Note 10 - Related Party Transactions	6 Months Ended
Jun. 30, 2018
Notes to Financial Statements
Related Party Transactions Disclosure [Text Block]	NOTE 10 —RELATED PARTY TRANSACTIONS Mineral Lease and Surface Rights Agreements Much of the coal reserves and surface rights that we control were acquired through a series of mineral leases and surface rights agreements with Ramaco Coal, LLC, a related party. Payments of minimum royalties and throughput payments commenced in 2017 pursuant to the terms of the agreements. Under these agreements, minimum royalties are paid in arrears each month to the extent that the earned production royalties for such month are less than the required minimums. Amounts due to Ramaco Coal, LLC of $2.6 million and $0.1 million at June 30, 2018 and December 31, 2017, respectively, are included in Accounts Payable in the condensed consolidated balance sheet and represent production royalty payables. It is anticipated that this payment will be made before year end 2018. Related Party Borrowings In May 2018, we borrowed $3.0 million from Ramaco Coal, LLC, a related party. Interest accrues monthly at 10.0%. The outstanding principal balance is due on August 15, 2018 but may be prepaid without penalty at any time. We are in discussions to extend the maturity of this obligation until November 15, 2018. As of June 30, 2018, the outstanding principal balance and carrying amount was $3.0 million. On-going Administrative Services Under a Mutual Services Agreement dated December 22, 2017 but effective as of March 31, 2017, the Company and Ramaco Coal, LLC agreed to share the services of certain of each company’s employees. Each party will pay the other a fee on a quarterly basis for such services calculated as the annual base salary of each employee providing services multiplied by the percentage of time each employee spent providing services for the other party. The services will be provided for 12 -month terms, but may be terminated by either party at the end of any 12 -month term by providing written notice at least 30 days prior to the end of the then-current term. No payments were made under this agreement in the six months ended June 30, 2018 and 2017.

NOTE

—RELATED PARTY TRANSACTIONS

Mineral Lease and Surface Rights Agreements

Much of the coal reserves and surface rights that we control were acquired through a series of mineral leases and surface rights agreements with Ramaco Coal, LLC, a related party. Payments of minimum royalties and throughput payments commenced in

2017

pursuant to the terms of the agreements. Under these agreements, minimum royalties are paid in arrears each month to the extent that the earned production royalties for such month are less than the required minimums. Amounts due to Ramaco Coal, LLC of

$2.6

million and

$0.1

million at

June 30, 2018

and

December

31,

2017,

respectively, are included in

Accounts Payable

in the condensed consolidated balance sheet and represent production royalty payables. It is anticipated that this payment will be made before year end

2018.

Related Party Borrowings

May 2018,

we borrowed

$3.0

million from Ramaco Coal, LLC, a related party. Interest accrues monthly at

10.0%.

The outstanding principal balance is due on

August 15, 2018

but

may

be prepaid without penalty at any time. We are in discussions to extend the maturity of this obligation until

November 15, 2018.

As of

June 30, 2018,

the outstanding principal balance and carrying amount was

$3.0

million.

On-going Administrative Services

Under a Mutual Services Agreement dated

December 22, 2017

but effective as of

March 31, 2017,

the Company and Ramaco Coal, LLC agreed to share the services of certain of each company’s employees. Each party will pay the other a fee on a quarterly basis for such services calculated as the annual base salary of each employee providing services multiplied by the percentage of time each employee spent providing services for the other party. The services will be provided for

-month terms, but

may

be terminated by either party at the end of any

-month term by providing written notice at least

days prior to the end of the then-current term.

payments were made under this agreement in the

six

months ended

June 30, 2018

and

2017.