Ramaco which just listed on the NASDAQ is valued at...

Ramaco which just listed on the NASDAQ is valued at US$500million based on metallurgical coal in West Virginia. It was a Private Equity deal , they put in around $90million and acquired properties over the last few years it seems and then packaged them up. Production might hit 2.5million tpa, not sure on margins. They only started producing this quarter , they control a lot of resource but not sure of the quality or economic potential


Anyway there is clearly strong demand for quality plays and the big question is whether PNL just raise the CAPEX via IPO and forgot the debt markets, this option was not even a possibility pre The Donald.

I prefer that option if the pricing is OK because it gives a lot of financial flexibility, the market will also value the stock higher if debt free.

Normally I would have done some profit taking at this stage, but like everyone else it seems holding on for better prices ahead.