Ramaco Resources (METC) 10-Q 7 May 19 2019 Q1 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	3 Months Ended
	Mar. 31, 2019	May 03, 2019
Document Information [Line Items]
Entity Registrant Name	Ramaco Resources, Inc.
Entity Central Index Key	0001687187
Trading Symbol	metc
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Entity Current Reporting Status	Yes
Entity Emerging Growth Company	true
Entity Ex Transition Period	true
Entity Small Business	true
Entity Common Stock, Shares Outstanding (in shares)		40,832,467
Document Type	10-Q
Document Period End Date	Mar. 31, 2019
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q1
Amendment Flag	false

Unaudited Condensed Consolidate

Unaudited Condensed Consolidated Balance Sheets (Current Period) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Current assets
Cash and cash equivalents	$ 1,939	$ 6,951
Accounts receivable	27,285	10,729
Inventories	15,027	14,185
Prepaid expenses	1,958	3,154
Total current assets	46,209	35,019
Property, plant and equipment, net	156,343	149,205
Advanced coal royalties	3,126	3,045
Other assets	1,013	975
Total Assets	206,691	188,244
Current liabilities
Accounts payable	15,247	16,393
Accrued expenses	9,124	8,094
Asset retirement obligations	292	71
Current portion of long-term debt	5,000	5,000
Other	116	287
Total current liabilities	29,779	29,845
Asset retirement obligations	12,657	12,707
Long-term debt, net	13,737	4,474
Deferred tax liability	1,450	109
Other long-term liabilities	182
Total liabilities	57,805	47,135
Commitments and contingencies
Stockholders' Equity
Preferred stock, $0.01 par value, 50,000,000 shares authorized, none issued and outstanding
Common stock, $0.01 par value, 260,000,000 shares authorized, 40,832,890 and 40,082,467 shares issued and outstanding, respectively	408	401
Additional paid-in capital	151,813	150,926
Accumulated deficit	(3,335)	(10,218)
Total stockholders' equity	148,886	141,109
Total Liabilities and Stockholders' Equity	$ 206,691	$ 188,244

Unaudited Condensed Consolida_2

Unaudited Condensed Consolidated Balance Sheets (Current Period) (Parentheticals) - $ / shares	Mar. 31, 2019	Dec. 31, 2018
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	50,000,000	50,000,000
Preferred stock, shares outstanding (in shares)	0	0
Preferred stock, shares Issued (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	260,000,000
Common stock, shares issued (in shares)	40,832,890	40,082,467
Common stock, shares outstanding (in shares)	40,832,890	40,082,467

Unaudited Condensed Consolida_3

Unaudited Condensed Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Revenues	$ 57,460	$ 55,943
Cost and expenses
Cost of sales (exclusive of items shown separately below)	41,006	44,331
Asset retirement obligation accretion	128	123
Depreciation and amortization	4,116	2,438
Selling, general and administrative	3,960	3,431
Total cost and expenses	49,210	50,323
Operating income	8,250	5,620
Other income	298	489
Interest expense, net	(307)	(100)
Income before taxes	8,241	6,009
Income tax expense	1,358	743
Net income	$ 6,883	$ 5,266
Basic and diluted earnings per share
Basic (in dollars per share)	$ 0.17	$ 0.13
Diluted (in dollars per share)	$ 0.17	$ 0.13
Weighted average common shares outstanding
Basic (in shares)	40,604	39,905
Diluted (in shares)	40,652	40,142

Unaudited Condensed Consolida_4

Unaudited Condensed Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Total
Balance at Dec. 31, 2017	$ 396	$ 148,293	$ (35,292)	$ 113,397
Equity-based compensation	5	546		551
Net income			5,266	5,266
Balance at Mar. 31, 2018	401	148,839	(30,026)	119,214
Balance at Dec. 31, 2018	401	150,926	(10,218)	141,109
Equity-based compensation	7	887		894
Net income			6,883	6,883
Balance at Mar. 31, 2019	$ 408	$ 151,813	$ (3,335)	$ 148,886

