Almonty Industries: Sangdong’s Long-Term Contract Offers Ballast as Exchange Exits and Share Sales Rattle the Stock
Published on 07/25/2026 at 18:22 | Redaktion boerse-global.de
Almonty Industries is navigating a period of significant transition, with the tungsten producer’s stock coming under pressure from multiple directions even as its flagship South Korean project secures a landmark offtake deal that stretches deep into the 2040s.
The shares closed at C$18.81 on Friday, down 5.52% on the session, a move that pushed the stock below its 200-day moving average of C$19.15. Technical analysts often interpret a breach of this level as a cautionary signal for the longer-term trend. Over the past month, the decline has deepened to 19.58%, and the stock now sits 43.60% below the record high of C$33.35 hit in mid-April.
Yet the recent weakness looks less stark when measured against the broader rally that preceded it. Almonty’s equity has still gained 55.84% since the start of the year, and the long-term trajectory remains well above where it traded twelve months ago.
Exchange Consolidation Accelerates
The price retreat coincides with a fundamental reshaping of Almonty’s stock market footprint. The company received formal approval from the Australian Securities Exchange on July 23 to delist, with the process set to conclude by September 1, 2026. Trading in the associated CHESS Depositary Interests will be suspended from August 28.
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That follows Almonty’s voluntary decision to withdraw from the Toronto Stock Exchange by July 31. The rationale for both moves is straightforward: the vast majority of daily trading volume has migrated to the Nasdaq, making the dual listings increasingly redundant. By concentrating its listing on Nasdaq and the Frankfurt Stock Exchange, Almonty aims to reduce administrative and compliance costs.
The company has also relocated its corporate headquarters from Toronto to Dillon, Montana, a shift that aligns with its strategic positioning as a Western supplier of critical minerals for defense and advanced technology sectors. The Nasdaq focus is intended to draw institutional investors who classify tungsten as a strategic material.
Deutsche Rohstoff Trims Stake
Adding to the near-term supply of shares on the market, Deutsche Rohstoff AG has sold down part of its holding in Almonty. The German investment firm’s own stock jumped 17.3% on the week to a high of €92.00, giving it a market capitalization of roughly €420.96 million. For Almonty, however, the block sale introduces additional selling pressure that can weigh on the share price regardless of the underlying operational progress.
Sangdong Delivers a 21-Year Backstop
Against the noise of exchange exits and shareholder sales, the operational story at Sangdong has taken a decisive step forward. The mine in South Korea officially started processing on July 1, 2026, with an ore stockpile of approximately 139,700 tonnes built up through the end of June.
The transition from developer to producer is underpinned by a long-term offtake agreement with Global Tungsten & Powders that was extended in mid-July. The contract now runs for 21 years, stretching into the late 2040s, and increases the contracted delivery volumes by 40%. Such duration is rare among junior miners and provides both parties with exceptional planning certainty over the marketing of tungsten produced outside of China.
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That geopolitical angle is central to Almonty’s investment case. China controls roughly 80% of global tungsten production and dominates downstream processing. Sangdong is one of the few significant projects outside Beijing’s sphere of influence, positioning Almonty to capture a meaningful share of the non-Chinese tungsten supply chain.
What Investors Are Watching
With the relative strength index at 38.8, the stock is approaching oversold territory after the sharp monthly decline. The near-term calendar features two key dates: the end of TSX trading on July 31 and the continued ramp-up of Sangdong’s first processing stage. Investors will also be monitoring whether the selling pressure from Deutsche Rohstoff’s stake reduction persists or whether the long-term contractual security around Sangdong helps stabilize the share price.
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