Almonty Industries Faces a Pivotal Week: Production Starts, a Major Shareholder Cashes Out, and a Trading Halt Looms
Published on 07/23/2026 at 06:03 | Redaktion boerse-global.de
Almonty Industries has entered a defining chapter in its corporate history, with a flurry of developments that collectively paint a picture of a company in rapid transition. The tungsten producer’s Sangdong mine in South Korea began processing ore on July 1, 2026, marking its shift from a development-stage venture to an active revenue generator. Yet the same week has brought a trading halt on the Australian Securities Exchange, a significant share sale by its largest German shareholder, and a planned delisting from the Toronto Stock Exchange — a combination that leaves investors weighing operational progress against corporate maneuvering.
Sangdong Goes Live as a 21-Year Offtake Deal Locks in Revenue
The most consequential operational news is that Almonty has started feeding ore through its processing plant at Sangdong. The facility is currently working through an initial stockpile of roughly 139,700 tonnes of run-of-mine ore, which at prevailing tungsten prices carries a gross value of approximately $68 million. This initial phase is designed to fine-tune the flotation circuits and ensure consistent concentrate quality before the mine reaches its full Phase I capacity.
The production milestone coincides with the renegotiation and expansion of a long-term offtake agreement with Global Tungsten & Powders (GTP), a subsidiary of the Plansee Group. The new contract runs for 21 years and covers roughly 90% of Phase I output. Crucially, the pricing formula has been reworked to deliver an average 6.3% increase in realized sales prices. Analysts at Sphene Capital estimate this will generate at least $30 million in additional annual revenue, translating to approximately $630 million over the contract’s full life. Sphene responded by lifting its price target on Almonty to C$38.90 from C$37.40.
A Major Shareholder Trims Its Stake
Against this backdrop of operational progress, the Deutsche Rohstoff AG announced on July 22 that it had sold 5 million Almonty shares at roughly $16 apiece, contributing about €65 million to its bottom line. The sale prompted the German resource group to raise its full-year EBITDA guidance to between €355 million and €375 million, up from a prior range of €290 million to €310 million. Deutsche Rohstoff retains 5.5 million Almonty shares after the transaction.
Should investors sell immediately? Or is it worth buying Almonty?
The sale signals that one of Almonty’s most significant backers is willing to lock in profits at current valuation levels, even as the company enters a new operational phase. The move also provides Deutsche Rohstoff with fresh capital to deploy elsewhere, while its remaining stake ensures it remains a meaningful shareholder.
Trading Halt and TSX Exit Add Uncertainty
Adding to the week’s complexity, Almonty’s shares were suspended from trading on the ASX on July 23 ahead of a scheduled market update. The company did not disclose the content of the update in advance. It marks the second time in 2026 that trading has been halted on the exchange, following a previous suspension tied to the release of annual financial results.
Separately, Almonty has announced it will voluntarily delist from the Toronto Stock Exchange effective July 31. The company cited the migration of the bulk of its daily trading volume to the Nasdaq Capital Market, where it trades under the ticker ALM. The move is expected to reduce regulatory and compliance costs by consolidating trading activity on a single primary exchange.
Almonty at a turning point? This analysis reveals what investors need to know now.
Stock Volatility Reflects the Crosscurrents
The market’s reaction to the news flow has been mixed. Almonty shares closed at C$20.64 on Wednesday, down 2.41% from the prior session. The stock remains 8.13% above its 200-day moving average of C$19.09, suggesting the longer-term trend is still intact. However, it sits 38.11% below its 52-week high of C$33.35, reached on April 17, reflecting a significant pullback from its peak. Over the past 12 months, the stock has still gained roughly 237%, and it is up 71% year-to-date. The annualized volatility of 87.63% underscores the sharp swings that have characterized trading in Almonty shares.
For investors, the competing narratives are hard to ignore. The Sangdong mine is finally generating revenue, and a renegotiated offtake deal provides multi-decade visibility on pricing. Yet the simultaneous trading halt, the insider share sale, and the TSX delisting inject a degree of caution into the story. Whether the operational momentum can overcome the corporate noise will likely become clearer once Almonty releases its next quarterly results and the market update that prompted the ASX suspension.
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