Monitor for ramp-up progress to 24/7 operations and Phase II completion in 2027; the share repurchase program provides a floor but may not prevent near-term volatility.
Price Chart
Executive Summary
Almonty Industries announced first tungsten concentrate production at its Sangdong mine in South Korea, a milestone after 33 years, and confirmed Phase II expansion is underway with equipment orders placed with Metso. The company also reported buying back 2,914,739 shares for ~US$48 million, signed a multi-year take-or-pay offtake for Los Santos tailings in Spain, and formed a joint venture with the Government of Rwanda for the Shyorongi concession. No financial results were provided, and all production and expansion timelines are forward-looking.
Key Facts
- First tungsten concentrate produced at Sangdong mine, first production in 33 years.
- Phase II expansion officially underway; equipment orders placed with Metso; expected completion in 2027 targeting up to 1.2 million tonnes per annum and over 460,000 MTU annually.
- Mill currently running 13 hours/day, 7 days/week, to increase to 24/7 in coming days; ~4.6 months of stockpile on site.
- Company bought back 2,914,739 common shares for cancellation at a total cost of approximately US$48 million.
- Signed multi-year, take-or-pay offtake agreement for ~1,720 tonnes of contained WO₃ from Los Santos tailings in Spain.
- Formed Almonty Rwanda joint venture with Government of Rwanda (Govt holds 25%) for Shyorongi tungsten exploration concession and mineral processing license.
Financial Impact
Share repurchase of ~US$48 million; no revenue, earnings, or cash flow figures reported.
Risk Factors
- Forward-looking statements only; no actual production volumes or revenue disclosed.
- Phase II completion and ramp-up to target capacity may face delays or cost overruns.
- Tailings recovery at Los Santos is unproven commercially in the West.
- Share repurchase program may be suspended or discontinued at any time.
Investment Themes
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 6-K Filing (Primary) | 0001493152-26-044777 |
| Document: form6-k.htm | 0001493152-26-044777 |
| Document: 0001493152-26-044777-index-headers.html | 0001493152-26-044777 |
| Document: 0001493152-26-044777-index.html | 0001493152-26-044777 |
| Document: 0001493152-26-044777.txt | 0001493152-26-044777 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 13, 2026 14d ago | 6-K | $10.98 $8.90 | ▼ −18.94% | ▼ −17.79% | $9.56 (−12.89%) |
Oct 5, 2026 22d ago | 6-K | $13.52 $11.08 | ▼ −18.05% | ▼ −18.47% | $9.56 (−29.25%) |
Sep 29, 2026 27d ago | 6-K | $13.16 $12.10 | ▼ −8.05% | ▼ −9.97% | $9.56 (−27.32%) |
Sep 29, 2026 28d ago | 6-K | $13.19 $13.04 | ▼ −1.14% | ▼ −3.09% | $9.56 (−27.48%) |
Sep 22, 2026 5w ago | Institutional Cluster | $14.35 $13.19 | ▼ −8.08% | ▼ −6.90% | $9.56 (−33.34%) |
Sep 21, 2026 5w ago | 6-K | $14.66 $13.21 | ▼ −9.89% | ▼ −8.87% | $9.56 (−34.75%) |
Sep 17, 2026 5w ago | 6-K | $14.13 $12.40 | ▼ −12.24% | ▼ −12.84% | $9.56 (−32.31%) |
Sep 14, 2026 6w ago | 6-K | $14.70 $14.66 | ▼ −0.27% | ▼ −0.38% | $9.56 (−34.93%) |
Aug 17, 2026 10w ago | 6-K | $16.36 $18.28 | ▲ +11.74% | ▲ +12.93% | $9.56 (−41.53%) |
Jul 14, 2026 15w ago | 6-K | $15.79 $13.93 | ▼ −11.78% | ▼ −10.48% | $9.56 (−39.42%) |
US Market Status
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