Discovery-affiliated Fund Discloses 6.2% Stake in Ramaco (METCL)

Rhea-AI Filing Summary

Ramaco Resources Schedule 13G: Discovery Capital Management, LLC, Robert K. Citrone and Discovery Global Opportunity Master Fund, Ltd. report beneficial ownership of Class A common stock of Ramaco Resources, Inc. Discovery Capital and Mr. Citrone each report 3,431,545 shares, and Discovery Global Opportunity Master Fund reports 3,429,964 shares, each representing approximately 6.2% of the class.

All reported shares are shown with shared voting and shared dispositive power; none of the reporting persons claim sole voting or sole dispositive power. The filing states the securities are directly owned by advisory clients of Discovery Capital Management, LLC and includes the standard disclaimer that reported ownership is limited to pecuniary interest.

Positive

• Reporting persons beneficially own approximately 3.43 million shares of Ramaco Class A common stock, representing about 6.2% of the class.
• The reported shares are directly owned by advisory clients of Discovery Capital Management, LLC, clarifying the ownership structure and who holds economic interest.

Negative

• None.

Insights

Financial Analyst

Passive >5% stake disclosed; material ownership concentration but filed as passive.

The Schedule 13G shows an investment adviser and affiliated fund together reporting roughly 3.43 million shares (~6.2%) of Ramaco Class A stock with shared voting and dispositive power. This is a material passive holding disclosure that increases investor visibility into ownership concentration. The filing includes the certification that the securities were not acquired to influence control, consistent with a passive Schedule 13G filing. Impactful: yes (material stake disclosed) but routine in form.

Corporate Governance Expert

Shared power, no sole control; passive ownership limits immediate governance influence.

Reported positions show 0 sole voting or dispositive power and shared control over the reported shares, which suggests no single reporting person asserts unilateral governance authority. The disclosure that shares are held by advisory clients and the included disclaimer limit assertions of beneficial ownership to pecuniary interest. For governance, the stake is material in size but the filing presents it as passive.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

Ramaco Resources, Inc.

(Name of Issuer)

Class A Common Stock, $0.01 par value

(Title of Class of Securities)

75134P600

(CUSIP Number)

08/06/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. 75134P600

1

Names of Reporting Persons

Discovery Capital Management, LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

CONNECTICUT

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 3,431,545.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 3,431,545.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

3,431,545.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

6.2 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

CUSIP No. 75134P600

1

Names of Reporting Persons

Robert K. Citrone

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 3,431,545.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 3,431,545.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

3,431,545.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

6.2 %

12

Type of Reporting Person (See Instructions)

HC, IN

SCHEDULE 13G

CUSIP No. 75134P600

1

Names of Reporting Persons

Discovery Global Opportunity Master Fund, Ltd.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

CAYMAN ISLANDS

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 3,429,964.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 3,429,964.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

3,429,964.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

6.2 %

12

Type of Reporting Person (See Instructions)

CO

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Ramaco Resources, Inc.
(b)	Address of issuer's principal executive offices: 250 West Main Street, Suite 1900, Lexington, Kentucky 40507
Item 2.
(a)	Name of person filing: Discovery Capital Management, LLC Robert K. Citrone Discovery Global Opportunity Master Fund, Ltd.
(b)	Address or principal business office or, if none, residence: Discovery Capital Management, LLC 20 Marshall Street, Suite 310 South Norwalk, CT 06854 United States of America Robert K. Citrone c/o Discovery Capital Management, LLC 20 Marshall Street, Suite 310 South Norwalk, CT 06854 United States of America Discovery Global Opportunity Master Fund, Ltd. c/o Discovery Capital Management, LLC 20 Marshall Street, Suite 310 South Norwalk, CT 06854 United States of America
(c)	Citizenship: Discovery Capital Management, LLC - Connecticut Robert K. Citrone - United States Discovery Global Opportunity Master Fund, Ltd. - Cayman Islands
(d)	Title of class of securities: Class A Common Stock, $0.01 par value
(e)	CUSIP No.: 75134P600
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: Discovery Capital Management, LLC -3,431,545 Robert K. Citrone - 3,431,545 Discovery Global Opportunity Master Fund, Ltd. - 3,429,964
(b)	Percent of class: Discovery Capital Management, LLC - 6.2% Robert K. Citrone - 6.2% Discovery Global Opportunity Master Fund, Ltd. - 6.2%
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: Discovery Capital Management, LLC - 0 Robert K. Citrone - 0 Discovery Global Opportunity Master Fund, Ltd. - 0
	(ii) Shared power to vote or to direct the vote: Discovery Capital Management, LLC - 3,431,545 Robert K. Citrone - 3,431,545 Discovery Global Opportunity Master Fund, Ltd. - 3,429,964
	(iii) Sole power to dispose or to direct the disposition of: Discovery Capital Management, LLC - 0 Robert K. Citrone - 0 Discovery Global Opportunity Master Fund, Ltd. - 0
	(iv) Shared power to dispose or to direct the disposition of: Discovery Capital Management, LLC - 3,431,545 Robert K. Citrone - 3,431,545 Discovery Global Opportunity Master Fund, Ltd. - 3,429,964
Item 5.	Ownership of 5 Percent or Less of a Class.
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required. All of the securities reported in this Schedule 13G are directly owned by advisory clients of Discovery Capital Management, LLC. None of those advisory clients, other than Discovery Global Opportunity Master Fund, Ltd., may be deemed to beneficially own more than 5% of the Common Stock, $0.01 par value.
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Discovery Capital Management, LLC

Signature:	/s/ Robert K. Citrone
Name/Title:	Robert K. Citrone/Principal
Date:	08/13/2025

Robert K. Citrone

Signature:	/s/ Robert K. Citrone
Name/Title:	Robert K. Citrone
Date:	08/13/2025

Discovery Global Opportunity Master Fund, Ltd.

Signature:	/s/ Robert K. Citrone
Name/Title:	Robert K. Citrone/Director
Date:	08/13/2025

Comments accompanying signature: * Each Reporting Person disclaims beneficial ownership of the reported securities except to the extent of his, her or its pecuniary interest therein, and this report shall not be deemed an admission that such Reporting Person is the beneficial owner of the securities for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, or for any other purpose. To the extent that "ownership of 5 percent or less of a class" was indicated in Item 5, such response only applies to the Reporting Person(s) that indicated elsewhere herein that it beneficially owns five percent (5%) or less of the class.

Exhibit Information

Exhibit A - Joint Filing Agreement

FAQ

Who filed the Schedule 13G for Ramaco Resources (METCL)?

Discovery Capital Management, LLC; Robert K. Citrone; and Discovery Global Opportunity Master Fund, Ltd.

How many Ramaco shares do the reporting persons report owning?

Discovery Capital Management and Robert K. Citrone each report 3,431,545 shares; Discovery Global Opportunity Master Fund reports 3,429,964 shares.

What percentage of Ramaco's Class A common stock is represented by the reported holdings?

Approximately 6.2% of the Class A common stock is reported for each reporting person.

Do the reporting persons have sole voting or dispositive power over the reported shares?

No. The filing reports 0 sole voting power and 0 sole dispositive power, and lists shared voting and shared dispositive power for the reported shares.

Were the securities acquired to influence control of the issuer?

The filing includes a certification that, to the best of the reporting persons' knowledge, the securities were not acquired and are not held for the purpose of changing or influencing control of the issuer.