Unaudited Condensed Consolida_5

Unaudited Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Cash flows from operating activities
Net income	$ 6,883	$ 5,266
Adjustments to reconcile net income to net cash from operating activities
Accretion of asset retirement obligations	128	123
Depreciation and amortization	4,116	2,438
Amortization of debt issuance costs	14	48
Stock-based compensation	894	551
Deferred income tax expense	1,341	709
Changes in operating assets and liabilities
Accounts receivable	(16,556)	(16,331)
Prepaid expenses	1,196	(1,464)
Inventories	(842)	(74)
Advanced coal royalties	(81)
Other assets and liabilities	144	44
Accounts payable	(4,159)	8,562
Accrued expenses	(1,031)	(3,564)
Net cash from operating activities	(5,891)	3,436
Cash flow from investing activities
Purchases of property, plant and equipment	(8,199)	(12,769)
Proceeds from maturities of investment securities		5,200
Net cash from investing activities	(8,199)	(7,569)
Cash flows from financing activities
Proceeds from borrowings	26,500	6,000
Repayments of borrowings	(17,251)
Repayments of financed insurance payable	(171)	(220)
Payment of debt issuance costs		(257)
Net cash from financing activities	9,078	5,523
Net change in cash and cash equivalents	(5,012)	1,390
Cash and cash equivalents, beginning of period	6,951	5,934
Cash and cash equivalents, end of period	1,939	7,324
Supplemental cash flow information
Cash paid for interest	249	57
Cash paid for taxes
Non-cash investing and financing activities
Capital expenditures included in accounts payable and accrued expenses	4,332	3,172
Financed insurance		789
Additional asset retirement obligations acquired or incurred	$ 43	$ 88

Note 1 - Description of Busines

Note 1 - Description of Business	3 Months Ended
	Mar. 31, 2019
Notes to Financial Statements
Business Description and Basis of Presentation [Text Block]	NOTE 1 — DESCRIPTION OF BUSINESS Ramaco Resources, Inc. is a Delaware corporation formed in October 2016. Pursuant to the terms of a corporate reorganization (“Reorganization”) that was completed in connection with the closing of our initial public offering (“IPO”) on February 8, 2017,

Note 2 - Summary of Significant

Note 2 - Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2019
Notes to Financial Statements
Significant Accounting Policies [Text Block]	NOTE 2 — SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation not 10 December 31, 2018. In the opinion of management, the accompanying unaudited condensed consolidated financial statements include all adjustments, consisting of normal recurring adjustments, necessary to fairly present the financial position as of, and the results of operations for, all periods presented. In preparing the accompanying financial statements, management has made certain estimates and assumptions that affect reported amounts in the condensed consolidated financial statements and disclosures of contingencies. Actual results may not Revenue Recognition one May 2014, 2014 09, Revenue from Contracts with Customers 2014 09 2014 09, Revenue from Contracts with Customers, January 1, 2018 no For periods subsequent to January 1, 2018, Our coal sales generally include up to 90 not 30 Earnings per Share Financial Instruments We invested excess cash amounts before its planned expenditure for capital projects in highly-rated securities with the primary objective of achieving competitive low risk interest rate return, while minimizing the potential risk of principal loss. Fair values were determined for each individual security based on observable inputs other than quoted prices in active markets for identical assets and liabilities, quoted prices for identical or similar assets or liabilities in inactive markets, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the securities. The difference between the carrying amount and fair value of these securities was not Nonrecurring fair value measurements include asset retirement obligations, the estimated fair value of which is calculated as the present value of estimated cash flows related to its reclamation liabilities using Level 3 Concentrations— three March 31, 2019, three 55% three March 31, 2019 28% three March 31, 2018 three 47% Recent Accounting Pronouncements February 2016, 2016 02, Leases 2016 02, Leases, January 1, 2019. not not $ 0.3 March 31, 2019, not

