Almonty’s 461% Surge Eyes Russell Index as Molybdenum Drilling Hits 37% Completion
Published on 06/21/2026 at 05:44 | Redaktion boerse-global.de
Almonty Industries is charging into a pivotal week with two powerful catalysts converging on the same horizon. The tungsten and molybdenum developer, whose shares have rocketed 461 percent over the past twelve months and 122 percent since the start of the year, will enter the Russell 1000 and Russell 3000 indices on June 29. That forced buying by index-tracking funds is expected to inject a wave of liquidity into a stock already riding a speculative surge.
The company closed the week at C$26.67, a level that situates it just beneath its 50-day moving average of C$27.21 and well above the 200-day line at C$17.59. While the 52-week high of C$33.35 hit in mid-April remains 20 percent away, the Russell inclusion seems likely to act as the next concrete share-price catalyst. Yet for all the excitement, the stock’s 30-day annualised volatility of roughly 99 percent underscores how violently it can swing – a reality that has kept traders on high alert even as the fundamental story strengthens.
Behind the price action lies a two-pronged corporate push. Almonty recently completed a convertible bond offering that generated roughly US$676 million in net proceeds. The notes carry a 2.25 percent coupon, mature in 2031 and are convertible at US$27.40 per share. Management has hedged against equity dilution through a special options structure, ensuring that existing shareholders are not unduly diluted when conversion occurs. Those funds have already been earmarked for the expansion of the Sangdong tungsten mine in South Korea’s Gangwon province.
Should investors sell immediately? Or is it worth buying Almonty?
Sangdong’s first phase of ramp-up began commercial operations in March 2026 and is now targeting throughput of 640,000 tonnes of ore per year. A second phase is already in the works, which would double capacity to 1.2 million tonnes. But Sangdong is not only a tungsten story. Adjacent to the mine lies a molybdenum deposit that Almonty is now advancing with deliberate speed.
South Korea’s government has publicly flagged dangerously low national molybdenum inventories and urged companies to secure supplies of the strategic metal, which is essential for strengthening steel alloys used in aerospace, defence, nuclear energy and petrochemicals. Molybdenum’s spot price has climbed roughly 23.5 percent over the past year, driven by demand from the semiconductor and renewable-energy sectors as well. Almonty has responded by accelerating a drilling programme that includes 26 planned boreholes totalling about 12,000 metres. To date, 37 percent of those holes have been completed, and the initial assays have confirmed molybdenum grades consistent with historical data. The company aims to begin extraction without further delay once the resource is fully verified.
The drilling results, combined with the close proximity to Sangdong’s existing infrastructure, give the molybdenum project a potential shortcut to production. Analysts see the dual-metal strategy as a way to reduce dependence on any single commodity market while riding the broader thematic push for domestic critical-mineral supply chains in Asia.
For now, the relative strength index sits at 53 – a neutral reading that suggests the share price is not yet overbought despite its meteoric twelve-month run. The immediate focus, however, is on June 29 and the moment index funds are forced to reshape their portfolios. That forced buying, paired with the steady flow of molybdenum drilling updates, provides Almonty with two very different but equally powerful engines as it enters the second half of 2026.
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