MONGOL MINING Shares Surge Over 11% on Expected First-Half Profit Turnaround with Net Income Exceeding $100 Million

Stock News10:56

MONGOL MINING (00975) shares jumped more than 11% in Hong Kong trading, rising 11.01% to HK$8.27 as of press time, with turnover reaching HK$49.1848 million.

The mining company released a statement after Tuesday's market close, forecasting a consolidated net profit of approximately $100 million to $110 million for the first half of 2026. This marks a significant turnaround from the consolidated net loss of $19.9 million reported for the same period in 2025.

The anticipated profit is primarily attributed to higher washed coking coal sales volumes and improved average selling prices, which boosted the group's revenue compared to the first half of 2025. Additionally, the commencement of gold mine production and other net income contributed to the positive outlook.

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