Note 3 - Property, Plant and Eq

Note 3 - Property, Plant and Equipment	3 Months Ended
	Mar. 31, 2019
Notes to Financial Statements
Property, Plant and Equipment Disclosure [Text Block]	NOTE 3 —PROPERTY, PLANT AND EQUIPMENT The Company’s property, plant and equipment consist of the following: March 31, 2019 December 31, 2018 In thousands Plant and equipment at cost $ 113,564 $ 109,911 Construction in process 16,892 12,066 Capitalized mine development costs 45,784 43,037 Less: Accumulated depreciation and amortization (19,897 ) (15,809 ) Total property, plant and equipment, net $ 156,343 $ 149,205 During the three March 31, 2019, $3.0 $1.1 three March 31, 2018, $2.0 $0.4 Capitalized amounts related to coal reserves at properties where we are not $5.7 March 31, 2019 $5.5 December 31, 2018.

Note 4 - Debt

Note 4 - Debt	3 Months Ended
	Mar. 31, 2019
Notes to Financial Statements
Debt Disclosure [Text Block]	NOTE 4 DEBT Credit Facility On November 2, 2018 $10.0 $30.0 $1.0 not not November 2, 2021. The Revolving Credit Facility interest rate is based on LIBOR + 2.35% 1.75 4.75% 3.75%. 0.5%, 1.0%. may The outstanding principal balance of the Term Loan is required to be repaid in monthly installments of approximately $0.4 March 31, 2019, $8.3 $8.2 December 31, 2018, $9.6 $9.5 March 31, 2019, $10.5 no December 31, 2018. The Credit Facility contains usual and customary representations and warranties and usual and customary affirmative and negative covenants, including but not March 31, 2019,

Note 5 - Equity

Note 5 - Equity	3 Months Ended
	Mar. 31, 2019
Notes to Financial Statements
Members' Equity Notes Disclosure [Text Block]	NOTE 5 — EQUITY As of March 31, 2019, 40,832,890 Stock -Based Compensation We have a stock-based compensation plan under which stock options, restricted stock, performance shares and other stock-based awards may March 31, 2019, 5.2 Total compensation costs recognized for all stock-based compensation was $0.9 $0.6 three March 31, 2019 2018, Share Options – 937,424 two August 31, 2016 $5.34 $2.1 2017 ten March 31, 2019 Restricted Shares— one three may may not $0.9 $0.6 three March 31, 2019 2018, March 31, 2019, $7.1 1.6 The following table summarizes restricted awards outstanding as of March 31, 2019, Shares Weighted Average Grant Date Fair Value Outstanding at December 31, 2018 966,134 $ 6.99 Granted 757,510 5.47 Vested — — Forfeited (7,120 ) 6.05 Outstanding at March 31, 2019 1,716,524 $ 6.32

Note 6 - Commitments and Contin

Note 6 - Commitments and Contingencies	3 Months Ended
	Mar. 31, 2019
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	NOTE 6 — COMMITMENTS AND CONTINGENCIES Surety Bond As of March 31, 2019, $12.9 $12.7 Purchase Commitments We secure the ability to transport coal through rail contracts and export terminals that are sometimes funded through take-or-pay arrangements. As of March 31, 2019, $2.7 March 31, 2020. Litigation From time to time, the Company is subject to various litigation and other claims in the normal course of business. No

Note 7 - Revenues

Note 7 - Revenues	3 Months Ended
	Mar. 31, 2019
Notes to Financial Statements
Revenue from Contract with Customer [Text Block]	NOTE 7 — REVENUE S Our revenues are derived from contracts for the sale of coal which is recognized at the point in time control is transferred to our customer. Generally, domestic sales contracts have terms of about one Three months ended March 31, In thousands 2019 2018 Coal Sales Domestic revenues $ 36,571 $ 23,610 Export revenues 20,889 32,333 Total revenues $ 57,460 $ 55,943 As of March 31, 2019, 2019 1.2 0.3 2019 0.1

Note 8 - Income Taxes

Note 8 - Income Taxes	3 Months Ended
	Mar. 31, 2019
Notes to Financial Statements
Income Tax Disclosure [Text Block]	NOTE 8 — INCOME TAXES Income tax provisions for interim quarterly periods are based on an estimated annual effective income tax rate calculated separately from the effect of significant, infrequent or unusual items related specifically to interim periods. Income tax expense for the three March 31, 2019 $1.4 16.5%. three March 31, 2018 $0.7 12.4%.

