We Believe METC’s Brook Mine Is a Hoax and Management Has Pumped the Stock with a Potemkin Mine and a Fantasy Economic Assessment

We are short Ramaco Resources (METC) as we believe it has manipulated key data to make its rare earths project, Brook Mine, appear profitable to investors. We spoke to 15 experts and veterans of the mining industry, including 6 PhDs, with over 400 years of combined industry experience. Not one of them thought Brook Mine was economically feasible. Some did not mince words, describing the project as a “pump and dump”, “modern day fraud”, “shit show”, and “science project.”

We would say that Brook Mine is digging a worthless hole in the ground, but drone footage we have taken weekly reveals that METC isn’t even actively digging despite a “grand opening” in mid-July where the CEO ceremoniously shoveled coal with state and federal officials. The ceremonial pile of coal which was used for the opening along with the cones that were put out for the event remain in place as seen below. The heavy machinery METC flexed at its grand opening for DOE Secretary, Chris Wright, and Fox News is nowhere to be found.