thousand tons of coal we purchased from third parties. On February 8, 2017, we completed the IPO of our common stock pursuant to a registration statement on Form S- 1 (File 333 - 215363 ), as amended and declared effective by the SEC on February 2, 2017. Pursuant to the registration statement, we registered the sale of 6.0 million shares of $0.01 par value common stock, which included 3.8 million shares of common stock sold by the Company and 2.2 million shares of common stock sold by the selling stockholders. Proceeds of our IPO, based on the public offering price of $13.50 per share, were approximately $51.3 million. After subtracting underwriting discounts and commissions of $3.6 million, we received net proceeds of approximately $43.7 million, after deducting discounts and offering expenses paid directly by us. We used $10.7 million of the net proceeds to repay indebtedness owed to Ramaco Coal, LLC, an affiliated entity. The remaining proceeds of the IPO were used for general corporate purposes including development of the Elk Creek mining complex and Berwind property. All units of our then-outstanding convertible Series A preferred units automatically converted into an aggregate of 12.76 million shares of common stock at the time of the IPO. Pursuant to the terms of a corporate reorganization (Reorganization) that was completed in connection with the closing of our IPO, all the interests in Ramaco Development, LLC were exchanged for our newly issued common shares and as a result, Ramaco Development, LLC became our wholly-owned subsidiary. Therefore, the financial information for periods through February 8, 2017 pertain to the historical financial statements and results of operations of Ramaco Development, LLC. The terms “the Company,” “we,” “us,” “our,” and similar terms when used in the present tense, prospectively or for periods since our Reorganization on February 8, 2017, refer to Ramaco Resources, Inc. and its subsidiaries, and for historical periods prior to our Reorganization refer to Ramaco Development LLC and its subsidiaries. Intercompany balances and transactions between consolidated entities are eliminated.

NOTE

–

DESCRIPTION OF BUSINESS

AND BASIS OF PRESENTATION

Ramaco Resources, Inc. is a Delaware corporation formed in

October 2016.

Our principal corporate offices are located in Lexington, Kentucky.

Through our wholly-owned subsidiary, Ramaco Development, LLC, we are an operator and developer of high-quality, low-cost metallurgical coal in southern West Virginia, southwestern Virginia, and southwestern Pennsylvania.

We commenced initial production of metallurgical coal at our Elk Creek mining complex in

late

December 2016.

During

2017,

we completed the development and activation of

two

deep mines and a surface mine at our Elk Creek mining complex. Additionally, we activated the Elk Creek preparation plant and rail loadout facility in late

October 2017.

We started development production at a

third

deep mine at Elk Creek in

January 2018.

We also began development mining at our Berwind property in late

2017

and expanded

third

-party coal purchases which augmented our sales in

2017.

Our production for

2017

totaled

548

thousand clean tons of metallurgical coal.

2017,

we sold approximately

thousand tons of coal, including approximately

236

thousand tons of coal we purchased from

third

parties.

February 8, 2017,

we completed

the IPO of our common stock pursuant to a registration statement on Form S-

(File

333

215363

), as amended and declared effective by the SEC on

February 2, 2017.

Pursuant to the registration statement, we registered the sale of

6.0

million shares of

$0.01

par value common stock, which included

3.8

million shares of common stock sold by the Company and

2.2

million shares of common stock sold by the selling stockholders.

Proceeds of

our IPO, based on the public offering price of

$13.50

per share, were approximately

$51.3

million. After subtracting underwriting discounts and commissions of

$3.6

million, we received net proceeds of approximately

$43.7

million, after deducting discounts and offering expenses paid directly by us. We used

$10.7

million of the net proceeds to repay indebtedness owed to Ramaco Coal, LLC, an affiliated entity. The remaining proceeds of the IPO were used for general corporate purposes including development of the Elk Creek mining complex and Berwind property. All units of our then-outstanding convertible Series A preferred units automatically converted into an aggregate of

12.76

million shares of common stock at the time of the IPO.

Pursuant to the terms of a corporate reorganization

(Reorganization) that was completed in connection with the closing of our IPO, all the interests in Ramaco Development, LLC were exchanged for our newly issued common shares and as a result, Ramaco Development, LLC became our wholly-owned subsidiary. Therefore, the financial information for periods through

February 8, 2017

pertain to the historical financial statements and results of operations of Ramaco Development, LLC.

The terms “the Company,” “we,” “us,” “our,” and similar terms when used in the present tense, prospectively or for periods since our Reorganization on

February 8, 2017,

refer to

Ramaco Resources, Inc. and its subsidiaries, and for historical periods prior to our Reorganization refer to Ramaco Development LLC and its subsidiaries. Intercompany balances and transactions between consolidated entities are eliminated.