Almonty Industries stock falls 5.09 percent as Sangdong starts output

Almonty Industries stock fell 5.09 percent to USD 13.62 on Nasdaq on September 23, 2026, leaving the price 44.2 percent below its 52-week high of USD 24.41. On the same date, the company marked first tungsten production at its Sangdong Mine in South Korea, a milestone reported by MarketScreener.

Sangdong reaches first output

The first production since 1993 moves Sangdong from construction and commissioning toward commercial operations. The operating milestone matters because the project is central to Almonty's plan to expand tungsten supply outside China.

The company also has a current offtake framework for future supply. On September 17, 2026, Almonty announced a multi-year, take-or-pay agreement with a Sandvik subsidiary covering tungsten recovery from the Los Santos tailings in Spain, according to InvestorNews.

Revenue climbs in Q2 2026

The operating data provide a sharper measure of the transition. In Q2 2026, revenue rose 498 percent year over year to CAD 43.0 million, while adjusted EBITDA improved from negative CAD 4.8 million to CAD 17.6 million, InvestorNews reported.

Net income reached CAD 181.8 million in the quarter, but CAD 173.1 million came from non-cash gains related to derivative and warrant revaluations. That distinction makes adjusted EBITDA and future production volumes more useful indicators of operating performance than the headline net income figure.

Price remains below yearly peak

Almonty Industries had a market capitalization of USD 3,864,566,040 on September 23, 2026. The closing price was USD 13.62 on Nasdaq on that date, compared with a 52-week range of USD 5.25 to USD 24.41.