Almonty Industries Faces Twin Headwinds: A Major Shareholder Exits and Two Exchanges Prepare to Say Goodbye
Published on 07/25/2026 at 06:02 | Redaktion boerse-global.de
The tungsten producer Almonty Industries is navigating a pivotal week on multiple fronts. The company is finalizing its exit from the Toronto Stock Exchange on July 31, a move that follows the Australian Securities Exchange granting delisting approval on July 23. At the same time, a prominent German institutional investor has cashed in a portion of its stake, pocketing a substantial profit and adding a layer of complexity to the stock’s recent narrative.
A Strategic Pivot Toward Nasdaq
Almonty’s retreat from the ASX and the upcoming voluntary withdrawal from the TSX are part of a deliberate strategy to concentrate all trading activity on the Nasdaq, where the company already lists under the ticker ALM. The ASX greenlight was widely expected, given that Almonty had previously signaled its intention to streamline its exchange presence. The TSX exit, effective July 31, will leave the Nasdaq as the sole venue for the company’s shares.
In the lead-up to the Australian delisting, Almonty made routine adjustments to its capital structure. On July 24, the company cancelled 66,667 unlisted options that had expired on July 20, with an exercise price of C$1.215. Separately, it issued 62,518 common shares under a cleansing statement, which allows those shares to be resold without additional disclosure under Australian law.
Deutsche Rohstoff Books a Windfall
Adding to the week’s drama, Deutsche Rohstoff AG, a long-standing anchor shareholder, sold five million Almonty shares at roughly US$16 apiece. The transaction generated a pre-tax profit of approximately €65 million, according to the German firm. After the sale, Deutsche Rohstoff still holds 5.5 million Almonty shares.
Should investors sell immediately? Or is it worth buying Almonty?
The timing of the sale, coinciding with the delisting announcements, has fueled short-term uncertainty. Market participants often read such moves in two ways: as validation of a multiyear investment thesis that has paid off handsomely, but also as a potential harbinger of further selling pressure if other early investors follow suit. Deutsche Rohstoff used the proceeds to bolster its own outlook, lifting its 2026 EBITDA forecast from €290–310 million to roughly €365 million, while leaving its revenue guidance unchanged at €260–280 million.
Price Action Reflects Nervousness
The stock closed at C$19.91 on Friday, down 1.04% on the day but still up 3.43% for the week. That level sits roughly 40.30% below the 52-week high reached in April, a correction that looks stark in isolation but less so against the broader trajectory. Over the past twelve months, Almonty has surged 229.64%, and year-to-date gains stand at nearly 65%.
The recent pullback follows a month-long slide of roughly 15%, driven by a combination of factors: the TSX exit announcement, the reminder of a net loss of US$34.6 million in the first quarter of 2025, and the Deutsche Rohstoff sale. The stock now trades near its 200-day moving average of C$19.12, a level that has historically acted as a equilibrium point. However, it sits below both its 50-day and 100-day averages, and the relative strength index of 42 signals neutral-to-cooled sentiment.
Almonty at a turning point? This analysis reveals what investors need to know now.
Sangdong Production Adds a Counterpoint
The exchange exits coincide with a significant operational milestone. Almonty recently started processing ore at its flagship Sangdong tungsten mine in South Korea, marking the company’s transition from developer to producer. The ramp-up is backed by an expanded offtake agreement with Global Tungsten & Powders, which increases the contracted annual revenue volume.
For investors tracking the story, the near-term focus will be on two dates: the formal cessation of trading on the ASX and TSX, and the continued progress of Sangdong’s first production phase. Some analysts maintain a price target of C$27.80, implying meaningful upside from current levels, provided the listing consolidation proceeds smoothly and the operational story delivers on its promise.
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