Note 9 - Earnings Per Share

Note 9 - Earnings Per Share	3 Months Ended
	Mar. 31, 2019
Notes to Financial Statements
Earnings Per Share [Text Block]	NOTE 9 — EARNINGS PER SHARE The following is the computation of basic and diluted EPS for the three March 31, 2019 2018. Three months ended March 31, In thousands, except per share amounts 2019 2018 Numerator Net income $ 6,883 $ 5,266 Denominator Weighted average shares used to compute basic EPS 40,604 39,905 Dilutive effect of share-based awards 48 237 Weighted average shares used to compute diluted EPS 40,652 40,142 Earnings per share Basic $ 0.17 $ 0.13 Diluted $ 0.17 $ 0.13

Note 10 - Related Party Transac

Note 10 - Related Party Transactions	3 Months Ended
	Mar. 31, 2019
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 $0.4 $2.9 March 31, 2019 December 31, 2018, Accounts Payable On-going Administrative Services Under a Mutual Services Agreement dated December 22, 2017 March 31, 2017, 12 may 12 30 No three March 31, 2019 2018.

Significant Accounting Policies

Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2019
Accounting Policies [Abstract]
Basis of Accounting, Policy [Policy Text Block]	Basis of Presentation not 10 December 31, 2018. In the opinion of management, the accompanying unaudited condensed consolidated financial statements include all adjustments, consisting of normal recurring adjustments, necessary to fairly present the financial position as of, and the results of operations for, all periods presented. In preparing the accompanying financial statements, management has made certain estimates and assumptions that affect reported amounts in the condensed consolidated financial statements and disclosures of contingencies. Actual results may not
Revenue [Policy Text Block]	Revenue Recognition one May 2014, 2014 09, Revenue from Contracts with Customers 2014 09 2014 09, Revenue from Contracts with Customers, January 1, 2018 no For periods subsequent to January 1, 2018, Our coal sales generally include up to 90 not 30
Earnings Per Share, Policy [Policy Text Block]	Earnings per Share
Investment, Policy [Policy Text Block]	Financial Instruments We invested excess cash amounts before its planned expenditure for capital projects in highly-rated securities with the primary objective of achieving competitive low risk interest rate return, while minimizing the potential risk of principal loss. Fair values were determined for each individual security based on observable inputs other than quoted prices in active markets for identical assets and liabilities, quoted prices for identical or similar assets or liabilities in inactive markets, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the securities. The difference between the carrying amount and fair value of these securities was not Nonrecurring fair value measurements include asset retirement obligations, the estimated fair value of which is calculated as the present value of estimated cash flows related to its reclamation liabilities using Level 3
Concentration Risk, Credit Risk, Policy [Policy Text Block]	Concentrations— three March 31, 2019, three 55% three March 31, 2019 28% three March 31, 2018 three 47%
New Accounting Pronouncements, Policy [Policy Text Block]	Recent Accounting Pronouncements February 2016, 2016 02, Leases 2016 02, Leases, January 1, 2019. not not $0.3 March 31, 2019, not

Note 3 - Property, Plant and _2

Note 3 - Property, Plant and Equipment (Tables)	3 Months Ended
	Mar. 31, 2019
Notes Tables
Property, Plant and Equipment [Table Text Block]	March 31, 2019 December 31, 2018 In thousands Plant and equipment at cost $ 113,564 $ 109,911 Construction in process 16,892 12,066 Capitalized mine development costs 45,784 43,037 Less: Accumulated depreciation and amortization (19,897 ) (15,809 ) Total property, plant and equipment, net $ 156,343 $ 149,205

Note 5 - Equity (Tables)

Note 5 - Equity (Tables)	3 Months Ended
	Mar. 31, 2019
Notes Tables
Share-based Payment Arrangement, Restricted Stock and Restricted Stock Unit, Activity [Table Text Block]	Shares Weighted Average Grant Date Fair Value Outstanding at December 31, 2018 966,134 $ 6.99 Granted 757,510 5.47 Vested — — Forfeited (7,120 ) 6.05 Outstanding at March 31, 2019 1,716,524 $ 6.32

