# EDGAR Filing Document

**Accession Number:** 0001389507
**File Stem:** 0000919574-25-006827
**Filing Date:** 2025-11
**Character Count:** 13363
**Document Hash:** e6fb790c3adb5766f66a28ddc71e1107
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000919574-25-006827.hdr.sgml**: 20251113

**ACCESSION NUMBER**: 0000919574-25-006827

**CONFORMED SUBMISSION TYPE**: SCHEDULE 13G/A

**PUBLIC DOCUMENT COUNT**: 2

**FILED AS OF DATE**: 20251113

**DATE AS OF CHANGE**: 20251113

**SUBJECT COMPANY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Ramaco Resources, Inc.
- **CENTRAL INDEX KEY:** 0001687187
- **STANDARD INDUSTRIAL CLASSIFICATION:** BITUMINOUS COAL & LIGNITE MINING [1220]
- **ORGANIZATION NAME:** 01 Energy & Transportation
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** SCHEDULE 13G/A
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 005-89887
- **FILM NUMBER:** 251480623

**BUSINESS ADDRESS:**
- **STREET 1:** 250 WEST MAIN STREET
- **STREET 2:** SUITE 1800
- **CITY:** LEXINGTON
- **STATE:** KY
- **ZIP:** 40507
- **BUSINESS PHONE:** (859) 244-7455

**MAIL ADDRESS:**
- **STREET 1:** 250 WEST MAIN STREET
- **STREET 2:** SUITE 1800
- **CITY:** LEXINGTON
- **STATE:** KY
- **ZIP:** 40507
**FILED BY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** DISCOVERY CAPITAL MANAGEMENT, LLC / CT
- **CENTRAL INDEX KEY:** 0001389507

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** CT
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** SCHEDULE 13G/A

**BUSINESS ADDRESS:**
- **STREET 1:** 20 MARSHALL STREET
- **STREET 2:** SUITE 310
- **CITY:** SOUTH NORWALK
- **STATE:** CT
- **ZIP:** 06854
- **BUSINESS PHONE:** 203-956-7953

**MAIL ADDRESS:**
- **STREET 1:** 20 MARSHALL STREET
- **STREET 2:** SUITE 310
- **CITY:** SOUTH NORWALK
- **STATE:** CT
- **ZIP:** 06854

## Ex-99

<u>Exhibit A</u>

<u>JOINT FILING AGREEMENT</u>

The undersigned agree that this Schedule 13G amendment dated November 13, 2025 relating to the Class A Common Stock, $0.01 par value, of Ramaco Resources, Inc. shall be filed on behalf of the undersigned.

---

| |
|:---|
| &nbsp;&nbsp; DISCOVERY CAPITAL MANAGEMENT, LLC<br>By: /s/ Robert K. Citrone |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Name: Robert K. Citrone |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Title: Principal |

---

&nbsp;&nbsp; ROBERT K. CITRONE<br>By: /s/ Robert K. Citrone<br>

---

| |
|:---|
| &nbsp;&nbsp; DISCOVERY GLOBAL OPPORTUNITY MASTER FUND, LTD.<br>By: /s/ Robert K. Citrone |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Name: Robert K. Citrone |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Title: Director |

---

### UNITED STATES SECURITIES AND EXCHANGE COMMISSION
**Washington, D.C. 20549**

## SCHEDULE 13G

### Under the Securities Exchange Act of 1934

**(Amendment No. 1)**

**Issuer:** Ramaco Resources, Inc.

**Title of Class of Securities:** Class A Common Stock, $0.01 par value

**CUSIP Number:** 75134P600

**Date of Event Which Requires Filing of this Statement:** 09/30/2025

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

- [ ] Rule 13d-1(b)

- [x] Rule 13d-1(c)

- [ ] Rule 13d-1(d)

---

| 1. | Names of Reporting Persons<br>Discovery Capital Management, LLC | Names of Reporting Persons<br>Discovery Capital Management, LLC |
|:---|:---|:---|:---|
| 2. | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [ ] | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [ ] |
| 3. | SEC Use Only | SEC Use Only |
| 4. | Citizenship or Place of Organization<br>CT | Citizenship or Place of Organization<br>CT |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 5. | Sole Voting Power<br>0.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 6. | Shared Voting Power<br>5452360.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 7. | Sole Dispositive Power<br>0.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 8. | Shared Dispositive Power<br>5452360.00 |
| 9. | Aggregate Amount Beneficially Owned by Each Reporting Person<br>5452360.00 | Aggregate Amount Beneficially Owned by Each Reporting Person<br>5452360.00 |
| 10. | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] |
| 11. | Percent of Class Represented by Amount in Row (9)<br>9.9% | Percent of Class Represented by Amount in Row (9)<br>9.9% |
| 12. | Type of Reporting Person (See Instructions)<br>IA | Type of Reporting Person (See Instructions)<br>IA |

