Note 11 - Related Party Transactions	6 Months Ended
Jun. 30, 2022
Notes to Financial Statements
RELATED PARTY TRANSACTIONS	NOTE 11—RELATED PARTY TRANSACTIONS Mineral Lease and Surface Rights Agreements—Prior to the acquisition of Ramaco Coal, LLC (“Ramaco Coal”), see Note 12, 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, who was a related party. Production royalty payables totaling $0.4 million at December 31, 2021 were included in accounts payable in the consolidated balance sheet. Royalties paid to Ramaco Coal in the three months ended June 30, 2022 and June 30, 2021 totaled $1.1 million and $1.5 million, respectively. Royalties paid to Ramaco Coal in the six months ended June 30, 2022 and June 30, 2021 totaled $3.1 million and $2.6 million, respectively. On-going Administrative Services—Also prior to the acquisition of Ramaco Coal, the Company and Ramaco Coal agreed to share the services of certain of each company’s employees pursuant to a Mutual Service Agreement, dated December 22, 2017 but effective as of March 31, 2017. 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. Charges to Ramaco Coal were $14 thousand and $44 thousand for the three and six months ended June 30, 2022, respectively. For the three and six months ended June 30, 2021, charges to Ramaco Coal were $30 thousand and $39 thousand, respectively. Legal Services—Some of the professional legal services we receive are provided by Jones & Associates (“Jones”), a related party. Legal services payable totaled $0.4 million at June 30, 2022 and were included in accounts payable in the consolidated balance sheet. There were no legal services payable as of December 31, 2021. Legal services paid to Jones in the three months ended June 30, 2022 and June 30, 2021 totaled $0.8 million and zero, respectively. Legal services paid to Jones in the six months ended June 30, 2022 and June 30, 2021 totaled $0.8 million and zero, respectively. Ramaco Coal Deferred Purchase Price—As part of the financing of the acquisition of Ramaco Coal (see Note 12), we incurred interest expense of $0.8 million for the three months and six months ended June 30, 2022.

Note 11 - Related Party Transactions

6 Months Ended

Jun. 30, 2022

NOTE 11—RELATED PARTY TRANSACTIONS

Mineral Lease and Surface Rights Agreements—Prior to the acquisition of Ramaco Coal, LLC (“Ramaco Coal”), see Note 12, 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, who was a related party. Production royalty payables totaling $0.4 million at December 31, 2021 were included in accounts payable in the consolidated balance sheet. Royalties paid to Ramaco Coal in the three months ended June 30, 2022 and June 30, 2021 totaled $1.1 million and $1.5 million, respectively. Royalties paid to Ramaco Coal in the six months ended June 30, 2022 and June 30, 2021 totaled $3.1 million and $2.6 million, respectively.

On-going Administrative Services—Also prior to the acquisition of Ramaco Coal, the Company and Ramaco Coal agreed to share the services of certain of each company’s employees pursuant to a Mutual Service Agreement, dated December 22, 2017 but effective as of March 31, 2017. 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. Charges to Ramaco Coal were $14 thousand and $44 thousand for the three and six months ended June 30, 2022, respectively. For the three and six months ended June 30, 2021, charges to Ramaco Coal were $30 thousand and $39 thousand, respectively.

Legal Services—Some of the professional legal services we receive are provided by Jones & Associates (“Jones”), a related party. Legal services payable totaled $0.4 million at June 30, 2022 and were included in accounts payable in the consolidated balance sheet. There were no legal services payable as of December 31, 2021. Legal services paid to Jones in the three months ended June 30, 2022 and June 30, 2021 totaled $0.8 million and zero, respectively. Legal services paid to Jones in the six months ended June 30, 2022 and June 30, 2021 totaled $0.8 million and zero, respectively.

Ramaco Coal Deferred Purchase Price—As part of the financing of the acquisition of Ramaco Coal (see Note 12), we incurred interest expense of $0.8 million for the three months and six months ended June 30, 2022.