Research analysts covering Almonty Industries.
Recent press releases and 8-K filings for ALM.
Almonty appoints Steven L. Allen as Chief Operating Officer
ALM
Management Change
New Projects/Investments
Hiring
- Almonty Industries Inc. announced the appointment of Brigadier General (Retired) Steven L. Allen as Chief Operating Officer on December 1, 2025.
- General Allen's primary responsibilities include optimizing tungsten deliveries at the Sangdong and Panasqueira Mines and accelerating the development of the South Korean Sangdong Molybdenum Project and the U.S. based Gentung Browns Lake Project.
- He brings over three decades of U.S. Army leadership and logistics experience, including multinational operations and serving as Director of Logistics for U.S. Forces Korea.
8 days ago
Almonty Industries Acquires Gentung Browns Lake Tungsten Project in Montana
ALM
New Projects/Investments
M&A
- Almonty Industries Inc. (ALM) has acquired 100% ownership of the Gentung Browns Lake Tungsten Project in Beaverhead County, Montana, marking its entry into the United States market.
- This acquisition aims to position Almonty as a leading U.S. integrated tungsten producer, supporting critical mineral independence and potentially supplying U.S. defense contractors.
- The project, considered one of the most advanced undeveloped tungsten assets in the U.S., targets potential production readiness by H2 2026 with an expected annual output of approximately 140,000 Metric Ton Units (MTUs).
Nov 17, 2025, 1:30 PM
Almonty Industries Commences New Drilling Program at Panasqueira Mine
ALM
New Projects/Investments
- Almonty Industries Inc. initiated a new drilling program at its Panasqueira Mine in Portugal on November 3, 2025.
- The program's primary objectives are to define the mine plan for expansion into Level 4, increase annual output, and potentially extend the mine's operational life.
- This 12-month drilling program involves approximately 14,000 meters of drilling using three rigs and represents an estimated investment of €2.5 million.
- The results are expected to facilitate an update to the resource model, calculate new inferred resources, and guide future production planning.
Nov 3, 2025, 10:13 PM
Almonty Industries Reports Third Quarter 2025 Financial Results
ALM
Earnings
New Projects/Investments
Revenue Acceleration/Inflection
- Almonty Industries Inc. reported revenue of $8.7 million for the third quarter of 2025, marking a 28% increase compared to the same period in 2024.
- The company achieved a net income of $33.2 million in Q3 2025, primarily due to a $34.5 million gain on the revaluation of warrant liabilities.
- Cash and cash equivalents significantly increased to $111.6 million as of September 30, 2025, largely driven by US$90 million in gross proceeds from a public offering completed in July 2025.
- Construction at the Sangdong mine is substantially complete, with ramp-up activities underway and final project commissioning expected in the near-term.
- Almonty also acquired a strategic U.S. tungsten project in Montana for US$10 million, with production anticipated as early as the second half of 2026.
Nov 3, 2025, 12:40 PM
Almonty Industries Inc. Reports Q3 2025 Net Income and Provides Operational Updates
ALM
Earnings
New Projects/Investments
M&A
- Almonty Industries Inc. reported a net income of $33,191 thousand and basic earnings per share of $0.15 for the three months ended September 30, 2025, while recording a net loss of ($59,640) thousand and basic loss per common share of ($0.30) for the nine months ended September 30, 2025.
- As of September 30, 2025, the company's total assets were $433,138 thousand, with cash and cash equivalents of $111,588 thousand and total long-term debt of $197,263 thousand.
- The company completed its Nasdaq IPO on July 15, 2025, raising US$90 million in gross proceeds from the sale of 20,000,000 common shares, and effected a 1.5-to-1 share consolidation on July 3, 2025.
- Almonty announced a binding share purchase transaction on October 28, 2025, to acquire the Gentung Browns Lake Tungsten Project for US$9.75 million, and commenced a drilling program at the Sangdong Molybdenum Project in September 2025.
Nov 3, 2025, 12:30 PM
Almonty Industries Inc. Acquires Gentung Browns Lake Tungsten Project
ALM
New Projects/Investments
M&A
- Almonty Industries Inc. (ALM) announced a binding share purchase transaction to acquire the exclusive right to explore, develop, and mine the Gentung Browns Lake Tungsten Project in Beaverhead County, Montana, U.S..
- The total consideration for the project is US$9,750,000, consisting of US$750,000 in cash and US$9 million in common shares.
- This advanced undeveloped tungsten asset is positioned for near-term production as early as the second half of 2026.
- In a separate transaction, Almonty also agreed to acquire a privately held Montana corporation for US$250,000 in cash to obtain assets including a plant permit, water rights, and tungsten mining equipment.
- Both transactions are expected to close on or about October 31, 2025, expanding Almonty's global footprint into the U.S. tungsten market.
Oct 29, 2025, 12:17 PM
Almonty Commences Legal Proceedings Against Pure Tungsten Inc.
ALM
Legal Proceedings
- Almonty Industries Inc. has filed a Notice of Application in the Ontario Superior Court of Justice against Pure Tungsten Inc. on October 10, 2025.
- The legal action seeks injunctive relief to address "materially false and misleading statements" circulated by Pure Tungsten regarding Almonty, its Sangdong Mine, and the past involvement of Mr. Tiger Kim.
- Almonty clarifies that Mr. Tiger Kim never held an executive, officer, or director position with the Company, and his limited role as an independent contractor ended on December 31, 2015.
- The company's application requests the Court to restrain Pure Tungsten from publishing false statements, compel corrective disclosure, and require retraction of misleading claims, following Pure Tungsten's failure to correct statements and its threat of criminal proceedings against Almonty's CEO, Lewis Black.
Oct 14, 2025, 10:06 AM
Almonty Industries Commences Large-Scale Drilling Program at Sangdong Molybdenum Project
ALM
New Projects/Investments
- Almonty Industries Inc. has commenced a large-scale drilling program at its Sangdong Molybdenum Project in South Korea, aiming to confirm mineral reserves and address a critical molybdenum supply shortage.
- The drilling campaign involves approximately 11,700 meters across 26 drill holes.
- The spot price of molybdenum has increased by approximately 15.1% year-to-date to US$25.97 per pound as of September 19, 2025.
- Following the drilling, Almonty expects to update its Technical Report and expedite production, supported by an exclusive supply agreement with SeAH M&S for 100% of the project's molybdenum output.
Sep 23, 2025, 12:31 PM
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