[CLSTR]
< Back to situation

[REVISION HISTORY]

Almonty Industries transitions to producer; approves buyback

Updated 9 times since CLSTR started tracking revisions of this situation.

What changed

2026-09-03 05:06 UTC → 2026-09-09 20:34 UTC · added removed

Almonty Industries has transitioned from a mining developer to a producer following the commencement of active operations at its Sangdong mine in South Korea in mid-2026. This operational milestone is bolstered by significant long-term supply contracts, including an expanded 21-year agreement with Global Tungsten & Powders that increases committed delivery volumes by 40%. Following the start of operations, Almonty reported a massive surge in financial performance; second-quarter revenue rose 498% year-over-year to 43 million Canadian dollars. While the company reported a net profit of 181.8 million Canadian dollars, approximately 173.1 million Canadian dollars of that figure was attributed to non-cash revaluation gains from derivatives and warrants. This growth is supported Investor interest has been further driven by a surge share buyback program announced in global tungsten prices; for instance, mid-August. The program authorizes the average European price for Ammonium Paratungstate (APT) rose repurchase of up to $3,075 per MTU in Q2 2026, compared 14.4 million common shares, valued at approximately $300 million, through August 2029. CEO Lewis Black stated the move is intended to $453 per MTU in Q2 2025. To consolidate liquidity, reflect the company’s “true value,” noting that Almonty is restructuring its market presence. The company controls one of the largest tungsten deposits outside of China. Following the start of operations, Almonty completed its withdrawal from the Toronto Stock Exchange on 31 July 2026 and has now completed its delisting delisted from the Australian Securities Exchange (ASX), citing low and declining trading volumes. (ASX). The company expects to maintain maintains primary listings on the Nasdaq and Frankfurt Stock Exchange. Financially, Almonty has fully repaid its project loan from KfW IPEX-Bank, eliminating construction debt for the first stage of the mine. Liquidity has been strengthened by an oversubscribed 800 million US dollar convertible bond offering, leaving cash reserves of 1.23 billion Canadian dollars as of June 30, 2026. The company plans to expand the mine's capacity from 640,000 tons of ore per year in Phase 1 to 1.2 million tons in Phase 2. In early September 2026, Almonty's stock Almonty’s NASDAQ shares experienced volatility and a correction rally of approximately 12.68% after 8.8 percent in a monthly rally single session, contributing to a year-to-date increase of over 40%. 117 percent. Analysts from Jefferies have issued a ‘Buy’ rating with a price target of $26.25, citing the importance of Phase-I production.

Versions

  1. 2026-09-09 20:34 UTC Almonty Industries transitions to producer; approves buyback
  2. 2026-09-03 05:06 UTC Almonty Industries transitions to producer; approves buyback
  3. 2026-09-02 06:24 UTC Almonty Industries transitions to producer; approves buyback
  4. 2026-08-21 04:39 UTC Almonty Industries transitions to producer; approves buyback
  5. 2026-08-20 17:55 UTC Almonty Industries transitions to producer; approves buyback
  6. 2026-08-14 14:42 UTC Metal producers thrive; Almonty consolidates listings
  7. 2026-08-09 02:11 UTC Metal producers thrive; Almonty consolidates listings
  8. 2026-08-01 19:13 UTC Metal producers thrive; Almonty consolidates listings
  9. 2026-07-27 05:26 UTC Metal producers benefit from high commodity prices
  10. 2026-07-25 23:55 UTC Metal producers benefit from high commodity prices

Only revisions since CLSTR began indexing content versions appear here. Select a version to see what changed compared to the one before it.