The Brook Mine Mirage: Investors Allege Ramaco Struck Hype Instead of Coal

Ramaco told investors it was striking gold. A bold pivot into rare earth minerals. A brand-new mine. America’s first in decades.

In July 2025, Ramaco cut the ribbon on its Brook Mine in Wyoming. Executives said mining had already begun. Tons were coming out of the ground. The future looked huge.

But according to a lawsuit, that story wasn’t real.

From July through September, Ramaco kept telling investors the mine was active. In mid-September, the CEO even claimed multiple drilling rigs were operating on site.

Then, on October 23, a short seller dropped drone footage. No mining. No equipment. No activity. Just a staged opening and an empty pit.

The stock fell about 10% in a single day. Confidence collapsed. Now, investors say they were misled about the mine’s progress and are taking action. More shareholders are joining the lawsuit.