Almonty Industries Narrows Its Trading Arena as Tungsten Ramp-Up Gathers Pace
Published on 08/01/2026 at 17:04 | Redaktion boerse-global.de
The tungsten producer Almonty Industries is closing the book on a second stock exchange in as many months, a move that has coincided with one of the sharpest pullbacks in the company's recent trading history. Shares have shed more than 15 percent over the past seven sessions, yet the longer-term picture tells a markedly different story.
A Two-Front Exit
Having already ended its Toronto Stock Exchange listing at the close of trading on July 31, Almonty is now preparing to sever ties with the Australian Securities Exchange. The voluntary delisting, approved by the ASX, will see trading in CHESS Depositary Interests cease on August 28, with the formal removal taking effect on September 1.
The rationale mirrors the Toronto decision on both counts. Management points to the fact that the overwhelming majority of daily trading volume has already migrated to the Nasdaq, where the stock continues to trade under the ticker ALM. Maintaining secondary listings in Toronto and Sydney, the company argues, has become an exercise in diminishing returns, with administrative, compliance and reporting costs no longer justified by the liquidity those venues attract.
Australia's case is particularly stark. As of July 14, only around 0.80 percent of all outstanding shares remained registered on the ASX. The company first flagged its intention to leave Toronto to Australian regulators on July 20, and the two exits together leave Almonty with just Nasdaq and Frankfurt as its primary trading venues.
Should investors sell immediately? Or is it worth buying Almonty?
For CDI holders who remain on the register, a voluntary selling facility opens on September 8 and runs through November 6. Those unwilling to sell can convert their CDIs into Nasdaq-listed shares on a 1:1 basis.
A Steep Correction in Context
The market's response to the restructuring has been unforgiving. The stock closed Friday at 15.51 Canadian dollars in Toronto, down 4.96 percent on the day. Over the past week, the decline has stretched to 17.54 percent, and the one-month figure stands at 30.29 percent. That leaves the shares trading 53.49 percent below their 52-week high of 33.35 Canadian dollars, reached on April 17.
The technical picture reinforces the sense of a market in retreat. The 14-day relative strength index sits at 32.7, hovering near oversold territory. The stock has also fallen roughly 31 percent below its 50-day moving average of 23.02 Canadian dollars, a sign that momentum has turned decisively negative.
Yet context matters. A year ago, on July 31, 2025, the shares were changing hands at just 4.96 Canadian dollars. Even after the recent sell-off, the stock remains up 205.92 percent on a 12-month basis. The annualized volatility of nearly 89 percent, however, underscores just how skittish the market has become.
Operational Counterweight
While the corporate restructuring has dominated headlines, the operational picture is heading in the opposite direction. In early July, Almonty announced an expanded supply agreement with Global Tungsten & Powders, a partnership that dates back to 2018. The revised terms extend the contract from 15 to 21 years from first delivery, increase contracted volumes by 40 percent and improve pricing by roughly 6.3 percent.
The financial implications are substantial. Almonty expects annual contract revenue to rise by at least 30 million US dollars, with total revenues over the 21-year term projected at 490 million US dollars from this single agreement. The deal covers approximately 90 percent of the Phase 1 production of tungsten concentrate from the Sangdong mine in South Korea.
Almonty at a turning point? This analysis reveals what investors need to know now.
That mine, meanwhile, has crossed a significant threshold. On July 1, Almonty reported the start of throughput operations at the processing plant, marking the transition from construction and commissioning into active production. The ramp-up toward full Phase 1 capacity now provides a potential counterweight to the share price turbulence of recent weeks.
What Lies Ahead
The calendar now holds the key dates for shareholders to watch: the ASX delisting on September 1, followed by the opening of the selling facility a week later. With two of its four former trading venues eliminated within weeks of each other, Almonty's focus narrows to the Nasdaq as its central marketplace, with Frankfurt as a secondary listing.
Whether the operational momentum from Sangdong can steady the stock in the face of the ongoing structural transition remains to be seen. For now, the company's strategic bet is clear: concentrate liquidity where it already exists, cut the costs of maintaining peripheral listings, and let the tungsten ramp-up do the talking.
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