---

| 1. | Names of Reporting Persons<br>Robert K. Citrone | Names of Reporting Persons<br>Robert K. Citrone |
|:---|:---|:---|:---|
| 2. | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [ ] | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [ ] |
| 3. | SEC Use Only | SEC Use Only |
| 4. | Citizenship or Place of Organization<br>X1 | Citizenship or Place of Organization<br>X1 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 5. | Sole Voting Power<br>0.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 6. | Shared Voting Power<br>5452360.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 7. | Sole Dispositive Power<br>0.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 8. | Shared Dispositive Power<br>5452360.00 |
| 9. | Aggregate Amount Beneficially Owned by Each Reporting Person<br>5452360.00 | Aggregate Amount Beneficially Owned by Each Reporting Person<br>5452360.00 |
| 10. | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] |
| 11. | Percent of Class Represented by Amount in Row (9)<br>9.9% | Percent of Class Represented by Amount in Row (9)<br>9.9% |
| 12. | Type of Reporting Person (See Instructions)<br>HC, IN | Type of Reporting Person (See Instructions)<br>HC, IN |

---

| 1. | Names of Reporting Persons<br>Discovery Global Opportunity Master Fund, Ltd. | Names of Reporting Persons<br>Discovery Global Opportunity Master Fund, Ltd. |
|:---|:---|:---|:---|
| 2. | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [ ] | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [ ] |
| 3. | SEC Use Only | SEC Use Only |
| 4. | Citizenship or Place of Organization<br>E9 | Citizenship or Place of Organization<br>E9 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 5. | Sole Voting Power<br>0.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 6. | Shared Voting Power<br>5080054.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 7. | Sole Dispositive Power<br>0.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 8. | Shared Dispositive Power<br>5080054.00 |
| 9. | Aggregate Amount Beneficially Owned by Each Reporting Person<br>5080054.00 | Aggregate Amount Beneficially Owned by Each Reporting Person<br>5080054.00 |
| 10. | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] |
| 11. | Percent of Class Represented by Amount in Row (9)<br>9.2% | Percent of Class Represented by Amount in Row (9)<br>9.2% |
| 12. | Type of Reporting Person (See Instructions)<br>CO | Type of Reporting Person (See Instructions)<br>CO |

---

**Item 1(a). Name of Issuer:**
Ramaco Resources, Inc.

**Item 1(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.

**Item 2(b). Address of Principal Business Office:**
Discovery Capital Management, LLC
20 Marshall Street, Suite 310
South Norwalk, CT 06854
United States of America

Robert K. Citronec/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

**Item 2(c). Citizenship:**
Discovery Capital Management, LLC - Connecticut
Robert K. Citrone - United States
Discovery Global Opportunity Master Fund, Ltd. - Cayman Islands

**Item 2(d). Title of Class of Securities:**
Class A Common Stock, $0.01 par value

**Item 2(e). CUSIP Number:**
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 - 5,452,360
Robert K. Citrone - 5,452,360
Discovery Global Opportunity Master Fund, Ltd. - 5,080,054

**(b) Percent of class:**

Discovery Capital Management, LLC - 9.9%
Robert K. Citrone - 9.9%
Discovery Global Opportunity Master Fund, Ltd. - 9.2%

**(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 - 5,452,360
Robert K. Citrone - 5,452,360
Discovery Global Opportunity Master Fund, Ltd. - 5,080,054

**(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 - 5,452,360
Robert K. Citrone - 5,452,360
Discovery Global Opportunity Master Fund, Ltd. - 5,080,054

**Item 5. Ownership of Five Percent or Less of a Class.**

[x] If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following.

**Item 6. Ownership of More than 5 Percent on Behalf of Another Person.**

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 Class A Common Stock, $0.01 par value.

**Item 7. Identification and Classification of the Subsidiary**

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. Certification:**

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**

**Date:** 11/13/2025

**By:** By: /s/ Robert K. Citrone

**Name & Title:** Robert K. Citrone / Principal

**Robert K. Citrone**

**Date:** 11/13/2025

**By:** By: /s/ Robert K. Citrone

**Name & Title:** Robert K. Citrone

**Discovery Global Opportunity Master Fund, Ltd.**

**Date:** 11/13/2025

**By:** By: /s/ Robert K. Citrone

**Name & Title:** Robert K. Citrone / Director