Mongolian Mining Corporation Operational Update for the Quarter Ended 30 September 2025

Core Viewpoint - Mongolian Mining Corporation has released its operational update for the third quarter of 2025, highlighting significant increases in coking coal sales and the commencement of gold production at its Bayan Khundii mine [3][6][12]. Coking Coal Operations - The Group sold 2,303.2 thousand tonnes of washed coking coal in Q3 2025, marking a 32% increase quarter-on-quarter and a 13% increase year-on-year [6]. - The run-of-mine coal output from UHG and BN mines was 3,604.3 thousand tonnes, reflecting a 5% increase from the previous quarter but a 16% decrease compared to the same period last year [6]. - The total processed run-of-mine coking coal was 3,753.8 thousand tonnes, with a 3% decrease from Q2 2025 but a 9% increase from Q3 2024 [6]. - Key operational data for Q3 2025 includes: - ROM coal mined: 3,604.3 kt (QoQ +5%, YoY -16%) - ROM coking coal processed: 3,753.8 kt (QoQ +4%, YoY +3%) - Washed coking coal produced: 2,103.0 kt (QoQ -3%, YoY +9%) - Washed coking coal sold: 2,303.2 kt (QoQ +32%, YoY +13%) [8]. Gold and Metals Operations - The Group holds a 50% equity stake in Erdene Mongol LLC, which operates the Bayan Khundii gold mine [9]. - Commercial gold production at the BKH mine commenced on September 14, 2025, with 342 ounces of gold and 96 ounces of silver sold during Q3 2025 at average prices of 3,805.18 USD/oz for gold and 44.15 USD/oz for silver [12][13]. - The BKH mine is expected to reach its nameplate production capacity in Q4 2025, with an annual processing capacity of 650,000 tonnes of ore and projected gold production of approximately 85,000 ounces per year [14].