Note 11 - Subsequent Events	9 Months Ended
Sep. 30, 2018
Notes to Financial Statements
Subsequent Events [Text Block]	NOTE 11 — SUBSEQUENT EVENTS New Credit Facility On November 2, 2018 the Company (together with its subsidiaries, and collectively the “Borrower”) entered into a Credit and Security Agreement (the “Credit Facility”) with KeyBank National Association (“KeyBank”). The Credit Facility consists of a $10.0 million term loan (the “Term Loan”) and up to $30.0 million revolving line of credit, including $1.0 letter of credit availability (the “Revolving Credit Facility”). To secure the Credit Facility the Company pledged all personal property assets of Borrower, including, but not limited to accounts receivable, coal inventory, and certain surface mining equipment. Real property and improvements are excluded from the collateral package and are not encumbered in connection with the Credit Facility. The Company intends to use the Credit Facility to refinance the existing Equipment Note, Additional Equipment Note and the note due to Ramaco Coal, LLC, and provide working capital. The Revolving Credit Facility interest rate is based on Libor + 2.35% or Base Rate + 1.75 %. The Term Loan credit interest rate is based on Libor + 4.75% or Base Rate + 3.75%. Base Rate is the highest of (i) KeyBank’s prime rate, (ii) Federal Funds Effective Rate + 0.5%, or (iii) Libor + 1%. Both loans are initially base rate loans, but may be converted to Libor rate loans at certain times at the Company’s discretion. The Credit Facility has a maturity date of November 2, 2021. Partial Structural Failure of Storage Silo At approximately 1:00 p.m. on November 5, 2018, one of the Company’s three raw coal storage silos that feed its Elk Creek plant in West Virginia experienced a partial structural failure, which included the failure of various components internal to the silo. The damaged storage silo holds approximately two thousand raw tons of coal. The other two contiguous silos together hold approximately an additional one thousand five hundred raw tons of coal. The Company is in the process of evaluating the structural integrity of the damaged silo, and similar evaluations will be conducted on the other two silos at Elk Creek. All three silos were previously existing on the Elk Creek property when it was acquired by Ramaco in 2012, and were subsequently linked into the newly constructed preparation plant and loadout facility, which was completed in late 2017. There were no personnel related accidents as a result of the structural failure at the silo. Upon confirmation of the failure, Ramaco personnel idled the Elk Creek preparation plant, and placed a safety zone around the areas that could potentially be impacted from a more severe failure. As of the date of this report, the Company does not have an estimated time frame for the resumption of processing or shipping coal from the Elk Creek infrastructure and is unable to predict the overall impact that the incident will have on the Company’s business and future results of operations.

NOTE

—

SUBSEQUENT EVENTS

New Credit Facility

November 2, 2018

the Company (together with its subsidiaries, and collectively the “Borrower”) entered into a Credit and Security Agreement (the “Credit Facility”) with KeyBank National Association (“KeyBank”). The Credit Facility consists of a

$10.0

million term loan (the “Term Loan”) and up to

$30.0

million revolving line of credit, including

$1.0

letter of credit availability (the “Revolving Credit Facility”). To secure the Credit Facility the Company pledged all personal property assets of Borrower, including, but

not

limited to accounts receivable, coal inventory, and certain surface mining equipment. Real property and improvements are excluded from the collateral package and are

not

encumbered in connection with the Credit Facility. The Company intends to use the Credit Facility to refinance the existing Equipment Note, Additional Equipment Note and the note due to Ramaco Coal, LLC, and provide working capital.

The Revolving Credit Facility interest rate is based on Libor +

2.35%

or Base Rate +

1.75

%. The Term Loan credit interest rate is based on Libor +

4.75%

or Base Rate +

3.75%.

Base Rate is the highest of (i) KeyBank’s prime rate, (ii) Federal Funds Effective Rate +

0.5%,

or (iii) Libor +

1%.

Both loans are initially base rate loans, but

may

be converted to Libor rate loans at certain times at the Company’s discretion.

The Credit Facility has a maturity date of

November 2, 2021.

Partial Structural Failure of Storage Silo

At approximately

1:00

p.m. on

November 5, 2018,

one

of the Company’s

three

raw coal storage silos that feed its Elk Creek plant in West Virginia experienced a partial structural failure, which included the failure of various components internal to the silo. The damaged storage silo holds approximately

two thousand

raw tons of coal. The other

two

contiguous silos together hold approximately an additional

one thousand five hundred

raw tons of coal.

The Company is in the process of evaluating the structural integrity of the damaged silo, and similar evaluations will be conducted on the other

two

silos at Elk Creek. All

three

silos were previously existing on the Elk Creek property when it was acquired by Ramaco in

2012,

and were subsequently linked into the newly constructed preparation plant and loadout facility, which was completed in late

2017.

There were

personnel related accidents as a result of the structural failure at the silo. Upon confirmation of the failure, Ramaco personnel idled the Elk Creek preparation plant, and placed a safety zone around the areas that could potentially be impacted from a more severe failure. As of the date of this report, the Company does

not

have an estimated time frame for the resumption of processing or shipping coal from the Elk Creek infrastructure and is unable to predict the overall impact that the incident will have on the Company’s business and future results of operations.