Thu, Jan 30, 9:57 PM (18 days ago)
Natural Resource Partners L.P. (NRP) filed an amended Form 10-K for the fiscal year ended December 31, 2023, to address SEC comments regarding mineral property disclosures related to Sisecam Wyoming LLC. The amendment includes updates to business operations, risk factors, and a Technical Report Summary. In FY 2023, NRP reported total revenues of $370,009,000, with $296,612,000 (80%) from Mineral Rights and $73,397,000 (20%) from Soda Ash. Net income and earnings per share figures were not provided in the summary. The company faces significant risks, including fluctuating coal and soda ash prices, reliance on a small number of lessees, and environmental regulations impacting operations. The financial condition remains affected by $155.5 million in debt, which imposes restrictions on cash distributions. The future outlook is uncertain, particularly regarding Sisecam Wyoming's production rates as deca stockpiles deplete by 2024. Overall, while NRP has a substantial mineral portfolio, its financial performance is closely tied to market conditions and regulatory changes.