Almonty Industries: Wolfram Producer's Exchange Exit Leaves Passive Funds Scrambling
Published on 08/02/2026 at 13:32 | Redaktion boerse-global.de
The tungsten producer Almonty Industries has pulled the plug on its Canadian listing, bringing down the curtain on trading at the Toronto Stock Exchange as of the close on July 31, 2026. The company is now consolidating its liquidity around the Nasdaq and Frankfurt, a move that management says will trim administrative and compliance overhead while opening the door to deeper pools of US capital.
The final session in Toronto was anything but quiet. Shares closed at CAD 15.51, shedding 4.96 percent in a single day, extending a slide that has now erased 30.29 percent over the past month. The stock currently trades roughly 19.6 percent below its 200-day moving average of CAD 19.28, and sits 53.49 percent off its 52-week high of CAD 33.35.
The technical forces behind the sell-off
What looks like a rout on the surface is largely a mechanical affair. Voluntary delistings trigger automatic sell orders from index funds and institutional portfolios whose mandates restrict them to Canadian-listed securities. Once the TSX ticker disappears, those funds have no choice but to unwind their positions, regardless of the underlying fundamentals.
That forced selling has pushed the 14-day relative strength index to 32.7, a reading that suggests the stock is approaching oversold territory. Add in an annualized 30-day volatility north of 89 percent, and the picture is one of an unusually jittery tape — though long-term holders have little to complain about. Despite the recent weakness, the shares are still up a staggering 205.92 percent over the trailing twelve months.
Sangdong ramps up as US demand shifts
The exchange transition lands at a pivotal operational moment. Almonty's Sangdong mine in South Korea has crossed the threshold from development into active production, with the processing plant having started operations on July 1, 2026. The facility is currently working through roughly 139,700 tonnes of stockpiled ore, converting it into saleable tungsten concentrate.
Timing here is everything. Starting in 2027, the United States will prohibit the use of Chinese tungsten in defense procurement, a policy shift that has Western buyers scrambling for alternative supply. Almonty has already locked in a 21-year offtake agreement with Global Tungsten & Powders, and recently expanded that contract's volume by 40 percent to keep pace with rising demand from the West.
The company is also pushing ahead with an extensive drilling program at the adjacent Sangdong molybdenum project, aiming to ease regional supply bottlenecks as the broader complex matures.
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Australia next on the exit list
Toronto is just the first stop on the delisting trail. Trading in Almonty's depository interests on the Australian Securities Exchange will end on August 28, 2026, with the formal delisting taking effect on September 1.
Whether the consolidated listing structure at the Nasdaq will steady the share price remains an open question. The stock enters its first full week of US trading in technically oversold territory, but with commercial production at Sangdong expected to hit full stride later this year, the operational story may soon carry more weight than the mechanics of where the shares happen to trade.
Disclaimer regarding our articles: No investment advice, no buy or sell recommendation. Information on prices, companies, and markets is provided without guarantee; changes are possible at any time. Stock market transactions can lead to substantial losses. Our articles are created and reviewed in whole or in part automatically with the support of AI.
