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Almonty Industri - ALMTF STOCK NEWS

Welcome to our dedicated page for Almonty Industri news (Ticker: ALMTF), a resource for investors and traders seeking the latest updates and insights on Almonty Industri stock.

Almonty Industri (ALMTF) operates at the forefront of tungsten mining and specialty metals processing, delivering integrated solutions from extraction to global commodity markets. This dedicated news hub provides stakeholders with direct access to verified corporate developments and operational updates.

Investors and industry observers will find essential information including quarterly earnings reports, production milestones, and strategic partnership announcements. Our curated feed consolidates official press releases and market-moving updates, enabling efficient tracking of the company's progress in critical mineral supply chains.

The resource features updates across key operational areas: mine development timelines, processing technology enhancements, and global trading activities. Content is rigorously verified to ensure accuracy, providing reliable insights into the company's position within the industrial metals sector.

Bookmark this page for streamlined access to Almonty Industri's latest developments. Combine these updates with fundamental analysis tools available through your brokerage platform for comprehensive investment research.

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Almonty Industries has announced a letter of intent with KfW IPEX-Bank for US$50 million to fund its Sangdong Downstream Extension Project, aimed at supplying the South Korean battery anode manufacturing industry. This project is expected to enhance the company’s growth potential in the tungsten market, particularly in South Korea, which is a significant consumer of tungsten. The company is also investigating the construction of a nano tungsten oxide processing plant, enhancing its vertical integration and meeting rising demand for semiconductors and batteries.

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Almonty Industries Inc. has signed a memorandum of understanding with Korean Mine Rehabilitation and Resource Corporation (KOMIR) and Hannae For T, Ltd to enhance South Korea's rare metal supply chain. This collaboration focuses on recycling Tungsten and Molybdenum to produce essential products for the semiconductor and battery industries. The MOU emphasizes the importance of securing rare metal supplies, particularly Tungsten, which is predominantly produced in China. The agreement will be effective for two years and can be extended or terminated by mutual consent.

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Almonty Industries has secured commitments from institutional investors to raise A$1.5 million by issuing 1.5 million Chess Depository Interests (CDIs) priced at A$1.00 each. This financing aims to cover various fees associated with the drawdown of a KfW loan amounting to US$75.1 million, essential for the construction of the Sangdong Tungsten Mine. The transaction is expected to finalize on February 28, 2022, pending regulatory approvals. The lead manager for this placement is Lazarus Corporate Finance, which will receive a 6% fee from the raised amount.

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Almonty Industries Inc. has received a completion letter regarding a US$75.1 million loan facility from KfW, satisfying all 110 conditions precedent. This funding is crucial for the construction of the Sangdong tungsten mine in South Korea, which is already 15% complete and ahead of schedule. The loan features low interest rates of 2-3%, which will support Almonty's growth amid rising tungsten prices, now at US$338 per MTU, up 45% in the past year. The company anticipates commissioning in Q4 2022.

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Almonty Industries Inc. has finalized a second tranche of its non-brokered private placement, raising approximately CDN$3,914,000 in unsecured convertible debentures. These debentures mature on October 31, 2024 and offer a 5% annual interest rate, convertible into common shares at CDN$1.05 per share. The funds will be utilized for general working capital and financing of the Sangdong Mine in South Korea. All issued securities are subject to resale restrictions until March 23, 2023.

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Almonty Industries Inc. reported its unaudited interim financials for the three and nine months ended September 30, 2021. Gross revenue for Q3 was CAD 5,333,000, a slight increase from CAD 5,128,000 in Q3 2020. However, net loss for the period was CAD 5,062,000, compared to a loss of CAD 2,091,000 year-over-year. The company’s cash position decreased to CAD 1,834,000 from CAD 2,372,000. Almonty emphasized progressing its Sangdong project, with significant investments and governmental support for Tungsten supply diversification in South Korea.

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Almonty Industries Inc. has made significant progress at its South Korean site, achieving 25% completion of the underground mine development. The company has invested nearly US$17m into the project and aims to complete it by Q4 2022. The workforce has expanded to over 50, with plans to increase to 125 as construction accelerates. The price of tungsten has risen by over 50% in the last year, driven by demand from the technology sector. Almonty is finalizing US$75.1m in project financing and is optimistic about its future operations.

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Almonty Industries Inc. provides a progress update on its tungsten mining activities, highlighting the Sangdong Tungsten Mine in South Korea, which is on schedule and budget. Key developments include a 17.5% completion of underground work and successful shotcrete operations with low rebound rates. Over US$14m has been invested, representing 13.8% of total costs. The price of tungsten has risen to US$315/MTU, with projections exceeding US$350/MTU. The company aims for 80% renewable energy use at its Panasqueira site in Portugal.

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Almonty Industries Inc. has appointed Mark Goodman to its Board of Directors, effective immediately. Goodman, an experienced business figure and founder of Stone Gold, Inc., has previously held leadership positions at multiple companies. His expertise is expected to bolster Almonty's strategic direction, particularly regarding the ongoing construction of the Sangdong tungsten project in Korea. This addition to the board may enhance shareholder confidence as Almonty continues to develop its mining operations in Spain and Portugal.

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Almonty Industries reported its unaudited financial results for the six months ending June 30, 2021. The company recorded a net loss of $2.66 million, compared to a profit of $0.25 million during the same period last year. Gross revenue decreased to $5.60 million, down from $6.99 million. Despite this, production at the Sangdong tungsten mine is advancing, with a 54% increase in tungsten prices to $315 per MTU. Almonty aims to leverage its unique position in the tungsten market to meet the growing demand.

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FAQ

What is the current stock price of Almonty Industri (ALMTF)?

The current stock price of Almonty Industri (ALMTF) is $1.75 as of April 28, 2025.

What is the market cap of Almonty Industri (ALMTF)?

The market cap of Almonty Industri (ALMTF) is approximately 442.4M.
Almonty Industri

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ALMTF Stock Data

442.37M
125.39M
35.97%
0.07%
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