Aspire Mining (AKM) H1 2025 earnings summary

Executive summary

• Focused on advancing the Ovoot Coking Coal Project (OCCP) through studies, permits, and approvals, with significant technical and engineering progress made during the period.

• Held 100% interest in the Ovoot project and 90% in the Nuurstei project, both in Mongolia.

• No dividends were paid, recommended, or declared for the period.

Financial highlights

• Reported a net loss of $9,570,530 for the six months ended 30 June 2025, compared to a profit of $2,740,325 for the same period in 2024.

• Loss mainly due to non-cash unrealised foreign exchange losses on intercompany balances.

• Cash and cash equivalents at period end were $8,812,068, up from $4,578,095 at 31 December 2024.

• Investments in bonds decreased to $2,555,803 from $9,206,127 at year-end 2024.

• Working capital was $12,052,528 and net assets $40,276,052 as at 30 June 2025.

Outlook and guidance

• Cash and investments are sufficient for ongoing community relations, approvals, and evaluation activities.

• Additional funding will be required for full OCCP development; these funds are not yet secured.