Ramaco signs non-binding MOU with REalloys for rare earth supply chain partnership

The company disclosed entering a non-binding memorandum of understanding with REalloys, Inc. on May 28, 2026. The 8-K does not provide details of the MOU's terms, purpose, or business rationale; those details are contained in the attached press release (Exhibit 99.1), which is not included in this filing body. Non-binding MOUs typically represent preliminary discussions or framework agreements that may or may not lead to definitive transactions.

Ramaco entered a non-binding memorandum of understanding with REalloys to establish a strategic relationship for a future offtake agreement. The MOU contemplates Ramaco supplying Mixed Rare Earth Carbonate from its Wyoming exploratory project to REalloys for separation into rare earth oxides, and Ramaco supplying scandium oxide from its Brook Mine refinery for metallization at REalloys' Ohio facility. This represents a potential commercial pathway for Ramaco's rare earth exploration project, though the agreement is non-binding and subject to due diligence.

The MOU outlines a two-part supply arrangement: Ramaco would provide Mixed Rare Earth Carbonate from Wyoming for REalloys to separate at its Saskatchewan facility, and Ramaco would supply scandium oxide from Brook Mine for metallization at REalloys' Ohio facility. This structure positions Ramaco as a feedstock supplier in the rare earth value chain rather than performing all processing steps internally.

The filing emphasizes that the Brook Mine rare earth project remains at exploration stage with no assurance of successful commercial development. The company explicitly states that inferred mineral resources may not be converted to higher confidence resources or reserves. This disclosure underscores the early-stage, high-risk nature of the rare earth initiative underlying the REalloys MOU.