Ramaco Resources, Inc. Announces Major Independent Rare Earth Elements Update From Weir International; New Shareholder Letter Released;
Portfolio Pulse from Benzinga Newsdesk
Ramaco Resources, Inc. (METC) announced the publication of an Updated Technical Report Summary by Weir International on the Brook Mine's rare earth opportunity, revealing significant increases in estimated rare earth tonnage volume and concentrations. The report indicates over 1.5 million total in-place rare earth oxide tons with average concentrations of almost 550 ppm, and some lithologies exceeding 9,000 ppm. Additionally, over 10% of the deposit contains critical minerals gallium and germanium, whose export China recently banned. An investor conference call to discuss these findings is scheduled for March 27, 2024.
March 21, 2024 | 8:26 pm
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Ramaco Resources, Inc. (METC) published a significant update on the Brook Mine's rare earth potential, showing doubled estimates in tonnage and concentrations, and the presence of critical minerals gallium and germanium.
The substantial increase in estimated rare earth tonnage and concentrations, along with the presence of critical minerals gallium and germanium, significantly enhances the Brook Mine's value and potential profitability. The recent ban by China on the export of these critical minerals further increases their value and the strategic importance of domestic sources like Brook Mine. This update is likely to positively impact investor sentiment and could lead to an increase in METC's stock price in the short term.
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