Note 1 - Description of Business and Basis of Presentation	12 Months Ended
Dec. 31, 2018
Notes to Financial Statements
Business Description and Basis of Presentation [Text Block]	NOTE 1 – DESCRIPTION OF BUSINESS AND BASIS OF PRESENTATION Description of the Business Ramaco Resources, Inc. (“Ramaco” or the “Company”) 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. Our surface mine utilizes both the contour and highwall mining methods. During 2018, we completed the development and activation of a third deep mine at Elk Creek. We completed construction of the preparation plant and rail loadout facility at Elk Creek in February of 2018.We also began development mining at our Berwind property in late 2017. Initial Public Offering On February 8, 2017, we completed the initial public offering (“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 from 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 from 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. Basis of Presentation Pursuant to the terms of a corporate reorganization (the “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. The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and U.S. Securities and Exchange Commission regulations. The financial statements are presented on a consolidated basis for all periods presented. Intercompany balances and transactions between consolidated entities have been eliminated in consolidation.

NOTE

–

DESCRIPTION OF BUSINESS

AND BASIS OF PRESENTATION

Description of the Business

Ramaco Resources, Inc. (“Ramaco” or the “Company”) 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. Our surface mine utilizes both the contour and highwall mining methods. During

2018,

we completed the development and activation of a

third

deep mine at Elk Creek. We completed construction of the preparation plant and rail loadout facility at Elk Creek in

February

2018.We

also began development mining at our Berwind property in late

2017.

Initial Public Offering

February 8, 2017,

we completed the initial public offering (“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 from 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 from 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.

Basis of Presentation

Pursuant to the terms of a corporate reorganization (the “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.

The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and U.S. Securities and Exchange Commission regulations. The financial statements are presented on a consolidated basis for all periods presented. Intercompany balances and transactions between consolidated entities have been eliminated in consolidation.