Almonty's Record Tungsten Deal and Planned TSX Exit Create a Two-Sided Story for Investors
Published on 07/18/2026 at 10:44 | Redaktion boerse-global.de
Almonty Industries has cemented one of the most extensive off-take agreements in the tungsten sector — a 21-year supply deal with Global Tungsten & Powders (GTP) worth an estimated $490 million in annual revenue over the full term. Yet the stock is flirting with oversold territory, down nearly 42% from its April peak, and the company has also announced it will delist from the Toronto Stock Exchange by the end of July 2026. The disconnect between operational momentum and market sentiment has rarely been starker.
The expanded agreement with GTP, a unit of Austria’s Plansee Group, extends the original 15-year contract and secures 4.41 million metric tonne units of tungsten concentrate from Almonty's Sangdong mine in South Korea. After a ramp-up phase, the deal guarantees minimum annual deliveries of 210,000 MTU. Pricing has been improved by roughly 6.3% across the contract, which Almonty says will add at least $30 million to yearly revenue. Notably, the agreement covers only about 90% of Phase I production, leaving the planned Phase II expansion — which would nearly double the mine's processing capacity — entirely available for further sales.
CEO Lewis Black described the extension as a validation of Sangdong’s strategic significance. “GTP and the Plansee Group have supported the Sangdong mine since 2018. This expansion reflects both the strength of that partnership and the current market value of Sangdong’s conflict-free tungsten,” he said in a statement.
The timing of the deal ties directly to Almonty's operational progress. In early July, the company began commissioning the Sangdong processing plant using a stockpile of 139,700 tonnes of ore, inching closer to full Phase I capacity. Industry observers note that the contract’s 21-year horizon also dovetails with Almonty’s recent $700 million convertible note placement, giving debt investors a clearer line of sight on long-term cash flows.
Should investors sell immediately? Or is it worth buying Almonty?
But the stock has been heading in the opposite direction. Almonty’s shares recently traded at 19.66 Canadian dollars, a far cry from the 52-week high of C$33.35 hit in mid-April. On a weekly basis the stock fell 17.66%, and the seven-day decline measured 15.91%. Over the past 30 days the loss has deepened to roughly a quarter of the share price. The relative strength index (RSI) is approaching oversold levels, with the 14-day reading at 39.7 and a broader measure at 38.1. Annualized 30-day volatility stands near 86%, underscoring the violent swings since the spring peak.
Compounding the technical weakness is the decision to pull the company’s listing from the TSX. Almonty said the move is purely administrative — no shareholder vote is required — and reflects the fact that the majority of trading volume already flows through its Nasdaq listing. The official delisting date is set for July 31, 2026. In the short term, such announcements tend to add selling pressure as index funds and investors who prefer multi-listed stocks adjust their positions.
The bull case rests on a straightforward comparison of price versus potential. Despite the correction, Almonty is up more than 60% year-to-date and over 200% on a twelve-month basis. The strengthened offtake contract provides a revenue base that few junior miners can match. With the stock consolidating onto a single US exchange, advocates argue that institutional investors who shy away from dual-listed names may finally step in. An RSI close to the oversold threshold also suggests a technical bounce could be imminent.
Almonty at a turning point? This analysis reveals what investors need to know now.
On the bearish side, the trend remains unequivocally negative. Almonty is trading more than 20% below its 50-day moving average of C$24.61, a clear signal of near-term weakness. The next critical support level is the 200-day average at C$18.96, a mere 3.68% below the current price. If that line breaks, chart watchers warn of a potential slide toward the 52-week trough of C$4.36, though that scenario would require a sustained deterioration in fundamentals. Meanwhile, even good news — such as the GTP contract extension — has failed to hold gains; the stock initially jumped 5.7% on the announcement but quickly surrendered the advance.
For now, the 200-day moving average serves as the key battleground. Holding above C$18.96 would allow the recent sell-off to be interpreted as a healthy consolidation following the massive rally from C$4.36 last July. A break below that level would shift the technical narrative decisively to the downside. The delisting deadline is more than two years away, but market participants will be watching closely whether Nasdaq trading volumes pick up in the meantime, validating management’s bet that a single venue will attract the liquidity the stock needs to regain its footing.
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