Almonty's Twin Milestones: Sangdong Goes Live and TSX Exit Nears, Yet the Stock Sheds a Quarter of Its Value
Published on 07/19/2026 at 08:23 | Redaktion boerse-global.de
Almonty Industries is telling two sharply different stories at once. On one side, the tungsten producer has crossed the threshold from developer to operator, fired up its Sangdong processing plant in South Korea, and locked in a vastly expanded offtake deal covering 90 percent of initial output. On the other, the stock has lost 25.45 percent over the past month and sits 42.28 percent below its April peak of C$33.35 — a retreat that has pushed the relative strength index to 38.1, a level chart watchers often call oversold.
The operational achievements are concrete. The Sangdong processing train began turning on July 1, 2026, yielding salable tungsten concentrate for the first time. Less than two weeks later, on July 14, Almonty renegotiated its supply agreement with Global Tungsten & Powders (GTP), extending the term from 15 to 21 years, boosting contracted volume by 40 percent to 4.41 million metric tonne units, and improving the pricing formula by 6.3 percent. At current ammonium paratungstate prices, the contract implies annual revenue of roughly US$490 million — an anchor that covers the vast majority of Phase 1 output.
Alongside these advances, Almonty is simplifying its capital markets structure. The company announced a voluntary delisting from the Toronto Stock Exchange, with trading set to cease at the close on July 31, 2026. The move was widely expected: the bulk of daily turnover already flows through the Nasdaq, where Almonty trades under the ticker "ALM." Consolidating its North American listing in New York eliminates duplicate reporting obligations and compliance costs. Canadian-based shareholders will need to route orders through Nasdaq after the transition.
The stock closed at C$19.25 on Friday, up 3.94 percent on the delisting news, yet the weekly performance was a loss of 17.66 percent. Over the past 30 days, the decline stands at 25.45 percent, and at the current price Almonty trails its 50-day moving average of C$24.61 by 21.77 percent. The annualized 30-day volatility runs at 84.83 percent, underscoring the stock's hair-trigger nature.
Should investors sell immediately? Or is it worth buying Almonty?
Two competing narratives now frame the outlook. The bull case rests on the notion that Almonty's new status as a revenue-producing miner backed by a 21-year take-or-pay contract is undervalued. With the RSI nearing oversold territory and the long-term trend still intact — shares have surged 209.49 percent over 12 months and 59.49 percent year to date — proponents argue the recent correction has created an entry point, with a recovery toward the 50-day moving average a plausible target if Sangdong ramps without hiccups.
The bear case counters that the best news may already be priced in. The pattern of "buy the rumor, sell the fact" appears to have played out: the contract expansion and production start were flagged months in advance, and the sharp post-announcement decline suggests investors are taking profits. Additional risks include the potential cost of financing a Phase 2 expansion, which could dilute existing holders, and the stock's 21.77 percent discount to its 50-day average, signaling a persistent downtrend.
Geopolitics adds a long-range tailwind. Tungsten prices have climbed to historic highs as China tightens export controls on critical minerals, and Almonty is one of the few producers outside the Middle Kingdom. The company's positioning as a non-China source of the strategic metal is the underlying driver of both the contract expansion and the broader investor interest.
Almonty at a turning point? This analysis reveals what investors need to know now.
For the near term, all eyes are on the 200-day moving average at C$18.96. Friday's close sits just 1.53 percent above that line. Should Sangdong deliver steady throughput in the coming weeks, the first production update will test whether the US$490 million revenue projection has operational heft — and whether the technical floor will hold. A break below that level could reopen the path toward the 52-week low of C$4.36, resetting the entire producer premium.
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Almonty Stock: New Analysis - 19 July
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