PCK

How $AABB’s costs compare to its production, straight from the reports These numbers come from two AABB reports: the amended Q2 2026 quarterly report (quarter ended June 30, 2026) and the 2025 annual report (year ended December 31, 2025). Page numbers below are the “Page X of 28” labels printed on each page. The main source in each report is the Statements of Operations, which is page 12 in both. The method is simple. I took the first line under REVENUES (“Mineral Production” in the Q2 report, “Mineral Production Sales” in the annual report), which I’m calling gross production, and divided each line below it by that number. Q2 2026 (April to June). Gross production: $8.71M Cost of Mining Production: $1.44M, which is 16.5% of production Operating expenses (all the expense lines added up): $0.93M, which is 10.6% Mineral Production Retained: $5.00M, which is 57.4%. This is the company’s own line. It’s deducted from revenue on the income statement (page 12) and credited to equity in the Statement of Stockholders’ Equity (page 21). What’s left as net income: about $1.35M, which is 15.5% First half of 2026 (January to June). Gross production: $14.98M Cost of mining: $2.47M, 16.5% Operating expenses: $1.84M, 12.3% Mineral Production Retained: $9.00M, 60.1% What’s left as net income: $1.66M, 11.1% Reported net income (page 12) was $1,352,728 for Q2 and $1,713,788 for the half. The small gap from “what’s left” is $51K of fee income in the first half ($6K in Q2), shown on page 12, which I left out of the percentages. Now the comparison. Mining cost and operating expenses together took: 27.1¢ of each $1 of production in Q2 2026 28.8¢ in the first half of 2026 43.1¢ in all of 2025 47.4¢ in the first half of 2025 The 2025 numbers. For the first half of 2025 (the same page 12 table in the Q2 report): gross production was $5.19M, mining cost was $0.91M and operating expenses were $1.55M. For all of 2025 (annual report, page 12): gross production was $12.72M, mining cost was $2.27M (17.8%), operating expenses were $3.21M (25.2%) and Mineral Production Retained was $6.00M (47.2%). That leaves $1.24M, or 9.8%, which is the statement’s Net Income from Operations. Reported net income was $5.70M for the first half of 2025 and $8.05M for the full year, but both include other items on page 12 that aren’t part of operations. They include a $12.6M gain on sale of property and equipment and a $7.6M loss on debt settlement, plus $1.84M of investment interest income in the full year. So for “what’s left” I used the operations line to keep it like-for-like. Why costs take a smaller slice now. Costs grew along with production, just more slowly. From the first half of 2025 to the first half of 2026, gross production nearly tripled, from $5.19M to $14.98M. Mining cost plus operating expenses rose about 76%, from $2.46M to $4.32M. So each dollar of production now carries fewer cents of cost. Another way to see it: in six months of 2026, gross production of $14.98M was already above the $12.72M for all of 2025. Mining cost plus operating expenses for those six months were $4.32M, against $5.48M for the full year. A few more details from the same reports. On the income statements (page 12): director fees are $60K a quarter, the same as a year earlier, and $240K in both 2024 and 2025. The “Executive management fees” line shows a dash (zero). About half of operating expenses is depreciation. On the balance sheet (Q2 report, page 11): gold and silver bullion rose $9.0M in the first half of 2026, from $39.5M to $48.5M. Company-reported numbers. The reports are on OTC Markets if you want to check any line.

$AABB is trading at $0.0089. The balance sheet in the Q2 report works out to about $0.0370 a share. I took the reported equity of $171.5M and divided it by the 4.638B shares outstanding. The price is about 24% of that book value. The company’s cash alone, $45.3M, is about $0.0098 a share. That’s more than the stock costs today. The rest of the balance sheet: – Gold and silver bullion: $48.5M – Mineral properties, plant and IP: $55.4M – Investments, digital and other: $22.7M – Total liabilities: $0.3M These are company-reported numbers for June 30, and book value isn’t a market price. The bullion is carried at cost, and the plant and IP are at the company’s own values. But when I look at a stock where the cash alone is worth more than the share price, it makes you do a double take. Not advice, just my read of the filing.

Set a reminder for the upcoming $AABB Space! teapawt.net/i/spaces/1DGLdZVwYZRGm

$AABB just release Q2 numbers, quick glance looks like they retained another $5 million in #Gold holdings! otcmarkets.com/file/company/…

Well well well….. $AABB lots of cash still even after acquisitions! Assets keep growing!