Note 7 - Revenues (Tables)

Note 7 - Revenues (Tables)	3 Months Ended
	Mar. 31, 2019
Notes Tables
Disaggregation of Revenue [Table Text Block]	Three months ended March 31, In thousands 2019 2018 Coal Sales Domestic revenues $ 36,571 $ 23,610 Export revenues 20,889 32,333 Total revenues $ 57,460 $ 55,943

Note 9 - Earnings Per Share (Ta

Note 9 - Earnings Per Share (Tables)	3 Months Ended
	Mar. 31, 2019
Notes Tables
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Three months ended March 31, In thousands, except per share amounts 2019 2018 Numerator Net income $ 6,883 $ 5,266 Denominator Weighted average shares used to compute basic EPS 40,604 39,905 Dilutive effect of share-based awards 48 237 Weighted average shares used to compute diluted EPS 40,652 40,142 Earnings per share Basic $ 0.17 $ 0.13 Diluted $ 0.17 $ 0.13

Note 2 - Summary of Significa_2

Note 2 - Summary of Significant Accounting Policies (Details Textual) $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Jan. 01, 2019USD ($)
Accounting Standards Update 2016-02 [Member]
Operating Lease, Liability, Total			$ 0.3
Operating Lease, Right-of-Use Asset			$ 0.3
Customer Concentration Risk [Member] | Revenue Benchmark [Member]
Number of Major Customers	3	3
Concentration Risk, Percentage	55.00%	47.00%
Customer Concentration Risk [Member] | Accounts Receivable [Member]
Number of Major Customers	3
Concentration Risk, Percentage	28.00%

Note 3 - Property, Plant and _3

Note 3 - Property, Plant and Equipment (Details Textual) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2018
Depreciation, Total	$ 3	$ 2
Amortization, Total	1.1	$ 0.4
Coal Properties [Member]
Capitalized Costs Related to Coal Reserves	$ 5.7		$ 5.5

Note 3 - Property, Plant and _4

Note 3 - Property, Plant and Equipment - Schedule of Property, Plant and Equipment (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Less: Accumulated depreciation and amortization	$ (19,897)	$ (15,809)
Total property, plant and equipment, net	156,343	149,205
Plant and Equipment, at Cost [Member]
Property, plant and equipment, gross	113,564	109,911
Construction in Progress [Member]
Property, plant and equipment, gross	16,892	12,066
Mine Development [Member]
Property, plant and equipment, gross	$ 45,784	$ 43,037

Note 4 - Debt (Details Textual)

Note 4 - Debt (Details Textual) - KeyBank National Association [Member] - USD ($) $ in Thousands	Nov. 02, 2018	Mar. 31, 2019	Dec. 31, 2018
Revolving Credit Facility [Member]
Line of Credit Facility, Maximum Borrowing Capacity	$ 30,000
Long-term Line of Credit, Total		$ 10,500	$ 0
Revolving Credit Facility [Member] | London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument, Basis Spread on Variable Rate	2.35%
Revolving Credit Facility [Member] | Base Rate [Member]
Debt Instrument, Basis Spread on Variable Rate	1.75%
Letter of Credit [Member]
Line of Credit Facility, Maximum Borrowing Capacity	$ 1,000
Term Loan [Member]
Debt Instrument, Face Amount	10,000	8,300	9,600
Debt Instrument, Monthly Installment, Amount	$ 400
Long-term Debt, Total		$ 8,200	$ 9,500
Term Loan [Member] | London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument, Basis Spread on Variable Rate	4.75%
Term Loan [Member] | Base Rate [Member]
Debt Instrument, Basis Spread on Variable Rate	3.75%
Term Loan Base Rate [Member] | London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument, Basis Spread on Variable Rate	1.00%
Term Loan Base Rate [Member] | Fed Funds Effective Rate Overnight Index Swap Rate [Member]
Debt Instrument, Basis Spread on Variable Rate	0.50%

