YANCOAL AUS (03668) has released its third quarter report for the period ending September 30, 2025. Despite rainfall affecting operations this quarter, the total raw coal production met the company's projections. The total marketable coal production reached 12.3 million tons (100% basis), remaining flat compared to the previous quarter. As anticipated, rights sales exceeded rights production this quarter, compensating for the revenues lost due to shipping delays from weather-related issues in the second quarter. The overall coal sales price for the third quarter of 2025 was AUD 140 per ton, with thermal coal sales prices remaining stable, while metallurgical coal sales prices declined by 1% quarter-on-quarter. These sales prices reflect the lagging effects of coal price indices, currency fluctuations, and the structure of sales contracts. The operational guidance for 2025 remains unchanged: rights marketable coal production is expected to be between 35 million and 39 million tons—with production currently above the midpoint of this range—and total annual production could reach the upper end of the range. Cash operating costs are anticipated to be between AUD 89 and AUD 97 per ton—averaging AUD 93 per ton in the first half of 2025, with expectations of staying around the midpoint for the full year. Rights capital expenditure is projected at AUD 750 million to AUD 900 million, progressing smoothly and expected to remain within guidance.