Mongolian Mining Sees $100M-110M H1 Profit After $19.9M Loss

Those figures remain unaudited. The board said they come from a preliminary review of the group's consolidated management accounts for the six months to June 30 and from information currently available. The interim results are still being finalized, and neither the independent external auditors nor the audit committee has reviewed or confirmed the figures. They may still change.

Washed coking coal is cleaned of ash and impurities before being converted into coke for blast-furnace steelmaking. Mongolian Mining, listed in Hong Kong since 2010, runs the Ukhaa Khudag open-pit mine in the Tavan Tolgoi deposit of Mongolia's South Gobi as its main operation; Chinese steelmakers are the primary buyers of its output. The gold operation gives the group a second commodity line alongside coal.

The board advised shareholders and potential investors to exercise caution when dealing in the company's shares. Further details of the group's first-half performance are due in the interim results announcement, which the company plans to publish in August.