Note 5 - Equity (Details Textua

Note 5 - Equity (Details Textual) - USD ($) $ / shares in Units, $ in Millions	Aug. 31, 2016	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2017	Dec. 31, 2018
Common Stock, Shares, Outstanding, Ending Balance		40,832,890			40,082,467
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant		5,200,000
Share-based Payment Arrangement, Expense		$ 0.9	$ 0.6	$ 2.1
Noncash Transaction, Conversion of Common Unit Options, Number of Common Stock Options	937,424
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price, Ending Balance	$ 5.34
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period	10 years
Restricted Stock [Member]
Share-based Payment Arrangement, Expense		0.9	$ 0.6
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total		$ 7.1
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition		1 year 219 days
Restricted Stock [Member] | Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period		1 year
Restricted Stock [Member] | Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period		3 years

Note 5 - Equity - Summary of Re

Note 5 - Equity - Summary of Restricted Awards Activity (Details) - Restricted Stock [Member]	3 Months Ended
	Mar. 31, 2019$ / sharesshares
Outstanding, shares (in shares) | shares	966,134
Outstanding, Weighted average grant date fair value (in dollars per share) | $ / shares	$ 6.99
Granted, shares (in shares) | shares	757,510
Granted, Weighted average grant date fair value (in dollars per share) | $ / shares	$ 5.47
Vested, shares (in shares) | shares
Vested, Weighted average grant date fair value (in dollars per share) | $ / shares
Forfeited, shares (in shares) | shares	(7,120)
Forfeited, Weighted average grant date fair value (in dollars per share) | $ / shares	$ 6.05
Outstanding, shares (in shares) | shares	1,716,524
Outstanding, Weighted average grant date fair value (in dollars per share) | $ / shares	$ 6.32

Note 6 - Commitments and Cont_2

Note 6 - Commitments and Contingencies (Details Textual) $ in Millions	Mar. 31, 2019USD ($)
Asset Retirement Obligation, Ending Balance	$ 12.9
Mine Reclamation and Closing Liability, Noncurrent	12.7
Take-or-pay Purchase Commitments [Member]
Purchase Commitment, Remaining Minimum Amount Committed	$ 2.7

Note 7 - Revenues (Details Text

Note 7 - Revenues (Details Textual) - Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2019-01-01 T in Millions	Mar. 31, 2019T
Fixed Priced Contracts [Member]
Revenue, Remaining Performance Obligation, Mass	1.2
Contracts with Indexed Based Pricing Mechanisms [Member]
Revenue, Remaining Performance Obligation, Mass	0.1

Note 7 - Revenue - Domestic Rev

Note 7 - Revenue - Domestic Revenues an Export Revenues (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Revenues	$ 57,460	$ 55,943
Domestic Coal Revenues [Member]
Revenues	36,571	23,610
Export Coal Revenues [Member]
Revenues	$ 20,889	$ 32,333

Note 8 - Income Taxes (Details

Note 8 - Income Taxes (Details Textual) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Income Tax Expense (Benefit), Total	$ 1,358	$ 743
Effective Income Tax Rate Reconciliation, Percent, Total	16.50%	12.40%

Note 9 - Earnings Per Share - C

Note 9 - Earnings Per Share - Computation of Basic and Diluted Earnings per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Net income	$ 6,883	$ 5,266
Weighted average shares used to compute basic EPS (in shares)	40,604	39,905
Dilutive effect of share-based awards (in shares)	48	237
Weighted average shares used to compute diluted EPS (in shares)	40,652	40,142
Basic (in dollars per share)	$ 0.17	$ 0.13
Diluted (in dollars per share)	$ 0.17	$ 0.13

Note 10 - Related Party Trans_2

Note 10 - Related Party Transactions (Details Textual) - USD ($) $ in Millions	Mar. 31, 2019	Dec. 31, 2018
Ramaco Coal, LLC [Member] | Accounts Payable and Accrued Liabilities [Member] | Mineral Lease and Surface Rights Agreements [Member]
Due to Related Parties, Total	$ 0.4	$ 2.9