Almonty Industries delists from ASX amid Sangdong mine production ramp-up

Almonty Industries has completed its delisting from the Australian Securities Exchange (ASX), consolidating its primary listings on the Nasdaq and the Toronto Stock Exchange. The company cited low and declining trading volumes on the ASX as the reason for the move.

The strategic shift follows significant operational progress at the Sangdong mine in South Korea. The facility's processing plant became operational in June, allowing the company to begin processing ore stockpiles. This development has contributed to a massive surge in financial performance; second-quarter revenue rose 498% year-over-year to 43.0 million Canadian dollars.

While the company reported a net profit of 181.8 million Canadian dollars, much of this figure—approximately 173.1 million Canadian dollars—was attributed to non-cash revaluation gains from derivatives and warrants. Despite this, the company's liquidity position has strengthened significantly following an oversubscribed 800 million US dollar convertible bond offering, bringing liquid assets to 1.23 billion Canadian dollars as of June 30, 2026.