Watching Ramaco Resources, Inc.; Dan David Of Wolfpack Research Issues Report On The Co Titled "METC: Pumping And Dumping Nearly Worthless Dirt"
Portfolio Pulse from Benzinga Newsdesk
Dan David of Wolfpack Research has issued a critical report on Ramaco Resources, Inc. (METC), challenging the company's claims about the profitability of mining rare earth elements (REE) at its Brook Mine. The report suggests that METC's project is unprofitable, estimating a potential loss of $88 billion despite the company's assertion of a $37 billion value in REEs. It also highlights the lack of a PH4 and PH1 test for recoverability, insider stock sales, and the CEO's controversial history. Wolfpack Research is short METC.
December 11, 2023 | 3:07 pm
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NEGATIVE IMPACT
Wolfpack Research's report casts serious doubts on the profitability of METC's Brook Mine REE project, suggesting it could lead to an $88 billion loss. The report also notes insider stock sales and questions the CEO's credibility.
The negative report from a known short seller like Wolfpack Research is likely to shake investor confidence in METC, especially given the detailed criticism of the company's project viability, insider sales, and the CEO's history. This could lead to a short-term decline in METC's stock price as the market reacts to the possibility of the company's main project being unprofitable and the potential lack of transparency.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100