Brief: Ramaco Resources Inc announces completion of temporary conveying system at its Elk Creek Plant

Ramaco Resources

04/12/2018 21:37

Dec 4 (Reuters) - Ramaco Resources Inc  METC.O :
    * RAMACO RESOURCES, INC. ANNOUNCES COMPLETION OF TEMPORARY
CONVEYING SYSTEM AT ITS ELK CREEK PLANT AND RESUMES COAL
SHIPMENTS FROM ELK CREEK
    * RAMACO RESOURCES - TEMPORARY CONVEYING SYSTEM ALLOWS
IMMEDIATE
PROCESSING, SHIPPING OF COAL AT ESTIMATED 55%-65% OF ELK CREEK
PLANT CAPACITY, THROUGHOUT DEC
    * RAMACO RESOURCES - IS IN THE PROCESS OF FABRICATING A
SECOND
HIGHER CAPACITY PERMANENT BYPASS SYSTEM AT ELK CREEK PLANT
    * RAMACO RESOURCES - SECOND BYPASS SYSTEM EXPECTED TO
PROVIDE
SECONDARY CONVEYANCE SYSTEM WHICH WILL OPERATE AT ABOUT 80% OF
ELK CREEK PLANT CAPACITY
    * RAMACO RESOURCES - SECOND BYPASS SYSTEM AT ELK CREEK PLANT
IS
EXPECTED TO BE COMPLETED IN EARLY JANUARY 2019
    * RAMACO RESOURCES - IN Q1 2019, EXPECTS TO RESUME FULL
NORMALIZED
FEED TO ELK CREEK PLANT THROUGH THE ORIGINAL CONVEYANCE SYSTEM
AT 100% OF CAPACITY
    * RAMACO RESOURCES - CO DOES NOT ANTICIPATE SIGNIFICANT
ADVERSE
FINANCIAL IMPACTS ON 2019 COAL SALES FROM SILO FAILURE AND ITS
IMMEDIATE AFTERMATH
    * RAMACO RESOURCES - PROJECTS HAVING SUFFICIENT LIQUIDITY TO
CONTINUE TO OPERATE ITS MINES, IMPLEMENT IMPROVEMENTS TO
CONVEYOR SYSTEMS AT ELK CREEK PLANT
    * RAMACO RESOURCES - PROJECTS HAVING SUFFICIENT LIQUIDITY TO
FUND
ITS 2019 BUSINESS PLAN

Source text for Eikon: https://bit.ly/2FXXUir
Further company coverage:  METC.O 

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