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 and gold, indicating a positive operational performance compared to previous periods [3][6][11]. 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 sold in 2024 [6]. - The product mix for 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 HCC, SSCC, and MASHCC making up 59%, 6%, and 35% of total sales respectively [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 [10]. - 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 [11]. - The processing plant at Bayan Khundii has a capacity of 650,000 tonnes per annum and employs various methods for gold and silver extraction [12]. - During the quarter ended December 31, 2025, the Group conducted geological exploration and metallurgical testing for the White Hill mine development [13].

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Core Viewpoint - Mongolian Mining Corporation reported a significant decrease in coal production and sales for the quarter ended June 30, 2025, while also providing updates on its gold mining operations, particularly the commissioning of the Bayan Khundii gold mine [2][5][12]. Group 1: Coking Coal Operations - The Group is the largest producer and exporter of washed coking coal products in Mongolia, operating the Ukhaa Khudag and Baruun Naran coking coal mines [4][3]. - The combined output of run-of-mine (ROM) coal from UHG and BN mines was 3,428.4 thousand tonnes, reflecting a 7% quarter-on-quarter (QoQ) and 28% year-on-year (YoY) decrease [5]. - A total of 3,605.7 thousand tonnes of ROM coking coal was processed, resulting in 2,178.1 thousand tonnes of washed coking coal products, which is a 3% QoQ increase but a 2% YoY decrease [6][10]. - The total sales of washed coking coal products were 1,739.7 thousand tonnes, showing a 9% QoQ increase but a 25% YoY decrease [7][10]. Group 2: Gold and Metals Operations - The Group holds a 50% equity stake in Erdene Mongol LLC, which is developing the Bayan Khundii gold mine [11]. - The commissioning of the BKH gold mine processing plant and related facilities was conducted, with commercial production expected to start in the third quarter of 2025 [12].