Hydrate ancho in a bowl of hot water. Set aside for 30 mins.

Toast mushroom, cumin, cinnamon and peppercorns in a skillet until aromatic. Transfer into a spice grinder and blitz until powder forms. Set aside until ready to use.

In the same skillet over medium heat, add sesame oil. Once the oil is heated up, add in the bacon. Sear the bacon until crispy browned on both sides. Remove from heat and coarsely slice them into bite-size strips. Transfer the bacon into a blender.

In the same skillet, add onion, season with salt and sugar. Saute until lightly caramelized. Add in garlic. Saute until aromatic. Remove from heat and transfer into the blender.

Add in the vinegar, coffee, sugar, maple syrup, and rum. Pulse it a few times until well combined and the bacon is in fine pieces, but not a paste.

Return the mixture back into the same skillet over low heat. Bring it up to a simmer and add in the liquid smoke. Give it a quick mix and simmer for about 30 mins or until the liquid has almost evaporated. Stir occasionally to prevent burning. The consistency should be sticky and syrupy.

Taste and adjust for seasoning with salt and pepper. Give it a final stir. Remove from heat and set aside to cool down completely. Transfer into a sterilized jar. It can keep in the fridge for up to 1 month.