Following these transactions, Courtis retains ownership of 603,342 shares in the company. The sales were executed in multiple transactions, with prices reflecting a weighted average within the specified range.

In other recent news, Alpha Metallurgical Resources announced significant changes in leadership and shared its third-quarter earnings for 2024. The company revealed that chairman David Stetson is set to retire, with Michael Gorzynski, currently the lead independent director, slated to take over the role. This leadership transition coincides with a reduction in board size from seven to six members.

Despite facing market challenges and operational difficulties, Alpha Metallurgical reported an adjusted EBITDA of $49 million and shipped 4.1 million tons of coal. In response to these challenges, the company plans to focus on operational efficiency and maintain a robust balance sheet for the upcoming year.

The company also shared its plans for the future, including a forecasted shipment of 16.7 million tons of coal in 2025, a decrease from the previous year’s guidance. Alpha Metallurgical has also decided to reduce production shifts and idle the Checkmate Powellton mine. However, the company’s total liquidity has increased by 42% to $507 million, allowing for continued investment in projects such as the Kingston Wildcat Mine.

Alpha Metallurgical’s share buyback program continues, with approximately $400 million remaining for repurchases. The Kingston Wildcat Mine is expected to produce up to 1 million tons annually at full capacity starting in late 2025. These recent developments underscore the company’s strategic focus on cost management and efficiency in the face of softening market conditions.

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