# Silver Elephant Leases Ulaan Ovoo Coal Mine in Mongolia to Major Mining and Industrial Conglomerate Canonical Atlas analysis: https://atlas-extractions.minestarters.com/news/silver-elephant-leases-ulaan-ovoo-coal-mine-in-mongolia-to-major-mining-and-indu--f430cd4c-bd42-4fb4-b44b-7476679b6a0a Original source: https://money.tmx.com/en/quote/ELEF/news/8009737854146231/silver-elephant-leases-ulaan-ovoo-coal-mine-in-mongolia-to-major-mining-and-indu Publisher: tmx Original announcement: 2026-07-06T13:29:00.000Z Analysis by Minestarters Atlas Atlas analysis published: Unknown date Atlas analysis updated: Unknown date - Company: Silver Elephant Mining Corp. - Ticker: ELEF - Exchange: TSX - Region: Mongolia - Primary commodity: Coal - Secondary commodities: None reported - Document categories: Resource update, Agreement transaction - Extracted: 2026-09-19 18:38:23 UTC Narrative sentiment: 0.60 · Bullish ## Minestarters Atlas summary Silver Elephant Mining Corp. has signed a lease agreement for its Ulaan Ovoo coal mine in Mongolia with a major local conglomerate. Under the terms, the company will receive a royalty of US$2 per tonne for the first two years, increasing to US$3 per tonne from 2028, alongside an immediate US$300,000 advance payment. Reasoning: The company has successfully transitioned the Ulaan Ovoo asset into a royalty-generating stream via a lease agreement, providing immediate cash and long-term production-linked revenue. - Positive factor: Execution of lease agreement with a major conglomerate - Positive factor: Immediate US$300,000 non-refundable advance royalty fee - Positive factor: Ongoing royalty stream of US$2-3 per tonne - Positive factor: Expected annual production of 300kt to 1Mt - Negative factor: Company is not operating the mine directly, but acting as a royalty holder - Negative factor: Underlying royalty to Oracle Commodity Holding Corp. exists Facts used in scoring: 3 ## Classification and evidence **agreement\_transaction** Polarity: positive Story-specific tag Definition: No canonical definition is currently available. Why it applies: The primary focus is the execution of a lease agreement for the Ulaan Ovoo coal mine. Evidence · text > has executed a lease agreement \(the "Lease"\) with an arms-length major Mongolian mining and industrial conglomerate **resource\_update** Polarity: neutral Story-specific tag Definition: No canonical definition is currently available. Why it applies: The document discloses historical resource estimates for the Ulaan Ovoo project. Evidence · text > contains an estimated 174 Mt of Measured Coal Resources and 34 Mt of Indicated Coal Resources ## Extracted facts Stored fact records: 2. Some facts used in scoring do not have a stored record. ## Resource Estimates (2) ### measured [Link to this fact](https://atlas-extractions.minestarters.com/news/silver-elephant-leases-ulaan-ovoo-coal-mine-in-mongolia-to-major-mining-and-indu--f430cd4c-bd42-4fb4-b44b-7476679b6a0a#fact-resource-facts-1) Ulaan Ovoo · coal #### Identity - Project: Ulaan Ovoo - Commodity: coal - Region: mongolia - Reported Region: Mongolia - Ticker: ELEF #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - Resource group id: resource:75edd959f6d45275a260 #### Resource Data - Category: measured - Tonnes: 174000000 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-07-06T00:00:00.000Z Reasoning: These are historical figures from a 2010 study and do not represent new geological findings. - Positive factor: Significant measured resource base Evidence · text > contains an estimated 174 Mt of Measured Coal Resources #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/silver-elephant-leases-ulaan-ovoo-coal-mine-in-mongolia-to-major-mining-and-indu--f430cd4c-bd42-4fb4-b44b-7476679b6a0a#fact-resource-facts-2) Ulaan Ovoo · coal #### Identity - Project: Ulaan Ovoo - Commodity: coal - Region: mongolia - Reported Region: Mongolia - Ticker: ELEF #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - Resource group id: resource:6e698ae80caa1e4178d4 #### Resource Data - Category: indicated - Tonnes: 34000000 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-07-06T00:00:00.000Z Reasoning: Historical resource estimate from 2010. Evidence · text > and 34 Mt of Indicated Coal Resources #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports ## How Atlas produces this analysis Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.