Ramaco revises shareholder letter, removes development option and valuation tables, clarifies Fluor study as conceptual

Ramaco filed an amended Form 8-K to revise its Sept. 18, 2025 shareholder letter on the Brook Mine rare earth project.

• The amendment removed tabulations covering development options, margin and cash flow analysis, valuation, and production metrics.
• It also clarified that Fluor’s “Preliminary Economic Assessment” was a conceptual study, now referenced as the “Fluor Study.”