Aspire Mining (ASX:AKM) - Great Things Take Time…and That Time Is Now
8 October, 2026 · By Joe Hansen · Long-form
Overview
Aspire Mining (AKM) is developing the Ovoot Coking Coal Project in north-west Mongolia, which will produce a high quality, high value 'fat' coking coal that commands a similar price in China to Australian premium HCC. A revised Technical Report has cut pre-production capex to US$61.2m to first coal sales through a staged, low-capex development strategy, and Aspire is raising US$60m via a Mongolian OTC bond that should fund almost all of it while minimising equity dilution. Construction has commenced, signing of the Ovoot to Murun highway PPP agreement is imminent, and first coal sales are expected in early 2028. GBA Capital initiates research coverage with a call of Buy (High Risk) and a Target Price of A$0.80/share, a ~272% upside to the last traded price of A$0.215.
Report Details
- Category
- Initiation of Coverage
- Published
- 8 October, 2026
- Analyst
- Joe Hansen
- Format
- Long-form
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