Mongolian Mining Corporation Operational Update for the Quarter Ended 31 December 2025

Core Viewpoint - Mongolian Mining Corporation has released its operational update for the quarter ended December 31, 2025, highlighting significant increases in production and sales of coking coal, as well as initial gold and silver sales from its new gold mine [3][6][12]. Coking Coal Operations - The Group is the largest producer and exporter of washed coking coal in Mongolia, with operations primarily at the Ukhaa Khudag and Baruun Naran mines [4][5]. - In 2025, the Group sold 8,221.3 thousand tonnes of washed coking coal, a 4% increase from 7,882.1 thousand tonnes in 2024 [6]. - The product mix for washed coking coal in 2025 included 4,920.5 thousand tonnes of hard coking coal (HCC), 452.5 thousand tonnes of semi-soft coking coal (SSCC), and 2,848.4 thousand tonnes of mid-ash semi-hard coking coal (MASHCC), with respective contributions of 59%, 6%, and 35% to total sales [7]. - Key operational data for the quarter ended December 31, 2025, showed a 10% increase in ROM coal mined to 3,963.6 thousand tonnes, a 3% increase in processed ROM coking coal to 3,858.6 thousand tonnes, a 12% increase in washed coking coal produced to 2,350.7 thousand tonnes, and a 12% increase in washed coking coal sold to 2,578.1 thousand tonnes compared to the previous quarter [9]. Gold and Metals Operations - The Group holds a 50% equity stake in Erdene Mongol LLC, which operates the Bayan Khundii gold mine, and a 50.5% stake in Universal Copper LLC, which is developing the White Hill copper-silver-gold mine [11]. - In 2025, the Group sold 7,434 ounces of gold and 2,634 ounces of silver from the Bayan Khundii mine, with average prices of 4,153.25 USD/oz for gold and 53.14 USD/oz for silver [12]. - The processing plant at Bayan Khundii has a nameplate capacity of 650,000 tonnes per annum and employs various methods for gold and silver extraction [13]. - During the quarter ended December 31, 2025, the Group conducted geological exploration and metallurgical testing for the White Hill mine development [14].