What have been the most significant updates from Asian Battery Metals over the last 18 months?

Currently, our Khukh Tag and Tsagaan Ders projects are under review. Over the last year, the Oval nickel project has established itself as our flagship; it is where we have focused most of our efforts and resources. This is because at the end of 2024 we discovered a mass of sulfide at the Oval intrusive project, proving the commercial value of the project with very rich mineral components. 

Since the first drill hole, we have intercepted massive sulfides in 7 drill holes in four locations, with two zones close to being connected. This is quite an exciting development. We have drilled deeper recently, confirming the mineralization extends to 193 m below the surface, which is a good indication that the system has the potential to extend at depth. Currently, we are conducting the first electromagnetic surveys on the property, hoping to discover similar targets and prioritize the correct areas of the land. 

Are there any particular exploration technologies you have found work well in Mongolia?

We have mostly concentrated on porphyry copper and coal, which rely on larger regional geophysics work to help define resources. The type of mineralization we are now dealing with requires more focused results and thus different types of electromagnetic surveying and interpretation of this data. For example, we used a software called Profus to interpret the downhole electromagnetic survey from Canada. This is a new way to bring this data to life. 

What is the permitting process like in Mongolia, and how can it be improved?

In the last 20 years, the permitting process across the world has changed dramatically, with a greater focus placed on all the various stakeholders involved in a mining project. Mongolia is no different in this. I see the country as a mature mining jurisdiction, and over the last 15 years, we have implemented all the laws required for the full mining life cycle. The system has been tested and proven over time, showcased by the number of new mining projects coming online in this period. Of course, there are complications along the way, but in my opinion, it is manageable if you are proactive. 

What is your financing strategy, and what is investor sentiment like towards juniors in Mongolia?

Over the last few years, there is no doubt that capital market sentiment toward juniors has not been the easiest. However, over the last 12 months, we have conducted two capital raises, demonstrating the resilience of our company and the quality of our assets. We will continue to work with this strategy. Working in Mongolia is more cost-efficient than in other jurisdictions, meaning we can accomplish more for every dollar we raise. Asian Battery Metals is also very agile when conducting our exploration, which has reduced our overall administrative costs. 

Mongolia has been off the radar of international investors for a while now, even though the country has matured. This has led to less capital entering the country from capital markets. I believe the country is underestimated on a global scale, particularly in the context of the energy transition. We have great geological potential, as showcased by Oyu Tolgoi being one of the only major copper projects coming into full production in the last 10 years. 

 Where should the attention of the new government be focused to improve the mining industry?

Globally, when commodity prices rise, states often look to raise rents and royalties on mining operations. I believe that in order to make Mongolia competitive on the world stage, the government should look to adopt a counter-cyclical approach, meaning that when commodity prices rise, we look for a larger market share rather than higher state revenue. This would entail a sophisticated and well-thought-out royalty scheme and also long-term stable support of policy. 

What are your plans for Asian Battery Metals for the next year?

Our strategic goal for our upcoming exploration is to show the full potential of the mineral system at the Oval project. We have shown that we have a high-grade system, but we now need to address the quantity of the resource. Once this is defined, we hope that in 2026 we will move toward resource drilling and potentially a scoping study.