Almonty's Sangdong Ramp-Up Stumbles as a $67 Million Canadian Dispute Cuts Across the Story
Published on 11/12/2026 at 06:11 | Editorial boerse-global.de
Almonty's flagship Sangdong operation is running its filter press at half its rated capacity, the company's chief executive has confirmed, while a separate legal fight with Deutsche Rohstoff over roughly $67 million in Canadian claims continues to cloud the investment picture.
Lewis Black said on Sunday that the press, designed to handle 80 tonnes per hour, is currently processing 40 tonnes per hour. He also disclosed a disruption at the start of continuous operations: Sangdong began 24-hour working on 1 November, and about ten hours later a breakdown brought the plant to a halt. Production resumed two hours after that.
The throughput figures compare what the press actually achieves against its design specification, and Black put numbers on both the intended capacity and the delivered performance.
Montana Joins a Permitting Fast Lane
On the development side, Almonty's Gentung project has moved into a federal coordination framework. Montana signed a memorandum of understanding to take part in FAST-41, a process that aligns state and federal permitting timetables.
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The company was careful to set expectations. FAST-41 neither overrides statutory requirements nor guarantees that Gentung will be approved, Almonty said. What the arrangement covers is the sequencing of government procedures; the legal conditions for permits remain fully in force.
A Claim Measured in Shares and Cash
Investors weighing Almonty face a financial risk that is hard to price. Deutsche Rohstoff has put a figure on its demands, while Almonty's counterclaims remain largely unquantified.
Deutsche Rohstoff is seeking about $67 million in Canada. That total bundles a claim for 3.5 million conversion shares with the repayment of liabilities. According to Deutsche Rohstoff, roughly EUR 10 million is due and the deadline for payment has passed.
The distinction matters because the two heads of claim create different obligations. The share demand would be settled in stock; the repayment demand, if Deutsche Rohstoff prevails, would land as a cash call on Almonty. A successful defence, by contrast, would spare the company the financial burden.
Counterclaims Without a Price Tag
Almonty, for its part, is demanding the return of shares tied to the 2014 sale of the Wolfram Camp Mine in Australia. The proceedings have been consolidated. Deutsche Rohstoff calls Almonty's allegations unfounded and largely time-barred — an assessment that comes from the opposing side.
Almonty's own claims could carry economic weight if they succeed, but their significance is difficult to gauge while the damages are mostly left unspecified. Investors therefore have to weigh both the legal viability and the economic scale of the counterclaims.
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What Would Actually Move the needle
The central question for shareholders is what concrete obligation could emerge from the dispute. A transparent quantification of the counterclaims, one that also makes their basis clear, would help investors form a view.
Relief for Almonty would come either from fending off the claims or from winning on its own. A burden would arise to the extent that repayments or delivery of the contested conversion shares are enforced. Until the matter is resolved, the quantified demands and the open counterclaims deserve to be weighed separately.
Meanwhile, the equity drifted higher, adding 0.5% yesterday to close at EUR 7.35.
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