Almonty Industri - ALMTF STOCK NEWS

Almonty Industries (TSX: AII / ASX: AII / OTCQX: ALMTF) has secured final commitments for an A$18.45 million equity placement. The placement consists of 4.53 million Canadian units and 15.41 million CDI Units, priced at C$0.82 and A$0.90 per unit respectively.

Each participant will receive one warrant per common share and one free unlisted option per CDI, exercisable at C$1.14 and A$1.25 respectively, with a three-year expiry from closing. The funds will be used for balance sheet restructuring and offer costs. Settlement is expected by February 4, 2025, subject to TSX and ASX regulatory approvals.

RM Corporate Finance Pty , serving as Lead Manager, will receive a 6% fee on funds raised through their efforts.

Almonty Industries has signed an exclusive offtake agreement with SeAH M&S, South Korea's largest molybdenum processor, for 100% of the production from its Sangdong Molybdenum Project for the entire life of mine. The project, expected to begin production by end of 2026, has a projected 60-year mine life and will produce approximately 5,600 tons of molybdenum annually at full capacity.

The agreement includes a floor price of US$19.00/Lb (before treatment charges), providing financial stability for the project. Currently, molybdenum trades at approximately US$22/Lb. SeAH, which is building a US$110 million metals facility in Texas to supply SpaceX and the U.S. aerospace sector, will use the production to strengthen South Korea's domestic supply chain and reduce dependence on Chinese imports.

The Sangdong Molybdenum Project is located approximately 150 meters from Almonty's Tungsten Project, allowing for operational synergies and cost efficiencies. The project is fully permitted for mining and environmental requirements.

Almonty Industries (TSX: AII / ASX: AII / OTCQX: ALMTF) has announced plans to change its incorporation from Canada to Delaware, USA, while maintaining its current stock exchange listings. The decision reflects the growing strategic importance of the United States and comes amid significant changes in global critical materials regulations.

The move is driven by new Department of Defense restrictions starting January 2027, which will prohibit sourcing of critical materials like tungsten from countries including China, Russia, Iran, and North Korea. Additionally, recent Chinese export restrictions on dual-use technologies and US tariff increases on Chinese imports have disrupted global supply chains.

The company's Sangdong Mine is positioned to become a major Western source of tungsten, with 45% of its potential long-term output already committed to the US through an agreement with Global Tungsten & Powders in Pennsylvania. Production is expected to begin by mid-2025. The US domestication plan, unanimously approved by the board, is expected to complete in Q1 2025, subject to regulatory and shareholder approvals.

Almonty Industries (TSX: AII / ASX: AII / OTCQX: ALMTF) has received its final drawdown of US$906,000 from the US$75.1 million KfW IPEX-Bank project loan facility for the construction of its Sangdong Tungsten Mine in South Korea. This milestone represents the completion of the loan drawdown process and demonstrates KfW's continued support for Almonty's vision to become a leading global tungsten producer.

The bank has supported every drawdown request since the project financing approval, contributing to the development of a reliable tungsten source for the Western world. CEO Lewis Black emphasized the importance of KfW's partnership and expressed commitment to timely loan repayment.

Almonty Industries (TSX: AII / ASX: AII / OTCQX: ALMTF) has secured additional commitments for its equity placement, increasing the total to A$15.45 million. The placement involves issuing 4.53 million Canadian units and 12.08 million Placement Chess Depository Interests (CDI) Units at C$0.82 and A$0.90 per unit, respectively.

Each participant will receive one warrant per common share and one free unlisted option per CDI, exercisable at C$1.14 and A$1.25, respectively, with a three-year expiry from closing. The settlement is expected around January 20, 2025, subject to TSX and ASX regulatory approvals. The proceeds will be used for balance sheet restructuring and offer costs. RM Corporate Finance, acting as Lead Manager, will receive a 6% fee on funds raised.

Almonty Industries (TSX: AII / ASX: AII / OTCQX: ALMTF) has secured firm commitments to raise A$5.95 million through a combined offering of 2.0 million Canadian units at C$0.82 per unit and 4.56 million Placement Chess Depository Interests (CDIs) Units at A$0.90 per CDI Unit. Each participant will receive one warrant per common share and one free unlisted option per CDI, exercisable at C$1.14 and A$1.25 respectively, with a three-year expiry. The funds will be used for balance sheet restructuring and offer costs. Settlement is expected around December 30, 2024, subject to TSX and ASX approval. RM Corporate Finance will manage the placement for a fee of A$85,500.

Almonty Industries has achieved a significant milestone in developing its Sangdong tungsten mine with the installation of Metso 's grinding equipment. The project features state-of-the-art semi-autogenous grinding (SAG) mill and ball mill installations, important for efficient tungsten ore processing. Metso will manage all installation aspects, maintaining precise tolerances of 0.008 mm/m. The Sangdong project aims to diversify global tungsten supply, currently dominated by China's 80% market control, and represents one of the largest high-grade tungsten deposits worldwide.

Almonty Industries announces that Yeongwol County, home to its Sangdong Mine, has been designated as one of six Opportunity Development Special Zones in Gangwon Province, South Korea. This designation by the Ministry of Trade, Industry, and Energy (MOTIE) includes tax benefits, subsidies, and infrastructure improvements to support critical minerals development.

The region is developing a 153,750-square-meter industrial complex in Nokjeon-ri, with Almonty securing 60,000 square meters for its tungsten oxide plant, located 35 kilometers from the Sangdong Mine. The project aims to supply over 10% of global tungsten consumption and meet 100% of South Korea's domestic demand for this critical mineral used in batteries and semiconductors.

Almonty Industries has appointed Fernando Vitorino as Chief Operating Officer of Almonty Korea Tungsten Corp (AKTC). Vitorino brings over 30 years of mine management and 40 years of financial management experience, having previously held key positions at Anglo Group and Beralt Tin and Wolfram. The construction of the processing plant at Sangdong Mine has reached 53.23% completion in approximately 90 days. The company aims to begin tungsten concentrate production by mid-2025 and plans to construct a tungsten oxide plant by late 2026. The Sangdong Mine is expected to supply over 10% of global tungsten consumption and meet 100% of South Korea's domestic demand.