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  "documentTitle": "Alpha Metallurgical Resources, Inc. (AMR)",
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  "authorName": "Spruce Point Capital Management",
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      "text": "In both the 10-K and investor presentation, AMR references 16.2 – 16.3 million tons of coal produced in 2021. However, the next slide will show that an independent evaluation references 15.6 million tons.",
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      "text": "coal production: 16.3 million tons",
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      "text": "The coal industry is highly competitive... we produced approximately 13.8 million tons... we produced approximately 2.5 million tons...",
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      "text": "13.8 (Met) + 2.5 (Thermal) = 16.3 million tons",
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      "text": "13.7 (Met) + (2.5) Thermal = 16.2 million tons",
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      "text": "Source: March 2022 Investor Presentation",
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      "text": "Source: 2021 10-K, p. 12",
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      "text": "2021 Production Numbers Not Adding Up",
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