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.
News for Almonty Industries Inc. (ALMTF) centers on its role as a global producer of tungsten concentrate and its efforts to build out a portfolio of tungsten-focused mining assets in conflict-free regions. Company announcements highlight ongoing mining, processing and shipping of tungsten concentrate from the Panasqueira Mine in Portugal, construction progress at the Sangdong tungsten mine in Gangwon Province, South Korea, and development work at projects in Spain, including the Valtreixal tin/tungsten project and the Los Santos Mine.
Investors following Almonty’s news can track updates on its Sangdong Mine, which the company describes as historically one of the largest tungsten mines in the world and one of the few long-life, high-grade tungsten deposits outside of China. Recent releases include the filing of an updated NI 43‑101 technical report for Sangdong, details on phased mine development plans, and commentary on how the project fits into global tungsten supply outside China.
Almonty’s news flow also covers capital markets and corporate actions, such as its application to list on the Nasdaq Capital Market under the ticker ALM, the pricing of a U.S. underwritten public offering, and a share consolidation approved by shareholders. The company has reported inclusion in the S&P/TSX Global Mining Index and has provided detailed information on amendments to the currency of exercise prices for warrants and CDI options to address accounting treatment.
Other notable news items involve strategic and legal developments, including U.S. Congressional recognition of Almonty’s role in the U.S. critical minerals supply chain, the appointment of a U.S. national security and defense logistics specialist to its board, and the commencement of legal proceedings against Pure Tungsten Inc. Over time, this news page provides a centralized view of Almonty’s operational milestones, regulatory filings referenced in press releases, governance decisions, and its positioning within defense and advanced technology supply chains.
Almonty Industries Inc. (OTCQX: ALMTF) has secured firm commitments from Australian institutional investors to raise A$3.5 million through the issuance of 4,861,111 Chess Depository Interests (CDIs) at A$0.72 each. Participants will receive one free unlisted option per CDI issued, exercisable at A$1.25 until December 31, 2024. Funds will be used for debt repayment, working capital, and offering costs. Additionally, the company settled US$2.46 million owed to Plansee Holdings AG by issuing 4,501,840 common shares at an average price of $0.73, a 6% premium. The transaction awaits regulatory approval.
Almonty Industries Inc. plans to extend the expiry date of 700,000 outstanding warrants from February 19, 2023, to February 19, 2024. The warrants were originally issued during a private placement from December 2019 to February 2020. Of the total warrants, 1,020,000 have expired, and 327,244 have been exercised, with 47,244 recently exercised by CEO Lewis Black. The extension requires approval from the Toronto Stock Exchange and shareholders. The warrant amendment may be considered a related party transaction, and exemptions under MI 61-101 will be sought, as the number of warrants amended will not exceed 25% of the company’s market capitalization.
Almonty Industries Inc. (OTCQX: ALMTF) has secured commitments to raise A$2.0 million through the issuance of 2.5 million Chess Depository Interests (CDIs) at A$0.80 each, primarily from existing Australian institutional investors. Each CDI purchase includes one free unlisted option, exercisable at A$1.25 until 31 December 2024. This placement is priced at an 11.1% discount to the last closing price of A$0.90 on 20 January 2023. Proceeds will be allocated towards general working capital and offering costs, pending necessary regulatory approvals.
Almonty Industries Inc. has successfully completed a
Almonty Industries Inc. announced progress on its Sangdong Downstream Extension Project, aimed at constructing a nano tungsten oxide processing plant in South Korea. The project, which will support the local battery manufacturing industry, is expected to be funded by KfW IPEX-Bank, with a LOI for up to US$50 million. Almonty is collaborating with IAF Holding GmbH for the facility's design and has selected the Seok Moon Industrial Complex for its infrastructure advantages. The project represents a strategic step towards enhancing tungsten production and meeting growing demand in electric vehicle applications.
Almonty Industries Inc. reports on the successful management of torrential rainfall at its Sangdong Tungsten Mine in South Korea, which endured over 220mm of rain without damage to any infrastructure. The operational update highlights reaching a significant milestone in mine development with the connection to the -1 Level hanging wall gallery, encompassing 55% of their reserves. Additionally, Almonty secured a second drawdown of US$4.1 million from KfW-IBEX Bank, bringing total financing received to US$16.9 million.
Almonty Industries Inc. reported its financial results for Q2 2022, revealing gross revenue of $7,037,000, up from $5,603,000 in Q2 2021. Despite improvements in revenue, the net loss for the period totaled $2,356,000, slightly better than the previous year's loss of $2,660,000. The company recorded income from mining operations of $870,000 compared to $198,000 in the same quarter last year. Cash flow from operations was positive at $1,022,000, yet cash used in investing activities increased to $3,838,000.
As of June 30, 2022, Almonty had cash reserves of $1,801,000 and total assets of $166,867,000.
Almonty Industries has announced the first drawdown of US$12,818,081 from a US$75.1 million project financing loan facility with KfW-IBEX Bank. This funding is aimed at accelerating work at the Sangdong Mine in South Korea, which is critical for Western tungsten supply. CEO Lewis Black emphasized the significance of this milestone for growth and dominance in the tungsten sector. Additionally, Almonty is advancing plans for the Almonty Korea Moly project to cater to the growing domestic demands in South Korea.
Almonty Industries announces a maiden Independent Inferred Molybdenum Mineral Resource Estimate of 21.48Mt at 0.26% MoS2 at the Almonty Korea Moly Project. This resource is located adjacent to the Sangdong Tungsten Mine, currently under construction in South Korea. The project presents potential for increased shareholder value due to synergies with the tungsten mine. The company plans to investigate integration into the existing mining infrastructure, enhancing both projects' operational efficiencies.
Almonty Industries Inc. held its Annual and Special Meeting of Shareholders on June 30, 2022. A total of 97,480,494 common shares were represented, accounting for 45.66% of the issued shares. The meeting resulted in the election of six directors, all receiving over 99% approval. Additionally, the shareholders re-appointed Zeifmans LLP as auditors, approved unallocated options until June 30, 2025, and passed amendments to the Company’s By-Laws as outlined in the Management Information Circular.
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