Almonty Industries Caught in a Forced Selling Squeeze as Dual Exchange Exits Trigger Steep Declines
Published on 07/29/2026 at 17:43 | Redaktion boerse-global.de
The tungsten producer Almonty Industries is navigating a turbulent period that has little to do with its operational health and everything to do with the mechanics of leaving two major stock exchanges. Shares have shed 22.32 percent over the past seven trading sessions, with a 9.23 percent drop on Wednesday alone, as the company prepares to voluntarily delist from the Toronto Stock Exchange this Friday.
The selling pressure stems from a technical constraint rather than any deterioration in the business. Institutional funds with mandates restricting them to Canadian-listed securities are being forced to liquidate their positions ahead of the TSX departure, creating a cascade of selling that has overwhelmed the stock's normal trading dynamics.
A Production Milestone Buried Under Delisting Noise
The timing is particularly ironic given that Almonty confirmed on July 1 that its processing plant at the Sangdong mine in South Korea had begun operations. The facility is already working through an initial stockpile of approximately 139,700 tonnes of ore, marking the company's transition from pure project developer to actual producer.
This operational breakthrough, however, has been completely overshadowed by the delisting drama. The first phase of Sangdong is designed for an annual capacity of 640,000 tonnes of ore, and the company has secured a 21-year offtake agreement with Global Tungsten & Powders covering roughly 90 percent of planned Phase 1 production — a contract that at current ammonium paratungstate prices should generate substantial annual revenue.
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The Australian Exit Adds Another Layer
The TSX departure is not the only exchange exit in motion. Almonty has also initiated the process of leaving the Australian Securities Exchange, with formal notices sent to CDI holders on Wednesday. Australian investors have until August 28 to either sell their holdings on the ASX or request conversion of their CDIs into ordinary shares that would trade on the Nasdaq or in Frankfurt.
The ASX delisting is expected to be completed by September 1, following a one-month notice period. Trading volumes on the Australian exchange had already dwindled to insignificance — mid-July saw less than one percent of outstanding shares change hands there.
Strategic Rationale Behind the Consolidation
The company is relocating its corporate headquarters from Toronto to Dillon, Montana, a move designed to strengthen ties with US defense and industrial partners. Tungsten is classified as a critical mineral in the United States for security technology and advanced industrial applications.
Going forward, Almonty will focus its listing efforts on the Nasdaq under the ticker ALM and the Frankfurt exchange under ALI1. The consolidation eliminates administrative and compliance costs associated with maintaining four parallel listings. A similar process is already underway for the ASX delisting, which will leave the company with just two trading venues.
Technical Damage and the Bigger Picture
The forced selling has driven the stock deep into technically oversold territory. The relative strength index has fallen to 30.7, hovering just above the 30 threshold that traders typically regard as indicating an oversold condition. The current price of 15.63 Canadian dollars sits 33.15 percent below the 50-day moving average of 23.38 CAD.
The decline has also breached the 200-day moving average of 19.21 CAD, with the stock now trading 10.36 percent below that long-term support level. From the 52-week high of 33.35 CAD reached in April, the shares have retreated 48.37 percent.
Almonty at a turning point? This analysis reveals what investors need to know now.
Yet the short-term pain masks a very different picture over a longer horizon. Despite the current rout, Almonty shares have still gained 232.55 percent over the past twelve months. Year-to-date, the stock remains up 42.67 percent.
A Major Shareholder Trims Its Position
Adding to the market dynamics, Deutsche Rohstoff AG recently sold 5 million Almonty shares at an average price of approximately 16 US dollars. The German resource investment firm remains a significant stakeholder with roughly 5.5 million shares, plus convertible bonds and loans that continue to be held.
The Real Test Arrives Friday
Once the forced selling from TSX-mandated funds concludes on Friday, the market will get a clearer picture of whether the stock can begin to reflect its operational trajectory rather than the mechanics of exchange exits. The Sangdong ramp-up and the long-term offtake agreement with Global Tungsten & Powders represent the fundamental story — one that has been temporarily drowned out by administrative noise.
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